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ORV.TO I caught that too, and previously bought and sold probably same time as you. But as you said, when scouring for under covered value Orvana showed up and I spent some deeper time. The reason the AISC went up was two fold, One, they sold less than they produced in Q2 by 3000 oz simply because they didnt get all the con to the smelter in time for the paycheck. We will see the extra in Q3. Not a big deal but it weighed in. The bigger item was the decrease in production from the previous quarter due to the poor shape at the mine underground resulting in the poor AISC. This left the same fixed costs supporting less ounces. These both caused an, in the dog house sell off for the shares, leaving Orvana to come up with a plan. I bet on the plan coming through and bought the shares when no one else wanted them. Also new current AISC with cost cutting and lower production is in near $1350 now, leaving room for Orvana to take care of business and sent it to previous or lower levels. Its a no brainer similar to Excellon where they only have to execute and wait, except this is not as compelling as Excellon.
ORV.T Orvana At a market cap of $30 million and cash as of March 30 of $15 Million, you get a company that fits my favorite recipe of solid company with solid assets, solid past, that is in the doghouse now, but with a solid achievable plan to come out swinging. One drawback for me, is the under ground producing mine, El Valley is in Bolivia, but that ding is priced in by a large margin already and I'm willing to accept the risk.
Orvana is a recent 135KAuEq low cost producer, that paid back $70M worth of loans during the recent bad years. Its for this reason and the POG, things are in rough shape and Orvanas underground development has suffered as they didn't have the cash to keep it up and thereby the reason for the drop in production.
Orvana recently got a $7.98M secured financing, that was secured by a major Bolivian bank. The plan is to reinitialize production at the Don Mario CIL circuit in Spain, at a different location where they have done metallurgical testing that will offer better recoveries and lower costs than previous south area, (interesting side note, I crossed paths at the DNI Metals facility Lab where Orvana was doing this work). The project has a CAPEX near $6.4mil and long lead tme equip was ordered in April for an expected finish time of 7 - 9 mths, or later this year.
As to El Valley, they have water, electricity and ventilation issues to deal with, and basically just need to rehab the underground.
Total 2016 CAPEX for both projects is between $18M and $20M. They have $15m cash and the latest $8m financing. Also weighing in is the fact, they have less production than before and need to keep up on the drilling.
They have gotten the plan. All in all, you could be buying a future 150k producer, with 2 producing mines, plenty of exploration upside, for next to nothing now. Place your bets, as to weather they can get things put together like they say. The risk reward ratio was to compelling for me to pass up. Ive been buying since the high teens and have even averaged up today. This company was well liked by Chen and maybe Bobwins in the past, and more recently in the last year commented by DrAir. Dont know where they stand now but hopefully their on board even if by legacy shares.
PS almost forgot, Orvana made some interesting board changes recently where they reduced the directors from 9 to 5. That change saves Orvana shareholders $419,000 USD in extra management overhead and with the CFO doing extra work as Interim CEO that saves another $838,000 in management overhead. Gets more interesting, two new former USA silver director now sit with ORV. Gordon Pridham Former chairman of US Gold and Silver, now Americas Silver is in charge of Orvana's strategic planning.
Alan Edwards, also from USA, is a professional mining engineer who also has an MBA.
HUMMMM Could Mr. Edwards has been sent to scope out the value of Orvana as a possible USA merger target? Combining the 2 would make a 2 mine USA Silver with $15M cash injection, or USA Silver mgt has done a good job cutting head count and labor costs while keeping up production, maybe they are doing the same here?
Checkmate28 GLTA
GWA.v .18 - 30 days without a down day Plus 3 hrs new DD
Little something I put together today with a few hard hours of DD.
Given:
1) TORONTO, ONTARIO--(Marketwired - June 29, 2016) - Gowest Gold Ltd. ("Gowest" or the "Company") (TSX VENTURE:GWA) is pleased to announce that it has entered into a negotiation agreement with Northern Sun Mining Corp. ("Northern") for the use of the Redstone Mill (the "Mill") located in Timmins, Ontario to process material from the Company's Bradshaw Gold Deposit ("Bradshaw").
2) Northern Sun suspended its custom milling operations at its Redstone Mill in early November 2015 with the former lessor.
Northern Sun Mining Corp, owner of the Redstone Mill, just went private in April 2016. Its now Owned 60% by Jien International Investment Limited (JIIL), established in Ontario in 2008, is a wholly-owned subsidiary of Jilin Jien Nickel Industry Co., Ltd (JJ), a listed company in the A-Share Market of the Shanghai Stock Exchange. Also 40% just purchased by Regal Silver Investments Ltd another large Chinese company. JJNIC financed Liberty Nickle with $30 million a few years back. Northern Sun Mining Corp is now a powerhouse as to depth of support.
3) Gowest Chinese owned financial partner FF Future Fortune owns 30% of Gowests shares and has financed millions to Gowest already.
