Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
SNAG, CEE, EDV x 2, KRR
Silver North Resources aka SNAG announced the plans for 2024 exploration on its Tim Ag/Pb/Zn prospect in Yukpn. The deposit is located on the road to Coeur's Silvertip mine 19 km away, and is prospective for similar CRD style deosoits. Coeur can earn up to an 80% ownership by fulfilling a number of requirements, and is starting that process by arranging for a 2000m drill campaign plus mapping and sampling beginning in June. The crews will even be operating out of the Silvertip Mine camp.
If exploration goes well at Tim, I expect Coeur will eventual buy it, possibly even all of SNAG.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34618067
They manged to beat guidance for the
African gold miner Centamin aka CEE has published its annual report. I won't say much more because it covers what followers of the company already know, but it is comprehensive refresher even for those folks.
https://www.centamin.com/investors/results-reports/
We already knew west African gold miner Endeavour Mining aka EDV had a great year and Q4 in terms of production; now we learn the financial details with the release of their annual results. EDV managed to beat guidance for the 11th year in a row, and continues to be the cheaper producer among their peers, with the cash cost for Q4 dropping to $837/oz Au. As this was a year of building mines for EDV, their full year cash costs did increase to $837/oz -- still the lowest among their peers -- but I expect it to drop again as the new mines come on stream through the year.
Iin spite of returning $266M to shareholders in the form of dividends and share buybacks, EDV also generated a lusty robust profit, albeit again less than last year. Their cash stash dropped to $517M at year end as a result of those mine builds, but I expect it to increase in 2024.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34618136
EDV also announced the results of an investigation in the actions of former CEO and President Sebastien de Montessus, who was fired on Jan. 4. Apparently de Montessus managed to divert $20.9 in payments, covered it up as long as possible, and is still being evasive. Where the money ended up is unknown, but EDV did manage to recover over $29M from him.
Fortunately his actions have not affected the existing financial reports EDV has released, and they are taking a number to steps to strengthen their governance.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34618172
Australian gold/nickel miner Karora Resources aka KRR and potential partner Ramelius Resources have both announced discussions on a potential merger have ended. I heartily approve of this development, and so does the market. In response RMS shares hit their highest level since 2001 while KRR shares are back over $5 for the first time in months.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34619198
ARK, ODV
Arras Minerals aka ARK released an update from exploration on its Elemes prospect in Kazakhstan (which is not subject to the alliance with Teck). Using soil sampling, geophysics, and reanalysis of historical drill holes, they had already established a very promising 8.8 km prospect called Berezski . Now we hear about an even better prospect called Aimandai which was previously unknown.
Aimandai has been established over 14 km and remains open at both ends, and like Berezski, contains minerlization that extends from surface, as also looks to be an expression of a large porphyry. Expect further exploration, including the first modern drilling on both targets later this year.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34615899
FWIW, BMO has a new mining analyst, and he surprised me by coming out with a report on Osisko Development aka ODV in the wake of last week's updated Resource Report for their Trixie gold mine on the Tintic property in Utah. The author confirms that the decrease in the Resource was the primary cause of the non-cash write down we have been cautioned to expect.
After talking to management, BMO expects Trixie to be developed using contract mining and a heap leach, the easiest and quickest route to cash flow. As they already have the necessary permits, BMO is modeing first production at Trixie next year.
But the analyst also reiterates that ODV's primary focus remains the development of the Cariboo gold mine in BC, for which permits are expected mid-year. Pre-construction activities are already underway in the wake of the recent awarding of a $50M credit facility for the construction.
EDV, KRR, CEE x 3
West African gold miner Endeavour Resources aka EDR announced they have renewed their Normal Course Issuer Bid for another year. Subject to the usual conditions, they can repurchase and cancel up to 5% of their outstanding shares, which amounts to 12,259,943 shares that could disappear. Note that under last year's NCIP they were entitled to buy and cancel about the same number of shares, but ended up cancelling 3,143,564 shares at an average cost of $28.73.
https://ca.finance.yahoo.com/news/endeavour-announces-renewal-normal-course-070000109.html
We already knew that Australian gold/nickel miner Karora Resources aka KRR had a bang up Q4 and full year 2023 production-wise; now we get to hear about the money We learn that costs were higher than expected in Q4, primarily due to a now-remedied but expensive equipment failure at the Higginsville mill, as well as holding back nickel sales, which are counted as a byproduct credit to the gold production, till nickel prices recover. As well, earnings were down in 2023 compared to 2022, again due primarily to one time non-cash charges. As a result their cash stash stayed about the same in Q4 as they ended the year with $82.5M on hand, a 20% increase from year end 2022.
This was a big year for expenditures for KRR as they continued to develop new minerlaization and upgrade mills while integrating their purchased assets, so, assuming the PoG cooperates, I expect KRR to generate abundant cash flow and profits this year.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34613132
African gold miner Centamin aka CEE reported their 2024 annual results. We already knew that it was a good year for CEE, as production at Sukari matched guidance with costs below guidance. However, now we learn that earnings were less than expected, but also that this was due to one-time costs, primarily depreciation on exiting assets.
Reflecting the company's strong financial position, their cash stash has grown to $153M and no debt. The company also reiterated 2024 guidance of 470-500k oz Au production at a cash cost of $700-850/oz.
In 2024 we can expect the release of an FBS for the Doropo project in Cote d'Ivoire midyear, around the same time as an exploration update on their recently acquired EDX exploration prospects in Egypt, and connection of Sukari to grid power by the end of the year along with the release of a study into expansion of their solar power plant.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34612075
CEE also put out two related PRs that contain interesting information.
The first details all payments made to governments last year. The bulk of the $141M was profit sharing and taxes paid to the Egyptian government in relation to CEE's producing Sukari gold mine.
https://ca.finance.yahoo.com/news/centamin-plc-announces-payments-government-070000009.html
The second details how CEE arrived at its 2023 dividend payments, which amount to 55% of available cash flow.
https://ca.finance.yahoo.com/news/centamin-plc-announces-2023-final-070000104.html
ODV x 2, KTN
We get two pieces of news involving Osisko Development aka ODV today, and neither was good.
The first comes from ODV itself, and concerns the release of an updated Resource Estimate for the Trixie mine on its Tintic property in Utah. M&I Resources are now 245kt @ 19.11 g/tAu & 60.8 g/t Au containing 150k oz Au and 478k oz Ag,, while Inferred Resources are now 202kt @ 7.80 g/tAu and 48.55 g/t Ag containing 51k oz Au and 315k oz Ag.
Although small, this resource might look like good at first glance thanks to the high grades, until you learn that compared to the 2023 MRE, contained M&I gold ounces are now down 29%, while the corresponding Inferred number is a whopping 79% decrease. The reason? In spite of completing a good deal more drilling and sampling, a revised geological model removed much of what was formerly considered ore from the mineralized envelope. (Yes, part of the drop in Inferred was due to resource conversion, but even so M&I were still down substantially anyway.}
Also, late in the PR they casually mention that the deep hole that was designed to find the underlying large prophyry under Trixie instead hit a fault and after that, barren rock.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34605750
Disappointingly if not surprisingly, ODV has not bothered to PR the other piece of bad news; I heard about it on the local news. A provincial government report documented 417 separate violations on 68 different days in 2020 and 2021 involving the leaking of toxic material from its Bonanza Ledge gold mine near Barkerville, BC. . It also noted previous violations, including 215 incidents in 2017, and 463 between 2018 and 2019.
There was one glimmer of good news. The fine had been originally set at $750k, but was reduced because the pandemic made it very difficult to find contractors to deal with the situation. Still, it's not a good look, and underlines once again how poorly run this company is.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34605785
Kootenay Resources aka KTN has announced a new 5000m drill programme on their Colimba silver prospect in Chihuahua, Mexico. The 2023 drilling campaign established the D Vein as an important prospect, with the highlight drill results being 13.56m of 599 g/t Ag, 8.19Mmf 532 g/t Ag, and 10.26m of 501 g/t Ag. The D Vein now been defined over a strike length of 450m and depth of up to 250m. It is believed that the D vein has another 800m of strike length before it intersects the B vein.
If the drilling yields results, KTN intends to raise enough money for enough drilling to establish an initial Resource Report for Columba.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34604717
A short interview with KTN's CEO regarding Columba and La Cigarra can be found here
https://ca.finance.yahoo.com/news/kootenay-silver-makes-progress-columba-132401774.html
KRR, KTN, RRI, IAU
Australian gold/nickel producer Karora Resources aka KRR released a PR containing updated guidance for 2024. They produced just over 160k oz Au last year, and in 2024 expect to increase that to 170k-185k oz Au at an AISC of $1250-1375/oz Au. As well, they plan to produce 200-300t Ni, which is treated as a byproduct and therefore reduces the AISC for the gold. (Note that they have deferred some nickel production until the price recovers.)
To achieve this growth, KRR projects spending between $110M and $140M on exploration, mine development, and equipment and personnel additions. This expenditure will also allow KRR to reach the 2.0Mtpa production level at Beta Hunt they set as a goal three years ago.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34600960
Kootenay Resources, which is currently an unlisted company hived off by Kootenay Silver aka KTN, has announced that they have been approved for conditional listing on the TSXV, prior to which they will have to complete a $500k PP and satisfy certain other requirements. Not that if this is completed it will also make available other funds currently held in escrow.
Kootenay Resources was created to hold a number of KTN's BC prospects, including three wholly owned Ag/Au(/Cu) properties on the Nechako Plateau and three others that are currently optioned out to other companies which are paying for work programmes. The company aims to use its deep knowledge of this area of BC to generate and farm out new prospects in the future.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34603578
Speaking of prospect generators, one of the best in the biz is Riverside Resources aka RRI, and we get proof of that with their latest NR, which concerns Cecilia, a 100%-owned district scale gold and silver, low sulfidation epithermal system located 40 KM SW of the Mexico-U.S.A. border city of Agua Priet in Sonoro, Mexico. Cecilia covers over 60 sq km and hosts at least 10 promising exploration target, including at least two nested dome complexes, which can host enormous amounts of PMs.
It is a measure of the respect given RRI's geologists that even though Fortuna Silver aka FVI can earn a majority interest in Cecilia, RRI will remain as operator of the exploration programme. FVI has five years to earn 51% ownership by making cash payments and meeting work commitments, then can increase that to 80% over the next three years by meeting similar requirements. After that there will be a 120 day period during which FVI can earn 100% by paying RRI $5M and granting them a 2% NSR.
RRI will also be compensated for all fees and paid to operate exploration. It is expected that this programme will begin shortly.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34603601
Nevada gold miner i-80 Gold aka IAU reported its Q4 and full year results. IAU is still primarily a developer rather than a producer, with 3 new mines underway, but still managed to sell 3350 oz Au from Granite Creek and residual leaching, and for the first time they sold substantial amounts of ore from Granite Creek, i.e. 61,223t mineralized material sold (29,512t sulfide mineralized material) for total revenues of $19.0M.
As a result they ended 2023 with a cash stash of $59.8M ($44.5M of it restricted). If you follow IAU, you will known that earlier in 2024 they completed a PP at a price of $1.80/share for $23.4M, which at the time cratered the share price down to the $1.80 area. I bought several tranches of shares around that price, which so far has worked out well, with the share price hitting $2.20 today. My current plan is to sell at least some of those $1.80 shares when the shares hit $3, but plans can change....
https://www.siliconinvestor.com/readmsg.aspx?msgid=34603683
Both Saville and IKN has been telling us about how big money remains uninterested in gold. As a further sign, notice how last week's breakout in the PoG to a new ATH was barely noticed in mainstream financial coverage. Now Saville adds to this by going through the latest COTs report to show how 'dumb money' also remains skeptical of/disinterested in gold. As well, he points out how gold stocks have not reacted much to the move in the PoG so far, but are starting to show signs of strength.
And IKN this weekend makes a long and detailed set of arguments that what happened last week was that the ETFs are no longer able to supply the constant demand for gold from jewelry fabricators as they have done since the pandemic hit, creating a new demand.
And later Saville pointed out that $GOLD now has an RSI over 80 on the daily chart, which generally happens near a multi-week top during the early or middle stages of an intermediate-term rally.
$EVKRF News: Grid Battery To Begin the 2024 Exploration Program on Its Clayton Valley Lithium Project
March 13, 2024
Link to news with images:
https://marketwirenews.com/news-releases/grid-battery-to-begin-the-2024-exploration-program-o-8421939950779981.html
$STLNF Billion Dollar Uranium Market Growing at a Solid Rate Along With Rising Adoption Strategies
https://globenewswire.com/news-release/2024/03/06/2841508/0/en/Billion-Dollar-Uranium-Market-Growing-at-a-Solid-Rate-Along-With-Rising-Adoption-Strategies.html
URANIUM UPDATE After a good correction uranium equities are running again. Continue to own $DNN $MAGFF $FCUUF $FDCFF $PENMF $ANLDF. Bought some $UUUU yesterday.
KRR, OGC
Australina gold/nickel miner Karora Resources aka KRR has been the focus of speculation regarding M&A for some time now, and for the first time we have heard from the company. They have confirmed they are in talks with fellow Australian miner Ramelius Resources regarding the possibility of a business combination.
On the surface, the combination makes sense, as Ramelius owns two gold mining hubs located in Western Australia not far from KRR's operations. And Ramelius has been on an acquisition spree, buying three other mining companies in the last several years.
The shame for me would be if any combination involved RMS buying out KRR without a condition being RMS listing in Canada, because I would have sell my my KRR shares prior to the combination due to the prohibitive fees for trading securities listed on the ASX.
Hence, I am hoping this goes nowhere so I an participate in what I see as the coming upside for KRR.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34596511
Oceanagold aka OGC released the latest drill results from the EG Vein, part of the Wharekirauponga deposit on its Waihi property on New Zealand's south Island. Wharekirauponga already has a Indicated Resource of 1.0M oz Au at a grade of 15.9 g/t, and generating assays like 61.9 g/t Au over 4.0m, 31.0 g/t Au over 5.2m, and 58.5 g/t Au over 2.5m will serve to enhance that Resource next time it is updated. Infill and step-out drilling on the EG Vein will resume in a few months once permits are received.
