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News from November 2012
Updated: Centamin Plc
Centamin Plc is a mid tier producer in Egypt. In October 2012, a court ruling removed Centamin's rights to mine in Egypt. This is currently under appeal. Because this is a 50/50 JV with an Egyptian government agency, it will likely be overturned. However, more
Updated: Mandalay Resources Corp.
Mandalay is an emerging mid tier silver producer (they also produce gold). They are not significantly undervalued because they have low resources, but the management team is aggressive and is trying to increase production. They have several red flags:... more
Updated: Redstar Gold Corp
Redstar is a project generator without an advanced stage project. However, they have 5 JV’s on their 16 properties and likely will add more JVs. All they need is to find one large mine to make them a 5 bagger, because their fully diluted market cap is... more
Updated: Rubicon Minerals Corp.
Rubicon Minerals is a near term producer in Canada (180,000 oz). A lot of the upside has already been built into the stock price. Now with a fully diluted market cap of $940 million, the upside is a bit constrained. I like this stock because they are... more
Updated: Balmoral Resources Ltd
Balmoral Resources has 10 bagger potential. They own an 82 kilometer trend in a high grade gold bearing zone (Abititbi in Quebec). This gold bearing zone is next door to the 18 million oz Detour Lake mine. They began the company in late 2010 with 1... more
Updated: Bear Creek Mining Corp.
I loved Bear Creek Mining until June 25, 2011. That was the day the President of Peru did the highly unusual act of revoking the mining rights at their Santa Ana project. He did this because of political pressure from local resistance to the project in... more
Updated: Gogold Resources Inc.
GoGold Resources has potential, but the risk is substantial. They have a large property (175,000 acres) in the Sierra Madre belt in Mexico, called San Diego. They have just begun drilling and have two significant discoveries. Both the Breccia Hill... more
Updated: Columbus Gold
Columbus Gold is a long term high speculation stock, but the upside potential is significant. They have 27 properties in Nevada that are all early exploration (10 are JVs). Nine are being drilled in 2012 (23,000 meters). They (or their partners) only... more
Updated: Resource Capital Gold Corp
Reliance Resources is a high risk speculation stock and a long term investment. I like their chances, but I am not an investor because of the high risk and the fact that they have not yet found a mine. They are exploring in areas where gold is commonly... more
Updated: Bravada Gold Corp.
Bravada Gold has a tiny market cap of only $8 million fully diluted. They have 18 Properties in Nevada with significant exploration potential. The company was a roll out from Bravo Gold and is a relatively new project generator. Argonaut Gold has a 3... more
Updated: Mawson Resources Ltd
Mawson Resources is a new project generator focusing in Sweden and Finland. They do not yet have any JV deals, but they have a big project in Sweden called Rompas. Soil samples have averaged 3 opt, and 171 samples averaged 30 opt. They began initial... more
Updated: Midas Gold Corp
Midas Gold is highly undervalued. They have a very large project in Idaho that is heading to production around 2017. Golden Meadows is a 7 million oz resource (1.6 gpt) that is growing in size, and has significant exploration potential. They have a fully... more
Updated: Xtra Gold Resources Corp
Xtra-Gold is a project generator with one property in Ghana, Africa The Kibi project has significant potential. It is on 55,000 acres and has 4 deposits that they are drilling. Zone 2 had a 43-101 resource estimate in 2012 of 400,000 oz at 2 gpt (near... more
Updated: Evolving Gold Corp
Evolving Gold is a relatively new project generator, led by excellent geologists. They have several exciting properties. Their Rattlesnake Hills project in Wyoming is on 14,000 acres and has had 225 holes drilled (76,000 meters). Based on drill results,... more
Updated: Southern Arc Minerals Inc
Southern Arc is a project generator, meaning that they stake and drill. Their objectives are not to mine gold, but to find it and option it to a partner (called a Joint Venture). They
have 4 properties in Indonesia that have substantial potential. The... more
Updated: Goldgroup Mining Inc
Goldgroup is a highly undervalued small producer in Mexico, with two nice projects in their pipeline. Their 100% owned Caballo open pit project will produce 100,000 oz in approximately 2016. They still need final permits and financing, but the capex is... more
Added: Solitario Zinc Corp
Solitario Exploration & Royalty has a late stage project (Mt Hamilton) in Nevada that looks promising. It is a relatively small project at 1 million oz (.8 gpt), but it has a small capex ($72 million) and is a low cost surface mine. I would expect the... more
Updated: Nighthawk Gold Corp
Nighthawk Gold Corp. has a potentially long life mine in Northern Canada. Their large property in the Indin Lake Gold Camp is on 220,000 acres. This camp has 16 million ounces of historical production at 1.6 gpt. Their Colomac Gold mine is a 1.5 million... more
Updated: ATAC Resources Ltd.
