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News from June 2019

06/15/2019
Analysis  
Updated: Endeavour Mining Corp
Endeavour Mining is a large gold producer in West Africa, with 5 operating mines in 3 countries. Their market cap has jumped to $1.6 billion, so they aren't cheap anymore. They are producing 675,000 oz with all-in costs (free cash flow) around $1150 per...  more
06/15/2019
Analysis  
Updated: Millrock Resources Inc.
Millrock Resources is a project generator focused in North America and Mexico. They have 27 properties and about 7 JVs. These numbers should increase over time. It's still cheap with a $10 million FD market cap because they do not have an advanced...  more
06/15/2019
Analysis  
Updated: Strikepoint Gold Inc
Strikepoint Gold is a project explorer focused in Canada. They have 26 properties in the Yukon on 700,000 acres. All they had to pay was 10 million shares to IDM Mining. They also have two early exploration projects in Ontario, Canada. Lobstick (3,000...  more
06/15/2019
Analysis  
Updated: Argentum Silver Corp
Argentum Silver has two early exploration projects in Mexico. Coyote (2,500 acres) and Victoria (7,500 acres) are both early exploration. Eric Sprott owns 50% of the shares and may fund drilling. There appears to be some past silver production on both...  more
06/14/2019
Analysis  
Updated: Rio2 Ltd
Rio2 Ltd (recent takeover of Atacama Pacific Gold) has a large gold project (Fenix / Cerro Maricunga) in Chile. It is a 5 million oz, low grade (.4 gpt) oxide surface mine (80% recovery rate). They released a PFS in 2014 to mine 250,000 oz per year. The...  more
06/14/2019
Analysis  
Updated: Great Panther Mining
Great Panther Mining (formerly Great Panther Silver) is a mid-tier producer in Mexico. They have two producing mines in Mexico that produce 90% precious metals (silver and gold) and one producing gold mine in Brazil (Tucano). They used to be mostly a...  more
06/13/2019
Analysis  
Updated: Antler Gold Inc
Antler Gold is a new project generator focused in Canada (formed in 2016). They have a project (Wilding Lake) in Newfoundland (a good location) on 50,000 acres. Early trenching has been promising and they have been able to raise money for drilling....  more
06/13/2019
Analysis  
Added: Matador Mining Ltd
Matador Mining is a project generator focused in Canada. They have a single project (Cape Ray) in Newfoundland. The odd thing is that it is an Australian company and the stock currently does not trade in Canada. It is a very good project, with 1 million...  more
06/12/2019
Analysis  
Added: Ethos Gold Corp
Ethos Gold is a project generator focused in Canada, Nevada, and Mexico. They have five early exploration projects and no discovery as yet. One of them is Vanadium project, the others are gold projects. They are cashed up with $5 million and will be...  more
06/11/2019
Analysis  
Updated: Glen Eagle Resources Inc
Glen Eagle Resources is a small gold producer in Honduras. They do not list their resources or give guidance for production in 2019. They recently obtained a property (La Cobra) in Honduras that has significant past production. They received the property...  more
06/11/2019
General  
New SeekingAlpha Article: Pan American Silver
https://seekingalpha.com/article/4269640-pan-american-silver-quality-silver-producer  more
06/10/2019
Analysis  
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 4 JVs, one in Kosovo, Germany, and...  more
06/09/2019
Analysis  
Updated: Maple Gold Mines Ltd.
Maple Gold Mines (previously Aurvista Gold) has a large 3.3 million oz (1.1 gpt) resource (most of it is inferred) in Quebec. Their new CEO announced his intention to sell the project, with this statement: "The team is now focused on making Maple Gold...  more
06/09/2019
Analysis  
Updated: Mineral Mountain Resources Ltd
Mineral Mountain Resources is a new company with a gold project in South Dakota. They have a good management and technical team, led by Nelson Baker, the ex CEO of Rainy River. They are currently drilling their Rochford project (7,500 acres). It is 15...  more
06/09/2019
Analysis  
Updated: Silvercorp Metals Inc
Silvercorp Metals is a mid-tier producer in China. They have large resources with 250 million oz at 200 gpt. Their cash costs for 2018 were under $3 per oz. All-in costs were about $6 per oz (free cash flow). Thus, they are profitable at very low silver...  more
06/09/2019
Analysis  
Updated: Vista Gold Corp.
