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News from May 2018

05/31/2018
Analysis  
Added: Stonewall Resources
Stonewall Resources is trying to become a gold producer in South Africa. They recently announced a 5 million oz high-grade resource and investors ignored them. They have a small FD market cap of $24 million. Their problem is the location. No one wants to...  more
05/30/2018
Analysis  
Updated: Perseus Mining Ltd
Perseus Mining is a mid-tier producer in West Africa. They will produce about 250,000 oz in 2018. Most of that will come from their large Edikan project in Ghana. They will also produce about 75,000 oz from their new Sissingue project in Cote D’Ivoire....  more
05/29/2018
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 550,000 oz of production for 2018 is worth a market cap of $1.4 billion. In 2022, they...  more
05/28/2018
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 170,000 oz in 2018 to approximately 215,000 by 2019. They have three producing mines in Mexico with all-in costs (free cash...  more
05/28/2018
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
05/28/2018
Analysis  
Updated: Alio Gold Inc.
Alio Gold (previously Timmins Gold) is a mid-tier producer that began producing in 2010. Their San Francisco mine is winding down. They only plan to produce 500,000 oz through 2023, although I expect this to be extended because it currently has 900,000...  more
05/27/2018
Analysis  
Updated: Minera IRL Ltd
Minera IRL is a small producer, with mid-tier potential. It has extreme risk, because they have $75 million in debt and only $2 million in cash. Plus, they need $175 million for the capex of their flagship project (Ollachea in Peru). They have been...  more
05/27/2018
Analysis  
Updated: Trueclaim Exploration Inc.
Trueclaim Exploration is a project generator focused in Canada. They had very little activity from 2013 to 2017. In 2017, they acquired Northern Skye and their two properties (Berry-Desbouses, Hebecourt) in Quebec (7,500 acres). They also did a 10 to 1...  more
05/27/2018
Analysis  
Updated: Goldplat Plc
Goldplat PLC is a small producer in Kenya, plus they do gold recovery in South Africa and Ghana. The recovery is mostly done on old milling equipment, but they also do some toll milling from tailings and artisan mining. This business gives them cash flow...  more
05/27/2018
Analysis  
Updated: California Gold Mining Inc
California Gold Mining is project generator. They have two properties that both have potential mines. The Freemont Project in California is close to being advanced, with a 880,000 oz (1.6 gpt) surface deposit, plus significant underground exploration...  more
05/27/2018
Analysis  
Updated: Keras Resources Plc
Keras Resources PLC is a small project generator. They will own 48% of Caldius Resources after they complete a feasibility study on their Warrawoona property (Western Australia). It is a 450,000 oz deposit (2 gpt) that is likely to get mined, but it...  more
05/27/2018
Analysis  
Updated: Mexus Gold Us
Mexus Gold was a small producer in Mexico. Recently they parted ways with their JV partner at Santa Elena and are going to restart and operate the mine. Their goal is to ramp up production from 500 tpd to 1,000 tpd in the near term. That is about 10,000...  more
05/26/2018
Analysis  
Updated: Orinoco Gold Ltd
Orinoco Gold is a small gold producer in Brazil. They do not have a resource estimate for Casavel, and didn't do a PEA or pre-feasibility study. Based on their 200 tpd production schedule, I guessed 10,000 oz for 2018. I guessed their future reserves at...  more
05/26/2018
Analysis  
Updated: Gascoyne Resources Ltd
Gascoyne Resources is a near-term gold producer in Australia. Their Dalgaranga deposit is 1.3 million oz (1.5 gpt), with production scheduled at 100,000 oz beginning in 2018. Most of the construction is completed. The capex is around $90 million and cash...  more
05/26/2018
Analysis  
Updated: Gascoyne Resources Ltd
Gascoyne Resources has two advanced gold projects in Australia, both with a PFS (pre-feasibility study). Their Dalgaranga deposit is 1.3 million oz (1.5 gpt). The capex is around $90 million and cash costs are low (around $700 per oz). Investors have...  more
05/26/2018
Analysis  
Updated: Red Pine Exploration Inc.
