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News from August 2018

08/31/2018
Analysis  
Updated: Novo Resources Corp
Novo Resources has exploded in value based on a potential large discovery in Western Australia (Pilbara region). It is an exciting exploration play, but everything will depend on their exploration results. They have obtained 3 million acres in...  more
08/28/2018
Analysis  
Updated: Kirkland Lake Gold Ltd
Kirkland Lake Gold is a major gold producer in Canada and Australia. They have a large property (Macassa mine) in Ontario on 13,000 acres. It is a 5 million oz resource (16 gpt) that will produce 230,000 oz around 2018. In 2015, they purchased St...  more
08/27/2018
Analysis  
Updated: Goldsource Mines Inc
GoldSource Mines is trying to build a small gold mine in Guyana. They had planned to start small and steadily increase production and grow organically. However, low recovery rates and low gold prices created negative cash flow, and forced them to change...  more
08/26/2018
Analysis  
Updated: Kerr Mines Inc
Kerr Mines (formerly Armistice Resources) had two very good properties and they were producing 20,000 oz per year in 2013. However, low gold prices killed them. They got into debt and had to sell most of their valuable properties: Larder Lake, Kerr-Addiso  more
08/26/2018
Analysis  
Updated: Kerr Mines Inc
Kerr Mines (formerly Armistice Resources) had two very good properties and they were producing 20,000 oz per year in 2013. However, low gold prices killed them. They got into debt and had to sell most of their valuable properties: Larder Lake, Kerr-Addiso  more
08/26/2018
Analysis  
Updated: AXMIN Inc.
Axmin Inc. is highly undervalued with reserves valued at $7 per oz (future reserves) and an FD market cap of $18 million. They have a large 3 million oz (2 gpt) surface project in CAR (Central African Republic) called Passendro. The problem is this...  more
08/26/2018
Analysis  
Updated: Geopacific Resources Ltd
Geopacific Resources is trying to build a 1.5 million oz (1.5 gpt) open pit project (Woodlark Island) in Papua New Guinea. It is permitted, economic (30% after-tax IRR), with a pre-feasibility study. They are working on the DFS, and they will need to...  more
08/26/2018
Analysis  
Updated: Middle Island Resources Ltd
Middle Island Resources has a gold project (Sandstone) in Australia. They stopped work on PFS (pre-feasibility study) in December 2016 because the pit shell resource size wasn't large enough. Subsequently the stock price crashed by 75% from 6 cents to 1...  more
08/26/2018
Analysis  
Updated: Artemis Resources Ltd
Artemis Resources is an Australian mining company with several properties in Western Australia on 650,000 acres. None of them have large resources, but the recent discovery by Novo Resources on their 50% Purdy's Reward JV looks interesting. Many of their...  more
08/25/2018
Analysis  
Updated: Amarc Resources Ltd.
Amarc Resources appears to be a project generator (but they claim to be an exploration and development company). They have four properties in British Columbia that look promising. However, none of them are advanced. Their Newton project is the most...  more
08/25/2018
Analysis  
Updated: East Africa Metals Inc
East Africa Metals is a new project generator. They arose from a spin-out from Canaco Resources in 2012. They have three large properties in Tanzania and Ethiopia. The Magambazi project (25,000 acres) is a 30% JV with a Chinese producer. It is a 1...  more
08/25/2018
Analysis  
Updated: Mawson Resources Ltd
Mawson Resources is a new project generator focusing in Sweden and Finland. They do not yet have any JV deals, but they have a potential big project in Sweden called Rompas - Rajapalot (42,000 acres). They began initial drilling (4,000 meters) in 2012...  more
08/25/2018
Analysis  
Updated: Silver Predator Corp
Silver Predator Corp. is a small project generator. In 2017, they sold their Springer tungsten mine for the debt they owned. Plus, they sold their Taylor silver mine in Nevada for $1.2 million and a 2% NSR. This did not leave them with much. I'm not sure...  more
08/25/2018
Analysis  
Updated: Minera Alamos Inc
Minera Alamos recently purchased two advanced gold projects (La Fortuna and Guadalupe De Los Reyes) in Mexico. La Fortuna (15,000 acres) is only a 300,000 oz deposit, but it is a good grade (2 gpt) open pit. They released a PEA in 2018 with a 90% after-ta  more
08/25/2018
Analysis  
Updated: Rupert Resources Ltd
Rupert Resources is trying to restart a gold mine in Finland. The stock rose from 3 cents to 1.08 cents in 2016 and 2017, and is currently at 78 cents. However, now it has become mostly an exploration play, because they have low resources of only 1...  more
08/23/2018
Analysis  
Added: Discovery Metals Corp
Discovery Metals is a new project generator focused in Mexico. They have 750,000 acres on two large properties. All of their properties are early exploration, but it appears they have a silver discovery on their Puerto Rico property. They are cashed up...  more
08/22/2018
Analysis  
Added: Osino Resources
Osino Resources is a new project generator focused in Namibia (South Africa). They acquired Romulus Resources and changed their name in 2018. It's a good management team that used to run Auryx Gold before it was acquired by B2Gold. They have 10...  more
08/21/2018
Analysis  
Updated: Medusa Mining Ltd.
