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02/28/2019
Analysis
Updated: Transition Metals Corp
Transition Metals is a project generator with 30 projects (9 gold) in Canada and 4 JVs. They are focusing on 5 district size plays: 2 gold, 1 copper, and 2 nickel, copper, and PGMs. All are early exploration. Their most recent drill results returned 9.14... more
02/27/2019
Analysis
Updated: Benton Resources Inc
Benton Resources is a project generator. They sold their advanced gold project (Cape Ray) in Newfoundland in Canada for $4 million and currently exploring their Bedivere and Panama Lake projects. Bedivere was drilled through 2017 and 2018 and is... more
02/27/2019
Analysis
Updated: NorZinc Ltd
NorZinc Ltd (previously Canadian Zinc) has a silver/zinc/lead project (Prairie Creek) in the Northwest Territories. They are heading towards production once they get financing ($280 million capex) and have a large high-grade deposit (84 million oz at 4... more
02/26/2019
Analysis
Updated: Almaden Minerals Ltd
Almaden Minerals has decided to build their flagship project in Mexico (Ixtaca). They spun out their 40 exploration properties to their stockholders in a new company (Almadex Minerals). Ixtaca has a PFS (pre-feasibility study) to produce 80,000 oz (.6... more
02/26/2019
Analysis
Updated: Perpetua Resources Corp
Midas Gold has a very large gold project in Idaho that is heading to production around 2024. Stibnite is a 6.4 million oz resource (1.6 gpt) that is growing in size and has significant exploration potential. They have an FD market cap of $277 million,... more
02/24/2019
Analysis
Updated: DELETE - Cache Exploration Inc.
Cache Exploration is a small project generator in Canada. They have a gold discovery (Kiyuk Lake) in Nunavut on 75,000 acres and a cobalt property (Deep Lake). There has been 60 holes drilled in Kiyuk and they have found four zones with mineralization.... more
02/24/2019
Analysis
Updated: Fortune Minerals Ltd
Fortune Minerals has a shovel-ready gold/copper/cobalt/bismuth project in Canada (Northwest Territories). The problem is the high capex ($437 million). No one wants to take a chance on it today. The mine life is 21 to 24 years. However, it will likely... more
02/24/2019
Analysis
Updated: Allegiant Gold
Allegiant Gold (spinout from Columbus Gold) is a project generator focused in Nevada and Arizona. They have 14 projects, with 10 of them drill ready that they plan to drill. They have one discovery (Eastside), but it is low grade and investors are not... more
02/24/2019
Analysis
Updated: DELETE - Petropavlovsk Plc
Petropavlovsk PLC is a mid-tier gold producer in Russia. They have 20 million oz of gold resources and will produce 500,000 oz with cash costs around $800 per oz in 2019. They have a poor balance sheet with $600 million in debt and only $33 million in... more
02/24/2019
Analysis
Updated: Northern Dynasty Minerals Ltd
Northern Dynasty is advancing the Pebble project in Alaska. Over $750 million has been spent. Pebble has 80 billion lbs (4%) of copper, 75 million oz (.4 gpt) of gold, and 500 million oz (1.5 gpt) of silver. Pebble is the largest undeveloped gold mine in... more
02/24/2019
Analysis
Updated: Kinross Gold Corp
Kinross Gold is a major with 2.5 million oz of gold equivalent production. Their all-in costs for 2019 are projected to be around $1100 (gold equivalent cash costs per oz around $750). In 2017, when gold prices averaged about $1300 and their cash costs... more
02/23/2019
Analysis
Updated: Greenstone Resources Ltd
