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10/31/2024
Analysis
Updated: Caledonia Mining Corp. Plc
Caledonia Mining is an emerging mid-tier producer in Zimbabwe (South Africa). Production is 75,000 oz (their share), but increasing to 225,000 oz. All-in costs (free cash flow) are about $1300 per oz. They have annual free cash flow of around $100... more
10/31/2024
Analysis
Updated: Amaroq Minerals Ltd
Amaroq Minerals (formerly AEX Gold) is in the process of restarting a gold mine in Greenland. Nalunaq is a past-producing mine with 320,000 oz at 28 gpt. Production stopped in 2009. They think exploration will increase the deposit to 1 million oz at 18... more
10/30/2024
Analysis
Updated: Laurion Mineral Exploration Inc
Laurion Mineral Exploration is a gold development company focused in Canada. They have a single project (Ishkoday) in Ontario. It is a past-producing high-grade underground gold mine (17 gpt) from the 1940s. They have targeted 100,000 meters of drilling... more
10/29/2024
Analysis
Updated: Mantle Minerals Ltd
Mantle Minerals (formerly Caeneus Minerals) is a project generator focused on Australia. They are drilling in an area near DeGrey’s large Hemi project and currently manage three projects: Mt Berghaus (14,000 ha), Robert’s Hill (46,700 ha) — the... more
10/29/2024
Analysis
Updated: First Majestic Silver Corp
First Majestic Silver is a large silver/gold producer in Mexico. They recently acquired Gatos Silver in an all-share deal with a 16% premium. This deal should close in the next few months. I’m assuming it will close (but that is never a certainty) and... more
10/28/2024
Analysis
Updated: Novagold Resources Inc
NovaGold Resources has a huge advanced gold project in Alaska. Donlin is a 45 million oz resource at 2.2 gpt (they own 50%), which is one of the highest-grade large open pit mines in the world. They are projecting cash costs of $600 per oz. However,... more
10/28/2024
Analysis
Updated: Fury Gold Mines Ltd
Fury Gold Mines was created in October 2020 from the merger between Auryn Resources and Eastmain Resources. This left them with three quality gold projects. They sold one to Dolly Varden in exchange for 59M shares of Dolly Varden, currently worth $50M,... more
10/27/2024
Analysis
Updated: Coeur Mining Inc
Coeur Mining has underperformed since 2006. They have to reach $70 per share just to get back to where the share price traded in 2006. However, they have been aggressive, purchasing Orko Silver, Paramount Gold, a mine from Goldcorp, and now Silvercrest... more
10/27/2024
Analysis
Updated: Noble Mineral Exploration Inc
Noble Mineral Exploration is a project generator focused on Canada, with a portfolio of multiple projects and metals, including those related to cobalt, nickel, PGMs, and REEs. Their projects also include several gold properties, such as the northern... more
10/25/2024
Analysis
Updated: P2 Gold Inc
P2 Gold is a project generator focused on Canada and the USA. They have one advanced project, Gabbs, located on 7,500 acres in Nevada. It has 2 million oz with 65% classified as inferred. The average grade is 0.38 g/t for gold and 0.24% for copper (for... more
10/25/2024
Analysis
Updated: Northisle Copper & Gold Inc
Northisle Copper and Gold has a large copper/gold project (Hushamu) in Canada. The location is excellent, near an existing mine in British Columbia. If you like copper, this could be a very good speculation stock. They have a PEA with a $1.4 billion... more
10/25/2024
Analysis
Updated: Turaco Gold Ltd
Turaco Gold (previously Manas Resources) is an Australian gold exploration company.
