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News from July 2015

07/29/2015
Analysis  
Updated: Eldorado Gold Corp
Eldorado Gold is a major and a strong company with a lot of reserves (26 million oz). They have been a growth oriented company with production increasing from 100,000 oz in 2006 to 750,000 oz in 2014. They have 6 operating mines and 2 more under...  more
07/28/2015
Analysis  
Updated: Idm Mining Ltd
IDM Mining recently optioned a project in Canada from Seabridge Gold. Red Mountain is an advanced project with a positive PEA. It is economic with a high IRR (35% after-tax), but a short mine life. The cash costs are projected to be under $500 per oz....  more
07/26/2015
Analysis  
Updated: Alamos Gold Inc
Alamos Gold is a mid tier producer that has been on mission to become a major. They have acquired 3 companies in the past 3 years (including Aurico Gold in 2015). They now have 20 million oz in resources and are giving guidance to become a 700,000 oz...  more
07/26/2015
Analysis  
Updated: Compania De Minas Buenaventura Saa
Buenaventura Mining is large major with production of 800,000 oz of gold, 20 million oz of silver, and significant copper and zinc (30% of revenue comes from base metals). They do have a pipeline of 12 projects that will provide steady growth. They low...  more
07/26/2015
Analysis  
Updated: Kirkland Lake Gold Ltd
Kirkland Lake Gold is a mid-tier producer in Canada. They have one large property (Kirkland Lake) in Ontario on 13,000 acres. It is a 5 million oz resource (16 gpt) that will produce about 150,000 oz in 2015 and 200,000 oz around 2017. Cash costs are...  more
07/26/2015
Analysis  
Updated: Millrock Resources Inc.
As far as project generators go, Millrock Resources is a good one. They are cheap ($5 million fully diluted market cap) and are poised to grow. They have 8 JVs and this number should increase over time. They have 9 properties in Alaska (which is nearly...  more
07/26/2015
Analysis  
Updated: Pelangio Exploration Inc.
Pelangio Exploration is a relatively new project generator and has three large exploration projects in Ghana (125,000 acres). It looks like they have found a potential million oz mine (Manfo). The initial resource estimate came out in 2012 at 500,000 oz (  more
07/26/2015
Analysis  
Updated: Troy Resources Ltd
Troy Resources is a mid-tier producer. They appear to have a strong management team who is shareholder focused. They pay a dividend which is impressive for a mid-tier producer. They have two solid projects. In Argentina (Casposo) they have a gold/silver...  more
07/26/2015
Analysis  
Updated: Troy Resources Ltd
Troy Resources is a mid-tier producer. They appear to have a strong management team who is shareholder focused. They pay a dividend which is impressive for a mid-tier producer. They have two solid projects. In Argentina (Casposo) they have a gold/silver...  more
07/26/2015
Analysis  
Updated: Troy Resources Ltd
Troy Resources is a mid-tier producer. They appear to have a strong management team who is shareholder focused. They pay a dividend which is impressive for a mid-tier producer. They have two solid projects. In Argentina (Casposo) they have a gold/silver...  more
07/25/2015
Analysis  
Updated: Kinross Gold Corp.
Kinross Gold is a major with 2.5 million oz of gold production and 5 million oz of silver. Their all-in costs for 2015 are projected to be around $1100 (cash costs per oz around $750). They are a growth company with plans to expand production to 4...  more
07/25/2015
Analysis  
Updated: Golden Predator Mining Corp
Golden Predator is a project generator in the Yukon. They have some interesting properties and are very cheap ($2 million fully diluted). They recently obtained the Brewery Creek open pit gold project (1.5 million oz at 1.2 gpt). They released a PEA in...  more
07/25/2015
Analysis  
Updated: Rusoro Mining Ltd.