And speaking of permits, it seems New Zealand is moving in the opposite direction from countries like Chile, Colombia, and Mexico where permitting mining operations has been getting harder. Instead OGC highlights the recent introduction by the NZ government of the Fast Track Approvals Bill, which is designed to fast-track the approval process for development projects, including mining. OGC believes that the North Waihi project, which includes Wharekirauponga, is a strong candidate for this process.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34596518
IAU, HMLO, NTH
Nevada gold miner i-80 Gold aka IAU continues to pull remarkable assays from its McCoy-Cove development project. How do assays like 22.6 g/t Au over 19.1m, 32.9 g/t Au over 14. m and 23.5 g/t Au over 12.8m grab you?
(Apologies if I occasionally misname the property as McCovey-Cove. Willie McCovey was one of my favourite baseball players, and the new version of Candlestick Park has named the bay outside the wall in which the big bombers try to land their homer McCovey Cove.)
These results come from the latest three holes drilled into the Helen zone, which is expected to be the first source of ore from the mine. Mineralization remains open in multiple directions, and drilling will continue at Helen and other targets on the property. These and the drilling results to come will feed into a revised Resource Report and PFBS expected before the end of the year.
The combined impact of this NR but probably more the increase in the price of gold appears to have broken IAU out of the trading range around the $1.80 price of the recent PP.. With the constant flow of news to come, I expect the share price recovery will continue, as long as the PoG cooperates. My personal target for IAU is between $4 and $5, assuming they don't get bought out first..
https://www.siliconinvestor.com/readmsg.aspx?msgid=34594077
In response to this NR, Scotia released a new analyst report which called the impact Positive but maintained IAU at Sector Outperform with a target of $4.
Hemlo Explorers aka HMLO released the initial drill results from its Plc gold prospect in Ontario. The exploration programme is being conducted by ABX, which can earn up to an 80% interest in the project by meeting a number of terms, including delivering a PFBS within six years. Notably, Barrick was required to spend $1M on exploration within a year of signing the JV agreement, but have already spent $4.6M 16 months in.
The drilling itself targeted 4 different areas on the property and encountered at least decent gold grades in each of them, plus other favourable geological indications. All these results were from holes drilled last fall, so it will be interesting to see if ABX can find enough during this year's exploration to maintain their interest.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34594087
Nord Precious Metals aka NTH (recently renamed from Canada Silver Cobalt Works aka CCW) has been poking around their Castle East property for silver and cobalt, sometimes successfully, but last year surface exploration revealed what they are now calling the Gowganda Gold Camp on top of the Castle East silver deposit. Now we hear the single hole completed into Gowganda so far has revealed a 9m wide gold zone, including a 0.58m interval grading over 3 g/t Au. The NTH geologists now think the Archean gold comes from a separate minerlaizating event than Castle East, and may extend to district sale.
We'll see if the pending assays back that up.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34595132
$EVKRF News: Grid Battery Metals Files NI 43-101 Technical Report on its Clayton Valley Lithium Project in Nevada
Link: https://finance.yahoo.com/news/grid-battery-metals-files-ni-123000689.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr
$EVKRF Update: IEA to Launch Security Program for Minerals Critical to Energy Sector “The International Energy Agency is launching a program to secure the supply of minerals critical to energy security, as demand rises fast while manufacturing remains in the hands of a few key producers, its executive director said on Tuesday.”
IEA to Launch Security Program for Minerals Critical to Energy Sector
— Grid Battery Metals Inc (@GRIDBattery) March 5, 2024
“The International Energy Agency is launching a program to secure the supply of minerals critical to energy security, as demand rises fast while manufacturing remains in the hands of a few key producers, its…
SNAG, KDK, ODV, WM, MAI
After a period where they expanded to other metals and jurisdictions, last year this company changed their name from Alianza Minign to Silver North Resources aka SNAG and changed their focus back to their silver prospects in Yukon Territory. Now we get a first look at what this re-focus really means with a NR detailing their plans for 2024.
The review starts off by telling us they are actively trying to sell most of the properties they accumulated, or are just letting the leases lapse. Apparently they are still looking for partners to advance of few of the gold and copper prospects in Colorado, but otherwise are focused on the Tim and Haldane silver prospects in Yukon.
Haldane is located in the Keno Hill district, which has been booming ever since Hecla bought the Keno Hill mining complex. Haldane is located 25 km from that mine and the properties share a boundary, so clearly SNAG hopes to eventually sell out to or work with Hecla on the property. In the meantime, they have designed a six hole drill programme to test several recent discoveries, and also expect to carry outgeophysics and trenching on other prospects on Haldane.
The Tim property is located further south in the Silvertip-Midway District, and is currently under option to Coeur, who run the Silvertip mine located less than 20 km south of Tim. Previous exploration has revealed the potential for the property to host Ag/Pb/Zn CRD deposits similar to those being mined at Silvertip. Exploration will resume in June; expect more details to be announced in the coming months.
I like the way SNAG has refocused, but only time will tell if it reaps benefits for shareholders.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34589873
Kodiak Copper aka KDK, which is exploring the MPD property in south central BC for large Cu/Au prophyries, released a NR about their adoption of AI technology to assist in exploration and drill targeting. According to KDK, so far the software has not only identified already known targets but new ones which will be followed up in due course. The use of this technology seems like a prudent move, given the sheer number of targets on MPD plus the huge volume of historical data that needs to be analyzed, but only time will tell if it is more than a passing trend.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34592647
Osisko Development aka ODV announced they have secured a $50M loan to drive a 1.2 km drift and extract a 10kt bulk sample at its Barkerville gold mine in BC. It feels like this saga has been going on since the first discovery of gold in Barkerville in 1858. Not so, but it has been almost five years since ODV acquired Barkerville Gold Mines aka BGM, which had spent over a decade and not one but two 10 for 1 share rollbacks trying to develop this mine before the acquisition by ODV.
What concerns me most about this loan is that it is supposed to be repaid in full within a year, including hefty interest, but they can't even start physical work on the drift until receiving permits, which are anticipated to arrive in Q2. This isn't Mexico or Chile, so the permits may well arrive on time, but that is still a very quick turnaround to build a drift that long plus extract and process the ore to get the money to repay the loan. The clock is ticking....
BTW, my existing notes from previous ODV NRs had the permits expected to arrive in Q1.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34592764
Quebec gold explorer/developer Wallbridge Mining aka WM announced the start of a drill programme at their Martiniere property, located near their flagship Fenelon property on the Fenelon-Detour Gold trend. The drilling will be conducted in two phases, in spring and fall, and is designed to expand and upgrade the current resource as well as to extract material and data for the combined Fenelon/Martiniere PEA, which is underway but not expected to be completed until early 2026.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34592784
Here's a link to a really informative 37 minute interview with Doug Ramshaw, CEO of Mexican gold miner/developer Minera Alamos aka MAI. Included are some good insights into the current politics of mining in Mexico.
$SRCGF News: Spruce Ridge Completes Oregon Nickel Assets Acquisition with RAB Capital
Toronto, Ontario –TheNewswire -March 1, 2024 – Spruce Ridge Resources Ltd.(“Spruce Ridge” or the “Company”) (TSXV:SHL),(OTC:SRCGF) is pleased to announce that further to its press release dated November 16, 2023, the Company has completed its acquisition (the “Transaction”) with RAB Capital Holdings Limited (“RAB Capital”) of all the issued and outstanding securities of RFN Holdings Limited (“RFN”), which is the holder of an 80% interest in Homeland Nickel Corporation (“Homeland Nickel”). Spruce Ridge now owns 80% of Homeland Nickel, which owns the Cleopatra and Red Flat nickel laterite deposits in southwest Oregon (the “Properties”), both of which host historical resources (further described in the Company’s news release of November 16, 2023), as well as an interest in some secondary nickel laterite deposits in the vicinity of the Properties (the “Deposits”). The Company’s website is being updated to include the Properties and a new slide presentation will be uploaded soon.
Commenting on the completion of the acquisition, President and CEO Steve Balch stated that, “With the acquisition now behind us, it's time to apply for permits so that we can start exploring. We believe there is substantial resource upside on both properties that we can realize by drilling deeper. Cleopatra contains an area of 949 acres with an average nickel grade of 1.12%. Cleopatra overall has only been explored to an average depth of 8-12 feet. Nickel grades appear to increase with depth, and laterite thickness could exceed 50 feet in some areas. The basement rocks have yet to be intersected on the property. Our proposed exploration program would focus first on Cleopatra with a series of up to 70 drillholes completed to a depth of 50 feet located with a drill spacing of 600 feet by 1200 feet and focused on the northeast one-third of the property”.
Pursuant to the terms of the Transaction, the Company acquired a 100% interest in RFN by:
making a $50,000 cash payment to RAB Capital, which was previously completed;
transferring to RAB Capital 2,000,000 common shares in the capital of Canada Nickel Company Inc. held by Spruce;
paying $450,000, which was settled against RAB Capital’s subscription for an aggregate $450,000 in the non-brokered financing closed on December 21, 2023 (further described in the Company’s news release of December 21, 2023);
issuing to RAB Capital an aggregate of 10,000,000 common shares in the capital of Spruce, such shares beingsubject to a four month and one day statutory hold period
granting to RAB Capital a 2.0% net smelter returns (NSR”) on the Properties and the Deposits, with an option to repurchase 50% of each NSR for $2,000,000;
reimbursing RAB Capital a total of US$37,957 for the cost of tenement renewals on the Properties paid for the year 2023/24 and a total of US$22,500 for the cost of preparation of audited financial statements;
assuming a pre-existing intercorporate loan between RAB Capital and HLN totaling approximately US$36.74 million, which is now owed to Spruce and the Company has the option to cancel it entirely or to use it in the future for tax purposes;
agreeing to pay funds to RAB Capital upon reaching certain milestones, as follows: $1,000,000 cash payment upon filing a technical report on one or both of the Propertieswhere a nickel resource is re-evaluated (or restated) to a standardin accordance with the requirements ofNational Instrument 43-101 – Standards of Disclosure for Mineral Properties(NI 43-101”); $2,000,000 cash payment upon completion of a NI 43-101 preliminary economic assessment on one or both of the Properties; $2,000,000 cash payment upon completion of a NI 43-101 feasibility study on one or both of the Properties; and $10,000,000 cash payment upon announcement of a decision to commence construction on one or both of the Properties.
In connection with the Transaction, the Company conducted a title review of the Properties and although there were certain limitations in the review resulting from a data breach in the Curry County Recorder’s Office in Oregon, the Company is satisfied with the results of the title review.
Qualified Person
Stephen J. Balch, P.Geo. (ON), the Company’s President and CEO and a “Qualified Person” under National Instrument 43-101, has reviewed and approved the technical content of this press release.
About Spruce Ridge
Spruce Ridge is a Canadian-based mineral exploration company focused on critical metal resources with nickel projects in Oregon, United States and copper projects in Newfoundland, Canada. The Company also holds a significant portfolio of mining securities including 3.6 million shares of Canada Nickel Company Inc. (TSX-V:CNC), 10.0 million shares of Noble Mineral Exploration Inc. (TSX-V:NOB), 15.0 million shares of Benton Resources Inc. (TSX-V:BEX) and 2.5 million shares of Magna Terra Minerals Inc. (TSX-V:MTT). Spruce’s common shares trade on the TSX Venture Exchange under the symbol “SHL”. More detailed information can be found on the Company’s website at:
http://www.spruceridgeresources.com
Cautionary Statement
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein. This news release contains statements that constitute “forward-looking statements”. Forward-looking statements are statements that are not historical facts and include, but are not limited to, disclosure regarding possible events, that are based on assumptions and courses of action, and in certain cases, can be identified by the words “expects”, “plans”, “anticipates”, “believes”, “intends”, “estimates”, “projects”, “potential” and similar expressions, or that events or conditions “will”, “would”, “may”, “could” or “should” occur, or the negative forms of any of these words and other similar expressions. Forward-looking statements include statements related to future plans for the Company, and other forward-looking information. Forward-looking statements are based on various assumptions including with respect to the anticipated actions of securities regulators, stock exchanges, and government entities, management plans and timelines, as well as results of operations, performance, business prospects and opportunities. Although the forward-looking statements contained in this news release are based upon what the management of the Company believes are reasonable assumptions on the date of this news release, such assumptions may prove to be incorrect. Forward-looking statements involve known and unknown risks and uncertainties, they should not be read as guarantees of future performance or results, and they will not necessarily be accurate indications of whether such results will be achieved. A number of factors could cause actual results, performance or achievements to differ materially from the results discussed in the forward-looking statements, including, but not limited to: an inability to develop and successfully implement exploration strategies; general business, economic, competitive, political and social uncertainties; the lack of available capital; impact of the evolving situation in Ukraine on the business of the Company; and other risks detailed from time-to-time in the Company’s ongoing filings with securities regulatory authorities, which filings can be found at www.sedarplus.ca. The Company cannot assure readers that actual results will be consistent with theseforward-looking statements. Readers are cautioned not to place undue reliance on forward-looking statements in this press release. These forward-looking statements are made as of the date of this news release and the Company disclaims any intent or obligation to update any forward-looking statement, whether because of new information, future events or otherwise, unless otherwise required by law.
Contact
Stephen Balch, President & CEO
Phone: 905.407.9586
Email: steve@beci.ca
ARK, rri, EDV, RPEEE
Kazakhstan explorer Arras Minerals aka ARK announced the acquisition of a new project called Tay. It covers 188 sq km and is located 28 km from the producing Bozshakol Cu/Au mine. It is a blind target, but ARK was able to obtain Soviet-era geophysics on a 6.5 km by 2.1 km target which looks almost identical to the geophysics done at Bozshakol at the same time. Note that this new property is not subject to the exploration alliance with Teck, and that the cover over the target is less than 40m deep. A highway, rail line, high voltage power, and mining towns are located nearby.
Exploration plans will be announced shortly.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34587524
Prospect developer Riverside Resources aka RRI continues to beaver away on its various properties in Mexico, BC, and Ontario. Their latest PR concerns exploration on their Pichette Au prospect in Ontario.