They have a large discovery in West Africa (Cote d’Ivoire). Their Afema gold project (300,000 acres) has a 2.5M oz at 1.3 gpt maiden resource that is growing in size.... more
10/25/2024
Analysis
Updated: Tribune Resources Ltd
Tribune Resources is a small gold producer in Australia. They have a 44% JV called East Kundana (EKJV) that is in production. Production is around 30,000 oz annually with 700,000 oz resources (their share). Their profit in 2024 was only around $5M, but... more
10/25/2024
Analysis
Updated: Golconda Gold
Golconda Gold (formerly Galane Gold) is a small gold producer based in South Africa. The Galaxy underground mine holds 1.5 million ounces of gold (970,000 in the M&I). They incurred losses in 2022 and 2023 but are currently producing at a rate of 10,000... more
10/24/2024
Analysis
Added: Polymetals Resources Ltd
Polymetals Resources is a near-term silver producer in Western Australia. Their Endeavor mine has about 60M oz of silver at 80 gpt, plus significant zinc and lead offsets. Their company presentation is confusing. They do not list their expected costs and... more
10/22/2024
Analysis
Updated: District Metals Corp
District Metals is a project generator focused on Sweden. They are currently drilling their Tomtebo-Stollberg project, which covers 12,500 acres. This is a past-producing property with a history of drilling. It is a polymetallic mine that historically... more
10/18/2024
Analysis
Added: Kavango Resources PLC
Kavango Resources is trying to become a gold producer in South Africa (Zimbabwe). They have three properties in Zimbabwe that have had past production on them from artisan mining (Hillside, Nara, and Leopard). They want to build a small 100 tpd mill and... more
10/18/2024
Analysis
Updated: Greenheart Gold Inc
Greenheart Gold was formed in 2024 from the team that sold Reunion Gold to G Mining. They have two early exploration projects in South America. Abuya (22,000 acres) is in Guyana. Majordam (25,000 acres) is in Suriname. It appears that neither has had... more
10/17/2024
Analysis
Added: Greenheart Gold Inc
Greenheart Gold was formed in 2024 from the team that sold Reunion Gold to G Mining. They have two early exploration projects in South America. Abuya (22,000 acres) is in Guyana. Majordam (25,000 acres) is in Suriname. It appears that neither has had... more
10/15/2024
Analysis
Updated: Ora Banda Mining Ltd
Ora Banda Mining is an emerging mid-tier producer in Australia. They were a producer in 2018, but ran into financial issues. They renamed the company and recapitalized their debt, which was eliminated. They currently have only $3M in debt and $20M in... more
10/14/2024
Analysis
Updated: Silver North Resources
Silver North Resources (previously Alianza Minerals) was created in 2015 from the combination of Tarsis Resources and Estrella Gold. It is a project generator without an advanced project. They have several early exploration projects in the Yukon, Nevada,... more
10/14/2024
Analysis
Updated: Starr Peak Mining
Starr Peak Mining (formerly Starr Peak Exploration) is a project generator focused in Canada. They had a significant high-grade zinc discovery at NewMetal (5,500 acres) in 2021.
The discovery hole was 12 meters at 20% zinc equivalent. Subsequently,... more
10/12/2024
Analysis
Updated: Heliostar Metals Ltd
Heliostar Metals (formerly Redstar Gold) was drilling their Unga gold project (400K oz at 14 gpt) in Alaska. Then, in 2022, they pivoted into development by acquiring the Ana Paula gold project from Argonaut Gold. Ana Paula is an underground mine with a... more
10/12/2024
Analysis
Updated: Onyx Gold Corp
Onyx Gold is a project generator focused in Canada. They were formed in 2023 by a spin-out from Highgold Mining, which gave shareholders 25% of the new company. They have two groups of properties. One group is in Ontario on 75,000 acres. It includes... more
10/12/2024
Analysis
Updated: Nagambie Resources Ltd
Nagambie Resources is a project generator focused on Australia. They hold a 50% ownership in the Nagambie Au-Sb project (512,000 acres) in Victoria. The mineral resource estimate for the shallow deposits reports 47,000 ounces of gold at 3.6 g/t and 17,000 more
10/12/2024
Analysis
Updated: Signature Resources Ltd
Signature Resources is a project generator with a gold project in Ontario (Lingman). It is on 60,000 acres with 7 drill areas. The resource size is 230,000 oz (6.8 gpt) and is likely to grow in size. It was a producing mine in the 1940s, with 60,000 oz... more
10/12/2024
Analysis
Updated: Ridgeline Minerals Corp
Ridgeline Minerals is a new project generator focused on Nevada. They have made a low-grade Ag-Au-Pb-Zn CRD discovery with a potentially open-pit resource named Selena, covering 6,000 acres. While the headline results are promising, the high-grade zones... more
10/11/2024
Analysis
Updated: Emx Royalty Corp
EMX Royalty Corp (formerly Eurasian Minerals) is a global project generator with 50+ projects (many are available for option) in about 10 countries. They have a capable CEO (David Cole) who is generating stockholder value and aggressively growing the... more
10/11/2024
Analysis
Updated: Marmota Ltd
Marmota Ltd is a project generator focused in Australia. They are drilling a high grade gold discovery (Aurora Tank). They don't have a company presentation and I don't feel like I understand their project. They do own it 100%, but it appears to be on a... more
10/11/2024
Analysis
Updated: Rackla Metals Inc
Rackla Metals is a new project generator focused in Canada. They have about 10 properties on the Yukon/NWT border. All are early exploration. They all appear to be small properties and they do not list their sizes on the website (a bad sign). Simon... more
10/11/2024
Analysis
Updated: Finlay Minerals Ltd
Finlay Minerals is a project generator focused in Canada. They have four early exploration projects in British Columbia. They have not made a significant discovery yet and are not drilling aggressively.
Silver Hope (25,000 acres)
ATTY (19,000... more
10/11/2024
Analysis
Updated: Gunpoint Exploration Ltd
Gunpoint Exploration is a project generator with an advanced project in Nevada (Talapoosa). Newcrest had a 75% option on the project but opted out in March 2024. It is a 1.3 million oz (1 gpt) open pit project with an additional 15 million oz of silver (1 more
10/09/2024
Analysis
Updated: Tristar Gold Inc
TriStar Gold is advancing an open pit project (CDS) to production in Brazil. It is on 70,000 acres, and they think it has a 10-mile trend of mineralization for exploration. CDS is 2 million oz (1 gpt), with 1.4 million oz of reserves (1 gpt).