ATAC Resources is still in early exploration and have not yet released a resource estimate. They have a $261 million fully diluted market cap, and in 2010 it was 200% higher in value. Their Rackla Gold project in the Yukon is on a 115 mile narrow trend,... more
Updated: Orca Gold Inc
Canaco Resources had a lot of buzz until recently. Their stock rocketed from under a $1 to $6 from 2008 to 2011. But then it started going down, today at .41 cents! The first hole at their Magambazi project was 59 meters at 4 gpt. That is high grade for... more
Updated: Coral Gold Resources Ltd.
Coral Gold appears to be an excellent speculation stock, but there is substantial risk. They have a 3.3 million oz resource (.5 gpt). It is near surface oxides which are cheap to mine, and the capex should be low. And the fully diluted market cap is only... more
Updated: Metanor Resources Inc.
Metanor Resources has not performed as a stock or company. However, they have two excellent properties and are projected to begin production (Bachelor Lake) in 2013 at 60,000 oz. I have my doubts about management, but I think they might turn things... more
Updated: Alio Gold Inc.
Timmins Gold is a young company that just began producing in 2010. They are aggressive with the drill bit and have 650,000 acres to explore. They have ample cash flow from 130,000 ounces of production to find a few more mines. Long term I expect a lot... more
Updated: Atlanta Gold Inc
Atlanta Gold is a highly undervalued stock. They have a $10 million fully diluted market cap and are likely to have a 1.5 million oz resource in 2-3 years. It is already 1 million oz at 3.8 gpt. The plan to bulk sample 15,000 oz in 2013 and 2014 to... more
Updated: Emgold Mining Corp.
Emgold Mining is a high risk / high reward speculation stock. They have a market cap of $6 million fully diluted and their future reserves are valued at $2.50 per oz. If they do make it into production, those reserves are likely to be valued over $100.... more
Updated: First Majestic Silver Corp
First Majestic Silver was my favorite stock in January 2009. Since then it has increased in value from $1.25 per share to $24. They have several monster properties in Mexico that are all long life medium to high grade silver mines. Production will... more
Updated: Loncor Resources Inc
Loncor Resources has considerable upside potential. It is a new company with 5 million acres of exploration potential in the DRC (Democratic Republic of Congo). When I looked at them last year, they had a fully diluted market cap of $113 million. I... more
Updated: Pretium Resources Inc
Pretium Resources has a lot of upside potential. The have 65 million oz of gold and 300 million oz of silver at their Brucejack and Snowfield properties in Canada. They are highly undervalued, with future reserves valued at $27 per oz. They have... more
Updated: Americas Silver Corp.
Scorpio Mining is a solid silver producer focused in Mexico. They have all the factors to be successful: excellent properties, growth potential, low costs, good location, and a good management team. Perhaps the only negative is their share structure, but... more
Updated: Silver Bull Resources Inc
Silver Bull Resources appears to be highly undervalued. They have already found 82 million oz (45 gpt), which qualifies as a long life flagship mine. The property is on 48,000 acres which is very large for exploration possibilities. This stock looks like... more
Updated: Tinka Resources Ltd.
Tinka Resources rose 50% in value the past 12 months. Last year I had it highly undervalued and a likely 3-5 bagger long term. However, that assumes they build and operate the mine. Until they make the commitment to build the mine, I would hold off... more
Updated: Levon Resources Ltd
Levon Resources has a huge potential mine in Mexico. The Cordero project has 450 million oz of silver, 1 million oz of gold, 5 billion lbs of zinc, 3 billion lbs of lead, and they are still drilling aggressively. They released a PEA in March 2012 and... more
Updated: Pan American Silver Corp.
Pan American Silver is one of the best silver majors. They plan to increase production from 24 million oz to 30 million oz by 2016. As long as silver prices stay high, they are going to be a cash flow machine. I see them as a likely 3 bagger by 2015, and... more