RRI thinks they might really be onto something in the PAT zone, where a sampling programme has uncovered gold values up to 21 g/t within a Banded Iron Formation which can traced over a distance of kilometres. Using geophysics, RRI has developed a complex model of the multiple mineralization events at PAT which could mean it is analogous to the nearby Grrenstone Mine, currently being built by Centerra Gold. I invite you to peruse the details at your leisure
There is no word on future exploration, but I expect further geophysics and sampling and then a drill programme. No doubt RRI is negotiating with potential partners.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34588757
FWIW. in the wake of the recent announcement by Endeavour Mining aka EDV of the wet commissioning of the BIOX expansion project at the Sabodala-Massaw gold mine in Senegal, Scotia issued a new analyst report. Citing particularly that BIOX opens up the processing of high grade refractory ore, they see the impact as Positive, but kept EDV at Sector Outperform with a target of $37.
No, RPEEE is not a stock symbol. Rather, it is the abbreviation for a new method of resource estimation that investors in mining stocks need to familiarize themselves with.
The link below is a decent introduction to the concept. At heart, it uses advanced software techniques to check whether mineralization is comprised of blocks of a shape and size that could be mined economically.
Here is a paragraph Tinka included in their latest PR which includes a Resource Estimate using RPEEE
"To satisfy RPEEE for an underground mining scenario, Tinka is reporting Mineral Resources within potentially mineable shapes (i.e., stopes) thereby demonstrating the spatial continuity of the mineralization. Where the potentially mineable volumes (i.e., stopes) contain smaller zones of mineralization with values below the stated cut-off, this lower grade material is included in the Mineral Resource estimate."
One hopes that the use of RPEE will lead to more economically reliable Resource and Reserve Estimates.
https://www.srk.com/en/publications/reasonable-prospects-for-eventual-economic-extraction-rpeee
$EVKRF News: Global Business Reports Magazine Profiles Grid Battery Metals in the Western USA Mining 2024 Issue
COQUITLAM, BC / ACCESSWIRE / February 29, 2024/ Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) announces that Global Business Reports, a respected industry news writer and editorial author, has profiled Grid Battery Metals Inc. in its latest issue of the Western USA Mining 2024, profiling active and successful mineral exploration companies in this region.
The interview and corporate profile can be found by accessing the following weblink, Global Business Reports, Western USA Mining 2024.
The article includes commentary by Grid's CEO Mr. Tim Fernback, a discussion of Grid's current lithium exploration programs in Nevada, its impressive corporate balance sheet and cash balance, and the company's overall focus for 2024.
About Global Business Reports
Headquartered in Singapore and with offices in Istanbul, Global Business Reports ("GBR") was established in 2001 in order to provide first-hand information for global business decision makers. In an age where cross boundary trade and investment are driving factors for businesses, information is crucial. Precise sectorial reports help companies understand and expand their markets, improve their sourcing chain, target their investments and discover the trends affecting their industry around the world.
GBR provides in-depth analyses and up-to-date insights into all aspects of the mining, energy, chemicals and life sciences industries globally. Our research includes face-to-face meetings with the main protagonists in the field to form an accurate picture of the actual situation on the ground.
The Western USA Mining 2024 Report looks at copper, lithium, uranium, rare earth, and other minerals are in-demand commodities and prevalent in Western USA. From northern Alaska to southern Arizona, the Western USA boasts rich reserves of these minerals. The world is in a race towards a more green and electrified future, and these metals have become a focal point in global discussion, being designated by many nations as "critical," resembling oil in terms of their geopolitical significance. Nations worldwide are after self-sufficiency and reducing reliance on foreign sources; the US is no exception.
With approximately 110 interviews conducted with government authorities, associations, and key C-level executives across the mining value chain, GBR's Western USA Mining 2024 report offers a comprehensive overview of the current state of the mining industry. This report aims to provide readers with on-the-ground insights, allowing them to understand how the past has shaped today's US mining industry and what industry leaders hope for the future.
About Grid Battery Metals Inc.
Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market. www.gridbatterymetals.com.
About Texas Springs Property
The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation. A Phase 1 exploration program at the Texas Springs Property (Fall 2023) yielded results with average lithium grades of 2010 ppm, applying a 1,000 ppm cut-off, and up to 5,610 ppm Lithium.
The Texas Spring property adjoins the southern border of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. ("Surge") (TSXV:NILI)(OTCQX:NILIF) and comprised of 725 mineral claims. Surge's first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023). More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023). Our exploration results are on-trend with these results.
About Clayton Valley Lithium Project
The Company owns a 100% interest in 113 lithium lode and placer claims covering over 640 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.
Volt Canyon Lithium Property
The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.
About the British Columbia, Nickel Projects
The Mount Sidney Williams Group consists of three claim blocks with a total area of 10,569 hectares in the area surrounding Mount Sidney Williams, both adjoining and near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium. At least some of the nickel mineralization occurs as awaruite. The Mitchell Range Group area claim consists of one claim block covering 8,659 hectares with demonstrated metallic mineralization including nickel, cobalt, and chromium. Nickel cobalt mineralization has not been well explored, but the presence of awaruite has been documented.
On Behalf of the Board of Directors
"Tim Fernback"
Tim Fernback, President & CEO
Contact Information:
Email: info@gridbatterymetals.com
Phone: 604- 428-5690
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements. It should be noted that results from any adjacent property(s) are not an indication of what may be found on the Company's property(s).
SOURCE: Grid Battery Metals Inc.
IAU, KRR, MAI, TUO, SVB, EDV, RIO, BTO
It's become almost routine. Yes, Nevada miner i-80 Gold aka IAU has released yet another set of high grade results from its Ruby Hill development project. This time we hear about the final three holes of the recent drilling completed in the Hilltop set of skarn and CRD deposits, this time in the mostly recently discovered East Hilltop zone. How does 13.7% Zn, 0.6% Cu, & 17.5 g/t Ag over 57.8m including 21.6 % Zn, 1.9 % Cu, & 54.6 g/t Ag over 9.5m. strike your fancy? this hole is notable not only for the high grade over a long sequence, but also the first appearance of high grade copper in the Hilltop area.
The PR continues on through a useful summary of all the various deposits IAU has discovered over the two years it has been exploring Ruby Hill, but they remain coy about the identity of the potential development partner that funded this most recent drilling.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34584998
Last week we heard about the latest gold results from Karora Resources aka KRR's Beta Hunt mine in Australia. Now we hear about the nickel drilling results, and they are impressive.
This drilling was in the 50C Nickel zone, which will be accessed from the drive they constructed last year. With intercepts like 8.2% Ni over 5.1m, including 13.7% Ni over 2.6m, plus 12.0% Ni over 2.9m, these drill results should contribute to a substantial increase in the Gamma Mineral Resource, which will be updated later this year. 50C remain open along strike and drilling is ongoing.
Note that KRR has the facilities to process nickel ore on site
https://www.siliconinvestor.com/readmsg.aspx?msgid=34585077
If you are interested in Mexican gold miner/developer Minera Alamos aka MAI, here's an interview with the CEO where he first discusses the details of the 'Plan B' they announced for Santana last week, plus some useful perspective on the current political state of mining in Mexico. Perhaps most importantly, he makes clear that if the permit amendment does come through, which could happen at any time, Plan B is being designed so that they can quickly flip back to Plan A. As well, we learn that Plan B, to produce 20k oz Au over 12 months from known mineralization, could start up as early as next month.
https://open.spotify.com/episode/1uTQuU2lLVc7jjaP3lQz19?si=f5JiYQB3QR2vdeebvVmskA
I have no idea if it will make any difference or not, but some of you might be interested in knowing that BC explorer Teuton Resources aka TUO is now trading on the OTCBB using the symbol TEUTF.
https://thenewswire.com/press-releases/1L5PF2XGD-teuton-resources-trades-on-the-otcqb-in-the-usa-and-is-dtc-eligible-ticker-symbol-teutf.html
Silver Bull Resources aka SVB provided an update on its arbitration claim against Mexico regarding its Sierra Mojada property in Coahuilla, Mexico. SVB has been unable to access the property for years thanks to an illegal blockade which Mexican authorities have refused to take down.
Hence, SVB has filed a claim for $178M in compensation under something called NAFTA Legacy proceedings. A three person arbitration panel has just held its first hearing, SVB is scheduled to file its submission in May preparatory to the actual Arbitration hearing scheduled for October 2025. Given the large amount of money involved, I expected this process to be extended to its fullest possible length by whoever loses.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34586201
We already knew this was going to be a pivotal year for west African gold miner EDV; in the wake of having to fire the CEO, they need to make up for it by smoothly bringing on line the new mines that have been developing.
Today we get an update on the first of these, the Sabodala-Massawa mine in Senegal where production is being expanded using the BIOX process. Construction is now 91% complete, with wet commissioning underway and the first gold pour expected in May. As well, an FBS for Phase 2 expansion is underway and is expected to be completed by year end. EDV is projecting 2024 production of up to 400koz at Sabodala-Massawa at an industry leading AISC of less than $850/oz, with costs expected to continue to decrease in coming years.
So far this expansion project has been on time and under budget. If they can maintain that status with their other growth initiatives they should regain the favour of the market.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34586212
The IKN newsletter brings us a nice tidbit of gold developer Rio2 aka RIO, pointing out that WPM's recent quarterly update includes RIO's Fenix mine, currently under construction, as a future source of gold for WPM, thereby implying that WPM remains happy to be contributing funding to the development of Fenix.
Fwiw, in the wake of B2Gold aka BTO's Q4 results release, BMO issued a new analyst report. Citing Q4 production as in-line with lower cash costs, BTO having enough liquidity to get them through 2024, and construction of the Goose project in Nunavut remaining on track for 1st production Q1 2025, BMO kept BTO at Outperform with a target of $6.50.
There is a whole family of Osisko-related stocks, also including OM.
ODV used to be Barkerville Gold, notorious for having done not one but two 10 for one rollbacks without accomplishing much. I guess, given the way ODV is operating, the leopard has changed its spots but nothing else. I hope one of those exploration holes at Tintic hits and gives me a chance to get out of the warrants without taking too much of a loss, but the odds are against me, particularly due to the overhang from there being so many bagholders who bought in at higher prices and are similarly looking for their first change to get out.
LC
$EVKRF Update: Grid’s immediate neighbour to the north of its Texas Spring Lithium Property, Surge Battery Metals, reports their North Nevada Lithium Project is a significant lithium deposit and one of the highest-grade lithium clay deposits worldwide.
Grid’s immediate neighbour to the north of its Texas Spring Lithium Property, Surge Battery Metals, reports their North Nevada Lithium Project is a significant lithium deposit and one of the highest-grade lithium clay deposits worldwide.
— Grid Battery Metals Inc (@GRIDBattery) February 26, 2024
Click on the link to read their latest…
Hey Bob, hope all is well!
I started a Uranium 2024 over at Mike's, could use a boost other than me
https://forum.mexicomike.ca/viewtopic.php?f=33&t=18523
Love to hear from you brother!
Steel
Didn't know there was an ODV and an OSK.to.
IAU, KDK, BTO, ARK, OGC x 2, ODV x 2, KRR, MAI
Must be PDAC time -- everyone decided to put out NRs at once!
Given the low offering price, it is no surprise that Nevada gold miner i-80 Gold aka IAU have closed its most recent PP heavily oversubscribed. They will end up with more than $23M, which depending on the spend so far this quarter, might leave them with more than $100M in their cash stash. Read the PR itself a list of insiders who took down over 160k of the PP shares, with CEO Evan Downie alone grabbing 110k.
Given where the current share price is sitting as a result of the PP, since it does not include warrants you can essentially participate in the PP itself by buying shares on the open market. That is what I have been doing of late.
https://ca.finance.yahoo.com/news/80-gold-announces-closing-oversubscribed-110000950.html
Kodiak Copper aka KDK released the final results from 2023 regional exploration on its MPD property in south central BC, and they only add to its prospectivity. They were able to identify five new targets at MPD, raising the total number of 24 targets, of which only eight have been drilled so far, with results still pending for two of those. MPD is looking more and more like it has district potential, with mineralization identified so far across 20 km containing a number of porphyries.
Two of the new targets are considered drill ready. At Blue, where a sample yielded h 3.19% Cu, 0.21 g/t Au, and 41 g/t Ag, geophysics has identified an anomaly that extends over 700m deep from surface, while soil testing has identified an anomaly more than a kilometre wide. At Celeste, where a grab sample yielded 0.69% Cu, 0.68 g/t Au and 4.5 g/t, geophysics and geochemistry has revealed a large target only 600m from the Gate Zone drilled out last year. Expect exploration drilling this year and these two and other targets.
Even though KDK has identified a district scale system of porphyries, the stock continues to be unloved by the market. The IKN newsletter last week gives a bit of perspective, reminding us how Ross Beatty made himself rich by accumulating similar large low grade porphyries in South America when no one else wanted them. I expect something similar to happen with the BC porphyry explorers in BC as the copper shortage generates more bites. To put it another way, I will continue to accumulate KDK shares on the dips.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34579084
Thanks to the recent developments regarding B2Gold aka BTO, there is little chance I am going to buy in any time soon, so I am going to cut back on my coverage. I will still mention when I come across a new analyst report. In the meantime, here's a link to their latest PR concerning Q4 financial results
https://www.siliconinvestor.com/readmsg.aspx?msgid=34580475
FWIW, in response TD issued a new analyst report calling the impact of the PR Slightly Positive, citing in line production with costs slightly below guidance, They kept BTO at Action List Buy (their top rating) with a target of $7.
Arras Minerals aka ARK brings us news regarding their Elmes prospect in Kazakhstan (which is not part of their exploration alliance with Teck). Last month we heard about the results of re-assaying historical drill core, and now we hear about the first 60% of the 31k soil samples ARK collected last year on Elmes, centred around the Berezski target, and it looks promising.
ARK has been able to confirm an 8.8km long Cu anomaly, and even more importantly, a 2.8 km x 1.6 km Mo 'bulls-eye' anomaly, which looks to be the centre of a very large poryphyry that reaches surface. Since it has not been drilled to depth and its outer extent is below cover, it will take drilling to confirm its extent
We will hear about the rest of the samples collected last year in about a month, and then I expect we will hear about a drill programme to come.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34580492
Oceanagold aka OGC reported its Q4 and year end results, and at best they were mixed. In Q4 the Halle mine continued to increase output as more underground production came on line, while Didipio in the Philippines did very well and the New Zealand operations well enough that with 2023 production of 477,313 oz Au and 14,172t Cu, OGC managed to sneak just in the the low end of 2024 guidance, though they missed on costs.
