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News from May 2014
Updated: Eagle Plains Resources Ltd.
Eagle Plains Resources is a project generator in Western Canada that has been around since 1992. They have amassed 35 projects (19 have gold or silver) and have several JV deals. They would have more, but utilize a spin-out strategy once a project... more
Updated: Bayhorse Silver Inc
Bayhorse Silver (formerly Kent Exploration) had a good property (Gnaweeda) and spun it out into a new company (Archean Star). They kept 10 million shares in Archean which are worth about $1 million. That left shareholders with 3 early exploration... more
Updated: Typhoon Exploration Inc
Typhoon Exploration is a gold exploration company that began in 2003. They have 6 properties in Southern Quebec in the Abitibi gold belt. All are early exploration. The Fayolle property (5000 acres) is a gold discovery with 200,000 oz at 1.5 gpt. Their... more
Updated: TNR Gold Corp
TNR Gold is not performing that well for a project generator. They have been around a while, yet they do not have any JVs. They have three projects. The Los Azules copper project has the most potential. This large copper/gold project is owned by McEwen... more
Updated: First Majestic Silver Corp
First Majestic Silver is one of the best silver producers. They have $40 million in cash and no debt. Their all-in costs for 2014 should be around $18, with cash costs about $10. Production is forecasted to grow from 11 million oz (silver equivalent) in... more
Updated: Greencastle Resources Ltd
Greencastle Resources is a new project generator. They have 3 early exploration gold properties. Their main property is Nechako on 30,000 acres in British Columbia. They spun this property into a subsidiary called Deveron Resources. The own 65% with... more
Updated: Hunt Mining Corp
Hunt Mining Corp has 31 properties on 700,000 acres in Santa Cruz, Argentina. All are early exploration. They have been focusing on one property (La Josefina) and have drilled 260 holes. Grading has averaged about 3 gpt at 3 meters, but they have not yet... more
Updated: Kingsgate Consolidated Ltd.
Kingsgate Consolidated is a growing mid-tier producer and a possible 20 bagger. Their market cap has crashed more than 80% since 2011, yet are a 200,000 oz producer. The reason for the crash is $147 million in debt, and high cash costs of $950 per oz.... more
Updated: DELETE - Currie Rose Resources Inc.
Currie Rose Resources currently doesn't have much going for it. They could not raise money in 2013 and I think they lost their option for 3 large properties in South Africa. They do have 2 JV's, but both are for small NSRs. One is in Tanzania (Jubilee... more
Updated: Franco Nevada Corp
Franco Nevada is a royalty company, and a very good one. They're revenue growth is growing at fast rate. They have 46 producing projects with an expected net income around $50 million in 2014. They have an excellent pipeline of 35 advanced stage projects... more
Updated: DELETE - Lincoln Mining Corp
Lincoln Mining Corp. has three advanced late stage projects that appear to be heading for production. And they have a FD market cap of only $4 million. If they can get Pine Grove and Bell Mountain in Nevada into production that should make them a... more
Updated: Braveheart Resources Inc
Rainbow Resources is a new exploration company. They have two projects that are both early exploration. The Big Strike project is several properties on 30,000 acres in Southwest British Columbia. Their other project is called Jewel Ridge in Nevada and is... more
Updated: Carlin Gold Corp.
Carlin Gold Corp. has 3 early exploration properties in Nevada that look promising. Plus, a 50/50 JV with Constantine Metals for 13 projects on 200,000 acres in Yukon, Canada. They have only drilled 7 holes on their properties (Cortez Summit in Nevada).... more
Updated: Tanzanian Gold Corp.
Tanzanian Royalty Exploration has a late stage project (Buckreef) and numerous exploration properties in Tanzania. In fact, they have a 5 year plan to bring 3 projects into production: Buckreef, Itetemia and Kigosi. Their CEO (Jim Sinclair) recently (6/1/ more
Added: DELETE - North Bay Resources Inc
North Bay Gold is basically a project generator, although they call their strategy a generative business model. If they find a mind, they will either do a spinoff or JV deal. In 2014, they are going to spinoff their Ruby mine into Ruby Gold. That will... more
Added: DELETE - North Bay Resources Inc
North Bay Gold is basically a project generator, although they call their strategy a generative business model. If they find a mine, they will either do a spinoff or JV deal. In 2014, they are going to spinoff their Ruby mine into Ruby Gold. That will... more
Updated: Banro Corp.
Banro Corp is a growing mid-tier producer. Other than political risk (Democratic Republic of Congo) and debt issues, this stock is a slam dunk 5 to 10 bagger. They have an incredible amount of gold (possibly 20 million oz) and production just began in... more
Updated: Canarc Resource Corp.
Canarc Resources has an advanced project in Alaska that looks promising. Their New Polaris project is a 1.1 million oz resource, averaging 11 gpt. They have a PEA for 72,000 oz of production for 10 years with low cash costs around $500. The IRR is 38%... more
Updated: Santacruz Silver Mining Ltd
Santacruz Silver Mining is an emerging mid-tier producer. It was an excellent investment two years ago when their market cap was $60 million. At that time it appeared to be a can't miss stock and I had it rated at 3.5. However, once they began producing... more
Updated: Canstar Resources Inc.
