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News from November 2023

Calendar

11/29/2023

Analysis

Updated: Platina Resources Ltd

Platina Resources is a project generator focused in Australia. They have 7 gold properties in Western Australia. All of them are early exploration. They are mostly large properties and one of them (Xanadu) has a discovery (83 meters at .6 gpt). They... more

11/26/2023

Analysis

Updated: Fancamp Exploration Ltd

Fancamp Exploration is an experienced project generator with 90 projects, including 6 high-priority projects. They have both precious metals (42%) and base metals. They currently don't have a significant discovery that they are drilling. It appears... more

11/26/2023

Analysis

Updated: Loncor Resources Inc

Loncor Resources is a project generator with 3.5 million acres in the DRC (Democratic Republic of Congo). When I looked at them in 2012, they had an FD market cap of $113 million. I thought that was a bit pricey for a company without any resources. Their... more

11/25/2023

Analysis

Updated: Dios Exploration Inc

Dios Exploration is a project generator focused in Canada. They do not have a company presentation, so I don't have a feel for what they have or what they are doing. They list four projects, but all appear to be early exploration. They have a tiny FD... more

11/25/2023

Analysis

Updated: Aton Resources Inc

Aton Resources (formerly Alexander Nubia International) has several early exploration projects in Egypt. They have 175,000 acres of claims (24-mile trend with 14 target areas). The Hamama project already has a 500,000 oz 43-101 resource estimate (indicate more

11/24/2023

Analysis

Updated: Black Dragon Gold Corp

Black Dragon Gold (formerly Astur Resources) is a case study on the high risk of gold mining stocks. They had an economic project (Salave in Spain) and then their environmental mining permit was denied. The stock crashed from 47 cents to 1 cent. Now They... more

11/24/2023

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. They have been around since 1984 and discovered the Douay project which they sold to Maple... more

11/21/2023

Analysis

Updated: Aeris Resources Ltd

Aeris Resources is a copper and gold producer. Their Tritton copper mine produces about 20,000 tons a year. Their Mt Collin copper mine produces about 10,000 tons per year. If copper prices rise, that will give them a lot of free cash flow (over $100M).... more

11/20/2023

Analysis

Updated: Kirkland Lake Discoveries Corp

Kirkland Lake Discoveries Corp (formerlyWarrior Gold) is a project generator focused in Canada. They have one property (Goodfish-Kirana) on 9,000 acres. It's in a good location (next to Kirkland Lake's Macassa mine in Ontario) with 18 historical open... more

11/20/2023

Analysis

Updated: Pacific Ridge Exploration Ltd

Pacific Ridge Exploration is a project generator that has been in business for 45 years. They have 8 early exploration gold projects, 3 in Yukon and 5 in British Columbia. Their main focus is the Kliyul copper-gold project that adjoins Kwanika prospect (o more

11/20/2023

Analysis

Updated: Argent Minerals

Argent Minerals is trying to advance a silver/zinc/gold project in Australia. Their Kempfield project is becoming advanced. It is a low-grade silver/gold project (40 million oz at 45 gpt AG), but it has lead and zinc offsets. It will likely be economic... more

11/20/2023

Analysis

Updated: Mclaren Resources

McLaren Resources has 4 early exploration gold projects in Ontario. One of their properties is on trend to a large Goldcorp mine. All of their fourprojects (Blue Quartz, Kerrs, McCool and Augdome) appear to be somewhat small in size. The largest property... more

11/20/2023

Analysis

Updated: Yorbeau Resources

Yorbeau Resources is a project generator in Canada. they have 4 precious metals and 6 base metals projects, all of them in Quebec. They gave IamGold a 100% option to purchase their Rouyn project if they pay $15 per ounce in a future resource estimate... more

11/19/2023

Analysis

Updated: Stelmine Canada Ltd

Stelmine Canada is an exploration company focused in Canada. They have been collecting properties in Quebec. They now have 5 on more than 200,000 acres. Three are on large properties: Courcy, Mercator & Joubert. They have discovery holes on Courcy (42... more

11/19/2023

Analysis

Updated: Firefox Gold

Firefox Gold is a new project generator focused in Finland. They did their IPO in 2018 and are exploring 6 properties with a total of 200,000 hectares. Some of their properties have past exploration and are potential discoveries. Mustajarvi is a... more

