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News from February 2021

02/28/2021
Analysis  
Updated: Silver Spruce Resources Inc
Silver Spruce Resources is a project generator. in 2020 they changed their managmement and bought a 50% in a couple of projects in the Sonora Gold Belt in Mexico (Jackie & El Mezquite) in addition to their Pino de Plata project (1,000 acres), which has...  more
02/28/2021
Analysis  
Updated: Northern Superior Resources Inc.
Northern Superior Resources has 3 early exploration projects in Canada (Quebec and Ontario). Croteau Est (30,000 acres) and Lac Surprise (35,000) are their focus. Croteau is a 640,000 oz (1 gpt) resource that is likely to exceed 1 million oz. It appears...  more
02/28/2021
Analysis  
Updated: Barra Resources Ltd.
Barra Resources has two early exploration gold projects in Australia. They also have an advanced cobalt/nickel project that can provide cash flow to explore their gold projects. Both of their gold projects appear to have gold, but will require...  more
02/28/2021
Analysis  
Updated: Allegiant Gold
Allegiant Gold (spinout from Columbus Gold) is a project generator focused in Nevada and Arizona. They have 10 projects, with most of them drill-ready that they plan to drill. They have one discovery (Eastside). It is a 1 million oz (.6 gpt) open pit...  more
02/27/2021
Analysis  
Updated: Bravada Gold Corp.
Bravada Gold is an exploration company focused on Nevada. They have 10 Properties on 15,000 acres. The company was a spin-out from Bravo Gold and is a relatively new project generator. Their best property is Wind Mountain, a past producing open pit...  more
02/27/2021
Analysis  
Updated: Golden Goliath Resources Ltd.
Golden Goliath Resources is a relatively new project generator. They shifted their focus to Canada after the selling of most of their properties in Mexico and also halted exporation in San Timoteo after beeing asked to pay daily "protection" to local...  more
02/26/2021
Analysis  
Updated: Petropavlovsk Plc
Petropavlovsk PLC is a mid-tier gold producer in Russia. They have 20 million oz of gold resources and will produce 600,000 oz with all-in costs (break-even) around $1400 per oz in 2021. They have a poor balance sheet with $500 million in debt and only $3  more
02/26/2021
Analysis  
Updated: Fortune Minerals Ltd.
Fortune Minerals has a shovel-ready gold/copper/cobalt/bismuth project in Canada (Northwest Territories). The problem is the high capex ($437 million). No one wants to take a chance on it today. The mine life is 21 to 24 years at 45,000 oz of annual gold...  more
02/26/2021
Analysis  
Updated: Andromeda Metals Ltd
Andromeda Metals is a project generator focused in Australia. They have 5 projects on large land holdings (1.5 million acres). They have 2 JVs (Drummond and Wudina) with a 25% interest. They also recently obtained some projects in the Pilbara region in...  more
02/25/2021
Analysis  
Updated: Altus Strategies Plc
Altus Strategies is a project generator focused in Africa. They have 21 projects in 6 countries on 800,000 acres. They do not have any advanced projects. Diba in Mali is their largest, with only 275,000 oz at 1.3 gpt. They are currently drilling 4 gold...  more
02/25/2021
Analysis  
Updated: Northern Dynasty Minerals Ltd
Northern Dynasty is trying to advance the Pebble project in Alaska. However, an important key permit was denied. Unless this permit decision is reversed, this project is stuck. I have my doubts the Biden administration will overturn the decision,...  more
02/24/2021
Analysis  
Updated: Gold Spring Resources
Gold Springs Resources (formerly TriMetals Mining and South American Silver) has been a painful fall for their investors. It has fallen from $3.25 a share in 2010 to today’s price of 7 cents. Ouch. Today it has an FD market cap of $20 million. This...  more
02/23/2021
Analysis  
Updated: Nulegacy Gold Corp
NuLegacy Gold has an early exploration project in Nevada (Iceberg, Avocado, and Serena deposits on their Red Hill Property). It is nearby Barrick Gold’s 14 million oz Goldrush open pit deposit. It could be another large open pit. The early drill...  more
02/23/2021
Analysis  
Updated: Orvana Minerals Corp.
