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News from October 2018

10/31/2018
Analysis  
Updated: Bonterra Resources Inc
BonTerra Resources is an exciting new company in Canada. They acquired Metanor Resources in 2018 and now have aggressive plans to spend $45 million to become a mid-tier producer by 2020. They have 5 properties and a mill in Quebec. They plan to expand...  more
10/30/2018
General  
New SeekingAlpha: Chesapeake Gold
https://seekingalpha.com/article/4216091-chesapeake-gold-easy-way-bet-higher-gold-prices  more
10/29/2018
Analysis  
Updated: Marathon Gold Corp
Marathon Gold is developing a large gold project in Newfoundland. Their Valentine Lake project has an 18-mile discovery trend on 60,000 acres and already has 3.2 million oz (open pit / underground) at 2.2 gpt. This could easily grow in size. The...  more
10/29/2018
Analysis  
Updated: Victoria Gold Corp
Victoria Gold is bulding a large open pit project. Their Eagle Gold project looks excellent. It is a 6 million oz resource (.7 gpt) in Canada (Yukon). It is only a 70% recovery rate, so the actual resource is 4 million oz, which is still large....  more
10/28/2018
Analysis  
Updated: Corvus Gold Inc
Corvus Gold is a project generator focused in Nevada. Their North Bullfrog property in Nevada (17,000 acres) is a 2 million oz resource (1 gpt). They recently released a PEA with an IRR of 45% at $1300 gold. The capex is $175 million. The deposit is...  more
10/28/2018
Analysis  
Updated: Eco Oro Minerals Corp
Eco Oro Minerals (formerly Greystar Resources) recently lost their mining rights for their Angostura project (3.2 million oz). The project had a PEA with a $500 million capex, but appears to be dead. They will likely get some money back from the...  more
10/28/2018
Analysis  
Updated: Gunpoint Exploration Ltd
Gunpoint Exploration is a project generator with an advanced project in Nevada (Talapoosa). It is a 1.2 million oz (1 gpt) open pit project with 15 million oz of silver (15 gpt). They also have an exciting project (El Escorpion) in Guatemala next to...  more
10/28/2018
Analysis  
Updated: Patagonia Gold Plc
Patagonia Gold is a company with potential. They began producing in 2012 at Lomada de Leiva. They stopped production in 2016 and are now starting up production at Cap Oeste, where they have 1.2 million oz (including silver). They are only planning to...  more
10/28/2018
Analysis  
Updated: Patagonia Gold Plc
Patagonia Gold is a small producer in Argentina. They will produce about 40,000 oz at Cap Oeste in 2018, where they have 1.2 million oz (including silver). They are only planning to produce 80,000 oz over two years. Hopefully, they will use their cash...  more
10/28/2018
Analysis  
Updated: Shanta Gold Ltd.
Shanta Gold is a producer in Tanzania. Their open pit Luikda mine is a 1.2 million oz resource at 4 gpt. Current production is 80,000 oz at around $950 all-in costs (free cash flow). Thus, they are profitable with cash flow. They have $42 million in debt...  more
10/28/2018
Analysis  
Updated: Tudor Gold Corp
Tudor Gold has several large properties (90,000 acres) in the golden triangle in British Columbia. Currently, their focus is on Treaty Creek. Early drill results increased their FD market cap to $53 million. One drill hole was 240 meters at .8 gpt. In...  more
10/28/2018
Analysis  
Updated: Maverix Metals Inc
Maverix Metals is a new royalty company created by Pan American Silver, who owns 30%. They have 75 streaming and royalty properties. Six of which are generating income of around $32 million annually. It's not cheap with an FD market cap of $536 million,...  more
10/27/2018
Analysis  
Updated: Osisko Mining Corp
Osisko Mining (previously Oban Mining) acquired the Windfall Lake project in 2015 from Eagle Hill. They also acquired Ryan Gold's properties in the deal. Windfall Lake (and Osborne) is a high grade, 3.3 million oz resource. A PEA was completed to produce...  more
10/27/2018
Analysis  
Updated: Midland Exploration Inc.
Midland Exploration is a project generator with 41 properties and 21 projects on 600,000 acres in Quebec and Ontario. They have 6 JVs (gold projects), including deals with Agnico Eagle, Osisko, IAMGold, Teck and Soquem. However, none of them are advanced...  more
10/27/2018
Analysis  
Updated: Novagold Resources Inc.
