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News from July 2018

07/30/2018
Analysis  
Updated: Silver Mines Ltd.
Silver Mines Ltd is perhaps largest pure silver miner in Australia. They recently purchased the Bowdens project, which is the largest undeveloped silver project in Australia (150 million oz). It is low grade (50 gpt), but has zinc and lead offsets....  more
07/29/2018
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
07/29/2018
Analysis  
Updated: Pantoro Ltd
Pantoro Ltd is a high grade gold producer in Australia. It has an FD market cap of $182 million and they are ramping up to 80,000 oz a year by the end of 2018. They currently only have 350,000 oz of resources (6 gpt), but drill results have been...  more
07/29/2018
Analysis  
Updated: Red Rock Resources Plc
Red Rock Resources is a mining, oil and gas, exploration and development company. They have several projects, but only a $9 million FD market cap. Clearly, management has not achieved their objectives. They have projects all over the world. From reverse...  more
07/29/2018
Analysis  
Updated: 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 2.4 million oz (1 gpt) of gold and 300 million lbs of copper. They also have a...  more
07/29/2018
Analysis  
Updated: Altiplano Metals
Altiplano Minerals is advancing two copper/gold projects in Chile. They have an option to issue 7.5 million shares to obtain 100% of both projects. This should close in 2018. Both projects are currently small, but have exploration potential to expand in...  more
07/28/2018
Analysis  
Updated: Amarillo Gold Corp
Amarillo Gold has an excellent project in Brazil. The Mara Rosa project (1.3 million oz at 1.6 gpt) is economic (30% after-tax IRR at $1300 gold) with cash costs of only $550 per oz. They need to complete the final feasibility study, which is scheduled...  more
07/28/2018
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 pay off their outstanding debt. Now...  more
07/28/2018
Analysis  
Updated: Goldmining Inc
Goldmining Inc. (previously Brazil Resources) stated strategy is to acquire advanced stage projects. They have done an incredible job achieving that strategy. In 2012, they acquired the Cachoeira project. After their initial drilling, the resource size...  more
07/27/2018
Analysis  
Updated: Beaufield Resources Inc
Beaufield Resources has five gold properties in Quebec and Ontario, but all are early exploration. Tortigny (100,000 acres) has had good drill results, but it currently a small deposit. It is a potential gold/silver/zinc/copper mine. At this time, I...  more
07/27/2018
Analysis  
Updated: Regulus Resources Inc
Regulus Resources is a project generator with two large copper projects. They acquired Southern Legacy Minerals in 2014, which had a 3 billion lb copper project (Antakori) in Peru, with 3.4 million oz of gold (.35 gpt). Since then their market cap has...  more
07/25/2018
Analysis  
Updated: Oklo Resources Ltd
Oklo Resources is an Australian project generator focusing on Mali, West Africa. They have 8 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
07/23/2018
Analysis  
Updated: 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, but has significant potential. They have identified 8 drill areas. The Cliff...  more
07/22/2018
Analysis  
Updated: Probe Metals Inc
Probe Metals (recent merger with Adventure Gold) has a 1.5 million oz deposit 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 next...  more
07/22/2018
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
07/22/2018
Analysis  
Updated: Solgold Plc
Solgold has a very large copper/gold project in Ecuador. They released their first resource estimate in 2018 for the Alpala deposit. It has 12 million oz of gold at .35 and 10 billion lbs of copper (about half indicated). It should become much bigger...  more
07/22/2018
Analysis  
Updated: Solgold Plc
Solgold has a very large copper/gold project (Cascabel) in Ecuador. They released their first resource estimate in 2018 for the Alpala deposit. It has 12 million oz of gold at .35 and 10 billion lbs of copper (they get 85%). It should become much bigger...  more
07/21/2018
Analysis  
Updated: Continental Gold Inc
Continental Gold has excellent properties in Columbia. Their flagship Buritica project is high grade (8 gpt) and is a 9 million oz resource, with more drilling planned. This was a $10 stock in 2011 and today it is $3.00. They have $150 million in cash (al  more
07/21/2018
Analysis  
Updated: Fresnillo Plc
Fresnillo is a major with an FD market cap of $11 billion and is the largest silver producer at 55 million oz per year. They plan to expand production to 65 million oz. This is a very profitable company with low cash costs. They have large resources at 2...  more
07/21/2018
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 25 cents from this...  more
07/21/2018
Analysis  
Updated: Us Gold Corp
US Gold Corp has two early exploration projects in Nevada and Wyoming. They are excited the most about their Keystone project in Nevada (18,000 acres). It is located on the Cortez Trend near two huge mines (Cortez Hills and Pipeline). They think it could...  more
07/19/2018
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 $350 per oz, and are...  more
07/18/2018
Analysis  
Updated: Sarama Resources Ltd
Sarama Resources is a project generator in West Africa (Burkina Faso). 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. It will...  more
07/17/2018
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
07/17/2018
Analysis  
Updated: 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
07/16/2018
Analysis  
Updated: Millrock Resources Inc.
