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News from August 2013
Added: Globex Mining Enterprises Inc
Globex Mining is a project generator that has been around for 60 years. With 116 properties (64 are precious metals) in Canada, you would think they would have some income. They do have $3 million in cash and some royalty income, but very little. Their... more
Updated: Orex Minerals Inc
Orex Minerals is a project generator with an advanced exploration 1 million oz (1 gpt) project in Sweden (Barsele). The problem with this stock is they are trying to spin out the Barsele project into a separate company. If they do that then the stock is... more
Updated: Eco Oro Minerals Corp
Eco Oro Minerals has a late stage project in Colombia they are trying to permit and finance. If they get their mining permit and financing ($500 million capex), this is a possible 15 bagger from their current $51 million FD market cap (at higher gold... more
Updated: Gunpoint Exploration Ltd
Gunpoint Exploration is a project generator with an advanced project in Nevada (Talapoosa). It is a 1 million oz (1 gpt) open pit project with 15 million oz of silver (15 gpt). A PEA should be coming soon. If they can option the project and keep 30%,... more
Updated: Impact Silver Corp
Impact Silver Corp is a small producer (3 underground mines at 140 gpt). Many investors are Impact Silver fans. I'm not because of their low resources (about 10 million oz) and small production (less than 1 million oz). I see them as a 3 bagger going... more
Updated: Gran Colombia Gold Corp
Gran Colombia Gold is a highly undervalued mid tier producer (my definition). In fact, it is one of the most undervalued gold mining stocks on a risk/reward basis. They have large resources (12 million M&I gold) and are targeting 200,000 oz in 2014 and... more
Updated: Lara Exploration Ltd
Lara Exploration is a very good project generator. The only problem with this stock is that it is not precious metals focused. However, with the high price of gold, I would expect this company to focus more on gold. This company has shown the ability to... more
Updated: Chesapeake Gold Corp.
Chesapeake Gold is project generator with an awesome project. They have a huge project in Mexico (Metates) with 19 million oz of gold (1 gpt), 550 million oz of silver (15 gpt), and 4 billion lbs of zinc. With gold production of 750,000 oz for 20+ years,... more
Updated: Detour Gold Corp.
Detour Gold is a solid company. They have a 29 million oz deposit (1 gpt) in Ontario, Canada. Production began in 2013 and will ramp up to 650,000 oz in 2014, and likely 750,000 oz by 2017. For that much production, they only have $500 million in debt. I... more
Updated: East Asia Minerals Corp
East Asia Minerals is an odd company. The stock price went from .10 cents in 2008 to $8.30 in 2010. Then dropped from $6.75 to .27 cents in 2012. They released a 43-101 resource estimate in March 2011 and the stock dropped 50% and continued to drop until... more
Updated: Semafo Inc.
Semafo Inc. is a mid-tier producer in West Africa with a FD market cap of $600 million. Long term this looks like a 3 bagger. They will produce about 230,000 oz in 2013 with cash costs around $800. They have $115 million in cash and not debt. They have 3... more
Updated: Taseko Mines Ltd
Taseko Mines has an advanced stage gold project (Prosperity) in British Columbia. They have a $450 million fully diluted market cap and are forecasting to begin production in 2017 at 200,000 oz per year (adjusted for Franco Nevada gold stream) for 20... more
Updated: Santa Fe Gold Corp.
Santa Fe Gold is a small producer in New Mexico. They have a FD market cap of only $17 million, which is cheap for their potential. They are a high risk / high return stock. They could be 25 bagger or a wash out. I want to like this stock, but there are... more
Updated: China Gold Intl. Resrcs Corp Ltd
China Gold International is an interesting stock if you like copper. Their CSH open pit gold mine is producing 145,000 oz and has 5 million oz of resources, which makes for a very long life mine. They are expanding production to 260,000 oz in 2015. This... more
Updated: Mako Mining Corp.
Golden Reign Resources is project generator with two large properties in Nicaragua. They just began drilling 3 years ago and have found a rare high grade million oz mine. San Albino is 1 million oz of gold (7 gpt) and 1 million oz of silver (10 gpt) with... more
Updated: Mako Mining Corp.
Golden Reign Resources has an advanced high grade (7 pgt) project in Nicaragua (San Albino). They are aggressively moving it towards production. However, they only began drilling it 3 years ago and have only drilled about 100 holes. It is already a 1... more
Updated: Newmont Goldcorp
Newmont Mining is a solid major, although growth will be flat at around 5 million oz until 2016. They have 140 million oz of gold resources and a large pipeline (19 projects in development). Their problem is that they are so big ($14.5 billion fully... more
Updated: Torex Gold Resources Inc
Torex Gold Resources has a large late stage project (Morelos) in Mexico. They have already have found 5 million oz (2.5 gpt) and are likely to find more. They have a $900 million fully diluted market cap, so most of the value is already in the stock... more
Updated: Yamana Gold Inc.