Canstar Resources is in the lowest category: Potential Exists. They have a significant property called Mary March that has upside potential. It is near a past producing mine and the geology is very similar. Early drill results have been promising with... more
Updated: Avrupa Minerals Ltd
Avrupa Minerals is a Canadian based Project Generator that is exploring in Europe. They have 12 projects, most of which are primarily base metals (Copper and Tungsten), and are focusing in Portugal and Kosovo. They have 3 JVs, one in Germany and two in... more
Updated: DELETE - Firebird Resources Inc
Firebird Resources has a nice project in South Carolina (three properties). However, they are out of cash and did not drill in 2012 or 2013. Also, the stock price is down to 1 cent and that likely means significant dilution to continue drilling. It is an... more
Bear Creek Mining
Tuesday, May 13, 2014
Title: Bear Creek Announces Favorable Judicial Decision in the Santa Ana Amparo (Consitutional Injunction), Peru
Vancouver, B.C. - Bear Creek Mining (TSX Venture: BCM) ("Bear Creek" or the "Company") is pleased to announce that the Lima First Constitutional Court rendered its ruling regarding the action brought by the Company against the Peruvian government on July 13, 2011, challenging the constitutionality of the Supreme Decree N° 032-2011-EM, which rescinded the... more
Updated: SSR Mining Inc
Silver Standard Resources (SSRI) has significant potential. They could become the leading silver producer long term. Their pipeline is unbelievable and they have 1 billion oz of silver resources and 8 million oz of gold. Plus, they have 1 million acres... more
Silver Standard Suspends Work at Pitarrilla
Pitarrilla is an important development asset in our portfolio with significant mineral resources and mineral reserves. However, with the recent acquisition of the Marigold mine, our resources need to be prioritized appropriately. Additionally, with extraneous factors such as the new Mexican mining tax and royalty regime, prevailing metal prices and the national moratorium on aquifer water drilling, we have decided to postpone major project activity on Pitarrilla at this time. We will consider... more
Updated: DELETE - Quartz Mountain Resources
Quartz Mountain Resources is a high risk / high return stock. It is in the Junior: Potential Exists category, so I don't recommend investing until they find a mine. However, the Buck project has a lot of potential. The property is large at 150,000 acres... more
Updated: Aton Resources Inc
Alexander Nubia International has four early exploration projects in Egypt. They are a Canadian company with 600,000 acres of claims. They have a drill plan to do extensive drilling on two projects (although they are low on cash). One of the projects (Ham more
Updated: Calibre Mining Corp
Calibre Mining appears to me to be a project generator, although they call themselves an exploration and development company. They have 6 early exploration properties in Nicaragua and 3 are JVs. My expectation is that the other 3 will become JVs, but I... more
Updated: Cartier Resources Inc.
Cartier Resources is a small exploration company focusing in Quebec and are in search of finding and building their first mine. I think they could succeed, but it is going to take a long time. They have 5+ gold projects and are exploring aggressively,... more
Updated: Gold Resource Corp.
GORO (Gold Resource Corp) was a great pick in early 2009 when it traded under $3. After they went into production, the stock rocketed to $30 a share in 2011. However, it has now come nearly all the way back. This is also a cautionary tale. They never... more
Updated: Athena Silver Corp
Athena Silver has a good property with 50 million ounces (60 gpt). That equates to about 2 million oz of production for a long life mine. They have a market cap of only $11 million. At $100 silver, the cash flow could be $100 million if they produce 2... more
Updated: DELETE - New World Resource Corp
New World Resource Corp. is a new project generator focusing on Bolivia and Chile. They recently optioned their Lipena copper/gold project in Bolivia and kept 37%. It is still an early exploration project with 400,000 oz of low grade gold (including... more
Updated: Rambler Metals & Mining Plc
Rambler Metals and Mining is a copper and gold producer in Canada. Their cash flow is currently about $10 million and they have a FD market cap of $62 million. They are producing 600 tpd and want to increase production. Most of the production is copper.... more
Updated: Colorado Resources Ltd
Colorado Resources is a relatively new project generator with a lot of targets. They have several large properties (300,000 acres) in British Columbia and the Yukon. They have about $5 million in cash for exploration. Their North Rok project (142 million... more
Updated: Condor Resources Inc.
Condor Resources is a relatively new project generator. They have 13 properties, and 3 JVs, which are early stage exploration (one is a copper JV with BHP). Currently they are drilling two projects, which they hope to JV. I like the locations where they... more
Updated: Angkor Gold Corp
Angkor Gold Corp. is a project generator in Cambodia that is doing pretty good. Whereas most stocks have crashed since 2010, their stock price has held. They are cash flow positive with $1.5 million in the bank and no debt. They made a 10% NSR deal on... more
Updated: DELETE - Rio Silver Inc
Rio Silver Inc. has an exploration project in Peru with some potential, but the risk level is substantial. They have a FD market cap of less than $1 million. Their Ninobamba silver project looks interesting. The original owner of the property drilled 6... more
Added: Hummingbird Resources Ltd
Hummingbird Resources has an advanced open pit gold project in West Africa (Liberia). It looks like a can't miss project. They have a 4 million oz resource and another 140 targets on 500,000 acres. Their Dugbe project is economic and heading toward... more