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News from May 2019

05/31/2019
Analysis  
Updated: Mcewen Mining Inc
McEwen Mining is a mid-tier gold and silver producer. In 2019, they will produce about 200,000 oz of gold equivalent. They have four operating mines in Canada, Nevada, Mexico, and Argentina. Currently, they are losing money with all-in costs around $1300...  more
05/31/2019
Analysis  
Updated: Mcewen Mining Inc
McEwen Mining is a mid-tier gold and silver producer. In 2018, they will produce about 200,000 oz of gold equivalent. They have four operating mines in Canada, Nevada, Mexico, and Argentina. Currently, they are losing money with all-in costs around $1300...  more
05/30/2019
Analysis  
Updated: Auryn Resources Inc
Auryn Resources is a new company, but an experienced management team that came from Cayden Resources. They recently obtained the large (150-mile trend) Committee Bay project in Nunavut, Canada. It's in an infrastructure challenged area, but it has high-gr  more
05/30/2019
Analysis  
Updated: Theta Gold Mines Ltd
Theta Gold Mines (previously Stonewall Resources) is trying to become a gold producer in South Africa. They recently announced a 5 million oz high-grade resource and investors ignored them. They have an FD market cap of $30 million. Their problem is the...  more
05/29/2019
Analysis  
Updated: Azimut Exploration Inc.
Azimut Exploration is a project generator focused in Northern Quebec. The upside is unknown because all of their projects are early stage. They have 4 JVs with solid companies (Goldcorp, Hecla, Eastmain, and Everton) and 1.5 million acres of exploration...  more
05/29/2019
Analysis  
Updated: Callinex Mines Inc
Callinex Mines is a project generator focused in Canada. They are really a zinc exploration company with 4 zinc projects totalling 2.6 billion lbs of zinc eq. They might even be a development company, with guidance of production at their Nash Creek (New...  more
05/29/2019
Analysis  
Updated: Abacus Mining & Exploration Corp
Abacus Mining and Exploration has a 20% interest in a large copper/gold project in Canada (British Columbia). The Ajax project has 2.7 billion lbs of copper and 2.6 million oz of gold reserves. They plan to produce 58,000 tons of copper and 125,000 oz of...  more
05/27/2019
Analysis  
Updated: Silver Range Resources Ltd
Silver Range Resources is a new spinout from Strategic Metals, which owns 18%. They have 41 projects Canada: Yukon (4), Nunavut (15), NWT (5), Nevada (17). All of their projects are early exploration and the reason for their low valuation. Silver...  more
05/27/2019
Analysis  
Updated: Impact Minerals Ltd.
Impact Minerals is a project generator focused in Australia. Their Commonwealth project (2,000 acres) is a small gold discovery (less than 100,000 oz) at 2.8 gpt, plus 48 gpt silver. They think it could be a large system and has a lot of drill target...  more
05/27/2019
Analysis  
Updated: Riversgold Ltd
Riversgold Ltd is a new project generator that formed in 2017. They have an aggressive management team with projects in Australia (8 properties), Alaska (3 properties), and Cambodia (4 properties). All of them are early exploration with very little...  more
05/27/2019
Analysis  
Updated: Plato Gold
Plato Gold is a project generator. They have 4 early exploration projects in Ontario, Canada. They are small properties, but in a good location. Osisko Mining holds 80% of Harker (400 acres) and 50% of Guibord. Their other two are Holloway (400 acres)...  more
05/26/2019
Analysis  
Updated: Goldquest Mining Corp
Goldquest Mining has an advanced gold project in the Dominican Republic. The Romero project is 2 million oz at 2.5 gpt with a 28% after-tax IRR at $1300 gold. The capex is $158 million. Cash costs are projected to be around $500 per oz with copper, zinc,...  more
05/26/2019
Analysis  
Updated: Lydian Intl. Ltd.
Lydian International has an excellent gold project (Amulsar) in Armenia. It is a 5 million oz resource (3.5 million M&I at .7 gpt). The deposit is near surface oxides, which are low cost to mine. Production was scheduled for Q4 2018, with a target of 225,  more
05/26/2019
Analysis  
Updated: Western Copper & Gold Corp.
Western Copper and Gold has a huge copper/gold project in Canada (Yukon) called Casino. I think it is too big for them to build with a capex of $2.5 billion. The feasibility was completed back in 2013 and permitting is ongoing. They do not appear to be...  more
05/26/2019
Analysis  
Updated: Skeena Resources Ltd
Skeena Resources is a project generator in Canada. They have 3 projects in the golden triangle in northern British Columbia. They seem to have a good management team and are making progress on all three projects. They have about $1 million in cash and...  more
05/26/2019
Analysis  
Updated: Sonoro Metals Corp
Sonoro Metals is a project generator focusing on gold. Their management team is from Pediment Gold, which sold their company to Argonaut Gold several years ago. They have 3 properties in Mexico that are all early exploration. Their current focus is...  more
05/26/2019
Analysis  
Updated: De Grey Mining Ltd.
