News from July 2025

07/31/2025

Analysis

Updated: Rupert Resources Ltd

Rupert Resources is advancing a large high-grade open project (Ikkari) in Finland. It is 4 million oz (2.5 gpt) open pit and growing in size. They released a PFS in 2025. The capex is $575M, with low cash costs of $600 per oz and an AISC of $750 for the... more

07/30/2025

Analysis

Updated: Anglogold Ashanti Ltd

AngloGold Ashanti is one of the largest gold producers. They were cheap in 2018, crashing to $7 per share. This was due to strikes in South Africa and higher cash costs. They resolved those issues (and they sold their SA mines), and now the stock is back... more

07/29/2025

Interview

Don Interviewed on Mining Stock Education

https://youtu.be/VJ_oeVCwl-4?si=2zTevsVT_G-sfXaC more

07/29/2025

Analysis

Updated: Bayhorse Silver Inc

Bayhorse Silver (formerly Kent Exploration) is a potential near-term silver producer in Oregon. It has a small resource (6 million oz), but it is high grade (20 opt). They planned to begin production at 600,000 oz annually and increase it to 1 million oz... more

07/28/2025

Analysis

Updated: Fireweed Metals

Fireweed Metals (formerly Fireweed Zinc) is advancing a large zinc/silver/lead project (Macmillan Pass) in the Yukon. They released a PEA in 2018. The deposit has 100M tons and is growing in size. It has 6% zinc and 4% lead, plus 80 million oz of silver... more

07/27/2025

Analysis

Updated: Decade Resources Ltd

Decade Resources is a project generator focused in Canada. They have about 10 properties in the golden triangle area of British Columbia. All of their properties are early exploration, and they do not have a significant discovery. They focused mainly on... more

07/27/2025

Analysis

Updated: Rockfire Resources

Rockfire Resources is a London-based exploration company with 4 projects in Australia and one in Greece. They have a lot of land (250,000 acres) in Australia, but no significant discoveries. This is why it has a tiny FD market cap of $8M. Lighthouse - more

07/26/2025

Analysis

Updated: Euromax Resources Ltd

Euromax Resource was trying to advance a gold project in Macedonia. Everything looked great and then suddenly they could not get the mining permit. They won a legal decision against the government in 2024. However, they still need the government to grant... more

07/26/2025

Analysis

Added: Astra Exploration Inc

Astra Exploration is a project generator focused in Argentina and Chile. They have three early exploration projects. One of them (La Manchuria) appears to be a discovery. It is on 13,000 acres in Argentina. It has a significant discovery hole (20 meters... more

07/25/2025

Analysis

Updated: Harfang Exploration Inc

Hargang Exploration is a project explorer focused on Canada. They hold about 10 early-stage gold and lithium properties in good locations across Québec and Ontario. Their current focus is the Sky Lake project in Ontario – a high-grade vein system with... more

07/25/2025

Analysis

Updated: Rockhaven Resources Ltd

Rockhaven Resources has a gold-silver project in the Yukon. They completed a PEA in 2020, which showed an after-tax IRR of 37% at $1,450 gold. The capex is relatively high at around $250 million for a 500,000 oz resource (in the indicated category).... more

07/25/2025

Analysis

Updated: Marvel Gold Ltd

Marvel Gold has three gold projects in Mali. They are in the process of selling two of them – the Tabakorole (flagship) and Yanfolila – for A$1.6 million. They have been trying to sell them for over a year, but political instability and a... more

07/25/2025

Analysis

Updated: Euro Sun Mining Inc

Euro Sun Mining (formerly Carpathian Gold) was a mid-tier producer in Brazil with a huge debt load. In 2015, they were able to make a deal to sell the project for the amount of debt ($177 million). Now they are debt free with a large gold/copper project... more

07/25/2025

Analysis

Updated: Geopacific Resources Ltd

Geopacific Resources is developing a 1.5 million oz open-pit gold project (grading 1.5 g/t) on Woodlark Island in Papua New Guinea. A feasibility study was completed in 2018 and updated in 2020, but the project faces several challenges. The 2020 capex... more

07/24/2025

Analysis

Updated: Boab Metals Ltd

Boab Metals (previously Pacifico Minerals) is advancing a lead-silver project (Sorby Hills) in Australia. It has about 35 million oz (their share) of low-grade silver (35 gpt). However, it also has high-grade lead offsets that should make it economic.... more

07/24/2025

Analysis

Updated: St Barbara Ltd

St. Barbara is a mid-tier gold producer based in Australia. In 2022, they sold their flagship Leonora project in Australia to Genesis Mineral for cash and shares. This left them with two projects and a strong balance sheet. They now have $186M in cash (bu more