4) Chinese business's stick together. Is it possible that this outcome was prepared from the beginning for a business relationship that includes either win win business contracts or even some degree of M&A? Surly the 2 would both benefit financially just from a tolling agreement and Nothern Sun could provide the CAPEX for the bulk sample in lieu of the future processing of the Gowest ore. Gowest could make delayed payments from the bulk sample revenues just like they have been alluding in Press releases. Another thought is Gowest could give up equity for a stake in the processing plant (a JV) ? Thinking this up as I go after doing the DD but I like it. At either rate it would benefit Northern Sun to get Gowest up and going. Nothern Suns mill is sitting idle. Gowest has an available upcoming project in Timmins large enough to fill the capacity once they finish the bulk sample.
5) Gowest has the autoclave for roasting the ore they purchased from the con mine. Could this be in the future plans for Northern Sun and Gowest as well, to pitch the central Autoclave to the Timmins mining community such as Goldcorp was talking about doing at their Annual business meeting?
6) The price of gold has to be motivating to both partys and actually the timing of Gowests permitting has worked out nice as it looks like they can now more easily raise money for progress.
7) Job List
Northern Sun Mining is currently looking to fill positions at the Redstone Mill, located 25 km southeast of South Porcupine, Ontario. The Company offers a competitive remuneration package including benefits and group RRSP options. Positions available include the following:
Forward Resumes to:Northern Sun Mining Corp.
8) Not many know this but Gowest is a mining camp in its infancy. Checkmate said long ago and its going to play out!
I predict 31 days of Gowest trading without a down day.
Checkmate28
AUMN Golden Minerals +80% this week. Posted June 5 that Golden Minerals was a good buy when you could buy then in the mid .30's. Traded .90 this AM.
Again Low sentiment, multiple catalysts good mgt, assets.
CPTMatt RE GORO CSQ & Silver When I found that out a few daws ago, I immediatly called GORO to find out why. From the conversation, I deduced GORO is spending cash on about 4 fronts that will transfer to increased production and Cash flow in the next three quarters starting now. They simply think spending money on their home projects will be more rewarding, faster for the company, and not so much that Canamex was a bad investment. I immediatly bought CSQ at .045 for a trade. With a MC at $6M I think they are trading down due to the GORO selling pressure and will bounce when GORO is done. Canamex has a PEA with very good IRR & NPV numbers relative to its MC and a nice property in Nevada. I dont think its going lower and each half penny is 18% up. Could have taken that already.
GORO I added today after you alerted me to the silver price. Thanks Actually I thought you mis typed LOL! When I saw the bump, I immediately had to get some silver and choices are limited with Canada closed today. I thought about USA Americas Silver but GORO is going to be my sleeper silver horse with the most catalyst and worst sentiment (my favorite combination for short term buy and hold). GOROs going to put up some nice production increases and cash flow soon relative to its MC.
Checkmate28
Happy 4th
Traderfan CPTMatt GWA Gowest. Trading most of the day at .17 was more than I thought, but price had that much to catch up. Permitting uncapped and made everything else legit and attainable. Shares Might trade this level for awhile. $45M MC seems fair for now. Financing now the bottle neck.
Coming Catalysts that could raise the MC
Any good financing agreement that provides some millions of CAPEX in lieu of delayed payments for services, drilling ect. I expect some, as GWA mgt is extremely conservative with hype and they seem confident in little to no dilution for the bulk sample. Could also be a tailing agreement as the tailing will be worth some millions and dont forget GWA has an autoclave for the roasting as well that could show up in news. Previously GWA was negotiating an agreement with a roaster south of Timmins that might put up the costs if Gowest would give them the contract for the tailings that are rich in sulfur.
If eventually purchased, the brownsfield mill has the potential to save millions of CAPEX, lower the AISC from $891 and save time over any new mill scenario. I think its good for 150,000 of Gowest ore.
On the outside they are drilling on a few fronts. Any new discovery thay points to a second zone will move the shares.
GWA.V Gowest Gold News. Negotiating a 2000TPD Brownsfield Mill
GOWEST GOLD ENTERS INTO RIGHT TO NEGOTIATE A MILLING AGREEMENT
TORONTO, ONTARIO – (Marketwire – June 29, 2016): Gowest Gold Ltd.("Gowest" or the "Company") (TSX-VENTURE: GWA) is pleased to announce that it has entered into a negotiation agreement with Northern Sun Mining Corp. (“Northern”) for the use of the Redstone Mill (the “Mill”) located in Timmins, Ontario to process material from the Company’s Bradshaw Gold Deposit (“Bradshaw”).
The parties intend to negotiate an arrangement (the “Proposed Transaction”) pursuant to which Gowest will have the right to use the Mill for the purpose of processing up to 500 tonnes per day of material as part of its bulk sample and pre-production program at Bradshaw. (See Gowest news release dated June 16, 2016.) The Proposed Transaction may also include the right of Gowest to (i) purchase the Mill; or, (ii) enter into a long-term agreement to lease the Mill; or, (iii) enter into some other form of transaction pursuant to which Gowest will acquire or have access to the Mill for the purpose of processing material produced by the Company.
