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News from December 2015
Updated: Freegold Ventures Ltd
Freegold Ventures has a large gold project in Alaska. Golden Summit project (6.5 million oz at .6 gpt) is 20 miles from Fairbanks and 5 miles from a large Kinross surface mine. They are still drilling and have not given guidance for completing a PEA.... more
Updated: Banyan Gold Corp
Banyan Gold is an interesting stock. They have a FD market cap of only $700,000 and an advanced open pit project in the Yukon. The Hyland Gold project is a 350,000 oz (.9 gpt) resource with silver offsets. This could be a 50 bagger if they get into... more
Updated: Lupaka Gold Corp
Lupaka Gold has two nice projects in Peru. Their 600,000 oz underground Invicta project is supposed to begin production soon, although they are out of cash. It is scheduled for a short mine life of only 6 years, but I would expect it to have a bit longer... more
Updated: Gold Resource Corp.
GORO (Gold Resource Corp) was a great pick in early 2009 when it traded under $3. After they went into production, the stock rocketed to $30 a share in 2011. However, it has now come all the way back, trading at $1.19. This is also a cautionary tale.... more
Updated: Minnova Corp
Minnova Corp (formerly Auriga Gold) is a potential producer - if they can get financing. They need to source $20 million to begin production approximately 12 months later. Minnova wants to begin production on their Maverick property (5,000 acres) in... more
Updated: B2gold Corp.
B2Gold is an emerging major and a growth story. Production is scheduled to increase from 500,000 oz in 2015 to 600,000 oz in 2016 and then 800,000 oz by 2018. Increasing production should triple their stock price. They are undervalued today with a $1... more
Updated: Vista Gold Corp.
Vista Gold has a large project in Australia called Mt Todd (8 million oz at .8 gpt, but only 72% recovery rate) with huge upside potential. Their FD market cap is only $27 million, with future reserves valued at $4 per oz. One red flag is they might not... more
Updated: Kingsgate Consolidated Ltd.
Kingsgate Consolidated is a growing mid-tier producer and a possible 25+ bagger. Their market cap has crashed 98% since 2010 ($11), yet they are a profitable 125,000 oz producer. The reason for the crash is $86 million in debt and potential political... more
Updated: SSR Mining Inc
Silver Standard Resources (SSRI) has significant potential. They have 1 billion oz of silver resources and 6 million oz of gold. Plus, they have 1 million acres of exploration land. Production should steadily rise. Currently, the Pirquitas mine in... more
Updated: First Majestic Silver Corp
First Majestic Silver is one of the best silver producers. They have $50 million in cash and no debt. Their all-in costs for 2015 should be around $17, with cash costs about $10. Silver production of 12 million oz is expected in 2015. They are building... more
Updated: Gowest Gold Ltd
Gowest Gold is undervalued, with a FD market cap of $15 million. They only have one property (North Timmins), but it is large (25,000 acres) and has 17 targets. Plus, the Bradshaw deposit is a 1.2 million oz (4 gpt) resource that looks like a sure thing.... more
Updated: Lydian Intl. Ltd.
Lydian International has a solid property called Amulsar in Armenia. It is a 5 million oz resource (3 million M&I at .7 gpt). And it is all near surface oxides, which are low cost to mine. Production is forecasted for 2017, with a goal of 200,000 to 250,0 more
Updated: Riverside Resources Inc.
Riverside Resources has a low market cap ($4 million fully diluted) and seems to be progressing as a company. They have a focused approach using their project generator model. They currently have 3 JVs, and will likely add more. I listened to an... more
Updated: Newrange Gold Corp
Colombian Mines is a project generator with a lot of potential. They have 7 project areas covering approximately 225,000 acres, 3 of which look very promising. The Yarumalito project (30% JV) is still early exploration (16,000 meters drilling to date),... more
Updated: Granada Gold Mine Inc
Gold Bullion Development is highly undervalued with a FD market cap of only $9 million. The Granada property in Quebec, Canada is on 17,000 acres. It is a shallow surface mine (and a potential underground mine) with an estimated 3.5+ million oz resource.... more
Updated: Rizal Resources Corp
Cadan Resources is a near-term small producer in the Philippines (with higher gold prices). Their T-Boli project was in early production in 2014, but is currently on care and maintenance. They are hoping to resume production in 2016. The T Boli project... more
Updated: Seabridge Gold Inc.
