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News from October 2021

10/24/2021
Analysis  
Updated: Noble Mineral Exploration Inc
Noble Mineral Exploration is a project generator focused in Canada. They have one project in Ontario. Project 81 (200,000 acres) is a potential nickel, gold discovery. They have 9 drill-ready targets and a total of 500+ targets to explore. It could be an...  more
10/23/2021
Analysis  
Updated: Caledonia Mining Corp. Plc
Caledonia Mining is a small producer in Zimbabwe (South Africa). Production is 60,000 oz (their share). All-in costs (free cash flow) are about $1250 per oz. They have free cash flow, $16 million in cash, and no debt. Plus, they have 18 properties to...  more
10/23/2021
Analysis  
Updated: Alianza Minerals Ltd.
Alianza Minerals was created in 2015 from the combination of Tarsis Resources and Estrella Gold. It is a project generator without an advanced project. They have 16 early exploration projects in the Yukon, Colorado, Nevada, and Peru. They have 3 JVs with...  more
10/23/2021
Analysis  
Updated: Thunderstruck Resources Ltd
Thunderstruck Resources is a project generator focused in Fiji. They are exploring 4 deposits, half of which are base metals (copper and zinc). They have two high-grade zinc discoveries (Nakoro and Korokayiu) and two gold projects (Liwa and Rama). All of...  more
10/23/2021
Analysis  
Updated: AEX Gold
AEX Gold is in the process of restarting a gold mine in Greenland. Nalunaq is a past-producing mine with 250,000 oz at 18 gpt. Production stopped in 2009. They think exploration will increase the deposit to 1.2 million oz at 18 gpt. They are cashed up (ab  more
10/23/2021
Analysis  
Updated: Bond Resources Inc.
Bond Resources is a new project generator focused in the US. Their flagship project is the past producing Mary K. mine which they purchased through a RTO for $10M, of which $8M are expected from future cash flow. The mine was shut down in 1942 and their...  more
10/22/2021
Analysis  
Updated: Emx Royalty Corp
EMX Royalty Corp (formerly Eurasian Minerals) is a global project generator with 50+ projects (many are available for option) in about 10 countries. With an FD market cap of $265 million and low cash flow, the upside is somewhat constrained without any...  more
10/21/2021
Analysis  
Updated: Gunpoint Exploration Ltd
Gunpoint Exploration is a project generator with an advanced project in Nevada (Talapoosa). It is a 1.3 million oz (1 gpt) open pit project with an additional 15 million oz of silver (15 gpt). They also have a silver project (El Escorpion) in Guatemala...  more
10/21/2021
Analysis  
Updated: Krakatoa Resources Ltd.
Krakatoa Resources is a project generator located in Australia. They are exploring aggressively several projects. They have both rare earth projects (Mt Clere and Dalgaranga) and gold projects (Rand, Belgravia, Turon). All of them are early exploration,...  more
10/20/2021
Analysis  
Updated: Ridgeline Minerals Corp
Ridgeline Minerals is a new project generator focused in Nevada. They recently optioned their Swift project (12,500 acres) and kept 30% (25% for full carry). Plus, they have a low-grade silver discovery (Selena) on 6,000 acres (44m grading 123.2 g/t Ag,...  more
10/19/2021
Analysis  
Updated: Pancon Resources
Pancon Resources is a project generator with a project in South Carolina. Their Brewer-Jefferson property (2,500 acres) was a past-producing mine in 1995. They recently had two discovery holes (180 meters at 1.2 gpt, 115 meters at .9 gpt). It is...  more
10/19/2021
Analysis  
Updated: Laurion Mineral Exploration Inc
Laurion Mineral Exploration is a project generator focused in Canada. They have a single project (Ishkoday) in Ontario. It is a past-producing high-grade underground gold mine (17 gpt) from the 1940s. They have targeted 100,000 meters of drilling over a...  more
10/19/2021
Analysis  
Updated: Laurion Mineral Exploration Inc
Laurion Mineral Exploration is a project generator focused in Canada. They have a single project (Ishkoday) in Ontario. It is a past-producing high-grade underground gold mine (17 gpt) from the 1940s. They have targeted 100,000 meters of drilling over a...  more
10/19/2021
Analysis  
Updated: Laurion Mineral Exploration Inc
Laurion Mineral Exploration is a project generator focused in Canada. They have a single project (Ishkoday) in Ontario. It is a past-producing high-grade underground gold mine (17 gpt) from the 1940s. They have targeted 100,000 meters of drilling over a...  more
10/18/2021
Analysis  
Updated: Aurion Resources Ltd
Aurion Resources has a large high-grade gold discovery (Risti-Aamuruska) in Finland. Drilling has just begun, but they have 3400 samples averaging 10 gpt. This property is on 35,000 acres, but they have 500,000 acres in Northern Finland. They are...  more
10/18/2021
Analysis  
Updated: Starr Peak Mining
Starr Peak Exploration is a project generator focused in Canada. They had a significant high-grade zinc discovery at New Metal (5,500 acres) in May and their FD market cap has doubled this year to $78 million. The discovery hole was 12 meters at 20% zinc...  more
10/18/2021
Analysis  
Updated: Starr Peak Mining
Starr Peak Exploration is a project generator focused in Canada. They have three early exploration projects. New Metal (5,500 acres) is located next to a large discovery by Amex Exploration. The potential of New Metal is the reason for their valuation....  more
10/17/2021
Analysis  
Updated: Bear Creek Mining Corp.