Orvana Minerals is an emerging mid-tier producer. Their 1 million oz (4 gpt) property in Spain (EVBC) appears to be a long-life mine. Currently they are producing 50,000 oz at EVBC, but that could increase over time. It has high costs of about $1600 per...  more
02/23/2021
Analysis  
Updated: Ariana Resources Plc
Ariana Resources is a gold producer in Turkey. They have a 23% ownership of the Red Rabbit project (Kiziltepe and Tavsan). Cash costs are projected to be about $700 per oz and the IRR is 38%. Production is about 12,000 oz per year (their share). Tavsan (t  more
02/22/2021
Analysis  
Updated: Regis Resources Ltd.
Regis Resources is a large Australian gold producer. It was a fantastic investment in 2008, when they traded for 10 cents. It increased to $6 in 2012, but is now back to $2.68 with a $1.3 billion FD market cap. Cash costs are around $700 per oz, plus...  more
02/22/2021
Analysis  
Updated: Precipitate Gold Corp
Precipitate Gold is a project generator focused in the Dominican Republic. They have a small market cap of $19 million and some interesting properties in the Dominican Republic, Mexico, and Canada. This is a high-risk speculation stock, but it has a lot...  more
02/22/2021
Analysis  
Updated: Polymetal Intl. Plc
Polymetal International is a major with both large gold and silver production in Russia. They have 24 million oz of gold resources and 340 million oz of silver resources. They are producing 900,000 oz of gold and 29 million oz of silver. Gold equivalent...  more
02/22/2021
Analysis  
Updated: Blende Silver Corp
Blind Creek Resources is a small exploration company in Canada. Their Blende property in the Yukon is getting overlooked, it has 132 holes drilled and a new drill program is currenty underway. It is a Zinc-Lead-Silver deposit with 320M lbs of low grade...  more
02/21/2021
Analysis  
Updated: West Vault Mining Inc
West Vault Mining (previously West Kirkland Mining) purchased the Hasbrouck and Three Hills properties from Allied Nevada in 2014 for $20 million. They diluted their shares substantially to buy the properties. They have a pre-feasibility study to build...  more
02/21/2021
Analysis  
Updated: Torq Resources Inc
Torq Resources (formerly Stratton Resources) is a new project generator. They recently let go of their three properties (Newfoundland and Utah) and are looking for a new property in Chile. They have an experienced team with a good track record. They have...  more
02/20/2021
Analysis  
Updated: Reunion Gold Corp.
Reunion Gold has 7 projects in South America, none of which appear to be advanced. I don't think they have selected which project to focus on yet. Three are in French Guiana. Haute Mana (30,000 acres) is an 80% option that requires a PEA by 2022. Dorlin (  more
02/20/2021
Analysis  
Updated: Abitibi Royalties Inc
Abitibi Royalties owns a 2% and 3% NSR (net smelter royalty) for the Malartic CHL property, which is next door to the Malartic mine, which is the largest gold mine in Canada. They do not have to pay any of the costs until production begins. The developer...  more
02/20/2021
Analysis  
Updated: Arcwest Exploration Inc.
Arcwest Exploration (previously Sojourn Exploration), is a new project generator in British Columbia, Canada. In February 2018 a new management took over the company, lead by Tyler Ruks who founded West Cirque Resources that was acquired by a company...  more
02/19/2021
Analysis  
Updated: Erdene Resource Development Corp.