Rusoro Mining had their large gold mine (17 million oz) in Venezuela nationalized in 2012. It looks dire. Their stock price is down to .02 cents, with a FD market cap of $16 million. They have a claim for $3 billion in an international court, but these...  more
07/24/2015
Analysis  
Updated: Dundee Precious Metals Inc
Dundee Precious Metals is mid-tier producer. They have two producing gold mines in Bulgaria (Chelopech) and Armenia (Kapan) at 150,000 oz, with significant offsets in silver, copper, and zinc to make them a low cost producer. Cash costs are under $500...  more
07/24/2015
Analysis  
Updated: Goldcorp Inc.
GoldCorp is growing and plans to increase gold production from 3.3 million oz in 2015, to 4 million oz in 2017. Until recently, they had very low cash costs, but in 2014 their cash costs jumped to about $600 and all-in costs to about $1000 per oz. Those...  more
07/24/2015
Analysis  
Updated: Guyana Goldfields Inc.
Guyana Goldfields is near-term producer. Investors love the stock. Gold has crashed to $1100 and this stock has barely moved. This company could be a 5 bagger at higher gold prices and increased production. It was a steal two years ago, but has increased...  more
07/24/2015
Analysis  
Updated: Intl. Tower Hill Mines Ltd
Int. Tower Hill Mines has a monster project (Livengood) in Alaska with 20 million oz (.5 gpt) with a 80% recovery rate. The initial PEA called for production to begin in 2019 at 550,000 oz per for 23 years (13 million oz). Estimated cash costs were...  more
07/24/2015
Analysis  
Updated: Pure Gold Mining Inc
Pure Gold Mining has an excellent gold project in Red Lake, Ontario. It is a large property on 12,000 acres and high grade. It is already a 1.2 million oz deposit at 9 gpt. Everything about this project looks good. That is probably why Rob McEwen owns 11%  more
07/19/2015
Analysis  
Updated: Auramex Resource Corp
Auramex Resources is a small explorer with 3 properties (two in Canada and one in Mexico). Their Stewart property in British Columbia is on 100,000 acres and they have done some drilling and found some gold. This is their current focus and recently...  more
07/19/2015
Analysis  
Updated: Gold Reserve Inc
Gold Reserve Inc has been on hold since April 2008, when their mining license was revoked on their Brisas project. Unless the Venezuela government gives them the green light to build the mine, this stock is at risk. Moreover, even if they receive the...  more
07/19/2015
Analysis  
Updated: Golden Star Resources Ltd.
Golden Star Resources is an old company with 25 years of experience. They are undervalued with future reserves valued at $11 per oz. This makes them a potential 25 bagger. The reason for this low valuation is their current all-in costs of around $1400...  more
07/19/2015
Analysis  
Updated: Altus Strategies Plc
Legend Gold Corp is a project generator in Africa. They have 22 properties on 750,000 acres in Mali (West Africa) and the Congo (Central Africa). All are 100% owned. They have a 600,000 oz resource (Tiekoumala) that is growing and another discovery (Lakan  more
07/18/2015
Analysis  
Updated: DRDGOLD Ltd.
DRDGOLD is a mid-tier producer in South Africa. They recently sold their underground mine for $18 million. Blyvoor had high cash costs and they wanted to focus on their higher margin tailing reclamation project (from three old surface mines). Their gold...  more
07/18/2015
Analysis  
Updated: Endeavour Mining Corp
Endeavor Mining is a mid-tier producer in West Africa (operating mines in 4 countries). In 2011, they had 159 million shares FD shares, and now they have 441 million. That dilution hurt the stock valuation and may have soured a few investors appetite for...  more
07/18/2015
Analysis  
Updated: Gold Fields Ltd.
Gold Fields is a large major with a focus in Africa. They currently produce 2 million oz per year with all-in costs around $1150. They should be able to maintain or expand production with 8 projects in their pipeline. The Deep South mine could add 700,000  more
07/18/2015
Analysis  
Updated: Goldrich Mining Co
Goldrich Mining is a small producer in Alaska (only 7,000 oz). They have two large properties in Alaska (190 miles north of Fairbanks) in an existing mining district. It has significant infrastructure, but I don't think there is a road all the way from...  more
07/18/2015
Analysis  
Updated: Nautilus Minerals Inc.
