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01/30/2024
Analysis
Updated: Red Lake Gold Inc
Red Lake Gold is a new project generator (formed in 2019) focused in Canada. Their main project is Whirlwind Jack, located next door to the Dixie Gold discovery by Great Bear. They have not yet begun drilling Whirlwind (50,000 acres).
Their other... more
01/29/2024
Analysis
Updated: Volcanic Gold Mines Inc
Volcanic Gold Mines (formerly Volcanic Metals) is an exploration company focused in Guatemala. They left Guinea due to political issues that caused them to lose their drill permits. Then they left their project in the Ivory Coast in order to focus on... more
01/29/2024
Analysis
Updated: Capricorn Metals Ltd
Capricorn Metals is a mid-tier gold producer in Australia. They began production at Karlawinda (350,000 acres) in 2021. It is a 2.3 million oz open pit (.8 gpt). They were able to build it for only $60 million of debt and have already paid back $20... more
01/28/2024
Analysis
Updated: Grizzly Discoveries Inc
Grizzly Discoveries is a project generator focused in Canada. They have a large property (Greenwood) in British Columbia with 150,000 acres. On part of the property (65,000 acres) Kinross Gold had a 75% option which they recently terminated after... more
01/28/2024
Analysis
Updated: Blackwolf Copper and Gold Ltd
Blackwolf Copper & Gold (formerly Heatherdale Resources) holds four mineral exploration projects in their portfolio, spread across British Columbia and Alaska. Niblack, located in Alaska, stands out as a late-stage polymetallic prospect drilled in 2022.... more
01/27/2024
Analysis
Updated: Nord Precious Metals Mining
Nord Precious Metals (previously Canada Silver Cobalt) has two past producing silver mines (Castle and Beaver). The Castle mine produced 20 million oz of silver at 25 opt, plus a significant amount of cobalt. Production stopped in 1989 for lack of... more
01/26/2024
Analysis
Updated: Dynacor Gold Mines Inc
Dynacor Gold Mines uses a unique business model. They use the free cash flow from a mill (about $15 million expected in 2023) to finance exploration and pay dividends (4% yield). They plan to add additional toll milling operations in Peru and Senegal (Wes more
01/25/2024
Analysis
Updated: Sierra Metals Inc
Sierra Metals was mostly a base metals producer in Mexico and Peru. They had a flooding event in 2022. This caused their share price to crash to 10 cents. It has since rebounded to 55 cents, with an FD market cap of $118 million. They remain cheap if you... more
01/25/2024
Analysis
Updated: Baru Gold Corp
Baru Gold (formerly East Asia Minerals) is building a small open-pit project in Indonesia. Their 70% owned Sangihe project has 100,000 oz (they get 70%). Production was scheduled for 2023, but didn't happen. Their share was supposed to be around 12,000... more
01/24/2024
Analysis
Updated: Challenger Exploration Ltd
Challenger Exploration is an Australian-based company advancing a large open-pit gold discovery in Argentina. It has a 2 million oz (2 gpt AU), plus significant offsets. It's a large property with a lot of drill targets. The deposit it is growing in size. more
01/24/2024
Analysis
Updated: Sky Gold Corp
Sky Gold (previously Sunvest Minerals) is a small exploration company in Canada. Their most exciting projects are the Virginia (250 acres) and Mustang (4,200 acres) properties, located Contiguous to New Found Gold's Queensway gold project which has... more
01/24/2024
Analysis
Updated: North Stawell Minerals Ltd
North Stawall Minerals is a new project generator focused in Australia. Their flagship asset is the Wildwood property, a past-producing mine with 43 drill targets and a small resource of 87,000 ounces @ 2.34 g/t Au. Given the time and effort invested in... more
01/23/2024
Analysis
Updated: Antioquia Gold Inc
Antioquia Gold is a small gold producer in Colombia. They are producing about 30,000 oz. They are projected to mine 150,000 oz over 5 years. I don't know how they were able to raise $100 million in debt for such low output. Plus, their cash costs are... more
01/23/2024
Analysis
Updated: Ivanhoe Mines Ltd
