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News from November 2018

11/29/2018
Analysis  
Updated: Nighthawk Gold Corp
Nighthawk Gold has a long life mine in Northern Canada (Northwest Territories). Their large property in the Indin Lake Gold Camp is on 220,000 acres. This camp has produced 16 million oz historically at 1.6 gpt. Production stopped in 1997, when they were...  more
11/29/2018
Analysis  
Updated: Silver Grail Resources Ltd.
Silver Grail is a project generator. They have been around for a long time, but have not made any progress. Looking at their properties, I would say this a very high risk speculation stock. However, with a tiny $1 million market cap, they have two gold...  more
11/28/2018
Analysis  
Updated: Nevada Exploration Inc
Nevada Exploration is an early project generator focused in Nevada. They have 5 properties (30,000 acres) and 3 JVs that are being drilled. Nevada Exploration is using a unique method of testing water samples to identify potential gold deposits. They are...  more
11/28/2018
Analysis  
Updated: Slam Exploration Ltd.
Slam Exploration is a project generator focused in Canada with large land holdings in Ontario and New Brunswick. They recently hit a narrow but high grade massive sulphide intercept in their Portage project (5,000 Ha): 12% zinc, 12% lead and 133 g/t...  more
11/27/2018
Analysis  
Updated: Riverside Resources Inc.
Riverside Resources is a project generator with a focus on gold exploration. They have a low market cap ($5 million fully diluted) and seem to be progressing as a company. They currently have 2 JVs, and will likely add more. I listened to an interview...  more
11/27/2018
Analysis  
Updated: Visible Gold Mines Inc
Visible Gold Mines has five early exploration projects in Quebec. They are a new company, with a good management team and a skilled geologist named Robert Sansfacon. In 2011, they drilled 40,000 meters and have spent $10 million on exploration with no...  more
11/26/2018
Analysis  
Updated: Westminster Resources Ltd.
Westminster Resources is a relatively new explorer. They recently acquired multiple copper projects in Peru while still holding their El Cobre, a 50,000 acres project characterized by high grade, gold-copper-silver veins. They were recommended by...  more
11/26/2018
Analysis  
Updated: Galway Gold Inc
Galway Gold is a project generator in Colombia. They were created from Galway Resources in 2012, when they were purchased by Aux Resources. They had a single project - the Vetas property. It was the past producing El Volcan mine. It had a 550,000 deposit...  more
11/25/2018
Analysis  
Updated: Levon Resources Ltd
Levon Resources has a huge potential silver mine in Mexico. The Cordero project has 500 million oz of silver (18 gpt), 9 billion lbs of zinc, 4 billion lbs of lead, and 1 million oz of gold. They released a PEA in March 2012, with a mine plan to produce...  more
11/25/2018
Analysis  
Updated: Mundoro Capital Inc.
Mundoro Capital is a new project generator focused in Eastern Europe. They have 8 properties in Serbia and Bulgaria. Their North and South Timok properties are optioned to JV partners (80% and 75%) who are drilling. All of their properties are early...  more
11/25/2018
Analysis  
Updated: Kingsmen Resources Ltd
Tumi Resources has one silver project in Mexico. They have some upside potential with a FD market cap of $1.2 million. However, they have not made much progress the last few years. They are exploring with a small budget. They are not drilling for more...  more
11/25/2018
Analysis  
Updated: Wesdome Gold Mines Ltd
Wesdome Gold Mines is a mid-tier producer in Canadian with an FD market cap of $397 million. They recently stumbled a bit in 2016 and 2017, with production decreasing from 96,000 to 55,000 oz. However, they had an excellent 2018, with production coming...  more
11/25/2018
Analysis  
Updated: Georgian Mining Corp
Georgia Mining (previously Noricum Gold) is trying to become a copper/gold producer in Georgia (Russian satellite country). They own 50% of the Bolnisi project which currently only has 2.2 million tons with .1 gpt gold (only about 10,000 oz). Long term,...  more
11/24/2018
Analysis  
Updated: Mcewen Mining Inc
McEwen Mining is a mid-tier gold and silver producer. In 2017, they will produce 100,000 oz of gold and 3 million oz of silver and (150,000 oz of gold equivalent). By 2020, they should be producing somewhere around 200,000 oz gold equivalent (including...  more
11/24/2018
Analysis  
Updated: Oroco Resource Corp.