Barra Resources has two early exploration gold projects in Australia. They also have an advanced cobalt project that can provide cash flow to explore their gold projects. Both of their gold projects appear to have gold, but will require significant... more
02/23/2019
Analysis
Updated: STLLR Gold
Moneta Porcupine has an excellent project in Ontario, Canada. The Golden Hwy property is a 4 million oz resource (1.7 gpt), although 3.2 million oz are inferred. They released a PEA for 25,000 tpd at 288,000 oz annual production. The capex was high at $60 more
02/23/2019
Analysis
Updated: DELETE - Andromeda Metals Ltd
Andromeda Metals is a project generator focused in Australia. They have 5 projects on large land holdings (1.5 million acres). They have 2 JVs with a 25% interest. They also recently obtained some projects in the Pilbara region in case that area turns... more
02/23/2019
Analysis
Updated: Desert Mountain Energy Corp
Desert Mountain is a project generator. They hold 1% on a permitted mine (Yellowjacket) that could be restarted. They had several early exploration projects in Africa, but divested all of them. Now they are left with their Yellowjacket gold property in... more
02/23/2019
Analysis
Updated: Gungnir Resources Inc
Gungnir Resources is a Canadian exploration company with a project in Sweden. Their Knaften property is on 18,000 acres in a good location. Early drill results (86 holes) have found a discovery (10 meters at 3.4 gpt). Plus, they have a royalty that will... more
02/23/2019
Analysis
Updated: Latin Metals Inc
Centenera Mining is a project generator focused in Argentina. They are exploring 5 projects, all of which are early exploration. They do not have any JVs at the moment. They do have a copper/gold discovery (Esperanza), which has a 350 meter hole at .35%... more
02/21/2019
Analysis
Updated: Westkam Gold Corp
Westkam Gold is a project generator focused in Canada. They have one project (Bonaparte in British Columbia) which they tried to sell to MX Gold but couldn't finalize it. Therefore they drilled it in 2018 and plan to continue in 2019, but their financial... more
02/20/2019
Analysis
Updated: Gold Springs Resources
TriMetals Mining (formerly South American Silver) has been a painful fall for their investors. It has fallen from $3.25 a share in 2010 to today’s price of 5 cents. Ouch. Today it has an FD market cap of $14 million. This happened because the Bolivian... more
02/18/2019
Analysis
Updated: DELETE - Nautilus Minerals Inc.
Nautilus Minerals is a high-risk speculation stock, however, the sky is the limit. They are planning to mine from the sea floor at deep depths (5000 feet and deeper). If it works, they will likely expand rapidly, adding reserves and new mines. They... more
02/18/2019
Analysis
Updated: Santacruz Silver Mining Ltd
Santacruz Silver Mining is a small silver producer in Mexico. They had problems with high costs in 2017 and sold their flagship Gavilanes project. Now they are left with two small mines (Rosario and Veta Grande) with low resources of only about 20... more
02/17/2019
Analysis
Updated: Westgold Resources Ltd
Westgold Resources is a mid-tier producer in Australia. They were a spinout of Metals X in 2016 (which remains as a base metals company). They have 11 million oz of resources (plus recent acquisitions of Andy Well and Gnaweeda) and 4 producing mines.... more
02/17/2019
Analysis
Updated: Trifecta Gold Ltd
Trifecta Gold is a project generator focused in the Yukon. They were created in 2017 from a spinout of 4 properties by Strategic Metals. All of the properties are early exploration and have not been drilled.
