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News from May 2020

05/31/2020
Analysis  
Updated: Melkior Resources Inc
Melkior Resources is a project generator focused in Canada. They have three early exploration gold projects. Carscallen in West Timmins, Ontario is next to a Lakeshore Gold mine and is their focus. Recent drill results have been fairly good averaging...  more
05/30/2020
Analysis  
Updated: Revelo Resources Corp
Revelo Resources has 25 projects in Chile (750,000 acres). They have obtained 17 of those projects in recent years so they are a new company. They have just finished a reorganization proces and looks like they are turning things around these days, after...  more
05/30/2020
Analysis  
Updated: Middle Island Resources Ltd
Middle Island Resources has a gold project (Sandstone) in Australia. They stopped work on PFS (pre-feasibility study) in December 2016 because the pit shell resource size wasn't large enough. Subsequently, the stock price crashed by 75% from 6 cents to 1...  more
05/29/2020
Analysis  
Updated: Maritime Resources Corp
Maritime Resources has a past producing property (Green Bay) in Newfoundland (2000 to 2004). It is about 2 years away from restarting production with financing. They completed a PFS in 2017, and it is economic with about a 35% after-tax IRR, with cash...  more
05/28/2020
Analysis  
Updated: Emgold Mining Corp.
Emgold Mining had a big gold project in California, but lost the option. This crashed their share price and they did a reverse split, since then Their FD market cap rose to $4 million. they have a 500,000 oz project in Nevada called Golden Arrow which is...  more
05/28/2020
Analysis  
Updated: Auryn Resources Inc
Auryn Resources is a project generator with an experienced management team that came from Cayden Resources. They obtained the large (150-mile trend) Committee Bay project in Nunavut, Canada. It's in an infrastructure challenged area, but it has high-grade  more
05/28/2020
Analysis  
Updated: Juggernaut Exploration
Juggernaut Exploration is a project generator focused in Canada. They have three gold projects (Gold Standard, Midas and Empire) in British Columbia. Drilling is fully funded now for Midas and the newly acquired Gold Standard and results should be...  more
05/27/2020
Analysis  
Updated: Azimut Exploration Inc.
Azimut Exploration is a project generator focused in Northern Quebec. In January 2020, they made a big discovery on their Elmer property (100 meters at 3 gpt). Plus, it had high-grade sections with visible gold. The stock has since blasted off and they...  more
05/27/2020
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 4 million oz high-grade resource (their 74% share) and investors ignored them. However, higher gold prices have doubled their...  more
05/25/2020
Analysis  
Updated: Wiluna Mining
Blackham Resources is a mid-tier gold producer in Australia. They are producing 80,000 oz with all-in costs around $1250 per oz. They have large resources of around 6 million oz (current recovery rate at 75%) and have plans to expand production to 200,000  more
05/25/2020
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
05/25/2020
General  
New Gold-Eagle article: Gold and Silver Majors and Mid-Tiers.
https://www.gold-eagle.com/article/gold-and-silver-majors-mid-tiers-take-your-pick  more
05/24/2020
Analysis  
Updated: Silver Range Resources Ltd
Silver Range Resources is a new spinout from Strategic Metals, which owns 18%. They have 45 projects Canada: Yukon (4), Nunavut (15), NWT (5), Nevada (17). All of their projects are early exploration and the reason for their low valuation. Their...  more
05/23/2020
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
05/23/2020
Analysis  
Updated: Sunrise Resources Plc
Sunrise Resources is a London based exploration company. they are focused on their Pozzolan-Perlite Project in Nevada and they expect it to be mine ready soon. Currently they are waiting for environmental decision and already signed deals with suppliers...  more
05/23/2020
Analysis  
Updated: Iconic Minerals
Iconic Minerals is a project generator focused in Nevada. They have 3 early exploration gold projects (Hercules, Squaw Creek, New Pass), but are currently focusing on developing their lithium project and planning a spring drilling campaign soon....  more
05/23/2020
Analysis  
Updated: Provenance Gold Corp
Provenance Gold is a project generator with two early exploration projects. Their 2K property (9,000 acres) is in a good location in the Yukon and has some excellent grab samples. They drilled an initial 13 holes, but they did not release the results....  more
05/22/2020
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
05/22/2020
Analysis  
Updated: De Grey Mining Ltd.
