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News from June 2018

06/30/2018
Analysis  
Updated: Alexandria Minerals Corp.
Alexandria Minerals appears to be a project generator, although they claim to also be a developer. When I see a company with an advanced project and all they do is drill, that is a sign they have no intention of building the mine. Plus, they had an...  more
06/30/2018
Analysis  
Updated: Skeena Resources Ltd
Skeena Resources is a project generator in Canada. They have 3 projects in the golden triangle in northern British Columbia. They seem to have a good management team and are making progress on all three projects. They have $6 million in cash and plan to...  more
06/28/2018
Analysis  
Updated: Avino Silver & Gold Mines Ltd
Avino Silver & Gold is an emerging mid-tier silver producer in Mexico. They will produce about 3 million oz of silver equivalent in 2018 with all-in costs around $13 to 14 per oz (free cash flow). They think they can increase production to 4 million oz (s  more
06/28/2018
Analysis  
Updated: Anaconda Mining Inc
Anaconda Mining is a small producer in Canada. They are only producing about 18,000 oz per year at their Point Rousse project in Newfoundland, with all-in costs around $1200 to $1300 per oz. So, they are currently marginally profitable, which provides...  more
06/26/2018
Analysis  
Updated: Endeavour Silver Corp
Endeavour Silver is an elite stock in the silver production category. All of their properties are in Mexico. They have 4 high-grade silver/gold producing mine, with expected production of 10 million oz (silver equivalent including gold) in 2018. They are...  more
06/26/2018
Analysis  
Updated: Paramount Gold Nevada Corp
Paramount Gold Nevada is developing two gold projects with 5 million oz. It is a new company that was a spinout of Paramount Gold & Silver in 2015, which sold their San Miguel project. That left them with the Sleeper project in Nevada. Sleeper is very...  more
06/24/2018
Analysis  
Updated: Lydian Intl. Ltd.
Lydian International has an excellent gold project (Amulsar) in Armenia. It is a 5 million oz resource (3.5 million M&I at .7 gpt). The deposit is near surface oxides, which are low cost to mine. Production is scheduled for Q4 2018, with a target of 225,0  more
06/24/2018
Analysis  
Updated: Silver Bear Resources Plc
Silver Bear Resources has a large (125,000 acres) late stage project in Russia. Their Mangazeisky project is a 60 million oz resource of extremely high grade silver. The first 5 years of production will be at 800 gpt (25 oz per ton). That was not a typo,...  more
06/24/2018
Analysis  
Updated: Inv Metals Inc
INV Metals has an advanced large gold project. The problem is that Loma Larga is in Ecuador and investors are avoiding high-risk locations. Loma Larga is a 2.5 million oz (4 gpt) underground project. The silver and copper offsets reduce the cash costs to...  more
06/24/2018
Analysis  
Updated: De Grey Mining Ltd.
De Grey Mining has an open pit gold project in Australia. Their Pilbara project is large with 250,000 acres and is 60 miles long. It has a lot of exploration potential. Currently they have 1.2 million oz at 1.5 gpt. They plan to do feasibility study in...  more
06/23/2018
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 80,000 oz (.6...  more
06/23/2018
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 a 67% recovery rate. Surprisingly Batero Gold has a low valuation of $6 million fully diluted. The stock has crashed 98% from $3.80 per share...  more
06/23/2018
Analysis  
Updated: Bear Creek Mining Corp.
Bear Creek Mining is advancing a large silver project in Peru. Corani (300 million oz at 50 gpt) is one of the largest undeveloped silver projects in the world. Corani is on schedule for production around 2021, if they can finance the project ($580...  more
06/23/2018
Analysis  
Updated: NorZinc Ltd.
NorZinc Ltd (previously Canadian Zinc) has a silver/zinc/lead project (Prairie Creek) in the Northwest Territories. They are heading towards production once they get financing ($180 million capex) and have a large high-grade deposit (70 million oz at 4...  more
06/23/2018
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
06/23/2018
Analysis  
Updated: Midas Gold Corp
Midas Gold has a very large gold project in Idaho that is heading to production around 2022. Stibnite is a 6.4 million oz resource (1.6 gpt) that is growing in size and has significant exploration potential. They have an FD market cap of $279 million,...  more
06/23/2018
Analysis  
Updated: Americas Silver Corp.
Americas Silver Corp (formerly Scorpio Mining) is a mid-tier silver producer in Mexico and Idaho. They merged with U.S. Silver & Gold in 2014, who had the 54 million oz Galena high grade silver mine. They currently produce around 2 million oz of silver...  more
06/23/2018
Analysis  
Updated: Treasury Metals Inc
Treasury Metals has an advanced gold project (Goliath) in Ontario, Canada. It is an open pit (800,000 oz at 2.5 gpt) and underground (700,000 oz) mine. The PEA was updated in 2017 for a capex of $96 million to build the open pit and mill. It will require...  more
06/21/2018
Analysis  
Updated: Western Copper & Gold Corp.