Oroco Resources is another case study of why investing in gold mining stocks is so risky. They had an advanced project called Cerro Prieto that was on the verge of getting financed and developed into production. It was a 500,000 resource (M&I .7 gpt)...  more
11/24/2018
Analysis  
Updated: Yorbeau Resources
Yorbeau Resources is a project generator in Canada. They recently gave IAMGold a 100% option to purchase their Rouyn project for about $25 million, plus a 2% NSR. That will give them financing to explore their other projects. It is a 700,000 oz deposit (6  more
11/24/2018
Analysis  
Updated: Azure Minerals Ltd.
Azure Minerals is an Australian based exploration and development company focused in Mexico. They have a zinc/silver discovery (Oposura) that they are fast-tracking to production in 2021. They plan to release a PEA and pre-feasibility study in 2019. It's  more
11/24/2018
Analysis  
Updated: Gateway Mining
Gateway Mining is a project generator focused in Western Australia. They have several properties they are exploring. Their large Gidgee property (175,000 acres) has several discovered surface open pits that they are drilling. It looks like a mine in the...  more
11/23/2018
Analysis  
Updated: Millennium Minerals Ltd.
Millennium Minerals is a mid-tier producer in Australia. They have low resources at around 1.2 million oz. I have padded it to 1.5 million in my analysis because they drilled 200,000 meters in 2017 and have 30+ targets. They have excellent exploration...  more
11/23/2018
Analysis  
Updated: Fiore Gold
Fiore Gold is a small producer (40,000 oz) in Nevada. It is a new company that was formed by billionaire Frank Giustra merging Fiore Exploration with GRP Minerals in 2017. They have two projects (Pan and Goldstrike) in Nevada on 50,000 acres. They are...  more
11/23/2018
Analysis  
Added: Adriadic Metals
Adriadic Metals is a new mining company focused in Bosnia. They have 3 properties and are trying to develop their Rupice project. It has had some excellent drill results, including 34 meters at 13% zinc, 455 gpt AG, and 3 gpt AU. They plan to issue a...  more
11/23/2018
Analysis  
Added: Benchmark Metals Inc
Benchmark Metals is a new development company. They have a project (Lawyer) in the Golden Triangle (British Columbia) that they are developing. It's currently only 100,000 oz (4 gpt) but their target is 1 to 2 million oz. They plan to release an updated...  more
11/23/2018
Analysis  
Added: Bellevue Gold
Bellevue Gold is a project generator focused in Western Australia. They have a large high-grade discovery (Bellevue) and their share price has taken off. They have 1 million acres on 4 properties (Bellevue, south Yandal, Jundee North, and Fisher West)....  more
11/23/2018
Analysis  
Added: Argent Minerals
Argent Minerals is a project generator focuses in Australia. They have three projects. Their Kempfield project is becoming advanced. It is a low-grade silver/gold project (50 million oz at 45 gpt AG), but it has lead and zinc offsets. It will likely be...  more
11/23/2018
Analysis  
Added: Argent Minerals
Argent Minerals is trying to advance a low-grade silver project in Australia. Their Kempfield project is becoming advanced. It is a low-grade silver/gold project (40 million oz at 45 gpt AG), but it has lead and zinc offsets. It will likely be economic...  more
11/23/2018
Analysis  
Added: Rockfire Resources
Rockfire Resources is a London based exploration company. They have 3 projects in Australia and 1 in Papua New Guinea. Their Australian projects have had some drilling but no significant discovery yet. Most of their drill holes have been low grade. But...  more
11/22/2018
Analysis  
Added: Sailfish Royalty Corp
Sailfish Royalty is a new company. They only have 5 NSR properties, but one of them begins paying out in 2021 at about $3 million per year. At higher gold prices, it could double in value. They have zero debt but are out of cash, so expect dilution....  more
11/22/2018
Analysis  
Updated: Spitfire Materials Ltd
Spitfire Materials is an Australian gold mining company. They acquired Excelsior Gold on October 2nd. This gave them two advanced projects (Aphrodite and North Kalgoorlie) in Western Australia with 2 million oz. They plan to aggressively move both to...  more
11/22/2018
Analysis  
Updated: Westhaven Ventures Inc
Westhaven Ventures is a project generator in Canada. They recently had a major discovery (42 meters at 9 gpt AU, 65 gpt AG) at Shovelnose. The stock has blasted off. They have 84,000 acres not that far from Vancouver. It has highway and power access....  more
