News from January 2019

01/28/2019

General

New SeekingAlpha: 10 More Producers

https://seekingalpha.com/article/4236104-10-gold-silver-producers-2019?source=all_articles_title more

01/28/2019

Analysis

Updated: Golden Minerals Co

Golden Minerals is one of the few pure silver mining companies. They were doing great in 2011 with a share price high of $28. They had 50 properties on 800,000 acres, including two flagship projects. Velardena in Mexico and El Quevar in Argentina.... more

01/27/2019

Analysis

Updated: Asante Gold Corp

Asante Gold is a new company focused in Ghana, West Africa. After drilling 1,800 on the Keyhole project and receiving high grade but very narrow results, the decided to focus mainly on their 50% JV in the Kubi project. It is a 350,000 oz (5 gpt) deposit... more

01/27/2019

Analysis

Updated: DELETE - Guyana Goldfields Inc.

Guyana Goldfields is a mid-tier producer in Guyana, South America. They had been performing very well and their FD market cap reached $740 million in 2018. They have a 7 million oz property in Guyana. Production at their open pits (2 million oz) was... more

01/27/2019

Analysis

Updated: Baru Gold Corp

East Asia Minerals is an exploration company focused in Indonesia. Currently they are waiting for an environmental decision on their 70% owned sangihe project, which has 300,000 oz in the Indicated & inferred categories, about 1/3 of them are oxide.... more

01/26/2019

Analysis

Updated: MAG Silver Corp

Mag Silver has an excellent silver project in Mexico. Their Juanicipio project is a JV with Fresnillo and they have a 44% interest. Production should begin in 2020 and it has a 19-year mine life (likely to be increased). Mag's share will be about 5... more

01/26/2019

Analysis

Updated: Star Gold Corp

Star Gold Corp has a small gold project in Nevada that could get built. It's only a 100,000 oz resource, but the all-in costs make it economic at $1200 gold. The capex is only $25 million and the after-tax IRR is 25% at $1300 gold. The problem is... more

01/26/2019

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

01/26/2019

Analysis

Updated: Fortuna Silver Mines Inc

Fortuna Silver is a mid-tier producer in Mexico, Peru, and Argentina. They producer silver, gold, and base metals. In fact, the have 1 mine for each. San Jose in Mexico is a silver mine (8 million oz), Caylloma in Peru is a base metals mine (mostly zinc... more

01/24/2019

Analysis

Updated: Volcanic Gold Mines Inc

Volcanic Gold Mines (formerly Volcanic Metals) is an exploration company focused in West Africa. They had a 75% ownership in a quality project (Mandiana) in Guinea with 600,000 oz (1.1 gpt), but regulations and political difficulties caused them to lose... more

01/24/2019

Analysis

Updated: Ora Gold Ltd

Thundelarra is an exploration company in Australia. They have a new gold discovery (Garden Gully) that looks interesting (7 meters at 24 gpt, 80 meters at 1.9 gpt). They also have two early exploration gold projects (Red Dragon and Red Bore). They... more

01/24/2019

Analysis

Updated: Capricorn Metals Ltd

Capricorn Metals (formerly Malagasy Minerals) is advancing an open pit gold mine (Karlawinda) in Western Australia. It is a very aggressive company. They think they can begin Production 2019. If they pull it off that would be impressive. They just bought... more

01/23/2019

Analysis

Updated: Mclaren Resources

McLaren Resources has 3 early exploration gold projects in Ontario. One of their properties is on trend to a large Goldcorp mine. This is likely the reason for their $5 million FD market cap. Their three projects (Blue Quartz, TimGinn, and Augdome)... more

01/21/2019

Analysis

Updated: Sierra Metals Inc

Sierra Metals is mostly a base metals producer in Mexico and Peru. They are currently producing about 5 million oz of silver equivalent, but only 14% of revenue is from silver and gold. They do have potential to increase silver production to about 2 to 3... more