NovaGold Resources has a huge advanced gold project in Alaska. Donlin is a 45 million oz resource at 2.2 gpt, which is one of the highest grade large open pit mines in the world. They are projecting cash costs of $600 per oz. However, mining will not...  more
10/27/2018
Analysis  
Updated: Galane Gold Ltd
Galane Gold appears to have the management team and properties to be successful. They have a small FD market cap of $14 million, yet are producing 20,000 oz at Mupane (an open pit mine at 2 gpt). All-in costs (free cash flow) are around $1000 per oz....  more
10/27/2018
Analysis  
Updated: Aurion Resources Ltd
Aurion Resources has a large high-grade gold discovery (Risti-Aamuruska) in Finland. Drilling has just begun, but they have 3400 samples averaging 10 gpt. This property is on 35,000 acres, but they have 500,000 acres in Northern Finland. They are...  more
10/27/2018
Analysis  
Updated: Emmerson Resources Ltd.
Emmerson Resources is a small gold producer in Australia (production recently began). Their Edna Beryl project has low resources (250,000 oz), but recent drill results are promising. They also have a 25% JV on their 1.3 million oz (8 gpt) Tennant Creek...  more
10/27/2018
Analysis  
Updated: Japan Gold Corp
Japan Gold (formerly Sky Ridge Resources) is a new exploration company focused in Japan. They have 12 gold properties on 150,000 acres. All are early exploration, although they have 11 past producing high grade gold mines (before 1980). They have a lot...  more
10/27/2018
Analysis  
Updated: Serengeti Resources Inc
Serengeti Resources has a very large copper/gold project (Kwanika) in British Columbia. It's already 5 billion lbs of copper and 2.5 million oz (.2 gpt) of gold. Plus, they recently hit two monster holes of 438 meters at .7% copper and .8 gpt gold, and...  more
10/25/2018
Analysis  
Updated: Canstar Resources Inc.
Canstar Resources is a project generator focusing on base metals projects in Newfoundland. They have 56% ownership in a significant property called Buchans - Mary March (100,000 acres). It is near a large past producing mine and the geology is very...  more
10/25/2018
Analysis  
Updated: Tribune Resources Ltd
Tribune Resources appears to be a project generator. They have a 37% JV called East Kundana (EKJV) that is in production. Production is around 75,000 oz annually with 1 million oz resources (their share). Revenue will be around $150 million in 2018. They...  more
10/24/2018
Analysis  
Updated: China Gold Intl. Resrcs Corp Ltd
China Gold International is mostly a copper stock, but they do have a lot of gold and silver. Their CSH open pit gold mine is producing 160,000 oz and has 5 million oz of resources, which makes for a long life mine. This mine alone probably gives it a...  more
10/21/2018
Analysis  
Updated: Northern Star Resources Ltd
Northern Star Resources is a new major. They have 5 producing mines at 850,000 oz and FD market cap of $4.4 billion. They only have 4 million oz of reserves, but 16 million oz of resources. The stock is pricey because they have zero debt, $200 million in...  more
10/21/2018
Analysis  
Updated: Vast Resources Plc
Vast Resources is small gold producer in Zimbabwe. Their Pickstone/Peerless project is producing about 15,000 oz (their 50% share) at $900 per oz cash costs. It's a large deposit (3.5 million oz, they own half) with expansion potential to increase...  more
10/21/2018
Analysis  
Updated: Golden Dawn Minerals Inc
Golden Dawn Minerals is a new company trying to bring past producing gold mines back in production. Lexington, Golden Crown, and May Mac, along with more than a dozen others in British Columbia. Historical production on the Greenwood property (30,000...  more
10/21/2018
Analysis  
Updated: Echo Resources Ltd.
Echo Resources is developing a gold project in Western Australia. Their Yandal property (400,000 acres) has a large open pit project with 1.7 million oz at 2 gpt. It has 10 known deposits with drilling targets. They have a permitted mill, which has...  more
10/21/2018
Analysis  
Updated: Medgold Resources Corp
Medgold Resources is a project generator focused in Europe. They have a 30/70 JV with Fortuna Silver in Serbia on their Tlamino project (75,000 acres). They had a recent discovery channel at surface that was 84 meters at 5.6 gpt gold and 105 gpt silver....  more
10/20/2018
Analysis  
Updated: Chesapeake Gold Corp.