11/22/2018
Analysis  
Added: Auxico Resources
Auxico Resources has a hybrid model. They are planning to produce base metals (Coltan) in Colombia. They are planning to do toll milling in Colombia. And they are exploring for gold and silver in Mexico. It's a strange combination for a company that is...  more
11/22/2018
Analysis  
Added: Goldplay Exploration
Goldplay Exploration is a new company. They have 4 early exploration projects in Mexico. They are focusing on San Marcial (3,000 acres) that has a historic resource of 30 million oz's (AGEQ). They think it can double in size. They have some cash for...  more
11/22/2018
Analysis  
Added: American Pacific Mining
American Pacific Mining is a new exploration company. They have 3 small projects in Nevada. They are focusing on Tuscarora, which is a potential high-grade discovery. They quite a few historic drill holes, but they are all narrow veins. It's a possible...  more
11/22/2018
Analysis  
Added: Sunstone Metals
Sunstone Metals is an Australian-based project generator with gold projects in Ecuador and Finland. Both projects are early exploration. I think investors are excited about Bramaderos in Ecuador (7,500 acres). It appears to be a high-grade discovery....  more
11/22/2018
Analysis  
Added: Gateway Mining
Gateway Mining is a project generator focused in Western Australia. They have several properties they are exploring. Their large Gidgee property (175,000 acres) has several discovered surface open pits that they are drilling. It looks like a mine in the...  more
11/21/2018
Analysis  
Updated: Austral Gold Ltd.
Austral Gold is a gold producer in Chile (Casposo) and Argentina (Guanaco and Amancaya). They currently produce about 80,000 oz of gold equivalent (including silver), with plans to increase that to 100,000 oz in the near term. Currently their costs are...  more
11/20/2018
Analysis  
Updated: Hochschild Mining Plc
Hochschild Mining is a large silver/gold producer in South America. They will produce 38 million of silver equivalent (including gold) in 2018. All-in costs per oz are about $13.50 (silver equivalent, including gold). They currently have 4 operating...  more
11/19/2018
Analysis  
Updated: Loncor Resources Inc
Loncor Resources is a new exploration company with 3.5 million acres in the DRC (Democratic Republic of Congo). When I looked at them in 2012, they had a FD market cap of $113 million. I thought that was bit pricey for a company without any resources....  more
11/18/2018
Analysis  
Updated: Goldgroup Mining Inc
Goldgroup Mining is a small producer in Mexico. They had to sell their flagship Cabello Blanco project in 2014 because of financing issues. Now they are left with two small projects. Cerro Prieto is low-grade open pit project. They began mining in 2015...  more
11/17/2018
Analysis  
Updated: Atlantic Gold Corp
Atlantic Gold is a mid-tier gold producer in Canada (Nova Scotia). They have four surface projects next to each other that have a combined 2 million oz (their share) at 1.5 gpt. They have an experienced team and should be able to grow. They began...  more
11/17/2018
Analysis  
Updated: Nicola Mining Inc
Nicola Mining (formerly Huldra Silver) was a small producer in Canada. They have a high grade (10 opt) deposit (Treasure Mountain) that could be a low cost mine (because of zinc and lead offsets). They started at 600,000 oz and could have been able to...  more
11/17/2018
Analysis  
Updated: Lion One Metals Ltd
Lion One Metals has an advanced high grade project in Fiji called Tuvatu (90,000 acres). It is a 800,000 oz (6 gpt) deposit that is fully permitted and financed ($40 million bank loan). The capex is $48 million with an after-tax IRR over 50% at $1300...  more
11/17/2018
Analysis  
Updated: Roxgold Inc
Roxgold Inc. is a new mid-tier producer in Burkina Faso. Yaramoko is a million oz deposit with an avg grade around 12 gpt. Production will reach 120,000 oz in 2018 with cash costs at $500 per oz. It has a 10 year mine life, but has already been producing...  more
11/17/2018
Analysis  
Updated: Spanish Mountain Gold Ltd
Spanish Mountain has a large (7 million oz at .45 gpt) open pit gold project in Canada (British Columbia). They recently updated their PEA, which reduced the capex to $400 million, decreased cash costs to $700 per oz ($550 for the first 10 years), and...  more
11/17/2018
Analysis  
Updated: Tinka Resources Ltd.