Northern and Gowest shall negotiate with each other in good faith in respect of the Proposed Transaction until no later than October 31, 2016. As consideration for the right to negotiate, Gowest will pay Northern a fee to defray part of the Mill’s care and maintenance costs.
Gowest President & CEO, Greg Romain said, “We are extremely pleased with the discussions that have taken place with Northern to date. This is a great mill for processing our material both short and long term. We look forward to working with the Northern team in identifying additional sources of feed and optimizing the Mill for our mutual benefit.”
Qualified Person
The scientific and technical disclosure in this press release has been prepared and approved by Mr. Kevin Montgomery, P.Geo., Gowest's Manager of Exploration and a Qualified Person under National Instrument 43-101.
About Gowest
Gowest is a Canadian gold exploration and development company focused on the delineation and development of its 100% owned Bradshaw Gold Deposit (Bradshaw), on the Frankfield Property, part of the Corporation’s North Timmins Gold Project (NTGP). Gowest is exploring additional gold targets on its +100-square-kilometre NTGP land package and continues to evaluate the area, which is part of the prolific Timmins, Ontario gold camp. Currently, Bradshaw contains a National Instrument 43-101 Indicated Resource estimated at 2.1 million tonnes (“t”) grading 6.19 g/t Au containing 422 thousand oz Au and an Inferred Resource of 3.6 million t grading 6.47 g/t Au containing 755 thousand oz Au. Further, based on the Pre-Feasibility Study produced by Stantec Mining and announced on June 9, 2015, Bradshaw contains Probable Mineral Reserves, using a 3 g/t Au cut-off and utilizing a gold price of US$1,200 / oz, totalling 1.8 million t grading 4.82 g/t Au for 277 thousand oz Au.
GWA.v Gowest Great day! trading up .13-.14 all day. Traded .075 end
May.
GWA.V GWSAF In play .12 shares are vanishing. Calling this a buy at this level. Read below for the reasons Gowest is a buy here and an extremely close comp to Gowest. Harte Gold HRT.V trading at $83M MC vs $34M for GWA. Also link back a post to April 18 where I called GWA and DNI as the only thing I was buying after the minors moved up strong. GWA was trading at .07, so up 75% during a time where most were correcting. DNI move still coming.
Harte Gold just down the road from Gowests property. They are about 8 -10 months ahead of Gowest. Broke ground on their Bulk sample in November 2015 and shipped first development ore from the bulk sample in May 2016 to Barrick. Harte has an Inferred resource of 1.5 Million oz at 8 - 10gpt similar to the resource reported in Gowests PEA with ore sorting factored in. Difference is Harte moved forward with no reserves and only the PEA. They are toll milling a bulk sample concentrate like Gowest will be.
Harte Gold traded at .07 in Jan just after kicking off the bulk sample, they have more shares than Gowest but now trades at .28/share with a market cap of $83Million over double that of Gowest Gold. Gowest will have a head grade near 10gpt with the proven Ore sorter technology.
Hart moved forward without the Pre Feasibility study or moving resources to the Reserve category.
If GWA trades equal to Harte Golds market cap, than GWA shares will trade at .28 or well over a double from todays price. Harte gold is still steadily moving up,
Gowest waited 7 years for the permits plus the drop in metals price put GWA so far under the radar its not even funny. GWA kept plugging away at progress, all the while keeping share count manageable. Cant say enough about the integrity of this team.
The key is the financing for the bulk sample. My bets are, they finance it with little or zero raise in share count. Their negotiating with their partners and contractors for delayed payments from the first 10k ounces pulled, plus they have their finance partner Future Fortune. If you wait for the confirmation, you'll pay more.
As to Harte Gold, Gowest is ahead in work in several areas. As to Gowest Gold, this is a mining camp in the makings. Gowests 1.5 Million oz resource is very high grade and comes from 1% of their land and their are 17 other targets.
Also this article just out in the Financial Post does a great job laying out the story. Be sure and catch the snippet on the Whitney property that is rumored to have more Gold than Gowests Bradshaw Property.
http://business.financialpost.com/news/mining/small-cap-news/gowest-permitted-for-gold
Checkmate28
GWA.V GWSAF In play .12 shares are vanishing. Calling this a buy at this level. Read below for the reasons Gowest is a buy here and an extremely close comp to Gowest. Harte Gold HRT.V trading at $83M MC vs $34M for GWA. Also link back a post to April 18 where I called GWA and DNI as the only thing I was buying after the minors moved up strong. GWA was trading at .07, so up 75% during a time where most were correcting. DNI move still coming.
Harte Gold just down the road from Gowests property. They are about 8 -10 months ahead of Gowest. Broke ground on their Bulk sample in November 2015 and shipped first development ore from the bulk sample in May 2016 to Barrick. Harte has an Inferred resource of 1.5 Million oz at 8 - 10gpt similar to the resource reported in Gowests PEA with ore sorting factored in. Difference is Harte moved forward with no reserves and only the PEA. They are toll milling a bulk sample concentrate like Gowest will be.
