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

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From: LoneClone11/11/2021 1:22:48 PM
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Endeavour Mining aka EDV released their Q3 results and they were, to use a technical term, darn good. They produced over 382k oz Au, down a bit from Q2, but they still managed a considerable increase in cash flow. As a result, they say they expect to exceed the top of their 2021 production guidance while managing to keep costs within that guidance. They expect to increase their share buyback programme, and are hinting at a very nice dividend at year end. Even after the shareholder returns, their cash stash is still more than $760M.

With the integration of their two big purchases pretty well complete, EDV will generate huge cash flow next year even while carrying out development and exploration programmes, so it is no surprise that the share price has reached levels not seen since 2008.

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Golden Goliath aka GNG released the results from the final 7 holes of its drill programme at the Kwai Au prospect in Ontario. The PR uses the ominous word 'anomalous' and, another bad sign, doesn't even bother to include the assays. In the discussion they admit they didn't find the source of the gold grains in till as they had hoped, but stress that they found all sorts of promising indicators. This was never going to be easy, as in this area the prospective strata are deep and covered by a thick layer of overburden. They are going to retire from the field and lick their wounds, er, I mean study the results and plan next year's exploration.

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FWIW, BMO released a new report on Wallbridge Mining aka WM, rating them at Outperform with a target of $1. They cite that the resource was at the upper end of their expected range, and that the open pit and underground bulk mining zones contained more gold than they expected. They also expect at least another 4M oz to be proved up, and expect an upward rerating once economic studies get underway.

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To: LoneClone who wrote (77706)11/11/2021 1:32:14 PM
From: james flannigan
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A global economic financial crisis in 22 23 like 08 09 might take the wealth effect away from would be tourists to the DR.Those families who control the resorts might find them empty if a severe market correction happens when the market figures out inflation is out of control not to mention covid is not over yet.Mining might not look so bad if its your only source of reliable income.But I agree until the permit is issued its a gamble.

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From: james flannigan11/11/2021 1:34:09 PM
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More bonanza results out of AMX today.

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From: LoneClone11/12/2021 4:29:42 PM
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Take a look at Minera Alamos aka MAI's share price today to see what happens when Osisko Royalties stops their stupid selling, up over 12%.

And FWIW, CIBC put out a new analyst report on Endeavour Mining aka EDV, keeping them at Outperform but raising their target from $41 to $46. They call it 'a cornerstone position in an investor's portfolio'.


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From: LoneClone11/14/2021 4:15:43 PM
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Teuton Resources aka TUO has concluded an option agreement on their Harry and Oultnad projects in BC's Golden Triangle whereby Optimum Ventures aka OPV can earn 80%. OPV is a new company and I expect them to throw lots of money into exploration, as they are obviously very interested in the properties, given they also had to pay to buy out JDN's previously existing JVs with TUO.


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From: LoneClone11/15/2021 5:38:33 PM
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Orsu Metals aka OSU released an update on their Sergeevskoe Au project in Russia. This property is situated between two operating gold mines and already has a resource, but this was the first modern systematic exploration programme across the entire property. Sampling has extended the mineralization across the property, essentially linking up those two operating gold mines, in the process generating seven targets which will be followed up in due course. In the meantime, the company has commissioned an updated Resource Report and a PEA.

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Thanks to all the new high grade properties Karora Resources aka KRR has added and is in the process of drilling up and preparing for production, it is easy to forget how prospective their foundational property at Beta Hunt is beyond the the coarse gold and the nickel. Most recently, they found gold interceptions up to 40.5 g/t over 4.0M in a new mineralogical setting while looking for more nickel, Another new discovery in the Larkin zone included the widest intersection yet found, 1.5 g/t over 90M. Neither of these area have existing gold resources.

These and other results indicate there is a lot more to be found at Beta Hunt.

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Minera IRL aka MIRL released their Q3 financials today, but since there is no line item for Money SIphoned Off to the CEO's Friends and Family, I won't spend any more time discussing it.

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From: LoneClone11/16/2021 1:52:51 PM
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First off, kudos to SI veteran Sultan for doing some detective work regarding the new company Kootenay Silver aka KTN recently spun off. It is called Kootenay Resources and was created to hold KTN's BC assets (or maybe just most of them; it's not clear to me).

Kootenay Resources is not listed. Sultan talked to a company rep at a gabfest and was told they are planning to list it once they raise enough money to meet the exchange's minimal financial requirements. Given that Eric Sproot owns around 10%, maybe Uncle Moneybags will take the lead role.