Chesapeake Gold is project generator with a huge project in Mexico. Metates has 18 million oz of gold (1 gpt), 525 million oz of silver (15 gpt), and 4 billion lbs of zinc. With gold production potentially reaching 750,000 oz per year, this could be one...  more
10/20/2018
Analysis  
Updated: Lara Exploration Ltd
Lara Exploration is a good project generator. The only problem with this stock is that it is not precious metals focused. However, with a higher price of gold, I would expect this company to focus more on gold. Lara has shown the ability to create JV...  more
10/20/2018
Analysis  
Updated: Taseko Mines Ltd
Taseko Mines has a large advanced stage gold project (Prosperity) in British Columbia. However, in 2013, the Canadian government denied their environmental permit. Unless this ruling is overturned, this project will not get built. They were forecasting...  more
10/20/2018
Analysis  
Updated: RTG Mining Inc
RTG Mining is trying to develop a gold project in the Philippines. They planned to begin production in 2016 (stage 1), but the project has been on hold. The Mabilo gold deposit is 650,000 oz (1.5 gpt), with high grade copper offsets making it a low cost...  more
10/20/2018
Analysis  
Updated: Terrax Minerals Inc.
TerraX Minerals is a project generator with a large property in Canada (Northwest Territories). They are drilling three or four different discoveries on their large (200,000 acres) Yellowknife property. It has 450 historical drill holes with several high-  more
10/18/2018
Analysis  
Updated: METALLA ROYALTY
Metalla Royalty & Streaming (formerly Excalibur Resources) is a new royalty company. They are focusing on small deals from $2 to $10 million. They made their first deal for a 2% NSR in Peru (Minado), but it is capped at $1 million. Then they aggressively...  more
10/17/2018
Analysis  
Updated: Gold Road Resources Ltd
Gold Road Resources is a project generator focused in Western Australia. They recently made a JV deal with Gold Fields, who bought half of their Gruyere project for $282 million. It was a great deal for Gold Road, which could use that cash to fund their...  more
10/17/2018
Analysis  
Updated: Trevali Mining Corp
Trevali Mining is mostly a zinc producer, with about 85% of their revenue from zinc. They have producing mines in Peru (Santander), Canada (Caribou), West Africa (Perkoa), and South Africa (Rosh Pinah). I'm including them in the database because they...  more
10/16/2018
Analysis  
Updated: Pan African Resources Plc
Pan African Resources is a mid-tier gold producer in South Africa. They have large resources at 30 million oz (3.5 gpt) and are producing 170,000 oz with all-in costs (free cash flow) around $1250 per oz. They don't have a good balance sheet with about $1  more
10/14/2018
Analysis  
Updated: Agnico Eagle Mines Ltd
Agnico-Eagle Mines is a solid company with 20 million oz (2.5 gpt) of gold reserves and 50 million oz of gold resources. Growth will be steady, but nothing to get excited about. They could underperform in the major category because they are already...  more
10/14/2018
Analysis  
Updated: Franco Nevada Corp
Franco Nevada is a royalty company and a very good one. They're revenue is growing at a fast rate. They have 55 producing projects with an expected free cash flow around $150 million in 2018. They have an excellent pipeline of 35 advanced stage projects...  more
10/14/2018
Analysis  
Updated: Independence Group NL
Independence Group is mostly a base metals producer in Australia. They get cash flow from gold, nickel, zinc, and copper. They have two producing base metals mines, and a gold JV (Tropicana), where they receive 30% of production (150,000 oz in 2018)....  more
10/14/2018
Analysis  
Updated: Ausgold Ltd
Ausgold Ltd has an interesting exploration property in Western Australia. Katanning (500,000 acres with a 9-mile strike) is a 600,000 oz (1.2 gpt) resource likely to grow in size. They have 50+ more targets to drill and are very confident they will reach...  more
10/13/2018
Analysis  
Updated: ATAC Resources Ltd.
