|Prospect generator Riverside Resources aka RRI consolidated the La Union Au/Ag/Pb/Zn prospect in Sonora, Mexico last September. Their latest PR brings us the first proper exploration results on the property, and things look promising. Results from the 103 samples range as high as 83.2 g/t Au, 4816 g/t Ag, 10% Pb, and 30% Zn, and they seem to have a good handle on the mineralization. Next up will be geophysics followed by drilling later this year. Exploration so far has been based around the past-producing mines on the property; it will be interesting to see what they can come up with on the remainder.|
We also got news that shareholders of both Calibre Mining aka CXB and Fiore Gold aka F has approved the acquisition of F by CXB. Can the union of a company that's been having trouble making money on its Nevada gold mine with a company operating gold mines in the ever more problematic country of Nicaragua be a success? We shall see. I have a small stake in Fiore which I plan to hold through the merger because it is in a tax-sheltered account thus cannot generate a capital loss if I sell.
Speaking of Calibre Mining aka CXB, they were early out of the blocks, already announcing the their Q4 and full year results for 2021, and they were pretty darn good. In Q4 they produced 49218 oz Au, moving their full year total to 183242, exceeding the top end of their guidance by a good margin. As a result, they increased their cash stash by over $5M to $78.4M. They remain debt free.They also released 2022 guidance, forecasting similar production, with growth in Nicaragua expected to kick in as several new mines come into production in 2023, assuming they get all their permits.
If only they weren't in Nicaragua... Props to BTO for being smart enough to sell their properties to CXB before it got so bad there.
FWIW, TD released a new research report on CXB which saw the impact of the PR as neutral, and kept their rating as Buy with a target of $2,75.
IKN brings great news to the holders of Minera Alamos aka MAI shares like me and many of you. The share price has been depressed because Osiskko was foolishly dumping millions of MAI shares on the market. Yesterday a block of over 41M MAI shares changed hands, meaning that downward pressure should dissipate and allow the shares to reflect their true value.