I-80 Gold aka IAU released the first set of drill results from it Granite Creek gold project in Nevada. IAU is aiming to bring Granite Creek into production, both from an open pit containing oxide mineralization and from underground refractory ore. They have completed 13 holes so far but have only received assays from 4, but those four all contain impressive intercepts, such as 14.7 g/t Au over 10.2M and 16.4 g/t Au over 3.4M in hole iGS21-04, which will help expand the underground resource, which remains open.

With all they have going on, expect a lot of newsflow from IAU. I also expect more analysts to take notice.

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Calibre Mining aka CXB released a PR today announcing the discovery of a new high grade gold trend a the Volcan Au prospect, located less than 5 km. from CXB's Libertad mill in Nicaragua. The discovery remains open in all directions, and will eventually provide ore to the mill.

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FWIW, before that PR was released, TD released a new analyst report on CXB which the discusses the impact of the recent Q3 results plus the announcement of the acquisition of Fiore Gold which operates in Nevada. TD sees the impact as neutral and kept CXB at Buy with a target of $2.75.

And Rio2 aka RIO released a PR detailing another portion of the financing of the construction of their Fenix gold mine in Chile. The mine will cost US125M-135M to build. RIO has already completed a $35M equity offering, and this signing of a gold stream deal with Wheaton Precious Metals brings in another %50M. The remaining $50M-60M will come from a debt facility currently being finalized with BNP Paribis. I am hoping they reach their goal of first production before year end 2022

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From: LoneClone11/17/2021 3:24:40 PM
1 Recommendation   of 77868
We have news from Teuton Resources aka TUO about the drill programme recently completed by DEC on their Del Norte JV in the Golden Triangle in northwest BC. We now have assays from 10 of 16 holes drilled along the Argo/LG structure, analogous to that which host the Eskay Creek mine not far away. They have pulled some more decent intercepts, including 1408 g/t AgEq over 9.91M and 477 g/t AgEqq over 15.2M, and regardless of the remaining assays in the lab, are planning a more extensive drilling campaign exploring Argo next year. There will be more to explore too; they have been drilling on isolated rock islands within existing glaciers which will grow as these glaciers recede due to global warming.

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To: LoneClone who wrote (77714)11/18/2021 12:49:49 PM
From: LoneClone
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Sandstorm Gold Royalties aka SSL released a PR concerning their 30% interest in the Hot Maden Au/Cu project in Turkay. It wasn't the news we had been waiting for, the release of the PGBS, but still a positive development, the approval of the Environmental Impact Assessment (EIA) by the Turkish government. My notes on SSL says that both the EIA and the PFBS were supposed to have been done in September, so the PFBS must be getting pretty darn close, or as the PR says, 'in the coming weeks".

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FWIW, in response RBC released an analyst report that calls the development positive, noting that the 30% ownership share plus the 4% NSR represent 50% of SSL's NAV, but maintain their usual negative stance, keeping them at Underperform with a target of $US7. BTW, both RBC and I expect SSL to convert their ownership to a royalty interest at some point.

Calibre Mining aka CXB released a PR about the appointment of a new CFO. That David Splett is an interesting choice is detailed on the IKN blog. It just so happens that his previous job was as CFO of Elevation Mining (formerly Northern Vertex), which is rumoured to be the next takeover target for CXB. Hmmmm.

Capitan Mining aka CAPT released another set of drill results from the Capitan Au oxide deposit at the Peñoles property in Durango Mexico. By this point the geologists have a good grasp on the mineralization on the property, with all five reported holes intersecting both the main Capitan zone and the Hanging Wall zone. Again, the assays are not high grade, with all but a few short intervals reporting under 1.0 g/t AuEq, but the Capitan deposit remains open in several directions. Yes, the ore is oxde and extends from surface, but they probably still need a fair bit more to lay the groundwork for an economic mine.

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And Orestone Mining aka ORS announced that "due to delays beyond the Company's control" -- apparently not money, but would it have killed them to tell us what caused those delays? -- the drilling progrmme at their Captain Au/Cu prospect in northern BC has been delayed to Q1. We will have to wait to see if the the geophysics has really defined the porphyry they are looking for.

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Both the PoG and GDX continue to consolidate recent gains. Given the negative fundamental backdrop, Saville still expects a drop, likely back to the August low, once the current uptrend comes to an end.

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From: james flannigan11/21/2021 8:38:45 AM
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Keep your eye on HIGH this week.

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