|I-80 Gold aka IAU released an update on McCoy-Cove, one of four gold properties in Nevada they are advancing towards production. They have owned this one the longest and know it the best, which makes today's announcement exciting. Early next year a contractor will start building a 1000M+ long decline which will be used to conduct a 40000M drilling campaign whose purpose will be to upgrade the existing resource, one of the highest grading in North America, through infill drilling. As the ore is refractory, what makes this development work is the deal they have with Nevada Gold Mines to use their facilities while IAU recently purchased of infrastructure at Lone Tree is upgraded.|
Riverside Resources aka RRI has been a successful project generator in Mexico for years, so it was unexpected when in August last year they announced they had staked three properties on a little known greenstone belt near Kenora in Ontario. But given their history, I shouldn't be surprised that they have already found a buyer for the properties. They will receive $125k and retain NSRSs when they complete this deal with Golden Retriever Resources, a presumably private company I had never heard of.
Impact Silver aka IPT released its Q3 results, as the company continues to wake up from a long period of somnolence. They have several mills and multiple mines, producing and non-producing, at their adjoining Zacualpan and Mamtla properties in Mexico, producing silver and various byproduct metals. Q3 was a transitional quarter focused on development of areas for future production, so Ag production was down a bit and costs crept up, but they were still able to generate positive cash flow and a net profit, increasing their cash stash of $21.5M with no debt.
The best new is that they are remaining ambitious. They are ramping up exploration and have bought a fourth drill, and are looking at bring the Capire open pit, which used to be a money spinner even at lower metal prices, back into production.
Queen's Road Capital aka QRC, who are different from the usual royalty/streamer company in that they issue debentures which generate cash flow used to pay dividends, released an update today, aannoincing that 74% of the shares opted to used the their recently instituted DRIP programme, taking shares rather than cash as their dividend. They are going to take the cash that would have been paid out in dividends absent the DRIP and use it to establish a share buyback programme. There was no indication as to whether this would be continued for future dividends.
The dividend has not yet shown up in my TDW accounts so I don't yet know whether I have received money or shares. I am hoping the latter, and will be bugging TDW if I get cash instead. TDW normally make these decisions on a stock by stock basis, which they then apply to all shareholders in their accounts.
Turning to Minera IRL aka MIRL, things are coming to a head in the attempt by shareholders to oust the corrupt CEO in the upcoming AGM. Just when you think the saga can't take another turn, it does. You can follow the details at this board.