De Grey Mining has a large open pit gold project in Australia. Their Mallina project is large with 250,000 acres and is 60 miles long. It has a lot of exploration potential. Currently, they have 1.7 million oz at 1.6 gpt. They expect it grow to 3 million...  more
05/21/2020
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
05/21/2020
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
05/20/2020
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
05/20/2020
Analysis  
Updated: NV Gold Corp
NV Gold is a project generator focused in Nevada. They have 15 properties and several of them look interesting. Plus, they have a very experienced team. The chairman owns 13%, the CEO owns 4%, and Eric Sprott own 11%. So, they have a focused team. It's...  more
05/19/2020
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
05/19/2020
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
05/18/2020
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
05/18/2020
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
05/17/2020
Analysis  
Updated: Everton Resources Inc
Everton Resources is a project generator. They have a FD market cap of only $2.5 million. They have a JVs on their Opinaca project, one of them with Hecla Mining on the Opinaca B (which yielded 0.6 g/t over 30m and is currently on hold), the other one...  more
05/17/2020
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
05/17/2020
Analysis  
Updated: Goldcliff Resource Corp.
Goldcliff Resources is a project generator with 3 projects (2 in Canada and 1 in the US). Their current focus is the Rand property in Nevada, in which they recently received some disappointing drill results (6m @ 0.28 g/t gold), which caused their stock...  more
05/17/2020
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
05/16/2020
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
05/16/2020
Analysis  
Updated: Hemlo Explorers Inc
Hemlo Explorers (previously Canadian Orebodies) is a project generator focused in Canada (Ontario). They have five early exploration projects in Ontario, Canada on 70,000 acres. It's a new company, and they made their first discovery (Black Raven) in...  more
05/15/2020
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 $24 million, yet their project is in a great location to produce 80,000 oz for...  more
05/15/2020
Analysis  
Updated: Anglo Asian Mining Plc
Anglo Asian Mining is a gold producer in Azerbaijan. Production is projected at about 55,000 oz in 2020, with all-in costs around $800 per oz (free cash flow). Their Gedabek property has both an open pit and underground mine (Gadir). Resources are about...  more
05/14/2020
Analysis  
Updated: Minaurum Gold Inc
Minaurum Gold is a project generator with 6 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
05/14/2020
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. The Tanzanian government owns 16%, plus gets a 7% royalty. Barrick had an option to acquire the project after they...  more
05/14/2020
General  
New SeekingAlpha Article: Aurcana Corp.
https://seekingalpha.com/article/4347497-aurcana-corp-silver-mine-development-story  more
05/13/2020
Analysis  
Updated: Starcore Intl. Mines Ltd.
Starcore International is a small gold producer in Mexico, with annual production of about 15,000 oz at their San Martin mine. They have high costs, with a breakeven point around $1,250 gold. For this reason, investors have been selling the stock. Their...  more
05/13/2020
Analysis  
Updated: Royal Road Minerals Ltd.
Royal Road Minerals is a project generator focused in Colombia and Nicaragua. They have 11 properties, with a total land package over 1 million acres. It's an interesting company with a lot of drill targets. They have three gold discoveries they are...  more
05/13/2020
Analysis  
Updated: Blackrock Gold
Black Rock Gold is a project generator. They have a gold project (Silver Cloud) in Nevada on 12,000 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
05/13/2020
Interview  
Interview on MiningStockEducation.com
https://youtu.be/wRAJOkg7E1g  more
05/12/2020
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
05/12/2020
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 .8 gpt and growing). The problem is the location (Mali), which limits the upside potential. Although, all of Robex projects are in...  more
05/12/2020
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 cent because of political events in the Philippines. The President has been anti-mini  more
05/12/2020
Analysis  
Updated: Pasofino Gold Ltd.
Pasofino Gold (formerly Enforcer Gold) is a project generator focused in Canada. They have two properties in Quebec. They created a 50/50 JV with a partner who must spend $2 million on exploration to get their option on the Roger property (2,500 acres)....  more
05/11/2020
Analysis  
Updated: Evolution Mining Ltd
Evolution Mining is a large gold producer in Australia. They have seven producing mines and will produce about 725,000 oz in 2020. They have low cash costs (about $600 per oz) and are very profitable. They have $370 million in debt, but plenty of cash...  more
05/11/2020
Analysis  
Updated: DELETE - Evolving Gold Corp
Evolving Gold is a small project generator focused in Canada. They have a gold property (Toro) that appears to be a potential discovery based on 400 samples. They need to drill and will significantly dilute shares to raise money. This is a very high-risk...  more
05/11/2020
Analysis  
Updated: Brixton Metals Corp
Brixton Metals is a project generator focused in Canada. They have consolidated an old placer mining camp (Atlin) in northern British Columbia with 250,000 acres. They are searching for the source of the placer gold. They have one historical deposit of...  more
05/10/2020