Harte Gold traded at .07 in Jan just after kicking off the bulk sample, they have more shares than Gowest but now trades at .28/share with a market cap of $83Million over double that of Gowest Gold. Gowest will have a head grade near 10gpt with the proven Ore sorter technology.
Hart moved forward without the Pre Feasibility study or moving resources to the Reserve category.
If GWA trades equal to Harte Golds market cap, than GWA shares will trade at .28 or well over a double from todays price. Harte gold is still steadily moving up,
Gowest waited 7 years for the permits plus the drop in metals price put GWA so far under the radar its not even funny. GWA kept plugging away at progress, all the while keeping share count manageable. Cant say enough about the integrity of this team.
The key is the financing for the bulk sample. My bets are, they finance it with little or zero raise in share count. Their negotiating with their partners and contractors for delayed payments from the first 10k ounces pulled, plus they have their finance partner Future Fortune. If you wait for the confirmation, you'll pay more.
As to Harte Gold, Gowest is ahead in work in several areas. As to Gowest Gold, this is a mining camp in the makings. Gowests 1.5 Million oz resource is very high grade and comes from 1% of their land and their are 17 other targets.
Also this article just out in the Financial Post does a great job laying out the story. Be sure and catch the snippet on the Whitney property that is rumored to have more Gold than Gowests Bradshaw Property.
http://business.financialpost.com/news/mining/small-cap-news/gowest-permitted-for-gold
Checkmate28
GWA.v GWSAF Gowest: Permitted for Gold Great article sums things up well. Link below
We last spoke with Greg Romain, CEO of Gowest Gold (V.GWA), exactly a year ago. At that point Gowest had just completed a Pre-Feasibility Study of its Bradshaw gold deposit located on an under explored and virtually untested fault system just outside Timmins, Ontario. The next step was to secure permits for bulk sampling and advanced exploration.
On June 22, 2016, Gowest announced that it had received the required permits. In that release Romain stated, “After a lengthy and thorough review, we have received the critical permits that will enable us to take the next major step towards the development of the next new gold mine in the Timmins Gold Camp. Our strategy is to optimize project efficiencies, accelerate timelines and lower both up-front and overall project costs. The Bradshaw, which forms part of the Company’s large land package and includes numerous additional mineralized targets, is a high-grade gold deposit with significant potential for growth along strike and at depth.”
While the Company is extremely pleased with Bradshaw’s development thus far, drilling has already intercepted strong gold in several areas just outside the defined deposit area, clearly showing the true size of the deposit has yet to be determined. Gowest has also intercepted gold on several other parts of its more than 100-square-kilometre North Timmins Gold Project property. Further, Gowest has yet to begin drilling on its newest “Whitney” claims, which lie approximately one kilometre northwest of the Hallnor Gold Mine and next to Lake Shore Gold’s high-grade 110 Zone. The Hallnor was among the richest gold mines in the Timmins camp, and was notable in that 1.7 million ounces of production came from an area the same size as Gowest’s Whitney claims.
Speaking to Romain by phone, it became clear that the permits mean more than a simple clearance from the Ontario government. “This is really the beginning of underground mining,” said Romain. “We’ll construct the portal and the ramp and take out a 30,000 tonne bulk sample.”
Taking the rock out in bulk is important because it will give Gowest the opportunity to work through the processes necessary to sort and refine the gold ore.
The rock is first crushed before it is fed through specialized x-ray ore sorting technology, which physically separates the low grade rock from the gold rich rock. “We expect we’ll reject 50-60% of the rock using a dual x-ray sorter. The rock we keep will have a grade running about 9 grams per tonne. This sharply reduces costs and improves the economics of the mine.”
The remaining rock is sent to a grinding mill (concentrator). Being located in Timmins, Ontario, finding milling capacity has not been difficult for Gowest.
The gold concentrate produced from the mill is then run through a pressure oxidization (POX) plant, which produces an extremely high grade gold concentrate in our case 3 ounces per tonne. This is because the gold at the Bradshaw is refractory gold. “It is very similar to the gold Newmont mines in Nevada,” explains Romain. “You have to take this extra step as compared to free milling gold. Essentially you are stripping away the arsenic the gold is entangled with. We’ve done the metallurgy and it works. The POX process adds $80 to $100 an ounce to the costs.”
All-in costs are estimated to be $891 US per ounce. “We did our Pre-Feasibility based on a gold price of $1500 Canadian and recently gold has been closer to $1600 Canadian an ounce.” said Romain.
Romain is quick to point out that Gowest now has one of the very few permitted greenfield mines in Ontario. “It took seven years to get the permits,” said Romain. “Having them puts us into a very different category.”
Achieving this milestone gives Romain options when it comes to financing. “We’re all about structuring. We have had excellent discussions with parties in the United States. Our Chinese investor has been very supportive. But we are also looking to potential suppliers and contractors to see how we can find different financing options to get the bulk sample mined.”
The objective of these discussions is to defer the upfront costs of extracting the bulk sample as much as possible. In the current market, raising capital could be significantly dilutive for Gowest. Persuading suppliers and contractors to defer payment until the estimated 10,000 ounces of gold from the bulk sample have been processed and sold could be an attractive option for businesses whose order books have been impacted by the mining slowdown of the last few years.
