Gold and Silver miners (Jr and Exploration) Mining investing principles:
This board is to identify and track the best gold and silver junior mining and exploration companies. We perfer companies with the potential to have multimillion oz Au resources after further drilling. We believe that 2016 was the start of a multiyear bull market in gold. We believe that gold mining companies will give the greatest leverage on a rise in gold prices. We believe in both swing trading and longer term holding for the duration of a bull market cycle.
We will specifically target micro (Mkt cap <300 million) and nano cap (Mkt cap <50 million) stocks, as we believe they will have the largest ability for multibagger runs in the upcoming precious metals bull market. The most prefered companies have some known high grade resources or huge bulk ton resources. Add this to ore bodies that are open for exploration and adding to known resources via drilling. We perfer to buy companies that operate in stable countries and geopolitical areas. An experienced, well connected, and honest management team who's best intrestests are also aligned witht the shareholders is a definate must.
NO OTC/Pink only stocks are allowed here. Posts on OTC/Pink only stocks can and will be deleted. We require more transparency and a larger margin of safety that most OTC/Pink only stocks offer. When investing we are looking for calculated risk but not gambling. (Dual OTC listings are ok as long as stock is also dual listed on NYSE, AMEX, TSX, TSX.V or other similar regulated exchange.) We will try to have both Canadian dollar priced charts with American dollar priced charts if both listed by stockcharts.
Remember we are amateur investors. We expect this sector of stocks to be extremely volatile. Invest at your own risk. Understand the company that you are buying along with its individual risks. We are looking for like minded individuals who can add to the discussion here. Please discuss below and present your argument for the best mining companies that meet the above criteria. Looking to build a basket of ~20 of the best companies that will be able to out perform GDXJ and SILJ.
NI 43-101 Reporting standards http://www.undervaluedequity.com/CIM-Definition-Standards-Canadian-Institute-of-Mining's-Most-Common-Terms-Explained.html http://www.undervaluedequity.com/CIM-Definition-Standards-For-Mineral-Resources-and-Mineral-Reserves.html Pure speculation:
We often speak about option trading on this board. This is a very high risk and dangerous area to trade. Short term options should not be considered an investment but rather a speculative bet. If you are wrong on the direction of the market you may lose 100% of your capital. Caveat emptor! Macroeconomic news:
We understand that there are many things that drive the underlying price of gold. Economic fear, interest rates, dollar value, central bank actions and geopolitical events can significantly move the price of gold. We will discuss these events in the hope that it will help us to understand the price movements in gold and silver. VanEck Vectors Junior Gold Miners ETF // GDXJ on NYSEArca
The VanEck Vectors Junior Gold Miners ETF tracks a market-cap-weighted index of global gold and silver mining firms, focusing on small-caps.
The specific goal of this board will be to find stocks that will do better than GDXJ during the next bull market in gold.
Detailed holdings breakdown: https://www.vaneck.com/vaneck-vectors/equity-etfs/gdxj/holdings/
Large cap mining stocks ETF GDX is linked below for comparision. 3x leveraged NUGT (to GDX) and NUGJ (to GDXJ) also linked below. PureFunds ISE Junior Silver ETF // SILJ on NYSEArca
The PureFunds ISE Junior Silver ETF tracks a modified market-cap-weighted index of small-cap silver mining and exploration companies.
Detailed ETF holdings are in a downloadable Excel file here: http://pureetfs.com/purefunds-etfs/silj/
Large cap silver mining ETF SIL listed below for comparision. Global X Gold Explorers ETF // GOEX on NYSEArca The Global X Gold Explorers ETF (GOEX) provides investors access to a broad range of companies involved in the exploration of gold deposits.
Detailed holdings downloadable in Excel file at this link: http://www.globalxfunds.com/funds/goex/
Dalradian Resources // DNA.TO on TSX // DRLDF on OTC // DALR on AIM //
Property located in Northern Ireland
NI 43-101 (June 2016): 2.07 mil oz Au Indicated @ 11.5 g/t 2.31 mil oz Au Inferred @ 10.06 g/t
Has claims on 12 km trend line, only explored 4 km so far. 130K m drilling done so far
Feasibility study coming soon. Good management team.
