News from December 2025

12/30/2025

Analysis

Updated: Regency Silver Corp

Regency Silver was formed in 2022. They have two early exploration projects in Mexico. Dios Padre. They do not list the property size, but I think it is less than 1000 acres. It has had 74 historic holes and an 11M oz deposit (255 gpt AGEQ). Recent drill... more

12/30/2025

Analysis

Updated: Fortune Bay Corp

Fortune Bay Corp is advancing two open-pit gold projects. One in Canada Canada (Goldfields), and one in Mexico (Poma Rosa). Their Goldfields project (25,000 acres) in Saskatchewan has 1.2 million oz (1.2 gpt). It has a PEA to produce around 75,000... more

12/30/2025

Analysis

Updated: Sanu Gold Corp

Sanu Gold is a new project generator (IPO in 2022) focused on West Africa. They have three early exploration projects in Guinea, where they have an option to earn 85% by completing a feasibility study (they currently own 75%). These projects are Daina (25 more

12/29/2025

Analysis

Updated: Garibaldi Resources Corp

Garibaldi Resources is a project generator focused on properties in British Columbia, Canada. A discovery coincided with positive market sentiment for nickel in 2017 at their E&L Nickel Mountain property in the Golden Triangle. Containing strong sulphide... more

12/29/2025

Analysis

Updated: Headwater Gold Inc

Headwater Gold is a project exploration company focused on Nevada, Oregon, and Idaho. They own 14 gold projects, most of which are on small properties and are at the early exploration stage with minimal drilling. They have entered a JV with Newmont on... more

12/28/2025

Analysis

Updated: Benz Mining Corp

Benz Mining is a gold mining development company that is likely to become a mid-tier producer. They have three quality projects, all of which are likely to become mines. Their current focus appears to be Glenburgh (225,000 acres) in Western Australia. It... more

12/27/2025

Analysis

Updated: Independence Gold Corp

Independence Gold is a project generator focused in Canada with one project in the Yukon and two in British Columbia. The 3Ts project (12,000 acres) in BC is their flagship and is an advanced exploration project, located near the Artemis Blackwater mine.... more

12/27/2025

Analysis

Updated: Yorbeau Resources

Yorbeau Resources is a Quebec-focused project generator with 4 precious metals and 6 base metals projects. They completed their Rouyn property sale to Australian investors (Lac Gold), receiving C$5M upfront this year (C$2M signing + C$3M closing Dec 2024) more

12/27/2025

Analysis

Updated: Transatlantic Mining

Transatlantic Mining (formerly Archean Star Resources) has 3 small past-producing mines in Montana and Idaho. In 2020, they sold Their US Grant project in Montana which required $2 million option payments for 100% ownership, as well as their Kearsarge... more

12/26/2025

Analysis

Updated: Almadex Minerals Ltd

Almadex Minerals was spun off from Almaden Minerals in 2015. Almaden Minerals decided to focus on developing their flagship project, Ixtaca, in Mexico. As part of the spin-off, Almadex retained 14 exploration properties and several NSRs — a solid... more

12/26/2025

Analysis

Updated: ESGold Corp

ESGold Corp (previously Secova Metals) is trying to become a small gold producer in Canada. In July 2024, they restructured their management and board of directors and shifted their focus toward getting the Montauban plant operational for tailings... more

12/26/2025

Analysis

Updated: Walker River Resources Corp

Walker River Resources is a gold exploration company focused on the Walker Lane trend in Nevada. Their Lapon Canyon (3000 acres) project is a past-producing high-grade gold mine where they began drilling in 2015 and have had good results. Their CEO is a... more

12/25/2025

Analysis

Updated: Goldgroup Mining Inc

Goldgroup Mining is a small gold producer in Mexico. Cerro Prieto (10,000 acres) is low-grade open pit project. They produced 12,000 oz in 2025, but lost money last Qtr when gold prices were above $3500. Resources are only around 150,000 oz (.8 gpt). It... more

12/24/2025

Analysis

Updated: Mundoro Capital

Mundoro Capital is a royalty generator primarily focused on Eastern Europe. They own several copper properties in Serbia and Bulgaria. Their North and South Timok properties are optioned to three JV partners (with Mundoro retaining 25% of each), who are... more

12/24/2025

Analysis

Updated: Getchell Gold Corp

Getchell Gold is a project generator focused in Nevada. Fondaway Canyon (4,400 acres) has a 2.3 million oz resource at 1.3 gpt. They released a PEA in 2025. The numbers are excellent. $225M capex to produce 115K/yr at $1400 AISC. The NPV is over $1B at $3 more

