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News from June 2017

06/30/2017
Analysis  
Added: Antipa Minerals Ltd
Antipa Minerals is a project generator in Australia. They have three large (1 million acres) properties. The most advanced is Citadel, which a 25% JV with Rio Tinto. It has 1.2 million oz of gold and 300 million lbs of copper. They also have a gold...  more
06/30/2017
Analysis  
Added: Altiplano Metals
Altiplano Minerals is a Canadian based project generator. They have two 50% JV projects in Chile (Maria Luisa and Farallon). The odd thing is they only paid $2 million for these projects. So, the owner did not think they are very large. We do not know...  more
06/29/2017
Analysis  
Updated: Pantoro Ltd
Pantoro Ltd is a high grade gold producer in Australia. It has a FD market cap of $157 million and they are ramping up to 50,000 oz a year. They are currently losing money, but there is an expectation that they will lower their costs and expand...  more
06/29/2017
Analysis  
Added: Red Rock Resources Plc
Red Rock Resources is a mining and oil and gas exploration and development company. They have a lot of projects, but only a $7 million FD market cap. Clearly, management has not achieved their objectives. They have projects all over the world. From...  more
06/29/2017
General  
SeekingAlpha Article: How I Analyze Gold & Silver Mining Stocks.
https://seekingalpha.com/article/4084832-analyze-gold-silver-mining-stocks  more
06/28/2017
Analysis  
Updated: Eagle Plains Resources Ltd.
Eagle Plains Resources is a project generator in Western Canada that has been around since 1992. They have amassed 35 projects (19 have gold or silver) and have several JV deals. They would have more, but utilize a spin-out strategy once a project...  more
06/28/2017
Analysis  
Updated: Coronet Metals Inc
Coronet Metals has a small tailing project (White Caps) in Nevada. It is 30,000 oz and they have a mill. They are hoping to mine 6,000 oz per year for a very low capex. Then they want to use this cash flow for exploration at the mine site, which has a...  more
06/28/2017
Analysis  
Updated: Silver Mines Ltd.
Silver Mines Ltd is the largest pure silver miner in Australia. They recently purchased the Bowdens Silver project, which is the largest undeveloped silver project in Australia (134 million oz). It is relatively low grade (50 gpt) and will need $18 to $20  more
06/28/2017
Analysis  
Added: Para Resources Inc
Para Resources is a milling and mining company. They want to get solid cash flow using milling operations in Colombia, Nicaragua, and Peru. Then do exploration and production on their other projects. They expect to get $40 million in free cash flow by...  more
06/27/2017
Analysis  
Updated: Avrupa Minerals Ltd
Avrupa Minerals is a Canadian based Project Generator that is exploring in Europe. They have 12 projects, most of which are primarily base metals (Copper and Tungsten), and are focusing in Portugal and Kosovo. They have 3 JVs, one in Kosovo, Germany, and...  more
06/27/2017
Analysis  
Updated: Westkam Gold Corp
Westkam Gold is a project generator focused in Canada. They recently made a deal to sell their only property (Bonaparte in British Columbia) to MX Gold for 40 million shares (20% of MX Gold). The deal has not closed yet. They plan to acquire another...  more
06/26/2017
Analysis  
Updated: Cartier Resources Inc.
Cartier Resources is a project generator focusing in Quebec. They have 7 gold projects and are drilling, but have not yet found an advanced project or made any JV deals. None of their properties have a 43-101 resource estimate, and are either past...  more
06/26/2017
Analysis  
Updated: Terraco Gold Corp
Terraco Gold is a speculation stock, but it has upside potential. They have a 3% NSR on the 5 million oz Spring Valley project in Nevada. This will give them $7 million to $15 million in annual free cash flow (depending on the gold price), once the...  more
06/26/2017
Analysis  
Added: Frontline Gold Corp.
