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News from September 2017

09/30/2017
Analysis  
Updated: Greatland Gold Plc
Greatland Gold is a London based stock with exploration properties in Australia. Both their Ernest Giles (65,000 acres) and Paterson (80,000 acres) are large, but have had very little exploration. They both have had a few drill holes and show potential....  more
09/29/2017
Analysis  
Updated: Aquila Resources Inc
Aquila Resources is developing a gold project in Michigan. Back Forty is a 1 million oz resource (2 gpt), along with Silver: 12 million oz (sold as part of a streaming deal). Zinc: 1 billion lbs Copper: 110 million lbs Lead: 74 million lbs...  more
09/28/2017
Analysis  
Updated: Romios Gold Resources Inc
Romios Gold has a large property (188,000 acres) in the Golden Triangle near Novagold's large Galore Creek copper project. They are drilling two projects (Newmont Lake and Trek) and have had some success. They have discovered copper, gold, and silver. It...  more
09/27/2017
Analysis  
Updated: Ely Gold Royalties
Ely Gold and Minerals has about 25 exploration projects and 20 royalties. The royalties include 1.5% to 3% NSR deals. They do not have any JV deals or are exploring. They seem to be focusing more on generating royalty properties than exploration. They...  more
09/26/2017
Analysis  
Updated: Eskay Mining Corp.
Eskay Mining has 130,000 acres next to the large Seabridge Gold Kerr project in the Golden Triangle (British Columbia, Canada). They recently made a JV deal on a portion of the property (SIB / 12,000 acres) with SSR Mining, who has to spend $12 million...  more
09/25/2017
Analysis  
Updated: TMAC Resources Inc.
TMAC Resources is a new mid-tier gold producer in Canada. Their Hope Bay project (400,000 acres) is a 6 million oz resource (8 gpt) that is highly economic (40% after-tax IRR). Production began in 2017. They have $164 million in debt, but that should not...  more
09/24/2017
Analysis  
Updated: Emx Royalty Corp
EMX Royalty Corp (formerly Eurasian Minerals) is a global project generator with 40 projects (about 10 JVs) in about 10 countries. With a FD market cap of $69 million, the upside is somewhat constrained without any large near-term cash flow projects....  more
09/24/2017
Analysis  
Updated: Marathon Gold Corp
Marathon Gold has an exciting discovery in Newfoundland, Canada. Their Valentine Lake project has a 18 mile trend on 60,000 acres and is already a 2 million oz open pit deposit at 2.2 gpt. This could easily double in size. The exploration potential looks...  more
09/24/2017
Analysis  
Updated: Patagonia Gold Plc
Patagonia Gold is a company with potential. They began producing in 2012 at Lomada de Leiva. They stopped production in 2016 and are now starting up production at Cap Oeste, where they have 1.2 million oz (including silver). They are only planning to...  more
09/24/2017
Analysis  
Updated: Patagonia Gold Plc
Patagonia Gold is a company with potential. They began producing in 2012 at Lomada de Leiva. They stopped production in 2016 and are now starting up production at Cap Oeste, where they have 1.2 million oz (including silver). They are only planning to...  more
09/24/2017
Analysis  
Updated: Trilogy Metals Inc
Trilogy Metals (formerly Novacopper) is two large copper projects in Alaska. In 2017, they made a 50/50 JV deal with South32 Ltd. South32 has to spend $10 million annually the next 3 years, and then pay Trimetals another $150 million to secure the 50/50...  more
09/24/2017
Analysis  
Updated: Latin American Minerals Inc
Latin American Minerals has an early exploration project (Paso Yobai) in Paraguay. They want to call it advanced exploration, because they have been working on it since 2012. However, it only has a few drill holes. They have discovered a vein that is...  more
09/24/2017
Analysis  
Updated: Tudor Gold Corp
Tudor Gold has several large properties (90,000 acres) in the golden triangle in British Columbia. Currently, their focus is on Treaty Creek. Early drill results have increased their FD market cap to $48 million. One drill hole was 240 meters at .8 gpt....  more
09/24/2017
Analysis  
Updated: Maverix Metals Inc
Maverix Metals is a new royalty company created by Pan American Silver, who owns 36%. They have 25 streaming and royalty properties. Six of which are generating income of around $20 million annually, which is growing to $30 million in 2018. It's not...  more
09/24/2017
Analysis  
Updated: Great Bear Resources Ltd
Great Bear Resources has two early exploration gold projects in Canada. Neither of which are a discovery or have had much drilling. Dixie Lake (23,000 acres) and Madsen (7,000 acres) are both in the Red Lake district in Ontario. They plan to drill both...  more
09/23/2017
Analysis  
Updated: Corvus Gold Inc
