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News from March 2016
Updated: Rusoro Mining Ltd.
Rusoro Mining had their large gold mine (17 million oz) in Venezuela nationalized in 2012. Currently it is under arbitration at the World Bank's court. It doesn't look good, but the stock has jumped from 2 cents to 8 cents, and now has a FD market cap of... more
Updated: Otis Gold Corp
Otis Gold has upside potential, but there is risk. They have a FD market cap of $17 million, yet their Kilgore project in Idaho (800,000 oz at .5 gpt) could be heading toward production in 2020. Kilgore looks pretty solid. The infrastructure is excellent... more
Updated: Resolute Mining Ltd.
Resolute Mining is a strong mid-tier producer (315,000 oz of production) with four producing mines in West Africa (Mali) and Australia. They have moderate cash costs ($750 per oz), with about $1100 all-in costs per oz. A good balance sheet with $86... more
Updated: Cordoba Minerals Corp
Cordoba Minerals is a project generator with a single large property in Colombia. San Matias is on 50,000 acres and already has three discoveries from early drilling. One of the holes was 140 meters at .4 gpt, plus .6% copper. Another hole was 123 meters... more
Updated: Orex Minerals Inc
Orex Minerals is a project generator with two interesting projects. Coneto in Mexico is a 30% JV with Fresnillo with a target of 100 million oz of silver equivalent. Fresnillo is drilling and must spend $21 million to get their option. Sandra in Mexico... more
Updated: Harmony Gold Mining Co.
Harmony Mining is an emerging major with most of its mines in South Africa. It's too bad they are located in politically risky South Africa. If their mines were based in a mining friendly nation, their stock price would be triple it's current price. They... more
Updated: Ascot Resources Ltd.
Ascot Resources has two nice projects. Their Dilworth/Premier project is a gold and silver surface mine in Canada (British Columbia). It is a 2.6 million oz gold resource (.7 gpt), plus 18 million oz of silver (4 gpt). However, recent drill results (572... more
Updated: West Red Lake Gold Mines Inc
West Red Lake Gold mines has three properties (7,500 acres) in a good location: the Red Lake district in Ontario, Canada. It is next door to Rubicon Minerals. They are drilling 3 projects on their Red Lake property: Mount Jamie, Rowan Lake, and Red... more
Updated: Majestic Gold Corp
Majestic Gold is a small producer in China. They are currently producing 15,000 oz (their 70% share) and should reach full production of 70,000 oz (their share) in about 2 years (they need to resettle two villages). Their Song Jiagou flagship project in... more
Updated: Osisko Gold Royalties Ltd
Osisko Gold Royalties has two long term NSR deals with two large mines in Canada: Canadian Malartic (5%) and Eleanor (2% to 3%). Combined these two mines will produce more than 800,000 oz for a long time. This is why they have a market cap of $1.1... more
Updated: Mirasol Resources Ltd.
Mirasol Resources is a project generator with a lot of cash and investments ($18 million). They do not currently have an advanced project, but they have 10 properties in Chile and 20 in Argentina with only 1 JV (Rubi copper/gold project). They sold their... more
Updated: Aura Minerals Inc.
Aura Minerals is primarily a copper producer. Their Aranzazu copper mine in Mexico was scheduled to produce 18 million lbs in 2014 (however, they put it on care & maintenance because of low copper prices). Plus, they have another large copper mine (Serrot more
Updated: Harte Gold Corp
Harte Gold is developing a small high grade project. Their Sugar Zone property (75,000 acres) in Ontario, Canada has a high grade (9 gpt) 500,000 oz open pit resource that could double in size. They plan to do a 25,000 oz bulk sample in 2016 to raise... more
Updated: PPX Mining Corp
Peruvian Precious Metals has a pretty good project in Peru. They are drilling three deposits on their Igor project. So far they have found 930,000 oz of gold equivalent (including silver) at pretty good grades (2 gpt gold and 70 gpt silver). Although... more
Updated: DELETE - Avesoro Resources Inc
Aureus Mining is a new mid-tier producer. They have a large properties in West Africa (Liberia) on 400,000 acres. The New Liberty gold project is high grade surface deposit (1.7 million oz at 3 gpt). They have several targets to increase this total. They... more
Updated: Asanko Gold Inc
Asanko Gold (formerly Keegan Resources) is a new mid-tier producer in West Africa (Ghana). They have two flagship projects and are heading to 400,000 oz of production. Their 3 million oz Nkran open pit project is producing 200,000 oz at $650 per oz cash... more
Updated: Serabi Gold
Serabi Mining is a new small producer in Brazil. They are one of the few stocks today that are not cheap. They have a FD market cap of $50 million and a deposit of only 700,000 oz (7 gpt). They will produce 32,000 oz in 2016 from their Palito and Sao... more
Updated: Orosur Mining Inc
Orosur Mining is a producer in Uruguay at 35,000 oz per year. Their all-in costs are around $1200 per oz. The San Gregorio mine is low on resources (700,000 oz), but they find more through exploration. The also have two other projects they are drilling.... more
Updated: Golden Valley Mines
Golden Valley Mines is a project generator with 45 gold properties and another 35 base metals properties in Canada. They have been in business for 10 years and are starting to get some results. They have three joint ventures in the Abitibi Greenstone... more
Updated: Bonterra Resources Inc
BonTerra Resources is a new project generator focusing in Quebec. They have 3 properties (Gladiator, Urban-Barry, Lavoie) on 6500 acres that are all next to each other. Fifty-nine holes were drilled in the 1990s, and then they obtained the property and... more
Updated: Slam Exploration Ltd.