De Grey Mining has an open pit gold project in Australia. Their Pilbara project is large with 250,000 acres and is 60 miles long. It has a lot of exploration potential. Currently, they have 1.4 million oz at 1.6 gpt. Their target is 3 million oz. They...  more
05/26/2019
Analysis  
Updated: Honey Badger Exploration
Honey Badger Exploration is a project generator focused in Canada. They have three high-grade silver properties in Ontario. They were mined in the 1800s, but have not been drilled by modern methods. Silver Mountain-Mink, Beaver, and Lilly are on 75,000...  more
05/25/2019
Analysis  
Updated: Coral Gold Resources Ltd.
Coral Gold had an excellent project in Nevada called Robertson (2.7 million oz). They sold it to Barrick Gold for $15 million, plus a small NSR. Now all they have left are three small early exploration gold projects in Nevada, plus the future cash flow...  more
05/25/2019
Analysis  
Updated: Klondike Silver Corp
Klondike Silver is trying to advance a small high-grade silver project in Canada. They have the 30,000 acre Slocan Camp in British Columbia that has 25 past producing mines on it. They have a mill and are trying to restart the Silvana mine, which...  more
05/25/2019
Analysis  
Updated: Candelaria Mining Corp
Candelaria Mining is focused in Mexico. They purchased the Caballo Blanco project from Timmins Gold in 2016. They are currently trying to permit it with the goal of near-term production. It is a 600,000 oz (.6 gpt) open pit with an after-tax IRR around...  more
05/25/2019
Analysis  
Updated: Komet Resources Inc
Komet Resources was a small gold producer in West Africa (Burkina Faso). Their Guiro project was a small high-grade (8 gpt) underground mine with low cash costs. They sold it for $1 million in 2018, plus the elimination of their debt. They are now...  more
05/25/2019
Analysis  
Updated: ValOre Metals Corp.
ValOre Metals (formerly Kivalliq Energy) has a large (1 million acres) gold exploration project (Baffin) in Nunavut, Canada. It has an 80-mile strike with many drill targets. It looks like they are going to find a mine. They have a lot of exploration...  more
05/23/2019
Analysis  
Updated: Pinecrest Resources Ltd
Pinecrest Resources has a gold project (Enchi) in Ghana, West Africa. The resource size is 1.5 million oz at .65 gpt, and will likely grow in size. It is a large property (140,000 acres) with a lot of drilling targets. They completed a PEA in 2015 for a...  more
05/23/2019
Analysis  
Updated: Lundin Gold Inc
Lundin Gold obtained the Fruta Del Norte from Kinross for $240 million. Fruta is a huge high-grade open pit (9 million oz at 8 gpt). Kinross paid $1.2 billion for it from Aurelian Resources. Kinross did a pre-feasibility study to produce 400,000 oz for...  more
05/23/2019
Analysis  
Updated: Galileo Exploration
Galileo Exploration is a project generator focused in Nevada. They had two projects but had to sell one of them due to financial difficulties: the Majuba Hills, a past producing high-grade copper mine. All they have now is the Signal gold project...  more
05/22/2019
Analysis  
Updated: Industrias Penoles NPV
Industria Penoles owns 75% of Fresnillo, which is one of the largest silver and gold producers in the world. They claim most of that production in their financials (Fresnillo is listed as a subsidiary), so I'm a bit confused. Fresnillo has a separate...  more
05/21/2019
Analysis  
Updated: Erris Resources
Erris Resources is a project generator focused in Europe. They have JV deal with Centerra on 3 properties in Sweden (75,000 acres). Centerra is currently drilling and can earn 70%. Klippen is a potential discovery with a 6-mile strike. They also have...  more
05/20/2019
Analysis  
Updated: Intl. Prospect Ventures
Intl. Prospect Ventures is a project generator focused in Western Australia. They have 8 properties in the Pilbara on 220,000 acres. All of them are early exploration. Their properties are spread out over 5 areas. They are all named after hockey teams (Ha  more
05/19/2019
Analysis  
Updated: Eastmain Resources Inc
Eastmain Resources is advancing a large high-grade gold project in Canada. Investors don't seem to believe they can take it to production. They have an FD market cap of only $21 million, yet their project is in a great location to produce 80,000 oz for...  more
05/19/2019
Analysis  
Updated: Anglo Asian Mining Plc
Anglo Asian Mining is a gold producer in Azerbaijan. Production is projected at about 70,000 oz in 2019, with all-in costs around $800 per oz (free cash flow). Their Gedabek has both an open pit and underground mine. Resources are about 1 million oz....  more
05/19/2019
Analysis  
Updated: RNC Minerals
RNC Minerals (previously Royal Nickel) is a small gold, copper, nickel producer in Australia and Canada. They have low resources for their $147 million FD market cap. They will produce about 40,000 oz of gold in 2019 (Beta Hunt), but it will require...  more
05/19/2019
Analysis  
Updated: Canadian Orebodies Inc.
