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

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From: LoneClone7/20/2022 3:08:03 PM
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Anchan
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KRR, TUO, CEE

Karora Resources aka KRR released some skookum drill results from the Larkin zone of their Beta Hunt gold/nickel mine in Australia. There is already a substantial gold resource at Larkin, so perhaps the best news is a number of high grade intersections outside the resource envelope, the best being 29.8 g/t Au over 7.8M. That intercept was located 120 metres below the ultramafic/basalt contact, which opens the possibility of more high grade ore at depth, similar to what was found in the adjacent Western Flanks and A Zone deposits. The Larkin zone remains open to the south and down-dip.

These and other results from 2021 drilling to date will be incorporated into a new Resource Report expected before year end.

Message 33927338

Speaking of skookum drill results, Teuton Resources aka TUO and its JV partners released eight more hole from drilling at their Treaty Creek gold/silver project in BC's Golden Triangle.

Four of the holes were at the newly discovered Calm Before the Storm zone, further establishing near surface mineralization which will be followed up on next year as for now they are concentrating on expanding the already giant Goldstorm deposit, where step-out drilling continued to significantly expand the deposit by finding long intervals of minerlaization. But we also get something new, a high grade zone of 20.86 g/t AuEq over 4.5M within a 25.5M zone of 9.96 AuEq.

If they can continue to find similar high grade 'pulses', this could have a significant effect on the economics of mining even a huge deposit like Goldstorm. The company makes no such claims, but given the quality of this team of geologists, it would not be a surprise if they worked out why this pulse exists and hence where to look for others.

Message 33928969

African gold producer Centamin aka CEE relaesed its Q2 results, and they were mixed. On the production side, the changes instituted by new management continue to bear fruit, and they are on track to achieve 2022 guidance. Especially notably is the increase in both grade and tonnage after underground mining at Sukari in Egypt was brought back in house. (The actual numbers were 110778 oz Au at a cash cost of $868/oz.)

But as with everyone else, cost has become an issue due to inflationary pressures, and management expects that to continue into H2 and beyond, though the commissioning of the solar plant at Sukari this quarter could help with that. It is noticeable that their cash balance declined further to $US176M at the end of Q2, but they remain debt free and there will be less capital spending at Sukari in H2.

Message 33928918

In response BMO issued a new analyst report which called the results mixed and kept CEE at Outperform with a target of $C2.01.
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