12/24/2025

Analysis

Updated: Goldstorm Metals Corp

Goldstorm Metals is a project generator focused on a property acquired from Tudor in November 2022 that is located in Canada's BC Golden Triangle. It is directly south of Seabridge's KSM project and Newmont's Brucejack gold mine. The Crown property... more

12/24/2025

Analysis

Updated: Stillwater Critical Minerals Corp

Stillwater Critical Minerals is an exploration company focused on PGEs (platinum group elements) in North America. They have a large discovery in Montana (Stillwater West) that has 2M oz of AUEQ, including the following: Platinum: 2M oz. Paladium: 1.2 more

12/23/2025

Analysis

Updated: Alamos Gold Inc

Alamos Gold is a major and a growth story. They have acquired 4 companies (including Aurico Gold and Carlisle Goldfields in 2015, plus Richmont Mines in 2017). They now have 24 million oz in resources and are giving guidance to become a 900,000 oz... more

12/23/2025

Analysis

Updated: Equity Metals Corp

Equity Metals is a project generator focused in Canada. They have a silver and gold project (plus base metal offsets) in British Columbia (Silver Queen). It has 30 million (180 gpt) silver and 85 million oz of AGEQ (450 gpt). The offsets include copper,... more

12/23/2025

Analysis

Updated: FireFly Metals Ltd

Firefly Metals (previously Auteco Minerals) is an Australian mining company that obtained 80% of the Pickle Crow project in Ontario from First Mining Gold. It is a permitted project with 2.5 million oz deposit at 7 gpt (their share). The property has a... more

12/23/2025

Analysis

Updated: Highlander Silver Corp

Highlander Silver is advancing two significant silver projects in Peru. They acquired Bear Creek Mining in 2025, and only paid $100M, giving up 18% ownership of the combined company. It was an excellent deal for shareholders. They got it cheap for two... more

12/22/2025

Analysis

Updated: Antilles Gold Ltd

Antilles Gold (Previously PanTerra Gold) is an Australian-based gold development company focused in Cuba. They have a 50/50 JV with a Cuban company with three projects. Two of which appear to be headed to production. Their company presentation is... more

12/22/2025

Analysis

Updated: Irving Resources Inc

Irving Resources, formed in 2015 to explore Japan, holds projects on 33,000 acres in Hokkaido (Omu & Yamagano) plus new epithermal gold-silver holdings on Noto Peninsula, Honshu. Yamagano is 11 km southwest of the large, high-grade Hishikari gold mine.... more

12/22/2025

Analysis

Updated: Lode Gold Resources Inc

Lode Gold Resources (formerly Stratabound Minerals) is focused on turning its Fremont gold project in California’s Mother Lode belt into a mine. Fremont is a past-producing underground operation with 23 kilometers of adits on 3,300 acres of private... more

12/22/2025

Analysis

Updated: Aftermath Silver

Aftermath Silver is advancing a large polymetallic project (Berenguela) in Peru. It has 175M oz AG at 60 gpt, plus a very large amount of base metals (2B oz AGEQ). It does not have a PEA. They are going to skip the PEA and do a PFS in 2026. The NPV is... more

12/22/2025

Analysis

Updated: Metals Australia Ltd

Metals Australia is a project generator focused in Australia and Canada. They have several projects and I'm not sure of their focus. They are presenting themselves as a battery metals company now, but still own gold projects. They have a Lithium/base... more

12/21/2025

Analysis

Updated: Riverside Resources Inc

Riverside Resources is a project generator focused on gold, silver, copper, and REE exploration, primarily operating in Canada and Mexico. In 2025 they have divested non-core Ontario gold assets via a spin-out to Blue Jay Gold Corp., executed a... more

12/20/2025

Analysis

Updated: Barrick Mining Corp

Barrick Mining (previously Barrick Gold) is a monster company (based in Canada) with 142M ounces of gold and projections to increase production steadily from 3.3M ounces to 4M (excluding copper, which is currently at 485M lbs production and projected to... more

12/20/2025

Analysis

Updated: Delta Resources Ltd

Delta Resources (formerly Golden Hope Mines) is a project generator focused on gold project (Delta-1) in Thunder Bay, Ontario, with a second project (Delta-2) in Chibougamau, Quebec (they sold their Bellechasse project in 2020 to fund Delta-2). Delta-2... more

