Value Microcaps Junior Miners

[Lone Clone]

WM, NRN, KTN, BTO

Wallbridge Mining aka WM released the first set of drill results from its Matiniere gold project, located just to the west of its flagship Fenelon gold project in the Detour-Fenelon gold trend in Quebec. This programme has two objectives, to expand mineralization beyond the current MRE and to test some grassroots exploration targets.

In terms of resource expansion, drill results like 5.15 g/t Au over 4.00m extended the Dragonfly Zone 300m to the east of the MRE, while results like 10.73 g/t Au over 3.00m including 26.50 g/t Au over 1.10m expanded the Southwest Extension by over 250m. In addition, a new target, M3, was defined at depth.

Grassroots drilling within a few km of the MRE was also able to define three grassroots targets for further followup, with assays from another 4 targets pending. Once all the results are on, I expect a revised Resource Report for Martiniere.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34426960

Northern Shield Resources aka NRN released an update on the current small drill programme on its Root & Cellar Au/Ag/Cu/Te prospect in Newfoundland. They are completing the fourth hole, and so far the core looks good, including some visible gold, but no assays yet.

Get back to us when you have some real news...

https://www.siliconinvestor.com/readmsg.aspx?msgid=34428052

Kootenay Silver aka KTN released an update on the ongoing drill programme at its Columbo Ag/Au/Cu/Pb/Zn prospect in Chihuahua, Mexico. Again, we get no assays; rather we are told they are pending but the veining looks good and they are also finding stockwork mineralization. All well and good, but the proof is in the assays of the pudding...

Once this drilling as well on other targets is completed next year, we will get a Resource Report.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34430772

FWIW, after a site tour at B2Gold aka BTO's Back River gold project in Nunavut which is currently under construction, TD issued a new analyst report which called the impact Neutral and kept them at Action List Buy with a target of $9.50. OTOH, in the wake of the same site visit, Scotia called the impact Positive while also maintaining their rating at Sector Outperform and their target of $7.75.

[gold80302]

I've been accumulating the Uranium's for the last year. Last several weeks have been fun. I think its just the beginning. I own $DNN $MGAFF $FCUUF $FDCFF $ANLDF and $PENMF bought last week.

[Bobwins]

Uranium..... will another rally finally come? Uranium has been rallying lately, with spot rising to $65/lb. We are entering the normal season when utilities contract for medium term supplies. There is a guy named Justin Huhn who runs the Uranium Insider newsletter. He posts videos on youtube and I have been following him for the past year. He says that utilities have been taking advantage of old contracts that were done when uranium was under $20. Those contracts included clauses that allowed utilities to upsize the amount of uranium they take by 25% when they are close to delivery. Since U has gone up so much, it's like free money. Obviously this reduces their needs somewhat but it also soaks up any remaining supplies.

He maintains that there isn't much supply left and utilities, especially US utilities, need Uranium fuel after 2027 quite badly. Last time U surged in 2007 I missed most of it and tried a few flyers but was unhappy with the resulting cow pasture miners that I ended up with.

This time, I stuck with the bigger names in Uranium. I have been holding LEU since the 30's and it's now $54.91. They have the contract to build and produce HALEU, which will be used in existing as well as newly designed nuclear reactors. US is woefully short of both U mines and enrichment facilities. Our smart legislators choose to buy enriched fuel from Russia so we don't have any US based plants operating now. LEU will build the first plant in decades.

I recently bought CCJ, Cameco, the second biggest producer of U in the world. CCJ is the best known U stock and will benefit from the recent price rise and any future rallies. I also bought a little URNM, which is a uranium ETF to get some diversification. LEU gets some supplies from the Russians and the market has been worried about that supply evaporating at some point, especially if the WEST puts uranium on the list of Russian items that are sanctioned. They haven't so far because they don't have enough alternative suppliers to make up for Russian sales to US and other utilities.

Bottom line, I believe the time is near when utilities will have to bid against each other for medium/long term Uranium supplies. There aren't many uranium mines in the process of being built due to the low prices over the past 20 years and these mines take a long time to find, permit, finance and build. There was some surplus supply but Sprott has a fund that has been buying up those supplies and holding them. The Chinese are building reactors as fast as they can and Japan is turning it's mothballed reactors back online. Nuclear is truly zero carbon and the world is finding out that getting off fossil fuels is harder than they thought.

[Bobwins]

Uranium..... will another rally finally come? Uranium has been rallying lately, with spot rising to $65/lb. We are entering the normal season when utilities contract for medium term supplies. There is a guy named Justin Huhn who runs the Uranium Insider newsletter. He posts videos on youtube and I have been following him for the past year. He says that utilities have been taking advantage of old contracts that were done when uranium was under $20. Those contracts included clauses that allowed utilities to upsize the amount of uranium they take by 25% when they are close to delivery. Since U has gone up so much, it's like free money. Obviously this reduces their needs somewhat but it also soaks up any remaining supplies.

He maintains that there isn't much supply left and utilities, especially US utilities, need Uranium fuel after 2027 quite badly. Last time U surged in 2007 I missed most of it and tried a few flyers but was unhappy with the resulting cow pasture miners that I ended up with.

This time, I stuck with the bigger names in Uranium. I have been holding LEU since the 30's and it's now $54.91. They have the contract to build and produce HALEU, which will be used in existing as well as newly designed nuclear reactors. US is woefully short of both U mines and enrichment facilities. Our smart legislators choose to buy enriched fuel from Russia so we don't have any US based plants operating now. LEU will build the first plant in decades.

