News from November 2021

11/30/2021

Analysis

Updated: Tarachi Gold Corp

Tarachi Gold is a new project generator focused in Mexico. They have a single project (Tarachi) that has 7 properties (Chivias, Pretoria, San Javier, Jabalia) next to each other on about 8,000 acres. They have two discovery holes (5 meters at 34 gpt and... more

11/30/2021

Analysis

Updated: Great Atlantic Resources Corp

Great Atlantic Resources is a project generator focused in Canada. They have projects in Newfoundland and New Brunswick. All of them are early exploration and have potential based on soil samples and some drilling. Currently they do not have anything... more

11/30/2021

Analysis

Updated: Stratabound Minerals

Stratabound Minerals is an exploration/development company. They recently acquired two projects that are potential mines and are giving guidance that they want to become a gold producer. Their Freemont project in California is a 1 million oz (1.4 gpt)... more

11/29/2021

Analysis

Updated: Aben Minerals Ltd

Aben Resources is a project generator in Canada. The CEO has had success before, selling his last two companies. They have seven projects and all are early exploration. In 2016, they obtained the Forrest Kerr (23,000 acres) property in the golden... more

11/29/2021

Analysis

Updated: Galantas Gold Corp

Galantas Gold is trying to build a small high-grade underground mine in Ireland. It has a low capex ($11 million) because they already have a mill, which was recently used for open pit mining. The Omagh mine is 400,000 oz at 6 gpt. They will need to... more

11/29/2021

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

11/29/2021

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 200,000 acres. Four are on large properties: Courcy, Mercator, Joubert, Trieste. They have discovery holes on Courcy... more

11/29/2021

Analysis

Updated: Golden Sky Minerals Corp

Golden Sky Minerals (previously Luckystrike Resources) is a new project generator. They were a spinout from Goldstrike Resources in 2018. They have 3 properties in the Yukon (White Gold district). Their Lucky Strike property (40,000 acres) is a potential... more

11/29/2021

Analysis

Updated: Kirkland Lake Discoveries Corp

Warrior Gold is a project generator focused in Canada. They have one property (Goodfish-Kirana) on 9,000 acres. It's in a good location (next to Kirkland Lake's Macassa mine in Ontario) with 18 historical open pits, plus some underground workings.... more

11/29/2021

Analysis

Updated: Pucara Gold Ltd

Pucara Gold is a new project generator focused in Peru. They are preparing to drill two early exploration projects, neither of which have had much drilling. Their focus seems to be Lourdes (6,000 acres). In 2020, investors were excited about the high-grad more

11/28/2021

Analysis

Updated: Newfoundland Discovery Corp

Newfoundland Discovery Corp. (formerly Great Thunder Gold) is a project generator focused in Canada. They recently acquired 10 properties (75,000 acres) in Newfoundland. All are early exploration. This seems to be their new focus. If Newfoundland... more

11/28/2021

Analysis

Updated: Dios Exploration Inc

Dios Exploration is a project generator focused in Canada. They do not have a company presentation, so I don't have a feel for what they have. They list four projects, but all appear to be early exploration. They have tiny FD market cap of $7 million.... more

11/28/2021

Analysis

Updated: Aton Resources Inc

Aton Resources (formerly Alexander Nubia International) has several early exploration projects in Egypt. They are a Canadian company with 175,000 acres of claims (24-mile trend with 14 target areas). They have a drill plan to do extensive drilling on two... more

11/27/2021

Analysis

Updated: Oriole Resources PLC

Oriole Resources is a project generator focused in West Africa. They have 3 properties, plus equity interest in 4 companies, plus 2 NSRs. Their Senala project in Senegal is a 30% JV. IamGold has revised the earn-in agreement in 2020 and has to spend $8M... more

11/27/2021

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. The Moss mine began production in 2018 by Elevation Gold (previously Northern Vertex) and Patriot Gold should continue to get around... more

11/27/2021

Analysis

Updated: Black Dragon Gold Corp

Black Dragon Gold (formerly Astur Resources) is a case study on the high risk of gold mining stocks. They had an economic project (Salave in Spain) and then their environmental mining permit was denied. The stock crashed from 47 cents to 1 cent. Now They... more