Ivanhoe Mines has two huge projects, plus a large zinc project. 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 and 50 million oz AUEQ. About 90% of production (1 million oz a... more
01/23/2024
Analysis
Updated: Augusta Gold Corp
Augusta Gold (formerly Bullfrog Gold) has an open pit project in Nevada (Bullfrog-Reward). The combined properties (7 miles apart) have almost 2M oz. Reward has about 500,000 oz at .75 gpt and permitted. Bullfrog has about 1.5M oz at .5 gpt is being... more
01/22/2024
Analysis
Updated: Monument Mining Ltd
Monument Mining is a building a small gold mine in Malaysia (Selinsing). It is an 800,000 oz resource and will produce about 30,000 oz annually. They have an FD market cap of $31 million. They are projecting all-in costs (breakeven) around $1300 per oz.... more
01/22/2024
Analysis
Updated: Silver Bull Resources Inc
Silver Bull Resources has a large silver/zinc project in Mexico. In 2019, an illegal blockade denied access to the project. Subsequently, an unlawful expropriation by the Mexican government, resulting from the blockade, revoked their rights and led to a... more
01/22/2024
Analysis
Updated: Centamin Plc
Centamin PLC is a mid-tier producer in Egypt. They have a 50/50 JV with an Egyptian government agency for their large Sukari mine. They have a $1.3 billion FD market cap, so it isn’t a cheap stock. Sukari has a large resource of 5 million oz M&I (their... more
01/21/2024
Analysis
Updated: Sitka Gold Corp
Sitka Gold is a project generator focused in North America. Their current focus is the RC gold project (80,000 acres) in the Yukon. They had a discovery hole in 2021 of 220 meters at 1.1 gpt AU. Then 449 meters at .7 gpt in 2023. They released a maiden... more
01/21/2024
Analysis
Updated: GMV Minerals Inc
GMV Minerals is an open pit oxide gold mine in Arizona. Their Mexican Hat property (4800 acres) is a gold discovery with 650,000 oz at 0.6 g/t (inferred). They published a PEA in 2019 but the market didn't believe those results were reasonable given the... more
01/21/2024
Analysis
Updated: Orea Mining Corp
Orea Mining (formerly Columbus Gold) is a project generator. They recently tried to acquire the other 55% of the Montagne deposit in French Guyana (South America) to gain 100% control. However, it was denied by the Canadian government because it is owned... more
01/21/2024
Analysis
Updated: Viscount Mining Corp
Viscount Mining is a project generator focused in Colorado and Nevada. They have two early exploration silver projects. They are drilling Silver Cliff (2,000 acres) in Colorado. Early drill results have been promising (34 meters at 90 gpt, 12 meters at... more
01/20/2024
Analysis
Updated: Tectonic Metals Inc
Tectonic Metals is a project generator focused in Alaska. They are drilling their Flat-Chicken Mountain project (92,000 acres). It appears to be a significant discovery (24 meters at 12 gpt AU), pushing their FD market cap to $37M. It has some historic... more
01/20/2024
Analysis
Updated: White Gold Corp
White Gold Corp. has 30 properties in the Yukon on 900,000 acres. They acquired the Golden Saddle property from Kinross Gold, who traded it for 20 million shares of the company. Golden Saddle is 2 million oz at 2 gpt and is growing in size. Drill results... more
01/19/2024
Analysis
Updated: Carnavale Resources Ltd
Carnavale Resources is a project generator focused in Australia. They have two gold projects (Ora Banda South, and a 80% ownership in Kookynie). Kookynie (12,500 acres) is a significant gold discovery with drill holes of 6M at 72 gpt AU, 6M at 68 gpt AU,... more
01/19/2024
Analysis
Updated: Prosper Gold Corp
Prosper Gold is a project generator focused in Canada. Their Golden Sidewalk (40,000 acres) project in Ontario is in a good location in Red Lake and has had very good surface samples. However, the initial drill results were less favorable. They embarked... more
01/18/2024
Analysis
Updated: Meeka Gold Ltd
Meeka Gold is advancing a large gold project (Murchison) in Western Australia. It is already 1.2 million oz (3 gpt) and has an additional 30,000 meters (from St Annes) that will add a few more hundred thousand ounces. It is a large (90,000 acres)... more
01/17/2024
Analysis
Added: Abitibi Metals Corp