I recently bought CCJ, Cameco, the second biggest producer of U in the world. CCJ is the best known U stock and will benefit from the recent price rise and any future rallies. I also bought a little URNM, which is a uranium ETF to get some diversification. LEU gets some supplies from the Russians and the market has been worried about that supply evaporating at some point, especially if the WEST puts uranium on the list of Russian items that are sanctioned. They haven't so far because they don't have enough alternative suppliers to make up for Russian sales to US and other utilities.

Bottom line, I believe the time is near when utilities will have to bid against each other for medium/long term Uranium supplies. There aren't many uranium mines in the process of being built due to the low prices over the past 20 years and these mines take a long time to find, permit, finance and build. There was some surplus supply but Sprott has a fund that has been buying up those supplies and holding them. The Chinese are building reactors as fast as they can and Japan is turning it's mothballed reactors back online. Nuclear is truly zero carbon and the world is finding out that getting off fossil fuels is harder than they thought.

[Lone Clone]

GOT x 3, ARK, IAU

Yes, Goliath Resources aka GOT has issued yet another PR, the second in 4 days, on the drilling campaign in the Surebet area its Goldigger Au/Ag prospect in BC's Golden Triangle. Once again there are no assays included, and once again they go on and on about 'Visible Gold" in the core, this time frequently festooned with the adjective 'abundant'. I wonder if they should try to patent the term 'Visible Gold' presented in that form. It might help pay for the ridiculous number of PRs they put out.

I won't comment on what they are finding until we get the assays. Actually, this PR does contain some assays, but they are just repeats of various assays that have already been reported.

The clown show continues....

https://www.siliconinvestor.com/readmsg.aspx?msgid=34420789

And then we got news that GOT has closed a $5M PP at or below the current very low market price. Is this another reason besides their bizarre PR strategy that GOT shares have been trading so poorly? All the units, some of which even include partial warrants have been taken up by Crestval Capital, already their largest shareholder at 18%, and by Rob McEwen, both of whom have the financial heft to push down GOT's share price to get themselves a better deal. (For those who don't know McEwen, he has a record at various companies of delivering poor shareholder returns.)

On reflection, I can't help but wonder if current GOT management was also involved in this effort. This is pretty well the last straw for me. I will be looking for a good opportunity to exit GOT. What a shame!

https://ca.finance.yahoo.com/news/rob-mcewen-crescat-capital-strategic-070800355.html

Then a few hours later GOT announced they had increased the size of the PP to $8.6M. No wonder, given it is such a sweetheart deal for those taking part.

https://ca.finance.yahoo.com/news/goliath-increases-private-placement-8-181800504.html

Arras Resources aka ARK released the results of 3 more holes from ongoing drilling at its Beskauga project in Kazakhstan, and the results were interesting in two ways.

First, these holes are a 1 km step out from the main Beskauga resource, and with long intercepts like 570.5m @ 0.27% CuEq (0.23 g/t Au, 0.08% Cu, & 0.42 g/t Ag) including 127.0m @ 0.57 % CuEq (0.49 g/t Au, 0.17% Cu, 0.77 g/t Ag) there is the potential to add significantly to that resource. The key to making this type of deposit work economically is those higher grade intervals, which they have been finding consistently.

The other thing I found interesting is the higher gold assays, e.g. 2.78 g/t Au over 5m. 1.77 g/t Au over 12m, and 1.25 g/t Au over 11m, which again could make a big difference in the economics. They are also finding some Mo which could help.

All that said, it is still far too early in the exploration process to draw any firm conclusions.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34420812

Nevada gold miner i-80 Gold aka IAU announced they have raised another $20M by selling an accordion to Orion Mine Finance. OK, OK, of course not a very expensive musical instrument.. The $20M is being called, using the parlance, a Prepay Accordion. In return for the money, which will be used by IAU to advance the three mines it is developing, will be repaid by delivering 13333 oz Au Au per quarter for 12 quarters starting at the end of March next year. Since they are currently producing over 4000 oz Au per quarter from residual heap leaching, these deliveries should not be a problem.

As well, Orion gets 3.75M warrants with a strike price of $3.75 good for two years, and IAU has applied to extend the maturity of warrants owned by Orion from an early financing.

Compared to the predatory financing by GOT outlined above, this one is practically a gift to IAU shareholders.

https://ca.finance.yahoo.com/news/80-announces-us-20-million-232900924.html

Saville commented on how well the PoG is holding very well considering the 10-year TIPS yield setting a new cycle high. He continues to think that gold stocks are most likely to break upward than downward from the current consolidation.

[Lone Clone]

NRN, BTO x 2, GOT, KRR, OGC x 2

Northern Shield Resources aka NRN has done something really cheesy in their latest PR regarding their Root & Cellar prospect in Newfoundland. The headline says they sampled '26.0 g/t Gold, 27.9 g/t Silver, 185.0 g/t Tellurium, 1.7% Copper', but, believe it or, those values are from separate samples, presented as though they came from the same one! Kinda despicable if you ask me, this reaffirms my desire to get out of this stock altogether as soon as a good opportunity presents itself.

On to the meat of the PR. It presents the results of samples from the Creston Copper and Conquest zones, with the emphasis on the latter. They think what they have found suggests 'that the outcropping mineralization may represent the top of the boiling zone of a low-sulphidation, epithermal, gold-tellurium-silver system'.