11/27/2021

Analysis

Updated: Mexican Gold Mining

Mexican Gold (previously Source Exploration) has an interesting property in Mexico called Las Minas. It is on 4,000 acres and they have discovered 6 mineralized zones while drilling 14,000 meters. They think it could be a large mine. Early drill results... more

11/26/2021

Analysis

Updated: Romios Gold Resources Inc

Romios Gold has a large property (180,000 acres) in the Golden Triangle near Novagold's large Galore Creek copper project. They are exploring three project (Lundmark - Akow Lake, Newmont Lake and Trek) and have had some success. It is still too early to... more

11/26/2021

Analysis

Updated: Palamina Corp

Palamina Corp is a new project generator. They are focusing on Peru and have 5 early exploration projects (150,000 acres). They are getting ready to drill Usicayos (previously "Coasa", 45,000 acres), which is a gold discovery that was never drilled... more

11/26/2021

Analysis

Updated: Radisson Mining

Radisson Mining has a small high-grade/open-pit gold project in Quebec. Their O'Brien - New Alger (13,000 acres) project has 400 oz (7 gpt) and likely will increase in size. They are targeting 1 million oz and are cashed up to drill, with 70,000 meters... more

11/26/2021

Analysis

Updated: Pacific Ridge Exploration Ltd

Pacific Ridge Exploration is a project generator that has been in business for 45 years. They have 7 early exploration gold projects, 3 in Yukon and 4 in British Columbia. Their main focus is the Kliyul copper-gold project that adjoins Kwanika prospect (o more

11/26/2021

Analysis

Updated: Wheaton Precious Metals Corp

Wheaton Precious Metals (previously Silver Wheaton) is a large gold/silver royalty company. Gold is about 63% of revenue. Silver is about 33% of revenue. They have 21 producing silver and gold royalty properties with 9 projects in development. Their... more

11/25/2021

Analysis

Updated: BTU Metals

BTU Metals Corp. is a project generator focused in Canada. Their flagship project is Dixie Halo in the Red Lake area which shares 35km of boundaries with Great Bear Resources's discovery (the Dixie project). They defined three targets on the property:... more

11/24/2021

Analysis

Updated: Bellevue Gold

Bellevue Gold is developing a large high-grade project in Western Australia (Bellevue). Investors like it, giving them a FD market cap of $629 million. It is 3 million oz at 10 gpt resource. It is economic, with all-in costs (break-even) around $1100 per... more

11/24/2021

Analysis

Updated: Sailfish Royalty Corp

Sailfish Royalty is a new company. They only have 6 NSR properties, but one of them (San Albino) begins paying out in 2021 at about $3 million per year. At higher gold prices, it could double in value. They are currently out of cash, so expect dilution.... more

11/24/2021

Analysis

Updated: DELETE - Azure Minerals Ltd

Azure Minerals is an Australian-based exploration company. They seem to be focusing on a base metals project (Andover). Andover appears to be the reason for their high valuation. They own 60% and their JV partner is a large miner in Australia (Creasy).... more

11/23/2021

Analysis

Updated: Sunstone Metals

Sunstone Metals is an Australian-based project generator with two gold/copper projects in Ecuador. Both projects are early exploration, but both appear to be discoveries. Investors are excited about Bramaderos (12,500 acres). It appears to be a gold/coppe more

11/23/2021

Analysis

Updated: Austral Gold Ltd

Austral Gold is a gold producer in Chile (Guanaco and Amancaya). They currently produce about 50,000 oz of gold equivalent (including silver). Production will increase to about 75,000 oz when they restart their Casposo mine in Argentina. However, they... more

11/22/2021

Analysis

Updated: Loncor Resources Inc

Loncor Resources is a project generator with 3.5 million acres in the DRC (Democratic Republic of Congo). When I looked at them in 2012, they had an FD market cap of $113 million. I thought that was a bit pricey for a company without any resources. Their... more

11/22/2021

Analysis

Updated: Condor Gold Plc

Condor Gold is advancing a 3 million oz project (La India) in Nicaragua. It has a pre-feasibility study with a $150 million capex with cash costs around $700 per oz. They want to build both an open pit and underground mine at the same time. Production... more

11/21/2021

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. They have been around since 1984 and discovered the Douay project which they sold to... more