Yamana Gold is a strong major with production of 1.2 million oz of gold, 150 million lbs of copper, and 9 million oz of silver projected for 2013. They are also in solid locations of Brazil, Chile, Argentina, and Mexico. Their balance sheet isn’t too... more
Updated: Perseus Mining Ltd
Perseus Mining is a mid-tier producer. A year ago when I analyzed it, the FD market cap was a $1.3 billion market cap. Today the stock price has dropped 80% and it is down to a FD market cap of $227 million. They will produce about 200,000 oz in 2013,... more
Updated: Salazar Resources Ltd
Salazar Resources has a late stage project (El Domo deposit on their large Curipampa property). If El Domo (600,000 oz at 2.8 gpt) was not in Ecuador, I would like this stock. Three countries I am avoiding are: Venezuela, Bolivia, and Ecuador.... more
Gold Demand / Gold Prices
I read an article on the internet today, where the author said that Chinese gold demand will be the driver for gold prices.
I disagree. China demand is not going anywhere. They are importing boatloads and planeloads every month, and that will continue for the rest of the decade.
The key to gold prices are the US economy and the 10 year US Treasury interest rate. As long as we continue to have low interest rates and steady growth (any growth will do) in the US economy, then gold will... more
Updated: Otis Gold Corp
Otis Gold has huge upside potential, but there is significant risk. They have a FD market cap of only $2.5 million, yet their Kilgore project in Idaho (800,000 oz at .5 gpt) is heading toward production in 2018. Kilgore looks pretty solid. The... more
Updated: Taku Gold Corp
Taku Gold is a project generator with a large land package of 7 properties (160,000 acres) in the Yukon. They also have the Tag Gold project (6,000 acres) in British Columbia, where they drilled 69 holes in 2006 through 2008 and found mineralization in... more
Updated: Newcrest Mining Ltd.
Newcrest Mining is a solid company with production of 2 million oz at 6 operating mines. They have good cash costs of around $750 per oz because of their copper and silver offsets, however all-in costs will be around $1250 per oz in 2013. Those all-in... more
Updated: Midland Exploration Inc.
Midland Exploration is a project generator with 41 properties and 18 projects on 600,000 acres in Quebec and Ontario. They have 5 JVs, including deals with Agnico Eagle, Osisko, and Aurizon. However, none of them are advanced projects. They have a FD... more
Updated: Resolute Mining Ltd.
Resolute Mining is a strong mid-tier producer with three producing mines in Australia and Africa (Mali and Tanzania). One of their mines is going to close in 2014, but they have two others they can build. They have average cash costs ($850 per oz), no... more
Updated: Golden Predator Mining Corp
Northern Tiger Resources is a player in the Yukon. Personally, I prefer ATAC, Kaminak, and Alexco. However, they have some interesting properties and are very cheap ($4 million fully diluted). Their 3 Ace and adjacent Sprogge property (combined 50,000... more
Updated: Pelangio Exploration Inc.
Pelangio Exploration is a relatively new project generator and has three large exploration projects in Ghana (125,000 acres). It looks like they have found a million oz mine (Manfo). The initial resource estimate came out in 2012 at 500,000 oz (1 gpt).... more
Updated: Millrock Resources Inc.
As far as project generators go, Millrock Resources is a good one. They are cheap ($8 million fully diluted market cap) and are poised to grow. They already have 8 JVs and this number should increase over time. They have 9 properties in Alaska (which is... more
Updated: Troy Resources Ltd
Troy Resources is a mid-tier producer (my definition). They appear to have a strong management team who is shareholder focused. They pay a dividend which is impressive for a 100,000 oz (gold equivalent including silver) producer. They also take pride in... more
Updated: Kirkland Lake Gold Ltd
Kirkland Lake Gold is a mid-tier producer in Canada. A year ago I didn’t like it because it wasn’t cheap. Subsequently it has dropped 75% in value and is now very attractive with a FD market cap of $250 million. They have one large property in... more
Updated: Rusoro Mining Ltd.
Rusoro Mining had their large gold mine (17 million oz) in Venezuela nationalized in 2012. It looks dire. Their stock price is down to .0001 cents. That is 4 decimal places. It is basically worthless. They have a claim for $3 billion in an international... more
Updated: Kinross Gold Corp.
Kinross Gold is a major with 2.3 million oz of gold production and 7 million oz of silver. Their all-in costs for 2013 are projected to be around $1150 (cash costs per oz around $800), however I expect them to lose money at $1300 gold because of... more