News from November 2024

11/30/2024

Analysis

Updated: Black Dragon Gold Corp

Black Dragon Gold (formerly Astur Resources) is a case study on the high risk of gold mining stocks. They had an economic project (Salave in Spain) and then their environmental mining permit was denied. The stock crashed from 47 cents to 1 cent. Now They... more

11/30/2024

Analysis

Updated: Eros Resources Corp

Eros Resources is a small developer in Nevada. Until recently, their sole gold project was Bell Mountain, which they had been trying to sell for over a year but faced challenges meeting TSX Venture Exchange requirements. The project contains 90,000... more

11/30/2024

Analysis

Updated: Loncor Resources Inc

Loncor Resources is a project generator with 3.5 million acres in the DRC (Democratic Republic of Congo). When I looked at them in 2012, they had an FD market cap of $113 million. I thought that was a bit pricey for a company without any resources. Their... more

11/30/2024

Analysis

Updated: Vulcan Minerals Inc

Vulcan Minerals is a project generator focused in Newfoundland, Canada. They have three early exploration projects. Gander (1,500 acres). Colchester-Springdale (10,000) acres. Red Cross Lake (6,200 acres). They have spent most of their time doing early... more

11/30/2024

Analysis

Updated: Tinka Resources Ltd

Tinka Resources is a project generator with two significant projects in Peru. Their Ayawilca zinc/tin/silver project (35,000 acres) already has 2.5 billion lbs of zinc (7 billion lbs of zinc equivalent). They updated their PEA in 2024, with a 21-year... more

11/29/2024

Analysis

Updated: Aton Resources Inc

Aton Resources (formerly Alexander Nubia International) has several early exploration projects in Egypt. They have 175,000 acres of claims (24-mile trend with 14 target areas). The Hamama project already has a 500,000 oz 43-101 resource estimate (indicate more

11/29/2024

Analysis

Updated: Argent Minerals

Argent Minerals is trying to advance a silver/zinc/gold project in Australia. Their Kempfield project is becoming advanced. It is a low-grade silver/gold/base metals project, with gold, lead, and zinc offsets. It will likely be economic at higher silver... more

11/29/2024

Analysis

Updated: Firefox Gold

Firefox Gold is a new project generator focused in Finland. They did their IPO in 2018 and are exploring 6 properties with a total of 200,000 hectares. Some of their properties have past exploration and are potential discoveries. Mustajarvi is a... more

11/29/2024

Analysis

Updated: Kirkland Lake Discoveries Corp

Kirkland Lake Discoveries Corp (formerly Warrior Gold) is a project generator focused on Canada. They have two properties: KL East Side and KL West Side, the latter hosting the Goodfish-Kirana project, which spans 9,000 acres. It is strategically located... more

11/29/2024

Analysis

Updated: Condor Gold Plc

Condor Gold is advancing a 3 million oz project (La India) in Nicaragua. It is construction-ready with a feasibility study with a $106 million capex with an AISC around $1100 per oz to produce 80,000 to 120,000 in 3 open pits. This is phase 1. If they... more

11/29/2024

Analysis

Updated: Patagonia Gold Plc

Patagonia Gold (formerly Hunt Mining) is a small-scale producer operating in Argentina. They produce approximately 700,000 ounces AuEq per quarter at Lomada, a deposit with a short mine life. Currently, they have around 2.5 million oz AuEq. Their... more

11/29/2024

Analysis

Updated: Pacific Ridge Exploration Ltd

Pacific Ridge Exploration is a project generator that has been operating for 45 years. The company has nine early-stage gold exploration projects, three in the Yukon and six in British Columbia. They are also advancing three copper-gold porphyry projects, more

11/28/2024

Analysis

Updated: Pacgold Ltd

Pacgold Ltd is a project generator based in Australia. Their sole project, Alice River (on 80,000 acres) is part of a fault system with kilometers of prospective targets and IP anomalies with significant potential. Their most advanced prospect is the... more

11/28/2024

Analysis

Updated: Oriole Resources PLC

Oriole Resources is a project generator focused in West Africa. They have 4 properties, plus equity interest in 4 companies, plus 2 NSRs. Their Senala project in Senegal is a 35% JV. This project looks to have good potential based on previous drilling (su more

11/27/2024

Analysis

Updated: Aeris Resources Ltd

Aeris Resources is a copper and gold producer. Their Tritton copper mine produces about 20,000 tons a year. If copper prices rise, that will give them a lot of free cash flow (over $50M). They also have Cracow, a small underground gold mine. Their gold... more

11/26/2024

Analysis

Updated: Nicola Mining Inc

Nicola Mining (formerly Huldra Silver) was a small producer in Canada (British Columbia). They have a high-grade (20 opt) deposit (Treasure Mountain). They produced 600,000 oz in 2013 and could have been able to ramp up to around 1 million oz with... more