Romain is just as optimistic as he was a year ago. “We expect we’ll have the funding in place in September,” he said. “Using an existing mill means we don’t have to raise capital to build one. Lenders are keen.”
In the Timmins camp, more and more of the existing miners are having to deal with refractory gold. Goldcorp and Tahoe each have significant quantities of this type of gold, which they have largely ignored while they mined their free milling reserves. Now, they are taking a second look. Goldcorp is rumoured to be looking at building a large autoclave facility. But Gowest’s refractory gold deposit is the largest in the Timmins camp and its adoption of advanced ore sorting technology is likely to make its mine a paying proposition.
At time of writing Gowest was trading at $.10 with 282.8 million shares outstanding for a market cap of $28.28 million dollars.
http://business.financialpost.com/news/mining/small-cap-news/gowest-permitted-for-gold
Gowest Gold GWA.v Now trading strong at .115 Been steadily trading up.
Several catalysts lined up. Recently got fully permitted. Working on financing for the bulk sample. Possibly news is around the corner. The right news will make this way under valued at todays price.
Its all about the terms on the low CAPEX financing. All the other boxes are checked
GPX.au Nice comparison on the IPO. Stock opened at .20 June 13. Went to .60 and now stands at .43. Read their presentation and you can see the synergys and a similar path for DNI. Big difference is DNI will do it on a smaller level at a fraction of the cost. Very incouraging.
http://www.graphexmining.com.au/wp-content/uploads/2016/04/160407-Spherical-Graphite.pdf
Bobwins RE HUM.l Almost bought that 30 days ago before the financing. They are cheap for sure and it looks like a sure thing going forward esp now.
With the financing, they will start producing 60 - 80 K at Yanfolila in Mali with a 50% after tax IRR.
Eventually, they can leverage that to finance Dugbe but need $212 M where they will produce 125K oz/yr
They have a huge amount of resource targets for the future.
I passed on buying the stock due to to many irons in the fire in safer jurisdictions.
For a $40m MC, this is cheap and Ill surly be following the story.
GWA.V GWASAF Today in the Timmins Press
Gowest gets go-ahead
By Len Gillis
Thursday, June 16, 2016 10:15:40 EDT PM
TIMMINS - The arrival of this sunny summer weather in Timmins this week brought some sunny news for Gowest Gold Ltd., which reached an important milestone for the new gold property it is promoting in Timmins.
Greg Romain, company president and chief executive officer, said the long permitting process is finally over.
“Yeah, we got the last permit signed off yesterday. It has been a long time coming but we’re certainly happy about it,” the Timmins native said in an interview Thursday morning.
Gowest is a junior gold exploration company working to develop the North Timmins Gold Project located roughly 35 kilometres north of the built-up area of Timmins. The project, which is part of the well-known Bradshaw gold venture, has more than 400,000 indicated ounces of gold and more than 750,000 ounces inferred.
The Ontario Ministry of the Environment and Climate Change (MOECC) has completed its Environmental Assessment of Gowest’s advanced exploration (AE) program and issued the final permit required for the Company’s AE work that includes the removal of a bulk sample, said a company news release. Permit approvals have also been received from the Ontario Ministry of Northern Development and Mines (MNDM) and the Ontario Ministry of Natural Resources (MNR), said the company statement.
Romain said the completion of permitting means his company can move toward the development of what he is calling “the next new gold mine in Timmins.” He said that doesn’t mean his team hasn’t been busy already.
“Things have been in motion even without the permits, we have been doing things in parallel. We are working on the detailed engineering work for site preparation and underground development,” Romain said.
He added that discussions are now underway with lending groups to fund the removal and processing of a bulk ore sample. Romain said talks are also underway with contractors to participate in the development of the mine, thereby reducing the start-up costs until there is revenue recovered from the bulk sampling.
“The biggest thing we’re working on now is putting the financing package together to get underground.
“Our goal is to hopefully start the portal (ramp entrance) in late fall. In my mind that’s where I’m headed. We’ll see if it all gets there or not. If I could start today, I would start today.”
Romain said it has been a long haul to go from acquisition, to permitting to finally preparing to extract a large bulk sample of several hundred tonnes of ore for processing and evaluation. Regardless, he is feeling good about it.
“I am very optimistic. Have you ever known a mining guy not to be optimistic?” Romain said, with a laugh. “I mean we’ve come this far. I’ve told everybody and they all know, I think, to get where we’re at is an amazing achievement by the group here.”
He said Gowest is still in discussions for milling the ore. Romain said he was not able to release full details right away.
“There are people who are quite keen in helping us to get to that next stage and underground. So I think there will be some interesting stuff coming out in the next few weeks or in a month.”
Romain said Gowest has a reputation of getting things done, even if it has taken a bit longer than expected.
“We keep marching down that road. And as the people, not so much in Timmins, but as the people on Bay Street get to know who we are and what we do they have a better sense of appreciation and we’ll have more followers before long.”