To investigate, they have begun a short drill programme of 500m which will let us know if NRN has once again, as is their habit, swung and missed.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34417241

B2Gold aka BTO released an update on the construction of what it is now calling the Goose project in Nunavut, which they acquired by taking over SBB. In general, the news was good, with construction remaining on track in terms of both money and time, aiming for the first gold pour in Q1 2025. They also revised the mine plan, accelerating underground development to increase annual production over the first five years of mine life to 300k oz Au a year. They are also continuing an exploration programme aimed at defining more mineable mineralization.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34419665

BTO also surprised me by announcing they are consolidating 100% ownership of the Gramalote project in Colombia by making $60M in staged payments to former JV partner AngloGold Ashanti. The reason I am surprised, even given the knockdown price, is that BTO is already getting punished by the markets for country risk due to developments in Mali, and given the current anti-mining environment in Colombia, this just makes that worse.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34419675

FWIW, in response to these PRs TD released a new analyst report on BTO calling the impact Neutral and maintaining them at Action List Buy with a target of $9.

Ony 4 days after their last PR, Goliath Resources aka GOT released their 23rd (!!) PR since the start of June. This is one of the cheesier ones, suggesting that because some older holes into their Goldigger prospect in BC's Golden Triangle containing visible gold turned out to actually have high gold values when assayed, this will happen again with their latest unassayed holes. Maybe so, even probably, but definitely not definitely, says I....

This PR does contain some assays, but it also includes much repetition from previous PRs that it's hard to make any meaningful conclusions based on what might be new, so I will just wait for a clearer presentation of what they have found before drawing any conclusions.

GOT is actually trading up a bit today on a down day for PM stocks. I continue to find its trading patterns impenetrable. My greatest hope now is for GOT to get an early buyout!

https://www.siliconinvestor.com/readmsg.aspx?msgid=34419634

Karora Resources aka KRR released another set of excellent drilling results from various gold deposits on its producing Beta Hunt property in Australia.

Their most recent discovery at Beta Hunt was the Mason zone, and it looks more and more like the next source of ore for their mills with assays like 14.7 g/t over 4.0m and 12.2 g/t over 6.0m, plus they extended the strike length by 100m to over 800m.

Infill drilling at Larkin, highlighted by 4.2 g/t over 9.0m and 11.2g/t over 2.7m, at Western Flanks highlighted by 12.0 g/t over 5.1m, and the A Zone highlighted by 17.4 g/t over 2.6m, mean that the upcoming revised Resource Report should see a considerable increase.

In addition, drilling at the high grade Spargos Mine under development extended mineralization by 140 metres to a depth of 580 metres below the surface, including intercepts of 6.0 g/t over 5.0m and 12.8 g/t over 2.1m, and the deposit remains open at depth.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34419681

Oceanagold aka OGC released an update on their Haile gold mine in South Carolina, and it was a bit of a mixed bag.

First, the bad mews. The grade from the lower reaches of the Mill Pit came in lower than expected, resulting in lower than expected production and higher costs. We'll get the full details when they update guidance with their quarterly results release. Meantime, surface mining has moved on to the Ledbetter Pit, which is performing as expected.

The first bit of good news in that underground mining has begun from the Horseshoe Zone. It is expected that underground mining will reach full production around the middle of next year. Horseshoe should be lucrative due to high grade ore, e.g. recent resource conversion drilling included 73.9m @ 13.03 g/t Au.

Even better, exploration at another underground target called Palomino, located not far from Horseshoe, has pulled intersections like 7.5m @ 3.65 g/t Au and 6.3m @ 2.89 g/t Au, leading OGC to indicate that it may become a future source of ore. Expect a Resource Report for Palomino Q4.

And let us hope that their Filipino and New Zealand operations continue to outperform enough to offset the problems at Haile.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34417189

FWIW, in response Scotia released a new analyst report calling the impact Mixed, but on the basis of OGC's overall operations maintained their Sector Outperform rating with a target of $4.25. Meanwhile, Scotia released a new analyst report which came to similar conclusions and maintained OGC at Outperform with a $4.25 target.

As well, OGC announced they have begun trading on the OTCQX market in the US using the symbol OCANF. Time will tell whether this increased exposure to US investors has any overall effect on the share price.

https://ca.finance.yahoo.com/news/oceanagold-begins-trading-otcqx-110000200.html

[Lone Clone]

KRR, ODV, GOT, TUO, IAU

Karora Resources aka KRR released the remaining results from its recently completed infill drill programme into the Fletcher Shear Zone in its Beta Hunt gold/nickel mine in Australia. With headline results like 15.9 g/t Au over 6.0m and 4.8 g/t Au over 32.0m, it looks like Fletcher will join the Western Flanks and A Zones as the third gold production area at Beta Hunt. Even better, with this drilling we now know that Fletcher is located close to both the existing Western Flanks gold resource and existing nickle mining infrastructure, so the new mineralization will be relatively cheap and easy to access.

Another infill drill programme concentrating on the northern portion of Fletcher will begin before the end of the year.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34414442

Osisko Development aka ODV's latest release concerning its Trixie mine in Utah contains some impressive assays, but there are two provisos. First, they are chip samples, which are normally chosen from the most promising areas and hence not representative of the overall deposit, and second, these are narrow intersections. That said, the number are still impressive, e.g. 361.93 g/t Au over 1.10m, and 68.10 g/t Au and 39.10 g/t Ag over 1.68m.

It will require systematic drilling to understand what these sample assays actually mean, with the good news being that construction of the new decline is only 80m away from breaking through to existing workings, which will greatly assist in both drilling and eventual extraction of ore. Once the current drilling is complete, expect a new Resource Report for Trixie.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34414520

Goliath Resources aka GOT issued their umpteenth PR of the summer regarding its Goldigger Au/Ag prospect in BC's Golden Triangle, and this is one of the good ones. It actually contains assays!

