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News from July 2019

07/31/2019
Analysis  
Updated: Patriot Gold Corp.
Patriot Gold is a small project generator focused in Nevada. They have a 3% NSR for an open pit project (Moss) in Nevada. It is a 700,000 oz resource with cash costs at $500 per oz. Thus, it is should be economic. The Moss mine began production in 2018...  more
07/31/2019
Analysis  
Updated: Apex Resources Inc
Apex Resources has six early stage exploration properties in the Yukon and British Columbia. Their main focus is the Ore Hill gold project and the Mount Anderson project, in which they have recently completed an IP survey with positive results, as well...  more
07/30/2019
Analysis  
Updated: Orezone Gold Corp
Orezone Gold has a late stage project in West Africa (Burkina Faso). Their first mine (Bombore) should begin production in 2021 (if it can be financed). It is a 3.5 million oz (.9 gpt) open pit deposit. They recently had another company analyze the...  more
07/30/2019
Analysis  
Updated: Vior Inc.
Vior Inc (Societe D Exploration Mineire Vior) is a project generator in Quebec, Canada. This is a high risk speculation explorer, but they are in a good location. One of their projects (Vezza) is a high grade discovery with 300,000 oz at 6 gpt. They have...  more
07/29/2019
Analysis  
Updated: Typhoon Exploration Inc
Typhoon Exploration is a gold exploration company that began in 2003. They have 7 properties in Southern Quebec in the Abitibi gold belt, All are early exploration. They previously signed a letter of intent to acquire additional 50% in the Fayolle...  more
07/29/2019
Analysis  
Updated: Pure Gold Mining Inc
Pure Gold Mining has an excellent gold project in Red Lake, Ontario. It is a large property on 12,000 acres and high grade. It is a 2.5 million oz deposit at 8 gpt. Everything about this project looks good. That is probably why Eric Sprott owns 10% of...  more
07/28/2019
Analysis  
Updated: Alexco Resource Corp.
Alexco Resources was a silver producer in the Yukon until 2014. They were producing 1.5 million oz annually at their Bellekeno mine. High costs forced them to put it on care & maintenance. They have an excellent 55,000 acre property (Keno Hill) located...  more
07/28/2019
Analysis  
Updated: AXMIN Inc.
Axmin Inc. is trying to build a gold mine in CAR (Central African Republic). They have a large 3 million oz (2 gpt) surface project called Passendro. The problem is that Passendro has been on hold since 2012 due to rebel activity in the country. However,...  more
07/28/2019
Analysis  
Updated: Radius Gold Inc
Radius Gold is a project generator with early exploration projects in Nevada, Guatemala, and Mexico. They sold their advanced projects for $20 million in 2012 and are now starting over. They have cash in the bank (about $1.5 million) and 4 NSRs that are...  more
07/28/2019
Analysis  
Updated: Artemis Resources Ltd
Artemis Resources is an Australian mining company with several properties in Western Australia on 650,000 acres. None of them have large resources, but the recent discovery by Novo Resources on their 50% Purdy's Reward JV looks interesting. Many of their...  more
07/27/2019
Analysis  
Updated: Bullfrog Gold Corp
Bullfrog Gold has a small open pit project in Nevada (Bullfrog). It is a 700,000 deposit at 1 gpt. It is on a property where Barrick Gold mined 2.3 million oz from 1989 to 1999. I would expect it to have a low capex and be easy to permit. They plan to...  more
07/27/2019
Analysis  
Updated: Endeavour Silver Corp
Endeavour Silver is a silver producer in Mexico. They have 4 high-grade silver/gold producing mines, with expected production of 8 million oz (silver equivalent including gold) in 2019. They are expanding production and reserves, projecting 10 million oz...  more
07/27/2019
Analysis  
Updated: Goldsource Mines Inc
GoldSource Mines is trying to build a small gold mine in Guyana. They had planned to start small and steadily increase production and grow organically. However, low recovery rates and low gold prices created negative cash flow and forced them to change...  more
07/27/2019
Analysis  
Updated: Renaissance Gold Inc
Renaissance Gold is a project generator. They have 22 properties in Nevada and Utah. The company was formed in 2010 when Fronteer Gold purchased AuEx Gold. The AuEx management team received the new company. I think this company has a lot of potential,...  more
07/27/2019
Analysis  
Updated: Thunder Mountain Gold Inc.