(July 2016) 31 mil cash on hand
(July 2016) Jim Rutherford appointed as chairman . Investment Banker, sits on Anglo American board (20 bil market cap)
Potential negative: Needs 1-2 year to get permit for mining.
Alexandria Minerals // ALXDF // OTC, also AZX // TSX, also listed on Frankfurt
In Quebec, also owns multiple projects in Canada
1.4 million oz Au Measured/Indicated, 939,200 oz Au Inferred. 5 gold mills within 15 km. $16 per oz drilling costs to add to NI reports
Agnico Eagle (NYSE) owns 8%, Mgmt owns 8%, Sandstorm owns 7.5%, Gabelli owns 3%, IAMGOLD and Teck also own 2% each. Accredited investors own 25%, …over half the float locked up in strong hands
(July 2016): 1.2 mil cash in hand. Outstanding shares 183 million, fully diluted 199 million shares. Low market cap
(Sept 2016) Gary O'Connor added to board of directors, He is currently VP of exploration at Dundee Resources Limited)
New Legacy Gold // NULGF // OTC, also NUG // TSX Iceberg project in Nevada 60 sq km, 3000 m strike length open in multiple directions, Large low grade deposits Tocqueville Gold fund bought 19.5 million shares, OceanaGold bought 47 mil shares Management worked with Barrick Gold’s discovery team No NI reports out yet. Carlin type ore (sedimentary ore with micron sized gold particles throughout, easier to extract even at very low g/t concentrations, median tonnage of 118 sedimentary deposits in world is 5.7 million metric tons (Mt) @ 2.9 g/t.) https://pubs.usgs.gov/of/2014/1074/pdf/ofr2014-1074.pdf
Iceberg project is hoping to deliniate 90-110 Mt @ avg 0.9 - 1.1 g/t, several drill holes have higher grades,Have 38 sq mile property to explore. Much more work needs to be done. (July 2016) 14 mil cash, 271 mil shares outstanding, 322 mil fully diluted, Only 28% of shares in public float (Aug 2016) 10,000 meter summer drilling program initiated (to "fill in and step out" the Iceberg, + several "wildcat" holes http://nulegacygold.com/s/Home.asp http://nulegacygold.com/i/pdf/ppt/2016-07-21/NUG_presentation.pdf Toma Gold // TOGOF // OTC, also LOT // TSX-V Owns 7 properties in Quebec IAMGOLD partnership will be paying for some of their drilling and exploration (3x properties have a 50/50 JV with IAMGOLD) Monster Lake property most promising and most work done. 42,000 meters of drilling already done. Good concentration numbers of g/t (up to 237 g/t over 5.7 meters)
106 mil shares outstanding, 121 mil fully diluted.
Tiny market cap! http://www.tomagoldcorp.com/en/ Pure Gold Mining // PGM // TSX, also LRTNF // OTC 100% owned Madsen gold project in Canada. Huge: 45 km2, Madsen deposit open in all directions, many different targets on the property. NI 43-101: 928,000 oz Au Indicated @ 8.93 g/t, 297,000 oz Au Inferred @ 11.74 g/t Already has permitted mill and tailings management facility (200 mil of infrastructure) Good mgmt., they own 4.1%, AngloGold Ashanti owns 10.7%, Evanachan Ltd. owns 8.5%, Institutional shareholders 15% Currently drilling with 3 rigs, 51,000 m total drilling. Permitted mill and tailings management facility already built (estimated cost of facility: $200 mil)
140 mil shares outstanding, fully diluted 181 mil
K92 Mining Inc. // KNTNF // US OTC, also KNT // TSX
(July 2016) $12.5 million new financing
(August 2016) Should restart mining in weeks to months.
Canadian company but mine is in Papua New Guinea.
Barrick Gold bought this mine in 2007 for $141 million and invested additional $100 million in project. $41 million invested in exploration drilling and definition drilling. 78K meters drilled via 767 holes. K92 mining bought it at low point in bear market for $2 million. Will pay Barrick 60 mil once they are producing. They also will have to pay 7.25% in preexisting carried intrestest and taxes.