Red Pine is a project generator focused in Canada. Their Wawa project in Ontario has about 1 million oz. They own 60% and have a FD market cap of $21 million. Their target is to expand the resources to 3 million oz, which seems optimistic. The Surluga...  more
05/26/2018
Analysis  
Updated: Tower Resources Ltd
Tower Resources is an exploration company focused in Canada (British Columbia). They have 3 properties on 70,000 acres. Their More Creek project is located in the Golden Triangle and could be a potential gold discovery based on soil samples. They also...  more
05/26/2018
Analysis  
Added: Viva Gold Corp
Viva Gold is a new project generator formed in 2017. They have one project (Tonapah) in Nevada. It has a 400,000 oz (.8 gpt) resource that should grow in size. It's on 4,000 acres in a good location. They are low on cash and will need to dilute soon. If...  more
05/26/2018
Analysis  
Added: White Rock Minerals Ltd
White Rock Minerals is developing two projects. Mt Carrington in Australia is the most advanced. It is a two-phased project with 35,000 oz of annual gold production for 5 years, with a capex of $32 million. It has a pre-feasibility study completed and...  more
05/22/2018
Analysis  
Added: Vector Resources Ltd
Vector Resources is trying to become a gold producer in Central Africa (DRC). They have several excellent properties, but investors do not appear to be interested in the location. Their Adidi-Kanga project (60% ownership) was developed by Ashanti Gold,...  more
05/21/2018
Analysis  
Updated: Superior Gold Inc
Superior Gold is a new mid-tier producer in Australia. They will produce 100,000 oz in 2018 with all-in costs (free cash flow) around $1150 to $1200 per oz. Free cash flow should be around $15 million in 2018. Their only red flag is their resources of 2...  more
05/21/2018
Analysis  
Added: Spearmint Resources Inc
Spearmint Resources has 5 early exploration gold projects in Canada. Several of them are in the golden triangle. It does not appear that they have done much drilling and are low on cash. They seem to currently be focusing on their base metals projects (Li  more
05/20/2018
Analysis  
Updated: Abcourt Mines Inc.
Abcourt Mines is a bit of an anomaly. I analyze a lot of stocks, and for some reason this company doesn't spend much on their website or marketing their company to investors. They have not released a company presentation in the past 7 years. They have...  more
05/20/2018
Analysis  
Updated: B2gold Corp.
B2Gold is an emerging major with 6 producing mines in Nicaragua, Colombia, Philippines, Namibia, Burkina Faso, and Mali. Production is scheduled for 900,000 to 950,000 oz in 2018. They have low cash costs at $600 per oz. These low costs have attracted...  more
05/20/2018
Analysis  
Updated: Redstar Gold Corp
Redstar Gold is a project generator focused in North America. They have a large property in Alaska (Unga) on 60,000 acres. Unga has significant potential with numerous drilling targets. It is a narrow vein, high-grade discovery. They have not drilled...  more
05/20/2018
Analysis  
Updated: Royal Gold Inc
Royal Gold is a royalty company based in the US. They have 38 producing properties and 22 under development, plus another 100+ in early or advanced stage exploration. They are growing production and are a growth company (around 10% annual growth). They...  more
05/20/2018
Analysis  
Updated: Auris Minerals Ltd
Auris Minerals is a gold (and copper) exploration company in Australia. They had a large project (Grosvenor) and recently sold it for 18 million shares of Metals X (currently worth $13 million). Those shares could rise 5x in the future if they hold on to...  more
05/20/2018
Analysis  
Updated: Nordic Gold
Firesteel Resources is a near-term gold producer in Finland. Their Laiva gold mine (10,000 acres) was built by a previous owner for $250 million. They bought it for $20 million in forward gold sales (67,000 oz over 5 years) and 60 million shares. Now...  more
05/19/2018
Analysis  
Updated: GMV Minerals Inc
GMV Minerals is advancing an open pit oxide gold mine in Arizona. Their Mexican Hat property (4800 acres) is a gold discovery with 500,000 oz at .7 gpt. Their share price jumped in 2016 from 6 cents to 46 cents, but now back to 14 cents. The reason for...  more
05/19/2018
Analysis  
Updated: Abacus Mining & Exploration Corp
Abacus Mining and Exploration has a 20% interest in a large copper/gold project in Canada (British Columbia). The Ajax project has 2.7 billion lbs of copper and 2.6 million oz of gold reserves. They plan to produce 58,000 tons of copper and 125,000 oz of...  more