Medusa Mining is a mid-tier producer in the Philippines. They plan to produce about 90,000 oz in 2018 (Co-O mine), with cash costs around $600 per oz and all-in costs around $1200 per oz. They have been having problems with grade and higher all-in costs....  more
08/20/2018
Analysis  
Updated: Anglogold Ashanti Ltd.
AngloGold Ashanti is one of the largest gold producers. They are also one of the most undervalued. In fact, they have a 3 rating (potential 5 bagger), which is rare for a major. The key for this company is reducing their debt ($2 billion) and avoiding...  more
08/19/2018
Analysis  
Updated: Tomagold Corp
Tomagold Corp. is a new project generator in Canada. They have 33,000 acres in Quebec on 7 properties that are all next to each other. They have 3 JV deals with IAMGold, which include Monster Lake, Winchester, and Lac-a-l'eau properties. IAMGold has to...  more
08/19/2018
Analysis  
Updated: Southern Arc Minerals Inc
Southern Arc Minerals is a project generator based in Canada. They have had several successful discoveries, but never seem to be able to monetize them into shareholder value. It has been a nightmare for shareholders, with the stock price falling from $20...  more
08/19/2018
Analysis  
Updated: Unigold Inc.
Unigold Inc has a large gold discovery in the Dominican Republic. Their Neita property (50,000 acres) is approaching late stage development. They have already found 2.9 million oz (inferred) and have 25 more targets. It is both an open pit (2 million oz...  more
08/19/2018
Analysis  
Updated: Chalice Gold Mines Ltd.
Chalice Gold Mines is a project generator based in Australia. They sold their Cameron project to First Mining Finance in 2016 for an 8% ownership in First Mining Finance, plus cash. They also sold a large project in Africa for about $100 million. Now...  more
08/18/2018
Analysis  
Updated: Globex Mining Enterprises Inc
Globex Mining is a project generator that has been around for 60 years. With 156 projects (77 are precious metals) in Eastern Canada. They also have 50 royalty properties, with 1 paying out about $1.5 million per year. You would think they would have...  more
08/18/2018
Analysis  
Updated: Inventus Mining Corp
Inventus Mining appears to have a gold discovery (Pardo) in Ontario, Canada. Their stock jumped from 3 cents a share to 35 cents after the discovery in 2013. Now it's back to 18 cents. Pardo is still early exploration, but a large property (48,000 acres)...  more
08/18/2018
Analysis  
Updated: Rockhaven Resources Ltd.
Rockhaven Resources has a high grade gold and silver discovery in the Yukon (Canada). The Klaza property is large (70,000 acres) and has 9 discovered zones to drill. It's already a 1.2 million oz gold deposit at 3.5 gpt at surface, plus another 27...  more
08/18/2018
Analysis  
Updated: Quebec Precious Metals Corp
Quebec Precious Metals (formerly Canadian Strategic Metals) is a project generator focused in Quebec, Canada. They have a gold discovery (Sakami-Apple) with 70% ownership. It is in a good location and early drill results have been pretty good. The size...  more
08/18/2018
Analysis  
Updated: New Oroperu Resources Inc
New Oroperu is a small project generator in Peru. They have a 30% interest (plus a 2% NSR) in a 3.2 million oz deposit (Tres Cruces) being developed by Barrick Gold. This mine is likely to be built because of its large size. However, it is still early...  more
08/18/2018
Analysis  
Updated: Contact Gold Corp
Contact Gold is a new exploration company focused on Nevada. They are looking for a large mine in the Carlin Trend. They have 13 properties on 65,000 acres. Currently they are cashed up with $4 million and are drilling a discovery (Pony Creek). It looks...  more
08/16/2018
Analysis  
Updated: Focus Minerals Ltd.