12/20/2025

Analysis

Updated: Silver47 Exploration Corp

Silver47 Exploration is a new company formed in 2023. They acquired the Red Mountain polymetallic project in Alaska (150,000 acres). It has a 170M oz 300 gpt AGEQ deposit, although only about 25% of the revenue will be from gold/silver (36M oz AG at 70... more

12/19/2025

Analysis

Added: Namib Minerals

Namib Minerals is a gold producer in Zimbabwe. They have three properties and 4M oz's at 3.5 gpt AU. That is a lot of gold for their low $60M mkt cap. They are producing 35,000 oz at a $1400 AISC at their How property. They have two development... more

12/18/2025

Analysis

Updated: Impact Silver Corp

Impact Silver Corp is a small producer (5 small underground mines at 160 gpt). They are one of the few pure silver producers (90% of revenue from silver, plus 5% from gold at Zaculpan). They are currently only producing about 600K oz (400 tpd), but that... more

12/18/2025

Analysis

Updated: Peregrine Gold Ltd

Peregrine Gold is a project generator focused on Western Australia, particularly the Pilbara region. They control approximately 900,000 acres across five properties, all of which are at the early exploration stage. Their primary focus is on the Newman... more

12/18/2025

Analysis

Updated: Argenta Silver Corp

Argenta Silver was formed in 2024 when they acquired the El Quevar project from Golden Minerals. This is a high-grade (450 gpt AG) silver project in Argentina in the Salta district, which is one of the best mining districts in Argentina. It has excellent... more

12/17/2025

Analysis

Updated: Minnova Corp

Minnova Corp (formerly Auriga Gold) is a potential producer if they can get financing. They need to raise around $35 million to begin production approximately 18 months later. Minnova wants to begin production on their PL property (5,000 acres) in... more

12/17/2025

Analysis

Updated: Kingsgate Consolidated Ltd

Kingsgate Consolidated has a 4 million oz gold mine (Chatree) in Thailand. It was shut down due to environmental issues in 2016. They restarted production in 2023. Production in 2025 will be around 80,000 oz, with full production in 2026 at around 115,000 more

12/16/2025

Analysis

Updated: Yandal Resources Ltd

Yandal Resources is a project generator focused in Western Australia. They have three projects that are all being drilled, along with 470,000 oz of resources. They don't seem to have a flagship project and are looking for one. The Siona deposit at... more

12/15/2025

Analysis

Updated: NexGold Mining Corp

NexGold Mining (previously Treasury Metals) is advancing two large gold projects in Canada. They plan to build Goldboro in Nova Scotia first. Goldboro is a 2.5M oz high-grade (3.5 gpt) open pit resource with a feasibility study. The capex is $250M to... more

12/15/2025

Analysis

Updated: Altamira Gold Corp

Altamira Gold (previously Equitas Resources) was trying to become a gold producer in Brazil. Their Cajuiro property (700K oz at 1 gpt) had a low $10 million capex (they have a 700 tpd mill). However, they could not find a financing deal for the capex... more

12/13/2025

Analysis

Updated: Newlox Gold Ventures Corp

Newlox Gold is a company focused on Costa Rica at present with a unique business model. It processes both ore and tailings from historical mine sites in Costa Rica that it sources under contract from local miners, currently from about 30 mine sites at... more

12/12/2025

Analysis

Updated: Maple Gold Mines Ltd

Maple Gold Mines (previously Aurvista Gold) has a large 3 million oz (1 gpt) resource (Douay-Joutel) in Quebec. In 2020, they announced a 50/50 JV with Agnico-Eagle, who needed to spend $18 million over 4 years for their option ($9M spent). In 2024,... more

12/11/2025

Analysis

Updated: Dateline Resources Ltd

Dateline Resources is an Australian company operating a gold project in California. The Colosseum project contains 1.1 million ounces of gold (at 1.26 g/t), with additional exposure to rare earth elements. They have completed a PEA for 635,000 ounces, to... more

12/11/2025

Analysis

Added: Broken Hill Mines Ltd

Broken Hill Mines is a zinc/silver producer in Australia. They produce about 1M oz of silver, plus a significant amount of zinc and lead. The majority of their revenue is base metals. They are expanding production and should produce around 2M oz of... more

12/09/2025

Analysis

Updated: Southern Silver Exploration Corp

Southern Silver Exploration is advancing a large silver/zinc project in Mexico. Cerro Las Minitas (CLM) is 300 million oz at 275 gpt (AGEQ). That includes 125 million oz of silver at 100 gpt and 2 billion lbs of zinc. It's really a silver/zinc/copper/lead more