Western Copper and Gold has a huge copper/gold project in Canada (Yukon) called Casino. I think it is too big for them to build with a capex of $2.5 billion. The feasibility was completed back in 2013 and permitting is ongoing. They do not appear to be...  more
06/19/2018
Analysis  
Updated: Candelaria Mining Corp
Candelaria Mining is focused in Mexico. They purchased the Caballo Blanco project from Timmins Gold in 2016. They are currently trying to permit it with the goal of near-term production. It is a 600,000 oz (.6 gpt) open pit with an after-tax IRR around...  more
06/17/2018
Analysis  
Updated: Starcore Intl. Mines Ltd.
Starcore International is a small gold producer in Mexico, with annual production of about 15,000 oz at their San Martin mine. They have high costs, with a breakeven point around $1,250 gold. For this reason, investors have been selling the stock. Their...  more
06/17/2018
Analysis  
Updated: Doray Minerals Ltd.
Doray Minerals is a small gold producer in Australia. Their Deflector mine produces around 60,000 oz with cash costs around $700 per oz. It provides some cash flow, but they need higher gold prices and larger resources. With about 600,000 oz (5 gpt) is...  more
06/17/2018
Analysis  
Updated: Komet Resources Inc
Komet Resources is a small gold producer in West Africa (Burkina Faso). Their Guiro project is a high grade (8 gpt) underground mine with low cash costs. They expect to make a profit of $8 million with production of only 12,000 oz. That puts their cash...  more
06/17/2018
Analysis  
Updated: Aztec Minerals Corp
Aztec Minerals is a new exploration company. They have two projects. Their Cervantes gold project (8,000 acres) is a recent discovery, with initial drilling in 2017 and 2018. They have to be excited about the drill results (160 meters at .77 gpt, 139...  more
06/16/2018
Analysis  
Updated: Coral Gold Resources Ltd.
Coral Gold had an excellent project in Nevada called Robertson (2.7 million oz). They sold it to Barrick Gold for $15 million, plus a small NSR. Now all they have left are three small early exploration gold projects in Nevada. I would not expect them to...  more
06/16/2018
Analysis  
Updated: Klondike Silver Corp
Klondike Silver is trying to advance a small high-grade silver project in Canada. They have the 30,000 acre Slocan Camp in British Columbia that has 25 past producing mines on it. They have a mill and are trying to restart the Silvana mine, which...  more
06/16/2018
Analysis  
Updated: MAG Silver Corp
Mag Silver has an excellent late stage project in Mexico. Their Juanicipio project is a JV with Fresnillo and they have a 44% interest. Production should begin in 2020 and it has a 19 year mine life (likely to be increased). Mag's share will be about 5...  more
06/16/2018
Analysis  
Updated: Pinecrest Resources Ltd
Pinecrest Resources has a gold project (Enchi) in Ghana, West Africa. The resource size is 1.5 million oz at .65 gpt, and will likely grow in size. It is a large property (140,000 acres) with a lot of drilling targets. They completed a PEA in 2015 for a...  more
06/16/2018
Analysis  
Updated: Adamera Minerals Corp
Adamera Minerals is hoping to become a small gold producer. They have several targets in an area in Washington State (USA) near a mill that can be used. They are confident they can find at least 200,000 oz at 5 gpt, and potentially 1 million oz. It is...  more
06/16/2018
Analysis  
Updated: Genesis Metals Corp
Genesis Metals is project generator focused in Canada. They have two exciting gold properties in Quebec. Both are 100% owned. Chevrier (25,000 acres) is a gold discovery that they are drilling. It is already 300,000 oz at 2 gpt and appears to have much...  more
06/16/2018
Analysis  
Updated: Nxgold Ltd
NxGold Ltd (formerly Lancaster Capital) is a new company formed in 2016. They have two early exploration gold projects. Their 10,000 acre Kuulu property in Nunavut has a $35 million option to obtain 70%. They must make steady large payments, which will...  more
06/16/2018
Analysis  
Updated: Canadian Orebodies Inc.
