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News from January 2017

01/29/2017
Analysis  
Updated: Star Gold Corp
Star Gold Corp has a small gold project in Nevada that could get built. It's only a 100,000 oz resource, but the all-in costs make it economic at $1200 gold. The capex is only $25 million and the after-tax IRR is 25% at $1300 gold. The problem is...  more
01/29/2017
Analysis  
Updated: Braveheart Resources Inc
Braveheart Resources is a new exploration company. Their Big Strike project (4 properties on 32,000 acres) in Southwest British Columbia. They began a bulk sample in 2014, but are out of cash. It has a tiny market cap under $1.5 million. If they can...  more
01/29/2017
Analysis  
Updated: 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. All-in costs are around $1200 per oz, so not a lot of cash flow. They have $16 million in net debt, which...  more
01/28/2017
Analysis  
Added: Osprey Gold Development Ltd
Osprey Gold (formerly Gonzaga Resources) has high grade gold project (Goldenville) in Nova Scotia. It is a 300,000 oz high grade (11 gpt) resource that should grow in size. They appear to be an project generator, so their valuation will be dependent on...  more
01/28/2017
Analysis  
Added: Capricorn Metals Ltd
Capricorn Metals (formerly Malagasy Minerals) is advancing an open pit gold mine (Karlawinda) in Western Australia. It is a very aggressive company. They think they can be in production in 2018. If they pull it off that would quite impressive. They just...  more
01/28/2017
Analysis  
Added: Capricorn Metals Ltd
Capricorn Metals (formerly Malagasy Minerals) is advancing an open pit gold mine (Karlawinda) in Western Australia. It is a very aggressive company. They think they can be in production in 2018. If they pull it off that would be quite impressive. They...  more
01/28/2017
Analysis  
Added: Thundelarra Ltd
Thundelarra is exploration company in Australia. They are mostly looking for base metals, but they have two early exploration gold projects (Red Dragon and Red Bore). Currently they do not have gold discovery, but they plan to do some drilling. I think...  more
01/27/2017
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 (San Roque), where they have a 51% interest....  more
01/27/2017
Analysis  
Added: Tethyan Resources Plc
Tethyan Resources (formerly Aurasian Minerals) has two early exploration projects in Serbia. Suva Ruda is a copper/gold/lead/zinc discovery with very early exploration. They have a 8 year option to pay $6 million for 100% (payable at anytime before the 8...  more
01/26/2017
Analysis  
Updated: Goldrich Mining Co
Goldrich Mining is a small producer in Alaska (only 5,000 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
01/26/2017
Analysis  
Updated: DELETE - Sutter Gold Mining Inc
Sutter Gold Mining has an advanced project in California. They own a 3.6 mile trend in Northern California where 8 historic mines produced 3.5 million oz. They have a 300,000 oz resource (10 to 15 gpt) and planned to begin producing 23,000 oz in 2015....  more
01/25/2017
Analysis  
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
01/25/2017
Analysis  
Added: Enforcer Gold Corp
Natan Resources recently obtained a large (17,000 acres) early exploration project (Montalembert) in Quebec. There has been very little drilling. However, they have the cash ($3 million) and plan to drill in 2017. The property has been explored off and...  more
01/24/2017
Analysis  
Updated: Candente Gold Corp Com NPV
Candente Gold is a small exploration company with a tiny FD market cap of $2 million. The El Oro property has a lot of potential. Only two veins on the property were mined to 200 meters and produced 6.4 million oz (8-10 gpt) of gold and 75 million oz (4-6  more
01/24/2017
Analysis  
Added: Bitterroot Resources Ltd
Bitterroot Resources is mostly a base metal exploration company with 225,000 acres in Michigan. However, they recently obtained a high grade silver project in Arizona (North Hackberry). It is a past producing silver mine. Plus, they have an early...  more
01/22/2017
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 2017, but I have my doubts they can complete permitting and...  more
01/21/2017
Analysis  
Updated: Kula Gold Ltd
Kula Gold is a project generator in Papau New Guinea. They have 20% ownership in a 2 million oz (1.5 gpt) deposit (Woodlark Island) that is permitted with a completed feasibility study. They have a JV deal with Geopacific Resources. The 16% IRR was...  more
01/21/2017
Analysis  
Updated: Dacian Gold Ltd
Dacian Gold is a near-term producer in Australia. They have a large gold project (Mt Morgan) in Western Australia. It has two open pits deposits (Jupiter & Heffernans) with 1.5 million oz (1.5 gpt). And an underground deposit (Westralia) with 1.8 million...  more
01/20/2017
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 2017 with cash costs around $750 per oz and all-in costs around $1100 per oz. They have $25 million in debt and $33 million...  more
01/20/2017
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 $120 million capex with cash costs at $750 per oz. The starter open pit is 1.1 million oz at 3 gpt. The high grade makes it an economic project....  more
01/19/2017
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 recently completed a final feasibility study to produce 90,000 oz per year. The problem...  more
01/18/2017
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 (71% ownership). They plan to...  more
01/18/2017
Analysis  
Updated: Tembo Gold Corp
Tembo Gold is a new company with a project (25,000 acre Tembo property) in Tanzania. They have just began drilling (192 holes) a known area with good grade surface mineralization. There are 6 operating mines in the area, including a 20 million oz deposit...  more
01/17/2017
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 lower than expected grade. They expected 5+ gpt and only mined 2.5 gpt. After re-calculating the...  more
01/16/2017
Analysis  
Updated: Gold Standard Ventures Corp
Gold Standard Ventures is a project generator focusing on Nevada. In 2010, they began drilling their 100% owned Railroad project (27,000 acres) in Nevada on the Carlin Trend. Initial drill results have been very good (they have 4 discoveries and 2...  more
01/16/2017
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 (2 million oz at .8 gpt), Tanlouka, Badnogo,...  more
01/15/2017
Analysis  
Updated: Dynacor Gold Mines Inc.