Tinka Resources is a project generator with two significant projects in Peru. Their Ayawilca zinc/tin/silver project (35,000 acres) already has 2.5 billion lbs of zinc and is growing in size. They are currently cashed up and drilling aggressively and...  more
11/17/2018
Analysis  
Updated: Dolly Varden Silver Corp
Dolly Varden Silver is project generator in Canada. They have one exploration project. Their 22,000 acre Dolly Varden property in northern British Columbia has 4 past producing mines. These mines produced 20 million oz at 10 to 30 opt in the 1920s and...  more
11/15/2018
Analysis  
Updated: Horizon Gold Ltd
Horizon Gold is a new company (spin out from Panoramic Resources) in Australia. They have a 1.2 million oz (2 gpt) open pit project (Gum Creek) that looks excellent. The FD market cap is only $11 million, which is really cheap for their potential. They...  more
11/14/2018
Analysis  
Updated: Asanko Gold Inc
Asanko Gold (formerly Keegan Resources) is a new mid-tier producer in West Africa (Ghana). Their 1.7 million oz Nkran open pit project is producing 220,000 oz at around $800 per oz cash costs. They lost money last quarter, will all-in costs around $1300....  more
11/14/2018
Analysis  
Updated: Blackham Resources Ltd
Blackham Resources is a gold producer in Australia. They are producing 80,000 oz with all-in costs around $1200 per oz. They have large resources around 6 million oz and have plans to expand production to 200,000 oz annually. The capex for the expansion...  more
11/12/2018
Analysis  
Updated: Telson Mining
Telson Mining (formerly Telson Resources) is a zinc/gold/silver producer in Mexico. They acquired Campo Morado in 2017, which has a 2.2 million oz deposit (including silver). Production is at 35,000 oz (1.3 gpt) a year. Cash costs are unknown since they...  more
11/11/2018
Analysis  
Updated: Aton Resources Inc
Aton Resources (formerly Alexander Nubia International) has several early exploration projects in Egypt. They are a Canadian company with 175,000 acres of claims (24 mile trend with 14 target areas). They have a drill plan to do extensive drilling on two...  more
11/11/2018
Analysis  
Updated: Caledonia Mining Corp. Plc
Caledonia Mining is a small producer in Zimbabwe, Africa. Production is 50,000 oz and they get 64%. All-in costs (free cash flow) are about $1000 per oz. They have cash flow, $10 million in cash, and no debt. Plus, they have 18 properties to explore (200,  more
11/11/2018
Analysis  
Updated: Excellon Resources Inc.
Excellon Resources is an emerging mid-tier silver producer in Mexico. They are producing about 2 million oz of silver equivalent (including base metals) with all-in costs around $20 per oz. That's not good, but they recently spent $10 million to double...  more
11/11/2018
Analysis  
Updated: Santa Fe Gold Corp.