Existing mine, mill, staff housing and all infrastructure in place. Cheap hydro electric power
Fully NI43-101 compliant
High grade: 1.84 million oz @ 11.6 g/t AuEQ inferred, 240,000 oz @ 11.3 g/t AuEQ indicated. This does not include >1.3 mil oz Au that is not NI compliant and now well deliniated. Also has a huge ore body that is open to depth, and not well explored.
AIM mining study 200,000 tpa @ 7.5-8 g/t; ~94% recovery rate. Poteintially producing 45K oz Au/yr. Should be immedialy profitable to allow it to fund further drilling and exploration work.
4 Exploration leases, 1 mining lease, 2 mining easements, 1 lease for mining purposes: 405 km2 total land in PNG.
Alex Davidson of Barrick on staff
Only 75 million total shares outstanding with very low float; 134 mil fully diluted
Ihub board: http://investorshub.advfn.com/K92-Mining-Inc-KNTNF-31072/ http://www.k92mining.com/investor/presentation/
First Mining Finance // FFMGF // OTC, also FF // TSX
Excellent management (Keith Neumeyer - CEO First Majestic Silver Corp, owns 10 million shares himself)
Many properties in Canada, US, and Mexico
Is a “mineral bank” with15 million ounces of gold in ground plus other minerals. Company has been buying up properties during the bear market, now wants to partner for people to explore and develop them. Buying gold properties that will be profitable at $1200 gold, huge upside with big rise in gold prices. Focused on buying high grade ore properties.
535 mil shares outstanding, 615 mil shares fully diluted.
https://www.firstminingfinance.com/ https://www.firstminingfinance.com/investor-center/presentations Quick summary: https://www.youtube.com/watch?v=Z5jXsEqzkVc CEO interview (Sept 2016) https://www.youtube.com/watch?v=RNlyv9t2Esc
Ihub board http://investorshub.advfn.com/First-Mining-Finance-Corp-FFMGF-30023/ ;
Mawson Resources // MWSNF // also MAW.TO // TSX // also on Frankfurt
100% owned Rompas/Rajapalot project in Finland’s Arctic area. Near surface, 65 km of claims
90 mil outstanding shares, 111 mil fully diluted
Owners: The Sentient Group 35%, Areva 5%, other institutional holders 21%, Insiders 6.2%
4.1 mil cash in hand. No NI report but currently drilling, should be on by late 2016/early 2017. Has some really high grade gold drilling intercepts and rock grabs so far
Low market cap, Good upside potential, little more risky because not fully defined yet. Should make a big move when NI report hits.
Ihub board: http://investorshub.advfn.com/Mawson-Res-Ltd-MWSNF-19364/ ; http://mawsonresources.com/
Integra Gold Corp // ICGQF // OTC, also ICG.V // TSX
Canadian Co located in Quebec
(Aug 2016 stats) Current projects 60,000 m in assays pending, 4 drill rigs turning, PEA and Resource Estimate comming H2 2016, 120,000 m total drilling planned for 2016.
Sigma Mill already built (by company that went bankrupt years ago.)
Sigma deposit resources: M&I 586,000 oz Au @ 4.96 g/t, Inferred 1.85 mil oz Au @ 6.3 g/t
Parallel Deposit: Indicated 462,000 oz Au @ 9.6 g/t, Inferred 73,000 oz Au @ 15 g/t
Triagle deposit: 503,000 oz Au @ 9.4 g/t, Inferred 676,000 oz Au @ 8.8 g/t
No. 4 Plug deposit: 11,000 m drilled, overhaul of historical model in 2016, waiting for resource estimate in Q3/Q4 2016.
Lamaque Deep: Operated by Teck since 1933, sold to Placer Dome in 1985. Mining stopped at depth of 1,100 m due to labor disputes and infrastructure limitations. Drilled in 1997 showing >400 more meters of mineralization below 1,100 m mark (still open to depth, deeper drilling starting July 2016)
Signifcant cash on hand currently for further drilling/mine construction.
475 mil shares outstanding, 500 mil fully diluted
Undergound blasting and ramp contruction started.
