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04/30/2013
Analysis
Updated: Evolution Mining Ltd
Evolution Mining is a solid mid tier producer. They have five producing mines in Australia and will produce 385,000 oz in 2013. They have low cash costs ($600 per oz in 2012) and strong cash flow. They need to improve their balance sheet with $44 million... more
04/29/2013
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 extremely high grade silver (350 gpt). And this property has very good exploration potential (18 mile corridor of... more
04/28/2013
Analysis
Updated: DELETE - Oroco Resource Corp.
Oroco Resources is another case study of why investing in gold mining stocks is so risky. They had an advanced project called Cerro Prieto that was on the verge of getting financed and developed into production. It was a 500,000 resource (M&I .7 gpt)... more
04/28/2013
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 extremely high grade silver (350 gpt). And this property has very good exploration potential (18 mile corridor of... more
04/28/2013
General
Takeover Trend of Near Term Producers
I analyzed two stocks today - Oroco Resources and Cerro Resources - that continued a trend.
Both of these companies had very similar stories. They were both near term producers with very advanced projects. Once the projects were de-risked, larger companies came in and made offers.
Goldgroup mining bought the Oroco Resources project for $18 million in cash ($38 per oz M&I). But it has exploration potential, so they are paying much less. Shareholders had an easy 5 bagger if it went into... more
04/27/2013
Analysis
Updated: Majestic Gold Corp
Majestic Gold is an emerging mid-tier producer. They should reach full production of 105,000 oz (they get 75%) in about 18 months. Their Song Jiagou flagship project in China is a very low cost mine ($400 per oz) and will produce high cash flow of more... more
04/26/2013
Analysis
Updated: Majestic Gold Corp
Majestic Gold is an emerging mid-tier producer. They should reach full production of 105,000 oz (they get 75%) in about 18 months. Their Song Jiagou flagship project in China is a very low cost mine ($400 per oz) and will produce high cash flow of more... more
04/26/2013
General
Silver versus Gold Inventory
There is about 150,000 tons of gold above ground, and at least 5x that amount in silver. But those totals are irrelevant. What is relevant is what you can purchase.
About half of the gold total is in jewelry and artwork. The amount that is recycled and re-enters the market as bullion and coins on an annual basis is negligible for the total gold supply for sale.
So the gold inventory is about 75,000 tons (gold and bullion) and it is rising at very small rate of about 2,000 tons per year.... more
04/25/2013
Analysis
Updated: Mundoro Capital
Mundoro Capital is a new project generator with 9 properties in Mexico on 500,000 acres and another 8 properties in Serbia and Bulgaria. All of their properties are early exploration and they have significant plans to drill. They have $17 million in... more
04/20/2013
Analysis
Updated: Minnova Corp
Auriga Gold is a possible near-term producer. Auriga wants to begin production in 2013 of their Puffy Mine on their Maverick property (5,000 acres) in Manitoba. However, in their March 2013 MDA, they are looking for a JV partner or to sell the project.... more
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