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News from December 2018

12/15/2018
Analysis  
Updated: Acacia Mining Plc
Acacia Mining (formerly African Barrick Gold) is a mid-tier producer with 450,000 oz of production in East Africa (Tanzania). They have 2 producing mines with 27 million oz (4 gpt) of gold resources. Their all-in costs are around $1000 per oz, providing...  more
12/15/2018
Analysis  
Updated: Comstock Mining Inc
Comstock Mining was a small gold producer in Nevada. They halted production in 2016 because of high costs. Since then their share price has crashed and they also did a reverse split, which further hurt shareholders. Comstock is another in a long list of...  more
12/15/2018
Analysis  
Updated: Goldcorp Inc.
GoldCorp is growing and plans to increase gold production from 2 million oz in 2018, to 3 million oz by 2021. Until recently, they had low cash costs. In the last quarter, their cash costs were $850 and they lost money. In addition to these high costs,...  more
12/15/2018
Analysis  
Updated: Highland Gold Mining Ltd
Highland Gold Mining is a mid-tier producer in Russia. They have 3 producing mines and 3 more under development. With a market cap of $688 million, they are not cheap, but a possible 5 bagger long term. The will produce about 250,000 oz in 2018 and have...  more
12/15/2018
Analysis  
Updated: Equinox Gold
Equinox Gold was formed in 2017 from a merger between Trek Mining, NewCastle Gold, and Anfield Gold. They have 11 million oz of gold and have a goal of producing 600,000 oz annually. They are producing 135,000 oz (Mesquite in California), which will...  more
12/14/2018
Analysis  
Updated: Garibaldi Resources Corp.
Garibaldi Resources is a project generator. In 2017, they had a major discovery in the Golden Triangle of British Columbia at their E&L property. Their share price exploded from 8 cents to $3.70. Today it is back to .85 cents. The discovery is near the...  more
12/13/2018
Analysis  
Updated: Ximen Mining Corp
Ximen Mining has an early exploration project (Brett) in British Colombia. They have a good management team that is good at marketing their company. The stock surged in early 2014, but has subsequently crashed as they ran out of cash. This company...  more
12/12/2018
Analysis  
Updated: Mandalay Resources Corp.
Mandalay Resources is a mid-tier gold producer in Australia, and Sweden. They will produce around 80,000 oz in 2018, with all-in costs around $1500 per oz. These high costs, including cash costs around $1,000 per oz at both mines, caused their share...  more
12/12/2018
Analysis  
Updated: Troymet Exploration Corp.
Troymet Exploration has two early exploration projects. Redhill in a copper/gold project while Golden Eagle has high grade gold, both of them in British Columbia . They also have 1% NSR on a project they sold to New Gold (they had 2%, but they sold 1%...  more
12/12/2018
Analysis  
Updated: Makena Resources
The company sold many of its assets and it is currently looking to raise cash as quick as possible in order to fulfill its near term obligations, which are estimated at about C$1,000,000. They could raise funds by selling their Moosehead project which...  more
12/10/2018
Analysis  
Updated: Chibougamau Independent Mines Inc
Chibougamau Independent Mines has a large (23,000 acres) gold/copper exploration property in Quebec. It has 8 past producing gold/copper mines and a 3,000 tpd mill. The best thing about it is the location. Also, it has significant exploration potential....  more
12/10/2018
Analysis  
Updated: Doubleview Capital Corp
Doubleview Capital has a copper/gold discovery (Hat) in British Columbia. It's early exploration, but it looks like a small mine. Their goal is to produce a resource estimate and then a PEA. They also have an early exploration silver project (Metropolitan  more
12/10/2018
General  
New SeekingAlpha: Victoria Gold: Near-Term Producer in Canada
https://seekingalpha.com/article/4227516-victoria-gold-near-term-producer-canada  more
12/09/2018
Analysis  
Updated: Balmoral Resources Ltd
Balmoral Resources had a lot of investor interest in 2014. Their market cap exploded from $38 million to $128 million from solid drill results. Now it has crashed to $17 million. They own an 82-kilometer trend in a high-grade gold bearing zone (175,000...  more