11/24/2024

Analysis

Updated: Inflection Resources Ltd

Inflection Resources is a project generator focused in Australia. They have a huge property on 1.2 million acres in New South Wales (they are calling it Northern NSW), but have not made a discovery yet. It is situated in a sizable mining district... more

11/24/2024

Analysis

Updated: Radisson Mining

Radisson Mining is advancing a high-grade gold project in Quebec. Their O'Brien (13,000 acres) underground project has 1m oz (8 gpt) and likely will increase in size (it was only mined to 1100 meters at depth). It is past producing mine with a mill, but... more

11/24/2024

Analysis

Updated: Austral Gold Ltd

Austral Gold is a gold producer in Chile (Guanaco and Amancaya). They currently produce about 15,000 oz of gold equivalent (including silver). Production should increase to about 35,000 oz when they restart their Casposo mine in Argentina in 2025 or 2026. more

11/24/2024

Analysis

Updated: Andean Silver Ltd

Andean Silver (previously Mitre Mining) is an Australian-based development company. In 2023, they acquired the Cerro Bayo silver/gold project (70,000 acres) located in Chile. This is a game-changer for them. The mine was put on C&M in 2022 after... more

11/23/2024

Analysis

Updated: Siren Gold Ltd

Siren Gold is a project generator focused in New Zealand. In 2024, they sold their Reefton project to Rua Gold for $18M in Rua shares. They kept Sam's Creek, which is an 82% JV. It has 700,000 oz at 2.8 gpt AU (their share) and is growing in size. I'm... more

11/22/2024

Analysis

Updated: Triumph Gold Corp

Triumph Gold (formerly Northern Freegold) is a project generator in the Yukon. They have drilled about 3% of their flagship Freegold Mountain project (Yukon, Canada) and already have a 1.5 million oz resource (75% recovery) at .55 gpt AU. It is a 2... more

11/22/2024

Analysis

Updated: Westhaven Gold

Westhaven Gold (formerly Westhaven Ventures) is a project generator in Canada. They had a major discovery (17 meters at 24 gpt) at Shovelnose in 2018 (British Columbia). The stock blasted off over $1, but has come back down, and currently trades at 10... more

11/21/2024

Analysis

Updated: Santana Minerals Ltd

Santana Minerals is advancing a large gold project in New Zealand. The Bendigo-Ophir-RAS project is already 3M oz at 2.3 gpt (high-grade open pit) and is growing in size. The bad news is that it is not cheap, with a $281M FD market cap. Investors like it. more

11/21/2024

Analysis

Updated: Chibougamau Independent Mines Inc

Chibougamau Independent Mines has a large (23,000 acres) gold/copper exploration property (Chibougamau) in Quebec. It has 5 past producing gold/copper mines and a 3,000 tpd mill. The best thing about it is the location. Also, it has significant... more

11/20/2024

Analysis

Updated: Nicola Mining Inc

Nicola Mining (formerly Huldra Silver) was a small producer in Canada (British Columbia). They have a high-grade (20 opt) deposit (Treasure Mountain). They produced 600,000 oz in 2013 and could have been able to ramp up to around 1 million oz with... more

11/20/2024

Analysis

Updated: Legacy Iron Ore Ltd

Legacy Iron Ore is focused in Western Australia. They have one gold project (South Laverton) on 100,000 acres. It has four deposits (Mt Celia, Yilgangi, Patricia North, and Sunrise Bore). They are drilling all of them. They plan to mine in Mt Celia (300K... more

11/19/2024

Analysis

Added: African Gold Ltd

African Gold is an Australian project generator focused on West Africa. They have several properties in Cote d'Ivoire and Mali. Their main focus in Didievi (100,000 acres) in Cote, which is a high-grade open pit that is growing in size. The deposit it... more

11/17/2024

Analysis

Added: Metal Hawk Ltd

Metal Hawk is a project generator focused in Australia. They have a potential discovery in Western Australia. Their Leinster South - Siberian Tiger property (100,000 acres) has a 3.8 kilometer strike using surface samples and is ready to drill. The... more

11/17/2024

Analysis

Updated: Gateway Mining

Gateway Mining is a project generator focused in Western Australia. They have several properties they are exploring. Their large Montague West property (100,000 acres) is a discovery that they are drilling. It is similar to their Montague East property... more

11/16/2024

Analysis

Updated: Goldflare Exploration Inc

Goldflare Exploration (previously Typhoon Exploration) is a gold exploration company that began in 2003. They have 7 properties in Southern Quebec in the Abitibi gold belt, All are early exploration. The properties range from 700 acres to 3000 acres.... more

