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

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From: LoneClone10/18/2022 5:13:07 PM
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I am surprised. B2Gold aka BTO just announced they had a lousy Q3, coming in well under expectations by producing only 227k oz Au, this following three straight sub-par quarters, and yet the stock is trading up slightly today. I presume this is because they are still promising to meet 2022 guidance anyway, but if you look more closely, you will find that just to meet the bottom end of guidance they will have to produce 330k oz Au in Q4, an amount 20k oz higher than what they have ever achieved.

Can they pull it off? Perhaps. They are blaming the Q3 shortfall primarily on two factors: heavy rains at the Fekola mines in Mali meant they had to process some low grade stockpiles instead of higher grade fresh ore; and there were delays in bringing into production the high grade underground Wolfshag mine at their Otjikoto property in Namibia.

Message 34042731

In response TD put out a new analyst report on BTO called the impact Negative while keeping them at Action List Buy with a target of $9.

All summer long Goliath Resources aka GOT has been reporting on the drill prgramme on the Surebet Au/Ag zone at their Golddigger property in BC's Golden Triangle, feeding us breathless prose about long intercepts of what looks like mineralization, but, ever so frustrating, no assays. Now they have announced that the 92-hole drill programme is complete and yet we still don't get even a single assay! Yes, they appear to have greatly expanded Surebet, and it remains open in multiple directions, but until we get some assays we have no idea what is really there. And worst of all, we are given no indication of when any assay results might be released.

This month? This year? 2025? Who knows?

I find the whole circus bizarre. Maybe it is explain by the involvement of someone I usually avoid, Quinton Hennigh.

Message 34042804

We get an update from Orestone Mining aka ORS regarding their Captain property in north central BC, where they have been working to discover the type of large gold/copper porphyry that has generated several producing mines in the area. Most recently, airborne geophysics has defined three large targets on a 5km trend, and they are currently concentrating on the gold dominant T1 target, which encompasses more than a cubic kilometre of rock. It turns out previous drilling had only tested the fringes of the target, so they are currently planning a followup drilling campaign. One advantage of their location is that unlike in most parts of northern BC, they can drill from surface in the winter, so drilling will begin within a few months.

In response, ORS's share price is up 50% today, but before you get excited, that took them from 2 cents a share to 3 cents, albeit on about 20 times their usual trading volume. However, this low share price and the low flat, well under 100M shares, means if they find what they are looking for the returns will be enormous compared to the current share price.

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Today we got a very annoying news release from Kootenay Resources aka KTN providing us with yet another example of a disturbing trend we are seeing too often of late, companies that could have raised money at a much higher share price earlier in the year not only waiting until their share price is in the tank, but pricing it even lower than that. KTN could have raised the money a few months ago when the share price was double what it is now, but instead they waited until it tanked and priced it even lower, at 10 cents. Needless to say, the share price has tanked further in response.

Why are these companies so intent on trashing the holdings of current shareholders?

I just hope they use some of the money to get the currently worthless Kootenay Resources shares they spun out listed on an exchange.

Message 34042859

I-80 Gold aka IAU released another set of high grade drill results from the South Pacific Zone on the Granite Creek property in Nevada, one of four mines they will be opening over the next few years. The headline results include 23.2 g/t Au over 5.3m, 9.9 g/t Au over 11.9m, and 15.7 g/t Au over 6.6m. Promisingly, the last of these comes from the most northerly and deepest hole to date, and the SPZ remains open at depth and to the north.

The current drilling programme is complete, so now it's on to a revised Resource Report and a PEA, expected in Q1, followed by more drilling.

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