Slam Exploration is a project generator focused in Canada with large land holdings in Ontario and New Brunswick. They have a gold discovery in New Brunswick called Menneval (75,000 acres) and have drilled 64 holes. They have found a high grade vein that... more
Updated: Trans-Siberian Gold Plc
Trans-Siberian Gold is a small producer in Russia. They only have an 800,000 resource (Asacha), but it is high grade with low cash costs ($600 per oz). They do have a lot of debt ($20 million), but as long as the spend their cash carefully ($8 million),... more
Updated: Belo Sun Mining Corp
Belo Sun Mining is developing a very large open pit project in Brazil called Volta Grande (330,000 acres). It is a 6 million oz open pit project (1 gpt). The feasibility study was released in March 2015. The capex is $300 million capex to produce 200,000... more
Updated: Goldquest Mining Corp
Goldquest Mining has a large discovery in the Dominican Republic. They released a solid drill hole in May 2012 of 231 meters at 2.4 gpt. That single drill hole pushed the stock from 7 cents to $1. Then they released a monster hole of 258 meters at 4.5... more
Updated: Unigold Inc.
Unigold Inc has a large gold discovery in the Dominican Republic. The Candelones project (50,000 acres) is approaching late stage development. They have already found 2 million oz at 1.5 gpt (inferred) and have 25 more targets. They need to release a PEA... more
Updated: Millennium Minerals Ltd.
Millennium Minerals is a mid-tier producer in Australia (my definition). They have somewhat low resources at around 1.2 million oz. I have padded it to 1.5 million in my analysis because they are drilling 100,000 meters in 2016 and have 20+ targets. They... more
Updated: First Mining Gold
First Mining Finance is a new company created in 2014 by Keith Nuemeyer the CEO of First Majestic Silver. He originally populated it with 16 projects in Mexico on 500,000 acres. His goal is to grow the company by creating JV deals, royalty streams,... more
Added: Kefi Minerals Plc
Kefi Minerals has an exciting project in Ethiopia. The Tula Kapi open pit and underground project has 1.7 million oz and is growing in size. The PEA is economic with low cash costs around $600 per oz. The capex is high at $120 million, but will likely... more
Updated: Triumph Gold Corp
Northern Freegold is project generator in the Yukon. They have drilled about 3% of their flagship Freegold Mountain project (Yukon, Canada) and already have a 2.4 million oz resource (75% recovery) at .5 gpt (along with 10 million oz of silver and 250... more
Updated: Northern Dynasty Minerals Ltd
Northern Dynasty currently own 100% of the Pebble project in Alaska. Over $750 million has been spent, yet N. Dynasty's market cap is $84 million fully diluted. And they have no debt and $10 million in cash. Plus, they have 10 billion tons of copper and... more
Updated: New Pacific Metals Corp
New Pacific Metals is a new company. They are cashed up with $18 million in the bank. There were drilling a high grade silver project in China called RZY, but stopped. They have decided to following the First Mining Finance strategy of buying and holding... more
Updated: SilverCrest Metals Inc.
Silvercrest Metals arose from the Silvercrest Mining and First Majestic merger in 2015. Four early exploration projects were spun out. They have $5 million in cash and will begin drilling in 2016. The CEO thinks that Las Chispas ($4 million option) could... more
Updated: Focus Minerals Ltd.
Focus Minerals was a mid-tier producer in Australia, but they halted production in 2013 due to high cash costs. They are hoping to resume production at much lower cash costs. My guess is once gold passes $1400, they will resume production. They have two... more
Updated: Dragon Mining Ltd.
Dragon Mining is a small gold producer in Sweden and Finland. They have 4 million oz's of gold and are producing 50,000 oz a year. They made a profit last year, and have $10 million in cash with no debt. Their all-in costs are around $1200 per oz.... more
Updated: Anaconda Mining Inc
Anaconda Mining is a small producer in Canada. They are only producing about 15,000 oz per year at their Pine Cove project in Newfoundland, with all-in costs around $1200 to $1300 per oz. So they are currently marginally profitable. But they don't have... more
Updated: Josemaria Resources Inc.
NGEx Resources has three large copper/gold/silver projects in Argentina. The have FD market cap of $113 million, which is very cheap based on their potential. The key is going to be financing and copper demand. Their first project called Los Helados has... more
Added: Blackham Resources Ltd
Blackham Resources is a near-term producer in Australia. They are highly undervalued with a FD market cap of $86 million. They have an 800,000 oz open pit project (Matilda) that will begin production in 2016. They will produce 100,000 oz at about $1100... more
Updated: Xtra-Gold Resources Corp
Xtra-Gold is a project generator with one property in Ghana (West Africa). The Kibi project has significant potential. It is on 55,000 acres and has 4 deposits that they are drilling. Zone 2 had a 43-101 resource estimate in 2012 of 400,000 oz at 2 gpt (n more