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
05/10/2020
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
05/09/2020
Analysis  
Updated: Nexus Gold Corp
Nexus Gold is gold exploration company focused in West Africa (Burkina Faso). All of their properties are early exploration with very little drilling. Bouboulou (9,400 acres) is a gold discovery with drill holes of 40 meters at 1.5 gpt and 35 meters at...  more
05/09/2020
Analysis  
Updated: Northern Shield Resources Inc
Northern Shield Resources is a project generator focused in Canada. They have several early exploration projects in Nova Scotia, Newfoundland, and Quebec. Very little drilling has been performed. They are excited about a potential discovery called Shot...  more
05/09/2020
Analysis  
Updated: Amex Exploration Inc
Amex Exploration is a project generator focused in Canada. Their share price has exploded from 4 cents in 2018 to $1.04 today. Once again, Eric Sprott (8% owner) has another winner. I liked this stock at 30 cents and knew was going higher. I should have...  more
05/08/2020
Analysis  
Updated: 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 of their Wagga/Southern Nights property, which has a significant amount of silver and gold. This is a...  more
05/08/2020
Analysis  
Updated: Tietto Minerals Ltd
Tietto Minerals is advancing a gold project (Abujar) in West Africa (Cote D'Ivoire). It's a 2.2 million oz (1.4 gpt) resource (higher grade starter pit). They plan to release a pre-feasibility study in 2020 and begin permitting. They may be a development...  more
05/07/2020
Analysis  
Added: Hannan Metals Ltd
Hannan Metals is a project generator with a large property in Peru. It is a copper-silver project with a 50-mile strike to explore. They plan to do initial drilling in 2020. They only have about 1.5 million in cash, so they will need to dilute immensely...  more
05/07/2020
Analysis  
Added: Cantex Mine Development Corp
Cantex Mine Development is a project explorer focused in Canada. They have two early exploration properties (North Rackla and Mt Good). Both are discoveries, although not large enough to be mines yet. Investors like their chances, giving them a $33...  more
05/07/2020
General  
New SeekingAlpha Article: 1911 Gold
https://seekingalpha.com/article/4343705-1911-gold-exciting-gold-development-story  more
05/06/2020
Analysis  
Added: Beacon Minerals Ltd
Beacon Minerals is a small gold producer in Australia. They have one project (Jaurdi) on 2500 acres. It is a small resource (200,000 oz) and an open pit (1.7 gpt). They lost money last quarter with high costs. All-in costs are around $1400 per oz (includi  more
05/06/2020
Analysis  
Added: Prime Mining Corp
Prime Mining is a new company. They acquired the Los Reyes project from Vista Gold for $6 million. It is a small open pit gold project in Mexico. It has about 800,000 oz of gold equivalent (including silver). They expect the capex to be low and are...  more
05/05/2020
Analysis  
Added: Kingsrose Mining Ltd.
Kingsrose Mining has two small open pits in Indonesia. Both of low resources and are dependent on exploration success. For this reason, this is a high-risk speculation stock. They also only own 85% of Way Linggo, and may have to divest down to 49%...  more
05/05/2020
Analysis  
Updated: Karora Resources Inc.
RNC Minerals (previously Royal Nickel) is new mid-tier gold producer in Australia. Their valuation has jumped to $208 million after then put their newly acquired Higginsville mine into production in 2019. They are now producing about 95,000 oz with all-in  more
05/04/2020
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
05/04/2020
Analysis  
Updated: Goldsource Mines Inc
GoldSource Mines is trying to build a gold mine in Guyana (South America). 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...  more
05/04/2020
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 4 million oz (.9 gpt) open pit deposit. They recently had another company analyze the deposit...  more
05/03/2020
Analysis  
Updated: IAMGOLD Corp
IAMGold Corp is an emerging major, with production at 750,000 oz. They have 4 operating mines in Suriname (northern South America), Canada (Quebec), Mali, and Burkina Faso. They are currently building a large gold mine in Ontario (Cote with 7 million oz),  more
05/03/2020
Analysis  
Updated: Strategic Metals Ltd
Strategic Metals is a project generator in the Yukon. Their stock price rose 500% in 2010, and peaked at $4.34 per share in 2011, but has since crashed (along with many gold and silver mining stocks). At today's 30 cent price ($32 million fully diluted),...  more
05/02/2020
Analysis  
Updated: Newmont Corp
Newmont Goldcorp is a solid major, although growth will be flat at around 6 million oz for the next five years. They have about 180 million oz of gold resources and a large pipeline (15 projects in development). Their problem is that they are so big ($50...  more
05/02/2020
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
05/02/2020
Analysis  
Updated: Revival Gold Inc
Revival Gold is developing an open pit project in Idaho. Their Arnett - Beartrack project (10,000 acres) has 3 million oz (1.1 gpt). It looks pretty solid, but will require about $15 million to advance to the financing stage. They have just recently...  more
05/01/2020
Analysis  
Updated: DELETE - Arcus Development Group Inc.
Arcus Development has two properties in the Yukon that are part of the four properties comprising the Dawson gold project (the other two properties were sold). All properties are near each other and are approximately 10,000 acres in total. All are early...  more
05/01/2020
General  
April 2020 Newsletter Posted
April 2020 Newsletter Posted.  more


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