07/24/2025

Analysis

Updated: Cora Gold Ltd

Cora Gold is working to advance a small open-pit gold project (Sanankoro) in Mali to production. The project has a short reserve mine life of 6.8 years. The economics at $1,750/oz seem very good, with a 50% IRR, a 1.2-year payback period, AISC of $1000/o more

07/24/2025

Analysis

Updated: MetalsTech Ltd

MetalsTech Ltd is trying to re-start a gold mine in Eastern Europe (Slovakia). The Sturec property (2300 acres) is a large 2.7 million oz at 2.12 gpt AUEQ (including silver) deposit. However, it is only 1 kilometer from a town, which adds risk. They... more

07/23/2025

Analysis

Updated: Boab Metals Ltd

Boab Metals (previously Pacifico Minerals) is advancing a lead-silver project (Sorby Hills) in Australia. It has about 35 million oz (their share) of low-grade silver (35 gpt). However, it also has high-grade lead offsets that should make it economic.... more

07/23/2025

Analysis

Updated: MetalsTech Ltd

MetalsTech Ltd is trying to re-start a gold mine in Eastern Europe (Slovakia). The Sturec property (2300 acres) is a large 2.7 million oz at 2.12 gpt AUEQ (including silver) deposit. However, it is only 1 kilometer from a town, which adds risk. They... more

07/22/2025

Analysis

Updated: Silver Dollar Resources Inc

Silver Dollar Resources was formed in 2020. They acquired a silver property (La Joya) from First Majestic Silver, who received about 20% of Silver Dollar (they currently hold 16%). They have a $15 million FD market cap, but this is an 80 million oz (30... more

07/22/2025

Analysis

Updated: Minera Alamos Inc

Minera Alamos is a small gold producer (Santana) in Mexico. Plus, they are advancing three more open-pit gold projects (La Fortuna, Cerro De Oro, and Copperstone) to production. Santana will produce 20,000 oz in 2025, but currently has a small resource (2 more

07/21/2025

Analysis

Added: Western Gold Resources Ltd

Western Gold Resources is a near-term producer in Western Australia. Their Gold Duke project (1500 acres) has 4 open pits at 250K oz at 2 gpt. They signed a 2-year toll-milling agreement to begin production in Q1 2026. The capex is only $7M. Their FD mkt... more

07/20/2025

Analysis

Updated: Contango Ore Inc

Contango Ore is a new gold producer in Alaska (Kinross is the operator). They have a 30% interest in the Manh Choh project, which they discovered. Kinross began trucking the ore to their Fort Knox mill 240 miles away in Q3 2024. The capex was $180... more

07/20/2025

Analysis

Updated: Citigold Corp Ltd

Citigold is trying to advance its large Charters Towers (42,000 acres) gold project in Australia. They have 14 million oz at 7 gpt (inferred), 600,000 oz at 7 gpt (reserves), and 800,000 oz at 7 gpt (M&I). Plus, they think they can find more. Charters... more

07/20/2025

Analysis

Added: Hawthorn Resources Ltd

Hawthorn Resources is a project generator focused in Australia (Western). They have one gold project (Anglo Saxon) that has a 150K oz deposit at 6 gpt. It will likely get mined by someone, but the mine life will be short. They don't have a company... more

07/19/2025

Analysis

Updated: Griffin Mining Ltd

Griffin Mining is mining zinc in China. I included them in the database because they have 88M oz of silver at 27 gpt, and 1.6M oz of gold at .5 gpt. Currently, they are mining about 40% of their revenue in gold or silver. The company presentation is from... more

07/19/2025

Analysis

Added: West Coast Silver Ltd

West Coast Silver is a project generator focused in Western Australia. They have a single silver project (Elizabeth Hill) that was a past producing mine in 2000 that mined 1.2M oz at a very high head grade at 2100 gpt AG. It does not have a historical... more

07/19/2025

Analysis

Updated: Unigold Inc

Unigold Inc has a large gold project in the Dominican Republic. Their Neita Sur - Candelones property (25,000 acres) is approaching late stage development. They have already found 2.1 million oz and have several more targets. It is both an open pit (1.1... more

07/19/2025

Analysis

Added: Native Mineral Resources Ltd

Native Minerals Resources is a small gold producer in Australia (Queensland). Their Towers Charters project (100,000 acres) has only around 300K oz at 2 gpt. They are only producing around 20K a year. Small producers always pose a very high risk. They... more

07/18/2025

Analysis

Updated: Blue Star Gold Corp

Blue Star Gold (formerly WPC Resources) has a high-grade gold project (Ulu) and the Roma project in Nunavut. Ulu has 572,000 oz at 7.02 g/t (M&I) and an inferred resource of 303,000 oz at 7.34 g/t. The most attractive part of Ulu is the Flood zone, which... more

