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

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From: LoneClone11/15/2021 5:38:33 PM
   of 77845
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.

Message 33575003

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.

Message 33575032

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
2 Recommendations   of 77845
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.

Message 33576337

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.

Message 33576362

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 77845
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.

Message 33578259

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To: LoneClone who wrote (77714)11/18/2021 12:49:49 PM
From: LoneClone
   of 77845
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".

Message 33579586

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.

Message 33579719

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.

Message 33579754

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
   of 77845
Keep your eye on HIGH this week.

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From: kidl11/22/2021 9:49:18 AM
2 Recommendations   of 77845

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From: LoneClone11/22/2021 3:10:35 PM
   of 77845
I-80 Gold aka IAU released an update on McCoy-Cove, one of four gold properties in Nevada they are advancing towards production. They have owned this one the longest and know it the best, which makes today's announcement exciting. Early next year a contractor will start building a 1000M+ long decline which will be used to conduct a 40000M drilling campaign whose purpose will be to upgrade the existing resource, one of the highest grading in North America, through infill drilling. As the ore is refractory, what makes this development work is the deal they have with Nevada Gold Mines to use their facilities while IAU recently purchased of infrastructure at Lone Tree is upgraded.

Message 33585771

Riverside Resources aka RRI has been a successful project generator in Mexico for years, so it was unexpected when in August last year they announced they had staked three properties on a little known greenstone belt near Kenora in Ontario. But given their history, I shouldn't be surprised that they have already found a buyer for the properties. They will receive $125k and retain NSRSs when they complete this deal with Golden Retriever Resources, a presumably private company I had never heard of.

Message 33585812

Impact Silver aka IPT released its Q3 results, as the company continues to wake up from a long period of somnolence. They have several mills and multiple mines, producing and non-producing, at their adjoining Zacualpan and Mamtla properties in Mexico, producing silver and various byproduct metals. Q3 was a transitional quarter focused on development of areas for future production, so Ag production was down a bit and costs crept up, but they were still able to generate positive cash flow and a net profit, increasing their cash stash of $21.5M with no debt.

The best new is that they are remaining ambitious. They are ramping up exploration and have bought a fourth drill, and are looking at bring the Capire open pit, which used to be a money spinner even at lower metal prices, back into production.

Message 33585845

Queen's Road Capital aka QRC, who are different from the usual royalty/streamer company in that they issue debentures which generate cash flow used to pay dividends, released an update today, aannoincing that 74% of the shares opted to used the their recently instituted DRIP programme, taking shares rather than cash as their dividend. They are going to take the cash that would have been paid out in dividends absent the DRIP and use it to establish a share buyback programme. There was no indication as to whether this would be continued for future dividends.

The dividend has not yet shown up in my TDW accounts so I don't yet know whether I have received money or shares. I am hoping the latter, and will be bugging TDW if I get cash instead. TDW normally make these decisions on a stock by stock basis, which they then apply to all shareholders in their accounts.

Turning to Minera IRL aka MIRL, things are coming to a head in the attempt by shareholders to oust the corrupt CEO in the upcoming AGM. Just when you think the saga can't take another turn, it does. You can follow the details at this board.

Subject 58319

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To: LoneClone who wrote (77718)11/24/2021 3:18:06 PM
From: LoneClone
2 Recommendations   of 77845
You wouldn't know it by the share prices, but Teuton Resources aka TUO and its JV partners today announced the discovery of a 4th gold deposit on their Treaty Creek property in the Golden Triangle of BC, with a headline assay of 1.30g/t AuEq over 53.9M within 155.5M of 0.82 g/t AuEq. This year's exploration is now complete and the camps have been closed, but there are still a number of assays pending which will give us a better picture of this new zone, which has been named Calm Before the Storm or CBS. The area was until recently cover by glaciers, and highlights the potential for even more discoveries as the melting, alas, continues.

As we wait for the remaining assays, we can contemplate which the share price is so low. I sold some shares at double the current share price not so long ago, and there have been many positive developments since.

Message 33589644

Sandstorm Gold Royalties aka SSL announced the long awaited results of the FBS on the Hod Maden gold/copper project in Turkey. (SSL holds a 30% net profits interest plus a 2% NSR.) The numbers look very good to me, delivering an NPV of over $1B and an IRR of 36% at copper and gold prices much lower than the current levels.

Their Turkish partner is processing apace. Permits have already been submitted and are expected to be granted by the middle of 2022, whereupon construction will begin aiming at first production in the second half of 2024. I still expect the net profits interest to be sold or converted into a larger NSR, but am glad to know that even if they don't , SSL's share of initial capex is estimated at only $32M.

Message 33589680

FWIW, in response TD issued a new analyst report which calls the FBS results slightly positive but keeping SSL at Buy with a target of $12.50

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To: LoneClone who wrote (77719)11/24/2021 5:43:57 PM
From: kidl
   of 77845
SSL / Hod Maden … If Erdogan goes, it may become an asset. If Erdogan stays or another Erdogan takes over (not an unlikely scenario), it’s a waste of time and money.

Current Hod Maden value: Zero IMHO.

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To: LoneClone who wrote (77719)11/24/2021 8:44:42 PM
From: Pianoman1997
1 Recommendation   of 77845
I just acquired some AMK below 20 cents and also TUD. I am in no hurry will wait for the return of gold bull.

I have a feeling that AMK might be the first one to be taken over. Will TUD try to control even more of TCreek or will TUO try to grow its share? Or will SEA go for it as well? Majors will probably wait for $2000 GOLD Grades are not fantastic but you can plan a large operation there and dig all your life and still find gold.

The price for any of the 3 partners is hard to resist if one keeps a mid-long term view.

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