In 2024 they did achieve $1b in revenue for the first time, and although financially Q4 was not great thanks to non-cash writedowns, they did well enough for the quarter to increase their cash stash to $61.7M. If they can come anywhere near 2024 guidance of 510-570k oz Au and 12-14kt Cu at a cash cost of $875-975/oz Au, I expect them to grow that substantially while also paying down debt.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34580514
OGC also released their annual Mineral Reserves and Resource update. Although they were able to increase existing Reserves at some locations and declare new Reserves at others, net of mining depletion their overall Proven and Probable Reserves decreased slightly in 2023. Meanwhile their Measured and Indicated Resources also decreased slightly in 2023, while the much smaller Inferred Resources decreased substantially. They still have many years of mine life left, and a number of exploration opportunities, but if the decline continues it will have to be addressed at some point.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34580574
FWIW, in response to the two OGC Prs, BMO issued a new analyst report calling the impact Mixed. Noting the lower guidance for 2024, BMO kept OGC at Outperform but lowered their target from $4.25-$3.75.
Osisko Development aka ODV issued a rather odd PR with the sole mission of warning us that their 2023 annual results are going to look terrible because they will include a non-cash $80-120M writedown on the carrying value of the Trixie gold mine. To me this confirms that they are poorly-run company, and at this point I wish I had not bought even small amounts of ODV warrants, which I expect will expire worthless.
https://ca.finance.yahoo.com/news/osisko-development-provides-upcoming-end-120000779.html
ODV also released the remaining assays from drilling at the Trixie mine, located on the Tintic property in Utah. They continue to intersect narrow high grade veins. They also released the results of an extensive underground chip sampling prgramme at Trixie, which similarly found a number of narrow high grade veins.
Expect a new Resource Estimate for Trixie to be released next month. We are also still waiting for the assays from a hole that was aimed at finding a porphyry below Trixie, which if it hits big could materially change the Tintic project. Likewise for the hole underway targeting the Big Hill Cu/Au/Mo target.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34580603
Australian gold miner Karora Resources aka KRR released the latest results from ongoing drilling at its Beta Hunt Au/Ni mine.
In the Fletcher zone, where they hope to find enough mineralization to declare an initial resource and start mining by the end of the year, drilling at the north end of Fletcher found significant results like 3.8 g/t over 33.0m and 34.6 g/t over 2.0m, with the drill now back in the central portion of the deposit doing infill drilling.
In the Larkin zone, infill drilling delivered assays like 6.7 g/t over 9.4m and 13.7 g/t over 3.5m. Again, these results will be integrated into an updated Resource Estimate and eventual production, as KRR works to achieve its goal of reaching an annualized 2.0 Mtpa of ore from Beta Hunt by the end of 2024,
https://www.siliconinvestor.com/readmsg.aspx?msgid=34580630
Mexican gold miner Minera Alamos aka MAI had a tough first year for its Santana Au mine in Sinaloa, Mexico. First, a terrible drought delayed the initial increase in production, and then the Mexican federal government started dragging its feet on granting the permits to expand the hep leach area and hence production. But a junior mine developer has to be nimble, and the very experienced management at MAI has come up with a new plan to increase production regardless by using the existing heap leaches to process higher grade ore from the Nicho Norte and Nicho Main zones currently being stockpiled.
They are currently in negotiation with contractors to carry out the necessary work and will release more details in the next few months. And of course, the permit for heap leach expansion could come at any moment, particularly if outgoing President AMLO's party does poorly in the upcoming elections.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34580656
$EVKRF: Grid Battery Metals Provides Update for the Proposed Spin-out and TSX Venture listing of its subsidiary, AC/DC Battery Metals Inc.
Click here for news with images:
https://www.caledonianrecord.com/news/national/grid-battery-metals-provides-update-for-the-proposed-spin-out-and-tsx-venture-listing-of/article_c2694793-002c-5417-bf0c-25e1c88a4722.html
TUO, BTO, SOLG
Before going on to discuss the latest PR from Teuton Resources aka TUO, it is worth considering its history with the Treaty Creek property in BC Golden Triangle. TUO originally staked the property in 1985. After a series of transaction, both TUO and AMK ended up with carried 20% interests in the property, with TUD owning the rest and assuming the position of operator. I included this brief review to show how long the mine finding and building process can take. It is not a field for the impatient investor!
(Note also that TUO holds NSRs over most if not all of the deposits that look like they might be economic.)
Now on to TUO's latest PR, which concerns the release of an updated Resource Report for the Treaty Creek property. After last year's successful drilling campaign, it is not surprise that the already enormous project has grown substantially,
First off, the Indicated Mineral Resource increased by 19% AuEq, consisting of a 16% increase in Au, a 14% increase in Ag, and a 32% increase in Cu. The Indicated Resource is now 27.87M oz AuEq within 730.20Mt of ore at a grade of 1.19 g/t AuEq, comprised of 21.66M oz Au @ 0.92 g/t, 128.73M oz Ag at 5.48 g/t, and 2.87B lbs of Cu at 0.18%. Meanwhile, the Inferred Resource is now is now 6.03M oz AuEq within 149.61Mt @ 1.25 g/t AuEq, comprised of 4.88M oz Au @ 1.01 g/t, 28.97M oz Ag @ 6.02 g/t, and 503.23M lbs of Cu at 0.15%.
If you are interested in Treaty Creek, the NR includes a detailed breakdown of which resources are located in which domain, and you should also check out the new diagram which more clearly lays out the various deposits and their interrelationship.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34577760
FWIW, in response to last week's murder of contractor's working at B2Gold aka BTO's Fekola mine in Mali, TD issued a new analyst report calling the impact Negative but kept them at their highest rating Action List Buy, with a target of $7. Meanwhile, Scotia also issued a new analyst report, likewise calling the impact Negative but also maintaining BTO at Sector Outperform with a target of $6.50.
Given that Fekola accounts for almost half of BTO's NAV, it is this kind of security concern and country risk that keeps me from buying back into BTO in spite of what it otherwise a compelling valuation. Mind you, if the share price continues to drop I might not be able to resist the temptation. $2 would definitely be a compelling price for me to buy if it gets there.
As a reminder of how devastating country risk can be, I checked out Ecuadorian developer Solgold aka SOLG's share price for the first time in a while. I sold my shares a few years ago when things starting looking bad for mining in Ecuador, and even though SOLG has done a lot of work that should have increased the value of their flagship property Cascabel, including releasing an updated PFBS last week, the current share price is about 20% what I sold my shares for (at a loss).
Saville points out how ugly it has been for gold stocks of late. HUI is testing support set last October. and GDXJ has broken support and is not far above its own October low. He thinks it is certainly possible that HUI tests its 2022 low around 175 before a rebound begins.
And the IKN newsletter brings us a long analysis of how misleading last week's headlines about outgoing president of Mexico AMLO attempt to ban the construction of open pit mines on NEW conncessions (not existing ones) is certain to fail. Move along folks, nothing to see here (other than to cause the naive and uninformed to avoid investing in companies mining in Mexico).
LC
$EVKRF: Blue Skies Ahead for EVs and the Energy Metals That Power Them:
Blue Skies Ahead for EVs and the Energy Metals That Power Them
— Grid Battery Metals Inc (@GRIDBattery) February 20, 2024
Click on the link to read the full article.https://t.co/WRMLsaIiFs$CELL $EVKRF #Lithium #ElectricVehicles #BatteryMetals #Nevada
Thanks for keeping an eye on TUO
IAU, CKG, TUO
Nevada gold miner i-80 Gold aka IAU released another set of high grade drill results comprising the rest of the 2013 drilling completed in the Helen Zone of the McCoy-Cove property, which is expected to be the first area mined. Cove is already known to be one of the highest grade gold development projects in North America. a reputation further enhanced by intercepts like 14.4 g/t Au over 20.2m, 12.7 g/t Au over 24.4m, and 14.3 g/t Au over 8.0m announced in this PR.
Mineralization at Cove remains open in multiple directions, and I am looking forward to what they find with the latest drilling aimed at Helen and the Gap zone. Another interested part of this PR reminds us of the many barely tested exploration targets on the 15km by 10km McCoy-Cove property which will be investigated in due course.
Unfortunately these stellar drill results haven't kept the share price from crashing through support. The combination of the recently announced PP and the terrible market for junior miners has really hit the stock price. I just might have to buy some more.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34569648
Mexican explorer/developer Chesapeake Gold aka CKG brings us news of their 'other' project, Lucy, located Sinaloa, where a drill prgramme last year discovered a 500m gold-bearing skarn corridor. Now we hear that a programme of metallurgical testing has yielded excellent recoveries of up to 97% of contained gold. CKG also announced that a new programme of drilling and trenching is underway to extend the skarn and investigate other targets on the property.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34569669
Teuton Resources aka TUO's JV partner Tudor Gold released a new PR which was primarily an announcement of TUD establishing an 'at-the-market' equity programme -- glad it's TUD and not TUO doing this, as I do not like these programmes which essentially allow a company to spew out more shares at the prevailing market price whenever they feel like it -- but also contains a bit of sugar to make the medicine go down in the form of a review of 2023 drilling at the JV partners' Treaty Creek project in BC's Golden Triangle.
Among the accomplishments:
-extending Goldstone 250-350m to the north and northeast;
-established a number of higher grade gold-bearing areas both within and outside the Goldstorm MRE;
-established some areas with higher copper grades;
-found an area called SG-1 with much higher gold grades
-Goldstorm now measures 2400m in length, 1300m in width, and 1500m in depth, and it remains open to the south, north, northeast and at depth;
-and the new PSZ zone with very high gold grades was discovered between Goldstorm and the Iron Cap deposit 5 km away.
TUD also confirmed a new Resource Estimate for Goldstorm will be released Q1.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34570943
$EVKRF News: Grid Battery Metals Team Provides Nevada Exploration Update for 2024
Click here for news with images:
https://finance.yahoo.com/news/grid-battery-metals-team-provides-123000945.html
IAU x 2, WM, QRC, KTN, TECT, OGC
Today we got two PRs from Nevada gold miner i-80 Gold aka IAU. One of good news, the other not so much.
The good news: more high grade drilling results from the South Pacific Zone on their Granite Creek property, which is expected to become the chief source of ore once the decline is completed. Drill results like 28.1 g/t Au over 4.4m, 10.6 g/t Au over 9.4m, & 13.6 g/t Au over 5.2m indicate the SPZ should become a major money-spinner Note the the SPZ remains open at depth and to the north.
IAU plans to begin production from the SPZ in the coming months, first with test mining, then more definition drilling, then an updated Feasability Study, during which time a Mining Plan will also be developed.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34563957
The not so good news is that IAU also announced yet another PP, again priced below market at $1.80. Clearly many moneyed folks want to chuck money at them, but with mining income already starting to ramp up, do they really need to add more dilution?
https://www.i80gold.com/i-80-gold-announces-non-brokered-private-placement-of-up-to-c18-million/
In response to the Granite Creek PR -- they don't mention the latest PP, which was announced later in the day -- Scotia issued a new analyst report on IAU calling the Granite Creek PR Positive, while maintaining IAU at Sector Outperform with a target of $4.
Wallbridge Resources aka WM released the results of its fall drilling programme in and around its flagship Fenelon gold project in Quebec. 14 step-out holes in the Area 51 zone outside the current MRE found significant intercepts like 17.05 g/t Au over 2.75m and 4.36 g/t Au over 7.50m, including17.55 g/t Au over 1.50m, will serve to increase the numbers at the next updated Resource Estimate for Fenelon.
In addition, exploration drilling at F1 (1km north of the MRE) and F5 (2.5 km East) yielded assays like 8.71 g/t Au over 0.60m and 0.52 g/t Au over 18.45m indicate potential for further expanding resources.
Drilling has resumed at Fenelon, aimed at further defining and upgrading near-surface Au which can improve Fenelon's economics over the recent PEA.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34563873
There has been an interesting development regarding Queens Road Capital aka QRC. It was originally set up by Australian mining billionaire Andrew Forrest and a few of his rich friends as a vehicle to generate interest from mining ventures via the placement of convertible debentures. Now we hear that Wyloo Metals, a private mining company own by Forrest, has reached an agreement to sell all the almost 108M shares of WRC it owns to a group of non-Canadian private investors.
Fortunately in terms of maintaining orderly trading, the sale will be carried out off-market. It is expected to close within two weeks QRC is pitching this transaction as removing a significant overhang on the shares. We shall see, given we know nothing about the new owners of the shares or their intentions.
https://ca.finance.yahoo.com/news/queens-road-capital-announces-sale-120000883.html
Last year we got news that Kootenday Silver aka KTN was going to sell one of its non-core Mexican properties to company called Fabled Silver Gold. Well, the 'fable' part is accurate; today FCO announced they were unable to raise the necessary funds are are terminating the transaction.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34563849
Bloddy drill plays....
When they hit, you can do really well holding their shares, but you can lose it all if they miss. And sometimes even when they hit, if what they find doesn't meet hyped-up expectations, you get a cratered share price, and that's what happened today to Tectonic Metals aka TECT.
If you didn't know about the inflated expectations, you would be pretty happy that all 19 holes on TECT's initial drill campaign on the Chicken Mountain target on their Flat prospect in Alaska hit gold, and that 12 of them ended in minerlaization. And you'd be glad that Chicken Mountain has been delineated to a strike length of 1.8KM and to a depth of 300m while remaining open in all direction. And you'd be happy that Chicken Mountain is looking more and more like a viable open pit mine analogous to the nearby Fort Knox mine. And you'd be glad that the oxidized ore runs deep enough that all 19 holes had low sulphur values.
Some of the intervals are over 400m long averaging around 0.4 g/t Au, and there were many high grade intervals like 36.40m of 1.22 g/t Au and 37.32m at 1.02 g/t Au, but this again clearly wasn't enough to meet inflated expectations. A knowledgeable friend who has followed the company closely expects them to do rollback and a PP before they resume exploration this summer. That would not surprise me, but I sure hope the share price recovers before any PP. In the meantime, they will continue metallurgical testing and re-assaying of historical drill core.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34564823
FWIW, in the wake of Friday's announcement by Oceanagold aka OGC of an IPO on the Philippine Stick Exchange for part of a subsidiary that holds the Didipio Au/Cu mine, Scotia issued a new analyst report calling the move Positive, citing the new Resource Report and Mine Plan for Didpio, which aims to lead to an increase in production which will be paid for by the proceeds of the IPO. Scotia kept OGC at Sector Outperform with a target of $4.50.