12/09/2025

Analysis

Updated: Southern Silver Exploration Corp

Southern Silver Exploration is advancing a large silver/zinc project in Mexico. Cerro Las Minitas (CLM) is 300 million oz at 275 gpt (AGEQ). That includes 125 million oz of silver at 100 gpt and 2 billion lbs of zinc. It's really a silver/zinc/copper/lead more

12/09/2025

Analysis

Updated: Focus Minerals Ltd

Focus Minerals was a mid-tier producer in Australia, but they halted production in 2013 due to high cash costs. They restarted production at Coolgardie in July 2023 at 25K oz a year. In early 2024 production rates were 15% lower than expected so they... more

12/09/2025

Analysis

Added: Aureka Ltd

Aureka Ltd is a project generator focused in Australia (Victoria). They have four early exploration properties. Two of them have discoveries that are growing in size. Stawell (15,000 acres) is 300K oz at 2.4 gpt AU. St Arnaud (400,000 acres) is 50K oz at... more

12/09/2025

Analysis

Added: Enegex Ltd

Enegex Ltd is an Australian-based exploration company. They appear to be focused in West Africa (Cote D'Ivoire). They acquired several properties in 2025 on 800,000 acres. Plus, the CEO from Predictive Discovery joined their team as their new CEO. He is... more

12/08/2025

Analysis

Updated: OR Royalties Ltd

OR Royalties (previously Osisko Gold Royalties) is focused mostly on gold royalties. They have over 195 royalties & streams. 2022 Guidance was 90-95k gold equivalent ounces. 2023 guidance was 95-105k gold equivalent ounces. 2025 guidance is 80-88K gold... more

12/08/2025

Analysis

Updated: Steppe Gold Ltd

Steppe Gold is an emerging mid-tier producer in Mongolia. They have an open pit mine (ATO) with 1.7 million oz of gold (1.5 gpt AUEQ). Currently, they are producing around 60,000 oz AUEQ with all-in costs (break-even) around $2200 per oz. They plan to... more

12/08/2025

Analysis

Updated: GBM Resources Ltd

GBM Resources is a project generator focused on Australia. Their Drummond project (Twin Hills and Yandan) contains 1.84 million ounces of gold @ 1.5 gpt, with potential to grow to 2–3 million ounces. Their overall resource estimate is as follows: - more

12/08/2025

Analysis

Updated: Zenith Minerals Ltd

Zenith Minerals is a project generator focused in Australia. They have two gold discoveries (DFN and Red Mountain) that they are drilling. Both could be mines. DFN has 150K oz at 1.4 gpt AU. It appears to be growing is size. They had a nice discovery... more

12/08/2025

Analysis

Updated: ONGold Resources Ltd

OnGold Resources is a new exploration company formed in 2024. It appears to be a spin-out of Northern Superior, who owns 49%. The other large shareholder is Agnico-Eagle with 12%. So, it's tightly held, with only 75M FD shares outstanding. They have... more

12/08/2025

Analysis

Updated: Taranis Resources Inc

Taranis Resources is a project generator (and potential developer) focused in Canada. They are drilling a discovery (Thor) in British Columbia. It is currently a small deposit with 17,000 tons, but it growing in size. It is polymetallic with 140 gpt AG, . more

12/07/2025

Analysis

Updated: Perseus Mining Ltd

Perseus Mining is a large mid-tier producer in West Africa. They will produce about 430,000 oz in 2026 at around $2000 all-in (free cash flow). The majority of that will come from their flagship Yaoure project in Cote d’Ivoire. It is a 3 million oz (1.3 more

12/07/2025

Analysis

Updated: Asara Resources Ltd

Asara Resources (formerly Golden Rim Resources) is a project generator focused in West Africa. They have one significant gold discovery in the Siguiri Basin district of Ghana, that appears to be a potential large mine. A mineral resource has 924koz at... more

12/06/2025

Analysis

Added: Toogood Gold Corp

Toogood Gold is a project generator focused in Canada (Newfoundland). They were formed in 2025. They have one project (Toogood) on 40,000 acres in a good location. There has been very little drilling, but they have a discovery: 3.6M at 24 gpt AU and 4.2M... more

12/05/2025

Analysis

Updated: Kingsmen Resources Ltd

Kingsmen Resources (formerly Tumi Resources) is an exploration company focused in Mexico. They have two exploration projects in Mexico. One is Las Coloradas that has 3,200m of drilling completed. The other is Almoloya which acquired in June 2025. They... more