Abitibi Metals is a new exploration company founded in 2023. They have two discoveries in Quebec that they are drilling. B26 (8,000 acres) is a copper/gold discovery. They have 10M tons at 3% CUEQ. That is excellent grade if they can expand the deposit... more
01/17/2024
Analysis
Updated: Batero Gold Corp
Batero Gold has a low-grade open pit project in Colombia. They have a 3 million oz resource (.6 gpt). Surprisingly Batero Gold has a low valuation of $7 million fully diluted. The stock has crashed 99% from $3.80 per share in 2011 to 5 cents today. Their... more
01/16/2024
Analysis
Updated: Nova Minerals Ltd
Nova Minerals has a large gold project (Estelle) in Alaska (85% ownership). The Korbell deposit is already 7 million oz (their share), although low grade (.3 gpt). The RPM deposit (their share) is 1.3 million oz (2 gpt) and growing in size. RPM had some... more
01/16/2024
Analysis
Updated: Perpetua Resources Corp
Perpetua Resources (formerly Midas Gold) has a very large gold project in Idaho that is heading to production around 2028. Stibnite is a 6.8 million oz resource (1.6 gpt) that is growing in size and has significant exploration potential (25,000 acres).... more
01/15/2024
Analysis
Updated: Orla Mining Ltd
Orla Mining became a mid-tier producer in 2022, when they build their first mine (Camino Rojo). They have 15 million oz of gold and are a growth story. They currently produce 120,000 oz in Mexico (Camino Rojo) with cash costs around $500 per oz. So, they... more
01/15/2024
Analysis
Updated: IAMGOLD Corp
IAMGold Corp is a large mid-tier producer, with production around 700,000 oz once Cote comes online in Q1 2024. They have 2 operating mines in Canada (Quebec), and Burkina Faso. They are currently building a large gold mine in Ontario (Cote with 9... more
01/14/2024
Analysis
Updated: K92 Mining Inc
K92 Mining is a mid-tier gold producer in Papua New Guinea. They have one of the best gold mines in the world. It is high-grade and large (8 million oz at 10 gpt). Plus, they have 10 drills turning and are finding more high-grade gold. They have enough... more
01/14/2024
Analysis
Updated: Doré Copper Mining Corp.
Doré Copper Mining is trying to become a small copper/gold producer in Canada. They have about 7 properties in Quebec along with a mill. Their gold project, named Gwillim is a 50/50 JV with Argonaut Gold (with Doré being the operator). They have about... more
01/13/2024
Analysis
Updated: Silver Elephant Mining
Silver Elephant Mining (previously Prophecy Development) is a project generator focused in Bolivia. They have a large silver project called Pulacayo-Paca (8,000 acres). The good news is that it is a large project, the bad news is that it is in Bolivia,... more
01/13/2024
Analysis
Updated: Ximen Mining Corp
Ximen Mining has exploration projects in British Columbia and a past producing mine which is their main focus (Kenville). They received the final permits and are now commencing engineering and other technical studies to meet conditions specified in the... more
01/12/2024
Analysis
Updated: Omai Gold Mines Corp
Omai Gold Mines is a project generator focused in Guyana. Their Omai property in Guyana (South America) produced 3.7 million oz between 1992 and 2005 by IAMGold. They left a lot of gold behind. The Wenot open pit has 1.8M oz at 1.5 gpt. The Gild... more
01/12/2024
Analysis
Updated: Eminent Gold Corp
Eminent Gold is a project generator focused in Nevada. They had four early exploration gold projects, but they recently terminated agreements for two of them (Spanish Moon & Weepah). The other projects have low-sulfidation epithermal potential; Hot... more
01/12/2024
Analysis
Updated: Argonaut Gold Inc
Argonaut Gold is a mid-tier producer focused in Mexico and North America. Their 2024 production should be around 300,000 oz, with Magino coming online to produce 150,000 oz in Canada at $1450 breakeven costs. They will also produce about 80,000 oz at... more
01/11/2024
Analysis
Updated: Buenaventura Mining
Buenaventura Mining is a major with production of 13 million oz of silver and 175,000 oz of gold, plus significant copper and zinc (40% of revenue comes from base metals). They have a pipeline of 6 projects that will provide steady growth.