FWIW, TD put out a new analyst report regarding their outlook on PMs. Citing continued ncear-record central bank buying, that over the last 40 years the PoG has gained an average of 34% during cycles of US interest rate easing, and that margins are expected to grow as the increase in the Pog exceeds the growth in costs of mining, they are maintaining an Overweight recommendation on the sector.
The IKN newsletter points out that e GLD Inventory/price ratio hit a brand new all-time low. Given that GLD is the preferred instrument for Wall Street to invest in gold, their disdain for the shiny metal at this point becomes ever more evident. Given the amount of money they control compared to the tiny size of the entire PM sector, a positive change in their attitude backed up by buying GLD could move the PoG north in a hurry.
Saville also commented on this unusual divergence between the rise in the PoG vs. the continued decrease in the amount of gold held by ETFs like GLD. He believes that this divergence will eventually move the PoG to the upside. He also comments on another unusual development, gold stocks underperforming the PoG over an extended period, and again expects this to resolve with a rebound in PM stocks.
TUO, OGC
Tudor Resources aka TUO and its JV partners have reported some important news regarding their Treaty Creek project in BC's Golden Triangle. All the drill results from 2023 have already been released, but further analysis of the results have led to new revelations.
The first concerns the discovery of a high grade Au beccia within the Goldstorm deposit. These types of higher grade areas can make a large difference to the economics of the overall project, so following up the 2002 discovery hole for the newly-defined SC-1 zone, which yielded 20.86 g/t AuEq over 4.5m within a 25.5m zone of 9.96 AuEq, with two stepouts, one yielding 15.64 g/t AuEq over 15.0m, the other 10.07 g/t AuEq over 12.0m, is impressive. The SC-1 zone has now been defined over 400m down plunge and over 300m along a northeastern axis, though it will take more work to define the width.
The geologists also report that examination of the results of the 2023 drilling should lead to a substantial conversion of Inferred to Indicated Resources in the Resource Estimate update currently under way. They also remind us that even after so many years of exploration and drilling, Goldstorm remains open in all directions and at depth.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34558274
Oceanagold aka OGC released a PR containing a number of updates regarding their Dididpio Au/Cu mine in the Philippines. You may recall that OGC spent the year bringing Didipio back into full operation after it was shut for some months after permit problems, now resolved.
First off, OGC plans to list 20% of the shares of the subsidiary that owns Didipio on the Philippine Stock Exchange, in an offering which is expected to raise up to $150M.
The reason they are raising these funds is to pay for implementing the results of a recently completed Mine Optimization Plan, which foresees increasing both mining and milling rates while increasing ore grade and extending mine life. The details of how this is to be implemented will be defined in a 43-101 report to be released H1 2025.
OGC also reported that the Didpio P&P Reserves were down slightly from last year due to mining depletion exceeding resource conversion, but this is expected to turn into growth once proper exploration, which had been on hiatus due to the permit issues, resumes in earnest. And they also report some initial assays from both resource conversion and exploration drilling, which is already yielding positive results.
As a reminder, OGC just sold a non-core asset in New Zealand for $30M and their mining operations are profitable, so barring new initiatives they should have no need to raise any other capital for the foreseeable future.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34558322
CTGO $16.96, about to go into production at their Alaska gold mine. They are 30% partner with Kinross. Kinross is going to use the high grade ore to use part of the capacity at their Fort Knox Mill that is running out of ore. They are mining ore now and trucking it to Fort Knox. Will start processing the ore in late spring. Full year production should net Contango around $50million/yr cashflow. There are only 10 million shares out so about $5/share cashflow.. That's less than 4X current share price. I know gold stocks are cheap but that's pretty low.
Of course,mine life at Manh Choh is only 4-5 years so they have to use the funds wisely. They intend to pursue another past producing mine at Lucky Shot. They have a small resource now but intend to build it up to 300K oz and sell it or JV with Kinross again to supplement Fort Know Mill feed. They have two more prospects that might work the same way in the future.
Not the most exciting "discovery" story but it looks like a no brainer with Kinross doing all the heavy lifting.
https://ucarecdn.com/64d82945-5297-43f5-b5c9-ca0d00af052f/ContangoCorporatePresentationJan202401.pdf
UROY, URNM, CCJ, LEU, URNJ
Uranium stocks all up big today due to Kazataprom earning report and guidance. They affirmed their recent PR that said 2024 production will be similar to 2023 versus their previous guidance of a BIG increase in production. Apparently they can't get enough sulfuric acid to increase production. I watched a video from Justin Huhn, Uranium Insider. He announced several months ago that he was skeptical of any increased production. His logic made a lot of sense. Said Kazataprom is operating ISR wells. They have to drill lots of wells to maintain production, much less massively increase. They have not been showing capex increasing. It takes a long time for them to drill more wells that will have flush production for a few months to increase production. This lack of increased capex foretold that 2024 would not show increased production.
So this affirmation of no big increase in production in 2024 plus Cameco also reporting trouble hitting production targets means the two big players in U production are not going to increase production in the near term.
Very bullish for U stocks. Could be a multi year bull run versus the big spike and drop in the last couple of runups. At some point greed will cause an over reaction and it will be time to take profits but that seems over the horizon now.
NTH, KTN, EDV, OGC, BTO, RIO
You might be wondering who NTH is. Why, Nord Precious Metals, of course. Personally I think they should have changed their symbol to ADHD. I first knew tham as TKK, then CSM, then CCW, now NTH, and they have changed their name without changing their symbol a few times along the way, as they repeatedly change focus and started new projects.
In their latest PR they are announcing the new name and a new focus, or rather an old one. Yes, they still have the nickel prospects, and the lithium prospects, and the gold prospects, and the lab, but now they are back to where they used to be, focused on the Castle Mine Ag/Au/Cu property near Cobalt, Ontario. They have been drilling on and off and have pulled some nice intercepts, both underground and near surface, but they have resumed the permitting process to extract a bulk sample.
Of course, their ADHD is still in play, as they also announced a new initiative to try to reprocess existing tailings dumps in and near old mines in the Cobalt area. The leopard may have changed its symbol and name, but not its spots....
https://www.siliconinvestor.com/readmsg.aspx?msgid=34553092
If any of you were wondering why the selloff in Kootenay Resources aka KTN, it is related to an ETF adjusting their holdings in an index which includes KTN shares. Whatever the reason, I was happy to add a few more shares to my holdings at a good price, not the bottom but a price I am happy with.
After poking around a bit I discovered that this same buying opportunity lasted for a few hours or more for the rest of the silver stocks affected by this move.
https://ca.finance.yahoo.com/news/kootenay-silver-trading-activity-122500266.html
West African gold miner Endeavour Mining aka EDV has been going through a bit of a rough patch lately. Last month they had to fire their CEO for malfeasance, and now we hear that there has been a strike at Hounde in Burkino Faso, their second biggest mine which produced 11% of their gold last year.
We have heard nothing from EDV about this, but a Bloomberg report tells us that the strike started on Jan. 21, albeit but nothing about the reasons why. We also hear that a court has issued an order ending the strike, but we hear nothing about how well that order is working.
Something to keep an eye on...
https://www.siliconinvestor.com/readmsg.aspx?msgid=34555771
In 2018 Oceanagold aka OGC enetered into an agreement with a private company called Tasman Mining to develop Blackwater, one of the deposits on its Reefton gold property in New Zealand. In the intervening years, Tasman has been working away on the project, and now OGC has agreed to sell Blackwater to them for $30M, a nice bit of cash to pick up for a non-core project. The deal is expected to close later in 2024.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34555806
The Otjikoto mine in Namibia has been a good producer for B2Gold aka BTO, but current reserves will be mined out by 2026. Hence, it is good news to hear the latest drill results from Antelope, a deposit about 5 km from current operations. BTO believes the mineralization at Antelope can be mined using the same techniques as used at their nearby Wolfshag deposit, which recently started production as an underground mine.
Based on drill results like 12.88 g/t Au over 7.60m from 485.00m at the Springbok Zone and 9.86 g/t Au over 7.48m from 517.55m at the Oryx Zone, BTO believes it can start mining at Antelope by 2026, though before that they need to complete a Resource Estimate expected in Q3, followed by a scoping study in Q1 2025, and then a construction decision.
These discoveries increase the temptation for me to buy back in to BTO as the share price has remained depressed after recent problems in Mali.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34555850
FWIW, in the wake of BTO's PR, TD issued a new analyst report calling the impact Slightly Positive, estimating that based on drilling results to date Antelope will amount to at least 200k oz Au, with plenty of potential for growth as exploration continues. They maintained BTO as Action List Buy (their highest rating) with a target of $9.
The INK folks, who track insider buying, today put out a special report on Chilean gold developer Rio2 aka RIO in the wake of RIO receiving the delayed permit to develop the Fenix project in far northern Chile. This report tells us that RIO has moved up to 4th place on INK's Top Mining List, and that there had been some insider buying in the wake of receiving the permit. (I added some more to my stash around the time of the insider buy, though I got a slightly better price.)
$CDSG News: ASTER DATA IDENTIFIES HUGE SPECTRAL ANOMALY AT TITAN 1
China Dongsheng International Inc.
Las Vegas, NV., Jan. 30, 2024 (GLOBE NEWSWIRE) -- Titan Lithium Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to announce that it received a report detailing a completed multispectral ASTER analysis across the large Titan 1 Lithium Project area in Tanzania. The contents of the report covers an examination of spectral data conducted in late 2023 and represents an important fully independent confirmation of the company’s observations recorded to-date on the projects as well as providing multiple new high value targets.
The term ASTER stands for the Advanced Spaceborne Thermal Emission and Reflection radiometer. Optical and thermal remote sensing data from satellites has been an important tool in geological exploration for more than four decades. ASTER covers a wide spectral region from visible to thermal infrared by 14 spectral bands with high spatial and spectral and radiometric resolutions.
Such multispectral analysis has been employed to pinpoint mineral deposits including potential locations of pegmatite-hosted lithium occurrences. Within large lithium-rich brine areas such as the Salar de Atacama in Chile, ASTER data has shown that it can be used to map key lithological and mineralogical components of the lithium-bearing playas such as altered rocks and hectorite bearing clay.
Within the southwest U.S. spectral anomalies have been identified which relate to mineral assemblages of accessory and lithium hosting sediments over several of the large known lithium resources in this large region.
Figure 1 shows hectorite, illite and other accessory minerals anomalies over the large 21.5 million tons Lithium Carbonate Equivalent (LCE) McDermitt resource currently under exploration by Jindalee Lithium. The McDermitt project sits approximately 22miles (35kms) north of the 19.5 million ton LCE resource of the Thacker Pass deposit.
Figure 2 shows the results of the examination of the spectral endmembers from the USGS spectral library over the Titan 1 area. Key targeted minerals were identified (hectorite, illite, analcime, albite) in Titan1, of which both hectorite and illite appears to be the dominant minerals.
The study was initiated and completed by Dr. Elisante Mshui from the School of Mines and Geosciences at the University of Dar es Salaam. This analysis was implemented to find potential lithium bearing prospects within Tanzania and was conducted completely independently of our work in the area.
The observed spectral anomalies at Titan 1 mainly form a large cluster in the central portion of prospective area, precisely where the majority of our 2023 geochemical and geological work has been conducted. The data provides CDSG good corroboration of our own observations, however, the study also highlights additional large unexplored clusters of key minerals, which present new sites to follow up in 2024.
https://finance.yahoo.com/news/aster-data-identifies-huge-spectral-155000346.html?soc_src=social-sh&soc_trk=tw&tsrc=twtr via @YahooFinance @titan_lithium
BTO, IAU, KTN, EDV
B2Gold aka BTO released its Q4 results and they were a mixed bag. That said, the stock may not deserve the 10% haircut it is taking a few hours after the NR.
The positives were all about Q4 production, which increased almost 30% over Q3 to 353k oz AU, allowing BTO to meet guidance for the 8th straight year. The Otjikoto mine in Namibia had an outstanding Q4, while Fekola bounced back nicely after earlier problems with the Mali government. Also good news was that cash costs dropped significantly to $593/oz, which you might think resulting in strong cash generation, but here comes the bad news.
First, the budget for the construction of Back River currently underway in Nunavut has been increased by over $200M. Then we heard that the problems in Mali have led to BTO guiding for a decrease in overall production for 2024 along with an increased in costs. The company is also forecasting that 2025 will see a big leap in production, but the market doesn't seem to care about that right now.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34547614
FWIW, in response BMO issued a new analyst report on BTO, maintaining them at Outperform but dropping their target from $7.50 to $6.50. As well, TD, alwaus more positive on BTO, issued a new analyst report caling the impact Mixed by maintaining BTO as Action List Buy with a target of $8.
Nevada miner i-80 Gold aka IAU released another set of drill results from its Ruby Hill project. This time the focus is on the FAD deposit, acquired when they bought out Paycore Resources last year, and located 500m from the original Ruby Hill mine which yielded large amounts of Au, Ag, and Pb over a century of mining.
Each hole into FAD intersected multiple mienralized horizons, up to six in one hole, with high levels of Ag, Pb, and Az over lengths of up to 15m. In addition the easternmost hole added Au to the mix, with the best intersection being 3.9 g/t Au, 185.6 g/t Ag, 11.1% Zn & 3.6% Pb over 25.4m including 4.1 g/t Au, 350.1 g/t Ag, 13.8% Zn & 7.3% Pb over 11.0m.
IAU has so much going on at Ruby Hill that we only get brief mentions of what might be other important discoveries that will be followed up later, e.g. finding shallow Au near the original Ruby Hill mine that may be amenable to open pit mining, or a hole looking for an extension of Graveyard Flats that found 3.9 g/t Au, 185.6 g/t Ag, 11.1% Zn & 3.6% Pb over 25.4 m including 4.1 g/t Au, 350.1 g/t Ag, 13.8% Zn & 7.3% Pb over 11.0m.
Exploration continues at Ruby Hill, paid for by the potential JV partner whose name remains under wraps. One assumes there is hard negotiation going on behind the scenes, with IAU's hand getting stronger with every new set of drill results.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34548786
Mexican explorer Kootenay Silver aka KTN remains focused on their Columa prospect, but they are also working up a few of their other Mexican properties, including releasing an updated Resource Report on the La Cigaara project in Chihuahua. The didn't manage to increase the overall amount of metal, but by decreasing the tonaage they significantly increased the grade, in the case of M&I from 86 to 102 g/t Ag, in the case of Inferred from 80 to 102 g/t Ag.
