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News from April 2024

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04/20/2024
Analysis  
Updated: Zacatecas Silver Corp
Zacatecas Silver is a new project generator focused on Mexico. They have two projects on 20,000 acres. The Zacatecas Property has a resource of 3.4 million tonnes at 187 g/t AgEq, but their primary focus is the Esperanza oxide gold project. It has a...  more
04/19/2024
Analysis  
Updated: Arizona Metals Corp
Arizona Metals Corp is drilling two projects in Arizona. I'm not sure if they are an exploration or development company. Investors are valuing them like a developer. Giving them a whopping $650 million FD market cap in 2022, which has now dropped to $187...  more
04/19/2024
Analysis  
Updated: Xanadu Mines
Xanadu Mines is a project generator focused in Mongolia. They have a world-class copper/gold project (Kharmagtai). They have a 50/50 JV with Zigin Metals, which can finance, build, and operate the mine. It is already 8 billion lbs of copper and 8...  more
04/19/2024
Analysis  
Updated: Highway 50 Gold Corp
Highway 50 Gold is an exploration company. They have a 50% option for a property (Monroe) in British Columbia (3,000 acres). The spent $3 million on drilling to get the option, but have not drilled since 2019. They also have three projects in Nevada....  more
04/19/2024
Analysis  
Updated: Sonoro Gold Corp
Sonoro Gold is a new company formed from Pediment Gold after they sold their flagship project to Argonaut Gold. They are trying to become a small gold producer in Mexico. Their Cerro Caliche project has a PEA forecasting a total production of 300,000 oz...  more
04/18/2024
Interview  
Don Interview: Seeking Alpha
https://seekingalpha.com/article/4684539-buying-to-the-bottom-in-gold-and-silver-with-don-durrett  more
04/18/2024
Analysis  
Updated: Juggernaut Exploration
Juggernaut Exploration is a project generator focused in Canada. They have five gold projects in British Columbia (Gold Standard, Goldstar, Midas, Bingo and Empire). They have two potential discoveries. Midas (50,000 acres) had a hole of 9 meters at...  more
04/16/2024
Analysis  
Updated: Kin Mining
Kin Mining is developing a gold project (Cardinia) in Western Australia. It is a 1.3 million oz (1.4 gpt) resource (four deposits) with a pre-feasibility study. Construction was started once before and then they halted work because they were over budget...  more
04/16/2024
Analysis  
Updated: Kingston Resources Ltd
Kingston Resources is a small gold producer in Australia. They have been producing an open pit (Mineral Hill) and tailings and plan to transition to underground mining in 2025. In 2024, they raised $20 million using debt and equity to mine underground.......  more
04/15/2024
Analysis  
Updated: PPX Mining Corp
PPX Mining (previously Peruvian Precious Metals) has a small gold project in Peru. So far they have found 700,000 oz of gold equivalent oz (including silver) at pretty good grades (2 gpt gold and 70 gpt silver). They produced only 13k ounces in 2022...  more
04/15/2024
Analysis  
Updated: Mineros S.A.
Mineros S.A. is a mid-tier gold producer in Central and South America. Investors don't like it, only valuing it at less then 2x FCF, plus are currently paying a 10% dividend yield. Plus, they are producing 215,000 oz a year. Why is it so unloved? They...  more
04/15/2024
Analysis  
Updated: Sierra Madre Gold and Silver Ltd
Sierra Madre Gold and Silver is focused in Mexico. They are a new company that had an IPO in 2021. They have three properties. The main focus appears to be the La Guitarra Mine they acquired from First Majestic in May 2022. First Majestic now owns 47% of...  more
04/14/2024
Analysis  
Added: Kobo Resources Inc
Kobo Resources is a Canadian-based exploration company focused in West Africa. Their Kossou project (35,000 acres) in Cote d'Ivoire appears to be a discovery, although they in their initial 5,000 meter drill program. They are already excited enough to...  more
04/14/2024
Analysis  
Added: Wia Gold Ltd
Wia Gold is an Australian exploration company focused in Africa. They are drilling a significant discovery (Kokoseb) in Namibia (South Africa). The maiden resource was 1.3M oz at 1 gpt AU. It has 5-kilometer strike and will grow in size. It's an exciting...  more
04/13/2024
Analysis  
Updated: Rio2 Ltd
Rio2 Ltd (acquired Atacama Pacific in 2018) has a large gold project (Fenix) in Chile. It is a 5 million oz, low grade (.4 gpt) oxide surface mine (75% recovery rate). Atacama Pacific released a PFS in 2014 to mine 250,000 oz per year. However, the capex...  more
04/13/2024
Analysis  
Updated: Bear Creek Mining Corp
Bear Creek Mining is advancing a large silver project in Peru. Corani (300 million oz at 50 gpt, plus zinc and lead offsets) is one of the largest undeveloped silver projects in the world. It is shovel-ready but requires a 3-year build. Corani is on...  more
04/13/2024
Analysis  
Updated: Fresnillo Plc