Nautilus Minerals is a high risk speculation stock, however, the sky is the limit. They are planning to mine from the sea floor at deep depths (5000 feet and deeper). If it works, they will likely expand rapidly, adding reserves and new mines. They...  more
07/18/2015
Analysis  
Updated: New Gold Inc.
New Gold is a relatively new major with growth prospects (although most of their growth won’t happen until 2017). It's going to be interesting to see how companies such as New Gold get valued as gold heads higher. Today their 400,000 oz of production...  more
07/18/2015
Analysis  
Updated: Visible Gold Mines Inc
Visible Gold Mines has six early exploration projects in Quebec. They are a new company, with a good management team and a skilled geologist named Robert Sansfacon. In 2011 they drilled 40,000 meters and have spent $10 million on exploration. They are...  more
07/17/2015
Analysis  
Updated: Core Gold Inc
Dynasty Metals is a gold producer in Ecuador. Their problem is the high mining tax. Investors are going to avoid Ecuador until they lower the tax rate. The windfall tax rate is 70%. Ecuador said they were going to reduce their mining taxes to attract...  more
07/16/2015
Analysis  
Updated: Barrick Gold Corp
Barrick Gold is a monster company with 215 million ounces of gold and projections to increase production steadily from 6.5 million ounces to 8 million (excluding copper, which is projected to reach 1 billion lbs) over the next 4 years. They will spend...  more
07/16/2015
Analysis  
Updated: Turquoise Hill Resources Ltd
Turquoise Hill Resources is really a copper producer, which is 51% owned by Rio Tinto (one of the largest copper producers). I'm including it in my database because the Oyu Tolgoi property is one of the 10 largest gold deposits in the world at 62 million...  more
07/15/2015
Analysis  
Updated: Alexco Resource Corp.
Alexco Resources was silver producer in the Yukon until 2014. They were producing 1.5 million oz annually at their Bellekeno mine. High costs forced them to put it on care & maintenance. They have an excellent 55,000 acre property (Keno Hill) located in...  more
07/15/2015
Analysis  
Updated: Alexco Resource Corp.
Alexco Resources was silver producer in the Yukon until 2014. They were producing 1.5 million oz annually at their Bellekeno mine. High costs forced them to put it on care & maintenance. They have an excellent 55,000 acre property (Keno Hill) located in...  more
07/13/2015
Analysis  
Updated: Marifil Mines Ltd.
Marifil Mines is a project generator in Argentina. They have 17 properties, although about half of them are potash. They have gold, silver, base metals, and potash. They have one significant JV with Novagold, where they have a 30% interest. Novagold has...  more
07/13/2015
Analysis  
Updated: Trimetals Mining Inc.
TriMetals Mining (formerly South American Silver) has been a painful fall for their investors. It fell from $3.25 a share in 2010 to today’s price of .04 cents. Ouch. Today it has a FD market cap of $6 million. This happened because the Bolivian...  more
07/12/2015
Analysis  
Updated: Arian Silver Corp
Arian Silver is a small producer in Mexico. San Jose is a 117 million oz (3.5 opt) deposit. Amazingly, with such a nice project, their FD market cap is only $19 million. That results in future reserves being valued at .38 cents per oz (at $100 silver),...  more
07/12/2015
Analysis  
Added: Sumatra Copper & Gold Plc
Sumatra Copper & Gold is building a small gold mine in Indonesia. Production is expected in 2016 at 40,000 oz per year. They will need exploration success to extend the mine life. They have 6 deposits to expand, so that is very possible. They also have...  more
07/12/2015
Analysis  
Added: Dacian Gold Ltd
Dacian Gold has a large gold project (Mt Morgans) in Western Australia. It has two open pits deposits (Jupiter & Heffernans) with 1.2 million oz (1.5 gpt). And an underground deposit (Westralia) with 850,000 oz (5.8 gpt). They want to build both at once...  more
07/12/2015
Analysis  
Added: Investigator Resources Ltd
Investigator Resources is exploring a silver discovery (Paris) in Australia. It is already a 20 million oz resources (110 gpt) at surface. If they can increase the size of the deposit, this could be a 50 bagger. The FD market cap is only $6 million. It's...  more
07/12/2015
Analysis  
Added: Panterra Gold Ltd
Panterra Gold is a small producer in the Dominican Republic. Their Las Lagunas tailings project has about 4 more years left at 45,000 oz per year. After that they plan to ship gold down from Canada from their 50% JV project (Polaris) to feed the Las...  more
07/12/2015
Analysis  
Added: Crater Gold Mining Ltd
Crater Gold Mining is a near-term producer in Papua New Guinea. Their Crater Mountain project (45,000 acres) has substantial potential in a very good location. They plan to begin mining their HGZ (High Grade Zone) deposit in 2016. It is a high grade...  more
07/11/2015
Analysis  
Added: Bassari Resources Ltd.