They... more
10/09/2024
Analysis
Updated: Allied Gold Corp
Allied Gold is a gold producer in West Africa and East Africa. They have large resources (18M oz's) and are a growth story. They plan to expand production from 400,000 oz's in 2024 to 600,000 oz in 2026, then 800,000 oz in 2028. They currently have... more
10/08/2024
Analysis
Updated: Vizsla Silver Corp
Vizsla Resources was formed in 2019. They purchased a large property (Panuco) in Mexico for $43 million in cash and shares. This was one of the best purchases ever made. Panuco is already 325M oz at 400 gpt AGEQ (including gold) and growing in size. In... more
10/08/2024
Analysis
Updated: Saturn Metals Ltd
Saturn Metals is advancing a large gold project, Apollo Hill, in Australia (250,000 acres). It is a 1.8 million oz open pit deposit (.6 gpt). They released a PEA in 2023. The capex is $210M to produce 120K oz for 10 years with an AISC around $1400 per oz. more
10/08/2024
Analysis
Updated: Aris Mining Corp
Aris Mining (previously GCM Mining and Gran Colombia Gold) is mid-tier producer in Colombia. In 2022, they acquired Aris Mining in a merger of equals and took their name. They now have 29 million oz of resources and plan to expand production to around... more
10/07/2024
Analysis
Updated: Kuya Silver Corp
Kuya Silver is a new silver developer in Peru. They recently acquired the Bethania property and mine (10,000 acres). It has been in private hands and operating off and on for 40 years. It has a small resource of around 15M oz, but there are about 20... more
10/07/2024
Analysis
Updated: Guanajuato Silver
Guanajuato Silver is an emerging mid-tier silver producer in Mexico. They acquired the El Cubo mine from Endeavour Silver. Then they acquired the Valenciana, San Ignacio, and Topia mines from Great Panther. All of the mines except Topia are located in... more
10/06/2024
Analysis
Updated: Excellon Resources Inc
Excellon Resources was a small silver producer in Mexico. They are now divesting the Mexico properties to focus on a gold project in Idaho. The Kilgore project was acquired in 2019 from Otis Gold. It has 1 million oz (.6 gpt) and a PEA. It is economic at... more
10/06/2024
Analysis
Updated: Far East Gold Ltd
Far East Gold is a new company that did an IPO in 2022. However, they have several advanced exploration projects. Investors like it because they have several projects with significant potential. They have 6 projects, including 3 in Indonesia and 3 in... more
10/06/2024
Analysis
Updated: Great Boulder Resources Ltd
Great Boulder Resources is a project generator focused in Australia. They have several projects, but their focus is Side Well, which appears to be a significant discovery and likely large mine. They estimate 668koz with the potential to increase that... more
10/06/2024
Analysis
Updated: Greatland Gold Plc
Greatland Gold is a London-based stock with several exploration properties (600,000 acres) in Australia and Tasmania. One of those properties (Havieron) is an 8M oz AGEQ, with 7M oz of AU.
In 2024, they acquired the remaining 70% of Telfer/Havieron... more
10/06/2024
Analysis
Updated: XXIX Metal Corp
QC Copper and Gold is advancing a large copper and gold project (Opemiska) in Quebec. Opemiska is the highest grade copper open pit in Canada. They are currently working on a PEA. It's cheaper and easier to drill their in the Winter and they plan on... more
10/05/2024
Analysis
Updated: NevGold Corp
NevGold Corp is a project generator focused on Nevada, Idaho, and British Columbia. In 2022, they acquired the Nutmeg project (containing one million oz of gold at 0.65 gpt) in Idaho. Additionally, they have three early-stage exploration projects. Limo... more
10/05/2024
Analysis
Updated: New Gold Inc
New Gold is a mid-tier producer that has been struggling. They were producing 550,000 oz (gold equivalent) in 2017 and everything looked good. Today, their production is down to 330,000 oz. Their costs were high, but they are dropping rapidly. They have... more
10/03/2024
Analysis
Updated: Midland Exploration Inc
Midland Exploration is a project generator with 31 projects on 600,000 acres in Quebec and Ontario. They have over 9 JVs now, including deals with Agnico Eagle, Barrick, BHP, Teck and Soquem. However, none of them are advanced projects.
The key for... more
10/03/2024
Analysis
Updated: Emmerson Resources Ltd
Emmerson Resources is a project generator focused in Australia. They have a significant high-grade discovery (Tennant Creek) that is driving their share price higher. Tennant Creek is a 25% JV with the potential to become a large mine. They recently did... more
10/03/2024
Analysis
Updated: Tudor Gold Corp
Tudor Gold has one large project (Treaty Creek) in the golden triangle in British Columbia. Treaty Creek (45,000 acres). Early drill results in 2019 increased their FD market cap to $77 million. Then, in 2020, it jumped to $458 million. One drill hole... more
10/03/2024
Analysis
Updated: SSR Mining Inc
SSR Mining (previously Silver Standard Resources) has become mostly a gold mining company. They purchased the Marigold mine in 2013 from Barrick Gold in Nevada. This was a good deal. Marigold will give them 150,000 oz of gold production for 15 years. It†more
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