Fresnillo is a major with an FD market cap of $5,7 billion and is the largest silver producer at 60 million oz per year (plus 600,000 oz of gold). Note that silver production drops to 55 million oz’s in 2025. They have high costs, but it is still a...  more
04/12/2024
Analysis  
Updated: Gold Basin Resources Corp
Gold Basin Resources is a project generator operating in Arizona. They manage a gold project known as Gold Basin on 7,500 acres, which consists of two parallel trends with shallow oxide gold along a 1.5 km strike. They do not have a resource estimate,...  more
04/11/2024
Analysis  
Updated: Torex Gold Resources Inc
Torex Gold Resources is a large gold producer in Mexico. El Limon began production in 2015. They produce around 450,000 oz at $1400 breakeven costs. The mine life for El Limon is ending around 2026. The good news is they are building a new mine (Media...  more
04/11/2024
Analysis  
Updated: Western Alaska Minerals Corp
Western Alaska Minerals is a new project generator focused in Alaska. They have a significant silver discovery (Waterpump Creek). They are comparing it to a 150M oz discovery and think it is a big mine. They have a nice discovery hole (9 meters at 1800...  more
04/10/2024
Analysis  
Updated: B2Gold Corp
B2Gold Corp. is a major with producing mines in the Philippines, Namibia, Finland, and Mali. Production is scheduled for around 900,000 oz in 2024 and 1.2M oz in 2025 (after Back River begins production). Costs in 2024 are high at about $1400 AISC and $16  more
04/09/2024
Analysis  
Updated: Luca Mining
Luca Mining (formerly Altaley Mining and Telson Mining) is a small gold/silver/base metals producer in Mexico. They acquired Campo Morado in 2017, which has a 1 million oz gold deposit (including silver). Production is around 35,000 oz AUEQ,...  more
04/09/2024
Analysis  
Updated: Outcrop Silver & Gold
Outcrop Silver & Gold (previously Outcrop Gold & Miranda Gold) is trying to advance a high-grade silver project in Colombia. Santa Ana (65,000 acres) has a maiden resource of 40M oz at 500 gpt AG (including gold) and is growing in size. This is still...  more
04/09/2024
Analysis  
Updated: Cassiar Gold Corp
Cassiar Gold is a project generator focused in British Columbia. Cassiar (60,000 hectares) has two separate gold projects. Cassiar North (Taurus) has an inferred resource of 1.4 million oz (1.1 gpt). Taurus is growing in size where they are drilling step-  more
04/09/2024
Analysis  
Updated: Granada Gold
Granada Gold (previously Gold Bullion Development) has a gold project (Granada) in Quebec, Canada. It is undervalued with an FD market cap of only $6 million, although they working capital issues. It is both a surface mine with good grades (450,000 oz at...  more
04/08/2024
Analysis  
Updated: Gowest Gold Ltd
Gowest Gold is advancing to production in Canada. They have a large gold project (Bradshaw) on 30,000 acres with 15 drill targets. The Bradshaw mine is a 1.2 million oz (5 gpt) resource that looks good. It’s a past-producing underground mine where the...  more
04/08/2024
Analysis  
Updated: Agnico Eagle Mines Ltd
Agnico Eagle Mines is major, producing about 3.4M oz a year. It's a solid company with about 54 million oz of gold reserves and about 98 million oz of M&I gold resources. Growth will be steady, but nothing to get excited about. They are one of the better...  more
04/06/2024
Analysis  
Updated: Gold Royalty Corp
Gold Royalty Corp is a new royalty company created by Goldmining Inc. They spun-out 18 NSRs (from their projects with 25 million oz of gold) and funded it via an IPO to start out with about $87 million in cash. Then they acquired Ely Royalties and...  more
04/06/2024
Analysis  
Updated: Sky Metals Ltd
Sky Metals is a project explorer focused in Australia. They have 3 gold projects: the Kangiara & Caledonian JVs (holding an 80% interest in both) and the wholly-owned Cullarin project. Additionally, they are drilling at various base metal sites, with a...  more
04/06/2024
Analysis  
Updated: Wallbridge Mining Company Ltd
Wallbridge Mining is advancing a large gold project (Fenelon) in Quebec. They had an FD market cap of $20 million in 2018 and then it exploded to $139 million in 2019 from high-grade drill results. Although, after their acquisition with Balmoral...  more
04/06/2024
Analysis  
Updated: Warriedar Resources LTD
Warriedar Resources (previously Anova Metals) is an Australian company with a gold project in Nevada (Big Springs) and two large exploration projects in WA Australia (Golden Range & Field Finds). Until recently their focus was a small producing gold mine...  more
04/06/2024
Analysis  
Updated: Signal Gold Inc
Signal Gold (previously Anaconda Mining) was a small gold producer in Canada, with properties in Newfoundland and Nova Scotia. They were producing about 20,000 oz per year at their Point Rousse project, but stopped production in 2022 due to high costs....  more
04/05/2024
Analysis  
Updated: Dynasty Gold Corp
