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News from January 2016

01/30/2016
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
01/30/2016
Analysis  
Updated: Macphersons Resources Ltd
MacPhersons Resources has two gold projects (Boorara and Coolgardie) and a silver project (Nimbus) next to each other in western Australia (50,000 acres). The are targeting production in 2016, but I have my doubts they can complete permitting and...  more
01/29/2016
Analysis  
Updated: Kula Gold Ltd
Kula Gold is highly undervalued. They have a 2 million oz (1.5 gpt) deposit on Papau New Guinea that is permitted with a completed feasibility study, and no debt. Yet, their market cap in only $10 million. Future reserves are valued at $5 per oz and...  more
01/28/2016
Analysis  
Updated: Hochschild Mining Plc
Hochschild Mining is a large silver producer in South America. They will produce 28 million of silver equivalent in 2016. The stock has crashed since 2011 (trading at $10) because they do not have low cash costs (although they have lowered them to about $  more
01/27/2016
Analysis  
Updated: Goldsource Mines Inc
GoldSource Mining is near-term producer in Guyana. They have a small project, starting with only 8,000 oz of production. The capex was only $6 million. Thus, they are starting small and then plan to increase production organically to at least 35,000 oz....  more
01/26/2016
Analysis  
Updated: Euromax Resources Ltd
Euromax Resources has significant upside potential. The Ilovitza project in Macedonia has 2.5 million oz (at a low grade of only .33 gpt). It has a feasibility for 83,000 oz of annual production at $250 cash costs (using copper offsets), plus a large...  more
01/25/2016
Analysis  
Updated: 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 1.8 million oz (5.8 gpt). They want to build both at...  more
01/24/2016
Analysis  
Updated: 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 $18 million. They are currently...  more
01/24/2016
Analysis  
Updated: 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. The starter open pit is 1.1 million oz at 3 gpt. The high grade makes it a very economic...  more
01/24/2016
Analysis  
Updated: Crusader Resources Ltd.
Crusader Resources is an iron ore producer in Brazil. They had $5 million in cash flow in 2014, but lost money in 2015. That are trying to develop two gold projects in Brazil. Borborema is a 2.5 million oz deposit at 1.1 gpt. Their second project is...  more
01/23/2016
Analysis  
Updated: Beadell Resources Ltd
Beadell Resources is an Australian based mid-tier producer with a large mine (Tucano) in Brazil. They will produce 160,000 oz in 2016 with cash costs around $850 per oz. With those costs they could lose money in 2016. They have $82 million in debt and...  more
01/23/2016
Analysis  
Updated: Canarc Resource Corp.
Canarc Resources has an advanced project in Alaska that looks promising. Their New Polaris project is a 1.1 million oz resource, averaging 11 gpt. They have a PEA for 72,000 oz of production for 10 years with low cash costs around $500. The IRR is 38%...  more
01/22/2016
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
01/22/2016
Analysis  
Updated: 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
01/21/2016
Analysis  
Updated: Gran Colombia Gold Corp
Gran Colombia Gold has huge upside potential, but also huge risk. They have large resources (12 million M&I gold) and are targeting 400,000 oz of production long term. And their FD market cap is only $6 million. Future reserves are valued at .50 cents...  more
01/20/2016
Analysis  
Updated: Kilo Goldmines Ltd
Kilo Goldmines is project generator focused in Africa. They appear to have a lot of gold on their properties (150,000 acres). They have already defined 1.7 million ounces (2.5 gpt) at their shallow open pit Imbo project (JV with Randgold). Plus they have...  more
01/17/2016
Analysis  
Updated: Moneta Porcupine Mines Inc.
Moneta Porcupine has an excellent project in Ontario, Canada. The Golden Hwy property is a 4.3 million oz resource (1 gpt with a 90% recovery rate). They recently released a PEA for 25,000 tpd at 288,000 oz annual production. The capex was high at $600...  more
01/17/2016
Analysis  
Updated: Spanish Mountain Gold Ltd
Spanish Mountain is highly undervalued. They are forecasting 200,000 ounces of production at their Canadian mine and they have a fully diluted market cap of $5 million. Their future reserves are valued at $1 per oz. Even if they give away half of the...  more
01/17/2016
Analysis  
Updated: Tembo Gold Corp
Tembo Gold is a new company with a large project (25,000 acre Tembo property) in Tanzania. They have just began drilling (192 holes) a known area with high grade surface mineralization. There are 6 operating mines in the area, including a 20 million oz...  more
01/16/2016
Analysis  
Updated: Franco Nevada Corp
Franco Nevada is a royalty company, and a very good one. They're revenue growth is growing at fast rate. They have 46 producing projects with an expected free cash flow around $100 million in 2016. They have an excellent pipeline of 39 advanced stage...  more
01/16/2016
Analysis  
Updated: Sandstorm Gold Ltd
Sandstorm Gold is a relatively new royalty company. They are focusing on gold and currently have 16 producing assets (under contract). They have solid cash flow from these properties and are growing rapidly at about 20% per year (production oz). They now...  more
01/16/2016
Analysis  
Updated: Wheaton Precious Metals Corp
Silver Wheaton is a large silver royalty company. They have 22 producing silver royalty properties with a fixed cash cost of around $4.50, and 7 projects in development. They have 1.6 billion ounces in attributable resources and production of 44 million...  more
01/16/2016
Analysis  
Updated: Alio Gold Inc.
