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$EVKRF News: Grid Battery Metals Announces the Fourth Phase of the Nickel Exploration Program in British Columbia
Click here for news article with full color graphics:
https://finance.yahoo.com/news/grid-battery-metals-announces-fourth-123000119.html
WEX, ARK, EDV, MAI
It's been a disappointing year for investors in Western Exploration aka WEX. It took forever to get the drilling started on the Gravel Creek deposit on their Aura Au/Ag property in Nevada. We finally get assays from the second hole drilled to the east of the Gravel Creek resource, and like the first hole, it did deliver some narrow but high grade intercepts like 0.7m of 143.56 g/t AuEq (138.82 g/t Au and 403.4 g/t Ag), and 1.0m of 67.49 g/t AuEq (52.46 g/t Au and 1278.0 g/t Ag). They have been able to identify two veins up to 200m in length and 5m in width, and have identified a new area for more intensive drilling of 550 by 350m, and it remains open to the northeast.
Future drilling will concentrate of connecting those veins to the existing resource and looking for extensions. Let us hope that these hole happen more quickly than the first two.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34530107
Arras Minerals aka ARK released the results of re-assays on three historical holes drilled into the Quartzite Gorka area of their Elemes license in Kazakstan. (Note: Elemes is not part of the recently announced exploration alliance with TECK.)
All three holes delivered impressive intercepts of prophyry minerlaization, with the best being 132.6m @ 0.80% CuEq or 0.96 g/t AEq (0.39% Cu, 0.52 g/t Au, 4.1 g/t Ag, 59.5 ppm Mo) from 140.7m depth, including 57.1m @ 1.00 % CuEq or 1.20 g/t AuEq (0.85 g/t Au, 0.45 % Cu, 4.8 g/t Ag and 51.0 ppm Mo) from 188.7m depth down-hole. Notably, all three holes delivered higher grade sections.
ARK is interpreting these results as indicating a breccia-hosted intermediate sulfidation epithermal system that forms part of a much larger porphyry-epithermal system within the Elemes licence. which also hosts the Berezki copper-gold and Karagandy-Ozek gold prospects. ARK is currently evaluating the results of these results and their 2023 exploration to design a new exploration strategy for Elemes.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34530161
FWIW, in the wake of last week's dismissal by Endeavour Mining aka EDV of their CEO for seriousm misconduct. BMO issued a new analyst report. Although they emphasized repeatedly that this will not have any financial or operational impact, they still reduced their target from $38 to $34, citing 1) although the BoD acted correctly and promptly in response, EDV's ESG reputation, the best in the sector, has taken a hit; 2) the now-fired CEO had great contacts throughout Africa which may be hard to replace. They did keep EDV shares at Outperform.
The latest issue of IKN offers some intel on a possible reason Minera Alamos aka MAI has been trading strongly of late. MAI has been waiting for a permit to expand their heap leach at the Santana gold mine in Sonora, Mexico, and we get news that the governor of Sonora has been making a concerted effort to speed up the issue of mining permits in his state.
FWIW, TD issued an new report updating their PM price deck. To summarize, they expect a positive 2024 for PMs, with their gold prices increased by an average of 4.4%. They also expect gold miner m&A to be strong in 2024, and are maintaining an Overweight recommendation for the sector.
WM, HMLO, EDV
It look like Wallbridge Mining aka WM is planning to build mines on its gold properties in the Detour Fenelon Trend in Quebec. Their latest PR, besides cleaning up some technical language in the Technical Report for the Fenelon project, announced they have filed a base shelf prospectus allowing them 'to offer from time to time over a 25-month period up to $50 million of equity, debt or certain other securities'. We'll see how well they do on raising these funds, which are just the start for the funds required to build mines at Fenelon and Martiniere.
https://ca.finance.yahoo.com/news/wallbridge-announces-filing-final-shelf-190400752.html
Hemlo Explorers aka HMLO released an encouraging update on their JV with ABX on the Pic gold prospect in Ontario. Barrick can earn an 80% interest over 6 years by doing exploration and completing a PFBS. Another part of the JV requirements is that ABX had to spend a minimum of $800k in the first 12 months, so it is very encouraging that after 13 months they have already spent $2.6M.
So what have they been up to? An intensive programme of till and rock sampling was used to identify three areas of interest. In fact, they were interesting enough that they are already 3 holes into a drill programme designed to test the three locations. Assays are pending.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34526123
Here's some crappy news from West African gold miner Endeavour Mining aka EDV. They have fired their CEO for his involvement in what they are calling ' irregular payment instruction [re] US$5.9 million' in relation to an asset disposal. As well, anonymous allegations were submitted through channels regarding his personal conduct with colleagues. Fortunately they had Ian Cockerill , an industry veteran with an impeccable reputation, on hand to step in and assume the role.
At one point today shares of EDV were down more than 11%, but IMO the effect will be short-lived and this presents a buying opportunity.
https://ca.finance.yahoo.com/news/endeavour-announces-ceo-termination-182100180.html
Saville has reduced the chances of a sustained upside breakout in the PoG this month to near zero due to the continued optimism that the US economy will have a soft landing rather than a recession. He still thinks the breakout will come, but not till later this year.
And just so you know, thanks to the late run after RIO's EIA was approved just before Christmas, I managed to win the Silicon Investor stock picking contest again. The price is a 5oz bar of silver from FR's Mexican mines.
Pick 4 Contest #19 Less Than 6 Hour Away
Remember to get your picks in before Today's Close. Below is the link to the board. Hope this helps.
https://investorshub.advfn.com/Pick-4-Contest-No-19-42580
Pick 4 Contest #19 Deadline Friday (12/29)
Remember to get your picks in before Friday's Close. Below is the link to the board. Hope this helps.
https://investorshub.advfn.com/Pick-4-Contest-No-19-42580
SNAG, CCW, ODV
Silver North Resources aka SNAG announced amendments to their JV agreement with Coeur Mining regarding their Tim Ag/Zn/Pb prospect in Yukon Territory. As a result of delays in getting the exploration permit, the work requirements have been pushed back a year in exchange for a small cash payment. The good news is that drilling will begin this coming year.
The reason Coeur is interested in Tim is that it appears to be a CRD deposit very similar to the high grade Silvertip mine they own just across the BC border. Silvertip is currently not producing while Coeur evaluates a new larger production scenario, and given that Tim is situated right on the road to Silvertip, it could fit in nicely.
Coeur is initially earning 51% interest in Tim by fulfilling exploration requirements, and can extend that to 80% if they complete a feasibility study, announce a production decision by 2026, and pay more cash.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34515237
Canada Cobalt Works aka CCW released one of those year end 'here's what we did' PRs that contains nothing new. Yep, they have a lot going on, way too much for such a tiny company IMO, so I am glad my position is also tiny.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34515258
Osisko Development aka ODV released an exploration update from the Trixie gold mine on its Tintic property in Utah. On the one hand, these include assays from chip samples from development faces along the recently completed drive which opened up multiple new areas for further exploration. As well, there are assays from the remaining drill holes from this year's campaign, which include the narrow high grade intercepts we have come to expect like 8.32 g/t Au and 501.00 g/t Ag over 1.52m as well as 7.46 g/t Au and 301.52 g/t Ag over 2.77m.
Once all assays are in, a new Resource Report for Trixie will be released. Meanwhile, drilling continue at Trixie West, a porphyry Cu/Au target beneath Trixie.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34515320
RIO, CEE, RRI, MIRL
Now we know why the share price of Rio2 aka RIO has been running -- up 60% in a few days. After an appeal they have been awarded the EIA permit for their Fenix gold project in Chile that was denied 18 months ago. Now this crack management team can get back to what they do best, building a mine. Expect a constant a constant news flow in 2024 regarding regarding the rest of the permitting (which should be straightforward in comparison), completion of financing arrangements, and the commencement and progress of construction.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34514246
African gold miner Centamin aka CEE announced an update to its group mineral Resources and Reserves, comprised of the producing Sukari mine in Egypt and the Doropo and ABC Projects in Côte d'Ivoire.
P&P Mineral Reserves increased by 28% compared to 2022, and are now 194Mt @ 1.23g/t containing 7.7Moz Au while M&I Resources and Inferred Resources stayed about the same at 392Mt @ 1.06 g/t containing 13.4M oz Au and 99Mt @ 1.06 g/t containing 3.4M oz Au. respectively.
It is notable that Sukari P&P Reserve itself has increased 10% since the number announced just two months ago along with the revised Life of Mine plan. Between the 285km of drilling at Sukari planned for 2024, the FBS for Doropo being released, and the first assays from the new exploration properties in Egypt's Eastern Desert, I expect another solid increase in CEE's Resources and Reserves this coming year.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34513155
A few years ago drilling pulled some promising intercepts from Riverside Resources aka RRI's Cecilia Au/Ag prospect in Sonora Mexico. The property is essential an extinct volcano that hosts a rhyolite dome analogous to several which host large mines in the neighbourhood.
Now RRI has returned to Cecilia with a sampling programme that has identified several new targets. The largest, Magallanes, has been extended to a strike length of over 800m. RRI has obtained permits and surface agreements for the new prospects, so expect more news flow as exploration proceeds.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34514268
And you may be relieved to hear that I will no longer be moaning about the sad state of Peruvian gold miner Minera IRL aka MIRL.
Today I managed to offload my shares for a loss, but it is worth it just to not be pissed off any more.
I have replaced MIRL in my pf with the Alaskan gold explorer Techtonic Metals aka TECT. Expect to start hearing about them here in future.
$EVKRF: Grid Battery Metals Provides a Year End Update
Wednesday, 20 December 2023
Click here:
https://www.otcmarkets.com/stock/EVKRF/news/Grid-Battery-Metals-Provides-a-Year-End-Update?id=425310
$CDSG Comes to Terms with Noteholder to Decrease Outstanding Balance
Las Vegas, NV., Dec. 19, 2023 (GLOBE NEWSWIRE) -- Titan Lithium Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to announce it has come to a settlement agreement with EROP Enterprises, LLC on their note to issue 9,000,000 free trading shares and 9,000,000 shares restricted for a period of 2 years. This is a 1,600% reduction in convertible shares from 291 million to 18,000,000 shares emphasizing their commitment to the Titan Lithium Project. In the next quarterly filings, it will be reflected that this note has been settled in full.
About the Company: China Dongsheng International Inc. (OTC Markets: CDSG), through its wholly owned subsidiary Titan Lithium, Inc., is a lithium explorer and developer with operations in Nevada, USA and The United Republic of Tanzania.
Contact:
Harp Sangha-Chairman
sanghaharp1964@titanlithiuminc.com
+1-702-595-2247
http://www.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's periodic filings with the Securities and Exchange Commission.
OGC x 2, KTN, IAU, MAI
Oceanagold aka OGC picked the right day to release good drill results from two of their locations. What with gold also having a skookum few days, the shares are currently up over 10% on the day.