Millrock Resources is a project generator focused in North America and Mexico. They have 27 properties and about 7 JVs. These numbers should increase over time. It's still cheap with a $21 million FD market cap because they do not have an advanced...  more
07/15/2018
Analysis  
Updated: Koza Gold Corp
Koza Gold Corp is a large gold producer in Turkey with 13 million oz of resources. They have low cash costs and have been added to GDXJ. Plus, they have an excellent balance sheet with $370 million in cash and no debt. They have 4 operating mines,...  more
07/14/2018
Analysis  
Updated: Endeavour Mining Corp
Endeavour Mining is a large gold producer in West Africa, with 5 operating mines in 3 countries. Their market cap has jumped to $1.8 billion, so they aren't cheap anymore. They are producing 700,000 oz with all-in costs around $1000 per oz. They have...  more
07/14/2018
Analysis  
Updated: Bunker Hill Mining Corp
Bunker Hill Mining (previously Liberty Silver) 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. It is permitted, but they need...  more
07/14/2018
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 $3.5 million in the bank and plan to drill in 2018. All of their properties are early...  more
07/14/2018
Analysis  
Updated: Jaxon Mining Inc
Jaxon Minerals is a project generator focused on the Golden Triangle in British Columbia, Canada. They have two projects (Hazelton and More Creek) that are ready for drilling. Hazelton is more advanced and on 120,000 acres. It will get some drilling...  more
07/14/2018
Analysis  
Updated: 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 2018. They recently obtained a property (La Cobra) in Honduras that has significant past production. They received the property...  more
07/13/2018
Analysis  
Updated: Gowest Gold Ltd
Gowest Gold is advancing to production in Canada. They only have one project (North Timmins), but it is large (27,000 acres) and has 15 targets. Plus, the Bradshaw deposit is a 1.2 million oz (5 gpt) resource that looks like a sure thing. It is a high-gra  more
07/11/2018
Analysis  
Updated: Vista Gold Corp.
Vista Gold has a large project in Australia called Mt Todd (8 million oz at .8 gpt, with 82% recovery rate). The stock is currently cheap with huge upside potential. One red flag is they might not be able to finance the capex, which is projected to be...  more
07/10/2018
Analysis  
Updated: Silver One Resources Inc
Silver One Resources is a new company formed in 2016. In 2017, they acquired the Candalaria project in Nevada from Silver Standard for $4 million in shares, plus a 3% NSR. This project has a historical resource of 40 million oz in M&I at 3.5 opt and 80...  more
07/08/2018
Analysis  
Updated: Maple Gold Mines Ltd.
Maple Gold Mines (previously Aurvista Gold) has a large 3.3 million oz (1.1 gpt) resource (most of it is inferred) in Quebec. Their new CEO announced his intention to sell the project, with this statement: "The team is now focused on making Maple Gold...  more
07/08/2018
Analysis  
Updated: Mineral Mountain Resources Ltd
Mineral Mountain Resources is a new company with a gold project in South Dakota. They have a good management and technical team, led by Nelson Baker, the ex CEO of Rainy River. They are currently drilling their Rochford project (7,500 acres). It is 15...  more
07/08/2018
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 do not drop, they are going to be a cash flow machine. Cash costs in 2018 will be around $4 per...  more
07/08/2018
Analysis  
Updated: Silvercorp Metals Inc
Silvercorp is a mid-tier producer in China. They have large resources with 250 million oz at 200 gpt. Their cash costs for 2017 were under $4 per oz. All-in costs were below $8 per oz (free cash flow). Thus, they are profitable at very low silver prices...  more
07/08/2018
Analysis  
Updated: 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 2 million oz of palladium...  more
07/07/2018
Analysis  
Updated: Calibre Mining Corp
Calibre Mining is a project generator in Nicaragua. They have 8 early exploration properties in Nicaragua and 2 are JVs. I like their JV partners. IAMGold will spend $3 million over the next 2 years drilling the Borosi project (42,000 acres). They have...  more
07/07/2018
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 2018 with all-in costs around $12 per oz. They plan to spend $5 million to increase production. The Parral tailing project has 35...  more
07/07/2018
Analysis  
Updated: Oceanagold Corp.