Focus Minerals was a mid-tier producer in Australia, but they halted production in 2013 due to high cash costs. My guess is once gold passes $1400, they will resume production. They have two solid properties: Laverton (82%) and Coolgardie (100%). Both...  more
08/15/2018
Analysis  
Updated: Euromax Resources Ltd
Euromax Resources has significant upside potential. The Ilovitza project in Macedonia has 2.5 million oz (low grade of .33 gpt). It has a feasibility for 83,000 oz of annual production at $250 cash costs (using copper offsets), plus a large amount of...  more
08/14/2018
Analysis  
Updated: Euro Sun Mining Inc
Euro Sun Mining (formerly Carpathian Gold) was a mid-tier producer in Brazil with a huge debt load. In 2015, they were able to make a deal to sell the project for the amount of debt ($177 million). Now they are debt free with a large gold/copper project...  more
08/13/2018
Analysis  
Updated: Strategic Metals Ltd
Strategic Metals is a project generator in the Yukon. Their stock price rose 500% in 2010, and peaked at $4.34 per share in 2011, but has since crashed (along with many gold and silver mining stocks). At today's 31 cent price ($30 million fully diluted),...  more
08/13/2018
Analysis  
Updated: Citigold Corp. Ltd.
Citigold has 100 bagger potential at higher gold prices. They have 11 million oz of gold at 14 gpt (all inferred). Plus, they think they could find 50 million oz on their flagship Tower Charter mine in Australia. It is a past producing mine requiring an...  more
08/12/2018
Analysis  
Updated: Newcrest Mining Ltd.
Newcrest Mining is a solid company with production of 2.2 million oz at 6 operating mines. They have low cash costs of around $650 per oz because of their copper and silver offsets, with all-in costs around $1000 per oz in 2018. Their balance sheet isn't...  more
08/12/2018
Analysis  
Updated: St Barbara Ltd
St. Barbara is a mid-tier gold producer based in Australia. They have three producing mines. Gwalia/Leonora in Australia at 250,000 oz, and Simberi in Papua New Guinea at 100,000 oz. Cash costs for the last quarter were about $650 per oz (because of the...  more
08/11/2018
Analysis  
Updated: Cartier Resources Inc.
Cartier Resources is a project generator focusing in Quebec. They have 7 gold projects and are drilling, but have not yet found an advanced project or made any JV deals. None of their properties have a 43-101 resource estimate, and are either past...  more
08/11/2018
Analysis  
Updated: Great Panther Silver Ltd
Great Panther Silver is a mid-tier producer in Mexico. They have two producing mines in Mexico that produce 90% precious metals (silver and gold). They will produce 4 million oz of silver equivalent in 2018. They have low resources in Mexico, but have...  more
08/11/2018
Analysis  
Updated: Bayhorse Silver Inc
Bayhorse Silver (formerly Kent Exploration) had a good property (Gnaweeda) and spun it out into a new company (Archean Star). That left shareholders with 2 small silver projects in Oregon and Idaho. That was not shareholder friendly, as that property...  more
08/11/2018
Analysis  
Updated: Manitou Gold Inc.
Manitou Gold is a project generator focusing on properties in Ontario, Canada. It is a small exploration team with six early exploration properties on 35,000 acres. They have a FD market cap of $5 million. Rob McEwen own 9% of the company and Goldcorp 8%.  more
08/11/2018
Analysis  
Updated: Zonte Metals Inc
Zonte Metals is a project generator focused in Canada. They have a property (McConnells Jest) in the Yukon (7,500 acres) that is located next to Victoria Gold and Alexco Resources. It's in a good location and investors have bid up their market cap....  more
08/11/2018
Analysis  
Updated: Fireweed Zinc Ltd
Fireweed Zinc is a new company with a zinc/silver project (Macmillan Pass) in the Yukon. There has been 70,000 meters of historical drilling. They released a PEA in 2018. It has 6% zinc and 4% lead, plus 55 million oz of silver at 30 gpt. The capex is...  more
08/11/2018
Analysis  
Updated: Inca Minerals Ltd
Inca Minerals has a high grade zinc/silver discovery (Riqueza) in Peru. They have identified 20 veins at surface. The average sample has returned 7% zinc and 200 gpt silver. They did initial drilling in 2017 of 23 holes. However, I could not find any...  more
08/10/2018
Analysis  
Updated: Granada Gold Mine Inc
Granada Gold Mine Inc. (previously Gold Bullion Development) has a large gold project (Granada) in Quebec, Canada. It is extremely undervalued with an FD market cap of only $12 million. Their future reserves (my estimated) in the ground is currently...  more
08/09/2018
Analysis  
Updated: Rio2 Ltd
Rio2 Ltd (recent takeover of Atacama Pacific Gold) has a large gold project (Cerro Maricunga) in Chile. It is a 5 million oz, low grade (.4 gpt) oxide surface mine (80% recovery rate). They released a PFS in 2014 to mine 250,000 oz per year. The cash...  more
08/09/2018
Analysis  