M&I resources are now 15.73Mt grading 102 g/t Ag, 0.07 g/t Au, 0.16% Pb, and 0.21% Zn (120 g/t AgEq) containing 51.57M oz Ag, 33.9k oz Au, 54.8M lbs Pb, and 73.5M lbs Zn (or 60.56 Moz AgEq).
Inferred Resources are now 3.37 Mt grading 102 g/t Ag, 0.06 g/t Au, 0.20% Pb, and 0.19% Zn (119 AgEq) containing 11.00M oz Ag, 6.00k oz Au, 14.8M lbs Pb, and 13.8 M bs Zn (12.85 Moz AgEq).
It is not mentioned in this NR, but in the past KTN has said that after completed the updated Resource Estimate they were going to proceed to a PEA, which would certainly help as they continue to look for a partner to develop the project.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34548814
FWIW, in the wake of this week's Q4 production results from African gold miner Endeavour Mining aka EDV, BMO released a new analyst report calling the impact Neutral due to results being basically in line with expectations, and maintaining EDV at Outperform with a target of $34. Meanwhile Scotia released a new analyst report calling the impact Mild Positive, mostly because the new mine construction is proceeding ahead of schedule, while maintaining EDV at Sector Outperform with a target of $37.
Been buying uranium equities for over a year. Own $DNN $MGAFF $FCUUF $FDCFF $ANLDF and $PENMF. All up except $FDCFF. Big gains in $DNN and $MGAFF. Haven't sold any. The shortage of uranium is real and should last for years.
$GEMZ News: GEMXX Forecasts Robust Growth Amidst Surging Demand for Ammolite Jewelry and Gold
LAS VEGAS, Jan. 23, 2024 (GLOBE NEWSWIRE) -- via IBN -- GEMXX Corporation ( OTC: GEMZ ) ("GEMXX" or the "Company"), a leading provider of exquisite gemstone jewelry and mine-to-market gold producer anticipates significant growth over the next 24 months. The Company is strategically positioned to capitalize on the burgeoning demand for ammolite jewelry and the sustained upward trajectory in gold prices.
Ammolite
With ammolite becoming the official gemstone of Canada, it has rapidly gained recognition as a rare gemstone, becoming desirable around the world for its unique history and rich colors. The gemstone’s vibrant colors and limited availability make it a prized possession. GEMXX has experienced additional demand throughout India and Asia as the gemstone appeals to a discerning clientele seeking exclusive and collectible pieces.
Gold
GEMXX Corporation’s expansion into the mining of gold reserves in Canada is a new and welcomed asset to the Company’s balance sheet. Gold adds considerable support to the Company’s “Mine-to-Market” business model in three core elements affecting long-term sustainable profitability:
First, the Company can cut its raw material costs by roughly 60% by mining its own gold for its jewelry segment. These cost savings will not only reduce the cost of goods, but the savings will also be reflected in higher and predictable profit margins.
Second, with effective mining of the gold reserves, GEMXX will be able to accumulate reserves for future funding needs for the Company. Therefore, avoiding additional dilutive fundraising by issuing stock or taking on debt to fund the Company.
Third, investors will be able to participate in a stock based on precious metals and gemstones. With the price of gold today at approx. USD $2,000 per ounce, the future looks promising for gold as it is projected to reach new highs in the coming 24 months. Furthermore, as global economic uncertainties persist, investors are turning to traditional safe-haven assets, particularly gold.
GEMXX Corporation's diversified portfolio, including its gold-related ventures, positions the Company to benefit from the ongoing appreciation in gold prices. "We are excited about the tremendous potential for growth in both the ammolite and gold markets," said Richard Clowater, President of GEMXX Corporation. "Our commitment to quality, craftsmanship and our ability to adapt to market dynamics position us for sustained success. We are confident we will be able to deliver strong returns to our shareholders," further stated Clowater.
GEMXX Corporation's financial outlook aligns with these positive market trends, and the Company remains focused on expanding its product offerings, enhancing operational efficiency, and exploring strategic partnerships to maximize shareholder value.
Investors and stakeholders are encouraged to stay updated on GEMXX Corporation's performance as it navigates the evolving landscape of the jewelry and precious metals industry.
ABOUT GEMXX CORPORATION
GEMXX Corporation (OTC: GEMZ; $GEMZ) is a publicly traded, mine-to-market gold, gemstone and jewelry producer with global reach that owns mining resources, production facilities and operating assets. GEMXX controls each stage of its production including gold mining, gemstone production, jewelry manufacturing and global distribution.
GEMXX is a leading producer of top-quality finished ammolite and ammolite jewelry. The Company’s world-class gemstone cutters and jewelry designers are continuously leading the ammolite industry in new and exciting directions. Our management team is made up of the industry's leading experts with a combined total of 160 years of ammolite gemstone and jewelry business experience.
For more information, please visit: GEMXX Corporation
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties, and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our Company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Signed. /S/ Jay Maull, CEO
GEMXX Corporation
For more information, please contact:
Corporate Communications:
Investor Brand Network (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
CNC.V/CNIKF Canadian Nickel performing well here......
investment from Samsung.......
TUO, ARK, EDV, RRI
If Teuton Resources aka TUO felt any trepidation when the company now known as Blackwolf Copper and Gold bought our Optimium Ventures, their JV partner on the Harry prospect in BC's Golden Triangle, they can relax. OPV had been very gung ho on Harry, and judging by their latest PR, BWCG is just as enthusiastic.
What got them going the most from the 2023 exploration was the identification of 'Brucejack-style remobilized coarse electrum veins' at Harry. Brucejack is the Newcrest-run high grade mine located further north along the same mineralizing trends. Identifying more of these high-grade at surface veins will be the focus of the coming 2024 exploration programme.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34542506
Arras Minerals aka ARK has continued to re-assay historical core drilled on its extensive landholdings in Kazakhstan. This time we hear about three of the nineteen holes drilled into the Berezski East deposit on their Elemes property. Note that the holes were shallow and usually ended in mineralization.
Intersections like 108.0m grading 0.94% CuEq or 1.33 /t AuEq (1.30 g/t Au, 0.19% Cu, and 1.5 g/t Ag) starting at surface, including 30.8m grading 2.21% CuEq or 2.66 g/t AuEq (3.14 g/t Au, 0.39% Cu and 3.0 g/t Ag) starting at surface, are being interpreted by ARK's geologists as evidence of part of a gold-rich porphyry copper-gold system, which forms part of a far larger porphyry-epithermal system within Elemes. Between the various targets, they have now defined Intense alteration and widespread surface mineralization across a 5-km strike Length, open in multiple directions.
The company's focus at Elemes remains the main Berezski Central deposit, but defining other nearby minerlaization certainly enhances the overall project. Note that Elemes is not part of the exploration alliance with Teck over a number of their other landholdings.
https://irp.cdn-website.com/8c0a7d35/files/uploaded/22%20January%202024_Arras%20Minerals%20Berezki%20East%20Re-Assays_FINAL.pdf
In the wake of the recent firing on their longtime CEO for malfeasance, West African gold miner Endeavour Mining aka EDV needed some good news, which they delivered with the release of their Q4 results. Although Q4 production was flat from Q3 at 280k oz Au, this allowed them to meet or beat annual production guidance for the 11th straight year, and they were able to lower costs in Q4, propelling annual costs to the top end of guidance, the best among gold large caps.
They also released 2024 guidance. They plan to increase production by 18% to 1130-1270k oz Au thanks to mine startups in Q2. Thanks to the strong financial performance they ended 2023 with a cash stash of $517M in spite of construction and exploration costs plus spending $100M on dividends in H2 and $26M on share buybacks in Q4. I expect the cash to continue to build in 2024 unless they undertake a new transaction. It also wouldn't surprise me to see a dividend increase, though I would also like to see them start paying down debt.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34545223
Prospect developer Riverside Resources aka RRI has extended its move into British Columbia by announcing the acquisition of two adjoining gold prospects in the southeast corner of the province. They can essentially be considered as one project; indeed, I am going to enter them into my notes as just Deer Park. BTW, last year they acquired a similar project not fr away.
Deer Park has already had considerable exploration including driving a number of adits. RRI are not 'close-ologists' who acquire properties just to use for promotional purposes; before completing the acquisition they carried out enough exploration to identify two prospects named Viking and Cougar Ridge which generated grab samples of up to 7.07 and 3.92 g/t Au, respectively. There are also BM targets on the property. Exploration and analysis are continuing with the goal of generating drill targets in 2024.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34545314
FWIW, Scotia revised their PM price deck, moving their long term gold price from $1700 to $1800. As well, they increased their 2024 gold price by 5% to $2000 and the 2025 gold price by 15% to $1950, while increasing silver prices marginally and adjusting a number of PM stock price targets, mostly upward.
Among the stocks I usually talk about here:
- BTO was kept at Sector Outperform (SO) while raising their target to $7.50
- EDV stayed at SO but the target was dropped to $37
- IAU stayed at SO but the target price was dropped to $4
- OGC was kept at SO but the target was raised to $4.25.
Good stuff Bobwins. Thank you.
Uranium! Missed the last runup in Uranium miners. Could never tell the companies with real deposits from the Moose Pasture guys that put Uranium in their stock name. Anyway I forgot about Uranium until last year. Read a bunch of articles about the upcoming shortage of Uranium and the US reliance on Russia for enrichment.
Basically we produce minimal U308 in the US, even though we have one of the biggest fleets of nuclear reactors in the world. China is going to pass us by a long ways but they have no worries about buying fuel from Russia.
Anyway became convinced that Uranium was actually headed for a shortage. We appear to be very close now. But still had the same problem of not being able to tell the Moose Pasture guys from real Uranium stocks.
So I went the safe way. I invested in LEU, CJC, URNM, UROY and recently URNJ.
LEU is not a miner. They are involved in enrichment. They recently fulfilled a Dept of Energy contract to provide sample amounts of HALEU, the fuel of the future for new design nuke plants. They actually make a small profit and are the logical choice to build actual enrichment facilities on US soil. Bought in the mid 30's so happy with the current mid 50's price and think it can run further as the price of U308 brings in new investors in the field.
CJC Small position. Resisted at first because it's the big safe play but the stock has done really well so have a small position. As the general investors and funds get excited about Uranium, they will go to Cameco first. They are restarting mines and are an actual producer. They still have trouble with flooding in their mines in the Athabasca Basin but those mines are big and will be important for domestic nuke plants that need acceptable sources of U308.
URNM Sprott sponsored mutual fund that covered U stocks. This is redundant because CJC is one of their largest positions but I thought it was the quickest way to cover the industry without me buying tiny amounts of 20 or 30 nuke stocks. Sprott has been pounding the table on Uranium for several years. They are not heroic, they started a physical uranium fund to buy up the physical surpluses of Uranium left over from the Fukashima disaster and say they are not going to sell into the current market. Eventually they will find a way to alter their charter. They have a vested interest in seeing U308 soar.
UROY This is the only uranium royalty company. They have 18-20 royalties from some pretty big names and could turn into a long term hold like Franco Nevada for gold IF this uranium pricing cycle holds up long enough for the quality royalties that they hold to turn into actual producing royalties. Same model as gold, low overhead and IF the royalties produce, very profitable. They were formed by UEC so CEO is also officer in UEC and benefits from that sponsorship. The big current benefit is that UROY can also buy physical U308. They have 2.65 million pounds of yellowcake that was bought at $54/lb. Current spot price of $106 means they are holding $281 million bucks in physical U308 vs a market cap of $381million. So there is a substantial asset in this stock plus a couple dozen royalties that look decent. Bought a small position recently at $2.65 so doing ok.
URNJ Bought very recently. This is the Sprott fund for junior uranium miners. This is hopefully the Moose Pasture plus stocks that could actually have U308 in the ground. Bought a small position because I remember the last time U stocks took off, the juniors left CJC, LEU and other legitimate players in the dust. So far so bad. Got excited and chased it during a recent high of over $29. Currently mid $26.
Will likely stop for now. The news flow should be very positive. Utilities have to purchase enough fuel to keep their reactors producing electricity. The world has finally figured out that renewables can't supply base load energy. Nukes are the current answer. Utilities will have to payup for nuclear fuel. The actual fuel costs are negligible compared to the revs produced by the plants. So if fuel is scarce, they will still have to step up and secure long term supplies. US passed a bill forbidding purchases from the Russian bad guys but left an out in case there is no other viable choice. I think that's going to be the case for awhile. China is going to soak up all available supplies as they are building dozens on new nukes. They don't care where they get it so they will finance uranium mines, buy from the Russians and do whatever to get more energy.
Gold miners and silver miners are still way undervalued but they have been that way for awhile with no signs of changing. Uranium looks like the near term way to profit from miners. Lone Clone knows the gold and silver players and has probably done fine but my miners suck except for the U stocks. Good luck all. Bobwins
Thanks Lone Clone on the comments about TUO.
TUO, IAU, WEX, IPT, CEE, WM
Teuton Resources aka TUO and its JV partners announced the final set pf drill results from their 32km 2023 drill programme at the Treaty Creek project in BC's Golden Triangle. This time we hear about the most northeasterly holes targeting extensions of the Goldstorm deposit, which already has an Indicated resource of 23.37M oz AuEQ grading 1.13 g/t AuEQ and an Inferred resource of 7.35M oz AuEQ grading 0.98 g/t AuEQ.
As they have extended drilling northeast, they have been finding more and more high grade shoots, this time including 138m grading 1.67 g/t AuEQ which contains a central core of mineralization that averages much higher; 3.08 g/t AuEQ over 57m. They are also still drilling up long intersections like 570m @ 1.21 g/t AuEQ, but are increasingly focussing on the high grade areas, which along with the higher copper values to the northeast should have a positive effect on the economics of the project.
Drilling will resume in the spring once conditions allow.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34540019
Nevada miner i-80 Gold aka IAU released the latest set of drill results from its Ruby Hill property.