11/18/2023

Analysis

Updated: Patagonia Gold Plc

Patagonia Gold (formerly Hunt Mining) is a small producer in Argentina. They produced only 1k oz at Lomada in 1H of 2023, which is a deposit with a short mine life. They have about 2.5 million oz of gold resources (AUEQ including silver). Their Calcatreu... more

11/18/2023

Analysis

Updated: Pacgold Ltd

Pacgold Ltd is a project generator focused in Australia. They have a single project (Alice River) on 80,000 acres. It appears to be a significant high-grade gold discovery, with multiple discovery holes (24 meters at 8 gpt, 17 meters at 9 gpt, 15 meters... more

11/18/2023

Analysis

Updated: Radisson Mining

Radisson Mining is advancing a high-grade gold project in Quebec. Their O'Brien (13,000 acres) underground project has 1m oz (8 gpt) and likely will increase in size (it was only mined to 1100 meters at depth). It is past producing mine with a mill.... more

11/18/2023

Analysis

Updated: Vanstar Mining Resources Inc

Vanstar Mining is a project generator focused in Canada. They have 5 projects in Quebec. One of them (Nelligan) is a 25% JV with IAMGold and is a large project. Nelligan is already 2 million oz indicated (0.87 gpt) plus 3.2 million oz inferred (0.85 gpt)... more

11/17/2023

Interview

Don Interviews on Machai Productions

https://youtu.be/rP4s5ePIqnE?si=fEQFuzSw9tQaGQMA more

11/17/2023

Analysis

Updated: Triumph Gold Corp

Triumph Gold (formerly Northern Freegold) is a project generator in the Yukon. They have drilled about 3% of their flagship Freegold Mountain project (Yukon, Canada) and already have a 1.5 million oz resource (75% recovery) at .55 gpt. It is a 2 million... more

11/17/2023

Analysis

Updated: Siren Gold Ltd

Siren Gold is a project generator focused in New Zealand. They have about 250,000 acres on several properties. Most are early exploration, but they are drilling two discoveries. Sam's Creek has 800,000 oz at 2.8 gpt AU. Reefton has 500,000 oz at 4.4 gpt... more

11/17/2023

Analysis

Updated: Austral Gold Ltd

Austral Gold is a gold producer in Chile (Guanaco and Amancaya). They currently produce about 35,000 oz of gold equivalent (including silver). Production will increase to about 50,000 oz when they restart their Casposo mine in Argentina in 2024 or 2025.... more

11/15/2023

Analysis

Updated: Oriole Resources PLC

Oriole Resources is a project generator focused in West Africa. They have 3 properties, plus equity interest in 4 companies, plus 2 NSRs. Their Senala project in Senegal is a 30% JV. IamGold has revised the earn-in agreement in 2020 and has to spend $8M... more

11/15/2023

Analysis

Updated: Chibougamau Independent Mines Inc

Chibougamau Independent Mines has a large (23,000 acres) gold/copper exploration property (Chibougamau) in Quebec. It has 5 past producing gold/copper mines and a 3,000 tpd mill. The best thing about it is the location. Also, it has significant... more

11/15/2023

Analysis

Updated: Westhaven Gold

Westhaven Gold (formerly Westhaven Ventures) is a project generator in Canada. They had a major discovery (17 meters at 24 gpt) at Shovelnose in 2018 (British Columbia). The stock blasted off over $1, but has come back down, and currently trades at 28... more

11/13/2023

Analysis

Updated: 55 North Mining Inc

55 North Mining is a project generator focused in Canada. They have one property (Last Hope) in Manitoba. It is a small (350,000 oz at 5 gpt) deposit that they keep expanding (they issued 2 resource estimates in 2021 alone). The main challenge of the... more

11/13/2023

Analysis

Updated: Inflection Resources Ltd

Inflection Resources is a project generator focused in Australia. They have a huge property on 1.2 million acres in New South Wales (they are calling it Northern NSW), but have not made a discovery yet. It is situated in a sizable mining district... more

11/12/2023

Analysis

Updated: Riley Gold Corp

Riley Gold is a new project generator focusing in Nevada. They have two early exploration projects. Tokop has some historical drilling and several high-grade surface samples. There is definitely gold on their property, but is there enough for a mine?... more

11/11/2023

Analysis

Updated: Sanatana Resources Inc

Sanatana Resources is a project generator based in Canada. They are drilling a project (Oweegee) on 75,000 acres in the Golden Triangle in British Columbia. It's in a good location, but they don't have a significant discovery yet. One good hole could... more

