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

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From: LoneClone8/3/2022 2:46:56 PM
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Frankly Speaking

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Kootenay Silver aka KTN announced they have sold their remaining interest in the Cervantes gold/silver prospect in Mexico to their JV partner Aztec Minerals. In return they get 10M shares of Aztec at a deemed price of 25 cents a share, making KTN Aztec's largest shareholder, plus a 0.5% NSR.

This JV has provided most of KTN's newsflow this year, but with drilling well underway at KTN's 100%-owned Columba Au prospect in Chihuahua, we should be getting some results from that before too long.

Message 33947662

Teuton Resources aka TUO and its JV partners on the Treaty Creek gold/silver project in BC's Golden Triangle released another set of drilling results from the already enormous Goldstone deposit on the property. This release covers just one hole but it is a very interesting hole in several respects. First off, it is a stepout hole 225m to the northeast where the deposit remains open, raising the possibility of a significant addition to the resources at Goldstorm.

But perhaps more importantly, the headline intercept of 70.96 g/t AuEq over 1.0M within 39.15 g/t AuEq over 2.0M is the highest grade intercept so far at Treaty Creek. Intriguingly, it raises the possibility of a new style of mineralization similar to that found at the nearby Brucejack Lafe mine developed by Pretium and now operated by Newcrest. If this is confirmed by followup drilling and analysis, it could be very significant.

Message 33947714

Karora Resources aka KRR released more drill results from the Western Flanks zone at its Beta Hunt gold mine in Australia. This drilling, outside the existing resource envelope The drilling not only extended the Western Flank Deeps with intervals like 13.6 g/t over 5.3M, including 0.6m @ 113 g/t, it also found a new footwall zone with intercepts like 2.8 g/t over 17.7M. As this drilling proceeds it should provide significant additions to the new Resource Report for Beta Hunt, expected later this year.

Message 33947734

Endeavour Mining aka EDV released its Q2 results, and they were better than I thought, primarily because them being domiciled in London meant that favourable moves in exchange rates more than offset the increases in fuel costs that are bedeviling all miners. They managed to produce 354k oz Au, with costs in line, allowing them to reiterate annual guidance both in terms of gold produced and costs. They made enough profit to increase their cash stash to almost $1.1B even while they paid down debt by $120M, increased the H1 dividend to $100M and continued to buy back shares.

To me, EDV has done the best of the big gold miners in this period of high costs. I sure hope the markets recognize this.

Message 33947758

i-80 Gold aka IAU released more drilling results from its Granite Creek gold property in Nevada. This will be the first of four gold mines in Nevada they will be bringing into production over the next few years. In effect, it is already in production, because they are busy extracting a 10kt bulk sample which will be send to Nevada Gold Mines nearby facility for metallurgical testing and processing. (The processing will be brought in house once their Lone Tree autoclave has been renovated.)

The drilling itself continues to produced high grade intercepts, the featured ones being 16.0 g/t Au over 33.9 m and 24.4 g/t Au over 14.6 m, mostly in the Ogee zone which will be the first production area. That said, some of the best results were in other zones much closer to surface. Based on what they have found so far, I expect the upcoming Resource Report to be very robust.

Message 33947827

Meanwhile, Saville has turned more positive on gold as the markets are starting to anticipate an end to the rise in interest rates, removing the major downward pressure on the PoG. He is now anticipating a target of $1850-1900 in the next two months, or by yearend at the latest. That said, it may take some time for gold stocks to react given their increasing costs.
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