Bear Creek Mining is advancing a large silver project in Peru. Corani (300 million oz at 50 gpt) is one of the largest undeveloped silver projects in the world. Corani is on schedule for production in 2024, if they can finance the project ($580 million...  more
10/17/2021
Analysis  
Updated: Novagold Resources Inc.
NovaGold Resources has a huge advanced gold project in Alaska. Donlin is a 45 million oz resource at 2.2 gpt (they own 50%), which is one of the highest-grade large open pit mines in the world. They are projecting cash costs of $600 per oz. However,...  more
10/17/2021
Analysis  
Added: Caeneus Minerals Ltd
Caeneus Minerals is a project generator focused in Australia. They are drilling in an area near DeGrey's large Hemi project. Their properties are Mt Berghause - Robert Hill on 80,000 acres. They just began their main drill program with 197 holes....  more
10/16/2021
Analysis  
Updated: Slam Exploration Ltd.
Slam Exploration is a project generator focused in Canada. Most of their projects are in New Brunswick, but they have three large properties in Ontario: Miminska-Keezhik (15,000 acres), Opikeiga (10,000 acres), Reserve Creek (17,000 acres). Plus, their...  more
10/16/2021
Analysis  
Updated: Idaho Champion Gold Mines
Idaho Champion Gold Mine (formerly GoldTrain Resources) is a project generator focused in Idaho, USA. Their flagship project is Champagne, which is a past producing mine with a historic resource of 100k ounces of gold (1.2 g/t). It is currently beeing...  more
10/16/2021
Analysis  
Added: P2 Gold Inc
P2 Gold is a project generator focused in Canada and the USA. They have one advanced project (Gabbs) in Nevada on 7,500 acres. It is a 1.2 million oz (.5 gpt) gold deposit with 400 million lbs of copper for offsets. They are drilling it and should do a...  more
10/16/2021
Analysis  
Added: Sierra Madre Gold and Silver Ltd
Sierra Madre Gold and Silver is a project generator focused in Mexico. They are a new company that had an IPO in 2021. They only have two properties. Tepic (6,500 acres) has had significant historical drilling with a 10 million oz historical deposit (180...  more
10/15/2021
Analysis  
Added: Thesis Gold Inc
Thesis Gold has an exciting high-grade gold discovery (Ranch) in the golden triangle district of British Columbia. The drill holes have been stunning (8 meters at 25 gpt, 10 meters at 53 gpt, and 25 meters at 29 gpt). Those are some big widths for such...  more
10/14/2021
Analysis  
Added: NevGold Corp
NevGold Corp is a new project generator focused in Nevada and British Columbia. They have 3 early exploration projects. Limo Butte (15,000 acres) is a past-producing mine in Nevada with 300,000 oz (.7 gpt) that could be a mine. Cedar Wash (10,000 acres)...  more
10/14/2021
Analysis  
Added: Signature Resources Ltd
Signature Resources is a project generator with a gold project in Ontario (Lingman). It is on 30,000 acres with 7 drill areas. The resource size is 230,000 oz (6.8 gpt) and is likely to grow in size. They are currently drilling, but will need to dilute...  more
10/14/2021
Analysis  
Added: Phoenix Gold Resources Corp
Phoenix Gold Resources is a project generator focused in Canada and Nevada. Their focus appears to be on the York Harbour project (10,000 acres) in Newfoundland. It was in production from 1934 to 1942. It is a copper, zinc, silver, gold resource. Eric...  more
10/13/2021
Analysis  
Added: Finlay Minerals Ltd
Finlay Minerals is a project generator focused in Canada. They have three early exploration projects in British Colombia. Silver Hope (25,000 acres). PIL (35,000 acres). ATTY (8,000 acres). They are drilling all three, although not aggressively because...  more
10/12/2021
Analysis  
Added: QC Copper and Gold Inc
QC Copper and Gold is advancing a large copper and gold project (Opemiska) in Quebec. They have a maiden resource, but no PEA. They plan to drill for a couple of years and then do a PEA. It will take about 7 years to develop. They have 1.3 billion lbs of...  more
10/12/2021
Analysis  
Added: QC Copper and Gold Inc
QC Copper and Gold is advancing a large copper and gold project (Opemiska) in Quebec. They have a maiden resource, but no PEA. They plan to drill for a couple of years and then do a PEA. It will take about 7 years to develop. They have 1.3 billion lbs of...  more
10/12/2021
Analysis  
Added: Great Bear Royalties Corp
Great Bear Royalties owns a 2% NSR on the Dixie project owned by Great Bear Resources. It is currently valued at $140 million. It will be at least 5 years until they receive any cash flow from that project. What will they do between now and then? They...  more
10/11/2021
Analysis  
Updated: Midland Exploration Inc.