And some of the assays are very impressive, e.g. 14.68 g/t AuEq (5.81 g/t Au and 719.13 g/t Ag) over 26.89m (approx. true width), including 23.89 g/t AuEq (9.40 g/t Au and 1176.14 g/t Ag) over 15.49m and 33.02 g/t AuEq (10.97 g/t Au and 1817.34 g/t Ag) over 9.60m. They have been able to define two large zones, Surebet and Bonanza Shear that contain enough metal that it seems likely will be economically mineable. (Note that this is pure speculation on my part; it will require a lot of study to confirm this.)

The market's response to what should be good news is no response, which brings us back, yet again to their poor PRs. Why wasn't last week's assayless PR combined with this one? Not only would the combined PR have packed more punch, it would have saved GOT some money. And again this PR continues innumerable references to visible gold, an indicator virtually meaningless on its own, but now they have taken to capitalizing it, e.g. Visible Gold. It is risible, but I still hold out hope that the quality and extent of the mineralization they are finding will eventually outweigh their terrible PR strategy.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34415732

Blackwolf Copper and Gold completed its buyout of Optimum Ventures. The reason this matters to Teuton Resources aka TUO is that OPV was very focused on its JV with TUO on Harry, a polymetallic prospect in BC's Golden Triangle. Until recently Blackwolf was also a one horse company focused on its Niblack polymetallic deposit just across the border in Alaska. We'll have to see if the new Blackwolf is as willing to use its resources exploring Harry as OPV was.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34415862

I-80 Gold aka IAU released the latest results from its ongoing drill programme at its Ruby Hill project in Nevada, and as usual, they were very good. In terms of Carlin-style Au minerlaization, located under the Archimedes pit, they found 6.9 g/t Au over 50.7m including 8.0 g/t Au over 24.9m at Ruby Deeps and 9.1 g/t Au over 10.2m at Lower Jack. in terms of CRD minerlaization, the headline results included 15.6 % Zn, 8.7 % Pb, 420.4 g/t Ag & 0.6 g/t Au over 40.4m including 20.9 % Zn, 25.1 % Pb, 1.0 g/t Au & 1,221.1 g/t Ag over 11.8m at Blackjack and 15.9 % Zn, 4.3 g/t Au & 284.4 g/t Ag over 7.2m at East Hilltop, along with 10.7 % Zn, 0.4 % Pb, 0.2 g/t Au & 37.0 g/t Ag over 47.9m in the Blackjack Skarn.

All these zones remain open in multiple directions, and recent geophysics has also identified a number of new targets which will also be followed up by future drilling.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34414462

FWIW, in response Scotia issued a new analyst report which saw these drill results as Positive but kept IAU at Sector Outperform with a target of $4.50.

[Lone Clone]

IAU, GOT, RRI, MIRL

McCoy-Cove is one of three Nevada projects being advanced toward production by i-80 Gold aka IAU. The property is already known to contain some of the highest gold grades in North America, emphatically confirmed by the results in this PR from the Gap Zone, with intercepts like 27.0 g/t Au & 9.2 g/t Ag over 8.0m, 10.6 g/t Au & 5.2 g/t Ag over 38.8m, and 11.1 g/t Au & 3.4 g/t Ag over 20.6 m. Drilling has now moved on to the Helen Zone and will continue through early next year.

Once this drill campaign is complete, IAU will produce a new Resource Report and an FBS. Meanwhile they continue to advance permitting and mine planning as well as hydrological research. Meanwhile, the share price has been hit the recent selloff in PMs and related equities and is now at a good level to start or add to a position.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34408335

Sadly, Goliath Resources aka GOT is back to releasing PRs about its Goldigger Au/Ag prospect in BC's Golden Triangle that do not contain assays. That said, they do appear to have found a third shear that appears to contain mineralization that was fed by the Golden Gate Feeder zone. (Unfortunately they have named this new shear the Golden Gate zone, not to be coffused with the Golden Gate Feeder zone.) Although the core contains abundant visible gold, it will require assays before we really know if this is a significant a discovery as it seems.

Meanwhile, GOT is up strongly on a bad day for PMs. I really do not understand the trading in this stock.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34408384

Prospect generator Riverside Resources aka RRI diversified its holdings from its usual base in Mexico a few years ago by acquiring some gold prospects in Ontario. So far this has been a profitable venture, as they sold on some of the properties and retained the ones they like best.

Now they are establishing a foothold in southern BC, just across the border from the Republic District, a well-known gold camp in northern Washington. Elly covers over 107 sq km and according to the company, is s prospective for low sulfidation epithermal style Au/Ag mineralization. Through exploration, RRI has already identified several prospects along the northern extension ofthe Republic Graben, the first named one being Bunch Grass. Mapping and sampling and field exploration continues on the property.

I expect RRI will continue its usual pattern of doing enough exploration to attract a JV partner to pay for further exploration.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34412353

The IKN newsletter brings us two bits of news about Minera IRL aka MIRL. The first item is positive, that in August they sold 1607 oz Au from their Corihuarmi mine in Peru, up from very low levels the month before. Alas, the second item is very negative. Since MIRL have failed to follow through on the deal they made last year with locals around Corihuarmi, a new blockade to cut off the mine is planned for the end of September.

[Lone Clone]

RIO, SVB, KTN, CKG, MAI

Rio2 aka RIO released an FBS for its Fenix gold project in northern Chile, and the numbers look good, with an after tax IRR of 25.8% and a payback period of 2.5 years, with initial capex of $117M (some already spent vs. a discounted NPV of $210M. The construction timeline is 14 months after receipt of permits to produce 91k oz Au for 12 years followed 54k per year for 5 more years.