11/16/2024

Analysis

Added: Argenta Silver Corp

Argenta Silver was formed in 2024, when they acquired the El Quevar project from Golden Minerals. This is high grade (450 gpt AG) silver project in Argentina in the Salta district, which is one of the best mining districts in Argentina. It has excellent... more

11/16/2024

Analysis

Added: Yukon Metals Corp

Yukon Metals is a project generator focused in the Yukon. It's a new company that was formed in 2024. They have 15 properties on 90,000 acres. All of them are early exploration with little drilling. It's amazing that their valuation is $34M without a... more

11/15/2024

Analysis

Updated: Wesdome Gold Mines Ltd

Wesdome Gold Mines is a mid-tier producer in Canada (Ontario and Quebec). They have two high-grade underground mines in good locations. They only have 2.5 million oz, but that total should increase. I expect them to find at least 3 million oz and perhaps... more

11/15/2024

Analysis

Updated: Wheaton Precious Metals Corp

Wheaton Precious Metals (previously Silver Wheaton) is a large gold/silver royalty company. They have streaming agreements on 18 operating mines, with another 28 in development. 93% of their assets fall on the lower half of the cost curve. Total cash... more

11/15/2024

Analysis

Updated: Sailfish Royalty Corp

Sailfish Royalty is a new company. They only have 6 NSR properties, but one of them (San Albino) began paying out in 2021 at about $3 million per year. At higher gold prices, it could double in value. The risk is San Albino is in Nicaragua which had... more

11/15/2024

Analysis

Updated: Metalla Royalty

Metalla Royalty & Streaming (formerly Excalibur Resources) is a newer royalty company formed in 2016. They grew aggressively and had 70 royalty and streaming properties before agreeing to a merger with Nova Royalty. Existing Metalla shareholders will own... more

11/14/2024

Interview

Sonoro Gold CEO Interview

https://youtu.be/wYNjuKgBhGI?si=R6xTnuPNN5vD1ytk more

11/14/2024

Analysis

Updated: Yorbeau Resources

Yorbeau Resources is a project generator in Canada. they have 4 precious metals and 6 base metals projects, all of them in Quebec. They sold thier Rouyn property to Australian investors for C$2M up front. And another C$3M by year end of 2024. And then... more

11/14/2024

Analysis

Updated: Platina Resources Ltd

Platina Resources is a project generator focused in Australia. They have 7 gold properties in Western Australia. All of them are early exploration. They are mostly large properties and one of them (Xanadu) has a discovery (83 meters at .6 gpt).... more

11/14/2024

Analysis

Updated: Hochschild Mining Plc

Hochschild Mining is a large gold/silver producer in South America. They will produce around 250,000 oz of gold and 8 million oz of silver in 2025 (although they are planning to place Pallancata, which produces 2M oz of silver on C&M because of high... more

11/13/2024

Analysis

Updated: Troilus Gold Corp

Troilus Gold is developing a large open pit mine (Troilus) in Quebec. The deposit is around 10 million oz (.5 gpt AU). It's a huge open pit. Fortunately, it is a past-producing open pit with a permitted tailings area. Plus, the Quebec government owns 12%... more

11/13/2024

Analysis

Updated: Bellevue Gold

Bellevue Gold is developing a large high-grade project in Western Australia (Bellevue). Investors like it, giving them a FD market cap of $1 billion. It is 3.2 million oz (10 gpt) resource. It is economic at low gold prices, with all-in costs (break-even) more

11/13/2024

Analysis

Updated: Bellevue Gold

Bellevue Gold is developing a large high-grade project in Western Australia (Bellevue). Investors like it, giving them a FD market cap of $1 billion. It is 3.2 million oz (10 gpt) resource. It is economic at low gold prices, with all-in costs (break-even) more

11/12/2024

Analysis

Updated: Galantas Gold Corp

Galantas Gold is trying to build a small high-grade underground mine in Ireland. It has a low capex ($11 million) because they already have a mill, which was recently used for open pit mining. The Omagh mine is 400,000 oz at 6 gpt. They will need to... more

11/12/2024

Analysis

Updated: Eldorado Gold Corp

Eldorado Gold is a large mid-tier producer with a lot of reserves (17 million oz). They have been a growth-oriented company. They have 4 operating mines, plus 2 more (Skouries and Perama) are being developed. Production will rise from 480,000 oz to about... more

11/11/2024

Analysis

Updated: First Mining Gold

First Mining Gold was started as a new company in 2014 by Keith Neumeyer, the CEO of First Majestic Silver. His goal was to grow the company by creating a mineral bank of properties. However, in 2017, he hired a CEO (Jeff Swinoga) to develop their... more

11/11/2024

Analysis

Updated: i-80 Gold Corp

i-80 Gold was created as a spin-out when Equinox Gold acquired Premier Mining. They have four significant properties in Nevada with 15 million oz of gold, plus 175M oz of silver (but low grade). Plus, they have substantial exploration potential to add... more