Midland Exploration is a project generator with 41 properties and 21 projects on 600,000 acres in Quebec and Ontario. They have 6 JVs (gold projects), including deals with Agnico Eagle, Osisko, IAMGold, Teck and Soquem. However, none of them are advanced...  more
10/11/2021
Analysis  
Updated: Amani Gold Ltd
Amani Gold (previously Burey Gold) has a 65% ownership in a large open pit project in Central Africa. Giro is in the DRC on 125,000 acres. They have been drilling since 2014 with good results. The project consists of two deposits (Kebigada and Douze-Match  more
10/10/2021
Analysis  
Updated: Northisle Copper & Gold Inc
Northisle Copper and Gold has a large copper/gold project (Hushamu) in Canada. The location is excellent, near an existing mine in British Columbia. Investors do not like it, giving it an FD market cap of only $26 million. If you like copper, this could...  more
10/10/2021
Analysis  
Updated: Meteoric Resources N.L.
Meteoric Resources is advancing a small high-grade project (Juruena) in Brazil on 150,000 acres. The deposit is only 250,000 oz, but they have had some really big drill holes (20 meters at 94 gpt). So, it is likely to get larger. They want to begin...  more
10/09/2021
Analysis  
Updated: Emmerson Resources Ltd.
Emmerson Resources is a successful project generator in Australia. They have several properties on 800,000 acres and are an aggressive explorer. They have cash flow from a 12% NSR (Edna Beryl), although it is currently a small mine (250,000 oz). They...  more
10/09/2021
Analysis  
Updated: Red Rock Resources Plc
Red Rock Resources is a mining, oil and gas, exploration and development company. They have several projects, but only a $11 million FD market cap. Clearly, management has not achieved their objectives. They have projects all over the world. They own...  more
10/09/2021
Analysis  
Updated: Auxico Resources
Auxico Resources has a hybrid model. They are planning to produce base metals / rare earth (Coltan - Tantalum) and do toll milling in Colombia. They are also exploring for gold and silver in Mexico (Zamora). It's a strange combination for a company that...  more
10/09/2021
Analysis  
Updated: Gold Lion Resources
Gold Lion Resources is a project generator focused in Idaho and British Columbia. They have 5 early exploration properties, 3 of them in Idaho: South Orogrande (6,500 acres), Erikson Ridge (2,200 acres) and Robber Gulch (750 acres). They already...  more
10/08/2021
Analysis  
Updated: Tribune Resources Ltd
Tribune Resources is a small gold producer in Australia. They have a 75% JV called East Kundana (EKJV) that is in production. Production is around 50,000 oz annually with 700,000 oz resources (their share). Their free cash flow will be around $50 million...  more
10/08/2021
Analysis  
Updated: Capella Minerals Ltd
Capella Minerals (formerly New Dimension Resources) is a project generator focused in Sweden, Finland, Canada, and Argentina. All are exploration, with several JVs optioned to partners. Sierra Blanca (10,000 acres) is a 20% JV silver project in...  more
10/08/2021
General  
September 2021 Newsletter Posted
September 2021 Newsletter Posted.  more
10/07/2021
Analysis  
Updated: Tristar Gold Inc.