01/21/2019

Analysis

Updated: Antioquia Gold Inc

Antioquia Gold is building a small gold mine in Colombia. Construction is 95% completed, with ramp up starting in Q1 2019 to 30,000 oz. It is projected to mine 150,000 oz over 5 years. I don't know how they were able to raise $60 million in debt for such... more

01/21/2019

Analysis

Updated: Lake Victoria Gold

Tembo Gold is a new company with a project (25,000 acre Tembo property) in Tanzania. They were drilling in 2014, but then ran out of money. They did not have any news releases in 2017 and very few in 2018, but their stock is still trading. They are out... more

01/20/2019

Analysis

Updated: DELETE - Lka Gold Inc

LKA Gold has a single small project (Golden Warrior) in Colorado. It is a permitted past producing mine (from 1998 to 2006 - 130,000 oz at 16 opt). They had a 35% JV with Kinross which decided to terminate its exploration program and revert it back to... more

01/20/2019

Analysis

Updated: West African Resources Ltd

West African Resources is advancing a large gold project in West Africa. They have six potential open pit mines with 2.3 million oz (1.2 gpt) and another 500,000 oz of high-grade gold underground. Plus, they have more than 1 million contiguous acres in... more

01/20/2019

Analysis

Updated: West African Resources Ltd

West African Resources is advancing a large gold project in West Africa. They have more than 1 million contiguous acres in Burkina Faso. Plus, they have six potential open pit mines with 2.3 million oz (1.2 gpt), plus another 500,000 oz of high-grade... more

01/20/2019

Analysis

Updated: Nord Precious Metals Mining

Canada Cobalt (formerly Castle Silver Resources) has two past producing silver mines (Castle Silver and Beaver). The Castle Silver mine produced 20 million oz of silver at 25 opt, plus a significant amount of cobalt. Production stopped in 1989 for lack... more

01/20/2019

Analysis

Updated: Dynacor Gold Mines Inc

Dynacor Gold Mines uses a unique business model. They use cash flow from a mill (about $5 million expected in 2019) to finance exploration. They have three early exploration properties in Peru that they are just beginning to drill. It will take a few... more

01/19/2019

Analysis

Updated: Teuton Resources Corp

Teuton Resources is a project generator in Canada (British Columbia). They have been around for a long time (1982) and have 25 projects (about 6 JVs). However, they do not have any advanced stage projects. Investors seem to like it and bid up their FD... more

01/19/2019

Analysis

Updated: DELETE - Azumah Resources Ltd.

Azumah resources has a large gold project in West Africa (Ghana), although they only own 50%. They have 10+ deposits (WA Project) with 2.5 million oz at 1.5 gpt, plus 600,000 acres to explore. They recently completed a final feasibility study to produce... more

01/19/2019

Analysis

Updated: Viscount Mining Corp

Viscount Mining is a new project generator. They have two early exploration silver projects. They are currently drilling Silver Cliff (5,000 acres) in Colorado. Early drill results have been promising (34 meters at 90 gpt, 12 meters at 300 gpt), but not... more

01/18/2019

Analysis

Updated: Ivanhoe Mines Ltd

Ivanhoe Mines has two huge projects. They are not really a gold or silver miner, but their Platreef PGM project in South Africa has 7 million oz (.25 gpt) of gold. Incredibly, that is only 7% of scheduled production. 90% of production (1 million oz a... more

01/17/2019

Analysis

Updated: Monument Mining Ltd

Monument Mining is a small gold producer in Malaysia (Selinsing). They will produce about 14,000 oz in 2019 and they have an FD market cap of $17 million. Last quarter they had $1 million in free cash flow with all-in costs around $1100 per oz. They have... more

01/17/2019

Analysis

Updated: Grizzly Discoveries Inc

Grizzly Discoveries is a project generator focused in Canada. They have a large property (Greenwood) in British Columbia with 225,000 acres. On part of the property (65,000 acres), Kinross Gold has a 75% option by spending $3,000,000 in exploration (spent more