Frontline Gold is a project generator with projects in Turkey, West Africa, and Canada. Currently none of them are that exciting and their FD market cap is only $2 million. However, they do have five properties with potential. Their Poly and Stewart...  more
06/25/2017
Analysis  
Updated: Desert Mountain Energy Corp
African Queen Mines is a project generator, although they do have a permitted mine that could be restarted. They had several early exploration projects in Africa, but divested all of them. Now they are left with their Yellowjacket gold property in...  more
06/25/2017
Analysis  
Updated: Rambler Metals & Mining Plc
Rambler Metals and Mining is a copper and gold producer in Canada. They are producing 600 tpd and plan to increase production to 1250 tpd in 2017. Most of the production is copper. They have a single long life mine (Ming) that began production in 2012....  more
06/24/2017
Analysis  
Updated: Angkor Gold Corp
Angkor Gold Corp. is a project generator in Cambodia. Whereas most stocks have crashed since 2010, their stock price has held. They made a 2.5% to 7% slidng NSR deal on their Phum Syarung property and expect a royalty stream to begin in 2018. This will...  more
06/24/2017
Analysis  
Updated: Condor Resources Inc.
Condor Resources is a relatively new project generator. They have 10 properties and 4 JVs, all of which are early stage exploration (one is a copper JV with BHP). Currently they are drilling two projects, which they hope to JV. I like the locations where...  more
06/23/2017
Analysis  
Updated: Aurcana Corp
Aurcana Corp had a market cap of $545 million in 2011 and everything looked great. Then silver prices collapsed from 2011 to 2015. They lost their La Negra mine in 2015 (which was producing 3 million oz per year) to payoff their outstanding debt. Now all...  more
06/23/2017
Analysis  
Updated: Klondike Gold Corp.
Klondike Gold has three properties in the Yukon totaling 125,000 acres. There is gold on these properties and if gold prices explode in value, this company should do well. Currently they do not have any advanced projects and are not doing a lot of...  more
06/22/2017
Analysis  
Updated: Beaufield Resources Inc
Beaufield Resources has five gold properties in Quebec and Ontario, but all are early exploration. Tortigny on 75,000 acres, and the drill results have been good. It is a potential gold/silver/zinc/copper mine. At this time, I cannot guess at the...  more
06/22/2017
Analysis  
Updated: Regulus Resources Inc
Regulus Resources is a project generator with two large copper projects. Both are early exploration and they are currently drilling. They acquired Southern Legacy Minerals in 2014, which had a 3 billion lb copper project (Antakori) in Peru, with 3.4...  more
06/22/2017
Analysis  
Added: Oklo Resources Ltd
Oklo Resources is an Australian project generator focusing on Mali, West Africa. They have 6 properties on 350,000 acres. Their Dandoko property has a significant discovery (Seko and Diabarou deposits). The drill results have been very good, sending the...  more
06/21/2017
Analysis  
Updated: Probe Metals Inc
Probe Metals (recent merger with Adventure Gold) has a 770,000 oz deposit (2.6 gpt) in Ontario (Val d'Or East). It is half open pit and half underground. They also have 22 additional properties (150,000 acres) in Quebec and Ontario, which are all located...  more
06/21/2017
Analysis  
Added: ROTATION MINERALS LTD
Rotation Minerals is a project generator focusing on gold exploration in the Golden Triangle in British Columbia. They have 3 properties (Four J, Scottie, and Black Hills). Four J (5,000 acres) appears to be their focus, but has only had a few holes...  more
06/21/2017
Analysis  
Added: Metallis Resources Inc
Metallis Resources is a project generator with a large property (Kirkham) in the Golden Triangle in British Columbia. Kirkham (25,000 acres) has had very little drilling and has significant potential. They have identified 5 drill areas. They have a tiny...  more
06/19/2017
Analysis  
Updated: Defiance Silver Corp
Defiance Silver has a high grade discovery in Mexico. In 2011, then obtained a $5.5 million option to purchase the historic San Acacio mine in the Zacatecas Silver district ($4.6 million is due in 2018). They need to raise at least $10 million to drill...  more
06/19/2017
Analysis  
Updated: Solgold Plc