Canadian Orebodies is a project generator focused in Canada (Ontario). They have three early exploration projects in Ontario, Canada on 70,000 acres. It's a new company, and they made their first discovery (Black Raven) in 2017 after drilling 22 holes (18  more
05/19/2019
Analysis  
Updated: Cygnus Gold
Cygnus Gold is a project generator focused in Western Australia. They are a new company that has acquired a lot of properties at very little cost. They have over 1 million acres on about 12 properties, but no debt or option obligations. They already have...  more
05/18/2019
Analysis  
Updated: Evolution Mining Ltd
Evolution Mining is a large gold producer in Australia. They have seven producing mines and will produce about 700,000 oz in 2019. They have low cash costs (about $600 per oz) and are very profitable. They have $225 million in debt, but plenty of cash...  more
05/18/2019
Analysis  
Updated: Kootenay Silver Inc
Kootenay Silver (previously Kootenay Gold) is a project generator focused in Mexico. After their acquisition of International Northair (April 2016), they have 14 properties and 4 JV deals. Their flagship project is Promontorio, which is a 115 million oz...  more
05/18/2019
Analysis  
Updated: Robex Resources Inc.
Robex Resources is a small gold producer in West Africa. They have an excellent property called Nampala (1.5 million oz at .7 gpt and growing). The problem is the location (Mali), which limits the upside potential. All of Robex projects are in the south,...  more
05/18/2019
Analysis  
Updated: St. Augustine Gold & Copper Ltd
St. Augustine Gold & Copper has a very large project in the Philippines (King-king). It is primarily a copper project with gold offsets. The stock price has crashed to 1.5 cents because of political events in the Philippines. The President has been anti-m  more
05/18/2019
Analysis  
Updated: Minaurum Gold Inc
Minaurum Gold is a project generator with 5 projects in Mexico. They have an experienced team and a very good Board of Directors. They recently made a high-grade silver discovery on their Alamos property (90,000 acres), which has numerous drill targets....  more
05/18/2019
Analysis  
Updated: Royal Road Minerals Ltd.
Royal Road Minerals is a project generator focused in Colombia and Nicaragua. They don't have any discoveries yet. However, they have a pretty good management team that comes from Lydian International. They have had several discoveries in the past,...  more
05/18/2019
Analysis  
Updated: Orecorp Ltd
Orecorp Ltd. has an excellent gold project in Tanzania. The Nyanzaga deposit is a 3 million high-grade surface and underground mine. Acacia Mining has a 60-day option to retain 75% after the feasibility is completed. Otherwise, they will get 51%. The...  more
05/18/2019
Analysis  
Updated: Blackrock Gold
Black Rock Gold is a project generator. They have a gold project (Silver Cloud) in Nevada on 10,000 acres. The property was drilled by Teck and Placer between 1999 and 2002 which discovered three interesting holes (145 g/t Au over 1.5 meters, 5.67 g/t Au...  more
05/16/2019
Analysis  
Updated: Awale Resources
Awale Resources is a new company formed in 2016. They are a project generator exploring for gold in West Africa (Cote D'Ivorie). They have 3 properties on 425,000 acres and they have application to expand that to about 1 million acres. They did their...  more
05/15/2019
Analysis  
Updated: Brixton Metals Corp
Brixton Metals is a project generator focused in Canada. They have three early exploration silver projects. The Thorn project (60,000 acres) in northern British Columbia is mostly a silver project, but it also has significant gold, copper, lead, and zinc...  more
05/14/2019
Analysis  
Updated: Nordic Gold
Nordic Gold (previously Firesteel Resources) is a near-term gold producer in Finland. Their Laiva gold mine (10,000 acres) was built by a previous owner for $250 million. They bought it for $20 million in forward gold sales (67,000 oz over 5 years) and...  more
05/13/2019
Analysis  
Updated: Black Mammoth Metals