01/17/2019

Analysis

Updated: ARGO GOLD INC

Argo Gold is a project generator focused in Ontario, Canada. They have 6 early exploration properties (30,000 acres) in some very good locations. They had some problems financing exploration but recently raised $640,000 (they hope to bring it to $1,500,00 more

01/16/2019

Analysis

Updated: Silver North Resources

Alianza Minerals was created in 2015 from the combination of Tarsis Resources and Estrella Gold. It is a project generator without an advanced project. They have 21 early exploration projects in the Yukon, Mexico, Nevada, and Peru. This is a high risk... more

01/15/2019

Analysis

Updated: Thunderstruck Resources Ltd

Thunderstruck Resources is a project generator focused in Fiji. They are exploring 5 deposits, most of which are base metals (copper and zinc). The have two high grade zinc discoveries (Nakoro and Wainaleka) and two gold projects (Liwa Creek and Rama... more

01/15/2019

Analysis

Updated: Troilus Gold Corp

Troilus Gold is trying to restart a gold/copper open pit mine (Troilus) in Quebec. The deposit is around 2.5 million oz (.8 gpt). They also have about 1.5 million oz (1.5 gpt) underground, but it is low grade. They will release a PEA in 2019. Until then... more

01/15/2019

Analysis

Updated: White Gold Corp

White Gold Corp. (formerly G4G Capital) has 30 properties in the Yukon on 1 million acres. They acquired the Golden Saddle property from Kinross Gold, who traded it for 20 million shares of the company. Golden Saddle is 1 million oz at 2.5 gpt and is... more

01/15/2019

Analysis

Updated: DELETE - Aurcana Silver 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. Since... more

01/13/2019

Analysis

Updated: Golden Share Resources Corp

Golden Share Mining is a project generator in Ontario, Canada. They have two early exploration gold projects: Berens River and Band Ore. Both are past producing mines with historical resources (around 400,000 oz). One of these projects could become a... more

01/13/2019

Analysis

Updated: DELETE - American Cumo Mining Corp

American Cumo Mining has a large copper/moly project (CuMo) in Idaho with 2 billion lbs of moly and 1.5 billion lbs of copper. It also has 150 million oz of silver, although very low grade (1.7 gpt). They don't provide the annual silver production... more

01/13/2019

Analysis

Updated: SilverCrest Metals Inc

Silvercrest Metals arose from the Silvercrest Mining and First Majestic merger in 2015. Four early exploration projects were spun out. Either First Majestic made a mistake in leaving Silvercrest the Las Chispas project, or it wasn't for sale. Las Chispas... more

01/13/2019

Analysis

Updated: Integra Resources

Integra Resources came into existence after Integra Gold was acquired. They are developing the DeLamar property in Idaho. This property has produced 107 million oz of silver and 1.6 million oz of gold. It's an exciting project, although investors are... more

01/13/2019

Analysis

Updated: Integra Resources

Integra Resources came into existence after Integra Gold was acquired. They are developing the DeLamar property in Idaho. This property has produced 107 million oz of silver and 1.6 million oz of gold. It's an exciting project, although investors are... more

01/13/2019

Analysis

Updated: DELETE - Magnum Goldcorp Inc

Magnum Gold has a single exploration project in Canada (British Columbia). The LH project had some drilling in 2015 when they hit the discovery holes (17 meters at 13 gpt and 57 meters at 3.8 gpt). unforunately they were not able to follow up with... more

01/13/2019

Analysis

Updated: Sky Gold Corp

Sunvest Minerals is a small exploration company in Canada. They have recently sold Their McKinnon-Hawkins gold project in Ontario (13,000 acres) in order to focus on their Clone project, which is located in the Golden Triangle (British Culombia). It is... more

01/12/2019

Analysis

Updated: DELETE - Chaarat Gold Holdings Ltd

Chaarat Gold is an emerging mid-tier producer with lofty ambitions. Their goal is to become a major with 1 million oz of annual production. The problem is their flagship project (Kyzyltash) is located in the Kyrgyz Republic. That adds a lot of risk.... more