Erdene Resource Development is an early player in Mongolia, a country with a significant amount of natural resources. They have two high-grade open pit gold projects that should make it into production soon. Bayan Khundii is headed to gold production in...  more
02/19/2021
Analysis  
Updated: Sibanye-Stillwater
Sibanye-Stillwater (previously Sibanye Gold) is a new major in South Africa that was created by Gold Fields. It encompasses three producing underground gold mines that have 77 million oz in resources. Plus, they will produce 1.5 million oz of platinum...  more
02/19/2021
Analysis  
Updated: Solstice Gold Corp
Solstice Gold is a project generator focused in Canada. They are exploring two projects - Kahuna is a large property in Nunavut - and Red Lake Extension, in Ontaio, which is their most recent acquisition. There has been very little drilling so far, but...  more
02/18/2021
Analysis  
Updated: Troy Resources Ltd
Troy Resources is a small gold producer. They have a good project in Guyana. Karouni has a 1 million oz (2.3 gpt) open pit resource. Production began in 2015 and was supposed to ramp up to 90,000 oz. However, they have had problems accessing the high...  more
02/17/2021
Analysis  
Updated: Landore Resources Ltd
Landore Resources is advancing a gold project in Canada. Junior Lake (Bam project) is a recent discovery that has grown into a 1 million oz open pit deposit (1 gpt). They released a PEA in 2019. The capex is $93 million to produce about 80,000 oz...  more
02/16/2021
Analysis  
Updated: Orvana Minerals Corp.
Orvana Minerals is an emerging mid-tier producer. Their 1 million oz (4 gpt) property in Spain (EVBC) appears to be a long-life mine. Currently they are producing 50,000 oz at EVBC, but that could increase over time. It has high costs of about $1600 per...  more
02/16/2021
Analysis  
Updated: Galway Metals Inc
Galway Metals is advancing two projects in Canada. Their Clarence Stream gold project (600,000 oz at 2 gpt) could easily become a mine. It's on a large property (150,000 acres) in New Brunswick with significant exploration potential. They plan to drill...  more
02/16/2021
Analysis  
Updated: Talisker Resources Ltd.
Talisker Resources is a project generator focused in Canada. They have several properties located in British Columbia on 650,000 acres. Their Spences Bridge property is a large district scale property (500,000 acres). They recently acquired the Bralorne...  more
02/15/2021
Analysis  
Updated: Turmalina Metals Corp
Turmalina Metals is a new project generator that was listed in 2019. They have a high-grade gold discovery in Argentina (San Francisco). Initial drill results are impressive (82 meters at 4.4 gpt AU and 82 gpt AU, 109 meters at 4.9 gpt AU and 109 AG). It...  more
02/14/2021
Analysis  
Updated: Kinross Gold Corp.
Kinross Gold is a major with 2.4 million oz of gold equivalent production. Their all-in costs for 2021 are projected to be around $1200 (gold equivalent cash costs per oz around $800). Free cash flow should reach $1 billion at $1800 gold. They are a...  more
02/14/2021
Analysis  
Updated: Moneta Porcupine Mines Inc.
Moneta Porcupine is a project generator focused in Canada. They are currently trying to acquire the Garrison project from O3 Mining, which would obtain 30% of Moneta’s shares. It is next to their Golden Hwy project in Ontario. Combined, the projects...  more
02/14/2021
Analysis  
Updated: American Cumo Mining Corp
American Cumo Mining has a large copper/moly project (CuMo) in Idaho with 2 billion lbs of moly and 1.5 billion lbs of copper. It also has 150 million oz of silver, although very low grade (1.7 gpt). They have a PEA to producer 150,000 tpd, which is huge...  more
02/13/2021
Analysis  
Updated: Almaden Minerals Ltd.
Almaden Minerals is trying to develop their flagship project in Mexico (Ixtaca). They spun out their 40 exploration properties to their stockholders in a new company (Almadex Minerals). Ixtaca has a PFS (pre-feasibility study) to produce 80,000 oz (.6...  more
02/13/2021
Analysis  
Updated: Westgold Resources Ltd
Westgold Resources is a mid-tier producer in Australia. They were a spinout of Metals X in 2016 (which remains as a base metals company). They have 10 million oz of resources (plus recent acquisitions of Andy Well and Gnaweeda) and 3 producing mines....  more
02/13/2021
Analysis  
Updated: GGX Gold Corp
GGX Gold is a project generator focused in Canada. They have one project (Gold Drop) on 25,000 acres in British Columbia. In 2018, after some impressive trench samples, they started drilling and hit very high-grade veins but very narrow as well (ranging...  more
02/13/2021
Analysis  
Updated: Azucar Minerals Ltd.