Lone clone DMM: I've seen it all LOL Dynasty Metals lets the striking miners mine the property on there own. Revenues from said work being slated to pay for back wages. Gets the minors back to work with a motivation while reducing somewhat the bleeding for Dynasty.
GORO I mentioned a couple times about them POSSIBLY making a run at CANAMEX. Looked up the Canamex insider report and noticed GORO has been dumping their CSQ shares by the millions. My first thoughts were, are they bought the CSQ position to get a foot in Nevada so the company could have 2 jurisdictions and a mine in the Reeds back yard. Since than, they have had such success with Gold Mesa in Nevada they decided to take the CSQ money and spend it developing future growth for the current projects.
Going to spend some time looking into weather this is presenting an opportunity to get CSQ on the cheap for a trade when GORO is done or is there simply no value there?
When HOC sold their GORO position over time, it presented a nice opportunity to get the shares cheep. Only problem was gold was crashing the entire sector.
https://www.canadianinsider.com/company?menu_tickersearch=CSQ%20%7C%20Canamex%20Resources
GORO Several Near term Catalysts and Russel 2000 inclusion tomorrow!! I added a nice wack today after reading the 8-k filing yesterday for the annual meeting wrapping everything up. Looks to me like GORO is going to have a solid 12 months of progress ahead. 3-4 new sources of quality high grade ore, the recent increased capacity of the mill and the soon reopening of the agitated leech circuit. Everything moving forward organically. They haven't diluted since 2010 and have kept a divy going since they started production.
Alta Gracia, mine permit in hand waiting for blasting permit. I think its about 3-4mths out. Potential leech mill feed
Switchback The grades/thickness are large. Their going to pull large amounts of ore to bring the EL AGUILA mill near capacity. Forecasting EOY
Gold Mesa. Another round of drilling and they could make a decision. From the decision, they could develop a small pit in near 6mths for a small CAPEX paid by CF
RE Starting of the old heap leach circuit.
GORO will be included in the Russel 2000 plus one other index tomorrow. Probably a reason for recent volume and its going to draw volume and attention to these catalysts.
Working on final approvals for new power grid. If successful they will save $4 million/year for $3.5M CAPEX
Currently GORO is in the penalty due to decreasing production, decreasing grades due to development ore, and decreasing divy all allowing the shares to drift. On the surface for the numbers readers, things dont look so great. A deep look inside shows, they chose to work on catalysts for the future during a time that producing gold was the least beneficial. Already up a couple
On the outside, we could be thinking about a future run or JV with Canamex esp if things progress at Gold MESA
Checkmate28
CPTMatt GWA.v Its a good day to see Gowest Gold unleashed. 5 year permitting process in Ontario has to be hurting the local industry.
GWA is my largest position and its going to be nice to watch the progress. Shares have been stedily moving up but are still cheap for a well managed developer with a high quality resource. The market has no idea how good Gowests property is. The Bradshaw deposit is already one of the largest strike (1300 meters) deposits in the Timmins area and is open on strike and at depth. Going to be well over 2 million ounces there alone. This deposit sits on about 1% of their contiguous land package on the Pipestone fault where there are at least 17 other targets , some partially delineated, with similar geo physic signatures. GWA has one of the lowest CAPEX development projects with high IRR and AISC under $900. The economics are based on reserves (about 500k oz)and theirfore not indicating the potential shown by the earlier PEA with the NI43 resource near 1.5 million oz. Once they get this bulk sample out of the way, they will get the next permit to push 600tpd through the mill and grow from there. At 10gpt head grades after the ore sorter, this will produce some serious cash. Mark this ! They should get this funded with little to no dilution.
For anyone who doesn't know Timmins ON is one of the safest jurisdictions for a mining company. All the infrastructure is already there. More gold come out of Timmins camp than anywhere in Canada. This is my favorite jurisdiction. The shares just move faster sooner IMO.
For comparisons see the chart for Harte Gold down the road. They are about 8 -10 months ahead of Gowest. They have a similar resource to Gowest but moved forward with no reserves and are toll milling a concentrate like Gowest will be. Harte Gold traded at .07 in Jan, has more shares but still trades at .26/share daily with triple the market cap of Gowest Gold.
Back to now. From todays release
Funding
The Company has ongoing positive discussions with lending groups to fund the removal and processing of the bulk sample from selected portions of the underground deposit. The Company is also in discussions with contractors to participate in the development of the mine, reducing start-up cash requirements by deferring a significant portion of mining costs until revenues are available from the sale of gold produced from the bulk sample.
The Timmins mine developers/drillers are starving in Onterio due to the Onterio government taking years to let progress forward. They are probably more than willing to work now and get paid with revenues from the bulk sample in lieu of being rewarded with further Gowest contracts. I see this happening because of the quality of the deposit\mgt and the contractors wanting to be part of the future.
Checkmate28
Smitter. Im excited about GORO even at todays level.
Near term Catalysts
Alta Gracia, as you said mine permit in hand waiting for blasting permit. I think its about 3-4mths out. Have you seen the Annual presentation from yesterdays 10k?