Vista Gold has a large project in Australia called Mt Todd (8 million oz at .8 gpt, with 90% recovery rate). They are currently looking for a partner to help finance the project. They might even sell for a small premium. This is a property that a major...  more
06/09/2019
Analysis  
Updated: Pan Andean Minerals Ltd
Pan Andean Minerals (formerly BCGold Corp) is small project generator based in Canada. They have a large property (13,000 acres) in Peru (Chanape / Pucacorral) that they recently obtained. It is currently their focus. Past drill results have been...  more
06/09/2019
Analysis  
Updated: Eurasia Mining Plc
Eurasia Mining is mostly a PGM (Platinum group metals) focused company in Russia. They have cash flow from a small platinum mine (West Kytlin), but only about 4,000 oz per year. They are trying to build a larger mine with 2 million oz of palladium...  more
06/08/2019
Analysis  
Updated: Calibre Mining Corp
Calibre Mining is a project generator in Nicaragua. They have 8 early exploration properties in Nicaragua and 2 are JVs. I like their JV partners. IAMGold will spend $3 million over the next 2 years drilling the Borosi project (42,000 acres). They have...  more
06/08/2019
Analysis  
Updated: Condor Resources Inc.
Condor Resources is a project generator focused in Peru. They have 7 properties and 2 JVs, all of which are early stage exploration. Currently they are drilling two projects, which they hope to JV. They have a low FD market cap of $4 million, so one...  more
06/08/2019
Analysis  
Updated: Gogold Resources Inc.
GoGold Resources is a silver producer in Mexico. They will produce 1.5 million oz of silver equivalent (including gold) in 2019 with all-in costs around $10 per oz (last quarter they had $2 million in free cash flow). They plan to spend $5 million to...  more
06/08/2019
Analysis  
Updated: Oceanagold Corp.
OceanaGold is a large mid-tier producer. They have 12 million oz in resources (1.2 gpt) and will produce 500,000 oz in 2019 with all-in costs $1100 to $1200 per oz. They are not cheap, with an FD market cap of $1.7 billion and future reserves valued at $1  more
06/08/2019
Analysis  
Updated: Atico Mining Corp
Atico Mining is a small copper/gold producer in Colombia. They are profitable, with all-in costs around $800 per oz, and they have a decent balance sheet. Plus, they have a new discovery. Recent drill holes have been impressive: 109 meters at 3.8 gpt,...  more
06/08/2019
Analysis  
Updated: Barsele Minerals Corp
Barsele Minerals was a recent spin-out from Orex Minerals. They have a single project, which is the Barsele gold project in Sweden. It is currently a 2.5 million oz (2.7 gpt) open pit and underground project. They have a JV with Agnico Eagle, who has an...  more
06/07/2019
Analysis  
Updated: Pan American Silver Corp.
Pan American Silver is one of the best silver producers. They get about half of their revenue from silver production, about a quarter from gold, and the rest in base metals (zinc, lead, and copper). They recently acquired Tahoe Resources. Amazingly,...  more
06/06/2019
Analysis  
Updated: Silver Mines Ltd.