Dynacor Gold Mines uses a unique business model. They use cash flow from a mill (about $20 million expected in 2017) to finance exploration. They have three early exploration properties in Peru that they are just beginning to drill. It will take a few...  more
01/15/2017
Analysis  
Updated: Viscount Mining Corp
Viscount Mining is a new project generator. They have a 25% JV on their 9000 acre 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
01/14/2017
Analysis  
Updated: Sierra Metals Inc
Sierra Metals is a silver and copper producer in Mexico. 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
01/14/2017
Analysis  
Updated: Heatherdale Resources Ltd
Heatherdale Resources has a late stage gold project (Niblack) in Alaska. They are trying to get financing to become a producer. The Niblack project is progressing with a gold equivalent resource size of approximately 500,000 oz (my estimate). With...  more
01/14/2017
Analysis  
Added: GT Gold Corp
GT Gold has an early exploration project (Tatogga) in the Golden Triangle. It is now drill ready and will get its first drilling in 2017. The property is on 75,000 acres and has several exploration areas. They also one other property (New Nanik) in...  more
01/13/2017
Analysis  
Updated: Nexus Gold Corp
Nexus Gold recently obtained two gold properties in West Africa (Burkina Faso). Both are early exploration with very little drilling. Bouboulou (9,400 acres) is a gold discovery with a drill holes of 40 meters at 1.5 gpt and 35 meters at 2.2 gpt....  more
01/12/2017
Analysis  
Updated: Antioquia Gold Inc
Antioquia Gold recently financed their first mine in Colombia. They received a $15 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 Q2 2017 to...  more
01/12/2017
Analysis  
Added: WPC Resources Inc
WPC Resources is trying to become a gold producer in Canada. They have 3 projects in the Northwest Territory. They recently obtained the Lupin Mine for $3 million (some of which is still owed), which produced 3.3 million oz (9 gpt) from 1982 to 2004. It...  more
01/11/2017
Analysis  
Updated: 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 50 million oz underground mine. They are going to start with the high grade (500 gpt) and mine 500...  more
01/11/2017
Analysis  
Added: Canada Cobalt Works Inc
Castle Silver Resources has a past producing silver mine (Castle Silver). It produced 20 million oz of silver at 25 opt. They have one huge drill hole to follow up on: 3 meters at 6,000 gpt (188 opt). They plan to do some drilling in 2017, but are low on...  more
01/10/2017
Analysis  
Updated: Wesdome Gold Mines Ltd
Wesdome Gold Mines is an emerging mid-tier producer in Canadian with a FD market cap of $248 million. They recently stumbled a bit, with production decreasing in 2010 from 96,000 ounces to 60,000 in 2016. However, they have a decent pipeline going...  more
01/10/2017
Analysis  
Updated: Savary Gold Corp
Savary Gold is an exploration company in West Africa (Burkina Faso). They own 69% of the Karankasso property, which is quickly turning into a large deposit. They already have 700,000 oz at 2 gpt, plus they have 15 miles of mineralization to explore. They...  more
01/09/2017
Analysis  
Updated: Teuton Resources Corp.
Teuton Resources is a project generator in Canada (British Columbia). They have been around for a long time (1982) and have 25 projects (about 6 JVs). However, they do not have any advanced stage projects. Investors seem to like it and have bid up their...  more
01/09/2017
Interview  
Interview on CrushTheStreet.com
Interview on CrushTheStreet.com 1/9/2017  more
01/08/2017
Analysis  
Updated: Teranga Gold Corp
Teranga Gold is a mid-tier producer in Senegal. Their production should increase over of the next few years from 200,000 oz in 2017 to perhaps 300,000 oz in 2019. They get about 80% of the profits at Sabodala. Cash costs are projected to be around $700...  more
01/07/2017
Analysis  
Updated: Detour Gold Corp.