Switchback The grades/thickness are huge. Their going to pull large amounts of ore to feed the hungry mill. Probably EOY
Gold Mesa. Another round of drilling and they could make a decision. From the decision, they could develop a small pit in near 6mths for a small CAPEX paid by CF
RE Starting of the old heap leach circuit.
GORO will be included in the Russel 2000 and I think another index tomorrow. Probably a reason for recent volume and its going to draw attention to these catalysts.
Working on final approvals for new power grid. If sucessful they will save $4 million/year for $3.5M CAPEX
Best part is that GORO is in the penalty due to decreasing production, decreasing grades due to development, and decreasing divy allowing for cheaper shares this year. I hear you guys talking about increasing the divy here but Id rather hold off and spend the millions on growth. Its a good time to be a GORO share holder
On the outside, we could be thinking about a run or JV with Canamex esp if things progress at Gold MESA
GORO Gold Resource Intercepts High Grade Gold at Gold Mesa, Nevada Including 15.24 Meters of 6.27 g/t Gold and 33.54 Meters of 1.89 g/t Gold
"Fifteen meters of over six grams per tonne gold, starting just nine meters down hole delivered the high-grade gold open pit potential we were looking for," stated Gold Resource Corporation's CEO and President, Mr. Jason Reid. "We look forward to building on these initial drill results with the goal to delineate enough mineralization to ultimately make a future production decision." This same 15 meters hit comes with 68g silver as well.
Near sure GORO will delineate enough here at Gold Masa to set up a quick pit good for 5 -6 Years of 30k yearly add on high grade ounces. The good hits are all near surface. Strip ratio should be low allowing for low CAPEX & OPEX. A foot in Nevada helps set up for further exploration and a possible future run or merge with Nearby Canamex where GORO already owns 19% of the shares.
Gold Mesa Another thing. These nice hits are coming at 9 meters from surface, minimal over burden and low strip ratios means low CAPEX and Low OPEX. Combined with good grades, looks like a good probability they will have the goods to make a positive decision on production.
AUMN Golden Minerals Up 23% today after I just posted it a good buy. 1.8 Million in volume. Waiting to see who the buyer is.
Bbotcs Thanks for the good words. I got my arse handed to me the last 5 years as precious metals kept dropping and I thought my hard work could still beat the system. Actually while listening to the Eric Sprott perma bull type I thought we were near the bottom the whole 5 years, LOL.
I learned a good one there. I now know the game of every perma bull in the market and esp will pay attention to Avi Gilbert and Bob Moriarty, the former who called top of gold 5 days before the high and sold his position, called lower gold all the way down, than called the bottom in Nov15 Our own Coinmaker was another who called to exit gold near the top.
http://www.321gold.com/editorials/guest/gilburt123115.html
In Nov Dec Jan 2016 I sold my going nowhere losers for chump change and backed up the truck and quadroupled most of my good holdings, believing tax loss season, low gold price and buying minors at 95% discount would get me back 10 times every dollar I put in.
5 -6 months ago, I was able to boldly use no brainer and 10 bagger in my posts but things are consolidating and valuations increased. Finding a legitimate 10 bagger candidate is hard right now.
Recently I posted GWA and DNI as good buys after the run up. I think those will prove good words but those are smaller companys, most here arn't interested in. GWA Gowest Gold is going to ring in some of its value here shortly and I still think DNI is going to surprise a lot of people.
AUMN Golden Minerals was .33 last week. Thats a good buy range.
I really like EXN excellon near 1.00 and GORO at $3 or below.
Im also spending some time DDing FF and Oban as prospect generator models, both who have swallowed incredibly good projects for next to nothing and have all star management.
Were going to find some more bargains for round 2 of the metals move up.
CM28
My Best quality best performing 2016 minors moved at the upper quartile by % gains today indicating to me that higher gold prices will continue to lead them to sector leading gains by % as higher metals leverage them to higher production and Cash Flows.
EXN.T Excellon Resources +12.50%
AR.T Argonot Gold +11.27%
GORO +13.33%
HL Hecla Mining +12.12%
GWA Gowest Gold The rumor is they got their last permit and will release the news soon. Thinking this will free some other news for release.
LOL I like boats. Have owned checkmates all my life! I like to win with the stocks so its fitting that way
Luke Great site here and thanks for the compliment on the other board. Great to meet another, that shares the vision for what DNI will become and thanks for getting this board up and going. You've covered just about everything so far.
Ive been following this company since March 2015 where I met Dan at PDAC. I was impressed by his apparent knowledge, drive, and integrity. Since then, they have made huge strides of progress, and basically done everything they said, and then much more. All the pieces are falling together giving great value in todays shares. Were going to be looking very good, very shortly. The only thing DNI is missing is the tying up of the financing that will allow for the closing of Ortech Lab and some of the drilling costs. Im sure there busy with the 1st traunch getting preparatory work done for the drilling in Madagascar. The interesting thing is that DNI closed the first round of financing and hasn't started another. This tells me, they must be working on something big in the back ground or has something nearly sewn up. Plus the 2 new directors being from the battery and clean energy space indicate that theirs more than mining plans going on.