01/12/2019

Analysis

Updated: Prosper Gold Corp

Prosper Gold is a project generator focused in Canada. They have a good exploration team, which previously sold Richfield Ventures to New Gold. Hopefully one of their two early exploration projects will become a mine. Both are 20,000 acres with potential. more

01/12/2019

Analysis

Updated: Condor Gold Plc

Condor Gold is advancing a 2.4 million oz project (La India) in Nicaragua. It has a pre-feasibility study with a $120 million capex with cash costs around $700 per oz. The starter open pit is 1.2 million oz at 3 gpt to produce 100,000 oz annually. The... more

01/12/2019

Analysis

Updated: DELETE - Aurcana Silver 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. Since... more

01/12/2019

Analysis

Updated: DELETE - Golden Star Resources Ltd.

Golden Star Resources is an old company with 25 years of experience. They have a good management team and appear to be heading in a good direction. They have 10 million oz (3 gpt) of resources in Ghana, West Africa. They have two producing mines (Wassa... more

01/12/2019

Analysis

Updated: Azarga Metals Corp

Azarga Metals is a project generator with a large copper/silver project in Russia. Unkar has 700 million lbs of copper and 75 million oz of silver (.38 gpt). It is mostly a copper mine, but could become a silver mine at higher silver prices. A PEA was... more

01/12/2019

Analysis

Updated: Silver Bull Resources Inc

Silver Bull Resources has a large silver/zinc project in Mexico. Sierra Mojada is a 90 million oz (50 gpt and 75% recovery rate) silver deposit with 4 billion lbs of zinc, plus copper and lead. The property is on 50,000 acres and has exploration... more

01/11/2019

Analysis

Updated: K92 Mining Inc

K92 Mining is an emerging mid-tier gold producer in Papua New Guinea. They purchased a past producing mine (2006 to 2009) from Barrick Gold for $2 million, plus $60 million in future payments. The Kainantu mine has about 2.5 million oz at 7 gpt, with... more

01/10/2019

Analysis

Updated: DELETE - Magnum Goldcorp Inc

Magnum Gold has a single exploration project in Canada (British Columbia). The LH project had some drilling in 2015 when they hit the discovery holes (17 meters at 13 gpt and 57 meters at 3.8 gpt). unforunately they were not able to follow up with... more

01/10/2019

Analysis

Updated: Stelmine Canada Ltd

Stelmine Canada is an exploration company focused in Canada. They have been collecting properties in Quebec. They now have 7 on more than 100,000 acres. All 5 are on large properties. However, they are also early exploration without any discoveries. This... more

01/10/2019

Analysis

Added: Stratabound Minerals

Stratabound Minerals is a project generator focused in Canada. They have one gold property in the Yukon (Gold Culvert). It is on 20,000 acres and appears to be a discovery. They have only done a little bit of trenching and have identified a mineralized... more

01/10/2019

Analysis

Updated: Plata Latina Minerals Corp

Plata Latina Minerals is a project generator focusing on silver in Mexico. They have 3 early exploration projects (Palo Alto, Vaquerias, and La Joya) on 25,000 acres. The best thing they have going for them is the location of their projects, which are in... more

01/09/2019

Analysis

Added: Firefox Gold

Firefox Gold is a new project generator focused in Finland. They did their IPO in 2018 just began exploration. They have 4 properties with a total of 250,000 acres. Some of their properties have past exploration and are potential discoveries. They will... more

01/09/2019

Analysis

Added: Firefox Gold

Firefox Gold is a new project generator focused in Finland. They did their IPO in 2018 and just began exploration. They have 4 properties with a total of 250,000 acres. Some of their properties have past exploration and are potential discoveries. They... more

01/08/2019

Analysis

Added: iMetal Resources

iMetal Resources is a project generator focused in Canada. They are a new company that recently acquired a large property (25,000 acres) in Ontario called Gowganda. Only 5% has been explored and they have found high-grade grab samples. They are going to... more