At their Haile gold mine gold mine in South Carolina, the ongoing resource conversion programme at Horseshoe Underground continues to pull strong intercepts like 73.8m @ 16.17g/t Au, while a similar drill programme at the nearby Palomino deposit yielded 73.2m @ 4.92g/t Au (including 9.1m @ 9.63g/t Au) in hole DDH1194 and 21.3m @ 6.15g/t Au (including 4.6m @ 16.32g/t Au). Both of these deposits are slated for future underground production, and will be part of an updated Resource Report early next year.
At the Wharekirauponga underground deposit, part of their Wahi gold project on New Zealand's south island and also slated for future production, an ongoing programme of exploration and resource conversion drilling continued to deliver high grade results like 5.0m @ 77.1g/t Au and 111.6g/t Ag and 8.4m @ 42.2g/t Au and 90.7g/t Ag. These results are from the EG Vein Zone, which still remains open in multiple directions.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34508437
Then we heard from OGC that they have replaced their credit facility with a new one that encompasses $200M credit plus a $50M accordion, and they say it is on better terms than the facility it replaces, though no details are given.
https://ca.finance.yahoo.com/news/oceanagold-refinances-revolving-credit-facility-120000474.html
Kootenay Silver aka KTN released the final set of assays from this year's drill programme at their Columba silver prospect in Chihuahua, Mexico, and the D Vein continues to deliver, with intersections like 501 g/t Ag, 0.3% Pb, and 0.7% Zn over 10.26m from 173 meters downhole within a broad 24.26m of 228 g/t Ag. The two holes reported today are located at the southern end of known mineralization.
The D vein remains open in both directions along strike and at depth, which will be followed up by more drilling in the New Year eventually leading to a Resource Report late in 2024.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34508477
Nevada gold miner i-80 Gold aka IAU released the latest results from drilling on the South Pacific Zone on its Granite Creek property. This is an area targeted for mining beginning in the first half of next year, so generating assays like 31.1 g/t Au over 21.9 m, 28.7 g/t over 16.5 m, 37.7 g/t Au over 7.6 m, & 11.9 g/t Au over 21.6 m is a real boost. Mining will begin once underground workings are extended from the Ogee Zone, where mining is currently underway. Even as underground drilling is delivering these impressive results, surface drilling is chipping in with assays like 15.5 g/t Au over 19.7m.
Mineralization from Granite Creek is being processed at Nevada Gold Mines' Twin Creeks facility until upgrades are completed at their own processing facilities.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34508492
For those who want to dig into the details, Minera Alamos aka MAI has filed on Sedar the Technical Report for the recent Mineral Resources on its producing Santana gold property in Sonora, Mexico.
https://ca.finance.yahoo.com/news/minera-alamos-announces-results-annual-213200629.html
$EVKRF News: Grid Battery Metals Announces Soil Sample Results at the Texas Springs Nevada Lithium Project Showing Average Lithium Grades of 2010 ppm
COQUITLAM, BC / ACCESSWIRE / December 14, 2023 / Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) announces the completed soil sample results from the first phase of its fall exploration program at its Texas Springs Property near Elko Nevada.
Background: Grid's Texas Spring Nevada Lithium Property
The Texas Springs Lithium Property adjoins the southern border of the Nevada North Lithium Project - owned by Surge Battery Metals Inc. ("Surge") (TSXV:NILI),(OTCQX:NILIF). 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. On September 12, 2023, Surge announced some exciting results of its most recent drilling program at this property, and recorded its highest grades to date, with up to 8070 ppm Lithium on the Northern Nevada Lithium project. These results were followed up on December 5, 2023 with a subsequent drill program yielding core drilling intercepts with assays over 7,630 ppm and multiple horizons upon deeper drilling performed.
https://www.accesswire.com/imagelibrary/445fc814-1a0b-45fc-9d1c-3ece444842cd/816805/image.png?v=3
Texas Spring Lithium Property Soil Sample Grid
https://www.accesswire.com/imagelibrary/445fc814-1a0b-45fc-9d1c-3ece444842cd/816805/image.png?v=3
https://www.accesswire.com/imagelibrary/445fc814-1a0b-45fc-9d1c-3ece444842cd/816805/image.png?v=3
Tim Fernback, Grid President & CEO comments "Now that the first phase of the exploration program is complete, we plan to gather as a group to interpret the geological data and plan our next steps at Texas Springs for the upcoming 2024 exploration season. We have some encouraging results to discuss, which is great news for our shareholders."
Mr. Seth Cude, P.G., Grid's Qualified Person comments on the results of the program "The soil sampling shows zones of strong lithium concentrations in the northwestern region of the Texas Spring Lithium property which are on trend with strong soil results from Surge Battery Metal's Nevada North Lithium project. In addition, the CSAMT data shows the Texas Spring Property exhibits several near horizontal to gently dipping subsurface horizons which may have served as paleo accumulation basins, collecting lithium bearing clays. This information, combined with the soil assay, will help us propose excellent future drilling targets."
Soil Sample Summary Results (Phase 1 Exploration Plan)
Highlights:
High grade zone in the north of > 1000ppm at lengths of 850 m x 475 m and a second high grade zone to the south of with lengths of 200 x 175 m
Clear high grade lithium zone in the northern portion of the project area is on trend with the high-grade soil samples collected in the Surge property to the north
There are 6 soil samples with Li grades over 3,000 ppm.
A total of 810 samples were collected with values ranging from 10ppm to 5610 ppm
40 samples had grades >= 1000 ppm
Using a 1000 ppm cutoff there was an average of 2010 ppm
https://www.accesswire.com/imagelibrary/445fc814-1a0b-45fc-9d1c-3ece444842cd/816805/image.png?v=3
QA/QC
Duplicate samples were taken approximately 1 in every 20 and showed excellent correlation with the originals with an r2 value of 0.9963 and a difference in average values of 2%. Standards were also inserted approximately 1 in 20 and showed an average variation of 7% with a range of 40ppm.
Sampling Protocols
GPS units with the sample locations loaded were used by the field crew to locate the sample location, and tracks GPS are taken to locate the actual location of the soil sample. Samples were taken from the b horizon and composited and sieved over a depth of 10 to 12 inches, which is standard sampling methodology for soils. Samples were transported and secured by Rangefront from the site and then were transported directly to ALS labs in Elko by Rangefront. The samples were dried and sieved to 180 microns (80 mesh) and assayed using 36 element ME-ICP41 aqua regia analysis.
Tim Fernback, Grid President & CEO comments "Completing both a detailed geophysical survey and soil sampling program is part of a methodical and systematic approach to high quality mineral exploration for claystone lithium deposits in Nevada and will allow us to select drill targets for subsequent exploration programs in the future. "
Qualified Person
Mr. Seth Cude, P.G. is a Qualified Person as defined by National Instrument 43-101 and has approved the technical information contained within this news release.
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. http://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),(OTCQX: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 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.
SOURCE: Grid Battery Metals Inc.
$CDSG News: CDSG RECEIVES MULTIPLE PROPOSALS FOR TITAN PROJECTS FROM LEADING GLOBAL COMPANIES
Las Vegas, NV. , Nov. 22, 2023 (GLOBE NEWSWIRE) -- Titan Lithium Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) a global lithium explorer, is pleased to announce that the Companies' Board of Directors are presently evaluating strategic proposals for future rapid development of the Titan projects in Tanzania.
Due to the uniquely strong Lithium results returned during our exploration, the Company has received several proposals in relation to development of the Titan projects. Both Titan 1 and Titan 2 have attracted a high degree of interest from a number of potential strategic partners, including global industry leaders in the mining industry.
In reviewing the received proposals, the management and Board of Directors of CDSG are deeply committed to both maximizing value for shareholders of the Company, as well as for the communities nearby the projects and for the viability of an actual robust production timeline for these world class projects.
We expect that any potential strategic partner of the Companies will be committed to contribute to the success of CDSG, support the interests of Tanzania and contribute in a major way to the supply chain to major Electric Vehicle markets.
Harp Sangha Chairman of the Board stated, "Titan Lithium is pleased by the strong interest in our projects from industry leaders which shows that even at such an early stage, the Titan projects are a standout and a potential new focal point for Lithium in the global supply chain.
Our strategic review process coincides with discussions with leaders in the Tanzania government as we plan our Phase 2 exploration program that will include a parallel effort to test the production readiness of the projects source materials. All alternatives will be thoroughly considered before any strategic partner is selected or any transaction is agreed upon. We would like to wish our shareholders a Happy Thanksgiving and we look forward to providing additional updates after the holiday.”
About the Company: China Dongsheng International Inc. (OTC Markets: CDSG), through its wholly owned subsidiary Titan Lithium, Inc., is a lithium explorer and developer with operations in Nevada, USA and The United Republic of Tanzania.
Contact:
Harp Sangha-Chairman
sanghaharp1964@gmail.com
+1-702-595-2247
http://www.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's periodic filings with the Securities and Exchange Commission.
https://www.globenewswire.com/newsroom/ti?nf=ODk4MzMyMiM1OTM5NTkzIzUwMDEwMTQ0NA==
https://ml.globenewswire.com/media/YTAxYjU4MDAtOTdkZC00M2YyLThlMTYtNDQ2OTczOWI1OWY0LTUwMDEwMTQ0NA==/tiny/China-Dongsheng-International-.png
Source: China Dongsheng International Inc.
KDK, ARK, KTN
Previous exploration on Kodiak Copper aka KDK's MPD property in south central BC has already defined several large copper/gold porphyries in the northern part of the property. Now we hear about results from the first two holes drilled into the southern part of MPD. Historical drilling had already found mineralization in the Adit and Mid Zones, but the holes in this PR were into the South Zone.
One hole in particular delivered an outstanding intercept of 0.32% CuEq over 234m from bedrock surface, within a broader zone of 0.17% CuEq over 1053m, extending from 9 to 1062 metres downhole. Together, the two holes defined copper mineralization over 900+m of strike to a depth of 775+m. But even more important, this drilling, combined with geophysics and the historic work, suggests that South, Mid, and Adit may be part of one giant porphyry.
Drilling is over for this year so we will have to wait for next year's drilling to confirm that, but in the meantime there are still assays pending from this year's drilling.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34501872
Since they first started working in Kazakhstan in 2021, Arras Minerals aka ARK has assembled and explored a large package of copper/gold prospects, with its landholdings in Kazakhstan being exceeded only by those of Rio Tinto and Fortescue. Now they receive vindication for their strategy with the formation of what ARK is calling a 'strategic alliance' with Teck on some of those properties, totalling 1736 sq km.
It is a complicated agreement, but basically Teck will pay for further exploration plus reimburse ARK for previous expenditures. After the initial phase, Teck will pick four properties and fully fund further exploration to earn up to 75% ownership. If things proceed as envisioned, by that time Teck will have spent more than $50M on the properties. In addition Teck will also have the first option to JV some of ARK's other properties outside the current alliance should ARK decide to follow that route.