05/19/2018
Analysis  
Updated: S2 Resources Ltd
S2 Resources is a project generator based in Australia. They have three early exploration projects, but no discoveries. Their focus appears to be for precious metals. They acquired a gold property in Nevada (South Roberts) in 2017. Skellefte is in Sweden...  more
05/19/2018
Analysis  
Updated: Kenadyr Mining Holdings Corp
Kenadyr Mining (formerly Javelle Capital) has a gold discovery in the Kyrgyz Republic. It has a 2 million oz historical resource around 2.5 gpt. They have $3 million in cash for drilling. A year ago they had a market cap of $48 million. Now it is down to...  more
05/19/2018
Analysis  
Updated: Wallbridge Mining Company Ltd
Wallbridge Mining is a likely near-term producer in Quebec. Their Fenelon project is small with only 38,000 oz of M&I resources. They think they have enough exploration potential to become a 20,000 to 40,000 oz producer. Their plan is to spend $5 million...  more
05/19/2018
Analysis  
Updated: Highway 50 Gold Corp
Highway 50 Gold is an exploration company. They recently obtained a 50% option for a property (Monroe) in British Columbia (3,000 acres). The stock jumped from 4 cents to 41 cents in 2016, but is not back to 25 cents. They plan to begin drilling Monroe...  more
05/18/2018
Analysis  
Added: Silver Viper Minerals Corp
Silver Viper Minerals is a new company formed in 2017. They are a project generator focused in Mexico. Both of their projects are early exploration and not discoveries. La Virginia (85,000 acres) was drilled by the former owner (188 drill holes) and has...  more
05/15/2018
Analysis  
Added: Riversgold Ltd
Riversgold Ltd is a new project generator formed in 2017. They have an aggressive management team with projects in Australia (8 properties), Alaska (3 properties), and Cambodia (4 properties). All of them are early exploration with very little drilling....  more
05/14/2018
Analysis  
Added: PNX Metals
PNX Metals is advancing a zinc, silver, gold project in Australia. It's small with about 30,000 oz of gold equivalent production (including silver), with about 50% of the revenue from gold and silver. They are considering it a zinc mine, but that will...  more
05/13/2018
Analysis  
Updated: Guyana Goldfields Inc.
Guyana Goldfields is new mid-tier producer. Gold crashed to $1100 and this stock barely moved. It was a steal a few years ago, but has increased in value to a $740 million FD market cap. Production began in Q4 2015, with expected production of 200,000 oz...  more
05/13/2018
Analysis  
Updated: Premier Gold Mines Ltd.
Premier Gold Mines is a low cost mid-tier producer. They currently only operate one mine (Mercedes), which is in Mexico. They paid $123 million, plus 6 million shares, for the 800,000 oz Mercedes deposit. That seems high, but they expect to produce 90,000  more
05/13/2018
Analysis  
Updated: Torex Gold Resources Inc
Torex Gold Resources has two large open pit projects in Mexico. El Limon is a 4 million oz (2.6 gpt) deposit. El Limon began production in December 2015. It is the 20th largest open pit project in the world, with production over 300,000 oz per year for...  more
05/13/2018
Analysis  
Updated: Ireland Inc
Ireland Inc. has a potential large open pit gold mine in Nevada. Their Columbus property (45,000 acres) has an estimate of 175 million tons at 1 gpt based on 30 drill holes. That equates to 5 million oz, which seems optimistic to me. The 1 gpt recovery...  more
05/12/2018
Analysis  
Updated: Ascot Resources Ltd.
Ascot Resources has a large gold project in Canada (British Columbia). Their Dilworth/Premier project is a gold and silver surface mine. It is a 5 million oz gold resource (.7 gpt), plus 38 million oz of silver (4 gpt). However, recent drill results (572...  more
05/12/2018
Analysis  
Updated: Hecla Mining Company
Hecla Mining has two large low cost high grade silver mines: Lucky Friday in Idaho and Greens Creek in Alaska. They will produce 16 million oz of silver in 2018 at cash costs around $5 per oz. Plus, Greens Creek, Casa Berardi, and San Sebastian will...  more
05/12/2018
Analysis  
Updated: Melkior Resources Inc
Melkior Resources is an early project generator focused in Canada. They have three learly exploration gold projects. Carscallen in West Timmins is next to a Lakeshore Gold mine and is their focus. Recent drill results have been fairly good averaging...  more
05/12/2018
Analysis  
Updated: Resolute Mining Ltd.