Corvus Gold has two promising JVs in Alaska, where they own 45% to 49% as an equity partner. But those are just a plus. The real value of Corvus is their North Bullfrog property in Nevada. It has three known deposits, plus several drill targets on 17,000...  more
09/23/2017
Analysis  
Updated: Eco Oro Minerals Corp
Eco Oro Minerals (formerly Greystar Resources) recently lost their mining rights for their Angostura project (3.2 million oz). The project had a PEA with a $500 million capex, but appears to be dead. They will likely get some money back from the...  more
09/23/2017
Analysis  
Updated: Gunpoint Exploration Ltd
Gunpoint Exploration is a project generator with an advanced project in Nevada (Talapoosa). It is a 1.2 million oz (1 gpt) open pit project with 15 million oz of silver (15 gpt). Timberline has an option to obtain Talapoosa for $10 million by August 2017,  more
09/23/2017
Analysis  
Updated: Novagold Resources Inc.
NovaGold Resources has a huge advanced gold project in Alaska. Donlin is a 45 million oz resource at 2.2 gpt, which is one of the highest grade large open pit mines in the world. They are projecting cash costs of $600 per oz. However, mining will not...  more
09/23/2017
Analysis  
Updated: Galane Gold Ltd
Galane Gold appears to have the management team and properties to be successful. They have a small FD market cap of $9 million, yet are producing 20,000 oz at Mupane (an open pit mine at 2 gpt). All-in costs (free cash flow) are around $1000 per oz. Plus,  more
09/23/2017
Analysis  
Updated: Shanta Gold Ltd.
Shanta Gold is a producer in Tanzania. Their open pit Luikda mine is a 1.2 million oz resource at 4 gpt. Current production is 80,000 oz at $1000 all-in costs. Thus, they are profitable with cash flow. They have $58 million in debt and $14 million in...  more
09/23/2017
Analysis  
Updated: Emmerson Resources Ltd.
Emmerson Resources is a small gold producer in Australia. Their Edna Beryl project has low resources (250,000 oz), but recent drill results are promising. They also have a 25% JV on their 1.3 million oz (8 gpt) Tennant Creek project. Plus, they recently...  more
09/23/2017
Analysis  
Updated: Japan Gold Corp
Japan Gold (formerly Sky Ridge Resources) is a new exploration company focused in Japan. They have 15 properties on 160,000 acres. All are early exploration, although they have 11 past producing high grade gold mines (before 1980). They have a lot of...  more
09/23/2017
Analysis  
Updated: Serengeti Resources Inc
Serengeti Resources has a very large copper/gold project (Kwanika) in British Columbia. It's already 5 billion lbs of copper and 2.5 million oz (.2 gpt) of gold. Plus, they recently hit a monster hole of 438 meters at .7% copper and .8 gpt gold. Kwanika...  more
09/23/2017
Analysis  
Updated: RJK Explorations Ltd
RJK Exploration has four early exploration projects in Canada.They had a FD market cap of $12 million in 2016, but after they sold their Blackwater project for $1 million, their share price has crashed. They also had a 10 to 1 reverse split in 2016 that...  more
09/20/2017
Analysis  
Updated: Osisko Mining Corp
Osisko Mining (previously Oban Mining) acquired the Windfall Lake project in 2015 from Eagle Hill. They also acquired Ryan Gold's properties in the deal. Windfall Lake is a high grade, 1.5 million oz resource. A PEA was completed to produce 100,000 oz...  more
09/19/2017
Analysis  
Updated: Aurion Resources Ltd
Aurion Resources has a major high grade gold discovery (Risti-Aamuruska) in Finland. Their share price was 30 cents a year ago. Today it is up to $2.42. The jump in price is from a 1,500 acre area with samples averaging 21 gpt. This property is on 35,000...  more
09/19/2017
General  
New SeekingAlpha Article: Paramount Gold Nevada
https://seekingalpha.com/article/4107708-paramount-gold-nevada-developing-two-gold-mines?v=1505756973&comments=show  more
09/17/2017
Analysis  
Updated: China Gold Intl. Resrcs Corp Ltd
China Gold International is an interesting stock if you like copper. Their CSH open pit gold mine is producing 220,000 oz and has 5 million oz of resources, which makes for a long life mine. This mine alone probably gives it a future value of $1 billion,...  more
09/17/2017
Analysis  
Updated: Lara Exploration Ltd
Lara Exploration is a good project generator. The only problem with this stock is that it is not precious metals focused. However, with a higher price of gold, I would expect this company to focus more on gold. Lara has shown the ability to create JV...  more
09/17/2017
Analysis  
Updated: Taseko Mines Ltd
Taseko Mines has an advanced stage gold project (Prosperity) in British Columbia. They are forecasting production at 200,000 oz per year (adjusted for Franco Nevada gold stream) for 20 years, plus a large amount of copper (5 billion lb resource). The...  more
09/17/2017
Analysis  
Updated: Terrax Minerals Inc.