Teck has agreed to spend at least $5M exploring the properties by the end of 2025. In the meantime, ARK will continue exploration on the rest of their properties using their own funds. BTW, Teck currently owns 9.9% of ARK's shares via an earlier PP. I would not be surprised to see them eventually buy out the company altogether.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34501903
Kootenay Silver aka KTN released another set of drilling results on the D-Vein area of their Columba prospect in Chihuahua, Mexico. The D vein continues to deliver, with the headline assays including 6m core-length averaging 435 g/t Ag, 0.1% Pb, and 0.2% Zn, and 121m core-length of 60 g/t Ag and 0.1% Zn.
Perhaps the most interesting development is the complexity of the veining they are finding; in fact they are now calling this zone the D-Vein trend. As well, in one of the holes reported in this PR they believe they also encountered the upper level of the E-Vein.
Assays are pending for 2 more holes from this drilling campaign. Further drilling next year will target the D-Vein and other targets in preparation for the generation of an initial Resource Report expected in late 2024.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34501958
I hope you don't have much money invested in that company. It is EXTREMELY speculative and trades on an exchange which does very little to weed out pump and dump artists and similar scamsters.
There are a few good ones, but most OTCBB companies eventually go bust once they have finished milking unwary shareholders of their money. It is prudent to keep OTCBB investments at less than 1% of a properly constructed investment portfolio..
I don't know whether this company is one of those good ones or not. I learned long ago not to bother with OTCBB companies. I am not willing to spend the time to investigate when they are so many other companies with better pedigrees trading on better exchanges.
GLTY
LC
$CDSG: Comprehensive feature on the company's developing story to deliver high value lithium for the global battery tech market used to power electric vehicles.
https://fox59.com/business/press-releases/ein-presswire/671142033/global-firms-competing-for-development-of-high-value-lithium-assets-in-tanzania-titan-cdsg-owns-all-property-rights/
From the article:
> Lithium Mining & Natural Resource Projects in Tanzania and Nevada.
> Completed 2 Years of PCAOB Qualified Year End Financial Statements with
Subsequent SEC Form 10 Filing Being Made for Investor Transparency.
> Multiple Proposals Received for Titan Projects from Leading Global Companies.
> Restructuring Results in No Further Cash Payment Obligations for Tanzania Prospecting Licenses.
>Full Transfer of 100% Interest in the Company’s Tanzania Titan 1 and Titan 2 Prospecting Licenses to the Company Completed in November.
> Strong Lithium Geochemical Sampling Results from Surface Sampling Program at the Company’s Huge Titan 1 Lithium Property in Tanzania.
> Successfully Extended Tanzania Property North Lithium Zone with New High-Grade Samples Including 2.75% LI2O.
> Filed Form 10-12G to Register CDSG Common Stock Under the Securities Exchange Act of 1934.
> Company Set to Benefit from New Economic Initiatives Being Launched Between US and Tanzania.
> WEL Project in Nevada is Comprised of 24 Unpatented Lode Claims.
IAU, TUO, QRC, ODV
i-80 Gold aka IAU released assays for 3 more holes drillied into the Blackjack CRD deposit on its Ruby Hill project in Nevada. Blackjack continues to deliver with the feature intercepts being 10.1% Zinc, 0.3 g/t Gold, 37.0 g/t Silver & 0.6% Lead over 116.3m and 16. % Zinc, 0.5 g/t Gold, 12.4 g/t Silver & 0.1% Lead over 16.1m.
It's not just the intercepts themselves that deserve attention. One of the holes was the first drilled beneath the east side of the Archimedes pit, defining a new area of mineralization which remains open, plus they found high grade skarn mineralization 300m from a previous similar intercept, opening up the possibility that the undrilled area in between might contain more mineralization. The ongoing drilling will investigate these and other targets.
And we also get more detail on IAU's plans regarding Ruby Creek. We learn they have submitted for approval a plan to develop an underground mine at Ruby Hill with the ore being accessed via a ramp from the Archimedes pit. They are planning to start construction in 2024 to provide underground platforms for definition drilling and mining operations.
One thing we don't learn in this PR is the identity of the company that is funding drill operations at the Hilltop deposits as part of an exclusivity agreement designed to lead to a potential JV. Inquiring minds want to know...
https://www.siliconinvestor.com/readmsg.aspx?msgid=34498293
In response, Scotia issued a new analyst report on IAU calling the PR Positive but keeping them at Sector Outperform with a $4.50 target.
Teuton Resources aka TUO announced the initial exploration results from Big Gold, one of a group of 100%-owned contiguous properties located south of Treaty Creek along the Keer-Sulphurets trend that already is known to host five large deposits (including Goldstorm at Treaty Creek). This initial exploration revealed multiple prospects including 2 VMS bodies and a gold vein. (Keep in mind that these are grab samples.)
The Roman Zone, which is still emerging from under melting glaciers, yielded a sample assaying 57.1 g/t Ag, 12.10% Pb, 9.32% Zn, and 0.72% Cu, while the Zali MVS occurrence yielded a sample assaying 4.2% Zn, 0.14% Cu and, 13.2 g/t Ag. In addition, a quartz vein yielded a sample assaying 27.7 g/t Au, 6,240 g/t Ag, 1.5% Cu, 6.4% Pb, and 3.1% Zn.
The geologists think this VMS mineralization is similar to that that gave rise to world class mines in the Golden Triangle like the Eskay Creek and Anyox VMS deposits , and also Goldstorm's recent Orion discovery 5 km to the north. Expect to hear a lot more about exploration on this and the adjacent 100%-owned properties, which TUO has collectively dubbed Luxor.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34500788
Queen's Road Capital aka QRC's goal is to generate income by investing in convertible debentures in mining companies. Today things took an interesting turn when QRC disclosed they had invested in $30M in debentures not in a mining company but in a royalty company, Gold Royalty Corp, which trades as GROY on the NYSE. GROY is growing, so this seems like a good investment even though it will be financed entirely by debt. Watch for the details on that debt to make the final evaluation.
https://ca.finance.yahoo.com/news/queens-road-capital-announces-us-124500742.html
So far most of the news we have heard from Osisko Development aka ODV regarding its Tintic property in Utah has had to do with the ongoing efforts to bring the Trixie gold mine back into production. But Tintic also contains a number of other targets, and now we hear that exploration is underway on one of the most promising, Big Hill.
Two deep holes being drilled at Big Hill are looking for the Cu/Au/Mo poryphyry that provided the source material for the property's Au/Ag deposits like Trixie. To me, two holes seems like not a lot, but I presume they will extend drilling if they find what they are looking for.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34500835
Writing before Monday's big drop in the PoG, Saville noted that the PoG had just had its highest ever monthly and weekly closes, but that there would likely be a 2- to 4-week correction before the real breakout occurs. Point to Saville....
EDV, MAI, NRN
It looks like West African gold miner Endeavour Mining aka EDV has developed another top rank asset with the Tanda-Iguala deposit in Côte d’Ivoire. Since the initial discovery in 2021, EDV has completed 226km of drilling, including 163km so far this year, and now they have released an updated Resource Report declaring an Indicated resource of 4.5M oz Au at 1.97 g/t plus an inferred resource of 200k oz at 1.91 g/t Au. Huge upside potential remains with the main mineralized trend remaining open at depth and along strike. There are also multiple promising exploration targets elsewhere on the property. Drilling continues.
EDV also announced that a PFBS is underway for Tanda-Iguala with completion scheduled for late 2024. Given that the mineralization begins at surface so conventional open pit mining looks the best, that metallurgical testwork looks good, and that the infrastructure includes nearby paved highway and grid power, I expect Tanda-Iguala economic studies to show numbers worthy of a flagship asset.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34493971
In response, several brokerages issued new analyst reports. Although the updated resource increased BMO's NAV estimate for EDV by 5%, they kept EDV at Outperform with a $38 target. Likewise, Scotia saw the impact as Positive, noting Tanda-Iguala reduces the proportion of EDV's assets in troubled Burkina Faso, but kept them at Sector Outperform with a target of $41.
When Mexican gold miner Minera Alamos aka MAI's share price took off earlier this week, I expected that it meant they would shortly be announcing they have finally received permits to expand the heap leach at their producing Santana gold mine. But when MAI's quarterlies were released, it turns out that they are still waiting for those permits from a bureaucracy that has markedly slowed operations since Mexican President AMLO started in with his anti-mining statements. MAI does mentions that they are no longer receiving requests from the bureaucracy for more information, but I am not sure whether that is a positive development or not.
As to the rest of the quarterlies, I would say they are as expected. We already knew that production would be low due to water access problems earlier this year -- it came in a 636 oz Au -- and that although mining rates increased back towards normal in Q3, it takes time for the heap leach to process the ore into gold. MAI also mentions that they would like to increase production at Santana, but again, it's the permits.
Even as they start serious construction at their next mine Cerro de Oror, they remain in solid financial shape, with a cash stash of over $6.5M and working capital of almost $20M. Now we wait t0 hear about the remaining permits for Cerro de Oror, expected in Q1.
Meanwhile, the mystery of why MAI's share price suddenly took off with big volume remains. My best guess is a recommendation from a newsletter.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34494027
Northern Shield Resources aka NRN released the results of a short drilling programme of shallow holes on the Conquest zone of its Root & Cellar Au/Ag/Cu prospect in Newfoundland.. They did manage to come up with a few promising intercepts like 1.5m @ 10.4 g.t, 1.0m @ 5.1 g/t, and 2.0m @ 5.7 g/t Au. And as we have come to expect from this crew, they have a new geological theory. They now think the Conquest zone might be on the periphery of a large collapsed caldera, a geological feature which can host large deposits. (But don't hold your breath; they are good at coming up with theories that so far have not panned out.)
Further trenching is now underway. Drilling will resume in February to follow the assays mentioned above down to a presumed feeder zone, to test several other nearby anomalies, and to further test the collapsed caldera theory.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34494079
$EVKRF high profile exposure: Resource World Magazine Profiles Grid Battery Metals
COQUITLAM, BC / ACCESSWIRE / October 18, 2023 / Grid Battery Metals Inc. (the "Company" or "Grid Battery") (TSXV:CELL)(OTCQB:EVKRF)(FRA:NMK2) announces that Resource World Magazine Inc., a respected industry news writer and editorial author, has profiled Grid Battery Metals Inc. in its latest issue.
The article and corporate profile can be found by accessing the following weblink, Resource World Article. https://resourceworld.com/grid-battery-metals-is-staged-for-success-at-is-explores-for-lithium-in-nevada/
The article includes commentary by Grid's CEO Mr. Tim Fernback, a discussion of Grid's current lithium exploration programs in Nevada and the Company's proposal to spin out its BC Nickel property subsidiary to the Canadian Securities Exchange ("CSE") as a future publicly traded company, offering a future share dividend to Grid's shareholders at no addition cost.