Dynasty Gold is a project generator focused on Canada. They are drilling the Thundercloud project in Ontario (5,000 acres). Their 2023 drill program aimed to follow up on previous results, such as 6.5 meters of 72.23 g/t gold and a 1.5m intersection of...  more
04/05/2024
Analysis  
Updated: Goldmining Inc
Goldmining Inc. (previously Brazil Resources) has a strategy of acquiring advanced-stage projects. They have done an excellent job achieving that strategy (although it has not translated into shareholder value yet). They have $160 million in cash and...  more
04/05/2024
Analysis  
Updated: Dome Gold Mines
Dome Gold Mines has 3 gold properties in Fiji covering 95,000 acres. However, they found a magnetite deposit (Sigatoka) of 190 million tons (11% magnetite). They say they are close to production at Sigatoka, but they don't give much details on how they...  more
04/05/2024
Analysis  
Updated: Chakana Copper
Chakana Copper is advancing a copper/gold/silver tourmaline pipes discovery (Soledad-Rosales) in Peru. These copper-bearing tourmaline pipes are a distinctive class of intrusion-related breccias which vary considerably in size and metal content. Initial...  more
04/05/2024
Analysis  
Updated: Golden Minerals Co
Golden Minerals was doing great in 2011 with a share price high of $28 (the ATH is $700 after a 25 to 1 reverse split in 2023). They had 50 properties on 800,000 acres, including two flagship projects. Velardena in Mexico and El Quevar in Argentina....  more
04/05/2024
Analysis  
Updated: Royal Gold Inc
Royal Gold is a royalty company based in the US. They have 177 properties spread over 17 countries. 37 are producing and 24 are in development. 76% are gold focused. 69% of their income comes from streams. They did $606M in revenue in 2023 which equals...  more
04/05/2024
Analysis  
Updated: Mirasol Resources Ltd
Mirasol Resources is a project generator with a lot of projects and JVs. They have 3 projects that they're actively exploring-Inca Gold, Sobek & Virginia. Have one in active partnership (Claudia) and 12 more up for sale or joint ventures. The focus...  more
04/05/2024
Analysis  
Updated: Jaguar Mining Inc
Jaguar Mining is a mid-tier producer in Brazil with 2 operating mines. Several years ago, they went bankrupt from high costs and high debt. They restructured the debt and re-listed their shares. They cleared $260 million in debt from their balance sheet....  more
04/03/2024
Analysis  
Updated: Compass Gold Corp
Compass Gold is a project generator focused in West Africa (Mali). They have two large properties (Tarabala & Moribala), with several targets on 250,000 acres that are collectively referred to as the Sikasso project. They have drilled about 300 holes....  more
04/03/2024
Analysis  
Updated: Denarius Metals
Denarius Metals (formerly Denarius Silver) is a new conpany formed in 2021. They have a strong connection with Aris Mining, which owns 16% of their shares. They have the same Chairman and Aris Mining. They recently acquired a project in Spain (Lomero-Poya  more
04/03/2024
Analysis  
Updated: Silver Viper Minerals Corp
Silver Viper Minerals is a project generator focused in Mexico. They have a significant discovery (La Virginia) on 15,000 acres. It has a 6-kilometer strike with 300 holes drilled. Some of their drill holes have been exciting (8 meters at 9 gpt Au, 500...  more
04/03/2024
Analysis  
Updated: North Peak Resources Ltd
North Peak Resources is a new exploration project company. In 2021, they obtained an option on the Blackhorse property, a 2,700-acre property in Nevada, with demanding conditions requiring a $10 million payment after 1.5 years and another $10 million one...  more
04/03/2024
Analysis  
Updated: Orosur Mining Inc
Orosur Mining is a project generator focused in South America. They have a 25% JV with Newmont on their Anza property in Colombia. They have a free-carry deal until Newmont is ready to finance the capex. Newmont is currently drilling, but it is still...  more
04/03/2024
Analysis  
Updated: Orosur Mining Inc
Orosur Mining is a project generator focused in South America. They have a 25% JV with Newmont on their Anza property in Colombia. They have a free-carry deal until Newmont is ready to finance the capex. Newmont is currently drilling, but it is still...  more
04/02/2024
Analysis  
Updated: Andean Precious Metals Corp
Andean Precious Metals Corp is a silver producer in Bolivia. They acquired the San Bartolome mine from a private company. They produced 5 million oz (120 gpt) in 2023 with all-in (breakeven) costs around $25 per oz. About 40% of their production comes...  more
04/01/2024
Analysis  
Updated: Ascendant Resources
Ascendant Resources is building a VMS mine (6 metals) in Portugal. Their Lagoa Salgada project is impressive, but investors are not interested. Their FD market cap has crashed to $8M. A big reason why is the high capex. They say the capex is $165M, but...  more
04/01/2024
General  
March 2024 Newsletter Posted
March 2024 Newsletter Posted.  more


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