Silver Mines Ltd is perhaps largest pure silver miner in Australia. They recently purchased the Bowdens project, which is the largest undeveloped silver project in Australia (150 million oz). It is low grade (50 gpt), but has zinc and lead offsets....  more
06/06/2019
Analysis  
Updated: Jaxon Mining Inc
Jaxon Minerals is a project generator focused on the Golden Triangle in British Columbia, Canada. They have two projects (Hazelton and More Creek) that are ready for drilling. Hazelton is more advanced and on 120,000 acres, they recently drilled in one...  more
06/05/2019
Analysis  
Updated: Sabina Gold & Silver Corp
Sabina Gold & Silver has a large high-grade gold project in Canada. The Back River project has 7 million oz (6 gpt) and significant exploration potential. The feasibility study calls for 200,000 oz of production annually at 3,000 tpd. The capex is $325...  more
06/05/2019
General  
New Seeking Alpha: McEwen Mining
https://seekingalpha.com/article/4268388-mcewen-mining-mid-tier-gold-silver-producer  more
06/04/2019
Analysis  
Updated: Silver Lake Resources Ltd..
Silver Lake Resources is a mid-tier gold producer in Australia. They have a solid flagship property (Mount Monger) with 3 million oz and all-in costs around $1200 per oz. Plus, several exploration and development projects. Production was 150,000 oz in...  more
06/04/2019
Analysis  
Updated: Aztec Minerals Corp
Aztec Minerals is a new exploration company with two projects. Their Cervantes gold project (8,000 acres) is a recent discovery in Mexico, with initial drilling in 2017 and 2018. They have to be excited about the drill results (160 meters at .77 gpt, 139...  more
06/03/2019
Analysis  
Updated: Tanzanian Gold Corp.
Tanzanian Gold Corp (formerly 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. In 2013,  more
06/02/2019
Analysis  
Updated: Genesis Metals Corp
Genesis Metals is project generator focused in Canada. They have two exciting gold properties in Quebec. Both are 100% owned. Chevrier (65,000 acres) is a gold discovery that they are drilling. It is already 700,000 oz at 2 gpt and appears to have much...  more
06/02/2019
Analysis  
Updated: Tower Resources Ltd
Tower Resources is an exploration company focused in Canada (British Columbia). They have 3 properties on 70,000 acres. Their More Creek project is located in the Golden Triangle and could be a potential gold discovery based on soil samples. They also...  more
06/02/2019
Analysis  
Updated: Nxgold Ltd
NxGold Ltd (formerly Lancaster Capital) is a new company formed in 2016. They have two early exploration gold projects. Their 10,000 acre Kuulu property in Nunavut has a $35 million option to obtain 70%. They must make steady large payments, which seems...  more
06/02/2019
Analysis  
Updated: Spearmint Resources Inc
Spearmint Resources has 5 early exploration gold projects in Canada. Several of them are in the golden triangle. It does not appear that they have done much drilling and are low on cash. They seem to currently be focusing on their base metals projects (Li  more
06/02/2019
Analysis  
Added: Barrian Mining Corp.
Barrian Mining is a new company formed in 2019. They have an early exploration project in Nevada (Bolo). It's on 3500 acres and has 65 drill holes. It's a possible discovery with a discovery hole (133 meters at 1.2 gpt). They plan to drill in 2019 and...  more
06/02/2019
Analysis  
Added: Compass Gold Corp
Compass Gold is a project generator focused in West Africa (Mali). They have a large property (Sikasso) with 50 drill targets. They have drilled 2500 holes and appear to have found a mine. They have had a lot of good drill results. They are cashed up ($2...  more
06/02/2019
General  
May 2019 Newsletter Posted
The May 2019 newsletter has just been posted.  more
06/01/2019
Analysis  
Updated: Matsa Resources
Matsa Resources is a new small gold producer in Australia. They only have 450,000 oz (2.2 gpt), so they are dependent on exploration success. They have 4 projects on 150,000 acres. They have two operating open pit mines (Fortitude and Red October) on...  more
06/01/2019
Analysis  
Updated: Goldstrike Resources Ltd
Goldstrike Resources is a project generator in the Yukon. They have a large property (Plateau) that appears to have a large gold discovery. Trenching and soil samples have confirmed a 4-mile trend, which is a very large drilling target. Newmont Mining...  more


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