Added: West Wits Mining
West Wits Mining is a small gold producer in South Africa. Their gold resources appear to be limited for open pit mining in South Africa. Their current mine has a 1-year mine life, although they are trying to get two more open pit mining licenses. They...  more
08/07/2018
Analysis  
Added: Sokoman Iron Corp
Sokoman Iron has 5 gold properties in Newfoundland, Canada. Investors are excited about recent drill holes at their Moosehead property (17 meters at 11 gpt and 16 meters at 14 gpt). Those are solid holes, but it's still early and not a lot of drilling...  more
08/06/2018
General  
New SeekingAlpha: Current Best Investment Opportunities
https://seekingalpha.com/article/4195423-current-best-investment-opportunities  more
08/05/2018
Analysis  
Updated: Evrim Resources Corp
Evrim Resources is a new project generator. They recently got very lucky. A property they optioned (keeping a 2% NSR) to First Majestic Silver (Ermitano) announced a monster hole of 106 meters at 13 gpt gold, plus another hole of 195 meters at 2 gpt gold.  more
08/05/2018
Analysis  
Updated: TNR Gold Corp
TNR Gold is a project generator with an interesting project in Alaska. Their Shotgun project covers 17,000 acres in a very good location to find gold. They already have a 700,000 resource at 1 gpt, with a lot more likely to be discovered. This is a...  more
08/05/2018
Analysis  
Updated: Lionsgold Ltd
Lionsgold Ltd (formerly Kolar Gold) is expanding their businesses model to include gold trading and gold storage services. Currently their stock is not trading while they add the 38% purchase of TRAK Technology. They are also trying to advance a high-  more
08/05/2018
Analysis  
Updated: Antler Gold Inc
Antler Gold is a new project generator focused in Canada (formed in 2016). They have a single project (Wilding Lake) in Newfoundland (a good location) on 50,000 acres. Early trenching has been promising and they have been able to raise money for drilling.  more
08/04/2018
Analysis  
Updated: Avrupa Minerals Ltd
Avrupa Minerals is a Canadian based Project Generator that is exploring in Europe. They have 12 projects, most of which are primarily base metals (Copper and Tungsten), and are focusing in Portugal and Kosovo. They have 4 JVs, one in Kosovo, Germany, and...  more
08/04/2018
Analysis  
Updated: Rambler Metals & Mining Plc
Rambler Metals and Mining is a copper and gold producer in Canada. They are producing 1250 tpd and plan to increase production to 2000 tpd. Most of the production is copper. They have a single long life mine (Ming) that began production in 2012. Copper...  more
08/04/2018
Analysis  
Updated: Terraco Gold Corp
Terraco Gold is a speculation stock, but it has upside potential. They have a 3% NSR on the 5 million oz Spring Valley project in Nevada. This will give them $7 million to $15 million in annual free cash flow (depending on the gold price), once the...  more
08/04/2018
Analysis  
Updated: Xtierra Inc
Xtierra Inc. has a late stage silver project in Mexico. The problem is that the PEA has a post-tax IRR of only 13%. Plus, the capex was $100 million, which is probably too much to finance 1.4 million oz of annual production. It could get financed, but...  more
08/04/2018
Analysis  
Updated: Pan Andean Minerals Ltd
Pan Andean Minerals (formerly BCGold Corp) is small project generator based in Canada. They have a large property (13,000 acres) in Peru (Chanape / Pucacorral) that they recently obtained. It is currently their focus. Past drill results have been...  more
08/04/2018
Analysis  
Updated: Para Resources Inc
Para Resources is new gold producer. They have two small producing mines in Arizona (Gold Road) and Colombia (El Limon). Plus, they have another under development in Brazil (Tucuma). Their target is 30,000 oz of production in 2018 with cash costs around $  more
08/03/2018
Analysis  
Updated: Condor Resources Inc.
Condor Resources is a project generator focused in Peru. They have 7 properties and 2 JVs, all of which are early stage exploration. Currently they are drilling two projects, which they hope to JV. They have a low FD market cap of $7 million, so one...  more
08/02/2018
Analysis  
Updated: Angkor Gold Corp
Angkor Gold Corp. is a project generator in Cambodia. They have 5 large properties on 250,000 acres, but all are early exploration without a significant discovery. They have 3 JV deals where their partners are drilling. They are low on cash, so expect...  more
08/02/2018
Analysis  
Updated: Klondike Gold Corp.
Klondike Gold has three properties in the Yukon totalling 135,000 acres. There is gold on these properties and if gold prices explode in value, this company should do well. They drilled 50 holes in 2016 and 2017, with plans to drill another 50 in 2018....  more
08/01/2018
General  
July 2018 Newsletter Posted
The July 2018 newsletter has just been posted.  more


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