Seabridge Gold is the largest Project Generator by Market Cap. They have four projects that are ready to begin mine development, but they can’t find any partners to build the mines. The stock reached $37 per share in 2007 because they have 85 million... more
Updated: African Gold Group Inc.
African Gold Group is a high risk / high return stock, with a late stage project in southern Mali. Koboda already is a 2 million resource at 1 gpt, and could get much bigger. Future reserves are selling at $6 per oz, and they could find more gold. This... more
Updated: Timberline Resources Corp
Timberline Resources is highly undervalued and a potential 50 bagger long term at its current value ($3 million FD market cap). They should have cash flow starting in 2016 or 2017 from their 50/50 Butte Highlands JV project. Annual production will be... more
Updated: Alacer Gold Corp
Alacer Gold was created in early 2011 from a merger of Avoca Resources (Australia) and Anatolia Minerals (Turkey). In 2013 Alacer sold their Australian properties. Now it is Turkey focused. Their flagship Copler project is a 9 million oz deposit (their... more
Updated: Agnico Eagle Mines Ltd
Agnico-Eagle Mines is a solid company with 20 million oz (2.5 gpt) of gold reserves and 47 million oz of gold resources. Growth will be steady, but nothing to get excited about. They could under-perform in the major category, because they are already... more
Updated: Amarillo Gold Corp
Amarillo Gold has two excellent projects in Brazil. The Mara Rosa project (1.3 million oz at 1.6 gpt) is economic (30% after-tax IRR at $1300 gold) with cash costs of only $550 per oz. They are working on the feasibility study and permitting, but are out... more
Added: Almadex Minerals Ltd.
Almadex Minerals was spun off by Almaden Minerals in 2015. Almaden Minerals decided to develop their flagship project. Almadex is left with 20 exploration properties and 20 NSRs. That's a pretty good portfolio of projects. If Almadex finds another mine,... more
Updated: Almaden Minerals Ltd.
Almaden Minerals has decided to build their flagship project in Mexico (Ixtaca). They are going to spin out their 40 exploration properties (Mexico, Canada, and Nevada), JVs and NSRs to their stockholders for free (60% of current shares). Ixtaca will... more
Updated: Dolly Varden Silver Corp
Dolly Varden Silver is a new company. They started trading and drilling in 2012. Their 22,000 acre Dolly Varden property in northern British Columbia has 4 past producing mines. These mines produced 20 million oz at 10 to 30 opt in the 1920s and 1950s.... more
Updated: Citigold Corp. Ltd.
Citigold has 50 bagger potential at higher gold prices. They have 11 million oz of gold at 14 gpt (10 million inferred). Plus, they think they could find 50 million oz on their flagship Tower Charter mine in Australia. This mine has already produced 6... more
Updated: Abcourt Mines Inc.
Abcourt Mines is a bit of an anomaly. I analyze a lot of stocks, and for some reason this company doesn't spend much on their website or marketing their company to investors. They have not released a company presentation in the past 5 years. If it wasn’ more
Updated: Argonaut Gold Inc
Argonaut Gold is a solid mid-tier producer. There is a lot to like about this company. Their production is forecasted to grow from 135,000 oz in 2015 to 400,000 by 2020. They have two producing mines in Mexico with all-in costs around $1100. They have... more
November 2015 Newsletter Posted
The November 2015 newsletter has just been posted. If you're set to receive a notification via email, it will be arriving shortly. more
Updated: Semafo Inc.
Semafo Inc. is a mid-tier producer in West Africa with a FD market cap of $1 billion. They will produce 250,000 oz in 2015 with cash costs around $700. They have $128 million in cash and no debt (although a $90 million credit line if the want to build a... more
Updated: Telson Mining
Telson Resources has a late stage gold and silver project in Mexico (Tahuehueto on 23,000 acres) that could generate about $400 million in cash flow (40,000 oz for 10 years). They have a FD market cap of $9 million, making this a potential 20 bagger at... more
Added: Silvercrest Metals Inc
Silvercrest Metals arose from the Silvercrest Mining and First Majestic merger. Four early exploration projects were spun out. They have $5 million in cash and will do some drilling in 2016. Unless they get lucky with the drill bit, this could be short... more