They recently tried to raise $500,000 in... more
02/17/2019
Analysis
Updated: Nulegacy Gold Corp
NuLegacy Gold has an early exploration project in Nevada (Iceberg and Avocado deposits on the Red Hill Property). It is nearby Barrick Gold’s 14 million oz Goldrush open pit deposit. It could be another large open pit. The early drill results have been... more
02/17/2019
Analysis
Updated: Bravada Gold Corp
Bravada Gold is an exploration company focused on Nevada. They have 11 Properties on 23,000 acres. The company was a spin-out from Bravo Gold and is a relatively new project generator. Their best property is Wind Mountain, a past producing open pit... more
02/17/2019
Analysis
Updated: Westgold Resources Ltd
Westgold Resources is a mid-tier producer in Australia. They were a spinout of Metals X in 2016 (which remains as a base metals company). They have 11 million oz of resources (plus recent acquisitions of Andy Well and Gnaweeda) and 4 producing mines.... more
02/17/2019
Analysis
Updated: Aurania Resources Ltd
Aurania Resources is a new company with an early exploration project in Ecuador called the Lost Cities / Cutucu project. It is a large property with 500,000 acres. In 2017 and 2018 they collected soil samples and looked for drilling targets. They plan to... more
02/17/2019
Analysis
Updated: Gold Resource Corp
Gold Resource Corp is an emerging mid-tier producer. They are often referred by their trading symbol GORO. After they went into production in 2011, their share price rocketed to $30 a share. However, it came all the way back, trading at $1.91 in early... more
02/16/2019
Analysis
Updated: Eloro Resources Ltd
Eloro Resources is a project generator focused in Peru. They have a potential large gold discovery at La Victoria (22,000 acres). Early drill results have been impressive. The share price exploded in 2016 and 2017, but it has crashed back to 23 cents. It... more
02/16/2019
Analysis
Updated: AbraSilver Resource Corp
Abraplata Resource Corp obtained the Diablillos silver/gold project from Silver Standard (now SSR Mining). They paid cash ($15 million, $13 million still due) and shares (20% of the company) to obtain 100%. Diablillos is an 80 million oz (90 gpt) silver... more
02/16/2019
Analysis
Updated: Orla Mining Ltd
Orla Mining has two open pit projects totaling 12 million oz. They could easily become a large company. They are developing their first mine (Camino Rojo - Mexico), which is a 2.4 million oz. (.8 gpt) oxide deposit. The capex in $100 million to produce... more
02/16/2019
Analysis
Updated: Regis Resources Ltd
Regis Resources is an Australian gold producer. It was a fantastic investment in 2008, when they traded for 10 cents. It increased to $6 in 2012, but is now back to $3.87 with a $2 billion FD market cap. Cash costs are around $650 per oz, plus their... more
02/16/2019
Analysis
Updated: Puma Exploration Inc
Puma Exploration is a project generator focused in Canada. They have five projects in New Brunswick. All of them have potential. Recent copper/zinc drill results at Dragon and Powerline have been impressive. Nicholas-Deny (15,000 acre) has the 6 mile... more
02/14/2019
Analysis
Updated: Metals Exploration Plc
Metals Exploration is an emerging mid-tier gold producer in the Philippines. Their Runruno project has 1.4 million oz (1.7 gpt). They plan to produce 75,000 oz for 10 years. The bad news is that the Philippines has been rethinking their mining industry,... more
02/14/2019
Analysis
Updated: DELETE - Rainy Mountain Royalty Corp
Rainy Mountain Royalty is a project generator focused in Ontario, Canada. They have 7 properties, but many of them are base metals. Two of their properties are early exploration gold projects (Brunswick and Powell). Both need to be drilled.
They do... more
02/12/2019
Analysis
Updated: Torq Resources Inc
Torq Resources (formerly Stratton Resources) is a small project generator. They recently let go of their three properties (Newfoundland and Utah) and are looking for a new property.
