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   Gold/Mining/EnergyGold and Silver Juniors, Mid-tiers and Producers


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To: LoneClone who wrote (77675)11/3/2021 1:02:08 PM
From: LoneClone
   of 77845
 
Kootennay Silver aka KTN released the assays from 3 more holes drilled into the D-Vein at their Columbo Ag/Pb/Zn property in Chihuahua, Mexico. The geologists appear to be getting a good handle on the minerlaization, which increases in strength and thickness at depth, with the headline intercept of 453 g/t Au over 29.9M including 650 g/t over 17.8M and 932 g/t over 6M Given that drilling so far has covered only a third of the 500M plus extent of the D-Vein, another drill programme is planned in hopes of proving up a minable resource.

Message 33557631

B2Gold aka BTO released its Q3 financial results yesterday, and most of the numbers looked good. Earning were slightly below expectations but free cash flow was higher. The problem area, which we will see across the sector, was an increase in costs due to higher prices paid for fuel, reagents, and the like. The company slightly raised production guidance for the year to just over 1M oz Au, and maintained cost guidance with a warning it would be at or near the top end.

I am still contemplating whether it might be a good time to switch my gold major holding, which I switched from BTO to EDV last year, back to BTO on the basis of potentially higher upside from current prices. At present, my plans are to wait for the EDV Q3 results which are due Nov. 11.

Message 33557560

FWIW, TD maintained BTO at Buy with a $9.50 target, while RBC kept them at Sector Perform with a target of $US5.75 (=$C7.14).

The INK folks published and insider report on i-80 Gold aka IAU. They document how, just like on the last price dip in September, the CEO and directors have bought a bunch more shares on the current pullback, as we await the details on the Orion financing which wraps up the recent set of transactions which has morphed the company into a near term producer from its Nevada gold mines.

I doubt this link will work for everyone, or maybe anyone, but I will post it just in case it does. If you have a TDW account, make sure you log in to that before trying to access this.

marketsandresearch.td.com

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From: LoneClone11/4/2021 1:50:34 PM
   of 77845
 
In some welcome news, Oceanagold aka OGC announced the restart of processing at their Didipio Au/Cu mine and mill in the Philippines, following a hiatus caused by delayed permits. At present the mill, which underwent upgrades during the break, is processing only low grade stockpiled ore, but as mining operations ramp up to previous rates over the coming 8 months, the grades processed will increase, but even the low grade ore will generate a profit.

Message 33559346

Speaking of welcome news, Minera Alamos aka MAI announced the first production of gold dore from their Santana mine and mill in Sinaloa, Mexico. The 18 months from the start of construction to the start of production was longer than expected, primarily due to Covid, but the good news is that the excellent results from test leaching and processing, rapid leaching and low reagent consumption, are continuing into production. They will continue to ramp up mining and milling over the coming months, even as the focus turns to building their next mine, likely at Cerro de Oro in Zacateca, followed by La Fortuna in Durango.

Message 33559365

Here's a post from the IKN blog regarding what has been suppressing the share price of MAI, persistent selling by Osisko Gold Royalties, shares acquired through a financing deal. (Sean Roosen makes the decisions at OR.) It's a little crude, being from the blog, but aptly captures the opportunity OR's stupid selling gave the likes of me, who added a bunch of cheap MAI shares to my stash last week.

It is noticeable that MAI has finally broken out today, whether due to the move in the PoG or today's PR or the cessation of the OR dump, or all three. Whatever the cause, I hope it continues.

iknnews.com

Sandstorm Gold Royalties aka SSL released its Q3 financial report. The big news is that they are finally instituting a dividend policy, projected to start at 2 cents a share in the first quarter of next year. Shareholders have been waiting quite a while for this.

The final results for Q3 were 15514 attributable AuEq oz at a cast cost of $238/oz. leaving a nice fat margin of $1541 per ounce. They are also continuing their share buyback programme, cancelling 2.3M shares during the quarter.They also increased their 2021 guidance to 64k-69k AuEq oz. Notably, they increased their available credit lines to $350M during the quarter.

It will be interesting to whether instituting a dividend will lead to a bump in the share price, which looks like it might have bottomed after a multi-month decline.

Message 33559151

FWIW, TD saw the quarter as slightly positive and maintained SSL at Buy with a target of $12.50. They expect the long-awaited feasibility study for the Hot Maden project in Turkey to be released in Q4.

Calibre Mining aka CXB also released their Q3 results. The headline result is the production of 44579 oz Au at a cash cost of $990 per oz Au. This allowed them to build their cash stash to $73M, and they remain unhedged and debt-free

But that is just the headline. I am re-familiarizing myself with the company for the first time in a few years, and much has changed. They now have three operating mines in Nicaragua, at Pavon, El Limon, and La Libertad, with the latter two also featuring operating mills. As well, they will be starting permitting at the very promising Borosi property in a few months, and are actively exploring at all these concessions in an effort to prove up more resources. They really do have a lot going on in Nicaragua. I will leave you to explore the details yourself if you are intrigued.