But of course, the key words in the above paragraph right now are 'after receipt of permits. The current Chilean government started out as anti-mining and managed to delay the granting of permits to a number of mining projects including Fenix. But the government has now divested itself of the anti-mining types, and the new new mining minister has vowed to speed up permitting. The IKN newsletter this weekend also detailed a number of other indicators indicating RIO's permit appeal may happen very soon, and in a much more favourable atmosphere than even 6 months ago.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34405742

We got some interesting news from Silver Bull Resources aka SVB regarding its litigation against the Mexican government regarding its Sierra Mojada project, which has been subject to an illegal blockade for more than four years, keeping SVB from accessing the property. SVB is seeking $178M in damages for what what they are now terming a de facto expropriation of the land due to the Mexican government being unwilling to act against the bloackade.

Most recently, there was a failed mediation effort. Now that the 90-day mediation period has expired, they have hired a leading lawyer in the field to lead their claim, with the best news being that the firm is willing to take on the case on a contingency basis, i.e.their $9.5M fee will come out of any settlement. If these experts are certain enough of the validity of the claim to operate on a contingency basis, I'll take their word for it....

I do find it interesting that the share price has not moved in response. Maybe SVB needs to clarify what they will do with any money they are awarded.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34407065

In June Kootenay Silver aka KTN announced they now owned 100% of the Columba silver prospect in Chinhuahua, Mexico, and then we got two PRs early last month detailing why KTN thinks they can really make something of the property. Now we hear that a new drill programme has commenced.

This campaign will consist of 12-15 holes totalling 3000m, and will focus on extending minerlaization at the D Vein, which already has a horizontal extent of 400m and depth of up to 400m, with the feature intercept being 34.45m downhole length @ 540 g/t Ag with 0.26 g/t Au, 0.37% Pb, and 1.56% Zn.

If this drill campaign is successful, they will drill another 19 holes totalling 7000m, with more exploration on other veins and prospects planned over the next year.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34407093

Chesapeake Gold aka CKG has been working on Metates, a very large but low grade Au/Ag deposit in Durango, Mexico for many years, advancing various scenarios that have failed to catch the attention of the market, Their latest efforts involve speeding up the oxidation of the sulfide materials, something at which they are having some success, according to the results reported in this PR. Next up will be testing cyanide leaching on the oxidized ore, the results of which will be part of a PFBS that CKG will release next year.

Will this approach finally realize the value in Metates? Personally, I doubt it, but maybe higher PM prices will finally do the trick. And then there are the concession problems...

https://www.siliconinvestor.com/readmsg.aspx?msgid=34407139

The IKN newsletter this last weekend ran a very detailed analysis of Minera Alamos aka MAI's Q2 results and came to a similar conclusion as I did. Using simply Santana and ignoring everything else, IKN generated a target of 35 cents. In other words, if you are patient, this is a good time to buy or add to your holdings. I wish I had been paying close enough attention to grab some of those shares that were sold for 26.5 cents last week, though judging by today's trading on a bad day for PM stocks I may get another chance.

Saville, noting that an upward reversal in the gold price has yet to be signalled, has moved his time frame for the PoG to break above the triple top to a new ATH from Q4 to Q1 2023. Consequently, he expects HUI to exceed its 2020 high in H1 2023.

[Lone Clone]

MAI

IMO there is an opportunity right now for the savvy in Minera Alamos aka MAI.

MAI has had a tough 12 months as they developed their first of three planned Mexican gold mines, Santana in Durango, Mexico. A three year drought, now receding, negatively affecting operations because they wasn't enough water for their heap leach to operate as planned. As a result, earlier this year they put off planned ore extraction in favour of development work aimed at future expansion, to the extent that they extracted no ore in January, February, or May, but now are back rapidly increasing production while they wait for permits to expand the heap leach, with construction expected to start before year end. As a result, only 1071 oz Au were sold from the Santana Project in Q2, and gold inventory on the leach pad had dropped to 5446 oz as of June 30, 2023. Both numbers will be much higher in future quarterly reports.

Financially they remain in good share, with a cash stash of $8.2M and over $20M in working capital.

There will be steady news flow this quarter, including a new Resource Report for Snatana, closing the financing package for the construction of Cerro de Oro, the receipt of permits,, and the results of drilling at the Zata and Benjamin exploration targets at Santana. I already have way too much MAI in my portfolio but I am very tempted to use the current low share price to add to my stash. Particularly if gold takes off in the rest of the year as expected, a buy at current prices could be a real winner.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34399827

Saville reminds us that in the current environment, evidence of economic weakness currently is being taken as bullish by both the gold and stock markets, but eventually economic weakness will be bullish for gold and bearish for the stock market

[Lone Clone]

GOT, MIRL, SNAG, BTO

Goliath Resources aka GOT continues its bizarre avalanche of PRs -- 12 since July 5th! -- with yet another that is even more strange than usual. It purports to reveal a whole new set of discoveries on its Goldiger property in BC's Golden Triangle, yet all but one of these 'new' discoveries were announced and detailed in a PR two weeks ago. Yes, there is good news in this PR, as the discovery that is actually new, Treasure House, looks promising, but is it any wonder that the response by the market is to let the share price drift even lower?