Shareholders include: Eldorado Gold Corp, Van Eck, Sprott Asset Mgmt, 1832 Asset Mgmt, Mackenzie Financial Corp, U.S. Gobal Investors, Oppenheimer Funds
http://www.integragold.com/s/Home.asp http://www.integragold.com/s/presentation.asp Ihub: http://investorshub.advfn.com/Integra-Gold-Corp-ICGQF-28952/
Gold Quest Mining Corp. // GDQMF // OTC, also GQC.V // TSX, also listed in Frankfurt
Owns Romero Gold and Copper mine in the Dominican Republic, discovered multimillion oz gold deposit in 2012. Located in the Tireo Formation, over 50 km in length and underexplored. Have Au, Ag, Cu, and Zn in deposit.
Total indicated resources 1.65 mil oz Au @ 2.6 g/t , (2.38 mil oz AuEq), Inferred 0.53 mil oz Au @ 1.64 g/t, (0.79 mil oz AuEq.
Dominican Republic - No gov royalties, 32% taxes.
Good mgmt team. Helped take Aurelian Resources from $0.15 to $40 over a two year period with a very good property.
10,000 m drill program began in Aug 2016
Pre-feasibility due in Sept 2016, Permitting in progress.
2015 PEA @ 34% IRR and $572/oz AISC (All in sustaining costs) - very low! 9 mil cash on hand.
210 mil shares outstanding, 243 mil fully diluted http://www.goldquestcorp.com/
ATAC Resources LTD. // ATADF // OTC, also ATC.V // TSX
Canadian exploration company located in the Yukon wilderness. 100% owned Rackla Gold project is a 1,700 sq/km area that has 2 trends: Rau and Nadaleen. In 2010 ATAC discovered Canada’s first Carlin-type gold ore. (This is a sedimentary gold ore that makes gold extraction at much lower g/t ore possible.) There are multiple areas in this project
1. Osiris Cluster (12km2 area that contains the Conrad, Osiris, Ibis and Sunrise zones.)
All 4 zones have drill confirmed Carlin-type mineralization. 74k meters of drilling done over 231 holes in this cluster. Mineralization has been traced over a 1.2 km length (through an entire mountain.)
a. Conrad area is the most advanced project with 42k m drilled so far. Intercept as high as 20.5 g/t Au (most of the intercepts are in the 3-6 g/t range, with a few big numbers mixed in.) Upper Zone strike length of 800 m is still open along the strike. Middle Zone strike length is 300m and open along strike and at depth. Newly discovered Lower Zone is largely unknown.
b. Osiris Zone has 14km over 59 holes. 750 m strike length, that is open along strike and at depth. Some listed results look like they are in the 1-5 g/t range with a few bigger numbers up to 11.1 g/t.
c. Sunrise Zone has 4.2 m over 19 holes drilled. 215 m strike length open at depth. Results look to be in the 3-10 g/t range. 6 holes with no results.
d. Ibis Zone has 6.5k m over 26 holes. 200m strike open at depth and along strike. 1-6 g/t for most intercepts with some in the lower teens.
2. Anubis Cluster also in the Nadaleen area 18 sq/km area. Also Carlin type ore. Spotty drill results ranging from 1-5 g/t with a high of 19.8 g/t. Not well explored well.
3. Rau Trend defined to a length of 20 km. Located 48 km from a highway and the Keno Hill Mining District – second largest silver producer in Canada. Mixed types of ore. Tiger deposit is the most well explored with a 0.7 – 5 g/t range, a single high of 24 g/t. Tiger zone: Indicated 508,000 oz Au @ 2.2 g/t, 846,000 oz Ag @3.7 g/t; Inferred 290,000 oz Au @ 1.09 g/t with 250,000 oz Ag at 0.94 g/t.
They also have 5 other properties that they are looking to option out for further work.
123 mil shares outstanding, 132 mil shares fully diluted. 19 mil cash! http://www.atacresources.com/
Eastmain Resources // EANRF // OTC, also ER.TO // TSX
Canadian company with 3 projects in James Bay Quebec region. 8 other significant land packages. Very good region for mining, already has significant infrastructure built in this area.