TerraX Minerals is a project generator with a large property in Canada (Northwest Territories). They are drilling three or four different discoveries on their large (20,000 acre) Yellowknife property. It has 450 historical drill holes with several high...  more
09/16/2017
Analysis  
Updated: Chesapeake Gold Corp.
Chesapeake Gold is project generator with a huge project in Mexico. Metates has 18 million oz of gold (1 gpt), 525 million oz of silver (15 gpt), and 4 billion lbs of zinc. With gold production potentially reaching 750,000 oz per year, this could be one...  more
09/16/2017
Analysis  
Updated: Midland Exploration Inc.
Midland Exploration is a project generator with 41 properties and 21 projects on 600,000 acres in Quebec and Ontario. They have 6 JVs (gold projects), including deals with Agnico Eagle, Osisko, IAMGold, Teck and Soquem. However, none of them are advanced...  more
09/16/2017
Analysis  
Updated: Northern Star Resources Ltd
Northern Star Resources is a large gold producer in Western Australia. They have 5 producing mines and FD market cap of $2.5 billion. However, they only have 3.5 million oz of reserves and 10 million oz of resources. Investors seem to only care about the...  more
09/16/2017
Analysis  
Updated: RTG Mining Inc
RTG Mining is trying to develope a gold project in the Philippines. They planned to begin production in 2016 (stage 1), but the project has been on hold. The Mabilo gold deposit is 750,000 oz (1.5 gpt), with high grade copper offsets making it a low cost...  more
09/16/2017
Analysis  
Updated: Silver One Resources Inc
Silver One Resources is a new company formed in 2016. In 2017, the acquired the Candalaria project from Silver Standard for $4 million shares, payable over 4 years. This project has a historical resource of 40 million oz in M&I at 3.5 opt and 80 million...  more
09/15/2017
Analysis  
Updated: Medgold Resources Corp
Medgold Resources is a project generator focused in Europe. They have a 70/30 JV with Fortuna Silver in Serbia on their Tlamino project (75,000 acres). They had a recent discovery channel at surface that was 84 meters at 5.6 gpt gold and 105 gpt silver....  more
09/14/2017
Analysis  
Updated: Vast Resources Plc
Vast Resources is small gold producer in Zimbabwe. Their Pickstone/Peerless project is producing about 15,000 oz (their 50% share) at $900 per oz cash costs. It's a large deposit (3.5 million oz, they own half) with expansion potential to increase...  more
09/13/2017
Analysis  
Updated: Golden Dawn Minerals Inc
Golden Dawn Minerals is a new company trying to bring 3 past producing gold mines back in production. Lexington, Golden Crown, and May Mac (British Columbia). Historical production was 1 million oz of gold and 500 million lbs of copper. Lexington and...  more
09/12/2017
Analysis  
Updated: Echo Resources Ltd.