Azucar Minerals (formed in 2018 as a spinout from Almadex Minerals) has a single gold property in Mexico. El Cobre (17,000 acres) is a potential large mine (One drill hole was 534 meters at .9 gpt, which is partly the reason why Newcrest mining invested $  more
02/13/2021
Analysis  
Updated: Northstar Gold Corp.
Northstar Gold is a new project generator focused in Canada. They have three early exploration gold projects in Ontario. Miller (2700 acres) is their main focus and was explored by Oban Mining from 2012 to 2015. They drilled 27 holes, several of them...  more
02/12/2021
Analysis  
Updated: Gold Resource Corp.
Gold Resource Corp is an emerging mid-tier producer. They are often referred by their trading symbol GORO. After they went into production in 2011, their share price rocketed to $30 a share. However, it came all the way back, trading at $1.91 in early...  more
02/11/2021
Analysis  
Updated: Ramelius Resources Ltd.
Ramelius Resources is a mid-tier producer in Australia. They are producing 250,000 oz with low all-in costs (free cash flow) under $1100 per oz. They have an FD market cap of $900 million, which would be undervalued for a 250,000 oz producer with low...  more
02/11/2021
Analysis  
Updated: Eloro Resources Ltd
Eloro Resources is a project generator focused in Peru. They have a potential large gold discovery at La Victoria (22,000 acres). Early drill results have been impressive. The share price has exploded to $4 per share. They own 82% of La Victoria. EHR...  more
02/10/2021
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 250,000 oz in 2021, growing to 400,000 oz by...  more
02/09/2021
Analysis  
Updated: Ascot Resources Ltd.
Ascot Resources has a large high-grade gold project in Canada (British Columbia). They have four deposits (Premier, Silver Coin, Big Missouri, and Red Mountain) with 3.5 million oz (7 gpt). Plus, they have a mill that needs to be refurbished that can fed...  more
02/09/2021
Analysis  
Updated: Inv Metals Inc
INV Metals is advancing a large gold project (Loma Larga) to production. The problem is that Loma Larga is in Ecuador and investors are avoiding high-risk locations. It is a 3 million oz (4 gpt) underground project. The silver and copper offsets reduce...  more
02/08/2021
Analysis  
Updated: Endeavour Silver Corp
Endeavour Silver is a silver/gold producer in Mexico. They have 3 high-grade silver/gold producing mines, with expected production of 6.5 million oz (silver equivalent including gold) in 2021. They are expanding production and reserves, projecting 9.5...  more
02/08/2021
Analysis  
Updated: Americas Gold & Silver Corp.
Americas Gold & Silver Corp (formerly Americas Silver Corp) is a mid-tier gold/silver producer in Mexico (San Rafael) and Idaho (Galena). Scorpio Gold merged with U.S. Silver & Gold in 2014, who had the 54 million oz Galena high-grade silver mine. They...  more
02/08/2021
Analysis  
Updated: Americas Gold & Silver Corp.
Americas Gold & Silver Corp (formerly Americas Silver Corp) is a mid-tier gold/silver producer in Nevada (Relief Canyon), Mexico (San Rafael), and Idaho (Galena). Relief Canyon produces about 80,000 oz (their share after streaming). San Rafael and Galena...  more
02/07/2021
Analysis  
Updated: Great Panther Mining
Great Panther Mining (formerly Great Panther Silver) is a mid-tier gold/silver 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...  more
02/07/2021
Analysis  
Updated: MacDonald Mines Exploration Ltd.
