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04/30/2019
Analysis
Updated: White Rock Minerals Ltd
White Rock Minerals is developing a small gold project in Australia. Mt Carrington only has about 300,000 oz. It is a two-phased project with 35,000 oz of annual gold production for 5 years, with a capex of $32 million. It has a pre-feasibility study... more
04/30/2019
Analysis
Updated: DELETE - Cascadero Copper Corp.
Cascadero Copper has some early exploration silver projects in Argentina. They also have a rare earth project in Argentina.
They do not have a company presentation and the information on their website is sparse. In fact, Their CEO passed away in the... more
04/30/2019
Analysis
Updated: Keras Resources Plc
Keras Resources PLC is a small project generator. They will own about 48% of Calidus Resources after Calidus completes a feasibility study on their Warrawoona property (Western Australia). It is a 1.2 million oz deposit (2 gpt) that is likely to get... more
04/28/2019
Analysis
Updated: Viva Gold Corp
Viva Gold is a new project generator formed in 2017. They have one project (Tonapah) in Nevada. It has a 400,000 oz (.8 gpt) resource that should grow in size. It's on 4,000 acres in a good location. They are low on cash and will need to dilute soon. If... more
04/28/2019
Analysis
Updated: Red Pine Exploration Inc
Red Pine is a project generator focused in Canada. Their Wawa project in Ontario has about 1.1 million oz. They own 60% and have an FD market cap of $16 million. Their target is to expand the resources to 3 million oz, which seems optimistic. The Surluga... more
04/28/2019
Analysis
Updated: Spartan Resources Ltd
Gascoyne Resources is a small gold producer in Australia. Their Dalgaranga deposit is 1 million oz (1.3 gpt). Production began in 2018. They have had trouble ramping up production and costs have been high. They are currently trying to raise $20 million,... more
04/27/2019
Analysis
Updated: Abcourt Mines Inc
Abcourt Mines is a bit of an anomaly. I analyze a lot of stocks, and for some reason this company doesn't spend much on their website or marketing their company to investors. They have not released a company presentation in the past 5 years for their... more
04/27/2019
Analysis
Updated: Royal Gold Inc
Royal Gold is a royalty company based in the US. They have 41 producing properties and 17 under development, plus another 100+ in early or advanced stage exploration. They are growing production and are a growth company (around 10% annual growth). They... more
04/27/2019
Analysis
Updated: Heliostar Metals Ltd
Redstar Gold is a project generator focused in North America. They have a large property in Alaska (Unga) on 60,000 acres. Unga has significant potential with numerous drilling targets. It is a narrow vein, high-grade discovery. They have not drilled... more
04/27/2019
Analysis
Updated: B2Gold Corp
B2Gold is an emerging major with 5 producing mines in Nicaragua, Philippines, Namibia, and Mali. Production is scheduled for 950,000 oz in 2019. They have low cash costs at $550 per oz, although about $1050 all-in costs (free cash flow). These low costs... more
04/27/2019
Analysis
Updated: Signal Gold Inc
Anaconda Mining is a small producer in Canada, with 3 properties in Newfoundland. They are only producing about 20,000 oz per year at their Point Rousse project, with all-in costs (free cash flow) around $1250 to $1300 per oz. So, they are currently... more
04/27/2019
Analysis
Updated: S2 Resources Ltd
S2 Resources is a project generator based in Australia. They have three early exploration projects, but no discoveries. Their focus appears to be for precious metals. They acquired two gold properties in Nevada (South Roberts and Ecru). Skellefte is in... more
04/27/2019
Analysis
Updated: Auris Minerals Ltd
Auris Minerals is a gold (and copper) exploration company in Australia. They had a large project (Grosvenor) and recently sold it for 18 million shares of Metals X (currently worth about $10 million). Those shares could rise 5x in the future if they hold... more
04/26/2019
Analysis
Updated: DELETE - US Copper Corp.