Echo Resources has an gold discovery in Western Australia. Their Yandal property (400,000 acres) has 10 known deposits with drilling targets, and about 1 million oz at 2 gpt. They appear to be a small exploration company, but they have been aggressively...  more
09/11/2017
Analysis  
Updated: METALLA ROYALTY
Metalla Royalty & Streaming (formerly Excalibur Resources) is a new royalty company. They are focusing on small deals from $2 to $10 million. They made their first deal for a 2% NSR in Peru (Minado), but it is capped at $1 million. Then they aggressively...  more
09/10/2017
Analysis  
Updated: Gogold Resources Inc.
GoGold Resources is a silver producer in Mexico. They will produce 1.5 million oz of silver equivalent (including gold) in 2017 with all-in costs around $12 per oz. They plan to spend $5 million to double production. The Parral/Emeralda tailing project...  more
09/10/2017
Analysis  
Updated: Gogold Resources Inc.
GoGold Resources is a silver producer in Mexico. They will produce 1.5 million oz of silver equivalent (including gold) in 2017 with all-in costs around $12 per oz. They plan to spend $5 million to double production. The Parral/Emeralda tailing project...  more
09/10/2017
Analysis  
Updated: Altius Minerals Corp.
Altius Minerals is a royalty company. They are primarily coal/electricity and potash (64% of revenue), plus base metals. However, they recently purchased Callinan Royalties, which has gold and silver projects (6% of revenue). Over time they will likely...  more
09/10/2017
Analysis  
Updated: Azarga Metals Corp
Azarga Metals has an early exploration project (Unkar) in Russia. The property is large (12,000 acres) and they think it has a 2+ mile strike length based on the initial 11 holes. It is a copper/silver discovery. The inferred resource is 42 million tons...  more
09/10/2017
Analysis  
Updated: Alicanto Minerals Ltd
Alicanto Minerals is a project generator based in Australia. They have a JV project with Barrick Gold in Guyana. Barrick has an option to obtain 65% if they spend $10 million over the next four years. Early drill results have been very good. It is a very...  more
09/09/2017
Analysis  
Updated: Avocet Mining Plc
Avocet Mining is an emerging mid-tier producer in West Africa (Burkina Faso). They have high costs and debt issues. They have cash costs around $950 per ounce and $60 million debt, with only about $1 million in cash. It looks like they are going to keep...  more
09/09/2017
Analysis  
Updated: Pan African Resources Plc
Pan African Resources is a mid-tier gold producer in South Africa. They have large resources at 30 million oz (3.5 gpt) and are producing 180,000 oz with all-in costs (free cash flow) around $1150 per oz. They have been paying a high dividend at 5%, but...  more
09/09/2017
Analysis  
Updated: Gold Road Resources Ltd
Gold Road Resources is a project generator focused in Western Australia. They recently made a JV deal with Gold Fields, who bought half of their Gruyere project for $282 million. It was a great deal for Gold Road, which could use that cash to fund their...  more
09/09/2017
Analysis  
Updated: Independence Group NL
Independence Group is mostly a base metals producer in Australia. They get cash flow from gold, nickel, zinc, and copper. They have two producing base metals mines, and a gold JV (Tropicana), where they receive 30% of production (150,000 oz in 2017)....  more
09/09/2017
Analysis  
Updated: Trevali Mining Corp
Trevali Mining is mostly a zinc producer, with about 90% of their revenue from zinc. They have producing mines in Peru (Santander), Canada (Caribou), West Africa (Perkoa), and South Africa (Rosh Pinah). I'm including them in the database because they...  more
09/08/2017
Analysis  
Updated: Agnico Eagle Mines Ltd
Agnico-Eagle Mines is a solid company with 20 million oz (2.5 gpt) of gold reserves and 50 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
09/08/2017
Analysis  
Updated: Franco Nevada Corp
Franco Nevada is a royalty company, and a very good one. They're revenue (92% comes from precious metals) growth is growing at fast rate. They have 46 producing projects with an expected free cash flow around $150 million in 2017. They have an excellent...  more
09/08/2017
Analysis  
Updated: Ausgold Ltd
Ausgold Ltd has a interesting exploration property in western Australia. Katanning (500,000 acres with a 9 mile strike) is a 600,000 oz (1.2 gpt) resource likely to grow in size. They have 50+ more targets to drill and are very confident they will reach...  more
09/07/2017
Analysis  
Updated: ATAC Resources Ltd.