Santa Fe Gold was a small producer in New Mexico (Summit mine), but they had to stop production due to low gold prices. Their website is lacking information and the declared bankruptcy in 2017 and lost all of their assets. I've tried to read their...  more
11/11/2018
Analysis  
Updated: Rockcliff Metals Corp
Rockcliff Metals (previously Rockcliff Copper and Solvista Gold) is a project generator focused in Manitoba, with 100,000 acres. They have both gold and base metals (copper and zinc) projects. They have 4 high-grade early exploration projects: Laguna,...  more
11/10/2018
Analysis  
Updated: QMX Gold Corp
QMX Gold (formerly Alexis Minerals) was a small producer in Quebec, Canada in 2016. They had to stop production at Lac Herbin due to high costs. In 2015, they sold their flagship Snow Lake project to Hudbay for $12 million. Today they are focusing on...  more
11/10/2018
Analysis  
Updated: Black Dragon Gold Corp
Black Dragon Gold (formerly Astur Resources) is a case study on the high risk of gold mining stocks. They had an economic project (Salave in Spain) and then their environmental mining permit was denied. The stock crashed from 47 cents to 1 cent. Now it...  more
11/10/2018
Analysis  
Updated: SSR Mining Inc
SSR Mining (previously Silver Standard Resources) has become mostly a gold mining company. They purchased the Marigold mine in 2013 from Barrick Gold in Nevada. This was a good deal for SSRI. This will give them 200,000 oz of gold production for 20 years.  more
11/10/2018
Analysis  
Updated: Aben Resources Ltd
Aben Resources is an early project generator in Canada. The CEO has had success before, selling his last two companies. They have four gold projects and all are early exploration. In 2016, they obtained the Forrest Kerr (23,000 acres) property in the...  more
11/10/2018
Analysis  
Updated: Mexican Gold Corp
Mexican Gold (previously Source Exploration) has an interesting property in Mexico called Las Minas. It is on 4,000 acres and they have discovered 6 mineralized zones while drilling 14,000 meters. They think it could be a large mine. Early drill results...  more
11/10/2018
Analysis  
Updated: Manas Resources Ltd.
Manas Resources is an Australian gold exploration company. They recently sold a project for $8 million and are cashed up. They are now exploring 3 large properties in Cote d'Ivorie. Mbenge (100,000 acres), Eburnea (80,000 acres), and Gonsan (250,000...  more
11/10/2018
Analysis  
Updated: Kore Mining
Kore Mining (formerly Eureka Resources) is trying to develop 3 open pit mines, with a combined 5 million oz (.6 gpt). Investors are not interested, giving it a tiny $14 million FD valuation. The CEO is a CPA and has never built a mine. It appears that...  more
11/09/2018
Analysis  
Updated: Tristar Gold Inc.
TriStar Gold has a potential large open pit project (CDS) in Brazil. It is on 70,000 acres and they think it has a 10-mile trend of mineralization. CDS is up to 2 million oz (1 gpt). It is mostly inferred, but is still early drilling. They have about $1.5  more
11/07/2018
Analysis  
Updated: Cassini Resources Ltd
Cassini Resources is a project generator focused in Australia. They have an advanced base metals project (West Musgrave) that has nickel and copper. It is a 30% JV. They also have an exciting gold exploration project (Mt Squires). It is a 30-mile trend (5  more
11/05/2018
Analysis  
Updated: Osisko Gold Royalties Ltd
Osisko Gold Royalties is focused mostly on gold royalties. They have about 20 producing royalties at about 80,000 oz per year. But they are growing and expect to reach 180,000 oz by 2023. Plus, they have 137 assets that should lead to more growth. Plus,...  more
11/05/2018
Interview  
New Podcast: www.miningstockeducation.com
http://www.miningstockeducation.com/2018/11/don-durrett-breaking-through-1375-oz-gold-will-signal-the-return-of-the-gold-bull-market/  more
11/04/2018
Analysis  
Updated: Palamina Corp.
