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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers

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From: LoneClone11/9/2021 1:31:21 PM
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Hemlo Explorers aka HMLO sold off this morning on the basis of their latest drill results from their North Limb gold project in Ontario. This is no surprise, given the appearance of the ominous word anomalous in the headline. 'Anomalous' is usually code for very low assay results, and this is borne out when you read the actual assay results . 'Ppm' is never a good sign when searching for gold, but these drill results, even worse, are reported in ppb., or parts per billion. Yikes!

They say they are 'satisfied' with the results, and outline how they found other trace elements similar to the Hemlo mine not far away, but that mine is famous for being high grade, not parts per billion. The PR says nothing about future plans, but given how long HMLO has been poking around on the property, you have wonder how much more money they are going to be able to raise for exploration.

Message 33566554

Last week I profiled ITH's ridiculous PFBS for their low grade Livengood gold project in Alaska, with initial capex over $2B delivering an IRR well under 20% at current gold prices. Today, i-80 Gold aka IAU released a PEA for their Granite Creek gold project in Nevada that has the kind of numbers you like to see with initial capex of under $7oM delivering an IRR of 34.3%.

This PEA includes both underground and open pit mining, as well as the construction of a heap leach on the property to process the oxides while processing the sulphides at a third party facility. However, IAU recently purchased the nearby Lone Tree facility which can process this ore, something that will be incorporating into the coming PFBS.

IAU isn't messing around here, The PEA wasn't supposed be complete till Q1 2002, which is when, I assume we will get the PFBS, or maybe they will go straight to an FBS.And even while drilling up a storm and doing feasibility studies, they are already are doing some underground test mining while waiting for permits to begin open pit mining.

If IAU can, as I expect, display the same alacrity on their other Nevada gold projects, they will soon become a cash flow machine.

Message 33566577
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