https://www.siliconinvestor.com/readmsg.aspx?msgid=34397361

Impact Silver aka IPT released its Q2 results. At their Zacatecas mine in Mexico, tonnage milled was down but grade was up, leading to a decrease in Ag production to 155744 oz. They also tell use that Au and Pb production was up substantially but we only get percentages. Revenue was up but so were costs, and we learn that as usual they made a small loss for the quarter, but thanks to a recently completed PP they are in good final shape with $13.7M cash and no long term debt. Meanwhile, we wait to see whether they can turn their recent purchase of the Plomosas zinc mine north of Zacatecas into a money maker.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34397371

I originally bought a few shares of this company many years ago and had the symbol EST, interested by its focus on silver prospects in Yukon Territory. Then it merged with TCC, changied its name to Allianza Minerals aka AII and started messing around with gold and copper projects in the US. Now, after a rollback, AII has again rebranded, this time to Silver North Minerals aka SNAG, and the focus is back on their Yukon silver prospects. They will be looking to divest or option out the properties in the US.

SNAG has announced that their lead projects will be the two properties that attracted me in the first place.
s
Haldane is a high grade Ag propect located 22km from Hecla's producing Keno silver mine. They have already identified over 12km of vein strike even with limited drilling, and there are numerous exploration targets. Past drill results include 8.72m @ 311 g/t Ag, 0.89% Pb, and 1.13% Zn, 3.14m @ 1351 g/t Ag, 2.43% Pb and 2.91% Zn, and 4.27m @ 363 g/t Ag, 1.73% Pb, and 2.80% Zn.

Tim is another Ag prospect, located 19km from Couer's producing Silvertip mine. Indeed, it is actually located on the access road to Silvertip, so it is no surprise that it is optioned out to Coeur, who can earn up to 80% ownership.

I will watch and wait before adding to my now rather underwater but fortunately rather small holding in SNAG.

(BTW, their symbol makes me chuckle, because the timn community of Snag, located not too far away from SNAG's Yukon properties, is the location of the lowest temperature ever recorded in Canada at -63C.)

https://www.siliconinvestor.com/readmsg.aspx?msgid=34398494

I have often found Dividend Reinvestment Plans or DRIPs a useful part of my investments in large cap stocks, but never in the resource space, where I tend to focus on smaller companies. If I ever decode it is time to buy back into B2Gold aka BTO, I will get the opportunity, because they have announced the institution of a DRIP.

Right now I find BTO's country risk is too high, but if that ever diminishes, the DRIP will be an attractant for me.

https://ca.finance.yahoo.com/news/b2gold-announces-dividend-reinvestment-plan-214000580.html

The IKN newsletter brings us news from the rapidly failing Minera Alamos aka MIRL, and it is not good. Locals around their Corihuarmi mine in Peru have been complaining about pollution around the mine, and the government has launched a tribunal to investigate. And IKN also points out the interesting trading, with 100-lot trades every 10 minutes or so. That is not healthy trading.

[Lone Clone]

OGC, GOT, KRR, WM, IAU

Oceanagold aka OGC released the results from the first 45 holes of the current drilling programme at their Didipio Au/u mine in the Philippines. Some of the drilling is aimed at conversion of Inferred resources into Indicated, and has been successful at confirming historical results. The rest is what they are calling Extensional drilling, aimed at extending mineralization below the current resource, and has also been successful, with the headline assays being 72.0m @ 3.40 g/t AuEq (2.44 g/t Au and 0.69% Cu) at Didipio Deeps and 18.6m @ 4.24 g/t AuEq (2.56 g/t Au and 1.20% Cu) at Eastern Breccia.Note that these results substantially exceed the mineralization levels in the current resource.

The stated goal of this drilling is to allow them to increase production at Didipio by 20%. The resource conversion alone could support that, but the new discoveries, which remain open and will be followed up by further drilling, create opportunities for further production increases. This drill programme is less than half done, and I look forward to more good results.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34394824

Judging by the number of PRs they release, I am beginning to suspect Goliath Resources aka GOT's IR person knows some secrets about the rest of management. ("Spend that money on more PRs or else!!".) In yesterday's roundup I covered their latest 2 PRs, issued three days apart, but it turns out I missed yet another, released the day before the earlier of the two I covered.

To be sure, this one has some good news, with the discovery of four new mineralized zones in the vicinity of the Surebet deposit on GOT's Golddiger prospect in BC's Golden Triangle. Along with the Lower Surebet zone, also discovered recently, the Kahuna zone, which is 2km NE of Surebet, the Outpost zone, 5 km E of Surebet, and the Humdinger zone will be drill tested this year. The other discovery, Full House, 5 km NW of Surebet, will be drilled next year.

Some of these discoveries are even at surface, and GOT is also in the process of identifying numerous other prospects on their extensive landholdings in the area. Now if they can only change their promotional approach so it produces more benefit for shareholders from these exploration successes.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34394859

We already knew that Karora Resources aka KRR had set a new record for gold production from its Australian mines in Q2; now we get to see their Q2 financial results. The first bit of good news is that Q2 cash costs were down substantially at $1068/oz Au. Not surprisingly, revenue and cash flow also increased substantially and they were able to generate net earnings of $6.6M. As a result, they were able to increase their cash stash to $70.8M while remaining debt free in spite of carrying out a large amount of development work across their mines and mills.