Detour Gold is a solid company. They have a 20 million oz deposit (1 gpt) in Ontario, Canada. Production began in 2013 and ramped up to 525,000 oz in 2016, and forecast at 650,000 oz by 2018. All-in costs are around $1100 per oz. Thus, they will be able...  more
01/07/2017
Analysis  
Updated: Mcewen Mining Inc
McEwen Mining is a mid-tier gold and silver producer. In 2017, they will produce 100,000 oz of gold and 3 million oz of silver and (150,000 oz of gold equivalent). By 2018, they should be producing somewhere around 170,000 oz gold equivalent (including...  more
01/07/2017
Analysis  
Updated: Pretium Resources Inc
Pretium Resources (a new company that purchased their properties from Silver Standard) has a lot of upside potential. The have 60 million oz of gold and 250 million oz of silver at their Brucejack and Snowfield properties in Canada, although most of...  more
01/06/2017
Analysis  
Updated: Coeur Mining Inc
Coeur Mining has underperformed since 2006. They have to reach $70 per share just to get back to where the share price traded in 2006. However, they have been aggressive, purchasing Orko Silver, Paramount Gold, and a mine from Gold Corp. In 2018, they...  more
01/06/2017
Analysis  
Updated: Red Eagle Mining Corp
Red Eagle Mining is a new gold producer in Colombia. I have been very impressed watching their progress the past four years. They began drilling in 2011 and quickly released a 43-101 resource estimate, PEA, and a feasibility study. Their Santa Rosa...  more
01/05/2017
Analysis  
Updated: Santacruz Silver Mining Ltd
Santacruz Silver Mining is a small silver producer in Mexico. Their last financial report was weak, with cash costs around $11 per oz. However, they recently restructured their silver loan which will lower their costs and perhaps make them profitable in...  more
01/05/2017
Analysis  
Updated: Strategic Metals Ltd
Strategic Metals is a project generator in the Yukon. Their stock price rose 500% in 2010, and peaked at $4.34 per share in 2011, but has since crashed (along with many gold and silver mining stocks). At today's 41 cent price ($38 million fully diluted),...  more
01/05/2017
Analysis  
Updated: Altamira Gold Corp.
Equitas Resources is trying to become a small gold producer in Brazil. They have a 500,000 (.8 gpt) deposit (Cajuiero) and were hoping to ramp up production to 30,000 oz annually. However, they lost their financing and the stock crashed. Then they did a...  more
01/05/2017
Analysis  
Updated: Altamira Gold Corp.
Equitas Resources is trying to become a small gold producer in Brazil. They have a 500,000 (.8 gpt) deposit (Cajuiero) and were hoping to ramp up production to 30,000 oz annually. However, they lost their financing and the stock crashed. Then they did a...  more
01/04/2017
Analysis  
Updated: Silver Lake Resources Ltd..
Silver Lake Resources is a mid-tier gold producer in Australia. They have a solid flagship property (Mount Monger) with 3.7 million oz, and all-in costs under $1100 per oz. Plus, several exploration and development projects. Production is projected to be...  more
01/04/2017
Analysis  
Updated: Falco Resources Ltd
Falco Resources has a large gold project in Quebec on 175,000 acres. The Horne mine is a 4.5 million oz deposit at 2.6 gpt, with significant amounts of silver (25 million oz), copper (260 million lbs) and zinc (1.2 billion lbs) for offsets. Management...  more
01/03/2017
Analysis  
Updated: K92 Mining Inc
K92 Mining is a small producer in Papua New Guinea. They purchased a past producing mine (2006 to 2009) from Barrick Gold for $2 million, plus $60 million in future payments. The Kainantu mine has about 1.5 million oz at 7 gpt) with extensive exploration...  more
01/03/2017
Analysis  
Added: White Gold Corp.
White Gold (formerly G4G Capital) has 21 early exploration projects in the Yukon. They have a lot of land (600,000 acres), but no advanced projects. If the Yukon becomes a big mining district, then White Gold could do well. Their stock has exploded from...  more
01/03/2017
Analysis  
Added: White Gold Corp.
White Gold Corp. (formerly G4G Capital) has 21 early exploration projects in the Yukon. They have a lot of land (600,000 acres), but no advanced projects. If the Yukon becomes a big mining district, then White Gold could do well. They plan to spend $12...  more
01/02/2017
Analysis  
Added: Ivanhoe Mines Ltd
Ivanhoe Mines has huge projects. They are not really a gold or silver miner, however their Platreef PGM project in South Africa has 7 million oz of gold. Incredibly, that is only 7% of scheduled production. 90% of production (1.1 million oz a year) are...  more
01/01/2017
General  
December 2016 Newsletter Posted
The December 2016 newsletter has just been posted.  more


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