The first set of results come from the recently discovered East Hilltop zone, and they look good, delivering both CRD intercepts like 2.6 g/t Au, 344.0 g/t Ag, 5.8% Zn, & 6.0% Pb over 2.7m and 1.1 g/t Au, 174.4 g/t Ag, 3.8% Zn, & 2.0% Pb over 15.8m , and skarn intercepts like 22.4% Zn over 5.8m and 197.2 g/t Ag, 7.5% Zn & 5.0% Pb over 6.1m. As well, they found the highest copper values to date at Ruby Hill. They hope to connect this mineralization to other nearby deposits with future drilling.
At Upper Hilltop, infill drilling found intercepts like 2.1 g/t Au, 514.8 g/t Ag, 3.1% Zn & 23.4% Pb over 10.0m, Also at Hilltop, the first hole to the south intersected 60m of skarn mineralization, including 4 narrow high grade intercepts like 1181.0 g/t Ag, 19.5% Zn & 10% Pb over 1.5m, opening up a new area for exploration.
Other drilling confirmed extensions of mineralization at the Blackjack zone and at the FAD deposit to the south, acquired when they bought out Paycore.
IAU has submitted permits to develop an underground mine beneath the Archimedes pit at Ruby Hill. To remind you, a still unnamed third party is funding the current drilling in anticipation of taking a minority interest in the property. Meanwhile, further metallurgical testing is underway, as is a new Resource Report..
https://www.siliconinvestor.com/readmsg.aspx?msgid=34540040
In response, Scotia issued a new analyst report calling the impact Positive, but kept IAU at Sector Outperform with a target of $4.50.
Western Exploration aka WEX reported the results from metallurgical testing on material from the Dolby George deposit on their Auar property in Nevada, which they envision as a future leach heap producer. I would say the results generally look decent, though the complicated metallurgy due to the range of ore -- sulfide, oxide, and mixed -- makes the result beyond my pay grade to completely evaluate. The results will contribute to a future fessibility studies, so I'll be happy to wait to see what those studies say about these results and those of more met testing to come.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34540115
One of the initiatives promised by Impact Silver aka IPT when they bought the Plomosas Zn/Pb/Ag mine last year was to resume exploration on the many prospects on the property, which had been neglected by the previous owner. Now we get the first results from exploration within and around the mine itself.
Three holes from surface in the Tres Amigos zone found high grade mineralization like 5.70m with 7.9% Zn, 5.3% Pb, and 23.2 g/t Ag, and 10.8m with 6.30% Zn, 0.80% Pb, and 14.7 g/t Ag. Meanwhile, 58 samples taken over 50m within the mine yielded an average of 12.1% Zn, 5.8% Pb, and 44 g/t Ag over an average sample width of 1.8 m.
Exploration has now moved on to areas further from the mine itself, even as the continued ramp up of production from the mine and mill is, according to IPT, proceeding smoothly.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34540122
African gold miner Centamin aka CEE released its Q4 and annual production results and as expected, they were good. Higher ore production at higher grades from the Sukari mine in Egypt meant they increased Q4 production to 128127 oz Au, with cash costs decreasing to $984/oz. This in turn means CEE's 2023 production fell in the lower range of guidance in terms of both ounces and costs. We'll get more details when the annual financials are released in March, but they do tell us their cash stash had grown to $153M at year end.
CEE also released their 2024 guidance for Sukari. The new mine plan and the extensive pre-stripping completed last year means they expect 2024 production to increase to 470-500k oz Au, while cash costs are expected to decline significantly to between $700 and $850/oz Au.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34541293
In response, BMO issued a new analyst report, calling the impact Slightly Positive while maintaining CEE at Ourperform with a target of $2.57.
The other day, Quebec developer Wallbridge Mining aka WM updated us on their 2024 plans for their feature projects at Martinere and Fnenlon. Now we get an update on Grasset, located further east on the Detour-Fenelon gold trend. Grasset covers about 20 km of the Sunday Lake Deformation Zone, the same structure that hosts Martiniere, Fenelon, and AEM's nearby Detour Lake mine.
Drilling along the northern contact of the SLDZ found gold in 12 of 20 holes over a 5 km strike length, which they consider a success given the 50-80m of overburden. Assays ranged up to 2.04 g/t Au over 1.50m, but more work will be required to zero in on the targets.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34541331
$GEMZ News: GEMXX to Present at the Sequire Investor Summit in Puerto Rico
LAS VEGAS, Jan. 17, 2024 (GLOBE NEWSWIRE) -- via IBN -- GEMXX Corporation ( OTC: GEMZ ) (“GEMXX” or the “Company”), a leader in the ammolite gemstone mine-to-market segment, is proud to announce that it will be presenting at the upcoming Sequire Investor Summit 2024. This highly anticipated event, scheduled for Jan. 23-25, 2024, at Condado Vanderbilt Hotel in San Juan, Puerto Rico, promises to offer an array of exciting opportunities for funds, companies and investors. Puerto Rico is home to many family offices, funds and wealthy investors due to its favorable tax benefits. It is one of the only places in the world that U.S. citizens can move to and pay virtually no federal or state income taxes.
“GEMXX CORPORATION is thrilled to participate in this year's Sequire Investor Summit and looks forward to sharing its knowledge and expertise with attendees. Join us for an exciting and informative event that promises to be a highlight of the year for funds, companies and investors alike,” stated Richard Clowater, GEMXX president. “Our Revenue Model is perfect for the ever evolving ‘Mine to Consumer’ markets emerging globally.”
The event is designed to bring together forward-thinking investors and issuers with world class speakers. The Sequire Investor Summit: Puerto Rico will feature 40+ presentations from leading public companies, panel discussions, and interactive sessions that will address the latest trends and innovations in investor relations and technology. Attendees will have the opportunity to network with leading industry professionals, learn about new tools and strategies, and engage in one-on-one meetings. The Summit will provide a unique and dynamic platform for attendees to connect with other professionals, establish new relationships, and further their investments in the industry.
For more information about the Sequire Investor Summit, including registration details, please visit the official event website at https://puertorico.srax.com/
ABOUT GEMXX CORPORATION
GEMXX Corporation (OTC: GEMZ; $GEMZ) is a publicly traded, mine-to-market gold, gemstone and jewelry producer with global reach that owns mining resources, production facilities and operating assets. GEMXX controls each stage of its production including gold mining, gemstone production, jewelry manufacturing and global distribution.
GEMXX is a leading producer of top-quality finished ammolite and ammolite jewelry. The Company’s world-class gemstone cutters and jewelry designers are continuously leading the Ammolite industry in new and exciting directions. Our management team is made up of the industry's leading experts with a combined total of 160 years of ammolite gemstone and jewelry business experience.
About SRAX
SRAX Inc. is a financial technology company that unlocks data and insights for publicly traded companies. Through its premier investor intelligence and communications platform, Sequire, companies can track their investors’ behaviors and trends and use those insights to engage current and potential investors across marketing channels. For more information on SRAX, visit srax.com and mysequire.com
SAFE HARBOR STATEMENT
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include, but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our Company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the Company's control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
For more information, please visit: GEMXX Corporation
Signed. /S/ Jay Maull, CEO
GEMXX Corporation
For more information, please contact:
Corporate Communications
Investor Brand Network (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
KRR x 2, RRI, WM
West Australina gold/nickel producer Karora Resources aka KRR released its Q4 production results, and as expected, they were darn good. Q4 production was 40295 oz Au, maeaning total 2023 production of 160492 oz, an increase of 20% from 2022 ans also exceeding the top end of 2023 guidance.
We'll get the all-important financial deatils when the financial Q4 comes out in a month or so.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34537768
Karora Resources aka KRR then released a second PR regarding the signing of a long term Powet Purchase Agreement which will replace diesel generators as the primary power source for their Higginsville operations. This is expected to lead to a 20% decrease in KRR's GHG output by 2030, and is to be followed by more initiatives along the same lines.
As usual, KRR astute management is ahead of the curve on this one. Expect many similar announcemnts to be made by other miners in the coming years.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34538925
Prospect generator Riverside Resources aka RRI prides itself on being well-run, so it is no surprise that their latest PR, laying out their plans for 2024, starts out by reminding us that RRI has over $6M in their cash stash along with no debt or warrant overhang, and fewer than 75M shares outstanding.
This year RRI will continue to expand its presence in Canada, including work on recently-acquired gold and REE prospects in BC and Ontario, as well as searching out new opportunities. They have designated the Pichette Au property in Ontario as their top Canadian prospect at this point. In Mexico, where they have a wide range of prospects, including Ariel (Cu), Union (Au), and Cecilia (Au). Also in Mexico, they are hoping to establish a new strategic alliance with a major BM producer, presumably involving their copper assets. BTW, RRI's assets don't include just properties and personnel; they have also amassed a large portfolio of royalties and another of proprietary databases.
I am considering adding to my RRI holding at current prices. (BTW, one way prospect generators like Riverside can reward investors is by developing and then spinning out their properties as separate listed companies, For instance, Capitan Mining aka CAPT was spun out from RRI a few years ago.)
https://www.siliconinvestor.com/readmsg.aspx?msgid=34538012
Quebec gold developer Wallbridge Mining aka WM released a PR detailing their plans for 2024. They expect to spend about $22M, which will be covered out of their cash stash, currently sitting at about $29M..
At Martiniere, which already has 680k oz Au Indicated and 630k oz Au Inferred, the initial 7500m of drilling in March and April will focus on infill drilling to upgrade Inferred resources, while a further 5500m of drilling planned for Q3 will focus on extending known deposits. As well, metallurgical testing, geomechanics, and hydrogeology will start shortly
At Fenelon, their flagship project, 5000m of drilling and further technical studies will be used to refine the economics outlines in the existing PEA. Both the Martiniere and Fenelon work will be used to develop a new PEA combining both projects.
As well, there will be a further 5000m of exploration drilling on regional targets.
In spite of all their work, WM has not been successful at delivering returns to shareholders for a number of years now. This could be a make or break year for them, and perhaps we will find out whether they really plan to develop the mines themselves or sell them off.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34538933
IKN Brings us a reminder that Wall Street remains uninterested in gold, as the holdings in GLD continue to fall, now down to 863mt, and the price/inventory ratio for GLD reached an all-time low of 4.55. (GLD is an ETF that is Wall Street's preferred method of investing in gold.)
Not a smart move IMO. NILI is woefully undervalued at present; I expect the share price to quadruple at a minimum over the next few years. I am sure GRID can use the money for their own purposes. but they just gave up millions in potential profits.
And I would be VERY careful with GEMZ. The OTCBB exists primarily as a vehicle for insiders to milk unwary investors.
LC
$GEMZ management provided a comprehensive review of all the company's recent developments and progress in a nice update package just last month. I found this quite useful as an overview introduction to the company and its prospects for the coming year.
GEMXX Corporation Provides Corporate Update on Recent Milestones and Expansion Plans for 2024
LAS VEGAS, Dec. 13, 2023 (GLOBE NEWSWIRE) -- via IBN -- GEMXX Corporation (OTC: GEMZ) (“GEMXX” or the “Company”), a leader in the ammolite gemstone mine-to-market segment and a partner in Canadian gold exploration Company Crazy Horse Mining, Inc. (“CHMI” or “Crazy Horse”) today provides the following updates:
Current State
GEMXX has achieved significant milestones recently, and it's worth noting that the Company continues to control each stage of its production, including gold mining, gemstone production, jewelry manufacturing and global distribution. Further, the Company continues to expand while avoiding long-term debt.
Jay Maull, GEMXX CEO, said: "We are tremendously pleased with the development of the Company over the past several months and are extremely excited about the anticipated growth. We look forward to updating shareholders as each milestone below is met. Everything the Company has planned is focused on driving shareholder value."
Recent Milestones
Oct. 24, 2023 -- GEMXX, in partnership with Crazy Horse Mining, Inc. (“CMHI”) completed its third and final clean-out and recording of gold production at the Snow Creek Mine site for the 2023 mining test season, processing a total of 31,200 cubic yards of gold-bearing ore yielding 0.929 ounces per 100 cubic yards. The production results have met all expectations. Read more here.
Oct. 3, 2023 -- The Company engaged Aurora Geosciences to complete S-K 1300 technical reports on assets already owned and operated by the Company. These assets currently have no value assigned to them in the Company’s financials. Read more here.
Sept. 26, 2023 -- GEMXX announced it has signed a binding Letter of Intent (“Proposed Transaction”) to acquire an initial 50% stake in The Yukon Gold Project (“the Property”), pending conclusion of due diligence. The reports provided to GEMXX claim the Property hosts somewhere between 2,210,660 and as much as 4 million ounces of gold. The Company has not verified the historic resource classification or volume but remains optimistic that it speaks to the property’s potential. Read more here.
Sept. 12, 2023 -- To meet the growing demand for its products, GEMXX has planned to expand gemstone and jewelry production by 300% year over year. The Company’s shopping channel division is preparing to supply $5.5 million worth of Ammolite gemstones and jewelry over the next 12 months for Ammolite gemstones in jewelry designs by Kenneth Bradley. Read more here.
July 18, 2023 -- GEMXX announced it has secured 75% of mining costs for both its Gold and Ammolite initiatives. The involvement of new investors and strategic partners further strengthens GEMXX's financial position and supports its growth plan. This includes mine and process facility expansion and increased production to meet global demand for its products. Read more here.
March 14, 2023 -- The Company announced that it has acquired a 50% interest in the Canadian exploration company Crazy Horse Mining Inc. (“CHMI”). Crazy Horse Mining Inc. assets include 100% interest in two gold projects, Snow Creek, and Rosella Creek. Read more here.
March 23, 2023 -- The Company announced that it had signed an Ammolite Master Supply Agreement (“MSA”) with Canadian Ammolite Gems by Kenneth Bradley. Kenneth Bradley is one of the World’s most recognized Ammolite experts and is a Canadian influencer with a global following that continues to grow. Read more here.
Looking Forward – 2024 and Beyond
For the balance of 2023 and into 2024, the Company is focused on expansion and adding shareholder value. That means more acquisitions, more mine production and more revenues.
Targets
Complete the 50% acquisition of the Yukon Gold Property and initiate a pilot mine on that site.
Bring the Ammolite Gemstone mine into full production.
Upscale the gold mine operation at Snow Creek and move the test plant to Rosella Creek.
Complete S-K 1300 compliant resource reports on already owned assets.
Complete audits to be quoted on the OTCQX, which will be the first step to up-listing to the New York Stock Exchange or Nasdaq.