Thunder Mountain Gold is small project generator focused in the U.S. They are low on cash and could have trouble raising financing if gold prices remain low. They recently sold their South Mountain project (1200 acres). This will give them about $1...  more
07/27/2019
Analysis  
Updated: Zephyr Minerals Ltd.
Zephyr Minerals is advancing a small high-grade gold project (Dawson) in Colorado. The deposit is currently only 200,000 oz, so they will need exploration success to extend the mine life. They completed a PEA in 2017 and it is economic, with a 50% after-t  more
07/25/2019
Analysis  
Updated: Geopacific Resources Ltd
Geopacific Resources is trying to build a 1.5 million oz (1.5 pt) open pit project (Woodlark Island) in Papua New Guinea. It is permitted, economic (30% after-tax IRR), with a feasibility study. All they need to begin construction is to finance the $125...  more
07/25/2019
Analysis  
Updated: Rockfire Resources
Rockfire Resources is a London based exploration company. They have 3 projects in Australia and 1 in Papua New Guinea. Their Australian projects have had some drilling but no significant discovery yet. Most of their drill holes have been low grade....  more
07/24/2019
Analysis  
Updated: Kerr Mines Inc
Kerr Mines (formerly Armistice Resources) had two very good properties and they were producing 20,000 oz per year in 2013. However, low gold prices killed them. They got into debt and had to sell most of their valuable properties: Larder Lake, Kerr-Addiso  more
07/23/2019
Analysis  
Updated: Mawson Resources Ltd
Mawson Resources is a new project generator focusing in Sweden and Finland. They do not yet have any JV deals, but they have a potential big project in Sweden called Rompas - Rajapalot (42,000 acres). They began initial drilling (4,000 meters) in 2012...  more
07/22/2019
Analysis  
Updated: Blue Star Gold Corp
Blue Star Gold (formerly WPC Resources). Has a high-grade project (Ulu) in the Northwest Territory. It is a historical resources with 800,000 oz at 5 gpt. It is a potential mine. However, Blue Star is out of cash and has made slow progress. I thought...  more
07/21/2019
Analysis  
Updated: Amarc Resources Ltd.
Amarc Resources appears to be a project generator (but they claim to be an exploration and development company). They have one gold project in British Columbia. Newton is a 1.5 million oz deposit with potential. However, it is low grade (.4 gpt) and...  more
07/21/2019
Analysis  
Updated: East Africa Metals Inc
East Africa Metals is a new project generator. They arose from a spin-out from Canaco Resources in 2012. They have three large properties in Tanzania and Ethiopia. The Magambazi project (25,000 acres) is a 30% JV with a Chinese producer. It is a 1...  more
07/21/2019
Analysis  
Updated: Minera Alamos Inc
Minera Alamos is advancing two gold projects (La Fortuna and Santana) in Mexico. La Fortuna (15,000 acres) is only a 300,000 oz deposit, but it is a good grade (2 gpt) open pit. They released a PEA in 2018 with a 90% after-tax IRR. The capex is $27...  more
07/21/2019
Analysis  
Updated: Rupert Resources Ltd
Rupert Resources is trying to restart a gold mine in Finland. The stock rose from 3 cents to 1.08 cents in 2017, and is currently at 62 cents. However, now it has become mostly an exploration play, because they have low resources of only 1 million oz (inf  more
07/20/2019
Analysis  
Updated: Tomagold Corp
Tomagold Corp. is a new project generator in Canada. They have 25,000 acres in Quebec on 6 properties that are all next to each other. They have 3 JV deals with IAMGold, which include Monster Lake, Winchester, and Lac-a-l'eau properties. IAMGold has to...  more
07/20/2019
Analysis  
Updated: Anglogold Ashanti Ltd.
AngloGold Ashanti is one of the largest gold producers. They were cheap in 2018, crashing to $7 per share. This was due to strikes in South Africa and higher cash costs. They resolved those issues and now the stock is back to $19 per shares. The key...  more
07/20/2019
Analysis  
Updated: Medusa Mining Ltd.
Medusa Mining is a mid-tier producer in the Philippines. They plan to produce about 90,000 oz in 2018 (Co-O mine), with cash costs around $600 per oz and all-in costs around $1200 per oz. They have been having problems with grade and higher all-in costs....  more
07/20/2019
Analysis  
Updated: Medusa Mining Ltd.