11/10/2023

Analysis

Updated: Sailfish Royalty Corp

Sailfish Royalty is a new company. They only have 6 NSR properties, but one of them (San Albino) began paying out in 2021 at about $3 million per year. At higher gold prices, it could double in value. The risk is San Albino is in Nicaragua which had... more

11/10/2023

Analysis

Updated: Felix Gold Ltd

Felix Gold is an Australian project generator focused in Alaska. They have several large properties in a good location near Fairbanks. They are drilling a discovery at their Treasure Creek property (28,000 acres). Initial results were promising, with... more

11/10/2023

Analysis

Updated: Trident Royalties Plc

Trident Royalties is a newer royalty company based in England. They have 21 total assets. 13 of which are producing. 63% of their assets are in Canada, USA or Australia. They recently changed their business strategy to focus more on battery and EV metals. more

11/10/2023

Analysis

Added: Legacy Iron Ore Ltd

Legacy Iron Ore is focused in Western Australia. They have one gold project (South Laverton) on 100,000 acres. It has four deposits (Mt Celia, Yilgangi, Patricia North, and Sunrise Bore). They are drilling all of them. They plan to mine in Mt Celia (300K... more

11/10/2023

Analysis

Updated: Wheaton Precious Metals Corp

Wheaton Precious Metals (previously Silver Wheaton) is a large gold/silver royalty company. They have streaming agreements on 18 operating mines, with another 14 in development. 93% of their assets fall on the lower half of the cost curve. Total cash... more

11/10/2023

Analysis

Updated: Visible Gold Mines Inc

Visible Gold Mines has eight 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

11/10/2023

Analysis

Updated: Metalla Royalty

Metalla Royalty & Streaming (formerly Excalibur Resources) is a newer royalty company formed in 2016. They grew aggressively and had 70 royalty and streaming properties before agreeing to a merger with Nova Royalty. They expect the merger to end in 4Q... more

11/09/2023

Analysis

Updated: Troilus Gold Corp

Troilus Gold is developing a large open pit mine (Troilus) in Quebec. The deposit is around 10 million oz (.7 gpt). It's a huge open pit. Fortunately, it is a past-producing open pit with a permitted tailings area. Plus, the Quebec government owns 12% of... more

11/09/2023

Analysis

Updated: Bellevue Gold

Bellevue Gold is developing a large high-grade project in Western Australia (Bellevue). Investors like it, giving them a FD market cap of $1 billion. It is 3 million oz (10 gpt) resource. It is economic at low gold prices, with all-in costs (break-even)... more

11/09/2023

Analysis

Updated: Hochschild Mining Plc

Hochschild Mining is a large gold/silver producer in South America. They will produce around 200,000 oz of gold and 8 million oz of silver in 2023 (but are planning to place Pallancata, which produces 2M oz of silver on C&M because of high costs in Q4... more

11/09/2023

Analysis

Updated: Wesdome Gold Mines Ltd

Wesdome Gold Mines is a mid-tier producer in Canada (Ontario and Quebec). They have two high-grade mines in good locations and their recent drill results have been impressive. They only have 2.3 million oz, but that total is increasing. I expect them to... more

11/07/2023

Analysis

Updated: Eldorado Gold Corp

Eldorado Gold is a large mid-tier producer with a lot of reserves (17 million oz). They have been a growth-oriented company. They have 4 operating mines, plus 2 more (Skouries and Perama) are being developed. Production will rise from 480,000 oz to about... more

11/06/2023

Analysis

Updated: Galantas Gold Corp

Galantas Gold is trying to build a small high-grade underground mine in Ireland. It has a low capex ($11 million) because they already have a mill, which was recently used for open pit mining. The Omagh mine is 400,000 oz at 6 gpt. They will need to... more

11/06/2023

Analysis

Updated: Adriatic Metals

Adriatic Metals is building a large silver/zinc/gold/copper mine (Vares - Rupice) in Bosnia. It is financed and under construction, with first pour scheduled for Q4 2023. The capex was $170 million and was mostly financed with debt. They currently have $1 more

11/06/2023

Analysis

Updated: First Mining Gold

First Mining Gold was started as a new company in 2014 by Keith Neumeyer, the CEO of First Majestic Silver. His goal was to grow the company by creating a mineral bank of properties. However, in 2017, he hired a CEO (Jeff Swinoga) to develop their... more

11/05/2023

Analysis

Updated: Thunder Mountain Gold Inc

Thunder Mountain Gold is small project generator focused in the U.S. They had an option agreement with BeMetals to sell their South Mountain project, but BeMetals terminated the deal in January 2023. BeMetals put almost $9 million worth of exploration... more