KRR maintained it 2024 guidance of substantially increasing both gold and nickel production while reducing costs.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34394888

Wallbridge Mining aka WM's focus this year is on exploring their large landholdings in the Detour-Fenelon gold trend in Quebec. To that end, they just announced an upcoming drill programme on the Grasset Gold property they acquired when they took over Balmoral Resources. In particular they are focusing on a feature called the Grasset East Flexure Target, which covers the central portion of a fold-structure identified from airborne magnetic surveys and a strong flexure in the Sunday Lake Deformation Zone, the primary structure controlling gold deposition along the Detour-Fenelon Gold Trend. Let's hope the planned 5000m of drilling finds something.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34394987

i-80 Gold aka IAU released more drill results from its Ruby Hill polymetallic property in Nevada. While waiting for permits to drill more prospects (since received), these holes were drilled into the Blackjack and East Hilltop zones.

At Blackjack, IAU is using directional directional drilling to target minerlaization under the Archimedes pit, coming up with intersections like 19.4 % Zn, 29.2 g/t Ag and 0.4 g/t Au over 30.4m and 17.8 % Zn, 59.8 g/t Ag and 0.9 g/t Au over 16.4m as well as new zones of CRD minerlaization for whic h assays have not yet been received.At East Hilltop, they found both skarn mineralization with intercepts like 11.6 % Zn & 5.8 g/t Ag over 6.1m and 14.7 % Zn & 3.7 g/t Ag over 4.6m and CRD mineralization like 6.8 % Zn, 3.6 % Pb, 0.9 g/t Au & 136.3 g/t Ag over 9.1m.

In addition, they found a very high grade intersection in the nearby Tycho zone -- 45.4 g/t Au and 50.2 g/t Ag over 17.5m. This will be followed up by more drilling. In addition, after receiving necessary permission they are now drilling in the FAD zone, which extends onto the adjoining property they acquired when they bought out Paycore, so expect more skookum drill results to come.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34395006

[Lone Clone]

TUO. NRN x 2, GOT x 2, RIO

Teuton Resources aka TUO and its JV partners released the results of another five holes drilled to the northeast of the Goldstorm deposit on their Treaty Creek project in BC's Golden Triangle, and once again they have uncovered significant mineralization beyond the current resource, with the headline assays being 516.0m @ 1.19 g/t AuEq (0.89 g/t Au, 2.86 g/t Ag, 0.23 % Cu), with an enriched section measuring 90.0m @ 2.07 g/t AuEq (1.93 g/t Au, 3.55 g/t Ag, 0.09 % Cu). There are eight more completed holes with assays pending, while crews are busy constructing drill pads for next year's drilling programme.

The JV partners have a problem, but it's a good one to have. They can't begin a PEA on Goldstorm until they define the limits of mineralization, but they keep on finding more and more mineralization each time they step out, with Goldstorm remaining open in multiple directions. Once all holes from 2023 are received and released, I expect we will get a revised Resource Report.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34393253

Northern Shield Resources aka NRN has a long history of finding promising signs that amount to nothing, on a variety of properties. Judging by the trading since their later PRs, maybe they are finally on to something.

In their last PR, they told us they were going to dig some trenches in the Conquest Zone on their Root & Cellar Au/Ag/Te/Cu prospect in Newfoundland to look for the source of some large gold-bearing boulders found on the property. Well, the trenches did not find the source of those boulders, but they did manage to come up with grab samples with lots of visible gold. Although their share price doubled in response, I remain skeptical, based on NRN's poor track record, that these were grab samples, and that visible gold means little without assays.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34393508

Less than a week later, NRN released a short PR announcing more trenching in the Conquest Zone, plus a small drill programme that will drill 8 holes totalling approximately 500m in the same area will be carried out in the next month.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34393664

Goliath Resources aka GOT has made little impact with this year's drilling campaign on its Golddigger property in BC's Golden Triangle, largely, I would argue, because of their approach -- releasing PR after PR filled with breathless prose but no assays instead of releasing fewer PRs and using that money to expedite assays.

The latest PR from drilling at the Golden Gate Feeder Zone at Golddiger is a perfect example. With drill results like 23.00m of 21.08 g/t AuEq (18.95 g/t Au and 95.31 g/t Ag) including 14.00m of 33.75 g/t AuEq (30.39 g/t Au and 150.42 g/t Ag) and 9m of 50.27 g/t AuEq or 1.62 oz/t AuEq (45.27 g/t Au and 225.42 g/t Ag), this should have impacted the share price, but, alas, there was little response by Ms. Market.

I continue to hold in the hope that the quality of the deposits they are finding will eventually make up for their poor IR practises.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34393645

I doubt the drill programme just begun at GOT's nearby Luvky Strike prospect will have much effect either, given that it is only 2000m and primarily designed to collection info for a more extensive drill campaign next year.

But I do remain hopeful about Lucky Strike, particularly the Bullseye porphyry Au/Ag/Cu target and the Goldsource breccia target, where grab sampling has found high grade gold. It's still early, but I like the looks of these two targets.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34393544

The IKN newsletter pointed out that the cabinet shuffle in Chile may cause a delay in RIO2 aka RIO's appeal against the denial of permits, but that the new regime is much more pro-mining so this is actually a positive development. IKN also reminded us that at times like this -- sentiment washout plus no volume across junior mining, disdain for fundamentals -- it's buying time.

Saville has been impressed by the PoG's resilience in the fact of the continuing rise in the 10-year TIPS yield, but doesn't think this will last. He continues to anticipate a washout low in the PoG in the next month or so, perhaps as low as $1725, but also has increased the probability that the bottom is already in to 50%.

So wait to make those buys? Your call, but scaling into positions is always prudent.