11/21/2021

Analysis

Updated: Gateway Mining

Gateway Mining is a project generator focused in Western Australia. They have several properties they are exploring. Their large Gidgee property (250,000 acres) has several discovered surface open pits that they are drilling. It looks like a mine in the... more

11/21/2021

Analysis

Updated: QCX Gold Corp

QCX Gold Corp. is a new project generator focused in Canada. They have two projects in Quebec, the most significant of them is Golden Giant, Located 2.9 km away from Azimut Exploration’s discovery (The Elmer gold project). Their interpretation is that... more

11/20/2021

Analysis

Updated: Vanstar Mining Resources Inc

Vanstar Mining is a project generator focused in Canada. They have 5 projects in Quebec. One of them (Nelligan) is a 20% JV with IAMGold and is a large project. Nelligan is already 3.2 million oz (1 gpt) and growing in size. They are carried to... more

11/20/2021

Analysis

Updated: Trident Royalties Plc

Trident Royalty is a new royalty company based in England. They only have 8 royalty properties (6 gold), but are likely to continue to expand. This model continues to bring in new players. They have no debt, which is a good start. At some point, I would... more

11/20/2021

Analysis

Updated: Generic Gold Corp

Generic Gold is a project generator focused in Canada. They have a large property in Quebec (Belvais) that is in a good location with excellent infrastructure. They have been doing surface exploration and are planning to drill soon. They also have 4... more

11/19/2021

Analysis

Updated: Aeris Resources Ltd

Aeris Resources is a copper and gold producer. Their Tritton copper mine produces about 18,000 tons a year. If copper prices rise, that will give them a lot more free cash flow. They also have Cracow, a small underground mine. Their gold resources are... more

11/19/2021

Analysis

Updated: DELETE - Firefinch Ltd

Firefinch Ltd (formerly Mali Lithium) recently acquired a past-producing gold mine in Mali. Morila (175,000 acres) has produced 7.4 million oz and was in production as recently as 2019. It still has 2.5 million oz (1.2 gpt) resource, plus exploration... more

11/19/2021

Analysis

Updated: Unico Silver

E2 Metals is a project generator focused in Argentina and Australia. Investors like this stock, bidding it up to an $80 million FD market cap in 2020. That valuation does not appear to be earned yet. They have a discovery hole at Conserrat in Argentina (8 more

11/18/2021

Analysis

Updated: Nicola Mining Inc

Nicola Mining (formerly Huldra Silver) was a small producer in Canada. They have a high-grade (10 opt) deposit (Treasure Mountain). They started producing at 600,000 oz and could have been able to ramp up to 1 million oz with exploration success. But it... more

11/18/2021

Analysis

Updated: Firefox Gold

Firefox Gold is a new project generator focused in Finland. They did their IPO in 2018 and are exploring 6 properties with a total of 200,000 hectares. Some of their properties have past exploration and are potential discoveries. They were recently... more

11/17/2021

Analysis

Updated: DELETE - Rockcliff Metals Corp

Rockcliff Metals (previously Rockcliff Copper and Solvista Gold) is really a copper miner, although a significant amount of gold. They are currently advancing 4 projects (Talbot, Tower, Rail, Bur) to production in Manitoba, Canada. They released a PEA in... more

11/17/2021

Analysis

Updated: Tinka Resources Ltd

Tinka Resources is a project generator with two significant projects in Peru. Their Ayawilca zinc/tin/silver project (35,000 acres) already has 2.5 billion lbs of zinc (7 billion lbs of zinc equivalent). They updated their PEA in 2021, with a 20-year... more

11/16/2021

Analysis

Updated: Troilus Gold Corp

Troilus Gold is developing a large open pit mine (Troilus) in Quebec. The deposit is around 7 million oz (.7 gpt). However, about half of the resources are low-grade underground and might not be economic. The open pit is around 3.5 million oz. It relies... more

11/16/2021

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 450,000 oz to about 700,000 oz after these 3... more

11/16/2021

Analysis

Updated: First Mining Gold

First Mining Gold 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 Swinoga) to develop their... more

11/15/2021

Analysis

Updated: Adriatic Metals

Adriatic Metals is building a large silver/zinc/gold/copper mine (Rupice) in Bosnia. It is financed and permitted with construction beginning soon. It is an 18-month build with a $170 million capex. They streamed the copper, but the AGEQ cash costs are... more