They have an experienced team with a good track record. At this... more
02/11/2019
Analysis
Updated: Polymetal Intl. Plc
Polymetal International is a major with both large gold and silver production in Russia. They have 24 million oz of gold resources and 340 million oz of silver resources. They are producing 900,000 oz of gold and 29 million oz of silver. Gold equivalent... more
02/10/2019
Analysis
Updated: Independence Gold Corp
Independence Gold is new project generator. They recently sold 3 projects in the Yukon and decided to halt drilling in the Boulevard project after disappointing results. Their current focus is the 3Ts project (12,000 acres) in British Colombia. It has... more
02/10/2019
Analysis
Updated: Carlin Gold Corp
Carlin Gold Corp. is a project generator in Nevada and the Yukon. In February 2018 they terminated a JV with Barrick Gold on their Cortez Summit project in Nevada, which is next door to Barrick's 11 million oz Goldrush project. They also have two other... more
02/10/2019
Analysis
Updated: Reunion Gold Corp
Reunion Gold has 6 projects in South America, none of which appear to be advanced. I don't think they have selected which project to focus on yet. Three are in French Guiana. Haute Mana (30,000 acres) is an 80% option that requires a PEA by 2022. Dorlin ( more
02/10/2019
Analysis
Updated: Precipitate Gold Corp
Precipitate Gold is a new company started in 2012. They have a small market cap of $6 million and some interesting properties in the Dominican Republic, Mexico, and Canada. This is a high-risk speculation stock. However, it was founded by the Coffin... more
02/10/2019
Analysis
Updated: West Vault Mining Inc
West Kirkland Mining purchased the Hasbrouck and Three Hills properties from Allied Nevada in 2014 for $20 million. They diluted their shares substantially to buy the properties. They have a pre-feasibility study to build both for a capex of $47 million.... more
02/10/2019
Analysis
Updated: Ramelius Resources Ltd
Ramelius Resources is a mid-tier producer in Australia. They are producing 200,000 oz with low all-in costs under $1100 per oz. They have an FD market cap of $263, which would be undervalued for a 200,000 oz producer with low cash costs, $65 million in... more
02/09/2019
Analysis
Updated: Inca One Gold Corp
Inca One Gold is a toll miner in Peru. They process gold ore from other companies for a profit. They have a plan to grow from 250 tpd to 450 tpd - if they can sign enough contracts with gold producers. They focus on revenue in their company presentation... more
02/09/2019
Analysis
Updated: Inca One Gold Corp
Inca One Gold is a toll miner in Peru. They process gold ore from other companies for a profit. They have a plan to grow from 250 tpd to 450 tpd - if they can sign enough contracts with gold producers. They focus on revenue in their company presentation... more
02/09/2019
Analysis
Updated: Erdene Resource Development Corp
Erdene Resource Development is an early player in Mongolia, a country with a significant amount of natural resources. They have two projects that should make it into production. Khundii is headed to production in 2021. They released a positive PEA in... more
02/09/2019
Analysis
Updated: Troy Resources Ltd
Troy Resources is a small gold producer. They have a good project in Guyana. Karouni has a 1 million oz (2.3 gpt) open pit resource. Production began in 2015 and was supposed to ramp up to 90,000 oz. However, they have had problems accessing the high... more
02/07/2019
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
02/07/2019
Analysis
Updated: DELETE - Angel Gold Corp
Angel Gold Corp is a new company with three early exploration projects in Colombia. Their lead geologist is very good and made the Ventana discovery. This is a very high risk speculation stock until they make a discovery. They acquired the El Porvenir... more
02/07/2019
Analysis
Added: Western Atlas Resources Inc
Western Atlas Resources is a project generator focused in Canada. They have two large properties in Nunavut that both early exploration. It appears that both Meadow Bank (150,000 acres) and Committee Bay (250,000 acres) have not yet been drilled. Meadow... more
02/06/2019
Analysis
Added: Max Resource Corp
Max Resource Corp recently made an acquisition in Colombia. Choco (400,000 acres) is a similar discovery as the conglomerate found by Novo Resources. It is only 12 meters thick and a surface mine. They are currently testing 5 open pits in an area the... more
02/06/2019
Analysis
Updated: Northern Superior Resources Inc
Northern Superior Resources has 3 early exploration projects in Canada (Quebec and Ontario). Croteau Est (55,000 acres) is their focus. It is a 640,000 oz (1 gpt) resource that is likely to exceed 1 million oz. It appears to be a mine. They are currently... more
02/05/2019
Analysis
Updated: Bold Ventures Inc
Bold Ventures is a project generator focused in Canada. They have a lot of land 100,000 acres and 6 projects, but all of them are early exploration without a significant discovery.