12/09/2018
Analysis  
Updated: Centamin Plc
Centamin Plc is a mid-tier producer in Egypt. They have a 50/50 JV with an Egyptian government agency for their large Sukari mine. They have a $1.5 billion FD market cap, so it isn’t a cheap stock. Sukari has a large resource of 13 million oz M&I. They...  more
12/09/2018
Analysis  
Updated: Solitario Zinc Corp
Solitario Zinc Corp. sold their flagship Mt Hamilton project in 2015 for $24 million. They are left with cash and a small pipeline of 3 properties. One is a large zinc project (Floriday Canyon) in Peru that is close to a pre-feasibility study (they are...  more
12/09/2018
Analysis  
Updated: Sibanye-Stillwater
Sibanye Stillwater (previously Sibanye Gold) is a new emerging major in South Africa that was created by Gold Fields. It encompasses three producing underground gold mines that have 77 million oz in resources. They will produce 1.2 million oz in 2018....  more
12/09/2018
Analysis  
Updated: Apex Resources Inc
Apex Resources has five early stage exploration properties in the Yukon and British Columbia. Their main focus is the Mount Anderson project in which they have recently completed an IP survey with positive results, as well as good values in their rock...  more
12/09/2018
Analysis  
Updated: San Marco Resources Inc.
San Marco Resources is a project generator focused in Mexico. They have four early exploration projects. Chunibas (1,200 acres) is a 30% JV. Their JV partner is drilling. Oregano (175,000 acres) is still early exploration. 1068 (4,500 acres) is early...  more
12/08/2018
Analysis  
Updated: Alamos Gold Inc
Alamos Gold is a large producer that has been on a mission to become a major. They have acquired 4 companies in the past 5 years (including Aurico Gold and Carlisle Goldfields in 2015, plus Richmont Mines in 2017). They now have 23 million oz in...  more
12/08/2018
Analysis  
Updated: Canasil Resources Inc.
Canasil Resources is a project generator in Canada and Mexico. It was undervalued in 2015 with a $3 million FD market cap. Then the share price took off from drill results at their Sandra-Escobar JV project in Mexico and reached $20 million. Now it is...  more
12/08/2018
Analysis  
Updated: Columbus Gold
Columbus Gold is a project generator. They own 45% of the Montagne deposit in French Guyana (South America). It is a 5 million oz surface deposit at 1.4 gpt with exploration potential to increase in size. Their JV partner (Nordgold) has $1 billion in...  more
12/08/2018
Analysis  
Updated: Southern Silver Exploration Corp
Southern Silver Exploration is a project generator with a large silver/zinc discovery in Mexico. Cerro Las Minitas is a JV and they have a 40% interest. The deposit increased quickly in size. It went from a small deposit to 200 million oz silver...  more
12/08/2018
Analysis  
Updated: Toachi Mining Inc
Toachi Mining has a small high grade gold project (La Plata). They have a 75% option. It is still early exploration with 2 million tons at 4 gpt (250,000 oz). However, they have 14 targets on a 5-mile strike. This could be a much larger mine than 2...  more
12/06/2018
Analysis  
Updated: Connemara Mining Company Plc
Connemara Mining is a small project generator with two gold projects in Ireland. Inishowen is believed to have similar geology to Dalradian's Curraghinalt Project (high grade veins), but first drill results back in 2017 returned only few short and...  more
12/06/2018
Analysis  
Updated: Engold Mines Ltd
Engold Mines has a gold/silver/copper and a copper/gold/silver discovery in British Columbia. The La Hache property (45,000 acres) has had significant drilling and several holes with gold: 26 meters at 7 gpt, 12 meters at 4.5 gpt, and 172 meters at .8...  more
12/05/2018
Analysis  
Updated: Patriot Gold Corp.
Patriot Gold is a small project generator focused in Nevada. They have a 3% NSR for an open pit project (Moss) in Nevada. It is a 700,000 oz resource with cash costs at $500 per oz. Thus, it is economic. The capex is only $27 million, some of which has...  more
12/05/2018
Analysis  
Updated: Vior Inc.