About Research World Magazine Inc.
For over twenty years, Resource World Magazine has been reporting on the business of mining, oil & gas, green technologies and the events that affect these sectors. Resource World has become a staple periodical within the natural resource community, providing timely editorial relevant to resource stock investors, brokers, analysts and the people with boots on the ground. Formerly a monthly print publication for eighteen years, Resource World successfully transitioned over to the digital world and is now at the forefront of producing daily relevant editorial for thousands of readers.
Founded in 2002 by mining technologist and Haileybury School of Mines graduate Ellsworth Dickson whose editorial objective was to inform readers of timely investment opportunities, educate readers and offer rich, interesting fact-based content. Early in his career he worked in the geology departments of a silver-cobalt and copper mine as well as in structural geology for an engineering company. Mr. Dickson became a mining journalist in 1983 and was editor of World Investment News in the late 1980s and the George Cross Newsletter in the 1990s.
The Resource World editorial team consists of seasoned writers specializing in mining, oil & gas, economics, foreign affairs and come from a variety of occupations and positions including geologists, engineers, professors, economists and investment advisors from leading brokerage firms. Our writers cover junior mining companies, oil & gas, area plays, precious metals, rare earth, battery metals and critical minerals almost on a daily basis with nearly two hundred editorial pieces published per month. It is our commitment to deliver a source for resource-based editorial with integrity.
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. http://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),(OTCQX: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 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.
SOURCE: Grid Battery Metals Inc.
View source version on accesswire.com:
https://www.accesswire.com/793988/resource-world-magazine-profiles-grid-battery-metals
Thanks Lone Clone for the info about TUO.
NOVR, TUO, CCW
It's getting near the end for Nova Royalties aka NOVR. Their shareholders have voted in favour of the takeoeover by MTA. Expect the transaction to close soon.
https://ca.finance.yahoo.com/news/nova-announces-shareholder-approval-arrangement-220000511.html
Wondering why Teuton Resources aka TUO is up big today? Look no further than the release of more drilling results from the Treaty Creek property in BC's Golden Triangle, owned by TUO and two JV partners. This release contains results from only two and a half holes -- one was a wedge from a hole that failed due to ground conditions -- but contains some real doozies.
The holes were once again in the northeast quadrant of the enormous Goldstorm deposit.
Hole GS-23-177 included both long intercepts -- 517.5m @ 1.01 g/t AuEq -- but also two high grade sections of the type that improve the economics of mine development -- 82.5m of 1.92 g/t AuEq within 311.5m of 1.04 g/t AuEq plus 19.50m of 5.70 g/t AuEq (5.41 g/t Au, 1.09 g/t Ag, 0.24% Cu).
The wedge hole was even more impressive, yielding 273.75m of 2.19 g/t AuEq (1.98 g/t Au, 3.30 g/t Ag, 0.15 % Cu) that includes an enriched central core that averaged 3.51 g/t AuEq (3.23 g/t Au, 5.57 g/t Ag, 0.19 % Cu) over 123.0m. But even better, an intercept of 15.0m of 15.64 g/t AuEq (14.89 g/t Au, 4.72 g/t Ag, 0.60 % Cu) appears to correspond to a similar zone found in an earlier hole 135m to the west.
The geologists are now thinking that this represents a later mineralization event that overpinted the existing Cu/Au porphyry with a discrete high-grade gold-dominant quartz stockwork system. If they are correct, and they can increase the size of this overprint, that will be a huge benefits to the economics of any potential mine.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34491434
Canada Silver Cabalt aka CCW continues to add to its stable of properties in Quebec, which now totals over 32k hectares over 14 properties. The latest addition is Lac Guay, a 2335-ha prospect located 5km north of CCW's Lowney-Lac Edouard property. Lac Guay is also 50km north of a suite of past-producing polymetallic mines, and past sampling has found evidence of both PM and BM mineralization. Initial exploration will begin in the spring.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34491387
Saville opines that copper will likely start a dive to around $3.20 before year end as news of a US recession kicks in. This has me contemplating selling at least some of my ARG shares after the coming ex-dividend date in the hopes of reloading lower later.
$EVKRF $276 Billion EV Battery Market:
Soaring Battery Metal Demand Sets the Stage for Little-Known Explorer's Recent Acquisition in Lithium's "Silicon Valley"
Click here:
https://metalsmarketreaders.com/soaring-battery-metal-demand/?utm_source=corporateads&utm_medium=affiliate&utm_campaign=evkrf_us&utm_id=evkrf_us
TUO x 2, KTN, BTO
Today we get two pieces of news involving Teuton Resources aka TUO regarding its JV with TUD and AMK on the Treaty Creek property in BC's Golden Triangle.
The first one is harder to evaluate. Last time I reported on a PR from SEA regarding the overlap between SEA's License of Occupation vs. part of TUD's mineral claims that make up Treaty Creek. SEA's PR regarding a recent decision by the BC Ministry responsible, which they interpreted as saying thatthey could go ahead and build a tunnel through TUD's claims. Now we hear from TUD that this is not true at all, that according to the ruling and further interactions with the Ministry that SEA has no right to build that tunnel and interfere with TUD's mineral claim.
It seems on the face of it that TUD is in the right, but I am no lawyer. I will leave it for you to read the full text of the various PRs and decide fir yourself. As stuffbug pointd out, SEA had its license of Occupation before TUD got its mineral before TUD applied for the mineral tenure.
It does seem that the best possible outcome would be for the partied to enter into negotiation and come to a mutual agreement alowing SEA to build the tunnel in return for benfits to TUD and its JV partners. Or maybe SEA could just plain buy Treaty Creek and settle the kerfuffle once and for all...
https://www.siliconinvestor.com/readmsg.aspx?msgid=34486007
It is much easier to evaluate the other TUO NR, which contains another set of drill results from Treaty Creek This release is very positive.
Two more stepout holes to the northeast of Goldtorm found more very high levels of gold, e.g. 10.07 g/t AuEq over 12.0m within the uppermost portion of the 223.5m of 1.42 g/t AuEq. The higher grade stockwork section appears to correspond to a similar find hundreds of metres to the southeast, raising the possibility that these high grade stockworks might extend those hundreds of metres. Finding a high grade starter zone near surface like this one can be the key to make the construction of a mine economically viable.
These two holes also found other long intervals of mineralization, as did several holes drilled into the Perfectstorm zone. Both deposits remain open in multiple directions.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34486002
Kootenay Silver aka KTN released assays from 3 more holes drilled along the D Vein at its Columba silver prospect in Chihuahua, Mexico. They continue to hit mineralization in every hole, with the feature intercept being 29m core-length @ 208 g/t silver, 0.21% lead, and 0.46% zinc including 9.67m of 510 g/t silver, 0.2 gpt gold, 0.5% lead, and 1.0% zinc; also including 2.37m of 1,142 g/t silver, 0.1 g/t gold, 0.9% lead, and 2.5% zinc. Even better, they are starting to find additional veins flanking the main D Vein. Drill will continue, leading to an initial Resource Report next year.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34486043
B2Gold aka BTO released several sets of drill results from its Back River project in Nunavut. The first set consists of infill drilling within the Goose deposit, currently under construction as a mine, confirming and in some cases exceeding the grades and lengths expected from the existing Resource Report.
Another set of drilling was able to extend the Llama deposit several hundred metres down plunge with intercepts like 7.79 g/t Au over 22.00m, including a higher grade interval of 11.22 g/t over 14.40m. In addition, drilling at the George deposit, 50km northwest of Goose, further extended mineralization with intercepts like 19.17 g/t gold over 7.5m close to surface.
Drilling continues at all these sites and will in future include other prospects in the are.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34486100
TUO, IAU, CCW, HMLO, WHE, KRR, IPT
Seabridge Mining released some negative news for Teuton Resources aka TUO and its JV partners on the Treaty Creek project in BC's Golden Triangle. It's too complicated to explain fully here, but basically SEA and Tudor Gold have been fighting over the rights to portion of land that Tudor thought it has staked but that SEA swooped in grabbed, Tudor Gold had applied for SEA to lose their License of Occupation, but today it was announced that the attempt was rejected by the BC Ministry responsible. This is important because that stretch of land was vital for the development path the JV partners had developed for Treaty Creek. I guess it is back to the drawing board, unless TUD and SEA can negotiate some kind of deal.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34484038
i-80 Gold aka IAU released another set of drilling results from its McCoy Cove gold project, one of three Nevada mines IAU is currently bringing into production. McCoy Cove already has a reputation for high grades, which will be further enhanced by the initial results from the Helen zone, like 25.4 g/t Au over 20.1m, 28.0 g/t Au over 10.4m, and 21.0 g/t Au over 10.8m. Even better, these first drill holes are located at the western extent of Helen, so we can expect even juicier intercepts as drilling moves into the core of the deposit.
In addition, drilling in the CSD/Gap zone generated more positive intercepts like 15.7 g/t Au & 16.8 g/t Ag over 4.5m, 7.6 g/t Au & 2.0 g/t Ag over 12.2m, and 21.8 g/t Au & 4.8 g/t Ag over 10.3m. There are still 12 holes for which assays are pending, as well as approximately 80 more holes planned. In the meantime, IAu continues environmental baseline testing necessary to receive permits. As well, we can expect an updated Resource Report and an PFBS next year
https://www.siliconinvestor.com/readmsg.aspx?msgid=34484053
In response, Scotia released a new analysts report on IAU. They called the impact Positive, noting particularly how Helen is shaping up, but kept them at Sector Outperform with a target of $4.50.
Earlier this year, Canada Silver Cobalt Works aka CCW undertook a stripping programme at the Miller Lake area of this their Castle Mine property near Cobalt, Ontario. They were able to find some promising gold showings at surface, which will now be followed up by a short drill programme designed to investigate the surface gold as well as extending the holes deeper to look for silver mineralization, as the 'gold on top, silver below' pattern is common at Castle.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34484968
Hemlo Explorers aka HMLO released the results of a seven hole drill programme along the western side of their Project Idaho property in Ontario, where they are looking for mineralization similar to that found at the nearby Marathon Cu/Pd deposits being developed into a mine by GENM. They did find many instances of similar geology but alas, the assays are reported in ppm. That said, they are already planning for followup exploration next year, which they hope will yield more meaningful Cu/Pd and Cu/Ni/PGM intercepts.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34485049
The seemingly endless wait for drilling to get underway at Western Exploration aka WEX's Aura Gold/silver project in Nevada is over at last, as we finally get some assay results from a hole designed at a 250m step out from the Gravel Creek deposit. Fortunately the results are very good, as they found multiple intercepts of high grade mineralization like 4.7 m of 9.20 g/t AuEq (4.55 g/t Au and 395.4 g/t Ag) and 2.0m of 21.96 g/t AuEq (12.77 g/t Au and 780.9 g/t Ag). Even better, the mineralization is at the same level as that already found at Gravel Creek, raiding the possibility of continuous mineralization all the way from Gravel Creek.
