| From: LoneClone | 12/15/2021 1:25:03 PM | | | | | | Teuton Resources aka TUO along with its JV prtners TUD and AMK released another set of results from drilling at their Treaty Creek gold/silver/copper project in BC's Golden Triangle, and like all their drilling this year, it was a complete failure in that it failed to meet the stated goal of finding the limits of minerlaization. No matter how much they drill, the Goldstorm deposit continues to remain open in most every direction, with several holes ending in very deep minerlaization.
Mind you, this was infill drilling, so with a deposit of this magnitude it is not a surprise they continue to find mineralization, with the best news from this set of results is that much of it starts at or near surface. Although exploration is shut down till spring, there are still results to report from this drill programme and other exploration to tide us over until it resumes.
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Nomad Rpyalty aka NSR released an update today. They have closed their deal with Orion for a gols stream on the Greenstone gold mine in Ontario, currently being constructed by Orion and its partner Equinox Gold. This deal should pay off handsomely in the long run, but not until after the first gold pour, currently scheduled for 2024.
NSR also released updates on a number of their other streams and royalties. The most important to current income is the Blyvoor gold mine in South Africa, and here we get both good and bad news. The good news is that the mine has become cash flow positive for its operators, meaning the restart has been a success and production will continue to deliver ounces to NSR, but unfortunately there have been delays so guidance for Q4 deliveries to NSR have been reduced to 4k-5k oz Ag. (The PR uses the word 'updated' rather than 'reduced'.)
This is mining, so there also announced delays before some of their other streams and royalties bearing fruit, including Woodlawn, where they now expect no deliveries in 2022. But there is also some good news; things seem to be going well at EQX's Mercedes Au/Ag mine in Mexico and at ABX and partners' South Arturo gold mine in Nevada.
Several other projects on which NSR has streams or royalties are starting construction next year, so they should start providing metal in 2024 or 2025.
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Northern Shield Resources aka NRN released a brief update on its Root & Cellar Au/Ag/Cu prospect on the Burin Peninsula in Newfoundland. The main news is that they have completed a 14-hole drill programme but the samples are sitting in the lab with no timeline given for when assays might be released. They do think they are seeing hydrothermal breccia in the drill core, and they have found some more high grade grab samples, but it is the drill assays that will tell the tale.
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FWIW, Scotia issued an analyst update on i-80 Gold aka IAU in the wake of yesterday's PR regarding the details of the financing for their various PM projects in Nevada. They see the PR as positive after seeing the details and kept IAU at Sector Outperform with a target of $4.75. |
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| From: LoneClone | 12/16/2021 5:11:57 PM | | | | | | Sanstorm Gold Royalties aka SSL made an announcement I for one have been waiting for for a while. They are finally declaring their first dividend. It's not much, just 2 cents a share, and they take great pains to assure us that there is no guarantee they will ever declare another, but they and we know that is just legal cover. Expect the dividend to continue and increase unless the PoG craters.
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One time favourite on this board, Chesapeake Gold aka CKG, released an update today on its large but low grade Metates Au/Ag/Zn project in Mexico. CKG just hasn't got much traction so far in this gold bull, in spite of releasing a new mine plan that reduces development capital requirements by over 90%. They continue to beaver away at metallurgy and other technical issues plus some regional exploration. As usual for this company they have plenty of cash, $32M, but they still need to find a way to gain some traction in the market.
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Kootenay Silver aka KTN released assay results from the final three holes of their 2021 drilling campaign on the Columba Ag/Pb/Zn property in Chinuahua, Mexico. These holes were all drilled in the prospective B vein, with the headline result being 1,050 g/t Ag over 2.0M within 667 g/t Ag over 7.05M. As pointed out by the geologist, that mineralization in this vein only becomes high grade 100M deep means less chance that valuable mineralization has been eroded away.
More drilling in planned in 2022. One assumes that based on these results, KTN will be attempting to find a JV partner to help pay for it.
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Edison has a new report out on Endeavour Mining aka EDV. You may need a membership to access it via this link
edisongroup.com |
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| From: LoneClone | 12/17/2021 11:53:40 AM | | | | | | Alexco aka AXU released the rest of the drill results from the Bermingham Northeast Deeps zone, part of its Keno Hill Ag/Pb/Zn mines and mill in the Yukon. The drill programme has defined what looks like a new mining area, with the veins being defined along a 500M zone at least 100M in depth just 150M below the existing Bermingham Deeps reserve. We'll get a better idea when they release a new Reserve Report for Bermingham before the end of 2021.
AXU also reminded us there are other enticing exploration prospects around Bermingham. As well, we got an operations update, assuring us that production is expected to reach the target of 400 tpd in Q1.
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Some bad news regarding Minera IRL aka MIRL; at the AGM the crooks in charge were voted back in, albeit with votes against ranging between 29% and 36%. Unfortunately that will likely not be enough to get them to mend their larcenous ways.
ca.finance.yahoo.com
For years, Bear Creek Mining aka BCM has been trying and failing to build the Corani silver mine in Peru. They are finally changing tack by announcing they are purchasing the Mercedes Au/Ag mine in Mexico from EQX, with the stated goal of using the cash flow to build that silver mine. However, the Mercedes mine is hard to run profitably and for that reason has been a hot potato. A few years ago, Yamana Gold, who had been losing money on it, sold it to Premier Gold, who continued to have problems before vending it to EQX as part of the set of transactions that created I-80 Gold. We'll see if BCM can turn it into a money spinner, but even if they do, the locals in Peru remain firmly opposed to the construction of Corani.
