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News from December 2019

12/10/2019
Analysis  
Updated: Balmoral Resources Ltd
Balmoral Resources had a lot of investor interest in 2014. Their market cap exploded from $38 million to $128 million from solid drill results. Now it has dropped back to $49 million. They own an 82-kilometer trend in a high-grade gold bearing zone (175,0  more
12/09/2019
Analysis  
Updated: Canasil Resources Inc.
Canasil Resources is a project generator in Canada and Mexico. They had a good project (Sandra-Escobar) and sold it for $2 million, plus a 2% NSR. Since then, their valuation has dropped from $20 million to $5 million. They had an advanced JV project...  more
12/09/2019
General  
New SeekingAlpha Article: 10 Gold Mining Development Projects
https://seekingalpha.com/article/4311495-10-gold-mining-development-projects  more
12/08/2019
Analysis  
Updated: Mandalay Resources Corp.
Mandalay Resources is an emerging mid-tier gold producer in Australia, and Sweden. They will produce about 75,000 oz in 2020, with all-in costs around $1400 per oz. These high costs, including cash costs around $1,050 per oz (gold equivalent including...  more
12/08/2019
Analysis  
Updated: Ximen Mining Corp
Ximen Mining has an early exploration project (Brett) in British Colombia. They claim to be a development company and are permitting Brett. However, I have them categorized as an exploration company until they give guidance of production. They also...  more
12/08/2019
Analysis  
Updated: Doubleview Capital Corp
Doubleview Capital has a copper/gold discovery (Hat) in British Columbia. It's early exploration, with very few holes drilled. Their goal is to produce a resource estimate and then a PEA. They also have an early exploration silver project (Metropolitan)...  more
12/07/2019
Analysis  
Updated: Alamos Gold Inc
Alamos Gold is an emerging major and a growth story. They have acquired 4 companies in the past 5 years (including Aurico Gold and Carlisle Goldfields in 2015, plus Richmont Mines in 2017). They now have 22 million oz in resources and are giving guidance...  more
12/07/2019
Analysis  
Updated: Southern Silver Exploration Corp
Southern Silver Exploration is a project generator with a large silver/zinc discovery in Mexico. Cerro Las Minitas is a JV and they have a 40% interest. The deposit increased quickly in size. It went from a small deposit to 200 million oz silver...  more
12/07/2019
Analysis  
Updated: Walker River Resources Corp
Walker River Resources is a gold exploration company focused in Nevada. Their Lapon Canyon (800 acres) project is a past producing high-grade gold mine. They began drilling in 2015 and have had several good drill holes (23 meters at 7.8 gpt, 18 meters at...  more
12/07/2019
Analysis  
Updated: Engold Mines Ltd
Engold Mines has a gold/silver/copper and a copper/gold/silver discovery in British Columbia. The La Hache property (6,500 acres) has had significant drilling and several holes with gold: 26 meters at 7 gpt, 12 meters at 4.5 gpt, and 172 meters at .8 gpt.  more
12/06/2019
Analysis  
Updated: Semafo Inc.
Semafo Inc. is a mid-tier producer in West Africa with an FD market cap of $644 million. They are projected to produce 400,000 oz in 2020 with cash costs around $600 per oz. However, they had a major terrorist attack in 2019 (at Boungou), with 37...  more
12/05/2019
Analysis  
Updated: Calibre Mining Corp
Calibre Mining is a new mid-tier producer. They have done a very good job acquiring properties in Nicaragua. They acquired to producing mines (El Limon and La Libertad). Between them, they will produce about 140,000 oz in 2020, with all-in costs around $1  more
12/05/2019
Analysis  
Updated: Surge Copper Corp
Surge Copper (formerly Gold Reach Resources) has an advanced large copper/gold project in Canada. Their flagship Ootsa project in British Columbia is mostly a copper deposit. Ootsa has 2+ billion lbs of copper, but also 1.5 million oz of gold equivalent (  more
12/03/2019
Analysis  
Updated: Equinox Gold
Equinox Gold was formed in 2017 from a merger between Trek Mining, NewCastle Gold, and Anfield Gold. They have 12 million oz of gold and want to become a large company. They are currently producing 240,000 oz at two mines (Mesquite in California, and...  more
12/02/2019
Analysis  
Updated: Seabridge Gold Inc.
Seabridge Gold is the largest Project Generator by Market Cap. They have two giant projects, but both are not currently economic to build. They are currently de-risking them with permitting and feasibility studies. The stock reached $37 per share in 2007...  more
12/01/2019
Analysis  
Updated: Heatherdale Resources Ltd
Heatherdale Resources has a late stage gold project (Niblack) in Alaska. They are trying to get financing to become a producer. The Niblack project is progressing with a gold equivalent resource size of approximately 500,000 oz (my estimate). With...  more
12/01/2019
Analysis  
Updated: Impact Silver Corp
Impact Silver Corp is a small producer (3 underground mines at 140 gpt). They are one of the few pure silver producers. They are currently only producing about 800,000 oz, but that should increase as silver prices rise. They have one plant on care and...  more
12/01/2019
Analysis  
Updated: Perseus Mining Ltd
Perseus Mining is a mid-tier producer in West Africa. They will produce about 270,000 oz in 2020. Most of that will come from their large Edikan project in Ghana. They will also produce about 75,000 oz from their new Sissingue project in Cote D’Ivoire....  more


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