OceanaGold is a large mid-tier producer. They have 13 million oz in resources (1.2 gpt) and will produce 525,000 oz in 2018 with all-in costs around $900 per oz. They are not cheap, with an FD market cap of $1.8 billion and future reserves valued at $166...  more
07/07/2018
Analysis  
Updated: Sabina Gold & Silver Corp
Sabina Gold & Silver has a large high-grade gold project in Canada. The Back River project has 7 million oz (6 gpt) and significant exploration potential. The feasibility study calls for 200,000 oz of production annually at 3,000 tpd. The capex is $325...  more
07/07/2018
Analysis  
Updated: Atico Mining Corp
Atico Mining is a small copper/gold producer in Colombia. They are profitable, with all-in costs around $1000 per oz, and they have a decent balance sheet. Plus, they have have a new discovery. Recent drill holes have been impressive: 109 meters at 3.8...  more
07/07/2018
Analysis  
Updated: Barsele Minerals Corp
Barsele Minerals was a recent spin-out from Orex Minerals. They have a single project, which is the Barsele gold project in Sweden. It is currently a 2.5 million oz (2.7 gpt) open pit and underground project. They have a JV with Agnico Eagle, who has an...  more
07/06/2018
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 around $1200 per oz. Plus, several exploration and development projects. Production is projected to...  more
07/04/2018
Analysis  
Updated: Tanzanian Royalty Exploration Corp
Tanzanian Royalty Exploration has a late stage project (Buckreef) and numerous exploration properties in Tanzania. In fact, they have a 5-year plan to bring 3 projects into production: Buckreef, Itetemia and Kigosi. In 2013, the CEO (Jim Sinclair) gave...  more
07/04/2018
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 1.4 gpt, with significant amounts of copper (260 million lbs) and zinc (1.2 billion lbs) for offsets. Revenue is projected at about 70% gold,...  more
07/04/2018
Analysis  
Updated: Goldstrike Resources Ltd
Goldstrike Resources is a project generator in the Yukon. They have a large property (Plateau) that appears to have a large gold discovery. Trenching and soil samples have confirmed a 4-mile trend, which is a very large drilling target. Newmont Mining...  more
07/03/2018
Analysis  
Added: Matsa Resources
Matsa Resources is a near-term gold producer in Australia. They only have 450,000 oz (2.2 gpt), so they will be a small producer. They did test mining in 2017 and plan to begin full-time mining in 2018. They have 4 projects on 125,000 acres. Their...  more
07/02/2018
Analysis  
Updated: Auryn Resources Inc
Auryn Resources is a new company, but an experienced management team that came from Cayden Resources. They recently obtained the large (150-mile trend) Committee Bay project in Nunavut, Canada. It's in an infrastructure challenged area, but it has high-gr  more
07/01/2018
Analysis  
Updated: Azimut Exploration Inc.
Azimut Exploration is a project generator focused in Northern Quebec. The upside is unknown because all of their projects are early stage. They have 4 JVs with solid companies (Goldcorp, Hecla, Eastmain, and Everton) and 1.5 million acres of exploration...  more
07/01/2018
Analysis  
Updated: Silver Range Resources Ltd
Silver Range Resources is a new spinout from Strategic Metals, which owns 18%. They have 41 projects Canada: Yukon (4), Nunavut (15), NWT (5), Nevada (17). All of their projects are early exploration and the reason for their low valuation. Silver...  more
07/01/2018
Analysis  
Updated: Callinex Mines Inc
Callinex Mines is a project generator focused in Canada. They are really a zinc exploration company with 4 zinc projects totalling 2.6 billion lbs of zinc eq. They might even be a development company, with guidance of production at their Nash Creek (New...  more
07/01/2018
Analysis  
Updated: Impact Minerals Ltd.
Impact Minerals is a project generator focused in Australia. Their Commonwealth project (2,000 acres) is a small gold discovery (less than 100,000 oz) at 2.8 gpt, plus 48 gpt silver. They think it could be a large system and has a lot of drill target...  more


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