Resolute Mining is a mid-tier producer (300,000 oz of production) with two producing mines in West Africa (Mali) and Australia. They have moderate cash costs ($800 per oz), with about $1100 all-in costs per oz. A good balance sheet with $200 million in...  more
05/12/2018
Analysis  
Updated: Xtract Resources Plc
Xtract Resources has a gold project (Manica) under development in Mozambique. It's a 1 million deposit. It is both open pit and undergound. They have a starter pit (Fair Bride at 1 gpt) and three other discoveries on the property. They completed a DFS in...  more
05/12/2018
Analysis  
Updated: Rise Gold Corp
Rise Resources is a project generator with a high grade gold project in California. Their Idaho-Maryland project has a historical resource of 1.3 million oz (10 gpt). It was last mined in 1954, and produced 2.4 million oz at 17 gpt. They claim that it...  more
05/12/2018
Analysis  
Added: Minotaur Exploration
Minotaur Exploration is a project explorer in Australia. They have several early exploration gold projects and two JVs. They have been around since 2005, but currently do not have a company presentation on their website. It appears they prefer to JV...  more
05/10/2018
Analysis  
Added: Metminco Ltd
Metminco Ltd is trying to become a gold producer in Colombia. They have acquired the properties (Miraflores, Dosquebradas, and Tesorito) that Seafield Gold owned before they went bankrupt. It appears that Metminco got a great deal because they don't have...  more
05/08/2018
Analysis  
Added: Juggernaut Exploration
juggernaut Exploration is a project generator focused in Canada. They have two gold projects (Midas and Empire) in British Columbia. Both are drill ready and appear to be potential discoveries based on grab samples and the geology. Both are large (80,000...  more
05/07/2018
Analysis  
Added: Interim Resources
Interim Resources is a small gold producer in Western Australia. They have the properties and expertise to grow the company. Currently they are producing about 20,000 oz annually. They have low resources of around 350,000 oz, but at least two additional...  more
05/07/2018
Analysis  
Added: Interim Resources
Interim Resources is a small gold producer in Western Australia. They have the properties and expertise to grow the company. Currently they are producing about 20,000 oz annually. They have low resources of around 350,000 oz, but at least two additional...  more
05/06/2018
Analysis  
Updated: Barkerville Gold Mines Ltd
Barkerville Gold is steadily advancing toward becoming a large company. Their market cap has jumped from $37 million to $235 million in the past four years. They have a new CEO and he is focusing on high grade underground mining. In fact, they do not...  more
05/06/2018
Analysis  
Updated: Golden Minerals Co
Golden Minerals is one of the few silver mining companies. They were doing great in 2011 with a share price high of $28. They had 50 properties on 800,000 acres, including two flagship projects: Velardena in Mexico and El Quevar in Argentina. Velardena...  more
05/06/2018
Analysis  
Updated: Anova Metals Ltd
Anova Metals is an Australian company advancing two gold projects. Their Big Springs project is a 1 million oz deposit. It is both an open pit (600,000 oz at 1 gpt) and underground (400,000 oz at 4 gpt) and open at depth. It was a past producing open pit...  more
05/06/2018
Analysis  
Updated: Anova Metals Ltd
Anova Metals is an Australian company advancing two gold projects. Their Big Springs project is a 1 million oz deposit. It is both an open pit (600,000 oz at 1 gpt) and underground (400,000 oz at 4 gpt) and open at depth. It was a past producing open pit...  more
05/05/2018
Analysis  
Updated: Prize Mining Corp
Prize Mining is advancing an open pit project in Canada (British Columbia). Their Kena and Daylight project is almost 2 million oz at .5 gpt (500,00 oz M&I). Their stated goal is to advance to production at around 50,000 oz annually. They have a good...  more
05/05/2018
Analysis  
Added: Iconic Minerals
Iconic Minerals is a project generator focused in Nevada. They have 3 early exploration gold projects (Hercules, Squaw Creek, New Pass) and 1 early exploration lithium project (Bonnie Claire). They do not have a company presentation, which is never a...  more
05/04/2018
Analysis  
Added: Provenance Gold Corp
Provenance Gold is a project generator with one project in the Yukon. Their 2K property (9,000 acres) is in a good location and has some excellent grab samples. They drilled an initial 13 holes and are waiting for the assays. They will try to raise money...  more
05/03/2018
Analysis  
Added: Plato Gold
Plato Gold is a project generator. They have 4 early exploration projects in Ontario, Canada. They are small properties, but in a good location. Osisko Mining holds 80% of Harker (400 acres) and 50% of Guibord. Their other two are Holloway (400 acres)...  more
05/02/2018
Analysis  
Added: Xanadu Mines
Xanadu Mines is a project generator focused in Mongolia. They have a world-class copper/gold discovery (Kharmagtai). It is already 1.5 billion lbs of copper and 2 million oz of gold. Plus, they have 19 targets to expand the size. This is going to be a...  more
05/01/2018
Analysis  
Added: Honey Badger Exploration
Honey Badger Exploration is a project generator focused in Canada. They have three high-grade silver properties in Ontario. They were mined in the 1800s, but have not been drilled by modern methods. Silver Mountain-Mink, Beaver, and Lilly are on 75,000...  more
05/01/2018
General  
April 2018 Newsletter Posted
The April 2018 newsletter has just been posted.  more


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