11/05/2023

Analysis

Updated: Tanami Gold NL

Tanami Gold is a project generator focused in Australia. They have a 50% JV with Northern Star (Australian major) called CTPJV (Central Tanami) which has 2.7 million oz at 2.8 gpt. Northern Star is the operator. This looks like a large mine that will get... more

11/05/2023

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. The Moss mine began production in 2018 by Elevation Gold (previously Northern Vertex) and Patriot is getting around $1.9 million... more

11/05/2023

Analysis

Updated: Vulcan Minerals Inc

Vulcan Minerals is project generator focused in Canada. They have three early exploration projects in Newfoundland. They appear to be focusing on Gander (1,500 acres) and Colchester-Springdale (10,000) acres. They have spent much of 2022 doing magnetic... more

11/05/2023

Analysis

Updated: i-80 Gold Corp

i-80 Gold was created as a spin-out when Equinox Gold acquired Premier Mining. They have four significant properties in Nevada and 15 million oz of gold. Plus, they have substantial exploration potential to add ounces (they have been drilling... more

11/05/2023

Analysis

Updated: Tinka Resources Ltd

Tinka Resources is a project generator with two significant projects in Peru. Their Ayawilca zinc/tin/silver project (35,000 acres) already has 2.5 billion lbs of zinc (7 billion lbs of zinc equivalent). They updated their PEA in 2021, with a 20-year... more

11/05/2023

Analysis

Updated: Nicola Mining Inc

Nicola Mining (formerly Huldra Silver) was a small producer in Canada. They have a high-grade (10 opt) deposit (Treasure Mountain). They produced 600,000 oz in 2013 and could have been able to ramp up to 1 million oz with exploration success. But it is... more

11/05/2023

Analysis

Updated: Sunstone Metals

Sunstone Metals is an Australian-based project generator with two gold/copper projects in Ecuador. Both projects are early exploration, but both appear to be discoveries. Investors are excited about Bramaderos (12,500 acres). It appears to be a gold/coppe more

11/04/2023

Analysis

Updated: Montage Gold Corp

Montage Gold is advancing a large open-pit project (Kone) in West Africa (Cote d’Ivoire). They have 500,000 acres and 5 million oz of gold and are find more. Their 3 million oz (reserves) open pit has various grades (.9 gpt to .5 gpt), so they will... more

11/04/2023

Analysis

Updated: Unico Silver

Unico Silver (previously E2 Metals) is a project generator focused in Argentina and Australia. Investors liked this stock, bidding it up to an $80 million FD market cap in 2020. That valuation does not appear to be earned yet. They have a discovery hole... more

11/03/2023

Analysis

Updated: Dolly Varden Silver Corp

Dolly Varden Silver is project generator in Canada. They have a large property in British Columbia (40,0000 acres), that has 12 deposit areas. Dolly Varden (50 million oz of silver at 300 gpt) and Homestake Ridge (1 million oz of gold at 4.5 gpt) have a... more

11/03/2023

Analysis

Updated: Palamina Corp

Palamina Corp is a new project generator. They operate in Peru and have seven early exploration projects, totaling 190,000 acres. They received approval to drill in the Sol de Oro and Cayos zones at their Usicayos Gold Project. Usicayos (previously known... more

11/03/2023

Analysis

Updated: Eskay Mining Corp

Eskay Mining has 150,000 acres next to the large Seabridge Gold and Skeena Resources projects in the Golden Triangle (British Columbia, Canada). They used to have 3 properties (SIB, Corey, North Mitchell), but in 2021, they were consolidated into a... more

11/02/2023

Analysis

Updated: Maronan Metals Ltd

Maronan Metals is a new Australian company formed from a spinout by Red Metals, which is a large shareholder. I think they are a project generator, but might be a developer. They are currently drilling their Maronan property (8,000 acres) in Queensland.... more

11/02/2023

Analysis

Updated: Fortuna Silver Mines Inc

Fortuna Silver is a mid-tier gold and silver producer in Mexico, Peru, Argentina, and West Africa (Burkina Faso, Cote d'Ivoire). They acquired Roxgold in 2021, which gives them an additional 120,000 oz of gold production (Yaramoko) with all-in costs... more

11/01/2023

General

October 2023 Newsletter Posted

October 2023 Newsletter Posted. more

News from November 2023

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