ATAC Resources is a project generator with a large project in the Yukon, Canada. The Rackla Gold property is a 115-mile narrow trend on 400,000 acres. They are drilling about 20 deposits and have had excellent drill results. So far it seems like every...  more
10/13/2018
Analysis  
Updated: Coeur Mining Inc
Coeur Mining has underperformed since 2006. They have to reach $70 per share just to get back to where the share price traded in 2006. However, they have been aggressive, purchasing Orko Silver, Paramount Gold, and a mine from Gold Corp. In 2018, they...  more
10/13/2018
Analysis  
Updated: Freegold Ventures Ltd
Freegold Ventures has a large gold project in Alaska. The Golden Summit project (3 million oz at .7 gpt) is in a good location, only 20 miles from Fairbanks and 5 miles from a large Kinross surface mine. In their company presentation they only list 3...  more
10/13/2018
Analysis  
Updated: Pretium Resources Inc
Pretium Resources has two large gold/silver projects in British Columbia, Canada (located in the Golden Triangle). They have 60 million oz of gold and 250 million oz of silver at their Brucejack and Snowfield properties. They have excellent production...  more
10/13/2018
Analysis  
Updated: Red Eagle Mining Corp
Red Eagle Mining is a gold producer in Colombia. I was very excited about this company when they released a PEA for their Santa Rosa project a few years ago. The capex was only $75 million to produce 70,000 oz per year. The costs were low ($600 cash...  more
10/13/2018
Analysis  
Updated: Golden Arrow Res Corp.
Golden Arrow Resources has a large silver project (Chinchilla) in Argentina. SSR Mining (previously Silver Standard) has optioned 75% of the project, and will begin production in 2018. Chinchilla is a 140 million oz resource (60 gpt) with a PEA to...  more
10/13/2018
Analysis  
Updated: Ariana Resources Plc
Ariana Resources is a new small gold producer in Turkey. They have a 51% ownership of the Red Rabbit project. Cash costs are projected to be about $650 per oz and the IRR is 38%. Production is 10,000 oz per year and only projected for 8 years. However,...  more
10/13/2018
Analysis  
Updated: Oceanus Resources Corp
Oceanus Resources is a project generator with a large low-grade silver/gold project in Mexico. The El Tigre silver project (50,000 acres) has 44 million oz at 75 gpt (including gold). It is getting close to a PEA and will likely become a mine. They have...  more
10/11/2018
Analysis  
Updated: New Pacific Metals Corp
New Pacific Metals is a new company. In 2017, they paid $45 million to acquire Alcira, which has a potential large silver mine in Bolivia (Silver Sand). They made a payment of $36 million and still owe $9 million. Silver Sand (750 acres) is still early...  more
10/11/2018
Analysis  
Updated: Algold Resources Ltd
Algold Resources is a new gold exploration company with a gold discovery in West Africa (Mauritania). They have a good management team and have had no trouble raising money, increasing their cash balance to about $5 million. Their Tijirit project (75,000...  more
10/10/2018
Analysis  
Updated: Galantas Gold Corp
Galantas Gold is building a small high grade underground mine in Ireland. It has a low capex ($11 million) because they already have a mill, which was recently used for open pit mining. The Cavanacaw / Omagh mine is 400,000 oz at 6 gpt. They will need to...  more
10/08/2018
Analysis  
Updated: Oz Minerals Ltd.
Oz Minerals is a large copper producer in Australia. For the first half of 2018, they had revenue of $400 million with a net profit of around $100 million. They expect to produce 250 million lbs of copper. I am including them in the database because they...  more
10/08/2018
General  
New SeekingAlpha: Top 2 Risk/Reward Mid-Tier Gold Producers
https://seekingalpha.com/article/4210537-top-2-risk-reward-mid-tier-gold-producers  more
10/07/2018
Analysis  
Updated: Sihayo Gold Ltd.
Sihayo Gold is trying to build their first mine in Indonesia. They have been in business a long time and have 20 projects. Their Pungkut deposit is 1.6 million oz (2 gpt) with a completed feasibility study. The capex is $158 million to produce 90,000 oz...  more
10/07/2018
Analysis  
Updated: Alkane Resources Ltd.
Alkane Resources is small Australian gold producer at 50,000 oz per year. They have a lot of experience and good management team. Their Tomingley mine has 400,000 oz and has a short mine life, planned to close in 2022. It is profitable, with $20 million...  more
10/07/2018
Analysis  
Updated: Red 5 Ltd.
