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


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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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To: kidl who wrote (77686)11/6/2021 2:27:59 PM
From: Logain Ablar
1 Recommendation   of 77845
 
Hi kidl:

Well having some cash coming into tax loss selling season is not a bad position to be in. I haven't started to make my list but Pure Gold and Marathon Gold will be on it.

I do like HighGold based on their step out drill result at their Johnson Track in Alaska. They are still waiting for some drill results.

If you want to look into some of the oil drillers I'd suggest listening to one of the Eric Nuttall interviews on Market Call. He was on yesterday.

Market Call - Shows - BNN Bloomberg

Of course if this bounce in Gold turns into a resumption of the bull market (I believe breaking $1,837 will do it but confirmation would be just over $1,900) tax loss selling is probably over.

I already have a position in HighGold although may add depending on my available cash.

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To: Logain Ablar who wrote (77684)11/7/2021 4:30:43 PM
From: Logain Ablar
   of 77845
 
Follow up on Endeavour dividend - if you have a Schwab account.

In e mails with Computershare in London I'm not listed as an individual shareholder but Schwab is as custodian. Endeavour ends up issuing a check to Schwab.

I still have to hear back from Schwab on this. It does appear this will be a 5 week process. Fortunately there was no withholding.

Under U.S. / U.K. Tax Treaty there is not tax on dividend so there should be no withholding.

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From: LoneClone11/8/2021 6:01:49 PM
2 Recommendations   of 77845
 
Karora Resources aka KRR released its Q3 financials today. We already knew production was strong at over 30k oz Au, but now we know that tonnes milled and grade were up and costs were similar compared to last quarter. The company reaffirmed 2021 guidance of 105-115k oz Au.

KRR's strong financial position continues to improve, Cash flow and earnings were up, and even though they spent a lot on development, thanks to $10M+ from the exercise of warrants their cash stash is up to $86.7M. with no debt. As newer high grade areas are brought into production and they start producing nickel again, I expect the cash on hand to grow steadily, perhaps the main reason the shares are trading at a 10-year high. Now we just need some coverage from the Canadian brokerages.

Message 33565530

I won't give details -- you'll have to be a subscriber to get them -- but the IKN newsletter spent plenty of time on Minera Alamos aka MAI, detailing how continued selling by Osiisko Royalties has the shares at fire sale prices even as production at their Sanatana gold kine in Mexico ramps up to commercial production by January. I am tempted to add more to my already outsized position; anything under 60 cents is a bargain at this point.

Gold is still coiling, but Saville sees the fundamentals as finally starting to improve, though he still warns of the possibility of a dip below the August low before a proper advance gets underway again.



Likewise, the weekly chart fir GDX is getting more bullish


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From: LoneClone11/9/2021 1:31:21 PM
1 Recommendation   of 77845
 
Hemlo Explorers aka HMLO sold off this morning on the basis of their latest drill results from their North Limb gold project in Ontario. This is no surprise, given the appearance of the ominous word anomalous in the headline. 'Anomalous' is usually code for very low assay results, and this is borne out when you read the actual assay results . 'Ppm' is never a good sign when searching for gold, but these drill results, even worse, are reported in ppb., or parts per billion. Yikes!

They say they are 'satisfied' with the results, and outline how they found other trace elements similar to the Hemlo mine not far away, but that mine is famous for being high grade, not parts per billion. The PR says nothing about future plans, but given how long HMLO has been poking around on the property, you have wonder how much more money they are going to be able to raise for exploration.

Message 33566554

Last week I profiled ITH's ridiculous PFBS for their low grade Livengood gold project in Alaska, with initial capex over $2B delivering an IRR well under 20% at current gold prices. Today, i-80 Gold aka IAU released a PEA for their Granite Creek gold project in Nevada that has the kind of numbers you like to see with initial capex of under $7oM delivering an IRR of 34.3%.

This PEA includes both underground and open pit mining, as well as the construction of a heap leach on the property to process the oxides while processing the sulphides at a third party facility. However, IAU recently purchased the nearby Lone Tree facility which can process this ore, something that will be incorporating into the coming PFBS.

IAU isn't messing around here, The PEA wasn't supposed be complete till Q1 2002, which is when, I assume we will get the PFBS, or maybe they will go straight to an FBS.And even while drilling up a storm and doing feasibility studies, they are already are doing some underground test mining while waiting for permits to begin open pit mining.

If IAU can, as I expect, display the same alacrity on their other Nevada gold projects, they will soon become a cash flow machine.

Message 33566577

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From: james flannigan11/9/2021 2:39:14 PM
   of 77845
 
Pretium signs takeover agreement with Newcrest

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