Palamina Corp is a new project generator. They are focusing on Peru, with 5 early exploration projects (180,000 acres). They also have 3 projects in Mexico. It appears that there has been very little drilling on their properties. This is the same...  more
11/04/2018
Analysis  
Updated: Contango Ore Inc
Contango Ore has a high-grade surface discovery (Tetlin) in Alaska. Drill results have been very good. One drill hole was 38 meters at 51 gpt, another was 58 meters at 14 gpt (both from near surface). They have already found 1.3 million oz of high-grade...  more
11/04/2018
Analysis  
Updated: Guyana Goldstrike Inc
Guyana Goldstrike is a project generator with a gold property in Guyana. Marudi (12,000 acres) has a 450,000 oz (2.5 gpt) deposit, and they are targeting 1 to 2 million oz. They do not have a company presentation and they appear to be making slow...  more
11/04/2018
Analysis  
Updated: VR Resources Ltd
VR Resources is a project generator focused in Nevada. They have 5 early exploration gold projects. They are drilling Bonita (8,000 acres), which is their largest project. All of the others are fairly small, ranging from 300 acres to 600 acres. They do...  more
11/04/2018
Analysis  
Updated: AEX Gold
AEX Gold is an exploration company focused in Greenland. Nalunaq (5,000 acres) is a potential mine with 250,000 oz at 18 gpt. It was a past producing mine from 2004 to 2009, producing 350,000 oz. It seems to be their focus. They also have two other...  more
11/04/2018
Analysis  
Updated: Noble Mineral Exploration Inc
Noble Mineral Exploration is a project generator focused in Canada. They have two projects in Ontario. Project 81 (175,000 acres) is a potential nickel, gold discovery. They have 9 drill ready targets and a total of 500 targets to explore. It could be an...  more
11/03/2018
Analysis  
Updated: Aquila Resources Inc
Aquila Resources is developing a gold project in Michigan. Back Forty is a 1 million oz resource (2 gpt), along with: Silver: 12 million oz (sold as part of a streaming deal). Zinc: 1 billion lbs Copper: 110 million lbs Lead: 74 million lbs...  more
11/03/2018
Analysis  
Updated: Emx Royalty Corp
EMX Royalty Corp (formerly Eurasian Minerals) is a global project generator with 40 projects (about 10 JVs) in about 10 countries. With an FD market cap of $119 million and low cash flow, the upside is somewhat constrained without any large near-term...  more
11/03/2018
Analysis  
Updated: TMAC Resources Inc.
TMAC Resources is a new mid-tier gold producer in Canada. Their Hope Bay project (400,000 acres) is a 6 million oz resource (8 gpt) that is highly economic (40% after-tax IRR). Production began in 2017. They have about $120 million in debt, but that...  more
11/03/2018
Analysis  
Updated: Trilogy Metals Inc
Trilogy Metals (formerly Novacopper) has two large copper projects in Alaska. In 2017, they made a 50/50 JV deal with South32 Ltd for both projects. South32 has to spend $10 million annually the next 3 years, and then pay Trilogy another $150 million to...  more
11/03/2018
Analysis  
Updated: Great Bear Resources Ltd
Great Bear Resources is a project generator focused in Canada. They are one of the rare success stories for a small exploration company. In 2016, their share price was at 4 cents. All they had were two early exploration gold projects in Canada with very...  more
11/03/2018
Analysis  
Updated: Eskay Mining Corp.
Eskay Mining has 130,000 acres next to the large Seabridge Gold Kerr project in the Golden Triangle (British Columbia, Canada). They recently made a JV deal on a portion of the property (SIB / 12,000 acres) with SSR Mining, who has to spend $12 million...  more
11/03/2018
Analysis  
Updated: Ely Gold Royalties
Ely Gold Royalties (previously Ely Gold and Minerals) has about 25 exploration properties for sale and 25 royalties in Nevada. The royalties are .5% to 3% NSR deals on small projects. They do not have any JV deals or are exploring. They are focusing on...  more
11/03/2018
Analysis  
Updated: Romios Gold Resources Inc
Romios Gold has a large property (180,000 acres) in the Golden Triangle near Novagold's large Galore Creek copper project. They are drilling two projects (Newmont Lake and Trek) and have had some success. They have discovered copper, gold, and silver. It...  more
11/03/2018
Analysis  
Updated: Greatland Gold Plc
Greatland Gold is a London based stock with 6 exploration properties in Australia. Both their Ernest Giles (65,000 acres) and Paterson (80,000 acres) properties are large, but have had very little exploration. They both have had a few drill holes and...  more
11/02/2018
General  
October 2018 Newsletter Posted
The October 2018 newsletter has just been posted.  more
11/01/2018
Analysis  
Updated: Monarques Gold Corp
Monarques Gold is developing a large open pit project in Quebec. They acquired the Wasamac open pit project (2.5 million oz at 2.7 gpt) from Alamos Gold. They paid with 36 million shares. Investors seem to have ignored the acquisition, giving them an FD...  more


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