Crown Mining has a large but low grade copper deposit (2 billion lbs at 0.25%) in California. With a $4 million FD market cap, it is cheap for such a large deposit, but it is understandable from several reasons, such as the low IRR (14% after-tax for... more
04/26/2019
Analysis
Updated: Avino Silver & Gold Mines Ltd
Avino Silver & Gold is an emerging mid-tier silver producer in Mexico. They will produce about 3 million oz of silver equivalent in 2019 with all-in costs around $14 per oz (free cash flow). They think they can increase production to 4 million oz (silver... more
04/25/2019
Analysis
Updated: Xali Gold Corp
Candente Gold is a small exploration company with a tiny FD market cap of $3 million. The El Oro property has a lot of potential. Only two veins on the property were mined to 200 meters and produced 6.4 million oz (8-10 gpt) of gold and 75 million oz (4-6 more
04/25/2019
Analysis
Updated: Falco Resources Ltd
Falco Resources has a large gold project in Quebec on 175,000 acres. The Horne mine is a 5 million oz deposit at 1.4 gpt, with significant amounts of copper (260 million lbs) and zinc (1.2 billion lbs) for offsets. Revenue is projected at about 70% gold,... more
04/25/2019
Analysis
Updated: Avino Silver & Gold Mines Ltd
Avino Silver & Gold is an emerging mid-tier silver producer in Mexico. They will produce about 3 million oz of silver equivalent in 2019 with all-in costs around $14 per oz (free cash flow). They think they can increase production to 4 million oz (silver... more
04/24/2019
Analysis
Updated: Paramount Gold Nevada Corp
Paramount Gold Nevada is developing two gold projects with 5 million oz. It is a new company that was a spinout of Paramount Gold & Silver in 2015, which sold their San Miguel project. That left them with the Sleeper project in Nevada. Sleeper is very... more
04/22/2019
General
New SeekingAlpha: IAMGold Corp: Good Entry Price
https://seekingalpha.com/article/4255711-iamgold-corp-good-entry-price more
04/22/2019
Analysis
Updated: Silver Bear Resources Plc
Silver Bear Resources has a large (125,000 acres) late stage project in Russia. Their Mangazeisky project is a 60 million oz resource of very high-grade silver. The first 5 years of production will be at 700 gpt. That was not a typo, it is one of the... more
04/22/2019
Analysis
Updated: DELETE - Kilo Goldmines Ltd
Kilo Goldmines is project generator focused in Africa. They appear to have a lot of gold on their properties (500,000 acres). They have already defined 1.7 million ounces (2.5 gpt) at their shallow open pit Somituri project (71% ownership). They plan to... more
04/21/2019
Analysis
Updated: Torex Gold Resources Inc
Torex Gold Resources has two large open pit projects in Mexico. El Limon is a 4 million oz (2.6 gpt) deposit. El Limon began production in December 2015. It is the 20th largest open pit project in the world, with production over 300,000 oz per year for... more
04/21/2019
Analysis
Updated: Silver Viper Minerals Corp
Silver Viper Minerals is a new company formed in 2017. They are a project generator focused in Mexico. Both of their projects are early exploration and not discoveries. La Virginia (85,000 acres) was drilled by the former owner (188 drill holes) and has... more
04/21/2019
Analysis
Updated: Resolute Mining Ltd
Resolute Mining is a mid-tier producer (300,000 oz of production) with three producing mines in West Africa (Mali, Ghana) and Australia. They have moderate cash costs ($850 per oz), with about $1150 all-in costs per oz. A good balance sheet with $88... more
04/21/2019
Analysis
Updated: PNX Metals
PNX Metals is advancing a zinc, silver, and gold project to production in Australia. It's small with about 500,000 oz of gold equivalent (including silver). They are calling it a zinc mine, but that will probably change if gold and silver prices take off. more