Bassari Resources has an advanced gold project in Senegal, West Africa. The Makabingui project (200,000 acres) has a 1 million oz deposit (2.6 gp) with a feasibility study. The capex is only $12 million for the open pit and $35 million for underground....  more
07/11/2015
Analysis  
Added: Bassari Resources Ltd.
Bassari Resources has an advanced gold project in Senegal, West Africa. The Makabingui project (200,000 acres) has a 700,000 oz (their share) deposit (2.6 gpt) with a feasibility study. The capex is only $12 million for the open pit and $35 million for...  more
07/11/2015
Analysis  
Added: Scotgold Resources Ltd.
Scottgold Resources has a small high grade gold deposit in Scotland. It's only 170,000 oz (11 gpt), but they want to produce it. It also has 600,000 oz of silver, so that will reduce the cash costs. They are low on cash and making slow progress. There is...  more
07/11/2015
Analysis  
Added: Gascoyne Resources Ltd
Gascoyne Resources has two advanced gold projects in Australia. The Glenburgh deposit is 1 million oz (1.5 gpt), but the cash costs are bit high $850 per oz to finance it at this time. But once gold prices rise, it will produce 73,000 oz per year if they...  more
07/11/2015
Analysis  
Added: Austral Gold Ltd.
Austral Gold is a gold producer in Chile with a second mine under development. Their Guanaco mine (750,000 oz at 1.5 gpt) produces 50,000 oz at lost cash costs ($600 per oz). It produces significant cash flow and they have a good balance sheet with $11...  more
07/10/2015
Analysis  
Added: Azumah Resources Ltd.
Azumah resources has a large gold project in West Africa (Ghana). They have 5 deposits (WA Project) with 2 million oz at 1.5 gpt, plus 600,000 acres to explore. They are working on a final feasibility study to produce 90,000 oz per year. The problem is...  more
07/10/2015
Analysis  
Added: Manas Resources Ltd.
Manas Resources has two open pit projects in Kyrgyzstan. The Shambesai deposit is 700,000 oz at 2 gpt and they have a feasibility study to produce 50,000 oz per year for a $41 million market cap. They have a FD market cap of $2 million and are having...  more
07/10/2015
Analysis  
Added: Amani Gold Ltd
Burey Gold has two early exploration projects in Africa. Giro is in the DRC on 150,000 acres. They have been drilling in 2014 and 2015 with good results. 81 meters at 1.4 gpt. 55 meters at 3.2 gpt. 97 meters at 2.7 gpt. With those results they should be...  more
07/10/2015
Analysis  
Added: Orinoco Gold Ltd
Orinoco Gold is a near-term gold producer in Brazil. The do not have a company presentation or much information on their website. I had to guess on their production and future reserves. They are planning to begin mining at a rate of 80,000 tpa. They do...  more
07/10/2015
General  
Week in Review
Silver bounced off it's lows and got back over the $15.50 support line. Gold, however, didn't make it back to the $1180 support line. This prevented the miners from rallying. Subsequently the HUI had a dreadful week. It's under the 2008 support line of 145 and in danger territory. Let's hope that when Jupiter goes into Leo on July 15th (a good placement for gold) that gold gets a bounce and we get back over 150 on the HUI. It was the dollar that hurt gold and oil this week. Gold fared better...  more
07/09/2015
Analysis  
Added: Crusader Resources Ltd.