07/18/2025

Analysis

Added: Golden Cross Resources Inc

Golden Cross Resources is a Canadian project generator focused in Australia (Victoria). They have a single property (Reedy Creek), which is a large property (100,000 acres) next door to the large Sunday Creek gold discovery owned by Southern Cross Gold.... more

07/18/2025

Analysis

Updated: Genesis Minerals Ltd

Genesis Minerals is a mid-tier producer in Australia. They have large resources, with 18M oz’s. They currently only produce 235K oz, but that will increase over time. They are targeting slow growth (325K oz by 2029), but that could increase with higher... more

07/18/2025

Analysis

Updated: Radius Gold Inc

Radius Gold is a project generator with early-stage exploration projects in Guatemala, Mexico and Peru. They sold their advanced projects for $20 million in 2012 and started over. They appear to have found a potential mine in Mexico (Amalia), where Pan... more

07/18/2025

Analysis

Updated: Novo Resources Corp

Novo Resources exploded in value based on a potential large discovery in Western Australia (Pilbara region). However, its high valuation was based on a theory. The theory is that they can mine a very thin layer near the surface called conglomerate. This... more

07/18/2025

Analysis

Updated: Horizon Gold Ltd

Horizon Gold was created in 2016 from a spin-out of Panoramic Resources in Australia. Gum Creek is a large property (150,000 acres) that has had extensive mining (37 open pits and 3 underground mines). It is a 2 million oz deposit, both open pit (1.5 gpt) more

07/17/2025

Analysis

Updated: Nations Royalty Corp

Nations Royalty was formed in 2024. They hold 5 royalties, with two paying royalties. Their FCF should be around $5M for the next 5 years. So, they are valued at around 20x FCF. They would be valued higher if they had any expected growth in the near term. more

07/17/2025

Analysis

Updated: Vox Royalty Corp

Vox is a returns-focused precious metals royalty company with a portfolio of over 70 royalties and streams spanning eight jurisdictions. Eight royalties are already producing. The Company was established in 2014 and has since built unique intellectual... more

07/16/2025

Analysis

Updated: Angkor Resources

Angkor Resources is a project generator in Cambodia. They have 3 projects in Cambodia, but have also recently diversified into the energy and carbon capture space. They have a carbon capture plant in Canada that is converting carbon in natural gas at the... more

07/16/2025

Analysis

Updated: American Pacific Mining

American Pacific Mining is an exploration company focused in North America. They have multiple JV's and multiple fully owned projects. In 2025 they're focusing on their 100% owned Madison Mine. The Madison Mine is a previously producing mine and they... more

07/16/2025

Analysis

Updated: Globex Mining Enterprises Inc

Globex Mining is a project generator that has been around for 60 years. With 258 projects (130 are precious metals) in Canada and the US (mostly in Quebec and Ontario). They also have 112 royalty properties. They don't build mines, rather explore and... more

07/15/2025

Analysis

Updated: Cartier Silver Corp

Cartier Silver is a project generator focused in Bolivia and Newfoundland. They have three early exploration projects, none of which have had much drilling. They seem to be focusing on Gonalbert in Bolivia (6,200 acres), which is near the large Iska Iska... more

07/15/2025

Analysis

Updated: Phenom Resources Corp

Phenom Resources is trying to advance a large vanadium project in Nevada. The capex is $535 million. They also have a gold project (South Carlin) that is early exploration. The PEA completed in 2020 says they own the largest highest grade primary... more

07/15/2025

Analysis

Updated: Tier One Silver Inc

Tier One Silver is a project generator focused in Peru. They are focusing on Curibaya (40,000 arcres) & had had good drill results in 2021. Drill results were high but very narrow so they need to further define the scope of their project if they want to... more

07/14/2025

Analysis

Updated: Rox Resources Ltd

Rox Resources is advancing a large gold project in Western Australia. Their Youanmi property (175,000 acres) is a 2.3M oz deposit (open pit and underground). It is a past-producing mine (1997) with a mill that can be refurbished. It is permitted, with... more

07/14/2025

Analysis

Updated: Artemis Gold Inc

Artemis Gold was formed by the Atlantic Gold management team after they were acquired by St Barbara. They acquired the huge Blackwater project (British Columbia) from New Gold for $155 million, plus a 4% NSR (8% for the first 280,000 oz delivered). Those... more