Eau Claire (Clearwater project): M&I: 951,000 oz Au @ 4.09 g/t Inferred: 633,000 oz Au @ 3.88 g/t 99,000m drilled 2011-2013, started drilling here in late 2015 (13K m) and 63K m planned for 2016 ($8.8 mil budget). Has open pit potential.
Eastmain Mine: $40 mil invested by previous owners on exploration and development. 40K oz Au minined in 1995 @ 10.5g/t, have resources of 255,000 oz Au @ 10 g/t. 2016 exploration program of $1.5 mil.
Eleonore South JV property (Eastmain 36.7%, Goldcorp 36.7%, Azimut 26.6%) High grade grab samples (11.6-142 g/t Au). Near Goldcorp's Elenore mine (8 mil oz Au) 2,500 m drilling planned for end of 2016 and 2,500 m in early 2017.
Good experienced mgmt.
Top major shareholders: Polygon 9.7%, Goldcorp 6%, RBC Asset Mgmt 2.3%, 10 others with 0-2%. Insiders own 3%, Retail is 51%
175 mil shares outstanding, 191 mil fully diluted 18.1 mil cash on hand. http://www.eastmain.com/
Timberline Resources // TLRS // OTC, also TBR.V // TSX
US based (Idaho), Candain listed company with multiple properties in Nevada.
M&I 1.5 mil oz Au, 13.6 mil oz Ag, Inferred: 375,000 oz Au, 2.2 mil oz Ag
Majority of gold reserves on Talampas property (14,870 acres), a low risk partially permitted open pit heap leach project (M&I 1,012,000 oz Au @ 1.11 g/t). Another zone on property is 7km long and untested. PEA (4/15): gold at $1150/oz has 38.8% IRR, this goes up to 52.6% at $1300 gold. 55,000 oz/yr avg gold production for 10.8 years. AISC $599/oz Au.
They also have several other promising properties; one with some NI 43-101 compliant resources and further exploration potential and one that is not well explored yet (historically had high grade ore).
Ownership: Gunpoint Exploration Ltd. 8%, Mgmt and directors 9% (fully diluted 15%) Timberline acquired 100% of Talampas property from Gunpoint for 3.5 mil shares. Also owe $12.5 mil if gold price under $1600, if over $1600 for 3 months, they will pay another $10 mil (can be paid 50% in shares at Timberlines discretion). Upon completion Gunpoint retains a 1% NSR.
Shares outstanding 24 mil, fully diluted 36 mil. Thinly traded stock, market cap mid Dec 2016 still under $10 mil.
Ihub board: http://investorshub.advfn.com/Timberline-Resources-Corp-TLRS-7291/ http://timberlineresources.co/corporate-presentation/
Hecla Mining Co. // HL // NYSE
Large cap silver producer. Has 4 producing mines in North America (Canada, US, and Mexico). Largest silver producer in US, 3rd largest lead and zinc producer in US. Also have many exploration and pre-development projects.
175 million oz Ag silver reserves, has some of the lowest Ag and Au reserve prices. Also 2 mil oz Au reserves. Measured and Indicated resources: 161 mil oz Ag, 4.6 mil oz Au.
Ihub board: http://investorshub.advfn.com/Hecla-Mining-Co-HL-6097/ ; http://www.hecla-mining.com/
First Majestic Silver Corp // AG // NYSE, also FR.TO // TSX
Large cap silver mining co. Canadian based, mines in Mexico. 6 producing mines (100% owned) + 2 advanced stage silver projects.
Good management, CEO (Keith Neumeyer) owns 3.3 million shares.
Total reserves: 100 mil oz Ag (135 mil oz AgEq), Measured and Indicated 115 mil oz Ag (156 mil oz AgEq), Inferred: 184 mil oz Ag (271 oz AgEq)
164 mil shares outstanding, 174 mil shares fully diluted.