Crusader Resources is an iron ore producer in Brazil with cash flow of around $5 million annually. That money allows them to develop to gold projects in Brazil. Borborema is a 2.5 million oz deposit at 1.1 gpt. They are currently working on a feasibility...  more
07/09/2015
Analysis  
Added: Strategic Minerals Corp. NL
Strategic Minerals is drilling a gold discovery in Australia. They have found 800,000 oz at 1 gpt and will likely find more. They drilled 7,000 meters in 2014 and they have $1.7 million in cash to continue drilling. It's still early exploration and they...  more
07/08/2015
Analysis  
Added: Macphersons Resources Ltd
MacPhersons Resources has a gold project (Boorara) and a silver project (Nimbus) next to each other in western Australia. Both are going to be included in a feasibility study due in 2015. The are targeting production in 2016, but I have my doubts they...  more
07/08/2015
Analysis  
Added: Ausgold Ltd
Ausgold Ltd has a interesting exploration property in western Australia. Katanning is on 500,000 acres and has already had 60,000 meters drilled. The resource size is 400,000 oz, but they have 50+ more targets to drill. What will they find? And how will...  more
07/07/2015
Analysis  
Added: Chalice Gold Mines Ltd.
Chalice Gold has a very good open pit project in Canada (Ontario). The Cameron deposit has 1.3 million oz and management expects it to grow to 1.5 million oz. The grade is very good at 2 gpt, with a 90% recovery rate. With a FD market cap of $22 million,...  more
07/06/2015
Analysis  
Added: Kula Gold Ltd
Kula Gold is one of the most undervalued gold stocks. They have a 2 million oz (1.5 gpt) deposit on Fiji that is financed with a completed feasibility study, and no debt. Yet, their market cap in only $8 million. Future reserves are valued at $4 per oz...  more
07/06/2015
Analysis  
Added: Sihayo Gold Ltd.
Sihayo Gold is trying to build their first mine in Indonesia. They have been in business a long time and have 20 projects. Their Pungkut deposit is 1.4 million oz (2.4 gpt) with a completed feasibility study. The capex is only $58 million, but investors...  more
07/06/2015
Analysis  
Added: Tribune Resources Ltd
Tribune Resources appears to be project generator. They have a 36% JV called Kundana that is in production. They had revenues of $98 million in 2014. They do not have a company presentation on their website or any information about their properties (excep  more
07/06/2015
Analysis  
Added: Alkane Resources Ltd.
Alkane Resources is small gold producer at 50,000 oz per year. They have a lot of experience and good management team. Their Tomingley mine has 800,000 oz and should be a 10 year mine. The key to this stock is their rare earth Dubbo project. It has a $750  more
07/06/2015
Analysis  
Added: Red 5 Ltd.
Red 5 LTD is small gold producer in the Philippines. They are currently optimizing the open pit and planning to mine underground. The Siana project is 1.3 million oz, with 2 gpt surface and 5 gpt underground. They do not have any debt and $17 million in...  more
07/06/2015
Analysis  
Added: Red 5 Ltd.
Red 5 LTD is small gold producer in the Philippines. They are currently optimizing the open pit and planning to mine underground. The Siana project is 1.3 million oz, with 2 gpt surface and 5 gpt underground. They do not have any debt and $12 million in...  more
07/06/2015
Analysis  
Added: Prodigy Gold
ABM Resources has 10 million acres in Australia. They are the number one land holder in Australia. With that much land they were bound to find something good. Their Old Pirate and Twin Bonanza properties hold extremely high grade surface mine. They have...  more
07/05/2015
Analysis  
Added: Golden Rim Resources Ltd.
