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News from December 2025
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
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
November 2025 Newsletter Posted
November 2025 Newsletter Posted. more
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
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