As a result, even before getting the assays from the remaining hole, they are organized for further exploration of this new mineralized corridor. Myself, I am just glad that I only took a small initial position, because the extended delays really cratered the share price. I may add at some point.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34485079
Australian gold and nickel miner Karora Resources aka KRR released updated Resource reports on a number of their projects. They were able to add 249koz Au, an increase of 18%, to their M&I Resources now 1.8M oz Au net of mining depletion, while also increasing the grade by 8%. They were also able to increase their P&P Reserves by 6% to 575k oz Au.
This last year's drilling also increased KRR's nickel resource to 22.3kt Ni @ 2.9% plus an Inferred Resource of 13.4Kt @ 2.7%.
As KRR comments, these latest mineral inventories significantly increase mine life, and given their multi-year record of consistently increasing Resources and Reserves above and beyond mining depletion, I expect this growth to continue in coming years.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34485143
Mexican miner Imapct Silver aka IPT released their Q3 results, a mixed bag. On the one hand, revenues from their operations at Zacualpan were up 26% over Q3 last year, but costs were up almost as much, meaning yet another quarter around break even, primarily thanks to them being able to sequence mining to increase Au production (along with the usual Ag and Pb). Also during Q3, they restarted production after doing upgrades at the recently acquired Plomosas Zn mine, and continue to project it becoming profitable as they increase production.
IPT remains in good financial shape, with a cash stash of $8.9M and no debt. Now we wait to see whether the recent initiatives and easing of foreign exchange rates and inflation in Mexico have a positive effect.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34485188
Of late, Saville has been focused on the inverse relationship between the PoG and the US 10-year TIPS yield. In his latest newsletter, he refines that relationship a bit, showing that over the last few years, it is not necessary for the TIPS yield to decline for the PoG to increase. Rather, as long as gold's fundamentals are supportive, all that is needed is for the TIPs yield not to go up. In fact, he goes a bit further and opines that all we will need for gold to make new ATHs next year is for the TIPS yield to stay below the high of 2.50% high it made on October 6th.
$CDSG ANNOUNCES RESTRUCTURING OF EARN-IN AGREEMENT FOR 100% INTEREST IN THE TITAN 1 AND 2 MINERAL LICENSES IN TANZANIA
Las Vegas, NV., Nov. 20, 2023 (GLOBE NEWSWIRE) -- Titan Lithium Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) as a result of the restructuring, the Company has no further cash payment obligations for 100% ownership of the Titan 1 and Titan 2 Prospecting Licenses and that all claims to Net Smelter Return (“NSR”) holdings have been relinquished.
The restructuring will result in a $6,275,000 reduction in payments and potential ownership of NSRs for the Company on the projects.
“The Titan Lithium Projects are proving to be world class standouts in both size and grade,” commented Craig Alford, CEO, and a Qualified Person under 43-101. “Gaining full ownership of the projects is an enormous step forward for the Company and its shareholders.”
Both licenses are now available to be viewed on the company’s website on the "About Us" tab.
About the Company: China Dongsheng International Inc. (OTC Markets: CDSG), through its wholly owned subsidiary Titan Lithium, Inc., is a lithium explorer and developer with operations in Nevada, USA and The United Republic of Tanzania.
Contact:
Harp Sangha-Chairman
sanghaharp1964@gmail.com
+1-702-595-2247
http://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's periodic filings with the Securities and Exchange Commission.
https://www.globenewswire.com/newsroom/ti?nf=ODk4MjM1OCM1OTM2OTgxIzUwMDEwMTQ0NA==
https://ml.globenewswire.com/media/YjNjYjU0YjYtOTIyOS00MTMxLWFkYWItNjBjMTQ5NDQ2NTk3LTUwMDEwMTQ0NA==/tiny/China-Dongsheng-International-.png
Source: China Dongsheng International Inc.
$CDSG Titian Lithium, Inc. is carving out a unique space to meet the United States’ growing demand for lithium. Lithium carbonate is a critical component of lithium-ion batteries, which are highly coveted for electric vehicles and devices.
As a Nevada-based lithium explorer and developer, CDSG Lithium’s principal activity is advancing its lithium project adjacent to the TLC project in Nye County, Nevada. The company maintains a dual focus on acquiring and developing opportunities in the natural resource sector and complementary technologies.
Learn more here:
https://titanlithiuminc.com/about-us/
$CDSG ANNOUNCES TRANSFER OF PROSPECTING LICENSES IN TANZANIA
Las Vegas, NV., Nov. 17, 2023 (GLOBE NEWSWIRE) -- Titan Lithium Inc., (OTC Markets: CDSG) (the “Company” or “CDSG”) is pleased to announce it has completed the full transfer of 100% interest in the Titan 1 and Titan 2 Prospecting Licenses in Tanzania into the Company’s’ Kilimanjaro Lithium Ltd (“KLL”) subsidiary.
Mineral rights in Tanzania are held under a number of types of licenses granted under the country’s comprehensive Mining Act. Exploration projects are held by a Prospecting License (“PL”) which allows the holder to conduct a wide range of exploration work until such a time as a mining license is required for exploitation.
The vendor completed the transfer of 100% of the two Prospecting Licenses for Titan 1 and Titan 2, PL 12353/2023 and PL 12338/2023, into KLL on November 14, 2023. The Prospecting Licenses that were transferred were duly recorded pursuant to section 123(1) of the Mining Act in the central register on November 16, 2023. The licenses will be available to view on the company’s website on the “About Us” tab .
These two PLs are considered prospective to the discovery of sediment hosted lithium style mineralization within a country rich in mineral resources. Tanzania is endowed with many types of minerals including gold, iron ore, nickel, copper, cobalt, gemstones, industrial minerals as well as rare earth minerals.
Tanzania is the fourth largest gold producer in Africa and home to advanced critical mineral projects such graphite, lithium and the high-grade nickel-copper-cobalt Kabanga deposit. Earlier this year, under a Presidential plan to fast track such deposits, Tanzania signed agreements worth $667 million for graphite and rare earth projects with several Australian Mining firms. As well, in February 2023, EV maker Tesla signed an agreement under which it will purchase between 17,500 to 35,000 tons per annum of Anode Active Material (AAM) from a producer in Tanzania
“Working closely with the vendor we are very pleased to have the licenses fully transferred”, commented Chairman Harp Sangha. “Our next steps will include the commencement of work that will include a strategic drill campaign designed to produce a maiden mineral resource that we hope will elevate the projects significantly.”
About the Company: China Dongsheng International Inc. (OTC Markets: CDSG), through its wholly owned subsidiary Titan Lithium, Inc., is a lithium explorer and developer with operations in Nevada, USA, and The United Republic of Tanzania.
Contact:
Harp Sangha-Chairman
Sanghaharp1964@gmail.com
+1-702-595-2247
http://www.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 the 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's periodic filings with the Securities and Exchange Commission.
Thanks for your view of this situation. I hope to live that long.
KRR, EDV, WM
Australina gold/nickel miner Karora Resources aka KRR announced its Q3 financial results. We already knew production was down slightly from Q2 to 39548 oz Au due to less ore mined and processed, and now we know costs were also down slightly to $1062/oz Au, and that they would have been even lower if they had sold the nickel they mined during the quarter. (It is still in inventory awaiting a future sale.)
In spite of adding to their mining fleet and completing a new ventilation raise, both to allow them to increase production significantly next year, they managed to add $13M to their cash stash, leaving it at $84M at quarter's end, so they are well-funded to deliver that increase in production. In addition, I am starting to wonder if that cash balance might lead to a transaction either as acquirer or target.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34475166
In response to last week's Q3 results release by Endeavour Mining aka EDV, BMO issued a new analyst report detailing a number of positives, esp. the earnings beat and growth pipeline, as well as likely meeting 2023 guidance, but kept EDV at Outperform with a target of $38.
Having already declared a large resource at its flagship Fenelon gold project in Quebec, this year Wallbridge Mining aka WM has been focused on regional exploration on other targets in the area. Their latest PR details the results of initial exploration at Grasset Gold, located about 15km east of Fenelon. They are pretty excited about what they have found so far, increasing the drill programme from 5km to 10.5k halfway through the very first hole. based on what they had seen in the core.
So far they have been able to establish gold mineralization over about 1km strike length, with intercepts like 3.20 g/t Au over 2.50m within a wider interval of 1.22 g/t Au over 8.50 m, and 4.36 g/t Au over 0.95m at a depth of just over 100m. Further assays are pending and drilling is ongoing.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34477316
In this weekend's newsletter, Saville took on something that is being discussed a lot of late, the naked shorting that is supposed to be suppressing speculative gold stocks traded in Canada. He compares the performance over the last five years of the SPXV Composite Index (largely made up of gold juniors) with that of the Australian Emerging Gold Producers Index and the Australian Junior Gold Explorers Index over the same time period. Even though rules against naked shorting are rigidly enforced in Australia but not so much in Canada, the performances of the three indices are virtually identical.
He opines that rather, the poor performance of gold juniors in both Australia and Canada over the last five years is caused the lack of speculative interest by the general public in what are generally illiquid sticks.Hence, he suggests sticking to the larger producers, the type that hedge funds keep liquid, until gold and the gold mining stocks break out to new ATHs, likely in the first half of next year.
I do find his line of argument re naked shorting persuasive, but I am going to ignore his advice and continue accumulating shares in smaller producers and developers while I wait for those breakouts.
You've got to figure that whatever transaction eventually happens regarding Treaty Creek will consume TUO, TUD, and AMK and spit out at least three, maybe more companies containing the rest of their assets. I don't follow AMK very closely but TUD and TUO have already taken steps which will make such a transaction easier to complete. You have to wonder is SEA will also get swept up in the deal-making.
How many years will it take? At least a few more, IMO.
LC
Actually I am heavily into American Creek and Tudor Gold. I had some TUO and like to keep up.
IAU, KDK, ODV, EDVm BTO
Out of the blue, Nevada gold miner/developer i-80 Gold aka IAU surprised me with the announcement of a potential JV on one of their flagship properties, Ruby Hill, which contains a number of old mines and untapped deposits, both with CRD (Zn/Pb/Ag/Au) and various types of gold mienralization. Since IAU acquired it, they have made a number of new discoveries, both Au and especially CRD, and acquired Paycore to get their hands on where the CRD minerlaization extends.
At this point we don't get much information on the potential deal, presumably because any agreement is subject to further DD by the other party. We get no details about any terms of a JV, and all we get re the other party is that they are 'an arm's length third party'.