At this point BCM is high reward, but IMO even higher risk. No thanks
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Much of the cash needed by BCM to purchase Mercedes will be provided by a gold stream purchased by Sandstrom Gold Royalties aka SSL. Now we know why SSL announced yesterday they are paying their first dividend, as this acquisition will be immediately cash-flowing. SSL is paying $60M in return for the stream, and as a result of the purchase increased 2022 guidance to 65-70k oz AuEq They will be financing the purchase with a combination of cash on hand and their revolving credit facility.
SSL also announced that this year they had purchased on the open market over 44M shares of Entrée Resources aka ETG, who operate in Mongolia. Together with previously held shares and warrants, they now control about one quarter of ETG's shares, which they say are being held for investment purposes.
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Will gold stocks make a double bottom or continue downward? We shall see...
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| From: LoneClone | 12/20/2021 6:07:00 PM | | | | | | FWIW, I have seen three new analyst reports since Sandstorm Gold Royalties aka SSL announced the gold stream/debenture deal with Bear Creek Mining, which is buyin gthe Mercedes mine in Mexico from Equinox Gold. All three saw the deal as slightly positive and noticed it will help with near term cash flow, but none of them changed their target or rating.
TD Kept them at Buy with a target of $C11.
RBC kept them at Underperform with a target of $US7.
BMO kept them at Market Perofrm with a target of $C9.
SSL is certainly divisive; one rarely sees such a spread among forecasts for mining juniors. |
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| From: kidl | 12/21/2021 10:00:42 AM | | | | | | Anyone with access to the complete list?
CIBC offers 52 potential tax-loss bargain buys
By Jameson Berkow
‘Tis the season for tax-loss bargain hunting and the Canadian Imperial Bank of Commerce’s equity research team is offering a few dozen ideas.
Selling underperforming investments for a loss – thus allowing investors to offset taxes on their capital gains - usually occurs between late November and mid-December. Afterward, “bargain hunters may use the weakness as an opportunity to pick up candidates that are trading near their 52-week lows,” explained CIBC Chief Market Technician Sid Mokhtari in a research report published on Sunday.
The report highlights 52 TSX-listed companies that could make good tax-loss sale and repurchase candidates for investors to consider before Dec. 29, which is the last transaction day of 2021 to record capital gains or losses. For those interested specifically in larger companies, CIBC recommends checking out Barrick Gold Corp. (ABX), Wheaton Precious Metals Corp. (WPM), cheese maker Saputo Inc. (SAP) and cannabis grower Canopy Growth Corp. (WEED).
More than half of the companies on CIBC’s list are miners (30 of 52) and gold miners in particular comprise the majority of them. CIBC also recommends other cannabis companies such as Tilray Inc. (TLRY), Village Farms International Inc. (VFF), Aurora Cannabis Inc. (ACB) and Cronos Group Inc. (CRON). The TSX’s health care subgroup, which is largely made up of pot producers, is the lagging performer this year, with a negative return of 23 per cent as of mid-day on Monday.
Several renewable energy companies, such as TransAlta Renewables Inc. (RNW), Ballard Power Systems Inc. (BLDP) and Brookfield Renewable Energy Partners LP (BEP-U) also made the list. |
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| From: LoneClone | 12/21/2021 12:06:41 PM | | | | | | FWIW, Scotia's have always been the most positive of the analysts regarding Sandstorm Gold Royalties aka SSL, and this continues with their latest report, which rates SSL as Buy with a target of $US12..
In the last few days I have seen 4 analysts reports with ratings ranging from Underperform to Buy, and targets ranging from $C9 to the equivalent of $C15.50. As a shareholder I am rooting for the latter but expect the reality to be somewhere in the middle, as I wait for SSL to announce the sale of their portion of the Hot Maden JV and resulting set of re-calibrations.
LC |
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| To: LoneClone who wrote (77741) | 12/21/2021 1:26:08 PM | | From: kidl | | | | | I am not surprised about the range of ratings. Analyzing SSL is complicated / takes a lot of analyst time. Maybe too much time for some of them? |
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| From: LoneClone | 12/22/2021 4:26:40 PM | | | | | | We got an intriguing PR from Rio2 aka RIO this morning. They have managed to sell one of their non-core properties in Chile to a local company for $5M. When I starting reading the PR I figured that the deal would provide another $5M insurance as they build their Fenix gold mine, but then comes an interesting quote from their Chief Strategist - "“the sale of this non-core asset adds an additional US$5,000,000 of available funding to support Rio2’s strategic business initiatives other than the construction of the Fenix Gold Project which has its project financing arranged to production.”
I shouldn't have been surprised. Even as they efficiently press forward on their main task, in this case building Fenix, it is characteristic of this management team to have more irons in the fire.
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| From: LoneClone | 1/4/2022 5:07:56 PM | | | | | | It's still early but Bam Bam Resources may have already clinched the Headline of the Year award for their latest PR.
Bam Bam Adds Professional Geologist to the Board of Directors
I guess they were relying on amateurs until now. Perhaps they should have inserted the word 'Actual' in front of 'Professional'.
For those unfamiliar with the company, their primary specialty is putting out way too many breathless PRs, sometimes 3 a week.
LC |
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