Medusa Mining is a mid-tier producer in the Philippines. They plan to produce about 100,000 oz in 2019 (Co-O mine), with cash costs around $600 per oz and all-in costs around $1200 per oz. They have been having problems with grade and higher all-in costs.  more
07/20/2019
Analysis  
Updated: Osino Resources
Osino Resources is a new project generator focused in Namibia (South Africa). They acquired Romulus Resources and changed their name in 2018. It's a good management team that used to run Auryx Gold before it was acquired by B2Gold. They have 10...  more
07/20/2019
Analysis  
Updated: Discovery Metals Corp
Discovery Metals is a new project generator focused in Mexico. They have 750,000 acres on two large properties. All of their properties are early exploration, but it appears they have a silver discovery on their Puerto Rico property. They are cashed up...  more
07/18/2019
Analysis  
Updated: Visible Gold Mines Inc
Visible Gold Mines has five early exploration projects in Quebec. They are a new company, with a good management team and a skilled geologist named Robert Sansfacon. In 2011, they drilled 40,000 meters and have spent $10 million on exploration with no...  more
07/18/2019
Analysis  
Updated: Westminster Resources Ltd.
Westminster Resources is a relatively new explorer. They recently acquired multiple copper projects in Peru while still holding their El Cobre, a 50,000 acres project characterized by high grade, gold-copper-silver veins. They were recommended by...  more
07/18/2019
Analysis  
Updated: Chalice Gold Mines Ltd.
Chalice Gold Mines is a project generator based in Australia. They sold their Cameron project to First Mining Finance in 2016 for an 8% ownership in First Mining Finance, plus cash. They also sold a large project in Africa for about $100 million. Then in...  more
07/17/2019
Analysis  
Updated: Southern Arc Minerals Inc
Southern Arc Minerals is a project generator based in Canada. They have had several successful discoveries, but never seem to be able to monetize them into shareholder value. It has been a nightmare for shareholders, with the stock price falling from $20...  more
07/17/2019
Analysis  
Updated: Galway Gold Inc
Galway Gold is a project generator in Colombia. They were created from Galway Resources in 2012, when they were purchased by Aux Resources. They had a single project - the Vetas property. It was the past producing El Volcan mine. It had a 550,000 deposit...  more
07/16/2019
Analysis  
Updated: Unigold Inc.
Unigold Inc has a large gold discovery in the Dominican Republic. Their Neita property (50,000 acres) is approaching late stage development. They have already found 2.9 million oz (inferred) and have 25 more targets. It is both an open pit (2 million oz...  more
07/15/2019
Analysis  
Updated: Globex Mining Enterprises Inc
Globex Mining is a project generator that has been around for 60 years. With 172 projects (83 are precious metals) in Canada and the US (mostly in Quebec and Ontario). They also have 58 royalty properties, with 1 paying out about $1.5 million per year....  more
07/14/2019
Analysis  
Updated: Inventus Mining Corp
Inventus Mining appears to have a gold discovery (Pardo) in Ontario, Canada. Their stock jumped from 3 cents a share to 35 cents after the discovery in 2013. Now it's back to 8 cents. Pardo is still early exploration, but a large property (48,000 acres)...  more
07/14/2019
Analysis  
Updated: Rockhaven Resources Ltd.
Rockhaven Resources has a gold and silver discovery in the Yukon (Canada). The Klaza property is large (70,000 acres) and has 9 discovered zones to drill. It's already a 1.2 million oz gold deposit at 3.5 gpt at surface, plus another 27 million oz of...  more
07/14/2019
Analysis  
Updated: Quebec Precious Metals Corp
Quebec Precious Metals (formerly Canadian Strategic Metals) is a project generator focused in Quebec, Canada. They have a gold discovery (Sakami-Apple) with 70% ownership. It is in a good location and early drill results have been pretty good. The size...  more
07/14/2019
Analysis  
Updated: New Oroperu Resources Inc
New Oroperu is a small project generator in Peru. They have a 30% interest (plus a 2% NSR) in a 3.2 million oz deposit (Tres Cruces) being developed by Barrick Gold. This mine is likely to be built because of its large size. However, it is still early...  more
07/14/2019
Analysis  
Updated: American Pacific Mining
American Pacific Mining is a new exploration company. They have 4 small projects in Nevada. They are focusing on Tuscarora and their most recent acquisition Gooseberry. Tuscarora is a potential high-grade discovery. They have quite a few historic...  more
07/13/2019
Analysis  
Updated: Euromax Resources Ltd
Euromax Resources has significant upside potential. The Ilovitza project in Macedonia has 2.5 million oz (low grade of .33 gpt). It has a feasibility for 83,000 oz of annual production at $250 cash costs (using copper offsets), plus a large amount of...  more
07/13/2019
Analysis  
Updated: Newcrest Mining Ltd.