My best guess before reading that last quote was that the potential partner is Nevada Gold Mines, a JV between Newmont and Barrick with whom IAU has done a number of deals, but I don't see how NGM fits that description.
So we'll just have to wait and see about any details, and it would be premature to pass judgment before we hear those details.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34472365
Kodiak Resources aka KDK has already defined two large copper-gold porphyries, Gate and West, on its MPD property in south central BC, Now, with the relase of assays from the first two holes into the Main zone, it looks like they have discovered a third.
One hole, drilled vertically, found several zones of mineralization between 30m depth and a kilometre down, including 0.25% Cu, 0.23 g/t Au and 0.70 g/t Ag (0.34% CuEq) over 75m, within a broader interval of 0.14% Cu, 0.08 g/t Au and 0.41 g/t Ag (0.17% CuEq) over 324m.
The other hole, angled towards an IP signature, found mineralization from 29M to 924M depth, including 0.34% Cu, 0.28 g/t Au & 1.71 g/t Ag (0.45% CuEq) over 116m within 0.17% Cu, 0.17 g/t Au and 0.86 g/t Ag (0.24% CuEq) over 337m. I was very pleased to see the hole also found a PM-rich zone that included 0.09% Cu, 0.43 g/t Au and 0.77 g/t Ag (0.30% CuEq) over 60m.
To the uninformed, these assay results may not seem very high, but there are several mines operating profitably in the area with similar deposits. The key for KDK is to define a sufficiently-sized set of porphyries, ideally with higher grade starter zones, and KDK is well along that path, not that you would know it from the share price.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34473245
Osisko Development aka ODV released their Q3 results. At this stage in the development of the company, when they are focused on exploration and building mines are not generating much income from mining, you know they are going to be losing money, so the key questions are how much they are losing, how long the losses will go on, and whether they have enough money left to complete development.
ODV is generating a bit of income. Between their Trixie gold mine in Utah, the San Antonio tailings processing in Mexico, and their Cariboo Gold project in BC, they sold 3867 oz Au, but the $10.4M in revenues was almost offset by $10.1M cost of sales. Hence it is good they have plenty of money on hand, $71.5M at the end of Q3, to fund further development and make necessary payments.
ODV is planning to increase production at Trixie to 500 tpd, but first they need to get the remaining assays form this year's drilling, followed by a revised Resource Report, as well as infrastructure upgrades. They don't give a timeline but I would estimate two years.
At the Cariboo project, they anticipate receiving all permits by Q2 next year, but are vague about what happens next. For both Trixie and Cariboo, there will be a lot of detailed engineering work, and both properties contain multiple deposits, sometime with different mineralization, so careful planning and sequencing of mine development will be a must.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34474242
West African gold producer Endeavour Mining aka EDV released its Q3 results, and they were very good. Gold production increased to 281k oz, while cash costs decreased, an unusual development for a big miner these days, to $848/oz Au. Net earnings of $60M meant that in spite of spending $143M on mine building and exploration, $100M on dividends, and $20M on share buybacks, they still had $625M in cash at the end of the quarter.
With several new mines coming on line next year, I expect EDV to continue to generate bigger numbers in the future. If the POG takes off in 2024 as expected, next year could be a good one for EDV shareholders.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34474316
B2Gold aka BTO released its Q3 results, and they were, well, kind of boring. Production came in slightly below expectations at 225k oz Au due to some temporary operational issues, but this was offset by cash costs also coming in below expectations at $827/oz Au. At this point they are actually expecting 2023 cash costs to come in below guidance. They generated enough free cash flow that in spite of the costs associated with building a new mine at Back River in Nunavut, they ended the quarter with a healthy $310M cash stash.
At this point the main uncertainty affecting BTO is the coming decree expected to be released shortly by Mali. They don't expect it to affect their flagship Fekola mine, but it may affect the nearby deposits they are planning to develop.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34474280
In response, TD issued a new analyst report calling the release Neutral, maintaining BTO at Action List Buy with a target of $9. Likewise, BMO's updated analyst report kept them at Outperform with a target of $7.50.
Saville opines that the gold mining sector completed a correction within an ongoing bull market in September, but that there will be 'gut-wrenching' corrections along the way as the rally continues next year. In the short term, the POG is balancing positive input from the decline in the 10-year TIPS yield versus the inevitable unwinding of the short term effects from the current situation in the Middle East.
It's become a long slog with TUO, which I consider criminally undervalued at this point. I did sell a few shares over $4, but clearly not enough. My biggest fear now is that a lowball offer comes in and takes the prize. My biggest hope is that when the POG does finally take off next year it will move TUO back out of 'criminally undervalued' to at least just plain undervalued before the takeover happens.
I bought my shares for just over 20 cents apiece e so I am sitting pretty in any case, but it was a lot prettier at higher prices...
P.S. Thanks for letting me know at least one person reads my updates.
LC
Thanks for posting your comments on TUO
TUO, IAU
Teuton Resources aka TUO and its JV partners have released another set of drill results from this year's programme at the Treaty Creek Au/Au/Cu property in BC's Golden Triangle. This time we get results from six holes drilled at the Perfectstorm zone, located about 2km from the Goldstorm deposit, where they have already declared a resource of over 21M oz AuEq (which will grow as the result of this year's drilling).
This new about Perfectstorm is very exciting. By orienting the drilling differently, they have found mineralization which appears to represent part of another large Au/Ag/Cu porphyry with higher grade Au/Ag overprinting. Given that the six holes cover a distance of over 1500m, Perfectstorm has the potential to become very large.
I invite you to read through the PR carefully, particularly the words of normally reserved Ken Konkin of Tudor Gold as he lays out what they have found. The market hasn't reacted yet, for some reason.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34466660
Nevada gold miner i-80 Gold aka IAU released its Q3 operating results. Most of IAU's efforts are currently directed towards developing the mines they will be bringing into production over the next few years, but we are already starting to see increased production.
Residual leaching at Lone Tree and Ruby Hill produced 4585 oz Au, up slightly from Q2, but IAU also started producing and selling ore from Granite Creek, shipping refractory ore to a third party for processing -- this will be brought in house once the upgrades to the Lone Tree facility are complete -- and selling over 16kt of oxidized ore for $4.5M.
In spite of the costs of the ongoing exploration and development work at multiple sites, they remain in solid financial condition with a cash stash of over $82M, albeit $44M of it restricted for now.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34467960
Saville reminds us that there is still about $100 left of the "Gaza effect' on the gold price, which will certainly be unwound by the end of the year. That said, the fundamentals for gold are improving, with the 10-year US TIPS yield having declined from its high of 2.52% to 2.32%, and more signs that the markets are starting to expect a recession rather than a soft landing.
MAI, KRR, TUO, RIO
At long last Minera Alamos aka MAI has received signoff on the financing needed to develop its next Mexican gold mine, called Cerro de Oro. We've known the details for months, but the problem was getting the lawyers to sign off. I am not surprised to learn that it was the Mexican lawyer that held things up...
MAI has already drawn down $5M from the financing, which will be used for advance work as they await the permits for construction, expected in Q1.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34464450
And from IKN we get news that it appears the permit for the pad expansion on MAI's producing gold mine, Santana, seems to be caught up in a general permitting slowdown, driven by the AMLO government, for all open pit projects across Mexico. It is fortunate that MAI management has been so prudent in their financial planning that they can weather this delay without undue harm.
When a company is generating cash and thinks its shares are undervalued, they often embark on a share buyback programme. Australian gold and nickel miner Karora Resources aka KRR clearly thinks they fall into this category, as they have announced they are renewing their normal course issuer bid, which will allow them to buy and cancel up to 8,886,939 of the shares currently trading on the TSX. Personally, I also think KRR is undervalued, but I hope they don't get to buy many shares back at a discount price because the market has finally recognized their true value.
https://ca.finance.yahoo.com/news/karora-resources-renews-normal-course-114500178.html
When I heard that BWCG was buying out OPV, I wondered what effect it would have on the JV OPV had with Teuton Resources aka TUO on the Harry prospect in BC's Golden Triangle. OPV had been very gung ho, agreeing to an extensive work programme and cash payments in return for earning 80% of the JV.
Well, now we know that BWCG will also be a good partner for TUO on Harry, taking on the JV obligations with gusto. Indeed, they are already announcing a new discovery on the property. Here's how excited they are; they are calling the assays 'the most exceptional intercepts in the Golden Triangle in recent times'.
That may be a little hyperbolic, but the intercepts from the Swann Zone, which include 29,098 g/t AgEq (312 g/t Au and 101 g/t Ag) over 1.0m, and 25,862 g/t AgEq (277 g/t Au and118 g/t Ag) over 1.0m, are certainly very impressive, with the minerlization style, very high grade Au/Ag veins, being reminiscent of what is being mined not far away at NEM's Brucejack Mine. Assays from other sections of the two discovery holes as well complete assays for six other holes at Swann are still pending. Let us hope they have found more high grade veins.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34465411
Also from IKN, we hear that the appeal by Rio2 aka RIO regarding its permit for developing the Fenix gold mine in Chile did not get a slot in the October meeting of the appeal board. Hope it gets into either the Novemeber or December meetings.
OGC, CEE
We already knew Q3 was going to be tough for Oceanagold aka OGC due to mine sequencing at Halle in the US and mill repairs at Macraes in New Zealand, and now we get the numbers. In Q3 OGC produced 99028 oz Au, due to lower amounts milled plus lower grades, as well as 3413t Cu. Gold production was down 24% from Q2, and cash costs rose from $725/oz Au in Q2 to $1003 in Q3. All that said, they are still on track to meet the lower end of guidance for 2023, and with mill repairs completed and underground mining having begun at Haile, Q4 looks like it will be strong.
As a result of these operational issues, OGC posted a small loss in Q3, but in spite of repaying $15M in debt and a dividend during the quarter, they remain in good shape financially with $60.3M cash vs. debt of $135M, lots of room on the credit line, and a return to strong cash generation ahead.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34460743
FWIW, in the wake of these quarterlies BMO issued a new analyst report noting that Q3 was weak as expected but, expecting a strong rebound in Q4/Q1 they kept OGC at Outperform with a target of $4.25.
Also, in the wake of last week's release by Centamin aka CEE of an updated Life of Mine Plan for their Sukari property in Egypt, BMO released a new analyst report raising CEE from Market Perform to Outperform and raised their target from $C2.05 to $2.36, citing the increased attractiveness of the asset plus further upside possibilities.
Saville points out how strong the price of gold has been in the face of the US 10-year TIPS yield making a new 14-year high. However, he does opine that all the recent gains in the PoG, largely the result of politics and war, will be given back before year end, and that only when the TIPS yield starts to decline will it break out to a new ATH, likely during the first half of next year. Such a move is being presaged by gold making new highs in lesser currencies like the Euro.