Timmins Gold is a young company that just began producing in 2010. They are aggressive with the drill bit (currently they have a 200,000 meter drill program) and have 500,000 acres to explore in Mexico on 10 properties. They are producing 120,000 oz at...  more
01/13/2016
Analysis  
Added: Metals Creek Resources Corp.
Metals Creek Resources is tiny exploration company. Their Ogden gold project in Ontario is still early exploration. Drill results have been very good. 12 meters at 210 gpt. 75 meters at 2.2 gpt. 21 meters at 6 gpt. It's too early to tell if they have a...  more
01/11/2016
Analysis  
Updated: Gold Standard Ventures Corp
Gold Standard Ventures is a project generator with projects in Nevada. In 2010, they began drilling their 100% owned Railroad project (25,000 acres) in Nevada on the Carlin Trend. Initial drill results have been very good (they have 4 discoveries and 1.8...  more
01/11/2016
Analysis  
Updated: Rubicon Minerals Corp.
Rubicon Minerals was a near-term producer in Ontario, Canada (150,000 oz). They completed construction in 2015, but had to suspend operations because of geology issues - lower than expected grade. They expected 5+ gpt and only mined 4 gpt. After re-calcul  more
01/10/2016
Analysis  
Updated: Inv Metals Inc
INV Metals has an advanced gold project. The problem is that their Loma Larga project is in Ecuador and investors are avoiding high risk locations. Ecuador recently passed a new medium size mine law that is reasonable, but investors still might stay away.  more
01/10/2016
Analysis  
Updated: West African Resources Ltd
West African Resources is undervalued with significant upside potential. They have more than 1 million contiguous acres in Burkina Faso. Plus, they have about six potential open pit mines with Mankarga (1.5 million oz at .8 gpt), Tanlouka, Badnogo,...  more
01/08/2016
Analysis  
Updated: Dynacor Gold Mines Inc.
Dynacor Gold Mines uses a unique business model. They use free cash flow from a mill (about $10 million expected in 2015) to finance exploration. They have five early exploration properties in Peru that they are just beginning to drill. It will take a...  more
01/08/2016
Analysis  
Updated: Viscount Mining Corp
Viscount Mining is a new project generator. They are exploring their 2700 acres Cherry Creek project in Nevada. It has 20 past producing mines (gold and silver) from the 1920s. The released some surface samples in 2015 from Flint Canyon and the stock...  more
01/07/2016
Analysis  
Updated: Sierra Metals Inc
Sierra Metals is undervalued at $137 million fully diluted. They have 10 properties on 500,000 acres in Chihauhau, Mexico, and another 4 properties in Peru. They have 3 operating mines and 5 more in late stage development. Their current resources are not...  more
01/07/2016
Analysis  
Updated: Heatherdale Resources Ltd
Heatherdale Resources is undervalued, but a long-term investment with substantial risk. They have a tiny FD market cap of $2 million and a late stage development project called Niblack in Alaska heading toward production if they can get financing. The...  more
01/07/2016
General  
Seeking Alpha Article: 20 Best Risk Reward High Return Gold and Silver Mining Stocks
http://seekingalpha.com/article/3791406-the-20-best-risk-reward-high-return-gold-and-silver-mining-stocks  more
01/06/2016
Analysis  
Updated: Antioquia Gold Inc
Antioquia Gold recently financed their first mine in Colombia. They received a $20 million loan to begin production on their 14,000 acre Cisneros property. They will produce 30,000 oz per year for at least 7 years. Production is scheduled for Q4 2016....  more
01/05/2016
Analysis  
Added: DELETE - Prophecy Development Corp
Prophecy Development (formerly Prophecy Coal) has two high grade silver projects in Bolivia. They purchased them from Apogee Silver in 2015. Pulacayo is a 60 million oz underground mine. They are going to start with the high grade and mine 500 tpd. This...  more
01/04/2016
Analysis  
Updated: Wesdome Gold Mines Ltd
Wesdome Gold Mines is a small producer in Canadian with a FD market cap of $111 million. They recently stumbled a bit, with production decreasing in 2010 from 96,000 ounces to 55,000 in 2015. However, they have a decent pipeline going forward. Their Moss...  more
01/03/2016
Analysis  
Updated: Silver Bear Resources Plc
Silver Bear Resources has a large (125,000 acres) late stage project in Russia. Their Mangazeisky project is a 55 million oz resource of extremely high grade silver. The first 5 years of production will be at 900 gpt (30 oz per ton). That was not a typo,...  more
01/02/2016
General  
December 2015 Newsletter Posted
The December 2015 newsletter has just been posted. If you're set to receive a notification via email, it will be arriving shortly.  more
01/01/2016
Analysis  
Updated: ValOro Resources
Geologix Exploration is highly undervalued, with a FD market cap of only $3 million. It is a potential 50+ bagger, although I would like this stock a lot better if their flagship Tepal project was not so dependent on copper demand. They claim that they...  more


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