04/21/2019
Analysis
Updated: DELETE - Ireland Inc
Ireland Inc. has a potential large open pit gold mine in Nevada. Their Columbus property (45,000 acres) has an estimate of 175 million tons at 1 gpt based on 30 drill holes. That equates to 5 million oz, which seems optimistic to me. The 1 gpt recovery... more
04/21/2019
Analysis
Updated: Kenadyr Mining Holdings Corp
Kenadyr Mining (formerly Javelle Capital) has a gold discovery in the Kyrgyz Republic. It has a 2 million oz historical resource around 2.5 gpt. They have about $1 million in cash for drilling. Two years ago they had a market cap of $48 million. Now it... more
04/21/2019
Analysis
Updated: Wallbridge Mining Company Ltd
Wallbridge Mining is advancing a high-grade gold project (Fenelon) in Quebec. They had a FD market cap of $20 million in 2018 and then it exploded to $139 million today. They did a bulk sample that averaged 18 gpt, plus they released several high-grade... more
04/21/2019
Analysis
Updated: Highway 50 Gold Corp
Highway 50 Gold is an exploration company. They have a 50% option for a property (Monroe) in British Columbia (3,000 acres). The stock jumped from 4 cents to 41 cents in 2016, but is now back to 16 cents. They plan to begin drilling Monroe and someone... more
04/18/2019
Analysis
Updated: Sulliden Mining Capital Inc
Sulliden Mining Capital has been a successful exploration company lead by Stan Bharti, but started to act like a holding company. They did not sell any of their projects and did not enter into JVs. They are extrmely cheap, as they currently have $15... more
04/18/2019
Analysis
Updated: Rise Gold Corp
Rise Resources is a project generator with a high-grade gold project in California. Their Idaho-Maryland project has a historical resource of 1.3 million oz (10 gpt). It was last mined in 1954 and produced 2.4 million oz at 17 gpt. They claim that it... more
04/17/2019
Analysis
Updated: Melkior Resources Inc
Melkior Resources is a project generator focused in Canada. They have three early exploration gold projects. Carscallen in West Timmins, Ontario is next to a Lakeshore Gold mine and is their focus. Recent drill results have been fairly good averaging... more
04/16/2019
Analysis
Updated: Juggernaut Exploration
Juggernaut Exploration is a project generator focused in Canada. They have two gold projects (Midas and Empire) in British Columbia. Both are drill ready and appear to be potential discoveries based on grab samples and the geology. Both are large (80,000... more
04/15/2019
Analysis
Updated: Horizon Minerals Limited
Interim Resources was a small gold producer in Western Australia in 2017 (20,000 oz). They have the properties and expertise to grow the company. They have low resources of around 650,000 oz, but at least two additional discoveries (Anthill and Blister... more
04/15/2019
Analysis
Updated: Emergent Metals Corp
Emgold Mining had a big gold project in California, but lost the option. This crashed their share price and they did a reverse split, since then Their FD market cap rose to $5 million. they have a 500,000 oz project in Nevada called Golden Arrow which is... more
04/14/2019
Analysis
Updated: Warriedar Resources LTD
Anova Metals is an Australian company with a small gold mine (Second Fortune). They produced about 15,000 oz in 2018, but are currently waiting to decide to continue producing. Their share price has crashed 75% after they announced that they plan to sell... more
04/14/2019
Analysis
Updated: Warriedar Resources LTD
Anova Metals is an Australian company with a small gold mine (Second Fortune). They produced about 15,000 oz in 2018, but are currently waiting to decide to continue producing. Their share price has crashed 75% after they announced that they plan to sell... more