MacDonald Mines is advancing a gold/cobalt/copper/silver/nickel discovery (SPJ-Scadding) in Ontario, Canada. It's a large property (45,000 acres) and looks like a potential high-grade mine. Recent drill results have been very encouraging. They are...  more
02/07/2021
Analysis  
Updated: Firefly Resources
Firefly Resources is a project generator focused in Australia. They have a number of properties but their current focus is the recently purchased Yalgoo project. Yalgoo is located 110km west of Mt Magnet in the Murchison region of Western Australia and...  more
02/06/2021
Analysis  
Updated: Masivo Silver
Gainey Capital is an exploration company with one project in Mexico, but will probabely have a project in Nevada soon. Their main focus in Mexico was Las Margaritas project (optioned from First Nining Gold in 2018). Trenching program found high grade...  more
02/06/2021
Analysis  
Updated: Gungnir Resources Inc
Gungnir Resources is a Canadian exploration company with a project in Sweden. Their Knaften property is on 18,000 acres in a good location. Early drill results (86 holes) have found a discovery, and more recent drilling kept hitting good grades but too...  more
02/06/2021
Analysis  
Added: Empress Royalty Corp.
Empress Royalty is a new gold/silver royalty company that was formed in 2020. They have 14 NSRS and very little income. They are currently negotiating to add $50 million in assets and an income stream. It seems like new royalty companies are popping up...  more
02/06/2021
Analysis  
Added: Gold Mountain Mining Corp.
Gold Mountain Mining is a new company that recently acquired a past producing mine (Elk Gold) in British Columbia. It has a 500,000 oz (5 gpt) resource and an existing mill. The good news is that there has been 125,000 meters of drilling on 9 zones and...  more
02/06/2021
Interview  
Don Interview: Jake Ducey Podcast - Feb 6th 2021
https://youtu.be/mSaS0iOnfNc  more
02/05/2021
Analysis  
Updated: Peloton Minerals Corp
Peloton Minerals is an exploration company currently focused in Nevada. They have three gold projects (Golden Trail, Independence Valley, and Texas Canyon) that could be discoveries. All are small properties (about 1,000 acres each). They have gold at...  more
02/05/2021
Analysis  
Updated: Latin Metals Inc.
Latin Metals (previously Centenera Mining) is a project generator focused in Argentina. They are exploring multiple projects, some of them gold related and others are copper projects. The Organullo project was optioned to Yamana but they didn't continue...  more
02/05/2021
Analysis  
Added: Angold Resources Ltd.
Angold Resources is a new project generator. They have projects in Chile, Nevada, and Canada. None of them are advanced, although Dorado (35,000 acres) in Chile has a 450,000 oz (.5 gpt) historical resource that they are going to expand with drilling....  more
02/04/2021
Analysis  
Added: Kenorland Minerals Ltd.
Kenorland Minerals is a new project generator focused in Quebec and Alaska. They have three early exploration projects they are drilling. To start out a new company and drill three properties at once is impressive. They are cashed up with about $7...  more
02/04/2021
Analysis  
Added: E2Gold Inc.
E2Gold Inc is a new project generator focused in Canada. They have one property (Hawkins) on 50,000 acres. It has a long15 kilometer zone to be explored in a good location, near several other mines in Ontario. The property has had extensive historical...  more
02/03/2021
Analysis  
Updated: Sterling Metals Corp.
Sterling Metals (formerly Latin American Minerals) is a project generator focused in Canada. They have an early exploration project (Sail Pond) in Newfoundland that has never been drilled. The surface samples have been good, driving up their valuation....  more
02/02/2021
Analysis  
Updated: Monarch Mining
Monarch Mining (previously Monarch Gold) is a spinout from the Yamana Mining acquisition of their flagship Wasamac property. They are now left with 4 properties with low resources of around 500,000 oz. The good news is they have a working mill and should...  more
02/01/2021
Analysis  
Updated: Ora Gold Ltd
Ora Gold (formerly Thundelarra) is project generator in Australia. They have a large property (60,000 acres) with three areas (Abbotts, Garden Gully, Crown Prince) that they are drilling. They have been finding gold (10 meters at 5 gpt, 8 meters at 5 gpt)  more
02/01/2021
Analysis  
Updated: PolarX Ltd
PolarX Ltd is an Australian exploration company with a project (Alaska Range) in Alaska. It is comprised of three adjacent properties (Caribou Dome, Senator, and Stellar) on about 100,000 acres. It is mostly a copper project, but they are also finding...  more
02/01/2021
General  
January 2020 Newsletter Posted
January 2020 Newsletter Posted.  more


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