Newcrest Mining is a solid company with production of 2.4 million oz at 6 operating mines. They have low cash costs of around $650 per oz because of their copper and silver offsets, with all-in costs around $1000 per oz in 2019. Their balance sheet isn't...  more
07/13/2019
Analysis  
Updated: St Barbara Ltd
St. Barbara is a mid-tier gold producer based in Australia. They have four producing mines. Gwalia/Leonora in Australia at 250,000 oz, Simberi in Papua New Guinea at 100,000 oz, and Touquoy in Canada (90,000 oz). Cash costs for the last quarter were...  more
07/13/2019
Analysis  
Updated: Focus Minerals Ltd.
Focus Minerals was a mid-tier producer in Australia, but they halted production in 2013 due to high cash costs. My guess is once gold passes $1400, they will resume production. They have two solid properties: Laverton and Coolgardie. Both are large (400,0  more
07/13/2019
Analysis  
Updated: Citigold Corp. Ltd.
Citigold has 100 bagger potential at higher gold prices. They have 11 million oz of gold at 14 gpt (all inferred). Plus, they think they could find 50 million oz on their flagship Tower Charter mine in Australia. It is a past producing mine requiring an...  more
07/13/2019
Analysis  
Updated: Contact Gold Corp
Contact Gold is a new exploration company focused on Nevada. They are looking for a large mine in the Carlin Trend. They have 13 properties on 65,000 acres. Currently they are cashed up with about $3 million and are drilling a discovery (Pony Creek). It...  more
07/12/2019
Analysis  
Updated: Hummingbird Resources Ltd
Hummingbird Resources is a new mid-tier producer in West Africa (Mali). Their Yanofolia open pit is 2 million oz (2.5 gpt) with low projected cash costs ($650 per oz), although currently around $800 cash costs. Costs should drop in 2020. They are...  more
07/11/2019
Analysis  
Updated: Revival Gold Inc
Revival Gold is developing an open pit project in Idaho. Their Arnett - Beartrack project (10,000 acres) has 2.4 million oz (1.2 gpt). It looks pretty solid, but will require about $15 to 20 million to advance to the financing stage. They have just...  more
07/11/2019
Analysis  
Updated: Cora Gold Ltd
Cora Gold is a project generator focused in West Africa. They have 3 early exploration projects in Mali. Sanonkoro (75,000 acres), Tagan-Tekeledougo (75,000 acres), and Diangounte (30,000 acres). They have identified an 8-mile strike and think they can...  more
07/11/2019
Analysis  
Updated: Auxico Resources
Auxico Resources has a hybrid model. They are planning to produce base metals (Coltan) in Colombia. They are planning to do toll milling in Colombia. And they are exploring for gold and silver in Mexico. It's a strange combination for a company that is...  more
07/10/2019
Analysis  
Updated: Cartier Resources Inc.
Cartier Resources is a project generator focusing in Quebec. They have 7 gold projects and are drilling, but have not yet found an advanced project or made any JV deals. None of their properties have a 43-101 resource estimate, and are either past...  more
07/10/2019
Analysis  
Updated: Amani Gold Ltd
Amani Gold (previously Burey Gold) has a large open pit project in Central Africa. Giro is in the DRC on 125,000 acres. They own 55% with an option for 65%. They have been drilling since 2014 with good results. The project consists two resources, one...  more
07/09/2019
Analysis  
Updated: Zonte Metals Inc
Zonte Metals is a project generator focused in Canada. They have a property (McConnells Jest) in the Yukon (7,500 acres) that is located next to Victoria Gold and Alexco Resources. It's in a good location and investors have bid up their market cap....  more
07/09/2019
Analysis  
Updated: Southern Gold Ltd.