Solgold has a very large copper/gold project in Ecuador. It appears to have at least 5 million oz of gold at .5 to 1 gpt and more than 1 billion lbs of copper. The drill results have been stunning, with 1300 meter intercepts of .6 gpt gold and .7% copper.  more
06/19/2017
Analysis  
Updated: Solgold Plc
Solgold has a very large copper/gold project in Ecuador. It appears to have at least 5 million oz of gold at .5 to 1 gpt and 1 billion lbs of copper, but could be much bigger. The drill results have been stunning, with 1300 meter intercepts of .6 gpt...  more
06/19/2017
Interview  
Interview on Wealth Research Group
I have a new interview on Wealth Research Group. This is one of my better interviews.  more
06/18/2017
Analysis  
Updated: Continental Gold Inc
Continental Gold has excellent properties in Columbia. Their flagship Buritica project is high grade (10 gpt) and is a 9 million oz resource, with more drilling planned. This was a $10 stock in 2011 and today it is $2.65. They have $175 million in cash (a  more
06/18/2017
Analysis  
Updated: Rugby Mining Ltd
Rugby Mining is a new project generator. They recently obtained 5 gold properties (200,000 acres) in Colombia from Barrick Gold, including a database of Barrick's previous exploration work. The stock has jumped from 3 cents to 23 cents from this...  more
06/17/2017
Analysis  
Updated: Sarama Resources Ltd
Sarama Resources is a project generator in West Africa (Burkina Faso and Mali). They have one flagship project: South Hounde. It is optioned to Acacia Mining (a large gold producer), who has a 75% option. South Hounde is a 2 million oz deposit at 1.5 gpt.  more
06/16/2017
Analysis  
Updated: Metallic Minerals Corp
Metallic Minerals (previously Monster Mining) is a new project generator in Canada (Yukon). They have a potential silver discovery (Keno-Lightening) that is adjacent to Alexco's large high grade silver deposit. It's on 27,000 acres and they have...  more
06/16/2017
Analysis  
Added: Trifecta Gold Ltd
Trifecta Gold is an project generator focused in the Yukon. They were created in 2017 from a spinout of 4 properties by Strategic Metals who owns 10% of the company. All 4 of the properties are early exploration and have not been drilled. They have very...  more
06/16/2017
Analysis  
Added: Argentum Silver Corp
Argentum Silver has two early exploration projects in Mexico. Coyote (2,500 acres) and Victoria (7,500 acres) are both early exploration. Eric Sprott owns 50% of the shares and may fund drilling. There appears to be some past silver production on both...  more
06/15/2017
Analysis  
Updated: Millrock Resources Inc.
Millrock Resources is a project generator focused in North America and Mexico. They have 22 properties and 7 JVs. These numbers should increase over time. It's still cheap with a $23 million FD market cap because they do not have an advanced project....  more
06/15/2017
Analysis  
Added: Knick Exploration Inc
Knick Exploration is a project generator focused in Canada. They have a project (East West) on a small property (450 acres) in an excellent location in val'D Or, Quebec. It is near several gold mines in a mining district. It is a discovery with a recent...  more
06/15/2017
Analysis  
Added: Knick Exploration Inc
Knick Exploration is a project generator focused in Canada. They have a project (East West) on a small property (450 acres) in an excellent location in Val'D Or, Quebec. It is near several gold mines in a mining district. It is a discovery with a recent...  more
06/14/2017
Analysis  
Updated: Randgold Resources Ltd.
Randgold Resources is a major based in Africa. Most of the value is built into the stock price. While most stocks were crashing in 2015, Randgold was down only 24%. It doubled in value in 2016. Their future reserves are valued at $448 per oz, and are...  more
06/14/2017
Analysis  
Updated: Fresnillo Plc
Fresnillo is a major with a FD market cap of $15 billion and is the largest silver producer at 50 million oz per year. They plan to expand production to 65 million oz by 2018. This is a very profitable company with low cash costs. They have large...  more
06/14/2017
Analysis  
Added: Us Gold Corp
US Gold Corp (formerly Dataram Corp) has two early exploration projects in Nevada and Wyoming. The are excited the most about their Keystone project in Nevada (18,000 acres). They think it could have between 1 and 10 million oz. It has never been...  more
06/13/2017
Analysis  
Updated: New Gold Inc.