They lost... more
01/10/2024
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 about 30 properties (about 6 JVs) on 240,000 acres. They have 20% of the Treaty Creek project (plus 1% NSR) that is being drilled... more
01/09/2024
Analysis
Updated: West African Resources Ltd
West African Resources is a mid-tier gold producer in Burkina Faso (West Africa). They have 12 million oz (1.3 gpt) and are producing 200,000 oz annually (Sanbrado-M1-Toega). They are building their flagship project (Kiaka), which will take their... more
01/08/2024
Analysis
Updated: AbraSilver Resource Corp
Abrasilver Resources (previously Abraplata Resources) is advancing a large silver/gold project in Argentina. They obtained the Diablillos project from Silver Standard (now SSR Mining). They paid cash ($7 million is still due from 2023 to 2026), and they... more
01/07/2024
Analysis
Updated: Skeena Resources Ltd
Skeena Resources is close to beginning construction on a large (5.5 million oz) high-grade open pit project (Eskay Creek) in the Golden Triangle in British Columbia. They obtained Eskay Creek from Barrick Gold in December, 2017. Since then, they have... more
01/07/2024
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. Full ramp-up was just completed in 2023. MAG's share will be about 8 million oz of annual silver production for the first... more
01/06/2024
Analysis
Updated: Conroy Gold & Natural Resources Plc
Conroy Gold is a project generator focused in Ireland. They have a 42% JV for their Clay Lake – Clontibret project. It is on 250,000 acres with a 40-mile trend. Their JV partner is drilling and the initial resource is 500,000 oz at 1.6 gpt, with a... more
01/06/2024
Analysis
Updated: SilverCrest Metals Inc
Silvercrest Metals in 2023 ramped up production at their large silver/gold mine in Mexico. Las Chispas is a monster project. It has 6 miles of underground workings and 14 known veins. The resource size is 130 million oz (550 gpt silver equivalent... more
01/06/2024
Analysis
Updated: Osisko Development Corp
Osisko Development was created in 2020 from a spinout by Osisko Gold Royalty. They are advancing the Caribou project in British Columbia. It is a 4.5 million oz underground project with a $450 million capex. Permitting is due in 2024, with construction... more
01/06/2024
Analysis
Updated: Hercules Silver Corp
Hercules Silver is a project generator focused in the USA. They are drilling their Hercules project (10,000 acres) in Idaho. It has 28,000 meters of historical drilling, including 30 meters at 335 gpt, 27 meters at 394 gpt, and 47 meters at 377 gpt. It... more
01/05/2024
Analysis
Updated: C2C Gold Corp
C2C Gold Corp. (previously Taku Gold) is a project generator with a large land package (125,000 acres) in the Yukon and Newfoundland. In Newfoundland, they have 14 properties in vicinity to Sokoman Minerals, Great Atlantic and Marathon gold.
They... more
01/05/2024
Analysis
Updated: Hecla Mining Company
Hecla Mining is a silver and gold mining company (about 37% revenue from each). They are a low-cost silver producer, with cash costs around $3 per oz after offsets. They have a leveraged balance sheet with $600 million in debt and only $100 million in... more
01/05/2024
General
Don Interviewed on Palisades Radio
https://youtu.be/vfXPhdSYTSU?si=0H0oH6lj3uoX_HK0 more
01/01/2024
General
December 2023 Newsletter Posted
December 2023 Newsletter Posted. more
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