Vior Inc (Societe D Exploration Mineire Vior) is a project generator in Quebec, Canada. This is a high risk speculation explorer, but they are in a good location. One of their projects (Vezza) is a high grade discovery with 300,000 oz at 6 gpt. They have...  more
12/04/2018
Analysis  
Updated: Sanatana Resources Inc
Sanatana Resources is a project generator based in Canada. They have two early exploration projects. Jackfish in Ontario is on 17,000 acres and has never been drilled. Tirua in Papua New Guinea is on 17,000 acres and is a recent acquisition. It has had...  more
12/04/2018
Analysis  
Updated: Walker River Resources Corp
Walker River Resources is attempting to become a small gold producer in Nevada. Their Lapon Canyon (800 acres) project is a past producing high-grade gold mine. They began drilling in 2015 and have had several good drill holes (23 meters at 7.8 gpt, 18...  more
12/03/2018
Analysis  
Updated: Everton Resources Inc
Everton Resources is a project generator with several properties with potential (10 projects in the Dominican Republic and Canada). They have a FD market cap of only $2.5 million. They have 2 JVs on their Opinaca project, one of them with Hecla Mining on...  more
12/02/2018
Analysis  
Updated: Typhoon Exploration Inc
Typhoon Exploration is a gold exploration company that began in 2003. They have 7 properties in Southern Quebec in the Abitibi gold belt, All are early exploration. They recently signed a letter of intent to acquire additional 50% in the Fayolle property...  more
12/02/2018
Analysis  
Updated: Yamana Gold Inc.
Yamana Gold is an emerging major with production of 950,000 oz of gold, 10 million oz of silver, and 125 million lbs of copper projected for 2019. They are also in solid locations of Canada, Brazil, Chile, and Argentina. Their balance sheet is a red flag,  more
12/02/2018
Analysis  
Updated: Cardinal Resources Ltd
Cardinal Resources is an Australian company that is advancing a large gold discovery in Ghana. Their Namdini project has 7 million oz (1.2 gpt) that is open in all directions. They released a PEA in 2018. They can begin production at 160,000 oz for a...  more
12/02/2018
Analysis  
Updated: Irving Resources Inc
Irving Resources is a new company that was recently formed in 2015 to explore Japan. They have 33,000 acres on Hokkaido island. Investors like their chances, bidding up the FD market cap to $70 million. It seems pricey to me. They haven't even started...  more
12/01/2018
Analysis  
Updated: Orca Gold Inc
Orca Gold arose out of Canaco Resources a couple of years ago. Their Block 14 property (900,000 acres) in Sudan (East Africa) is 3.3 million oz at 1.8 gpt. They have 70% ownership. They have $8 million in cash and no debt. It appears they are fast...  more
12/01/2018
Analysis  
Updated: West Red Lake Gold Mines Inc
West Red Lake Gold Mines has three properties (7,500 acres) in a good location: the Red Lake district in Ontario, Canada. It is next door to Rubicon Minerals. They are drilling 3 projects on their Red Lake property: Mount Jamie, Rowan Lake, and Red...  more
12/01/2018
Analysis  
Updated: Triumph Gold Corp
Triumph Gold (formerly Northern Freegold) is project generator in the Yukon. They have drilled about 3% of their flagship Freegold Mountain project (Yukon, Canada) and already have a 2.4 million oz resource (75% recovery) at .5 gpt (along with 10 million...  more
12/01/2018
Analysis  
Updated: Wheaton Precious Metals Corp
Wheaton Precious Metals (previously) Silver Wheaton) is a large gold/silver royalty company. Gold is 49% of revenue. Silver is 46% of revenue. They have 20 producing silver and gold royalty properties with 8 projects in development. Their attributable...  more
12/01/2018
Analysis  
Updated: Radisson Mining
Radisson Mining has a small high-grade gold project in Quebec. Their O'Brien project has 400,000 oz (5 gpt) and likely will increase in size. They have an uneconomic PEA with an IRR of 5% at $1450 gold. That is terrible, but I think this project will get...  more
12/01/2018
General  
November 2018 Newsletter Posted
The November 2018 newsletter has just been posted.  more


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