ATAC Resources is project generator with a large project in the Yukon, Canada. The Rackla Gold project is a 115 mile narrow trend on 400,000 acres. They are drilling about 20 deposits and have had excellent drill results. So far it seems like every hole...  more
09/07/2017
Analysis  
Updated: Golden Arrow Res Corp.
Golden Arrow Resources has a large silver project (Chinchilla) in Argentina. SSR Mining (previously Silver Standard) has optioned 75% of the project, and will begin production in 2018. Chinchilla is a 140 million oz resource (60 gpt) with a PEA to...  more
09/06/2017
Analysis  
Updated: Freegold Ventures Ltd
Freegold Ventures has a large gold project in Alaska. The Golden Summit project (6.5 million oz at .6 gpt) is in a good location, only 20 miles from Fairbanks and 5 miles from a large Kinross surface mine. In their presentation they only list 3 million...  more
09/06/2017
Analysis  
Updated: Ariana Resources Plc
Ariana Resources is a new small gold producer in Turkey. They have a 51% ownership of the Red Rabbit project. Cash costs are projected to be only $600 per oz and the IRR is 38%. Production is 10,000 oz per year and only projected for 8 years. However,...  more
09/06/2017
Analysis  
Updated: Oceanus Resources Corp
Oceanus Resources is a project generator with a large low grade silver/gold project in Mexico. The El Tigre silver project (50,000 acres) has 44 million oz at 75 gpt. It is getting close to a PEA and will likely become a mine. They are cashed up ($3...  more
09/05/2017
Analysis  
Added: Sojourn Exploration Inc
Sojourn Exploration is a project generator focused in Canada. They have two early exploration properties in British Columbia (Golden Triangle). Willoughby (2,500 acres) and Oweegee Dome (75,000 acres) are both early exploration. They have $1 million in...  more
09/04/2017
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 2017, they...  more
09/04/2017
Analysis  
Updated: Pretium Resources Inc
Pretium Resources has two large gold/silver projects in British Columbia, Canada (located in the Golden Triangle). They have 60 million oz of gold and 250 million oz of silver at their Brucejack and Snowfield properties. They have excellent production...  more
09/04/2017
Analysis  
Updated: Red Eagle Mining Corp
Red Eagle Mining is a near-term gold producer in Colombia. I was very excited about this company when they released a PEA for their Santa Rosa project. The capex was only $75 million to produce 70,000 oz per year. The costs were low ($600 cash costs per...  more
09/03/2017
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 3.2 million oz, and all-in costs under $1100 per oz. Plus, several exploration and development projects. Production is projected to be...  more
09/03/2017
Analysis  
Updated: New Pacific Metals Corp
New Pacific Metals is a new company. In 2017, they paid $45 million to acquire Alcira, which has a potential large silver mine in Boliva (Silver Sand). They made a payment of $36 million and still owe $9 million. Silver Sand (750 acres) is still early...  more
09/02/2017
Analysis  
Updated: Falco Resources Ltd
Falco Resources has a large gold project in Quebec on 175,000 acres. The Horne mine is a 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. The gold...  more
09/02/2017
Analysis  
Updated: Ariana Resources Plc
Ariana Resources is a new small gold producer in Turkey. The have a 58% ownership of the Red Rabbit project. Cash costs are projected to be only $600 per oz and the IRR is 38%. Production is 20,000 oz per year and is only projected for 8 to 10 years....  more
09/02/2017
Analysis  
Updated: K92 Mining Inc
K92 Mining is an emerging mid-tier gold 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...  more
09/01/2017
Analysis  
Updated: Galantas Gold Corp
Galantas Gold is building a small high grade underground mine in Ireland. It will have a low capex ($11 million) because they already have a mill, which was recently used for open pit mining. The Cavanacaw / Omagh mine is 400,000 oz at 6 gpt. They will...  more
09/01/2017
Analysis  
Updated: Algold Resources Ltd
Algold Resources is a new company with 2 early exploration projects in West Africa (Mauritania). They have a good management team and were able to recently raise money, increasing their cash balance to about $7 million. They have a gold discovery (Tijirit  more
09/01/2017
General  
August 2017 Newsletter Posted
The August 2017 newsletter has just been posted.  more


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