11/11/2024

Analysis

Updated: Adriatic Metals

Adriatic Metals is building a large silver/zinc/gold/copper mine (Vares - Rupice) in Bosnia. First pour was achieved in Q3 2024. Commercial production is scheduled for Q4 2024. The capex was $170 million and was mostly financed with debt. They have $120... more

11/10/2024

Analysis

Updated: Riley Gold Corp

Riley Gold is a new project generator focused on Nevada. They have two early-stage exploration projects, with their primary focus on the Pipeline West/Clipper (PWC) property, which spans 6,000 acres. They have entered a JV with Kinross, which holds the... more

11/09/2024

Analysis

Updated: Unico Silver

Unico Silver (previously E2 Metals) is advancing two large silver projects in Argentina (the Santa Cruz area, which is ideal for mining). In 2023, they acquired the large Pinguino project (80M oz AGEQ) from Austral Gold. It was a game-changer for them.... more

11/09/2024

Analysis

Updated: Montage Gold Corp

Montage Gold is advancing a large open-pit project (Kone - Gbongogo) in West Africa (Cote d’Ivoire). They have 500,000 acres and 5 million oz of gold and are finding more. Their 4 million oz (reserves) open pit has various grades (.9 gpt to .5 gpt), so... more

11/08/2024

Analysis

Updated: Dolly Varden Silver Corp

Dolly Varden Silver is project generator in Canada. They have a large property in British Columbia (40,0000 acres), that has 12 deposit areas. Dolly Varden (50 million oz of silver at 300 gpt) and Homestake Ridge (1 million oz of gold at 4.5 gpt, plus... more

11/08/2024

Analysis

Updated: Eskay Mining Corp

Eskay Mining has 150,000 acres next to the large Seabridge Gold and Skeena Resources projects in the Golden Triangle (British Columbia, Canada). They used to have 3 properties (SIB, Corey, North Mitchell), but in 2021, they were consolidated into a... more

11/06/2024

Analysis

Updated: Fancamp Exploration Ltd

Fancamp Exploration is an experienced project generator with 12 projects, including 6 high-priority projects and 10 NSRs. It will be interesting to see if they want to become explorers and or mine builders or if they pivot to more of a royalty holding... more

11/06/2024

Analysis

Updated: Vior Inc

Vior Inc (Societe D Exploration Mineire Vior) is a project generator in Quebec, Canada which is one of the best jurisdictions in the world. This is a high risk speculation explorer, but they are in a good location. They have been around since 1984 and... more

11/04/2024

Analysis

Updated: Tanami Gold NL

Tanami Gold is a project generator focused in Australia. They have a 50% JV with Northern Star (Australian major) called CTPJV (Central Tanami) which has 2.7 million oz at 2.8 gpt. Northern Star is the operator. This looks like a large mine that will get... more

11/04/2024

Analysis

Updated: Palamina Corp

Palamina Corp is a new project generator. They operate in Peru and have seven early exploration projects, totaling 190,000 acres. They received approval to drill in the Sol de Oro and Cayos zones at their Usicayos Gold Project. Usicayos (previously known... more

11/04/2024

Analysis

Updated: Sunstone Metals

Sunstone Metals is an Australian-based project generator with two gold/copper projects in Ecuador. Both projects are early exploration, but both appear to be discoveries. El Palmer has a maiden MRE of 1.2Moz Gold equivalent. This potentially could be an... more

11/03/2024

Analysis

Updated: Maronan Metals Ltd

Maronan Metals is a new Australian company formed from a spinout by Red Metals, which is a large shareholder (44%). I think they are a project generator, but might be a developer. They are currently drilling their Maronan property (8,000 acres) in... more

11/03/2024

Analysis

Updated: Felix Gold Ltd

Felix Gold is an Australian project generator focused in Alaska. They have several large properties in a good location near Fairbanks. They are drilling a discovery at their Treasure Creek property (28,000 acres). Initial results were promising, with... more

11/03/2024

Analysis

Updated: New Murchison Gold

Ora Gold (formerly Thundelarra) is trying to become a gold producer in Australia. Their Crown Prince project (60,000 acres) is exciting. It is in a good location in Western Australia, which is a large mining district. It is currently only a 250K oz... more

11/02/2024

Analysis

Updated: Fortuna Mining

Fortuna Mining (previously Fortuna Silver) is a mid-tier gold and silver producer in Mexico, Peru, Argentina, and West Africa (Burkina Faso, Cote d'Ivoire, Senegal). They used to be focused in Mexico and South America. Today, their focus has pivoted to... more

11/01/2024

General

October 2024 Newsletter Posted

October 2024 Newsletter Posted. more

News from November 2024

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