TriStar Gold has a large open pit project (CDS) in Brazil. It is on 70,000 acres and they think it has a 10-mile trend of mineralization. CDS is up to 2 million oz (1 gpt). It is mostly inferred, but is still early drilling. The recently sold the NSR to...  more
10/07/2021
Analysis  
Updated: Galane Gold Ltd
Galane Gold is a small gold producer in South Africa and Botswana. They will produce around 40,000 oz in 2021, with all-in costs around $1500 per oz. They have a small open pit (Mupane) in Botswana, which only produces around 20,000 oz. Their Galaxy...  more
10/06/2021
Analysis  
Updated: New Gold Inc.
New Gold is a mid-tier producer that has been struggling. They were producing 550,000 oz (gold equivalent) in 2017 and everything looked good. Today their production is down to 425,000 oz. Their costs exploded in 2019 and they lost money. The big jump in...  more
10/06/2021
Analysis  
Updated: Greatland Gold Plc
Greatland Gold is a London based stock with 6 exploration properties in Australia and Tasmania. One of those properties (Havieron) is a 25% JV with Newcrest Mining, who has to spend $65 million over 6 years to get the option. Drill results at Havieron...  more
10/05/2021
Analysis  
Updated: Excellon Resources Inc.
Excellon Resources is a small silver producer in Mexico. Their La Platosa property (50,000 acres) is producing 1 million oz (600 gpt). That is the highest grade silver mine in Mexico. However, all-in costs are around $22 per oz, which is high. They lost...  more
10/05/2021
Analysis  
Updated: SSR Mining Inc
SSR Mining (previously Silver Standard Resources) has become mostly a gold mining company. They purchased the Marigold mine in 2013 from Barrick Gold in Nevada. This was a good deal. Marigold will give them 200,000 oz of gold production for 15 years. It† more
10/05/2021
Analysis  
Updated: Shanta Gold Ltd.
Shanta Gold is a mid-tier producer in Tanzania. Their New Luika open-pit mine is a 1.2 million oz resource (4 gpt). 2021 production will be about 75,000 oz, with around $1300 all-in costs (free cash flow). Thus, they are profitable at low gold prices....  more
10/05/2021
Analysis  
Updated: Tudor Gold Corp
Tudor Gold has several large properties (90,000 acres) in the golden triangle in British Columbia. Currently, their focus is on Treaty Creek (45,000 acres). Early drill results in 2019 increased their FD market cap to $77 million. Then in 2020, it jumped...  more
10/04/2021
Analysis  
Updated: Silver Sands Resources Corp.
Silver Sands Resource Corp. is a new project generator. Its flagship project is the Virginia silver project in Santa Cruz, Argentina. The deposit consists of multiple high-grade veins. It is contained in seven outcropping silver-bearing epithermal-type...  more
10/03/2021
Analysis  
Updated: Gran Colombia Gold Corp
Gran Colombia Gold is mid-tier producer in Colombia. They are currently producing about 200,000 oz (Segovia) with cash costs about $800 per oz and all-in (free cash flow) around $1300 per oz. It’s a long life mine with solid free cash flow. The...  more
10/03/2021
Analysis  
Updated: Fury Gold Mines Ltd
Fury Gold Mines was created in October 2020 from the merger between Auryn Resources and Eastmain Resources. The combination creates the potential to develop three projects that have over 3.3 million oz (7 gpt), plus exploration opportunities (likely to...  more
10/03/2021
Analysis  
Updated: Fury Gold Mines Ltd
Fury Gold Mines was created in October 2020 from the merger between Auryn Resources and Eastmain Resources. The combination creates the potential to develop three projects that have over 3.3 million oz (7 gpt), plus exploration opportunities (likely to...  more
10/02/2021
Analysis  
Updated: Vizsla Silver Corp.
Vizsla Resources is a new company formed in 2019. They purchased a large property (Panuco) in Mexico for $43 million in cash and shares. Currently, they owe $23 million that must be paid over 6 years. But only $750,000 is due in 2021 and $2.3 million in...  more
10/02/2021
Analysis  
Updated: District Metals Corp
District Metals is a project generator focused in Sweden. They are drilling their Tomtebo (12,500 acres) project. It is a past-producing property with historical drilling. It was mostly a copper mine, but has silver, gold, lead, and zinc. They have a...  more
10/02/2021
Analysis  
Updated: Kuya Silver Corp.
Kuya Silver is a new silver developer in Peru. They recently acquired the Bethania property and mine (4,200 acres). It has been in private hands and operating off and on for 40 years. Recently it was producing 400,000 oz per year. It does not have a...  more


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