About GEMXX Corporation
GEMXX Corporation (OTC: GEMZ; $GEMZ) is a publicly traded, mine-to-market gold, gemstone and jewelry producer with global reach that owns mining resources, production facilities and operating assets. GEMXX controls each stage of its production including gold mining, gemstone production, jewelry manufacturing and global distribution.
GEMXX is a leading producer of top-quality finished ammolite and ammolite jewelry. The Company’s world-class gemstone cutters and jewelry designers are continuously leading the Ammolite industry in new and exciting directions. Our management team is made up of the industry's leading experts with a combined total of 160 years of ammolite gemstone and jewelry business experience.
About Crazy Horse Mining Inc.
Crazy Horse Mining Inc. is a Canadian Junior resource company with significant gold assets in British Columbia, Canada. In partnership with GEMXX, CHMI aims to unlock the potential of its gold-bearing properties.
About Canadian Ammolite Gems by Kenneth Bradley
Kenneth Bradley is one of the world’s most recognized ammolite experts with a worldwide following that continues to grow. As a Canadian influencer, Kenneth Bradley will host multiple ammolite events annually that feature stunning ammolite gems curated by GEMXX’s world-class gemstone cutters. Bradley has been developing and marketing luxury jewelry for 30 years, making him the perfect host to showcase the stunningly beautiful GEMXX Ammolite gemstones.
Safe Harbor Statement
This press release contains forward-looking statements that can be identified by terminology such as "believes," "expects," "potential," "plans," "suggests," "may," "should," "could," "intends," or similar expressions. Many forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause actual results to be materially different from any future results implied by such statements. These factors include but are not limited to, our ability to continue to enhance our products and systems to address industry changes, our ability to expand our customer base and retain existing customers, our ability to effectively compete in our market segment, the lack of public information on our Company, our ability to raise sufficient capital to fund our business, operations, our ability to continue as a going concern, and a limited public market for our common stock, among other risks. Many factors are difficult to predict accurately and are generally beyond the Company’s control. Forward-looking statements speak only as to the date they are made, and we do not undertake to update forward-looking statements to reflect circumstances or events that occur after the date the forward-looking statements are made.
Signed.
/S/ Jay Maull
For more information, please contact:
Corporate Communications:
InvestorBrandNetwork (IBN)
Los Angeles, California
www.InvestorBrandNetwork.com
310.299.1717 Office
Editor@InvestorBrandNetwork.com
CNC.V/CNIKF...was moving higher then halted 01/11 ~3PM EST.....for news......anyone care to speculate:
1. Additional Private Placement/Investor;
2. 1st Offtake Partner announcement
3. Acquisition
4. Nothing of any significance...lol
EVKRF News:Grid Battery Metals Provides a Financial Update
COQUITLAM, BC / ACCESSWIRE / January 11, 2024 / Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) is pleased to announce that it has recently completed the sale of 100% of its holdings in Surge Battery Metals Inc. ("Surge") (TSXV: NILI)(OTC: NILIF) for total net proceeds of over CAD$5 million to add to the Company's treasury.
Mr. Tim Fernback, Grid President & CEO comments "In 2021, we initiated the process of selling some non-core nickel assets in British Columbia to Surge in exchange for 6 million Surge shares. This transaction has benefited our shareholders immensely, by providing over CAD$5 million in non-dilutive capital to the Company. Currently, Grid has approximately CAD$7.2 million in its treasury, and has fully funded its 2024 exploration season."
Mr. Fernback continues "2024 should be a big year for Grid and its shareholders, as we are planning to spin out and publicly list our BC nickel assets as a separate public company. We plan to continue to develop both lithium and nickel assets with an incredible focus. Our shareholders will benefit from having a proportionate share of this new spin out company, at no additional cost."
About Grid Battery Metals Inc.
Grid Battery Metals Inc. is a Canadian based exploration company whose primary listing is on the TSX Venture Exchange. The Company's maintains a focus on exploration for high value battery metals required for the electric vehicle (EV) market. www.gridbatterymetals.com.
About Texas Springs Property
The Company owns a 100% interest in the Texas Spring Property which consists of mineral lode claims located in Elko County, Nevada. The Property is in the Granite Range southeast of Jackpot, Nevada, about 73 km north-northeast of Wells, Nevada. The target is a lithium clay deposit in volcanic tuff and tuffaceous sediments of the Humbolt Formation.
The Texas Spring property adjoins the southern border of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. ("Surge") (TSXV: NILI)(OTC: NILIF) and comprised of 303 mineral claims. Surge's first round of drilling identified strongly mineralized lithium bearing clays. The average lithium content within all near surface clay zones intersected in the 2022 drilling program, applying a 1000 ppm cut-off, was 3254 ppm. (Press release March 29, 2023). More recent results have shown higher grade lithium up to 8070 ppm on this property after initial drilling (Press release September 12, 2023).
About Clayton Valley Lithium Project
The Company owns a 100% interest in 113 lithium lode and placer claims covering over 640 hectares in Clayton Valley. Clayton Valley is a down-dropped closed basin formed by the Miocene age Great Basin extension and is still active due to movement along the Walker Lane structural zone. As a result, the basin has preserved multiple layers of lithium bearing volcanic ash, resulting from multiple eruptive events over the past 6 million years including eruptions from the 700,000-year-old Long Valley Caldera system and related events. These ash layers are thought to contribute to the lithium brines extracted by Albemarle and are also likely involved in the formation of the exposed lithium rich clay deposits on the east side of Clayton Valley.
Volt Canyon Lithium Property
The Company owns a 100% interest in 80 placer claims covering approximately 635 hectares of alluvial sediments and clays located 122 km northeast of Tonopah, Nevada.
About the British Columbia, Nickel Projects
The Grid Nickel Project consists of three claim blocks with a total area of 5,000 hectares in the area surrounding Mount Sidney Williams, near the Decar project of FPX Nickel Corp., located 100 kilometres northwest of Fort St. James, B.C., in the Omineca mining division. Metallic mineralization includes nickel, cobalt, and chromium, whereby nickel has been recorded in the Fe-Ni alloy awaruite as well as nickel sulphides The Grid Nickel Project are partially underlain by rocks of the Trembleur Ultramafic Unit, which consist of variably serpentinized harzburgite, dunite, orthopyroxenite, and locally carbonate-talc altered rocks and listwanite.
On Behalf of the Board of Directors
"Tim Fernback"
Tim Fernback, President & CEO
Contact Information:
Email: info@gridbatterymetals.com
Phone: 604- 428-5690
Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. This news release may contain forward-looking statements which include, but are not limited to, comments that involve future events and conditions, which are subject to various risks and uncertainties. Except for statements of historical facts, comments that address resource potential, upcoming work programs, geological interpretations, receipt and security of mineral property titles, availability of funds, and others are forward-looking. Forward-looking statements are not guarantees of future performance and actual results may vary materially from those statements. General business conditions are factors that could cause actual results to vary materially from forward-looking statements.
SOURCE: Grid Battery Metals Inc.
View the original press release on accesswire.com
https://www.accesswire.com/823773/grid-battery-metals-provides-a-financial-update
CEE, IAU, IPT
Up till now, Centamin aka CEE's focus in Egypt has been on their producing Sukari gold mine in Egypt, but this has changed with award of three exploration concessions totalling over 3000 sq km in the Eastern Desert.
The recently completed drill programme on the Nugrus block, which adjoins Sukari, identified two major prospects. Little Sukari, 28 km west of the Sukari mine, featured near surface intercepts like 46m at 3.3 g/t Au and 77m at 1.84 g/t Au, while Umm Majal prospect, 23km west of the Sukari mine, featured intercepts like 18m at 2.33 g/t Au and 15m at 1.46 g/t Au from 4m 8m at 2.67 g/t Au, again near surface. The first half of 2024 will feature mapping and sampling and geophysics on and around these two prospects, followed by drilling in H2.
On the Um Rus block, located 50km north of the Sukari mine, analysis of geochemical samples collected last year is underway with results expected this quarter. This will lead to further geophysics and sampling followed by drilling.
On the Najd block, located a further 50km NE, initial sampling is underway, the results of which will be used to define further exploration.
I imagine that any economic ore found in these new blocks will be processed using existing facilities at Sukari, but any such decision will be contingent on further exploration and economic studies.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34531419
Nevada gold miner 1-80 Gold aka IAU issued one of those "Here's what we've done and here's where we're going" updates. I didn't see anything new, but is certainly impressive to see how much they accomplished during a difficult 2023 for miners and what they have planned for the next few years.
Between residual heap leach production and the commencement of mining at Granite Creek, and cash on hand, they are well financed to start producing at multiple mines while bringing multiple mills into operation over the next few years.
The news I am most eager to hear is about the potential partner for Ruby Hill. They've of necessity been coy about the identity of this potential partner, currently carrying out a period of due diligence on the property, but I expect they have deep pockets and will provide resources to speed up development even further.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34531460
We got some interesting news from Impact Silver aka IPT regarding their Plomosas Zn/Pb/Ag mine in Chihuahua, Mexico, which they recently bought and are returning to operation after refurbishment. They have signed a contract with Bell and Tesla to design and build a solar and battery system which is expected to reduce diesel costs by 30-40% along with a 90% decrease in GHG proodcution. I expect to see more and more announcements of this type from miners as the technology continues to improve. BTW, IPT is keeping their diesel generators on site as just in case backup, but expect to have to use them only rarely.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34531629
This board is for discussing junior miners in both base and precious metals. The commodities boom appears to be a longer term issue so these stocks should become more important as investors try to find small companies that are discovering new deposits.
The typical scenario is that the big companies have such high overhead that they can only look for huge deposits. However as commodities rise in price and all producers max out production, the larger players struggle to replace reserves. The junior miners typically fill that role by finding deposits and then selling out to the cash rich bigger players.
My normal investing strategy is to look for profitable stocks with low p/e's. That strategy is difficult with mining stocks because most are not in production or are losing money.
My alternative strategy is to look for miners with near term potential to begin production. Those are the stocks that I will attempt to focus on along with any stocks that are actually profitable.
Bobwins
FAVORITE JUNIOR NICKEL MINERS:
FAVORITE JUNIOR ZINC MINERS:
Zinc prices have underperformed relative to other base metal prices during the commodity boom of 2010-11. There is supposed to be a surplus in supply in the near term but significant shortages could develop over the next few years. Several large zinc mines are slated to run out of reserves during this time period and demand is expected to continue to increase.
FAVORITE JUNIOR COPPER MINERS:
China remains the most important barometer of base metal fortunes. If their economy continues to grow, copper usage and prices will continue to be supported at the current high levels.
Capstone Mining Corp CS.to/CSFFF.pk
F.D. 82.1M, The company is buying back 10% its shares from mid 07-mid 08. Holding ~20m shares of SST.v plus warrants.
Cash cost about 40c copper net byproduct credit, going lower as smelter charges drop in 08 and lead price jumps.
Recently increased its mill output by 120% under budget. Guiding 26 M lb of copper, 11.3M lb of zinc and 4.1M lb of Lead in 08.
New resource update by sep 07.
http://www.capstonemining.com/
QUADRA MINING QUA.to/QADMF.pk
S.O. 38.1M + 3.9M (InterMoly) + 12M (PP, fully allocated)=54M
F.D. 42.6M + 3.9M (InterMoly) + 24M (PP, fully allocated)=70.8M
2007 guidance: 125 M lb copper and 60 K oz gold
Q1 2007 production: 36.6 M lb copper and 31 K oz gold. Cost: ~$1.5/lb
http://www.quadramining.com
Taseko Mines Ltd. (TGB)
S.O. 113.6 M
F.D. 126.4 M
2007 guidance: 60-70M lb copper and 1 M lb of moly. Cost: ~$1.5/lb
Production set to increase to 120 M lb copper and 1.4 M lb of moly in late 2008 and cost will go down to close to US$1.1/lb area.
http://www.tasekomines.com
FAVORITE JUNIOR GOLD MINERS:
FAVORITE JUNIOR SILVER MINERS:
AURCANA AUN.v AUNFF.pk
S.O. 90.4M
F.D. 105.5M
http://www.aurcana.com/
FORTUNA FVI.to FVITF.pk
Profitable mine in Peru has financed much of the development of their new mine in Mexico. Producing over 2million oz of silver now, targeting 5million+ oz in 2013 when new San Jose mine should be at full production capacity.
http://www.fortunasilver.com
SCORPIO MINING SPM.to SMNPF.PK
http://www.scorpiomining.com/
SILVER WHEATON SLW
http://www.silverwheaton.com
Silver Wheaton is the biggest silver streamer. They finance many junior miners by buying future production of silver at fixed prices. The typical price they pay is 3.90/oz. The miner gets needed financing to bring mines into production and SLW gets all or a percentage of their future silver production. Silver Wheaton has financing power that many juniors lack. Now that they have been in business for several years, their initial investment projects are coming into production and raising SLW's production levels. Lower risk way to play silver because of diversification and lack of mining risk. SLW is relatively low overhead. They have a small office staff of finance experts who continue to add deals to the portfolio and production without significantly adding to overhead now and in the future.
FAVORITE JUNIOR URANIUM MINERS:
Worldwide, there are hundreds of nuclear powerplants on the drawing board. The current mining supply is well below current usage. The deficit is being supplied by Russia from deactivated nuclear warheads. That program is going to end in 2013 and Russia has indicated they will retain whatever is remaining of their inventory for their own nuclear powerplant use. As that deadline approaches, there is more and more likelihood that uranium will increase in price.
Strathmore Minerals STM.v STHJF.pk
http://www.strathmoreminerals.com
Near term producer, with two projects being advanced towards production. Strathmore has a JV with Sumitomo to develop Roca Honda in New Mexico and is pursuing licensing for the Gas Hills Project in Wyoming. Strathmore has a large acreage position in the US of prospects that it intends to JV or sell to concentrate on it's core products. These properties were acquired many years ago at very low prices.
Uranerz Energy URZ
http://www.uranerz.com
FAVORITE JUNIOR MOLYBDENUM MINERS:
FAVORITE JUNIOR TUNGSTEN MINERS:
DYNACOR MINES DYN.to MSDRF.PK
http://www.dynacor.com/
FAVORITE JUNIOR LEAD MINERS:
MontyHigh's blog, quite informative: http://montyhigh.typepad.com/world_of_wallstreet/
A Good web site for juniors: http://miningpedia.com/
Volume | |
Day Range: | |
Bid Price | |
Ask Price | |
Last Trade Time: |