Golden Rim Resources has two early exploration projects in Burkina Faso. Both are promising and they have been able to raise cash for drilling. Korongou has a 10 mile strike length to explore. Balogo is high grade at surface and they want to bring it to...  more
07/05/2015
Analysis  
Added: Golden Rim Resources Ltd.
Golden Rim Resources has an exploration project in Burkina Faso. Korongou has a 10 mile strike length to explore. It looks promising, but there is extreme risk because they are still in early exploration without a mine. They also had the Balogo project,...  more
07/05/2015
Analysis  
Added: DELETE - Primary Gold Ltd
Primary Gold has a 1.4 million oz project (Mt Bundy) in Australia and a tiny market cap of $4 million. It is broken into several small open pit projects. They want to begin production on the high grade Toms Gully, which has 9 gpt. The capex is $25...  more
07/05/2015
Analysis  
Added: Doray Minerals Ltd.
Doray Minerals is mid-tier gold producer in Australia. Their Andy Well mine is high grade and low cost, and is producing 90,000 oz at $900 all-in costs. Their Deflector mine is under construction and will begin producing in 2016 at 70,000 oz. It is also...  more
07/05/2015
Analysis  
Added: Orion Minerals NL
Orion Gold has three large properties (1+ million acres) in Australia. They are all early exploration, but have some potential. They think that Connors Arc could be a large epithermal system. Initial drill results in 2014 were promising. Fraser Range is...  more
07/05/2015
Analysis  
Added: Spitfire Materials Ltd
Excelsior Gold has an exciting project in Australia. Kalgoorlie North has 13 open pit deposits with 1.3 million oz at 1.8 gpt. They released a pre-feasibility study in 2014 and are trying to get into production. The capex is $55 million, but it doesn't...  more
07/05/2015
Analysis  
Added: Centennial Mining Ltd
A1 Consolidated is attempting to become a gold miner in Australia. They have 3 past producing mines that they are developing. If gold prices take off, they could be in a good position for exploration and growth. They have 330,000 oz of high grade gold,...  more
07/04/2015
Analysis  
Added: Goldplat Plc
Goldplat PLC provides gold recovery in South Africa and Ghana. This is mostly done on old milling equipment, but they also do some toll milling from tailings and artisan mining. This business gives them cash flow to develop their Kilimapesa gold project...  more
07/04/2015
Analysis  
Added: Ariana Resources Plc
Ariana Resources is a near-term gold producer in Turkey. The have a 50% ownership of the Red Rabbit project. The $31 million capex is funded, and the project has a PFS and is permitted. Cash costs are only $600 and the IRR is 38%. Construction will begin...  more
07/04/2015
Analysis  
Added: Galantas Gold Corp
Galantas Gold is developing a small underground mine in Ireland. It will have a low capex because they already have a mill. The Omagh deposit is 400,000 oz at 6 gpt. They will need to expand the resource size, otherwise it will have short mine life. With...  more
07/04/2015
Analysis  
Added: Xtract Resources Plc
Xtract Resources has one small operating gold mine (Chepica) in Chile and another (Fair Bride) under development in Mozambique. Both have resource constraints for a long life mine and will need exploration success to extend the mine life. Combined they...  more
07/04/2015
Analysis  
Added: Condor Gold Plc
Condor Gold is advancing a 2.3 million oz project (La India) in Nicaragua. It has a feasibility study with a $110 million capex with cash cost at $700 per oz. That makes it a very economic project and their market cap is up to $54 million. They are...  more
07/04/2015
Analysis  
Added: Condor Gold Plc
Condor Gold is advancing a 2.3 million oz project (La India) in Nicaragua. It has a feasibility study with a $110 million capex with cash costs at $700 per oz. That makes it a very economic project and their market cap is up to $54 million. They are...  more
07/04/2015
Analysis  
Added: Helio Resource Corp
Helio Resources is trying to advance a small surface gold mine in Tanzania. They have a small FD market cap of only $5 million, but their SMP project (600,000 oz) has 2 gpt gold at surface. This is a classic high risk / high reward stock. If they make it...  more