11/15/2021

Analysis

Updated: Wesdome Gold Mines Ltd

Wesdome Gold Mines is a mid-tier producer in Canada (Ontario and Quebec) with an FD market cap of $1.5 billion. They are being valued highly because they are ramping up production at their second mine (Kiena). They will mine at a rate of about 175,000 oz... more

11/14/2021

Analysis

Updated: Adriatic Metals

Adriatic Metals is building a large silver/zinc/gold/copper mine (Rupice) in Bosnia. It is financed and permitted with construction beginning soon. It is an 18-month build with a $170 million capex. They streamed the copper, but the AGEQ cash costs are... more

11/14/2021

Analysis

Updated: Hochschild Mining Plc

Hochschild Mining is a large silver/gold producer in South America. They will produce 30 million of silver equivalent (including gold) in 2021. All-in costs per oz are currently about $20 (silver equivalent, including gold). Hochschild is not a low-cost... more

11/14/2021

Analysis

Updated: Thunder Mountain Gold Inc

Thunder Mountain Gold is small project generator focused in the U.S. They sold their South Mountain project (1200 acres), which will give them some cash and shares in BeMetals, the operator of the project which looks to provide a PEA. The problem for... more

11/13/2021

Analysis

Updated: Fortuna Silver Mines Inc

Fortuna Silver is a mid-tier gold and silver producer in Mexico, Peru, Argentina, and West Africa (Burkina Faso). They acquired Roxgold in 2021, which gives them an additional 120,000 oz of production (Yaramoko) at all-in costs around $1200 per oz. Plus,... more

11/12/2021

Analysis

Updated: Triumph Gold Corp

Triumph Gold (formerly Northern Freegold) is a project generator in the Yukon. They have drilled about 3% of their flagship Freegold Mountain project (Yukon, Canada) and already have a 2+ million oz resource (75% recovery) at .5 gpt (along with 10... more

11/11/2021

Analysis

Updated: Santacruz Silver Mining Ltd

Santacruz Silver Mining is a silver and base metals producer in Mexico. They had problems with high costs in 2017 and sold their flagship Gavilanes project. They were left with two mines (Rosario and Veta Grande) with low resources of only about 20... more

11/10/2021

Analysis

Updated: DELETE - Great Panther Mining

Great Panther Mining (formerly Great Panther Silver) is a mid-tier gold/silver producer in Mexico. They have two producing silver mines in Mexico that produce 90% precious metals (silver and gold) and one producing gold mine in Brazil (Tucano). They used... more

11/09/2021

Analysis

Updated: Westhaven Gold

Westhaven Gold (formerly Westhaven Ventures) is a project generator in Canada. They recently had a major discovery (17 meters at 24 gpt) at Shovelnose in 2018 (British Columbia). The stock blasted off over $1, but has come back down, and currently trades... more

11/08/2021

Analysis

Updated: DELETE - Aurcana Silver Corp

Aurcana Silver Corp is a silver producer in Colorado (RV Mine). They recently obtained a $28 million loan and raised money through share dilution. Production should ramp up to 4 million oz (AGEQ) with all-in costs around $18 per oz in Q1 2022. The... more

11/08/2021

Analysis

Updated: Wiluna Mining

Wiluna Mining (previously Blackham Resources) is a mid-tier gold producer in Australia. They are producing around 120,000 oz with all-in costs around $1500 per oz. They have large resources of around 6 million oz and have plans to expand production (phase more

11/08/2021

Analysis

Updated: Wiluna Mining

Wiluna Mining (previously Blackham Resources) is a mid-tier gold producer in Australia. They are producing around 120,000 oz with all-in costs around $1500 per oz. They have large resources of around 6 million oz and have plans to expand production (phase more

11/07/2021

Analysis

Updated: Montage Gold Corp

Montage Gold is advancing a large open-pit project (Kone) in West Africa (Cote d’Ivoire). The project is on 350,000 acres and is already a 4 million oz deposit. It has various grades (.9 gpt to .3 gpt), so they will mine the high-grade portion first,... more

11/07/2021

Analysis

Updated: Dolly Varden Silver Corp

Dolly Varden Silver is project generator in Canada. They have one exploration project. Their 22,000 acre Dolly Varden property in northern British Columbia has 4 past producing mines. These mines produced 20 million oz at 10 to 30 opt in the 1920s and... more