New Gold is an emerging major with growth prospects. 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 is worth a market cap of $1.9 billion. What will 700,000 oz of...  more
06/13/2017
Analysis  
Added: Koza Gold Corp
Koza Gold Corp is a large gold producer in Turkey. They have low cash costs and have been added to GDXJ. Plus, they have an excellent balance sheet with $340 million in cash and no debt. They have 4 operating mines, another one under development, plus 15...  more
06/12/2017
Analysis  
Updated: Rio2 Ltd
Atacama Pacific Gold has a large gold project (Cerro Maricunga) in Chile. It is a 5 million oz, low grade (.4 gpt) oxide surface mine (80% recovery rate). They released a PFS in 2014 to mine 250,000 oz per year. The cash costs are projected to be around $  more
06/12/2017
Analysis  
Updated: Strikepoint Gold Inc
Strikepoint Gold recently obtained 26 properties in the Yukon on 700,000 acres. All they had to pay was 10 million shares to IDM Mining. They are cashed up with $8 million in the bank and plan to drill aggressively in 2017 and 2018. All of their...  more
06/11/2017
Analysis  
Added: Glen Eagle Resources Inc
Glen Eagle Resources is a small gold producer in Honduras. They do not list their resources or give guidance for production in 2017. They recently obtained a property (La Cobra) in Honduras that has significant past production. They received the property...  more
06/10/2017
Analysis  
Updated: Batero Gold Corp
Batero Gold has a low grade open pit project in Columbia. They have a 3 million oz. resource (.6 gpt), but only 67% recovery rate. Surprisingly Batero Gold has a low valuation of $8 million fully diluted. The stock has crashed 98% from $3.80 per share in...  more
06/09/2017
Analysis  
Updated: Endeavour Mining Corp
Endeavor Mining a large gold producer in West Africa, with 5 operating mines in 4 countries. Their market cap has jumped to $1.6 billion, so they aren't cheap anymore. They are producing 600,000 oz with all-in costs around $1000 per oz. They have large...  more
06/08/2017
Analysis  
Updated: NorZinc Ltd.
Canadian Zinc looks like a slam dunk. They are heading towards production once they get financing ($192 million capex) and have a large high grade deposit (70 million oz at 4 opt). Production will start slow (1.7 million oz) and increase, but likely...  more
06/08/2017
Analysis  
Added: Bunker Hill Mining Corp
Liberty Silver just began trading in 2017. They purchased the Bunker Hill silver/zinc mine in Idaho for $30 million. The sales price is payable over 10 years. They plan to return it to production, which will take about 2 years. It is permitted. Resources...  more
06/08/2017
Analysis  
Updated: Silvercorp Metals Inc
Silvercorp is a mid-tier producer in China. They have large resources with 225 million oz at 200 gpt. Their cash costs for the last quarter were under $5 per oz. All-in costs were below $10 per oz (free cash flow). Thus, they are profitable at low silver...  more
06/08/2017
Analysis  
Added: Jaxon Mining Inc
Jaxon Minerals is a project generator focused on the Golden Triangle in British Columbia, Canada. They have two projects (Hazelton and Wishbone) that are ready for drilling. Hazelton is more advanced and on 70,000 acres. It will get some drilling first....  more
06/07/2017
Analysis  
Updated: Almaden Minerals Ltd.
Almaden Minerals has decided to build their flagship project in Mexico (Ixtaca). They spun out their 40 exploration properties to their stockholders in a new company (Almadex Minerals). Ixtaca has a PFS (pre-feasibility study) to produce an average of 80,  more
06/07/2017
Analysis  
Updated: Almaden Minerals Ltd.
