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News from December 2017

12/31/2017
Analysis  
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
12/31/2017
Analysis  
Updated: Spanish Mountain Gold Ltd
Spanish Mountain has a large (7 million oz at .45 gpt) open pit gold project in Canada (British Columbia). They recently updated their PEA, which reduced the capex to $400 million, decreased cash costs to $700 per oz, and increased their after-tax IRR to...  more
12/31/2017
Analysis  
Updated: Conroy Gold & Natural Resources Plc
Conroy Gold has an open pit project (Clay Lake - Clontibret) in N. Ireland that appears to be expanding in size. The initial resource is 500,000 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
12/31/2017
Analysis  
Updated: 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 potential 2 million oz resource. Most of the grade has been low at surface (about 1 gpt), but there have been several...  more
12/31/2017
Analysis  
Updated: Irving Resources Inc
Irving Resources is a new company that was recently formed in 2015 to explore Japan. They have 33,000 acres on Hokkaido island. Investors like their chances, bidding up the FD market cap to $34 million. It seems pricey to me. They haven't even started...  more
12/31/2017
Analysis  
Updated: Horizon Gold Ltd
Horizon Gold is a new company (spin out from Panoramic Resources) in Australia. They have a 1.2 million oz (2 gpt) open pit project (Gum Creek) that looks excellent. The FD market cap is only $15 million, which is really cheap for their potential. They...  more
12/31/2017
Analysis  
Updated: Abraplata Resource Corp
Abraplata Resource Corp recently obtained the Diablillos silver/gold project from Silver Standard (now SSR Mining). They paid cash ($15 million) and shares (20% of the company) to obtain 100%. Diablillos is a 80 million oz (90 gpt) silver deposit with...  more
12/30/2017
Analysis  
Updated: Asanko Gold Inc
Asanko Gold (formerly Keegan Resources) is a new mid-tier producer in West Africa (Ghana). They have two flagship projects and are heading towards 400,000 oz of production in 2021. Their 1.7 million oz Nkran open pit project is producing 220,000 oz at...  more
12/30/2017
Analysis  
Updated: Blackham Resources Ltd
Blackham Resources is a gold producer in Australia. They have an 800,000 oz open pit project (Matilda) that began production in 2016. They will produce 60,000 to 80,000 oz annually at about $1200 all-in costs for 6 to 8 years (likely to get extended)....  more
12/24/2017
Analysis  
Updated: Lupaka Gold Corp
Lupaka Gold is advancing a small gold project to production in Peru. Their 600,000 oz (5 gpt) underground Invicta project is supposed to begin production soon (within 6 months). It has low resources, but I would expect some exploration success (70,000...  more
12/24/2017
Analysis  
Updated: 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 $10 million. If you like copper, this could be a very...  more
12/24/2017
Analysis  
Updated: 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, although very low grade (1.7 gpt). They don't provide the annual silver production...  more
12/17/2017
Analysis  
Updated: Minnova Corp
Minnova Corp (formerly Auriga Gold) is a potential producer - if they can get financing. They need to raise $35 million to begin production approximately 12 months later. Minnova wants to begin production on their Maverick property (5,000 acres) in...  more
12/17/2017
Analysis  
Updated: Rizal Resources Corp
Rizal Resources (formerly Cadan Resources) is a small producer in the Philippines. The T Boli project is a 1 million oz deposit (8 gpt). They could easily reach 40,000 oz production (their share) with their resources. It is undervalued with a FD market...  more
12/17/2017
Analysis  
Updated: Kingsgate Consolidated Ltd.
Kingsgate Consolidated had a solid 4 million oz mine (Chatree) in Thailand with $750 per oz cash costs. It was shut-down due to environmental issues. They are currently suing the Thai government for reparations. Plus, they are suing their insurance...  more
12/16/2017
Analysis  
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
12/16/2017
Analysis  
Updated: Semafo Inc.
Semafo Inc. is a mid-tier producer in West Africa with a FD market cap of $850 million. They will produce 200,000 oz in 2017 with cash costs around $700. Currently building their second mine (Natougou/Boungou), which will produce 225,000 oz annually with...  more
12/16/2017
Analysis  
Updated: Telson Mining
Telson Resources is a gold producer in Mexico. They acquired Campo Morado in 2017, which has a 2.2 million oz deposit (including silver). Production is at 50,000 oz a year. Cash costs are unknown since they just resumed production, but it should be below...  more
12/16/2017
Analysis  
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
12/16/2017
Analysis  
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
12/10/2017
Analysis  
Updated: Barrick Gold Corp
Barrick Gold is a monster company with 192 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
12/10/2017
Analysis  
Updated: Compania De Minas Buenaventura Saa
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
12/10/2017
Analysis  
Updated: Comstock Mining Inc
Comstock Mining was a small gold producer in Nevada. They halted production in 2016 because of high costs. Since then their share price has crashed and they also did a reverse split, which further hurt shareholders. Comstock is another in a long list of...  more
12/10/2017
Analysis  
Updated: Goldcorp Inc.
GoldCorp is growing and plans to increase gold production from 2.5 million oz in 2017, to 3 million oz by 2021. 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
12/10/2017
Analysis  
Updated: Orion Minerals NL
Orion Gold is trying to advance a zinc, copper, gold project in South Africa (Areachap/Prieska). It is a past producing mine and needs a feasibility study (due in 2018) to resume production (target of 2020). This seems to be their focus. They have debt...  more
12/09/2017
Analysis  
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 3 producing mines with 27 million oz (4 gpt) of gold resources. Their all-in costs are around $1000 per oz, providing...  more
12/04/2017
General  
New Seeking Alpha Article: Top 15 Gold Mining Stocks.
https://seekingalpha.com/article/4129432-top-15-gold-mining-stocks?v=1512439846&comments=show  more
12/03/2017
Analysis  
Updated: Garibaldi Resources Corp.
Garibaldi Resources is a project generator. In 2017, they have a major discovery in the Golden Triangle of British Columbia at their E&L property. Their share price explored from 8 cents to $3.70. Today it is back to $1.93. The discovery is near the...  more
12/02/2017
Analysis  
Updated: Highland Gold Mining Ltd
Highland Gold Mining is a mid-tier producer in Russia. They have 3 producing mines and 3 more under development. With a market cap of $650 million, they are not cheap, but a possible 5 bagger long term. The will produce about 250,000 oz in 2017 and have...  more
12/02/2017
Analysis  
Updated: New Carolin Gold Corp
New Carolin Gold has a permitted historical mine (1984) in British Columbia. Their Ladner project includes 35,000 acres and 5 past producing mines. The infrastructure is excellent, only a 2 hour drive from Vancouver. They are not yet giving guidance for...  more
12/02/2017
Analysis  
Updated: Sulliden Mining Capital Inc
Sulliden Mining Capital has been a successful exploration company. They have sold their last 4 projects. This strategy isn't great for shareholders (I think keeping at least 20% is a better strategy), but is common for exploration stocks. Now they have $2  more
12/02/2017
General  
November 2017 Newsletter Posted
The November 2017 newsletter has just been posted.  more


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