11/06/2021

Analysis

Updated: Norden Crown Metals Corp

Norden Crown Metals (previously Boreal Metals) is a project generator focused in Scandinavia. They have two properties - a VMS style project (Gumsberg, Sweden) and a JV (20%) on an IOCG type project (Burfjord, Norway). Both are early exploration and they... more

11/06/2021

Analysis

Added: Ranchero Gold Corp

Ranchero Gold is a new company that was formed in 2021. They are a project generator with a single property (Santa Daniela) on 55,000 acres in Mexico. It has had two rounds of drilling by the previous owner and has found gold. One family owns 60% of the... more

11/06/2021

Analysis

Updated: Eskay Mining Corp

Eskay Mining has 130,000 acres next to the large Seabridge Gold Kerr project in the Golden Triangle (British Columbia, Canada). They have 3 properties (SIB, Corey, North Mitchell). All are early exploration, although they do have some discovery holes (35... more

11/06/2021

Analysis

Updated: 55 North Mining Inc

55 North Mining is a project generator focused in Canada. They have one property (Last Hope) in Manitoba. It is a small (350,000 oz at 5 gpt) deposit that they keep expanding (they issued 2 resource estimates in 2021 alone). The main challenge of the... more

11/05/2021

Analysis

Added: Fancamp Exploration Ltd

Fancamp Exploration is an experienced project generator with 90 projects, including 6 high-priority projects. They have both precious metals and base metals. They currently don't have a significant discovery that they are drilling. It appears that all of... more

11/05/2021

Analysis

Added: Vulcan Minerals Inc

Vulcan Minerals is project generator focused in Canada. They have two early exploration projects in Newfoundland. They appear to be focusing on Gander (1,500 acres) and Colchester-Springdale (10,000) acres. They are cashed up with about $10 million and... more

11/04/2021

Analysis

Added: Riley Gold Corp

Riley Gold is a new project generator focusing in Nevada. They have two early exploration projects. Tokop has some historical drilling and several high-grade surface samples. There is definitely gold on their property, but is there enough for a mine.... more

11/04/2021

Analysis

Added: Mas Gold Corp

Mas Gold is a project generator focused in Saskatchewan, Canada. They have four properties and several discovered deposits over 80,000 acres. Their Preview North property is the most advanced with 400,000 oz (.9 gpt) and a PEA due in 2022. It is composed... more

11/03/2021

Analysis

Added: GoldHaven Resources Corp

Goldhaven Resources is a new project generator. They have several early exploration projects. The two most exciting are in Newfoundland. Pats Pond (22,000 acres) and O Neil (32,000 acres) will be drilled soon and are in good locations. They also have... more

11/02/2021

Analysis

Updated: Osisko Gold Royalties Ltd

Osisko Gold Royalties is focused mostly on gold royalties. They have about 17 producing royalties at about 80,000 oz per year (gold equivalent oz). They are growing and expect to reach 180,000 oz by 2023. They have very lost costs, with 90% margins. Plus, more

11/01/2021

General

October 2021 Newsletter Posted

October 2021 Newsletter Posted. more

11/01/2021

Analysis

Updated: Inflection Resources Ltd

Inflection Resources is a project generator focused in Australia. They have a huge property (1.2 million acres) in New South Wales. They are calling it Northern NSW. It is in a large mining district with 20 other mining companies. That is always a good... more

11/01/2021

Analysis

Updated: Eros Resources Corp

Eros Resources is developing a small gold mine in Nevada. Bell Mountain (3,200 acres) has 90,000 oz at .6 gpt. So, it is low grade. The capex is $17 million to produce about 50,000 oz (10,000 oz per year). The after-tax IRR isn't terrible at 24% at $1300... more

11/01/2021

Analysis

Updated: Heliostar Metals Ltd

Heliostar Metals (formerly 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... more

11/01/2021

Analysis

Updated: Patagonia Gold Plc

Patagonia Gold (formerly Hunt Mining) is a small producer in Argentina. They produced only 5k oz at Lomada in 1H of 2021, where they have 1.2 million oz (AUEQ including silver). They have about 2.5 million oz of gold resources (AUEQ including silver), so... more

News from November 2021

Calendar

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