CEE, IPT, GOT
African gold miner Centamin aka CEE released its Q3 results, and in spite of a few problems, overall they were positive. The main issue was with the SAG unit at their Sukari gold mine in Egypt. They decided to shut down the mill for a few weeks to do some preventive maintenance, meaning Q3 production was down to 101370 oz Au. It would have been lower except that they were able to process some high grade stockpiles to make up enough of the deficit to keep them on track to meet 2023 guidance.
And reflecting their new operational flexibility, costs rose only slightly to $882/oz in Q3, again setting them up to meet 2023 guidance. In spite of generating free cash flow of over $12M, their cash stash dropped to $125.7M, but with no debt they remain in a strong financial position, which will only get better as the new mining plan for Sukari is executed.
They also continued exploration and development work during the quarter. They continue to drill up other deposits on the Sukari concession with an eye to future production, and they began a drill programme on the recently awarded Nugrus block, which adjoins Sukari, with assays expected Q4. They also continued drilling at the Doropo project in Côte d'Ivoire, for which an FBS is expected in June.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34453235
Impact Silver aka IPT announced they have restarted production at their Plomosas Zn/Pb/Ag mine in Chihuahua, Mexico. They acquired the property six months ago from the previous owner who had recently stopped production. In the intervening time IPT has rehabilitated and upgraded both the mill and the mining equipment. They also brought in new staff who were able to deliver the upgrades on time and on budget. Next up is increasing production to 200tpd in Q1, after which we will hear about plans to increase production further.
Perhaps I am over-reading the tea leaves, but I found it interesting that the CEO's comments referred to their silver mines nearby at Zacualpan as 'legacy' assets. Does this signal the new management team will be looking to move on from them.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34457175
I am sure some of you are sick of reading my complaints about Goliath Resources aka GOT for being so poorly run. This folks will be glad to know I finally decided to take my loss and sell my shares. I used the money to take advantage of the fire sale and buy more shares of NILI.
KDK, GOT, NRN, RIO
Kodiak Copper aka KDK has already defined one large copper/gold porphyry called the Gate Zone on their MPD prospect in south central BC. Now, with the release of 5 holes drilled into the West Zone, it looks like they are on to another. They attribute this discovery 'through application of a Cadia-Ridgeway or Red Chris “style” exploration model, where mineralized zones occur near high-angle structural controls and changes in geology, exhibiting “chimney-like” geometries visible in geophysical surveys, and with significant grade and depth extent'.
Using that model, the five holes found three distinct styles of mineralization. First there is shallow high grade mineralization, e.g. 1.17% Cu (1.26% CuEq) over 39m within 0.33% Cu (0.39% CuEq) over 198m, starting at only 33m from surface, plus 049% Cu (0.58% CuEq) over 254m within 0.21% Cu (0.27% CuEq) over 941m starting at bedrock surface. This style of mineralization remains open in multiple directions.
These two holes also defined a new style of mineralization in the West Zone KDK calls 'high-energy, mineralized hydrothermal breccia at depth'. This zone has been extended to 185m at strike and remains open in all directions.
Thirdly, two of the holes had to be abandoned due to ground conditions but they still found a gold-rich zone with intercepts of 0.04% Cu and 4.54 g/t Au over 6m from 48m depth in one hole and 0.12% Cu and 2.08 g/t Au over 4m from 71m in the other.
These and older drill results at the West Zone have confirmed porphyry mineralization over an area of 300m by 650m, and from surface to depths of 962m, still open open to extension. KDK still has yet to receive many of the assays from this year's drilling, so I hope that using this new approach will define new porphyries on MPD.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34450856
Goiliath Resources aka GOT just can't seem to stop shooting themselves in the foot. Their latest PR on their Golddigger prospect in BC's Golden Triangle has a headline that appears to contain great news, trumpeting an outstanding intercept of 34.03 g/t AuEq Over 9m. The problem is that the result is from the Golden Gate zone. Even though they have been talking about Golden Gate for months, it has suddenlly become "Newly Discovered". Hey, when there is a chance to over-promote, who cares about accuracy?
Was this a deliberate attempt to deceive or just incompetence? Who can tell? In any case it reinforces my desire to sell my shares, but unfortunately even this outstanding intercept hasn't kept the share price from dropping to new lows, IMO the result of that incompetence/perfidy plus tax loss selling and the very underpriced PP to insiders they just closed.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34450904
Northern Shield Resources aka NRN announced they have completed an 8-hole scout drill campaign on the Conquest Zone located on their Root & Cellar Au/Ag/Cu prospect in Newfoundland. Alas, we get no assays, just lists of promising looking rocks in the core plus a few (meaningless without supporting assays) instances of visible gold in the core.
Regardless of what the assays tell us, they are already talking about more drilling.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34450919
Kootenay Silver aka KTN released assays from its first three holes on the latest drilling campaign at its Columba project in Chihuahua, Mexico. These holes were 50m stepouts along the D Vein and found some promising results such as 13.56m @ 599 g/t Ag, 0.5% Pb, and 1.2% Zn from 182.94m downhole including 8m @ 858 g/t Ag, 0.78% Pb, and 1.88% Zn plus 1m of 2,060 g/t Ag, 3.2% Pb, and 4.29% Zn.
The drill progrmme continues to step out along the D Vein after which they will explore other targets, eventually leading to an initial Resource Report next year.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34450952
Rio2 aka RIO has announced a new technical report of its Fenix gold project in Chile will be made available today. I don't expect any surprises.
https://ca.finance.yahoo.com/news/rio2-limited-files-technical-report-171600658.html
ODV, CEE, QRC, GOT, SVB
Osisko Development aka ODV released the latest drill results from the Trixie Au/Ag mine on its Tintic property in Utah.
First we hear about 17 more holes from the now completed infill and exploration drilling in and around the MRE. (Assays for 21 more holes are still pending.) ODV continues to pull useful intercepts like 14.85 g/t Au and 34.87 g/t Ag over 5.49m including 27.02 g/t Au and 25.70 g/t Ag over 1.83m, and 22.54 g/t Au and 2,301.00 g/t Ag over 0.46m. These will not only add to the upcoming revised Resource Report but also assist in further understanding the complex geology on the site.
But another hole, currently underway, may in the end be nore important. Tintic is located 65 km from Rio Tinto's giant Brigham Canyon Cu/Au/Mo mine, and ODV's geologists think they have found indications as to the locations of a similar porphyry under Trixie that could be the source for the mineralization. Hence, they are drilling a long hole in the hopes of intercepting that porphyry. Depending on what they come up with, this could be a game changer for Tintic and for ODV.
They also told us they are waiting for permits to drill two large lithocaps on Tintic in the Big Hill and Silver Pass areas.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34445679
Since new management took over African gold miner Centamin aka CEE a few years ago, they have been steadily improving performance at its producing asset, the Sukari gold mine in Egypt. Now comes the keystone of those efforts, a revised life of mine plan that is a distinct improvement over what had been in place. The new approach promises production of more than 500k oz Au per year at an AISC of less than $1000/oz. This will achieved by a combination of a substantial improvement in the strip ratio for the open pit, increased underground mining rates, connection to Egypt's national power grid, expanding their existing solar generation,and improving gold recoveries by adding a gravity circuit to the mill. In addition, CEE thinks they can substantially extend the current 11-year mine life by utilizing other deposits on the Sukaro property.
Based on how successful new management has been so far at implementing its initiatives, I have no doubt it will successfully implement the new mine plan.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34445714
The last Resource Estimate Kootenay Silver aka KTN released for their Promontorio project in Sonora, Mexico dates back to 2013. In the intervening years KTN discovered and drilled up a new deposit on the property called La Negra, so it is no surprise that the numbers in the revised Resource Report they just released are much bigger. Perhaps most importantly, the grades for Au, Ag, Pb, and Zn are all increased by between 21% and 24%, so along with increased tonnages this means a lot more contained metal.
Promontorio and La Negra combined now contain almost 120M oz Ag M&I plus over 28M Inferred, and if you include the other metals the M&I totals over 214M oz AgEq, with the inferred number at 54.9M oz AgEq.
Previously KTN had said that they would proceed to a PEA after this Resource Report was released, but there is no mention of this in this news release. One presumes they will be trying to attract a partner to deep pockets to JV the development of Promontorio. At one point they had such a partner, but they eventually dropped the option. Perhaps the new numbers, particularly the higher grades, may do the trick.
KTN also announced they are undertaking a 1 for 10 share rollback that will get the number of shares outstanding back under 50M. You never know what effect these rollbacks will have over the longer term though.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34445783
Queen's Road Capital aka QRC announced they have increased their annual dividend by 12% to $C0.019 per share. Te review, QRC is essentially a vehicle for several Aussie mining billionaires, and its job is to generate dividends for them by issuing convertible debentures to mining companies, using the interest to pay for the dividends. We can expect a substantial dividend increase next year, as during 2023 they increased their debenture portfolio by 66%, which means they expect the 2024 gross annual income to increase by over 40% from 2023.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34449784
Goliath Resources aka GOT announced that they have completed this year's drill programme in the Surebet zone on their Golddigger Au/Ag prospect in BC's Golden Triangle. They also claim it's was a success. I guess that depends on how you measure success.
Yes, they almost doubled the number of metres they had planned to drill, but assays for almost half those holes are still pending, a consistent problem with this crew, who are more interested in putting out as many news releases as possible than paying to get the assays done quickly.
Claiming success before you get half the assays is ludicrous.
Yes, their recent very underpriced PP was successful in giving a huge financial windfall to insider Rib McEwen and Crestval Capital, but that was done at the expense of the rest of the shareholders. That makes it a failure in my books
But perhaps the best measure of success, or in this case failure, is that in spite of all that and an avalanche of NRs, drilling the share price is down almost 50% from a year ago. I put much of the blame on their ludicrous -- yes, that word again -- news releases, which just kept coming (and costing money) in spite of the fact that most of them contained no assays. Rather, they were filled with repetition from previous NRs which appear designed to confuse unwary investors.
Another signal of the problems with this com[any is that they appear to think a meaningless indicator like visible gold in the core is more important than the actual assays, another sign they are trying to fool investors.
I sure hope the share price reaches my sell point soon, so I can say goodbye to GOT unless they get new more competent management.
https://ca.finance.yahoo.com/news/goliath-completes-over-34-000-100800341.html
When I first came across the headline for Silver Bull aka SVB's latest PR it was partially obscured so all I could see was 'Silver Bull Announces Execution of Key Persons'. Things seemed to have taken a sinister turn indeed!
But once you see the whole headline and read the PR you realize that it announces an agreement that hands over 12% of any settlement to six people who are deemed to have made substantial contributions to the effort to get reparations under NAFTA from Mexico because they failed to act to restore SVB's access to their Sierra Mojada property in Coahuilla.
