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News from December 2016
Updated: Silver Bear Resources Plc
Silver Bear Resources has a large (125,000 acres) late stage project in Russia. Their Mangazeisky project is a 68 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
Added: Irving Resources Inc
Irving Resources is a new company that we recently formed to explore Japan. They have 33,000 acres on Hokkaido island. Investors like their chances, bidding up the FD market cap to $42 million. It seems pricey to me. They haven't even started drilling... more
Updated: Resource Capital Gold Corp
Resource Capital Gold (formerly Reliance Resources) has 3 gold projects in Nova Scotia with 650,000 oz of high grade gold. They plan to begin producing 20,000 oz per year (at Dufferin) with low cash costs and a capex of only $7 million. With the cash... more
Added: GFG Resources Inc
GFG Resources has a large gold project (Rattlesnake Hills) in Wyoming. There has been 78,000 meters drilled by previous owners and is a 1+ million oz resource. Most of the grade has been low at surface, but there have been several high grade drill holes.... more
Added: Strikepoint Gold Inc
Strikepoint Gold has two early exploration projects in Ontario, Canada. Black Raven (15,000 acres) is a potential high grade discovery, but the veins are very narrow. Lobstick (3,000 acres) is still early exploration. They do have cash for drilling, but... more
Added: American Cumo Mining Corp
American Cumo Mining has a large copper/moly project (CuMo) in Idaho with 2 billion lbs of moly and 1.5 billion lbs of copper. It also has 150 million oz of silver. That silver might be worthless depending on the metalurgy. Howewer, they also have a gold... more
Added: Northisle Copper & Gold Inc
Northisle Copper and Gold has a large copper/gold project in Canada. The location is excellent, near an existing mine in British Columbia. However, investors do not like it (although it is up big in the past year), giving it a FD market cap of only $11... more
Added: Northisle Copper & Gold Inc
Northisle Copper and Gold has a large copper/gold project in Canada. The location is excellent, near an existing mine in British Columbia. Investors do not like it, giving it a FD market cap of only $11 million (although it is up big in the past year).... more
Added: Satori Resources Inc
Satori Resources has a small high grade gold project (Tartan) in Canada. It is a 300,000 oz resource on a past producing mine. They do not give guidance on how much money is required to resume production. It is a 500 tpd mine with excellent... more
Added: ECR Minerals Plc
ECR Minerals has two early exploration gold projects in Australia that look interesting. They are located in the Victoria district that has produced 80 million oz of high grade gold. Both Avoca (100,000 acres) and Bailieston (25,000 acres) have... more
Added: Playfair Mining Ltd
Playfair Mining has a high grade gold discovery (Ox Mountain) in Ireland. They have an option to obtain 100% by funding exploration. It is still early exploration, but they optimistically think it could be similar to the Dalradian Resources discovery.... 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 (within 6 months). It is scheduled for a short mine life of only 6 years, but I would expect it to have a bit longer life (70,000... 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: Kingsgate Consolidated Ltd.
Kingsgate Consolidated has fallen on hard times. They had a solid 4 million oz mine (Chatree) in Thailand with $750 per oz cash cost. It was shut-down due to environmental issues and it looks dire. They may get some reparations, but probably not. It... more
Updated: Rizal Resources Corp
Rizal Resources (formerly 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... 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 $9 per oz, and they could find more gold. This... more
Updated: Seabridge Gold Inc.
Seabridge Gold is the largest Project Generator by Market Cap. They have two giant projects, but both are not currently economic to build. They are currently de-risking them with permitting and feasibility studies. The stock reached $37 per share in 2007... more
Updated: Timberline Resources Corp
Timberline Resources is advancing their Talapoosa project (15,000 acres) in Nevada. It is a 1.2 million oz (1.1 gpt) resource with a PEA. It is economic with low cash costs ($500 cash costs per oz) and a capex of $50 million to produce 50,000 oz per year. more
Updated: Almadex Minerals Ltd.
Almadex Minerals was spun off by Almaden Minerals in 2015. Almaden Minerals decided to develop their flagship project (Ixtaca) in Mexico. Almadex was left with 20 exploration properties and 20 NSRs. That's a pretty good portfolio of projects. They have... more
Updated: Kirkland Lake Gold Ltd
Kirkland Lake Gold is a mid-tier producer in Canada. They have a large property (Macassa mine) in Ontario on 13,000 acres. It is a 5 million oz resource (16 gpt) that will produce 150,000 oz in 2016 and 200,000 oz around 2018. In 2015, they purchased St... more
Updated: Semafo Inc.
Semafo Inc. is a mid-tier producer in West Africa with a FD market cap of $954 million. They will produce 250,000 oz in 2015 with cash costs around $600. They have $282 million in cash and $60 million in debt, with excellent free cash flow. They have 1... 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: Telson Mining
Telson Resources has a late stage gold and silver project in Mexico (Tahuehueto on 18,000 acres). The capex is $32 million and cash costs are low from offsets in silver (13 million oz), copper (70 million lbs), zinc (500 million lbs), and lead (300... more
Updated: Rio2 Ltd
Atacama Pacific Gold has a large gold project (Cerro Maricunga) in Chile. It is a 4 million oz, low grade (.4 gpt) oxide surface mine. They released a PFS in 2014 to mine 250,000 oz per year. The cash costs are projected to be around $700 per oz, making... more
Updated: Minco Silver Corp.