04/14/2019
Analysis
Updated: Iconic Minerals
Iconic Minerals is a project generator focused in Nevada. They have 3 early exploration gold projects (Hercules, Squaw Creek, New Pass) and 1 early exploration lithium project (Bonnie Claire). They are currently focusing on developing their lithium... more
04/13/2019
Analysis
Updated: Ascot Resources Ltd
Ascot Resources has a large gold project in Canada (British Columbia). Their Dilworth/Premier project is a gold and silver surface mine. It is a 5 million oz gold resource (.7 gpt), plus 38 million oz of silver (4 gpt). However, recent drill results (572... more
04/13/2019
Analysis
Updated: Golden Ridge Resources
Golden Ridge Resources is a project generator focused in Canada. They have two early exploration projects. Hank (5,000 acres) has a discovery in the golden triangle of British Columbia. They did their first drilling in 2017 and had a discovery hole of 21... more
04/13/2019
Analysis
Updated: Fremont Gold
Fremont Gold is a project generator focused in Nevada. They have 5 early exploration projects. Their most advanced is Gold Bar, which is a past producing mine with a 150,000 oz (2.5 gpt) historical resource. They also have a potential discovery at their... more
04/13/2019
Analysis
Updated: Goldstone Resources
Goldstone Resources has five projects in West Africa on 100,000 acres. They are trying to advance their Homase project to production in Ghana. It is a past producing mine and has 600,000 oz at 1.7 gpt. If they can become a producer, they have projects in... more
04/13/2019
Analysis
Updated: Xanadu Mines
Xanadu Mines is a project generator focused in Mongolia. They have a world-class copper/gold discovery (Kharmagtai). It is already 1.5 billion lbs of copper and 2 million oz of gold. Plus, they have 19 targets to expand the size. This is going to be a... more
04/13/2019
Analysis
Updated: Provenance Gold Corp
Provenance Gold is a project generator with two early exploration projects. Their 2K property (9,000 acres) is in a good location in the Yukon and has some excellent grab samples. They drilled an initial 13 holes, but they did not release the results.... more
04/13/2019
Analysis
Updated: Rusoro Mining Ltd
Rusoro Mining had a large gold mine (17 million oz) in Venezuela that was nationalized in 2012. In 2016, they won a $1.2 billion award by an international court. After they won the court case, their stock price jumped from $45 million to $75 million,... more
04/09/2019
Analysis
Updated: GPM Metals Inc
GPM Metals has two early exploration silver projects. The Walker Goosan project (425,000 acres) in Australia is in an area known for silver discoveries. The Pasco project (12,000 acres) in Peru is also in a good location. They have a 70% option for... more
04/09/2019
Analysis
Updated: DELETE - Arcus Development Group Inc.
Arcus Development has 4 properties in the Yukon that comprise their Dawson gold project. All four properties are near each other and are approximately 10,000 acres in total. All are early exploration with very little if any drilling. These properties are... more
04/08/2019
Analysis
Updated: Sunrise Resources Plc
Sunrise Resources is a London based exploration company. they are focused on their Pozzolan-Perlite Project in Nevada and they expect it to be mine ready in third quarter of 2019. They also have several early exploration gold projects, but they are not... more
04/07/2019
Analysis
Updated: Havilah Resources Ltd
Havilah Resources is copper/gold developer in Australia. They have 3 advanced copper/gold projects with 3 million oz of gold and more than 1 billion lbs of copper. They are currently working on a PFS for their Kalkaroo and Mutooroo projects, which will... more
04/07/2019
Analysis
Updated: Harmony Gold Mining Co.