01/07/2019

General

New SeekingAlpha: 2019 Top 15 Gold & Silver Mining Producers

https://seekingalpha.com/article/4231905-top-15-gold-silver-mining-producers-2019 more

01/06/2019

General

December 2018 Newsletter Posted

The December 2018 newsletter has just been posted. more

01/06/2019

Analysis

Updated: Aurelius Minerals Inc

Aurelius Minerals has two early exploration projects in Canada (Ontario). They are mainly focused on Mikwam, which is located near Detour Gold's large mine and has one high grade vein (~5 g/t Au), approximately 10 meter wide and 200 meters long. They try... more

01/06/2019

Analysis

Updated: First Mining Gold

First Mining Gold (formerly First Mining Finance) was started as a new company in 2014 by Keith Neumeyer the CEO of First Majestic Silver. His goal was to grow the company by creating a mineral bank of properties. However, in 2017, he hired a CEO (Jeff... more

01/06/2019

Analysis

Updated: Eldorado Gold Corp

Eldorado Gold is a large mid-tier producer with a lot of reserves (17 million oz). They have been a growth-oriented company. They have 4 operating mines, plus 3 more being developed. Production will rise from about 250,000 oz. to 500,000 oz. in 20201... more

01/06/2019

Analysis

Updated: Eldorado Gold Corp

Eldorado Gold is a large mid-tier producer with a lot of reserves (17 million oz). They have been a growth-oriented company. They have 4 operating mines, plus 3 more being developed. Production will rise from about 250,000 oz. to 500,000 oz. in 2021... more

01/05/2019

Analysis

Updated: Argonaut Gold Inc

Argonaut Gold is a mid-tier producer. There is a lot to like about this company. Their production is forecasted to grow from 170,000 oz in 2018 to 200,000 in 2019. They have three producing mines in Mexico with all-in costs (free cash flow) around $1100... more

01/05/2019

Analysis

Updated: Endeavour Silver Corp

Endeavour Silver is a silver producer in Mexico. They have 4 high-grade silver/gold producing mines, with expected production of 10 million oz (silver equivalent including gold) in 2019. They are expanding production and reserves, projecting 12 million... more

01/05/2019

Analysis

Updated: New Gold Inc

New Gold is a mid-tier producer with a lot of problems. They were producing 550,000 oz in 2017 and everything looked good. Today their production is a bit over 300,000 oz. Their costs have exploded from around $1,000 per oz all-in to around $1,400 per oz... more

01/05/2019

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 were around $2.50 per... more

01/03/2019

Analysis

Updated: DELETE - Hi Ho Silver Resources

Hi Ho Silver is a small project generator focused in Canada (British Columbia). All of their projects are early exploration and are mostly gold. They have a tiny market cap and I decided to add them to the database because of their catchy name. If silver... more

01/03/2019

Analysis

Updated: Banyan Gold Corp

Banyan Gold has 2 early stage exploration open pit projects in the Yukon. Their main focus is The Aurex and McQuesten gold properties which are contiguous, comprising of 8,230 hectares and 1,000 hectares respectively and include areas of historic gold... more

01/02/2019

Analysis

Updated: Metals Creek Resources Corp

Metals Creek Resources is small exploration company. Their Ogden gold project in Ontario is still early exploration, but drill results have been very good (12 meters at 210 gpt, 75 meters at 2.2 gpt, 21 meters at 6 gpt). It's too early to tell if they... more

01/02/2019

Analysis

Updated: Arizona Gold & Silver

Arizona Silver Exploration was formed in 2016. They have a single silver project (Ramsey) in Arizona which produced high grade silver in the 1930s (1280 acres). It has a historic hole of 46 meters at 300 gpt, plus old veins that average 2 meters at 900... more

01/01/2019

Analysis

Updated: Hecla Mining Company

Hecla Mining used to be mostly a silver mining company. However, gold is now 50% of their revenue and they just acquired Klondex Mines, which is a gold producer. They used to be a low cost silver producer, but they lost $23 million last quarter. Now they... more

News from January 2019

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