12/05/2025

Analysis

Updated: Canadian Gold Corp

Canadian Gold Corp (previously Satori Resources) has a small high grade gold project (Tartan Lake) in Canada. It is a 277,000 oz resource on a past producing mine with a functioning mill. They did not provide guidance on the amount of money required to... more

12/05/2025

Analysis

Updated: GFG Resources Inc

GFG Resources is a project generator. They have three (150,000 acres) early exploration projects in Timmins, Ontario (Pen, Dore, and Montclerg). It is in a very good location in the Timmins mining district surrounded by majors. Pen appears to be a... more

12/05/2025

Analysis

Updated: Bold Ventures Inc

Bold Ventures is a project generator focused in Canada. They have 6 properties (80,000 acres) in Ontario. All are early exploration without a significant discovery. I'm not sure where they are focusing their exploration dollars. They don't have a... more

12/05/2025

Analysis

Updated: Fokus Mining Corp

Fokus Mining (previously Fieldex Exploration) is a project generator focused in Canada. They have one property (Galloway) in Ontario. Galloway (6,000 acres) has five discovery zones they are drilling. The main discovery is Hendrik, which has 1.3M oz at 1... more

12/05/2025

Analysis

Added: McFarlane Lake Mining Ltd

McFarlane Lake Mining is advancing a large open pit project (Juby) in Ontario. It is currently 5M oz at .9 gpt (mostly inferred) at $3700 gold. Plus, it is growing in size. They expect it to grow by another 1M oz based on known drill targets. There are 4... more

12/04/2025

Analysis

Updated: Walker Lane Resources Ltd

Walker Lane Resources (previously CMC Metals) is a project generator focused in Nevada. They have at least 7 properties, although all are early exploration and they only talk about three in detail on their website. They want to be aggressive with their... more

12/04/2025

Analysis

Updated: Tajiri Resources Corp

Tajiri Resources is a project generator focused on West Africa and South America. Their Reo project (300,000 acres) in Burkina Faso had an interesting discovery hole: 32 meters at 17 gpt. This was followed by additional promising results, including 12... more

12/04/2025

Analysis

Updated: Vulcan Minerals Inc

Vulcan Minerals is a project generator focused in Newfoundland, Canada. They have three early exploration projects. Gander (1,500 acres). Colchester-Springdale (10,000) acres. Red Cross Lake (6,200 acres). They have spent most of their time doing early... more

12/04/2025

Analysis

Updated: Santana Minerals Ltd

Santana Minerals (planned name change to Gold Strike Resources) is advancing a large gold project in New Zealand. The Bendigo-Ophir-RAS project is already 3M oz at 2.3 gpt (high-grade open pit) and is growing in size. The bad news is that it is not cheap, more

12/03/2025

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 2024, with a 21-year... more

12/02/2025

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

12/02/2025

Analysis

Updated: Patagonia Gold Plc

Patagonia Gold (formerly Hunt Mining) is a small-scale producer operating in Argentina. In 2025, they produced 3,000 oz (Cap-Oeste) and lost money. The last company presentation on their website is from 2022. There is no guidance for 2025. I have no idea... more

12/02/2025

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

12/02/2025

Analysis

Updated: Summit Royalties Ltd

Summit Royalty (previously Eagle Royalties) was created from a spin-out of Eagle Plains in 2023, and a reverse takeover of Summit Royalty in 2025. They have about 50 NSRs and streams. In 2026, they expect 130,000 GEOs, with steady growth to 270,000 GEOs... more

12/02/2025

Analysis

Updated: Vizsla Royalties Corp

Vizsla Royalties was created by Vizsla Silver. They hold a 2% NSR on Panuco, plus 3.5% for Silverstone. Panuco is targeting production in 2027 at 20M oz/year. At $100 silver, that is $40M FCF/year for a 2% NSR. If they get a 25 FCF multiple, that is $1B... more

12/01/2025

Analysis

Updated: Kirkland Lake Discoveries Corp

Kirkland Lake Discoveries Corp (formerly Warrior Gold) is a project generator focused on Canada. They have two properties: KL East and KL West, the latter hosting the Goodfish-Kirana project, which spans 9,000 acres. It is strategically located next to... more

12/01/2025

General

November 2025 Newsletter Posted

November 2025 Newsletter Posted. more

News from December 2025

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