Red 5 LTD is a new mid-tier producer in Australia. They plan to produce 100,000 oz in 2019 with all-in costs (free cash flow) around $1250 per oz. They have 1.6 million oz (3.8 gpt) at their Darlot and King of the Hills (KOTH) mines. Plus, both mines...  more
10/07/2018
Analysis  
Updated: Carbine Resources Ltd
Carbine Resources is advancing an open pit project (Mount Morgan) in Australia. Their DFS (definitive feasibility study) was completed in 2016. The capex is $70 million, with low cash costs of around $600 per oz. The low costs are from offsets of pyrite...  more
10/06/2018
Analysis  
Updated: ECR Minerals Plc
ECR Minerals has two early exploration gold projects in Australia that look interesting. They are located in the Victoria district that has produced 80 million oz of high-grade gold. Both Avoca (100,000 acres) and Bailieston (25,000 acres) have...  more
10/06/2018
Analysis  
Updated: Strategic Minerals Corp. NL
Strategic Minerals is drilling a gold discovery (Woolgar) in Australia. They have found 1.2 million oz at 2 gpt and will likely find more (120,000 acres). They have been drilling since 2014 and need a PEA. It's still early exploration and they will...  more
10/06/2018
Analysis  
Updated: Catalyst Metals Ltd
Catalyst Metals is a project generator focused in Australia. They have an exciting gold discovery (Four Eagles) with drill holes of 27 meters at 22 gpt, 22 meters at 31 gpt, 20 meters at 21 gpt. Their share price is at a 5 year high. They own 50% of the...  more
10/06/2018
Analysis  
Updated: Navarre Minerals Ltd.
Navarre Minerals is a project generator in Australia. They have two large early exploration gold projects. They are drilling Irvine, which has a 5-mile strike target. The property is on a 30-mile trend with three other deposits for them to explore:...  more
10/06/2018
Analysis  
Updated: Dgo Gold Ltd
DGO Gold is a project generator in Australia. They have 3 early exploration gold projects. None of them appear to be discoveries, although they do not have a company presentation, so I am not sure if they have past drill results. They claim to have 10...  more
10/06/2018
Analysis  
Added: Encounter Resources Ltd
Encounter Resources is a project generator focused in Western Australia. They have very large land holdings, including 5 JVs with Newcrest over more than 1 million acres. Newcrest has an option to obtain 80% of any project they are exploring. They also...  more
10/06/2018
Analysis  
Added: Luckystrike Resources Ltd
Luckystrike Resources is a new project generator. They were a spinout from Goldstrike Resources in 2018. They have 6 properties in the Yukon (White Gold district). Their Lucky Strike property (35,000 acres) is a potential mine with a discovery hole (22...  more
10/04/2018
Analysis  
Added: New Dimension Resources Ltd
New Dimension Resources is a project generator focused in Argentina and Canada. They have five early exploration properties. Las Calandria (6,000 acres), Los Cisnes (7,500 acres), and Sierra Blanca (10,000 acres) are in Argentina. Savant Lake (50,000...  more
10/03/2018
Analysis  
Added: Great Atlantic Resources Corp
Great Atlantic is a project generator focused in Canada. They have projects in Newfoundland and New Brunswick. All of them are early exploration and potential discoveries based on soil samples and some drilling. Currently they do not have anything...  more
10/03/2018
Analysis  
Added: Valor Resources Ltd
Valor Resources is an Australian stock with a large silver/copper/manganese project in Peru. They are working a pre-feasibility study that is due in 2019. I'm not sure why this stock is so cheap. The deposit has 125 million oz of silver (86 gpt), plus...  more
10/02/2018
Analysis  
Added: Cora Gold Ltd
Cora Gold is a project generator focused in West Africa. They have 3 early exploration projects in Mali. Sanonkoro (75,000 acres), Tagan-Tekeledougo (75,000 acres), and Diangounte (30,000 acres). They think they can find a large mine. They have been...  more
10/02/2018
Analysis  
Added: Decade Resources Ltd
Decade Resources is a project generator focused in Canada. They have 12 properties in the golden triangle area of British Columbia. All of their properties are early exploration and they do not have a discovery. Also, they are out of cash so expect share...  more
10/01/2018
Analysis  
Added: Sandy Lake Gold Inc
Sandy Lake Gold is a project generator focused in Canada. They have an option on their 100,000 acre Sandy Lake property in Ontario. They do not have a company presentation or much information on their website. My only understanding is that it is not a...  more
10/01/2018
General  
September 2018 Newsletter Posted
The September 2018 newsletter has just been posted.  more


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