Minco Silver is highly undervalued. Especially for a company that is close to building their first mine (construction should begin in 2017 or 2018). They have a large high grade deposit (150 million oz and growing) that is an anomaly. It is high grade at... more
Updated: Buenaventura Mining
Buenaventura Mining is a major with production of 650,000 oz of gold, 24 million oz of silver, and significant copper and zinc (30% of revenue comes from base metals). They have a pipeline of 7 projects and 20 million oz of gold resources that will... more
Updated: Goldcorp Inc.
GoldCorp is growing and plans to increase gold production from 3 million oz in 2016, to 4 million oz by 2018. 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
Updated: Barrick Gold Corp
Barrick Gold is a monster company with 200 million ounces of gold and projections to increase production steadily from 5 million ounces to 7 million (excluding copper, which is projected to reach 1 billion lbs) over the next 4 years. They will spend more... more
Updated: IAMGOLD Corp
IAMGOLD is a global mid-tier producer, with production at 800,000 oz. They have 4 operating mines in Suriname (northern South America), Canada (Quebec), Mali, and Burkina Faso. They are currently building a large gold mine in Ontario (Cote with 7 million... more
Updated: Endeavour Silver Corp
Endeavour Silver is an elite stock in the silver production category. They have everything working. They have 3 high grade silver mines in Mexico, with planned production of 9 million oz (silver equivalent including gold) in 2016. They are expanding... more
Updated: Avino Silver & Gold Mines Ltd
Avino Silver & Gold is an emerging mid-tier silver producer in Mexico. They will produce 2.5 million oz of silver equivalent in 2016 with all-in costs around $14 per oz (free cash flow). And they think they can increase production to 4 million oz and... more
Updated: Avino Silver & Gold Mines Ltd
Avino Silver & Gold is an emerging mid-tier silver producer in Mexico. They will produce 2.5 million oz of silver equivalent in 2016 with all-in costs around $14 per oz (free cash flow). And they think they can increase production to 4 million oz (silver... more
Updated: DELETE - Dalradian Resources Inc
Dalradian Resources has an excellent project in Ireland called Curraghinalt. It is a late stage project that they are currently permitting. It has 3.5 million ounces (9 gpt) and they are still drilling aggressively on 200,000 acres with 19 targets. The... more
Added: Lionsgold Ltd
Kolar Gold is trying to advance a high grade gold discovery in Finland. It is still early exploration and will take a couple of year of drilling do know what they have. They also own 22% of an Indian gold mining company that is building a small mine in... more
Updated: Comstock Mining Inc
Comstock Mining is a small gold producer in Nevada. They 3 million oz of gold equivalent (including silver) and started production in 2012. They have a large 8,000 acre property with significant exploration potential. I expect production to reach at... 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). The deposit is all near surface oxides, which are low cost to mine. Production is scheduled for Q1 2018, with a target of 200,000 more
Added: Conroy Gold & Natural Resources Plc
Conroy Gold has an open pit project (Clay Lake - Clontibret) in Ireland that appears to be expanding in size. The initial resource size is 600,000 oz at 1.6 gpt. They have only drilled 10,000 meters and think it could be 2 to 4 million oz. That's a large... 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: Midas Gold Corp
Midas Gold has a very large gold project in Idaho that is heading to production around 2022. Stibnite is a 6.4 million oz resource (1.6 gpt) that is growing in size, and has significant exploration potential. They have a FD market cap of $241 million,... more
Updated: Americas Silver Corp.
Americas Silver Corp (formerly Scorpio Mining) is a mid-tier silver producer in Mexico and Idaho. They merged with U.S. Silver & Gold in 2014, who had the 54 million oz Galena high grade silver mine. They currently produce around 2.5 million oz of silver... more
Updated: Acacia Mining Plc
Acacia Mining (formerly African Barrick Gold) is a mid-tier producer with 750,000 oz of production in East Africa (Tanzania). They have 4 producing mines with 29 million oz (4 gpt) of gold resources. Their all-in costs are around $1000 per oz, and they... more
Updated: Taku Gold Corp
Taku Gold is a project generator with a large land package of 5 properties (75,000 acres) in the Yukon. They also have the Tag Gold project (6,000 acres) in British Columbia, where they drilled 69 holes in 2006 through 2008 and found mineralization in 67... more
Updated: Orion Minerals
Orion Gold is trying to advance a zinc, copper, gold project in South Africa (Areachap). It is a past producing mine and needs a feasibility study to resume production. They also need about $5 million to pay for the 73% option on the property. Even if... more
Updated: Garibaldi Resources Corp.
Garibaldi Resources is a new company with a large land package (800,000 acres) in Mexico (Sierra Madre). They have 9 projects on 3 properties (Iris, La Patilla, and Tonichi) and dozens of potential drilling targets. They have used hyper spectral aerial... more
November 2016 Newsletter Posted
The November 2016 newsletter has just been posted. more