Almaden Minerals has decided to build their flagship project in Mexico (Ixtaca). They spun out their 40 exploration properties to their stockholders in a new company (Almadex Minerals). Ixtaca has a PFS (pre-feasibility study) to produce an average of 80,  more
06/07/2017
Analysis  
Updated: Goldquest Mining Corp
Goldquest Mining has an advanced gold project in the Dominican Republic. The Romero project is 2 million oz at 2.5 gpt with a 28% after-tax IRR at $1300 gold. It looks solid, with a capex of only $158 million. Cash costs are projected to be $400 per oz...  more
06/06/2017
Analysis  
Updated: Jaguar Mining Inc
Jaguar Mining is a mid-tier producer in Brazil with 2 operating mines. Recently they went bankrupt from high costs and high debt. They have now restructured the debt and re-listed their shares. Original shareholders got wiped out and the bond holders now...  more
06/06/2017
Analysis  
Updated: Pan American Silver Corp.
Pan American Silver is one of the best silver producers. They plan to increase silver production from 25 million oz to 30 million oz. As long as silver prices stay high, they are going to be a cash flow machine. Cash costs in 2017 will be around $7 per...  more
06/05/2017
Analysis  
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 150,000 oz in 2017 to approximately 400,000 by 2021. They have two producing mines in Mexico with all-in costs (free cash...  more
06/05/2017
Analysis  
Updated: Silver Bull Resources Inc
Silver Bull Resources has a large silver/zinc project in Mexico. Sierra Mojada is a 90 million oz (50 gpt and 75% recovery rate) silver deposit with 4 billion lbs of zinc, plus copper and lead. The property is on 50,000 acres and has exploration...  more
06/05/2017
Analysis  
Updated: Treasury Metals Inc
Treasury Metals has an advanced gold project (Goliath) in Canada. It is an open pit (800,000 oz at 2.5 gpt) and underground (700,000 oz) mine. The PEA was updated in 20178 for a capex of $96 million to build the open pit, which has a 8 year mine life (88,  more
06/04/2017
Analysis  
Updated: Manitou Gold Inc.
Manitou Gold is a project generator focusing on properties in Ontario, Canada. It is a small exploration team with six early exploration properties on 35,000 acres. They have a FD market cap of $4 million. Rob McEwen own 9% of the company and Goldcorp 8%.  more
06/03/2017
Analysis  
Updated: Maple Gold Mines Ltd.
Aurvista Gold has a large 2.8 million oz (1 gpt) in-pit resource (inferred) in Quebec. Their new CEO announced his intention to sell the project. They have cancelled updating the PEA and are now going to drill in 2017 and 2018. They have 45% insiders, so...  more
06/03/2017
Analysis  
Updated: Mineral Mountain Resources Ltd
Mineral Mountain Resources is a new company with a lot of potential. They have a good management and technical team, led by Nelson Baker, the ex CEO of Rainy River. They are drilling their Rochford project (7,500 acres in South Dakota). It is 15 miles...  more
06/03/2017
Analysis  
Updated: Perseus Mining Ltd
Perseus Mining is a mid-tier producer in West Africa. In 2012 when I analyzed it, the FD market cap was a $1.3 billion market cap. Today it is down to $250 million, but they have doubled their resources to 15 million oz with the acquisition of Amara...  more
06/02/2017
Analysis  
Added: Bezant Resources Plc
Bezant Resources had a large copper/gold project in the Philippines (1 billion lbs of copper and 2 million oz of gold). However, the Philippines government revoked their license because they claimed it was on a watershed. There stock has crashed from 37...  more
06/01/2017
Analysis  
Added: Zonte Metals Inc
Zonte Metals is a project generator focused in Canada. They have a property (McConnells Jest) in the Yukon (7,500 acres) that is located next to Victoria Gold and Alexco. Samples have been good, but they haven't started drilling yet. A few good drill...  more
06/01/2017
Analysis  
Added: Eurasia Mining Plc
Eurasia Mining is mostly a PGM (Platinum group metals) focused company in Russia. They have cash flow from a small platinum mine (West Kytlin), but only about 4,000 oz per year. They are trying to build a larger mine with 1.9 million oz of palladium...  more
06/01/2017
General  
May 2017 Newsletter Posted
The May 2017 newsletter has just been posted.  more


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