07/04/2015
Analysis  
Added: Algold Resources Ltd
Algold Resources is a new company with 4 early exploration projects in West Africa (Burkina Faso and Mauritania). They have a good management team and were able to recently raise money, increasing their cash balance to $3 million. This will give them...  more
07/04/2015
Analysis  
Added: Chaart Gold Holdings Ltd
Chaarat Gold has a large 6 million oz project in the Kyrgyz Republic. They are currently working on the feasibility study. Surprisingly investors do not like the project. The FD market cap is only $45 million. It will have a large capex, but they can do...  more
07/04/2015
Analysis  
Added: Skeena Resources Ltd
Skeena Resources is trying to advance a high grade gold discovery in British Columbia. The Spectrum project is on 8,000 acres and has a 250,000 historic deposit at 12 gpt. Drill results in 2014 were exciting: 6 meters at 24 gpt, 27 meters at 10 gpt....  more
07/03/2015
Analysis  
Added: Avocet Mining Plc
Avocet Mining is a mid-tier producer in West Africa (Burkina Faso). They have high cost issues and debt issues. The stock has crashed and has extreme risk. I'm a bit surprised they are still in production (80,000 oz) and that their FD market cap is as...  more
07/03/2015
Analysis  
Added: Millennium Minerals Ltd.
Millennium Minerals is an emerging mid-tier producer in Australia. It has extreme risk because of a poor balance sheet with $23 million in debt. However, they are 75,000 oz producer and are profitable. With their leverage to higher gold prices, they...  more
07/03/2015
Analysis  
Added: Pan African Resources Plc
Pan African Resources is a mid-tier gold producer in South Africa. They have large resources at 30 million oz (3.5 gpt) and are producing 215,000 oz at a small profit. They have been paying a high dividend at 6%, but they don't have a great balance sheet...  more
07/03/2015
Analysis  
Added: Pan African Resources Plc
Pan African Resources is a mid-tier gold producer in South Africa. They have large resources at 30 million oz (3.5 gpt) and are producing 215,000 oz at a small profit. They have been paying a high dividend at 6%, but they don't have a great balance sheet...  more
07/03/2015
Analysis  
Added: Dragon Mining Ltd.
Dragon Mining is a small gold producer in Sweden and Finland. They have 1 million oz's of gold and are producing 60,000 oz a year. They made a profit last year, and have $15 million in cash with no debt. Thus, I expect them to survive. Their all-in costs...  more
07/03/2015
Analysis  
Added: Gold Road Resources Ltd
Gold Road Resources has a large gold project (Gruyere) in Australia. It is already 5.5 million oz (1.3 gpt) with multiple targets to expand in size. Investors like it and have pushed up the valuation to $216 million. The pre-feasibility study is funded...  more
07/03/2015
Analysis  
Added: Independence Group NL
Independence Group is a mining producer in Australia. They get cash flow from gold, nickel, zinc, and copper. They have two producing base metals mines, and a JV (Tropicana), where they receive 30% of gold production. I have reduced their cash costs and...  more
07/03/2015
Analysis  
Added: Petropavlovsk Plc
Petropavlovsk PLC is a major gold producer in Russia. They have 23 million oz of gold resources and produce 700,000 oz. Cash costs are around $800 per oz. All of their mining is open pit and they have 4 producing properties. They have a poor balance...  more
07/03/2015
Analysis  
Added: Trans-siberian Gold Plc
Trans-Siberian Gold is a small producer in Russia. They only have a 800,000 resource (Asacha), but it is high grade with low cash costs ($600 per oz). They do have a lot of debt ($26 million), but as long as the spend their cash carefully ($8 million),...  more
07/02/2015
Analysis  
Added: Altius Minerals Corp.
Altius Minerals is a royalty company. They are primarily coal/electricity and potash (64% of revenus) and base metals, but recently purchased Callinan Royalties which has gold projects. Over time they will likely add more gold and silver properties. I'm...  more


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