Canadian Orebodies is a project generator focused in Canada (Ontario). They have three early exploration projects in Ontario, Canada on 70,000 acres. It's a new company, and they made their first discovery (Black Raven) in 2017 after drilling 22 holes (18  more
06/16/2018
Analysis  
Updated: ValOre Metals
ValOre Metals (formerly Kivalliq Energy) has a large (1 million acres) gold exploration project (Baffin) in Nunavut, Canada. It has an 80-mile strike with many drill targets. It looks like they are going to find a mine. They have a lot of exploration...  more
06/12/2018
Analysis  
Updated: RNC Minerals
RNC Minerals (previously Royal Nickel) is a small gold, copper, nickel producer in Australia and Canada. They have low resources for their $55 million FD market cap. They will produce about 50,000 oz of gold in 2018 (Beta Hunt), but it will require...  more
06/11/2018
Analysis  
Updated: Eastmain Resources Inc
Eastmain Resources is a project generator. All of their 9 projects (250,000 acres) are in mine friendly Quebec and Ontario. They have two high-grade gold projects that look promising in terrific locations, plus many other projects to drill. Their...  more
06/11/2018
Analysis  
Updated: Anglo Asian Mining Plc
Anglo Asian Mining is a gold producer in Azerbaijan. Production is projected at 60,000 oz in 2018, with all-in costs around $12000 per oz (free cash flow). Their Gedabek surface mine has been in production since 2009 and has 200,000 in resources. This...  more
06/10/2018
Analysis  
Updated: Kootenay Silver Inc
Kootenay Silver (previously Kootenay Gold) is a project generator focused in Mexico. After their acquisition of International Northair (April 2016), they have 14 properties and 4 JV deals. Their flagship project is Promontorio, which is a 115 million oz...  more
06/10/2018
Analysis  
Updated: Nevsun Resources
Nevsun Resources is a mid-tier producer in East Africa (Eritrea). However, they are really a copper miner. Their Bisha project is winding down production in 2021. It had 1 billion lbs of copper, but also a significant amount of gold and silver. Gold...  more
06/10/2018
Analysis  
Updated: Nevsun Resources
Nevsun Resources is a mid-tier producer in East Africa (Eritrea). However, they are really a copper miner. Their Bisha project is winding down production in 2021. It had 1 billion lbs of copper, when they began production in 2011. It also had a...  more
06/10/2018
Analysis  
Updated: Lundin Gold Inc
Lundin Gold obtained the Fruta Del Norte from Kinross for $240 million. Fruta is a huge high-grade open pit (9 million oz at 7 gpt). Kinross paid $1.2 billion for it from Aurelian Resources. Kinross did a pre-feasibility study to produce 400,000 oz for...  more
06/10/2018
Analysis  
Updated: Royal Road Minerals Ltd.
Royal Road Minerals is a project generator focused in Colombia and Nicaragua. They don't have any discoveries yet. However, they have a pretty good management team that comes from Lydian International. They have had several discoveries in the past,...  more
06/10/2018
Analysis  
Updated: Indutrias Penoles NPV
Industria Penoles owns 75% of Fresnillo, which is one of the largest silver and gold producers in the world. They claim most of that production in their financials (Fresnillo is listed as a subsidiary), so I'm a bit confused. Fresnillo has a separate...  more
06/09/2018
Analysis  
Updated: Aldridge Minerals Inc.
Aldridge Minerals has a late stage gold project in Turkey that appears headed for production in 2021 if they can get financing. They need to raise $230 million, so they might have to sell the project to a larger company with deeper pockets. Their...  more
06/09/2018
Analysis  
Updated: Evolution Mining Ltd
Evolution Mining is a large gold producer in Australia. They have seven producing mines and will produce about 800,000 oz in 2018. They have low cash costs (about $550 per oz) and are very profitable. They have $300 million in debt, but plenty of cash...  more
06/09/2018
Analysis  
Updated: St. Augustine Gold & Copper Ltd
St. Augustine Gold & Copper has a very large project in the Philippines (King-king). It is primarily a copper project with gold offsets. The stock price has crashed to 2 cents because of political events in the Philippines. The President has been anti-min  more
06/09/2018
Analysis  
Updated: Orecorp Ltd
Orecorp Ltd. has an excellent gold project in Tanzania. The Nyanzaga deposit is a 3 million high-grade surface and underground mine. The problem is that they might only get 25%. Acacia Mining has a 60-day option to retain 75% after the feasibility is...  more
06/06/2018
Analysis  
Added: Deer Horn Capital Inc
Deer Horn Capital is advancing a small gold/silver/telleruim project in British Columbia. It's very economic, with an after-tax IRR of 40%. Plus, the capex is only $28 million. Plus, they have a tiny FD market cap of $5 million. However, they will likely...  more
06/05/2018
Analysis  
Updated: Robex Resources Inc.
Robex Resources is a small gold producer in West Africa. They have an excellent property called Nampala (1.5 million oz at .7 gpt and growing). The problem is the location: Mali. Are investors going to invest in Mali, where the city of Timbuktu was...  more
06/05/2018
Analysis  
Updated: Minaurum Gold Inc
Minaurum Gold is a project generator with 5 projects in Mexico. They have an experienced team and a very good Board of Directors. They recently made a high-grade silver discovery on their Alamos property (12,000 acres), which has numerous drill targets....  more
06/03/2018
Analysis  
Updated: Brixton Metals Corp
Brixton Metals is a project generator focused in Canada. They have three early exploration silver projects. The Thorn project (60,000 acres) in northern British Columbia is mostly a silver project, but it also has significant gold, copper, lead, and zinc...  more
06/01/2018
General  
May 2018 Newsletter Posted
The May 2018 newsletter has just been posted.  more
06/01/2018
General  
New SeekingAlpha Article: 10 Best Risk/Reward Leveraged Gold Stocks
https://seekingalpha.com/article/4178773-10-best-risk-reward-leveraged-gold-stocks  more


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