And then, they recently announced a buyout of Fiore for its operating gold mine and two projects in Nevada. The main thing has kept me from considering CXB as a prospect for investment is the country risk in Nicaragua, as the former Sandinstas continue to morph into just as oppresive a regime as the one they were created to overthrow. Hence, I need to consider how much the addition of the Nevada properties mitigates that risk. So far it seems enough to keep me holding my current Fiore shares as they are converted into CXB shares once the transaction completes, but I reserve the right to change my opinion pending further study and contemplation.

Message 33559231

FWIW, TD saw the impact of Q3 as slightly positive, and maintained them at a Buy rating with a $2.75 target.

Nomad Royalty aka NSR also released their Q3 results yesterday. It was a good quarter, with Au earned increasing to 2527 oz and Ag increasing to 29929 oz, and revenues increasing to $6.1M and their cash stash to $24.6M.

Q3 was a transformative quarter for NSR thanks to them listing on NYSE the acquisition of a royalty on the producing Caserones copper mine. We shall see whether this leads to a re-rating of the shares.

Message 33559323

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From: james flannigan11/5/2021 10:38:39 AM
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HIGHGOLD has just stated it first drill program at its new Ontario property where at a mine old timers mining in the 30s called 3oz/PT waste rock.It was one of the richest mines ever in Canada and rock samples of 20% gold are on display at the Royal Ontario Museum.90gt waste rock??? I can hardly wait to see the drill results.One to watch.Also 40 holes pending from the Alaska project that the first hole into the Difficult Creek reported a stunning 578 gt au and 2200 gt ag hole over 6.4m.I think HIGH could get very interesting.Also waiting for more VG holes from AMX.The labs are so jammed up they are quoting up to 16 weeks for results.Too bad for that.

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To: LoneClone who wrote (77680)11/5/2021 3:11:34 PM
From: james flannigan
   of 77845
 

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To: stuffbug who wrote (77651)11/5/2021 3:16:36 PM
From: Logain Ablar
   of 77845
 
Endeavour dividend showed up in my C. Schwab account overnight, a five week delay.

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To: Logain Ablar who wrote (77684)11/5/2021 4:58:52 PM
From: LoneClone
   of 77845
 
Mine showed up on Oct.30, not much sooner. Oh well, as long as it shows up eventually...

LC

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From: kidl11/6/2021 11:31:47 AM
   of 77845
 
KRR had a great run in the last few weeks. Up about 50% and pretty well closed at the 52 week high as the warrant expiry games came to an end.

This week pretty well got rid of the shares I added in Aug / Sept. Now back to a still slightly overweight position which I will likely hang on to.

The resulting problem … Cash which I am not sure what to do with. I’d like to keep this money in the same sector but I don’t see anything really exciting.

Thoughts / ideas welcome and no, I will never blame anyone but myself for a bad call :-)

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To: kidl who wrote (77686)11/6/2021 12:45:12 PM
From: LoneClone
1 Recommendation   of 77845
 
You've really done a good job of trading KRR and the warrants; congrats.

IMO both RIO and MAI are undervalued right now, particularly the latter. I have a target of $2 for both over the next few years, as they bring their mine, and their other two mines, respectively, into production.. (I have written extensively about both on this board so will not go over it again.)

LC

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To: LoneClone who wrote (77687)11/6/2021 12:58:10 PM
From: LoneClone
   of 77845
 
I was just reading through the latest PR from International Tower Hill Mines aka ITH, and it is a perfect example of the perils of optionality.

ITH owns the very large but low grade Livengood gold property in Alaska. They have been working away on it for many years, going quiet when the gold price is low and getting active again when it's higher.

This PR concerns the release of a PFBS for Livengood, and trumpets the size of the resource. But there are only two numbers you need to look at.

Capex is $2B.

Even at $2500 gold, the IRR is only 18.5%.

No one is going to build a mine with those kind of numbers. I am sure they can spend a few more years tweaking things and improve those numbers a bit, but it would still require gold to be over $3000 for the numbers to look good enough for anyone to consider funding them.

But of course, if gold was over $3000, this would make the numbers from hundreds of other projects improve even more, so I bet Livengood would never get funding even then.

Stay away from ITH.

Message 33562732

LC

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To: LoneClone who wrote (77688)11/6/2021 1:18:29 PM
From: LoneClone
1 Recommendation   of 77845
 
We've had two pieces of news concerning Kootenay Silver aka KTN.

The first concerns their JV with Aztec Minerals aka AZC on the Cervantes Au/Cu.Mo prospect in Sonora, Mexico. The main thrust of the programme is drilling to follow up some decent intersections at the California zone, where they are trying to define an open pit heap leach resource, but they will also be drilling at three other prospects.

Message 33562762

The second concerns the recently spun out company Kootennay Resources, created to hold most of their BC properties. Unfortunately, they have given no indication of any attempt to list the company, meaning the shares are in essence worthless to the shareholders who received them.

It turns out that if Eric Sprott exercises the warrants he holds, he will own over 11% of the unlisted company.

I will continue to ask the company about any plans to list the shares, but have received no response so far.

Message 33562782

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