Ihub board: http://investorshub.advfn.com/First-Majestic-Silver-Corp-AG-16471/ ; http://www.firstmajestic.com/en
Southern Silver Exploration // SSVFF // OTC, also SSV.V // TSX, also listed in Frankfurt
Canadian based silver mining/exploration company, main project Cerro Las Minitas Project (70km northeast of Durango, Mexico, size: 13,700 ha)
Mineral resoure estimates: Indicated 36.5 million oz AgEq (10.8 Moz Ag, 189 Mlbs Pb, and 207 Mlbs Zn) Inferred 77.3 Moz AgEq (17.5 Moz Ag, 237 Mlbs Pb and 626 Mlbs Zn)
Exploration target of 20 Mt 80-120 g/t Ag and 4-8% Pb/Zn (up to 200 Moz AgEq)
Experienced management team (Chairman also Chairman of Nova Gold), partnered with Electrum Global Holdings a private natural resource investment company (will fund up to 5 million over next 48 months, can earn up to 60% intrest on the Cerro Las Minitas property)
35,000 m drilling since 2011
2016 drill program of $850,000 (3236 m in stepouts and expansion (project still open) + 1500m "wildcat holes")
Also have 100% owned Oro Property in New Mexico; surface Au/Ag/Cu/Pb/Zn mineralization, Begin drilling in Fall 2016 ($300,000)
79.5 mil shares outstanding, fully diluted 141 mil (7 mil options, 54.5 mil warrants) Smaller sized market cap
Ownership: Mgmt 10%, Electrum Global Holdings 46%
Ihub board: http://investorshub.advfn.com/Southern-Silver-Exploration-Corp-SSVFF-17958/
Silver Spruce Resources // SSEBF // also SSE .V // TSX
Canadian mineral exploration company with focus on silver property in Mexico. Also have uranium and REE's on property in Canada.
New CEO in March 2015 and move to improve balance sheet and focus on silver property.
Pino de Plata Project in Chihuahua Mexico. Property mined since Spanish Colonial era (1600's) up into the current time but only via sporadic artisanal mining. Is geographically located between 3 mines that are owned by Coeur Mining (CDE). Property has never been systematically explored or drilled. $1.4 mil exploration/drilling project underway.
Shares outstanding 21 mil, Fully diluted 26 mil. 10 million dollar tax loss carry forward. No debt, ~$1.2 mil cash. Market cap in middle of Oct 2016 is under $3 million!
http://www.silverspruceresources.com/i/pdf/SSE-Presentation-Sep2015.pdf Ihub: http://investorshub.advfn.com/Silver-Spruce-Resources-SSEV-31348/
GoldMoney // XAUMF // OTC, also // XAU.TO // TSX
Direxion Daily Gold Miners Bear 3x Shares DUST // NYSEArca
The Direxion Daily Gold Miners Bear ETF provides 3x inverse exposure to a market-cap-weighted index of global gold and silver mining firms.
DUST is an extremely aggressive inverse play on perhaps the most widely followed gold mining index—the NYSE Arca Gold Miners Index—and the widely held ETF that tracks it: GDX. The index tracks 30 firms engaged in the precious metals mining industry globally, with a strong bias to large gold and silver mining firms. DUST promises to provide inverse exposure to these firms with a leverage factor of 3 on a daily basis. The last point is important, because investors trying to make a long-term bet against gold mining shares can only use DUST to do so
if they are willing to adjust their position in the fund on a daily basis. You cannot hold this long term as the daily leverage requirements will slowly destroy all of your capital. Short term trading only!
http://www.etf.com/DUST MUST READ http://investorplace.com/2013/10/direxion-daily-gold-miners-bear-3x-shares-dust/#.V9QMaPorI2w
CAMECO CORP // CCJ // NYSE, also // CCO.TO // TSX
Produce 18% of worldwide uranium production. 410 million lbs of proven and probable reserves as well as extensive mineral resources. Also hold many undeveloped uranium projects in the world. Also a major supplier of uranium processing services require to produce fuel. Mines in Canada, US, and Kazakhstan.
World’s largest uranium mine (underground) is McArthur River, 234 mil lbs proven and probable resources @ 10.94% U3O8. Produce 12.6 mil lbs in 2016. Cameco holds 69.8% share of McArthur.
Cigar lake 110 mil lbs p/p @ 16.7% (50% owner of this mine, producing 8 mil lbs in 2016)