Harmony Gold Mining is valued as a mid-tier producer, with an FD market cap of $1 billion. However, they are a 1.4 million oz producer. Their problem is that most of its mines are in South Africa. If they were producing in a mining friendly nation, their... more
04/07/2019
Analysis
Updated: Goldcliff Resource Corp
Goldcliff Resources is a project generator with 4 projects (3 in Canada and 1 in the US). Tulumeen is large copper/gold property (65,000 acres) in British Columbia, Pine Grove is a 40% JV of a small open pit gold project in Nevada (140,000 oz at 1.3 gpt), more
04/07/2019
Analysis
Updated: DELETE - Duketon Mining
Duketon Mining is a project generator focused in Western Australia. They have large project (Duketon) on 500,000 acres. It's in a good location where large gold mines have been found before. They also have a potential gold discovery (64 meters at 1.2 gpt) more
04/07/2019
Analysis
Updated: Americas Gold & Silver Corp
Americas Silver Corp (formerly Scorpio Mining) is a mid-tier silver producer in Mexico (San Rafael) and Idaho (Galena). They merged with U.S. Silver & Gold in 2014, who had the 54 million oz Galena high-grade silver mine. They currently produce around 2... more
04/07/2019
Analysis
Updated: Majestic Gold Corp
Majestic Gold is a small producer in China. They are currently producing 20,000 oz (their 70% share) and should reach full production of 70,000 oz (their share) in about 2 years. First they need to resettle two villages (scheduled for 2017). Their 2... more
04/07/2019
Analysis
Updated: Cordoba Minerals Corp
Cordoba Minerals is a project generator with a single large property in Colombia. San Matias is on 50,000 acres and has three discoveries. The resource total is 1 billion lbs (.7%) copper and 500,000 oz (.25 gpt) gold. It will likely get much bigger. A... more
04/06/2019
Analysis
Updated: Scorpio Gold Corp
Scorpio Gold was a small producer in Nevada (production began in 2011). They had to halt production in 2017 because of high costs. They have released a new feasibility study to produce 30,000 oz for 7.5 years. The capex is $36 million, with $800 per oz... more
04/06/2019
Analysis
Updated: Americas Gold & Silver Corp
Americas Silver Corp (formerly Scorpio Mining) is a mid-tier silver producer in Mexico (San Rafael) and Idaho (Galena). They merged with U.S. Silver & Gold in 2014, who had the 54 million oz Galena high-grade silver mine. They currently produce around 2... more
04/06/2019
Analysis
Updated: Kingston Resources Ltd
Kingston Resources is developing a large open pit gold project in Papua New Guinea. The Misima property (45,000 acres) has a past producing open pit, where 4 million oz was mined (production stopped in 2004). There is still 2.8 million oz left at 1.1 gpt. more
04/06/2019
Analysis
Updated: Orex Minerals Inc
Orex Minerals is a project generator in Mexico and Canada. Coneto (42,000 acres) in Mexico is a 45% JV with Fresnillo with a target of 100 million oz of silver equivalent. Fresnillo is drilling and must spend $21 million to get their option. Sandra... more
04/06/2019
Analysis
Updated: Outcrop Silver & Gold
Outcrop Gold (previously Miranda Gold) is a relatively new project generator. They have 2 JVs and 7 properties in Colombia, but none of their projects are a significant discovery. Thus, I consider this a highly speculative long-term investment.
Many... more
04/05/2019
Analysis
Updated: Pelangio Exploration Inc
Pelangio Exploration is a relatively new project generator. They three large exploration properties in Ghana (125,000 acres). It looks like they have found a potential million oz mine (Manfo). The initial resource estimate came out in 2012 at 500,000 oz ( more
04/04/2019
Analysis
Updated: DELETE - Stakeholder Gold Corp
Stakeholder Gold is a small project generator. Their Ballarat project is on 10,000 acres in the Yukon. It is early exploration and they have not yet began drilling. It seems to be in a good location, next to other discoveries in the White Gold district.... more
04/03/2019
Analysis
Updated: Norra Metals Corp
Norra Metals (previously OK2 Minerals) has two large (combined 25,000 acres) early exploration gold/copper projects (Pyramid and Kinskuch) in Canada, and three projects in Norway and Sweden, that were acquired from EMX Royalty (40,300 Hectares).
The... more
04/02/2019
Analysis
Updated: NV Gold Corp
NV Gold is a project generator focused in Nevada. They drilled their ATV project which was selected by Quinton Hennigh, who is on the board of directors and better known as the CEO of Novo Resources. Now they shift their focus to Frazier Dome and plan to... more
04/01/2019
Analysis
Updated: Asara Resources Ltd
Golden Rim Resources has two early exploration gold projects in Burkina Faso. Kouri has a 10 mile strike length to explore, and looks promising. They published their first resource estimate in 2018 and reported 1.4M ounces of gold at 1.4 g/t. They keep... more
04/01/2019
General
March 2019 Newsletter Posted
The March 2019 newsletter has just been posted. more
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