[Lone Clone]

KRR, GNG, ODV, GOT

Beta Hunt continues to be the gift that keeps on giving for Australian miner Karora Resources aka KRR. The company had already established multiple nickel deposits and two extensive gold zones called the Western Flanks and A Zone. Looking at the latest drilling, it looks like the Fletcher Shear Zone might turn into another extensive gold deposit. Based on drill results like 2.8 g/t Au over 52.0m and 11.8 g/t Au over 2.9m in the main FSZ and 4.7 g/t Au over 11.0m in the footwall, the FSZ noe extends over 500m, with one hole still to drill and four with assays pending from this drilling campaign. Even better, KRR thinks the FSZ will eventually extend to over 2 km. They will also at some point follow up the potential for more nickel deposits above the FSZ.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34376627

One has to wonder what exactly is going on with Golden Goliath Resources aka GNG. They still describe themselves as exploring for gold and silver in Ontario, but... (They also have some PM holdings in Mexico but they never mention those except in passing.)

All we heard about through 2022 and into January 2023 was their Wish Ore Au/Ag prospect in Ontario, but since then, nothing. Then in March in we heard that GNG had acquired an REE prospect in Quebec, and then in June that they had staked three more REE prospects nearby. Then they announced a PP and did a 7 for 1 rollback, and now we hear that they are starting exploration at Manicouagan, which is their collective name for the four REE prospects.

Now the PM prospects are mentioned only in passing, which I am taking to mean they found nothing worthwhile at Wish Ore. One wonders if next we will hear about a name change...

https://www.siliconinvestor.com/readmsg.aspx?msgid=34376677

Osisko Development aka ODV is nothing if not ambitious, as we can see by the release of its Q2 results. First they tell us that they ended the quarter with a cash stash of $86.9M, then in the next sentence that this amount is insufficient to fund their planned activities for the next 12 months, so they are going to need to raise more funds.

Their main focus these days is the Tintic polymetallic project in Utah, where they are advancing a decline in the old Trixie mine which will be completed this quarter. They currently carrying out what they call 'test mining' at Trixie, and did manage to produce 1576 oz Au in Q2, but plan to ramp production up to 500 tpd by upgrading the mill and mine. They are also working on a new Resource Estimate and drilling both underground in the mine as well as exploration drilling elsewhere on the property.

At their Cariboo property in BC, they produced 1010 oz Au by processing ore at a third party's facilities. At this point they are awaiting permits before doing any further development.

At the San Antonio property in Mexico, they produced 1244 oz Au by running stockpiled material through a heap leach. They will finish processing the stockpiles this quarter.

I don't see much sign of the BC and Mexico projects moving forward very quickly, so it is all about Tintic these days, so that is where most of the money will be invested.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34378011

It's a miracle!

Goliath Resources aka GOT actually released a PR concerning drilling on their Golddigger Au/Ag prospect in BC's Golden Triangle that contains actual assays results! For this year's drill campaign!

The assays are pretty darn good. Some of the highlights include 14.85 g/t AuEq (14.66 g/t Au and 11.99 g/t Ag) over 6.00M in the Golden Gate Feeder zone, and 14.01 g/t AuEq (11.39 g/t Au and 148.91 g/t Ag) over 6.09m in the Surebet zone.

However, they do once again go on and on about visible gold in other holes, which is meaningless without supporting assays. And the lack of market response to this PR indicates their strategy of putting out PR filled with breathless prose but without assay results has once again been a failure.

Time for new management at GOT? Certainly time for a new IR strategy...

https://www.siliconinvestor.com/readmsg.aspx?msgid=34379296

Saville continues to opine that we are set for an August bottom in the PoG, but warns that there will probably be a final sharp downward spike before the bottom is set.

[ProfitScout]

$CDSG UPDATE ON CORPORATE ACTION

Las Vegas, NV., Aug. 07, 2023 (GLOBE NEWSWIRE) -- Titan Lithium Inc., (OTC Markets: CDSG) (the "Company" or "CDSG") is pleased to announce that China Dongsheng International Inc (CDSG) on August 5th, 2023, submitted its Form 10-12G to the Securities and Exchange Commission (SEC) to register its common stock under the Securities Exchange Act of 1934, as amended, (the 1934 Act).

The Form 10 filing provides information on the company's strategy and its historical financial data. Upon its effectiveness, the Company will be subject to the reporting requirements of the 1934 Act, which will include quarterly, annual and current reports, as well as proxy statements, to be filed with the SEC.

"We are confident the Company's proposed registration with the SEC will provide a number of benefits to the Company and its shareholders, including greater liquidity for its stock, amplified visibility and enhanced access to the capital markets," said Harp Sangha, Chairman of CDSG. "We believe that through our recent geologic work CDSG has uncovered several top-tier Lithium finds and optimizing corporate effectiveness will allow us to help further our exceptional battery-metal projects."

About the Company: China Dongsheng International Inc. (OTC Markets: CDSG), through its wholly owned subsidiary Titan Lithium Inc., is a lithium explorer and developer.

Contact:

Harp Sangha-Chairman [e-mail]

[phone]

titanlithiuminc.com

Forward-Looking Statements:

This press release may contain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements relating to financial results and plans for future development activities and are thus prospective. Forward-looking statements include all statements that are not statements of historical fact regarding intent, belief or current expectations of the Company, its directors or its officers. Investors are cautioned that any such forward-looking statements are not guarantees of future performance and involve risks and uncertainties, many of which are beyond the Company's ability to control. Actual results may differ materially from those projected in the

forward-looking statements. Among the factors that could cause actual results to differ materially from those indicated in the forward-looking statements are risks and uncertainties associated with the Company's business and finances in general, including the ability to continue and manage its growth, competition, global economic conditions and other factors discussed in detail in the Company'