You know the lawyers are going to get a substantial amount of the settlement too. I hope there is some left over for us punters...
https://ca.finance.yahoo.com/news/silver-bull-announces-execution-key-231300608.html
Saville reminds us that the PoG's response to news events like what is currently going on in the Middle East is always temporary, and that any gains (or losses)are always eventually given back as the fundamentals reassert themselves.
ODV, EDV, HMLO, KRR, GOT
Of late, the news we have been getting from Osisko Development aka ODV has been all about exploration on its Tintic project in Utah, and this has not been enough to keep the share price from declining. (To be fair, the entire sector has been in decline of late.) But maybe today's news might help to arrest that decline as we await the turnaround of sentiment in the sector.
Today's NR announces the granting of a permit for the development of their Cariboo gold mine in BC. It actually has larger import, as this is the first permit granted under the new provincial regulatory regime which requires input from affected First Nations. It is no coincidence that this PR quotes endorsements from all three local First Nations. I have been listening to coverage of this event, and some of folks in the town of Wells, on the verge of which the mine will be built, are worried about it affecting the tourism which drives the local economy, but there is no doubt overall local sentiment is in favour.
ODV anticipates finishing the permitting process in Q1, and then comes the hard part, raising the money and building the mine. Notably, this PR mentions neither.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34444385
West African gold miner Endeavour Mining aka EDV doesn't mess around. At the beginning of this year they announced that Tanda-Iguela in Côte d’Ivoire would be their main exploration target, and that to that end there would be a large 70km drilling campaign. I think they are impressed with what they have found so far; today we get an update on that drilling, telling us that they have already completed 108km just at the main Assafou deposit plus another 15km at satellite deposits, and that they expect to complete over 180km of drilling by year end.
Through these efforts, they have been able to extend the strike length of Assafou to 3.3 km., with the headline assays including 71.5m @ 5.29 g/t Au, 41.9m @ 5.55 g/t, Au 70.3m @ 2.94 g/t, and 37.4m @ 3.43 g/t. Au. Several of the satellite deposits are also very promising, including Pala Trend yielding 11.0m @ 9.70 g/t Au and 10.0m @ 3.07 g/t Au and 3.0m @ 47.25 Au g/t on the Kongojdan target.
Based on how EDV has been allocating resources, I expect Tanda-Iguela to be developed very quickly. To that end, they have begun the environmental permitting process and will deliver an updated Resource Report before the end of this year. I expect economic studies are already underway but will only be announced in the wake of the new Resource Report.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34444409
Hemlo Explorers aka HMLO released an update on the Pic gold project in Ontario, on which ABX is earning up to 80% ownership under a JV agreement. Barrick is known for being sparing in the information they release concerning projects JVed with juniors, but we can glean enough from this PR to get a very positive impression.
First, ABX has already spent double what they were required to in the first year of the agreement well before that year has elapsed. And they are being very assiduous, running geophysics and sampling programmes not just on the known targets but also across the unexplored portions of the property. As well, they have re-assayed historic core from the property.
We get no numbers in this release, primarily because almost all the assays are still pending. But knowing how ABX approaches these things, we may never get any of the assay results. Whether we do or not, the key datum will be whether ABX continues the exploration. That said, we do get a map displaying some till sampling results which look very promising.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34444639
Australian gold and nickel miner Karora Resources aka KRR released a brief NR giving us a first look at their Q3 results, and I would call them solid. The managed to produce 39548 oz Au this quarter, pushing the 9-month total to over 120k oz and setting them up well to meet or exceed the top end of their 2023 guidance of 145-160k oz.
We are also told that KRR added over $15M to their cash stash, pushing it to $84.2M. We'll get more details when they release their financial results.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34444647
Goliath Resources aka GOT announced they have closed their gift to insiders in the form of a PP priced way too low. Now that that is out of the way, I am waiting to for the share price to hit my target so I can sell my shares (which will be at a loss, but good riddance anyway). I have a new company in mind for that money which I will reveal when the time comes.
https://ca.finance.yahoo.com/news/goliath-resources-limited-closes-final-145700858.html
Saville still sees no evidence that the correction in the PoG from its May high is over, but also notes that it is currently as oversold as it ever gets. A well, it continues to hold above the March low in spite of the downward pressure exerted by the 10-year TIPS yield making a new high. He also see signs that the gold stocks are making a bottom, albeit not yet confirmed by the tecnicals.
TUO x 2, RIO, MTK
Teuton Resources aka TUO has released two recent updates. The first concerns this year's drilling programme at the JVed Treaty Creek project in BC's Golden Triangle. This year's drilling, which is now complete, totalled more than 31km of core, and in this PR we get the assays from seven holes with a number still pending.
These seven holes continue to extend the already enormous Goldstream deposit to the northeast, and continue to find extensive mineralization, including the highest silver assays yet found. topping out at 571 g/t Ag over 1.5m. They also continue to define high grade zones, such as 255.0m @ 1.18 g/t AuEq (1.15 g/t Au, 2.01 g/t Ag, 0.01 % Cu) containing 55.5m grading 3.35 g/t AuEq (3.27 g/t Au, 6.62 g/t Ag, 0.01 % Cu)
The JV partners has already constructed further stepout drill pads to the northeast in preparation for next year's drilling as they continue to search for the limits of Goldstream. Once that is complete, they will focus on drilling up the other deposits on the property leading to an eventual PEA. In the meantime we will continue to get updated Resource Reports.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34438384
TUO also released an update on a number of their other properties, including 100%-owned Big Gold, Eskay Rift, Four J’s, Tennyson and Pearson properties near Treaty Creek, as well as several properties east of Stewart JVed with SVG.V.
On the 100%-owned properties where they are targeting large Cu/Au porphyries, a programme of mapping and sampling concentrated on new areas revealed by the continuing disappearance of glaciers in the area. Assays are pending
The properties JVed with SVG have drawn new interest because they border on recent discoveries in the area by DV and GOT. The companies carried out an extensive programme of mapping and sampling this summer, but so far only a few results have come back from the lab. What they have received so far are promising, so especially if the rest of the assays are as good, I expect exploration to ramp up next year.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34438413
Last weekend the IKN newsletter brought us an update on the appeal process concerning the granting of permits for Rio2 aka RIO to develop their Fenix gold project in northern Chile. Everything is poised and ready to go once the Chilean government issues notice that the hearing will be held, but they are dragging their feet on doing so. This means RIO is still in 'conserve cash' mode, which in turns leads to this announcement that directors and officers of the company continue to take shares in lieu of salaries.
https://ca.finance.yahoo.com/news/rio2-limited-issues-shares-lieu-235400894.html
Galway Gold -- not to be confused with Galway Metals, exploring in the Canadian Maritimes -- had basically gone quiet since 2016, when a new law in Colombia shut down their operations in the highlands. In the time since they have been pursuing compensation under an FTA, a process which has dragged on and on but is finally near the end of the arbitration process.
Most recently, the company changed their name to Montauk Metals aka MTK, and then replaced most of management. Now we get an update on the arbitration process, and it is, well, interesting. The Colombian government has been doing everything they can to drag out the process in the hopes MTK will run out of money, and at this point they have been pretty successful, in that MTK does not have enough on had to cover costs they must pay early in November. To that end, they have announced a PP; I hope the new management is well enough connected to get the PP filled.
Though I am by no means an expert, I do think MTK has a good chance of winning in the end. Heck, they might even get the full $180M they are asking for. Keep an eye on Eco Oro's similar case against Colombia for clues.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34439595
HMLO, GOT, CKG, MAI, IPT
Hemlo Exploeres aka HMLO released the results of this year's mapping and sampling programme at Project Idaho, a polymetallic prospect in Ontario, located a few kilometres east of the Marathon Pd/Cu deposit being developed into a mine by GENM.
This programme was carried out on the eastern side of the property -- we are awaiting assays from the recent drilling on the west side -- and what they found, both in terms of uU/Ni/PGM/Au mineralization and in terms of finding mafic intrusive outcrops, support their theory that what they are finding is evidence of a similar mineralization event to the one that created the Marathon deposit.
I expect we will hear about plans for further exploration once the drill results are released.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34434728
We get news that Goliath Resources aka GOT completed its gift of large amounts of money to Rob McEwen and Crestval in the form of a PP priced WAY too low This despicable treatment of existing shareholders was the last straw for me and I have my shares on sale, waiting for the my price to be met.
https://ca.finance.yahoo.com/news/rob-mcewen-crescat-capital-complete-070800467.html
Mexican gold miner Minera Alamos aka MAI brings us two pieces of news.
First, the announcement of the final funding package for the development of MAI's second mine, Cerro de Oro, is about to be signed once the lawyers finish checking the details. Meanwhile, they wait for the necessary permits, expected in Q1.
But the main import of today's PR was the announcement o an initial Resource Report for its producing Santana gold mine in Sinaloa, Mexico. The initial Resource is not large -- 9.61 Mt @ 0.65 g/t =) 198k oz Au M&I with a further 103k oz Au Inferred at a similar grade -- but that was always the plan. They have now defined 5-6 years of production, the proceeds from which will be used to define and develop further mineralization at the many exploration targets on the property.
Meanwhile, MAi continues to trade well below its value. Fortunately, I am patient.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34435753
As they have for the past decade and half, Chespeake Gold aka CKG continues to try to find a way to make their large but low grade Metates gold deposit in Durango, Mexico economic to mine -- a futile effort IMO -- they also have been carrying out exploration on some of their other Mexican properties.
Today we hear about the results of the initial drilling on a property calledLlucy located in Sinaloa, Mexico. CKG originally staked Lucy in 2017, and exploration over mapping and sampling over the intervening years first established a zinc skarn and then a gold-bearing skarn. The drill results have extended the zinc skarn,to a strike length of 1.5km, but the focus is firmly on the gold deposit just to the south. Assays like 6.1 g/t Au over 24m have established a strike length of over 500m with surface outcrops, and will be followed up by further exploration to better understand the geology.
https://www.siliconinvestor.com/readmsg.aspx?msgid=34435735
Mexican silver/zinc producer Impact Silver aka IPT has announced that it has begun trading on the OTCQB using the symbol ISVLF. It will be interesting to see whether this produces an improvement in liquidity.
https://www.newsfilecorp.com/release/182487
Saville admits that last week's action in the PoG means his prediction that the recent low had marked the start of an upward trend to a new ATH proved incorrect, but does note that the extension of the correction means that the five month old correction has retraced 50% of the gains since the start of the bull, making it a possible, maybe probable start for the next leg up, with the main risk being that the US economy has remained strong enough to reduce the chance of the Fed ending monetary tightening. Keep your eye on the 10-year TIPS yield.
I took advantage of the recent selloff to establish a position in Surge Battery Metals aka NILI in the '80s range. The are run by a team of proven mine finders and have assembled a package of high grade lithium clay deposits in northern Nevada.
LC
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.
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.
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.
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.
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.
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
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.
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/
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