Southern Gold Ltd is a project generator focused in Australia. They have some cash flow from a small open pit project (50% JV Cannon). They also have 3 additional properties in Australia on 65,000 acres to explore with their cash. They have two potential...  more
07/08/2019
Analysis  
Updated: Fireweed Zinc Ltd
Fireweed Zinc is a new company with a zinc/silver project (Macmillan Pass) in the Yukon. There has been 70,000 meters of historical drilling. They released a PEA in 2018. It has 6% zinc and 4% lead, plus 55 million oz of silver at 30 gpt. The capex is...  more
07/07/2019
Analysis  
Updated: Evrim Resources Corp
Evrim Resources is a new project generator. They recently got very lucky. A property they optioned (keeping a 2% NSR) to First Majestic Silver (Ermitano) announced a monster hole of 106 meters at 13 gpt gold, plus another hole of 195 meters at 2 gpt gold.  more
07/07/2019
Analysis  
Updated: Bayhorse Silver Inc
Bayhorse Silver (formerly Kent Exploration) had a good property (Gnaweeda) and spun it out into a new company (Archean Star). That left shareholders with 2 small silver projects in Oregon and Idaho. That was not shareholder friendly, as that property...  more
07/07/2019
Analysis  
Updated: Inca Minerals Ltd
Inca Minerals has a high-grade zinc/silver discovery (Riqueza) in Peru. They have identified 20 veins at surface. The average sample has returned 7% zinc and 200 gpt silver. They did initial drilling in 2017 of 23 holes, however, I could not find any...  more
07/07/2019
Analysis  
Updated: Sokoman Minerals Corp
Sokoman Minerals has 5 gold properties in Newfoundland, Canada. Investors were excited about 2018 drill holes at their Moosehead property (17 meters at 11 gpt and 16 meters at 14 gpt). Their FD market cap increased 5x in 2018 to $26 million. However, now...  more
07/06/2019
Analysis  
Updated: Kirkland Lake Gold Ltd
Kirkland Lake Gold is a major gold producer in Canada and Australia. They have a large property (Macassa mine) in Ontario on 13,000 acres. It is a 5 million oz resource (16 gpt) that is forecast to produce 240,000 oz in 2019, growing to 400,000 oz by...  more
07/06/2019
Analysis  
Updated: Novo Resources Corp
Novo Resources exploded in value based on a potential large discovery in Western Australia (Pilbara region). However, it has come back down after the discovery proved illusive. It is still an exciting exploration play, but everything will depend on their...  more
07/06/2019
Analysis  
Updated: Para Resources Inc
Para Resources is new gold producer. They have two small producing mines in Arizona (Gold Road) and Colombia (El Limon). Plus, they have another under development in Brazil (Tucuma). Their target is about 25,000 oz of production in 2019 and 45,000 oz in...  more
07/06/2019
Analysis  
Updated: Horizon Minerals Limited
Interim Resources is in the process of transforming into a mid-tier producer. They were a small gold producer with only about 650,000 oz. Then in 2018, they acquired Macpherson Resources and their 500,000 oz Boorara project. Then in 2019, they signed a...  more
07/06/2019
Analysis  
Updated: Goldplay Exploration Ltd
Goldplay Exploration is a new company. They have 4 early exploration projects in Mexico. They are focusing on San Marcial (3,000 acres) with an updated resource estimate of 29 million oz of silver in the M&I category and 10M inferred at about 100 g/t (wit  more
07/06/2019
Analysis  
Added: Aftermath Silver
Aftermath Silver has two silver projects in Chile. Their Challacollo project is being given practically no value even though it has 37 million oz at 180 gpt (historical resource). Their FD market cap is $2 million. The reason why is they owe about $4...  more
07/06/2019
Analysis  
Added: Magna Gold Corp.
Magna Gold has a single project in Mexico (Mercedes). It has had some historical drilling, but is still early exploration. They have cash and plan to drill in 2019 and 2020. There appears to be some potential with 3,000 acres to explore. Expect dilution....  more
07/06/2019
Analysis  
Added: Harfang Exploration Inc
Hargang Exploration has 8 properties in the James Bay region of Quebec. All are early exploration gold projects. They will need funding for drilling, so expect dilution. It's a very high-risk speculation stock because currently they do not have a...  more
07/04/2019
Analysis  
Updated: Chilean Metals Inc
Chilean Metals has 5 copper/gold properties in Chile totalling 50,000 acres. I don't see any drill results on their website, but they plan to drill in 2018. They also have a property in Nova Scotia, Canada (Bass River). They also have a 3% NSR on a...  more
07/03/2019
Analysis  
Updated: Canstar Resources Inc.
Canstar Resources is a project generator focusing on base metals projects in Newfoundland. They have 56% ownership in a JV with Glencore on a significant property called Buchans-Mary March (100,000 acres). It is near a large past producing mine and the...  more
07/01/2019
General  
June 2019 Newsletter Posted
The June 2019 newsletter has just been posted  more


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