Black Mammoth Metals is a project generator. They have one early exploration project (after releasing their Coppertonic project in 2018). The Blanco Creek in Idaho has three past producing underground gold mines. It is a potential small gold mine...  more
05/13/2019
Analysis  
Updated: Castle Minerals Ltd
Castle Minerals is a project generator focused on gold. They have a large property (1 million acres) in Ghana called the WA project. It has 200,000 oz and is a potential mine. It is early exploration and in 2018 they considered selling it in order to...  more
05/12/2019
Analysis  
Updated: Minera IRL Ltd
Minera IRL is trying to become mid-tier producer in Peru. It has extreme risk, because they have $82 million in debt and only $2 million in cash. Plus, they need $175 million for the capex of their flagship project (Ollachea in Peru). They had been...  more
05/11/2019
Analysis  
Updated: Jaguar Mining Inc
Jaguar Mining is an emerging mid-tier producer in Brazil with 2 operating mines. Recently they went bankrupt from high costs and high debt. They have now restructured the debt and re-listed their shares. Original shareholders got wiped out and the bond...  more
05/11/2019
Analysis  
Updated: California Gold Mining Inc
California Gold Mining is a project generator. They have two properties that both are potential mines. The Fremont Project in California is close to being advanced, with an 880,000 oz (1.6 gpt) surface deposit, plus significant underground exploration...  more
05/11/2019
Analysis  
Updated: Mexus Gold US
Mexus Gold was a small producer in Mexico. Recently they parted ways with their JV partner at Santa Elena and are going to try and restart and operate the mine on their own. Their goal is to ramp up production from 500 tpd to 1,000 tpd in the near term....  more
05/11/2019
Analysis  
Updated: Theta Gold Mines Ltd
Theta Gold Mines (previously Stonewall Resources) is trying to become a gold producer in South Africa. They recently announced a 5 million oz high-grade resource and investors ignored them. They have an FD market cap of $30 million. Their problem is the...  more
05/09/2019
Analysis  
Updated: Aruma Resources Ltd
Aruma Resources is a gold exploration company focused in Western Australia. They are exploring 4 projects. In Slate Dam (60,000 acres) they completed phase 2 drilling in 2018 which resulted in small sized gold veins. Another project is Beowulf (125,000...  more
05/09/2019
Analysis  
Updated: Minotaur Exploration
Minotaur Exploration is a project generator focused in Australia. They call themselves a copper explorer, although they have some gold properties. They have been around since 2005, but currently do not have a company presentation on their website (other...  more
05/09/2019
Analysis  
Updated: Southern Hemisphere Mining
Southern Hemisphere Mining is a project generator. They have a copper/gold JV in Chile with Hudbay Minerals (a major copper producer), who recently extended its option and is currently drilling. It is very low-grade gold and really a copper project, but...  more
05/08/2019
Analysis  
Updated: Wishbone Gold Plc
Wishbone Gold has an early exploration gold project in Australia. However, they seem to be focusing on working with artisan miners in Honduras and Thailand. It is an odd strategy where they provide equipment in exchange for a lower than spot price for...  more
05/08/2019
Analysis  
Updated: Arrow Minerals Ltd
Arrow Minerals (formerly Segue Resources) is a project generator focused in Western Australia. They have two early exploration gold projects. Barlee is 350,000 acres with 14 drill targets and Strickland shows signs of mineralization, but still far from...  more
05/08/2019
Analysis  
Added: Amex Exploration Inc
Amex Exploration is a project generator focused in Canada. They have a potential high-grade discovery (Perron) in Quebec on 11,000 acres. Most of the drill holes have been narrow, but some are very good (5 meters at 24 gpt, 7 meters at 32 gpt, 10 meters...  more
05/08/2019
General  
New Podcast: MiningStockEducation Interview with Don Durrett. 25 minutes.
