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News from January 2019

01/30/2019
Analysis  
Updated: Prospero Silver Corp.
Prospero Silver is an exploration company focused in Mexico. They have 5 properties (55,000 acres) that they are exploring for silver. Insiders hold 16% of the company and Fortuna Silver another 20%, plus an exclusive right for a 70% JV deal on the...  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
01/28/2019
General  
New SeekingAlpha: 10 More Producers
https://seekingalpha.com/article/4236104-10-gold-silver-producers-2019?source=all_articles_title  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: East Asia Minerals 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
01/27/2019
Analysis  
Updated: 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
01/26/2019
Analysis  
Updated: Alacer Gold Corp
Alacer Gold was created in early 2011 from a merger of Avoca Resources (Australia) and Anatolia Minerals (Turkey). In 2013 Alacer sold their Australian properties. Now it is Turkey focused. In 2019, they will produce around 280,000 oz (their share), with...  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
01/26/2019
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: 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: 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: Dacian Gold Ltd
Dacian Gold is a new mid-tier producer in Australia. Production began in 2018 at 200,000 oz. They should be able to maintain that level of production for at least 10 years and likely longer. All-in costs are about $1000 per oz (free cash flow)....  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
01/24/2019
Analysis  
Updated: Thundelarra 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: 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
01/23/2019
Analysis  
Updated: Rubicon Minerals Corp.
Rubicon Minerals built a large gold mine in Ontario, Canada. They completed construction in 2015, but had to suspend operations because of lower than expected grade. They expected 5+ gpt and only mined 2.5 gpt. After re-calculating the deposit size, they...  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: 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: 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: Tembo Gold Corp
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: 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
01/20/2019
Analysis  
Updated: Gold Standard Ventures Corp
Gold Standard Ventures is a project generator focusing on Nevada. In 2010, they began drilling their 100% owned Railroad project (27,000 acres) in Nevada on the Carlin Trend. Initial drill results have been very good (they have 4 discoveries and 3.5...  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: 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: Canada Cobalt Works
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: 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
01/19/2019
Analysis  
Updated: Detour Gold Corp.
Detour Gold is an emerging major in Canada. They have a 20 million oz deposit (1 gpt) in Ontario. Production began in 2013 and ramped up to 620,000 oz in 2018. All-in costs are around $1150 per oz. Thus, they will be able to pay down their debt ($250...  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: Savary Gold Corp
Savary Gold is an exploration company in West Africa (Burkina Faso). They own 69% of the Karankasso property, which is quickly turning into a large deposit. They already have 800,000 oz at 2 gpt, plus they have 10 miles of mineralization to explore. They...  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
01/19/2019
Analysis  
Updated: 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: GT Gold Corp
GT Gold has an early exploration project (Tatogga) in the Golden Triangle. They had a high grade discovery in 2017 and the stock price exploded from 18 cents to $2. Since then it has come back to 45 cents. There is still excitement with their discovery...  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: Alianza Minerals Ltd.
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: Aurcana 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
01/15/2019
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: 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
01/13/2019
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: 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: 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: 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: Sunvest Minerals 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
01/13/2019
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
01/12/2019
Analysis  
Updated: Aurcana 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: 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: 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
01/12/2019
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: 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: 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
01/11/2019
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: 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
01/10/2019
Analysis  
Updated: 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
01/09/2019
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
01/09/2019
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
01/08/2019
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
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
01/06/2019
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: 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: Alio Gold Inc.
Alio Gold (previously Timmins Gold) is a mid-tier producer that began producing in 2010. Their San Francisco mine is winding down. They plan to produce 800,000 oz through 2025. All-in costs are around $1200 per oz. Costs were up and production was down...  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
General  
December 2018 Newsletter Posted
The December 2018 newsletter has just been posted.  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: 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
01/03/2019
Analysis  
Updated: 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
01/02/2019
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 Silver Exploration Inc
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


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