I'm not sure where they are focusing their exploration dollars. They... more
02/05/2019
Analysis
Updated: Northern Superior Resources Inc
Northern Superior Resources has 3 early exploration projects in Canada (Quebec and Ontario). Croteau Est (55,000 acres) is their focus. It is a 640,000 oz (1 gpt) resource that is likely to exceed 1 million oz. It appears to be a mine. They are currently... more
02/04/2019
Analysis
Updated: Nortec Minerals Corp
Nortec Minerals is a small exploration company. They have obtained a 80% option for a gold project (Tomboko) in West Africa (Guinea). It is a large property (18,000 acres) and is next to a 5 million oz gold mine with similar geology.
After collecting... more
02/04/2019
Analysis
Updated: Imperial Metals Corp
Imperial Metals is a Canadian copper miner in British Columbia. They have 5 billion lbs of copper and 75 million lbs of annual production. They also have 18 million oz of gold (only about 35% recovery) and 25 million oz of silver (only about 25% recovery) more
02/03/2019
Analysis
Updated: Landore Resources Ltd
Landore Resources is advancing a gold project in Canada. Junior Lake is a recent discovery that has grown into a 950,000 oz surface deposit (2 gpt). They think it will have a low capex and low operation costs. They plan to work on a PEA and then a pre-fea more
02/03/2019
General
January 2019 Newsletter Posted
The January 2019 newsletter has just been posted. more
02/03/2019
Analysis
Updated: Peloton Minerals Corp
Peloton Minerals is an exploration company currently focused in Nevada. They have three gold projects (Golden Trail, Independence Valley, and Texas Canyon) that could be discoveries. Both are small properties (about 1,000 acres each). They have gold at... more
02/03/2019
Analysis
Updated: Galway Metals Inc
Galway Metals is advancing two projects in Canada. Their Clarence Stream gold project (600,000 oz at 2 gpt) could easily become a mine. It's on a large property (150,000 acres) in New Brunswick with significant exploration potential.
Their other... more
02/03/2019
Analysis
Updated: Kula Gold Ltd
Kula Gold is a project generator in Papau New Guinea. They have 20% ownership in a 2 million oz (1.5 gpt) deposit (Woodlark Island) that is permitted with a completed feasibility study. They have a JV deal with Geopacific Resources. The stock seems... more
02/03/2019
Analysis
Updated: Orvana Minerals Corp
Orvana Minerals is an emerging mid-tier producer. Their 1.7 million oz (4 gpt) flagship property in Spain (EVBC) began production in 2012 for a long-life mine. Currently they are only producing 65,000 oz at EVBC, but that should increase over time. They... more
02/02/2019
Analysis
Updated: ESGold Corp
Secova Metals is a small gold exploration company in Canada. They tried to advance their Duvay project (17,000 acres) in Quebec after hiring the CEO from Eagle Hill Exploration, which sold his company to Osisko Mining after finding 1.8 million oz in... more
02/02/2019
Analysis
Added: Landore Resources Ltd
Landore Resources is advancing a gold project in Canada. Junior Lake is a recent discovery that has grown into a 950,000 oz surface deposit (2 gpt). They think it will have a low capex and low operation costs. They plant to work on a PEA and then a pre-fe more
02/02/2019
Analysis
Added: Renforth Resources Inc
Renforth Resources is a project generator focused in Canada. They have 5 properties in Quebec and 2 JVs. Their Parbec property (500 acres) has a 650,000 oz (2 gpt) resource that looks like a mine. If it was a larger property with more exploration... more
02/02/2019
Analysis
Added: Seahawk Gold
Seahawk Ventures is a new project generator focused in Canada. They have 5 properties in Quebec. All of them are early exploration with very little drilling. They plan to drill Touchdown (6,000 acres), Mystery (8,000 acres), and Xtra Point (140 acres) in... more
02/02/2019
Analysis
Updated: Perseus Mining Ltd
Perseus Mining is a mid-tier producer in West Africa. They will produce about 250,000 oz in 2019. Most of that will come from their large Edikan project in Ghana. They will also produce about 75,000 oz from their new Sissingue project in Cote D’Ivoire.... more
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