https://youtu.be/B9ZHgLaYeos  more
05/07/2019
Analysis  
Added: Egan Street Resources Ltd
Egan Street Resources is advancing a small high-grade gold project in Australia. The recently released a feasibility study to mine about 50,000 oz per year for 7 years. That's a short mine life, so the risk is they cannot extend the mine life. It's...  more
05/06/2019
Analysis  
Added: Dark Horse Resources Ltd
Dark Horse Resources is a project generator focused in Argentina. They have two early exploration gold projects (Las Openas and Cachi). It does not look like they have started drilling either. It appears they are focusing on two lithium projects in...  more
05/05/2019
Analysis  
Updated: Broadway Gold Mining Ltd
Broadway Mining has a potential gold discovery (Madison) in Montana on 2500 acres. The share price exploded in value from 2 cents in 2015 to $1.28 in 2017. However, it has since come all the way back to 8 cents. The market cap has crashed down to $6...  more
05/05/2019
Analysis  
Updated: Goliath Resources
Goliath Resources is a project generator focused in Canada. They have 3 early exploration gold projects in British Columbia. Two of them are in the golden triangle and are possible high-grade discoveries. Bingo (2,500 acres) and Golddigger (37,000 acres)...  more
05/05/2019
Analysis  
Added: Spectrum Metals Ltd
Spectrum Metals is a project explorer focused in Australia. They are currently drilling Penny West, which was a small high-grade open pit. It is early exploration, but the grade has been very high (8 meters at 23 gpt). The key is going to be how much...  more
05/05/2019
Analysis  
Added: Tietto Minerals Ltd
Tietto Minerals is advancing a gold project (Abujar) in West Africa (Cote D'Ivoire). It's a 1.7 million oz (1.4 gpt) resource. They plan to release a pre-feasibility study in 2019, although they are low on cash and it might slip. It seems like their...  more
05/05/2019
Analysis  
Added: Northern Shield Resources Inc
Northern Shield Resources is a project generator focused in Canada. They have several early exploration projects in Nova Scotia and Quebec. Very little drilling has been formed. They are excited about a potential discovery called Shot Rock based on...  more
05/04/2019
Analysis  
Updated: Amarillo Gold Corp
Amarillo Gold has an excellent project in Brazil. The Mara Rosa project (1.3 million oz at 1.6 gpt) is economic (40% after-tax IRR at $1300 gold) with cash costs of only $550 per oz. They need to complete the final feasibility study, which is scheduled...  more
05/04/2019
Analysis  
Updated: Goldmining Inc
Goldmining Inc. (previously Brazil Resources) stated strategy is to acquire advanced stage projects. They have done an incredible job achieving that strategy (although it has not translated into shareholder value yet). In 2012, they acquired the...  more
05/04/2019
Analysis  
Updated: Continental Gold Inc
Continental Gold has excellent properties in Columbia. Their flagship Buritica project is high grade (8 gpt) and is a 11 million oz resource, with more drilling planned. This was a $10 stock in 2011 and today it is $2.00. They have $80 million in cash (al  more
05/04/2019
Analysis  
Updated: Gowest Gold Ltd
Gowest Gold is advancing to production in Canada. They only have one project (North Timmins), but it is large (27,000 acres) and has 15 targets. The Bradshaw deposit is a 1.2 million oz (5 gpt) resource that looks good. It is a high-grade surface and...  more
05/04/2019
Analysis  
Updated: Silver One Resources Inc
Silver One Resources is a new company formed in 2016. In 2017, they acquired the Candalaria project in Nevada from Silver Standard for $4 million in shares, plus a 3% NSR. This project has a historical resource of 40 million oz in M&I at 3.5 opt and 90...  more
05/04/2019
Analysis  
Updated: Broadway Gold Mining Ltd
Broadway Mining has a potential gold discovery (Madison) in Montana on 2500 acres. The share price exploded in value from 2 cents in 2015 to $1.28 in 2017. However, it has since come all the way back to 11 cents. The market cap has crashed down to $6...  more
05/04/2019
Analysis  
Added: Peel Mining Ltd
Peel Mining a project generator focused in Australia. They are mostly a base metals exploration company. However, I added them to the database because their Wagga/Southern Nights property has a significant amount of silver and gold. This is a high-grade...  more
05/03/2019
Analysis  
Updated: ML Gold Corp
ML Gold is an exploration company focused in Canada and Nevada. They focus their efforts on their Stars property, in which they drilled multiple holes with 200-300 meters of visual Chalcopyrite and copper that took the stock up 160% based on its...  more
05/02/2019
Analysis  
Updated: Newmont Goldcorp
Newmont Goldcorp is a solid major, although growth will be flat at around 7 million oz for the next 5 years. They have about 150 million oz of gold resources and a large pipeline (15 projects in development). Their problem is that they are so big ($25...  more
05/02/2019
Analysis  
Updated: Margaux Resources Ltd
Margaux Resources has five early exploration projects in British Columbia. Cassiar (60,000 hectares) is a Gold project with a historical Inferred Resource of 1.04 million ounces of gold (32.4 million tonnes at an average grade of 1.0 g/t gold using a cut-  more
05/01/2019
Analysis  
Updated: Goldplat Plc
Goldplat PLC is a small producer in Kenya, plus they do gold recovery in South Africa and Ghana. The recovery is mostly done on old milling equipment, but they also do some toll milling from tailings and artisan mining. This business gives them cash flow...  more
05/01/2019
General  
April 2019 Newsletter Posted
The April 2019 newsletter has just been posted.  more


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