07/13/2025

Analysis

Updated: Kaiser Reef Ltd

Kaiser Reef is a small producer in Australia. They are producing in Victoria at their Union Hill mine (called Maldon Gold Mine), and in Tasmania at their Henty mine. Both have low resources. Maldon Gold Mine has 150K oz and Henty has 450K oz. Maldon was... more

07/13/2025

Analysis

Updated: GR Silver Mining Ltd

GR Silver Mining (previously Goldplay Exploration) is advancing a large silver project (Plomosas) in Mexico. It’s up to 135M oz at 180 gpt AGEQ (90M oz at 100 gpt AGEQ including gold). Investors were ignoring it, giving it a market cap valuation of... more

07/13/2025

Analysis

Updated: Relevant Gold Corp

Relevant Gold is a project generator focused on Wyoming. The company was formed in 2022, and all of their projects are in the early exploration stage with minimal drilling. They have five projects covering 40,000 acres. The South Pass project includes... more

07/13/2025

Analysis

Updated: Catalyst Metals Ltd

Catalyst Metals was a small gold producer in Australia, but acquired Superior Gold in 2023 (and the Plutonic mine) to become a mid-tier producer. They increased their resources to 4M oz at 3.4 gpt and began production. Plutonic is an old mine that at... more

07/12/2025

Analysis

Updated: Sokoman Minerals Corp

Sokoman Minerals holds several gold properties in Newfoundland, Canada. Investor interest surged following 2018 drill results at their Moosehead property, which included 17 meters at 11 g/t and 16 meters at 14 g/t. A follow-up drill program returned 10.25 more

07/12/2025

Analysis

Updated: Condor Resources Inc

Condor Resources is a project generator focused on Chile and Peru. They hold 12 properties and 2 joint ventures, all in early-stage exploration. Their Soledad JV with Chakana Copper delivered promising drill results, but the deposit size was uncertain.... more

07/12/2025

Analysis

Updated: Gold Springs Resources

Gold Springs Resources (formerly TriMetals Mining and South American Silver) has been a painful investment for shareholders. The stock has fallen from $3.25 per share in 2010 to just 6.5 cents today. This collapse followed the Bolivian government's... more

07/08/2025

Analysis

Updated: Horizon Minerals Limited

Horizon Minerals is a small producer in Australia. They have 1.8M oz at 1.8 gpt (OP/UG). Currently, they are using toll milling with 2-year agreement with a 50/50 JV to fund the refurbishment of their Black Swan mill (6000 tpd). They will then try to... more

07/08/2025

Analysis

Updated: Gogold Resources

GoGold Resources (they also call themselves GoGold Silver & Gold as a tagline on their website) is a small silver producer in Mexico. They will produce 1.5 million oz of silver equivalent (including gold) in 2025 with all-in costs of around $23 per oz (fr more

07/07/2025

Analysis

Updated: Kaiser Reef Ltd

Kaiser Reef is a small producer in Australia. They are producing in Victoria at their Union Hill mine, and in Tasmania at their Henty mine. Both have low resources. Union Hill has 150K oz and Henty has 450K oz. They will need to have exploration success... more

07/06/2025

Analysis

Updated: EnviroGold Global Ltd

Envirogold Global has a unique strategy: they plan to acquire and mine tailings projects. This approach potentially offers low capex and a smoother permitting process. They acquired the Hellyer project in Tasmania, which was expected to produce 100,000 more

07/05/2025

Analysis

Updated: Spanish Mountain Gold Ltd

Spanish Mountain Gold has a large open-pit gold project (Spanish Mountain) in Canada (British Columbia). In 2025, they released an updated PEA. Annual production of 200K oz at $1050 AISC years 1-5. Capex of $920M. NPV at $1.7B at $3300 gold. How do they... more

07/05/2025

Analysis

Updated: Larvotto Resources Ltd

Larvotto Resources is a gold/base metals developer focused in Australia. In 2023, they acquired the Hillgrove gold/antimony project. It's a past-producing mine (2022) on C&M with a working mill. It's a 1.7M oz deposit (6 gpt AUEQ) with excellent... more

07/04/2025

Analysis

Updated: Equinox Gold Corp

Equinox Gold was formed in 2017 from a merger between Trek Mining, NewCastle Gold, and Anfield Gold. In 2020, they merged with Leagold Mining, a 400,000 oz producer with 20 million oz of gold. In 2021, they acquired Premier Gold, which added another... more

07/01/2025

Analysis

Updated: Atico Mining Corp

Atico Mining is a small copper/gold producer in Colombia. Their El Roble mine is primarily a copper mine and is currently marginal at best. Its reserves are expected to last for 5 more years, necessitating further exploration to sustain operations and... more

07/01/2025

General

June 2025 Newsletter Posted

June 2025 Newsletter Posted. more

News from July 2025

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