I have a pretty good mining back ground and the one thing that amazes me, is DNI can probably have the whole property drilled, assayed, an NI43 compliant resource and a PEA study all completed in a year for around $15 - 20 Million. The Saprophyte material has the advantage of skipping the dynamite, plus crushing and grinding. Huge saving in CAPEX ans OPEX plus labor in Madagascar is much less.
Having a drilled off property with high IRR PEA, plus cash flowing lab and increasing demand for graphite equals financed project in my book.
Checkmate28
DNI Metals more. Theres another nice asset the company has, hint hint (google the Buckton deposit) Has a 2014 PEA with a $1.6B NPV poly matalic project. Not included in the PEA is and projected average annual production capacity of approximately 1 million pounds of uranium yellowcake and 5,500 tonnes of rare earth oxides, of which over 40% are made up of heavy rare earth elements. Additional to that, and not included in the PEA is enough Scandium to equal 10 times the current worlds supply. DNI is not allowed to keep this info on their website and had to take it off, due to the fact, it is not part of their business plan. It is however an asset that has future value and a possible option for a change of business plans when these become economic.
http://www.miningweekly.com/article/dni-adds-scandium-to-alberta-projects-products-basket-2014-04-09/rep_id:3650
DNI Metals DMNKF Since the pop in gold during March and April I was expecting a dip an gold and posting about the potential this tiny company DNI metals has, along with all the potential catalysts. Still calling this a great opportunity that will shock the market and the cost to enter is rising.
Todays news. They added 2 new directors both heavy weights in the Lithium Ion battery and fuel cell technology. You have to ask, why would these guys come on board a $2M MC company?
http://thecse.com/sites/default/files/investorx/DNI/1605251019568256.pdf
Paul L. Hart, MBA, CPA, CA
most recently as Chief Financial Officer and Corporate Secretary for Electrovaya Inc., a Lithium Ion Battery manufacturer based in Mississauga, Ontario, Canada.
Dr. Ravi B. Gopal
Ravi has spent the past 25 years in clean energy technologies such as hydrogen, fuel cells and Lithium Ion batteries. Previously Ravi was the Vice President of Applications Development at Hydrogenics Corporation. Hydrogenics is a fuel cell manufacturer, based in Canada, (NASDAQ: HYGS, TSX: HYG)
Gold headed down again. Havent been able to pull the trigger on much of anything lately as Im saving some coin for the summer dip. Most valuations are high relative to the metals prices and the easy money has been made until we see the next leg up in gold.
Chipped at some more Gowest at .075 otherwise Ive been sitting tight waiting for a favorite miner to get priced cheap.
GORO down 15% today after running up over 200% this year. Traded at $31 few years back so still room for a 10 bagger from here and a 30 bagger from Jan this year plus one of the few miners that has paid a significant dividend through the entire down turn in gold.
Of interest for GORO are 3 areas that are near ready to add production, plus exploration in Nevada that could provide some catalyst. A sucessful US property and a US traded symbol will help when gold sentiment gets into full swing. They have spare capacity at their mill, plus they are getting ready to fire up their pit.
At $3 Im watching very close. Couple more down days in gold will allow us to pick up our favorites at better valuations. Hoping to get GORO down near $2.50.
EXN.T Excellon Res Q1 Production and Financials numbers out.
No surprises, The dewatering program is working well and there actually ahead of schedule. Phaze 2 is starting now.
Q1 AISC of $16.98 but $11.72 in March as they accessed the 1,000 g/t Ag Rodilla Manto that was previously under water.
From the release
"In late February, we accessed the Rodilla Manto, approximately seven months ahead of schedule as we encountered mineralization outside of the Platosa resource block model and dry mining conditions facilitated rapid development. A significant amount of this 'bonus' mineralization was ultra high grade, with approximately 1,600 tonnes of ore produced from Rodilla during March grading over 1,000 g/t Ag, 10% Pb and 10% Zn. This ore was blended with lower grade and low-cost stockpiles to improve mill recoveries and concentrate payability. We are currently developing into the next level of the Rodilla Manto and expect the continuing optimization program at Platosa to deliver further operational improvements as the year progresses."
The dewatering program will be completed during the second half of the year with continuing improvements throughout the year. What were waiting for here, is the water level to lower, allowing them to access the 1777gpt AuEq ore. At this point the PEA calls for $15 Million CF per year at $17 silver and an AISC of $9 for years 2016 - 2020. Since they are scheduled to have about $3.5 million less in CAPEX than the PEA estimates, these numbers should improve by about $1M CF per year if you do the math.
Excellons recent rise in price came, when the market figured out this was going to happen and Eric Sprott put in his $3 M
Next catalyst will be when further dewatering produces reported cash flow numbers that some investors must see first. The grades they pull will be second to none in all of Mexico.
So with current market cap, and $1.25/share, they are trading at about 4.5 x Future 2016 cash flow with an improving balance sheet. Still represents a near guaranteed re rating at $17 silver and even more at higher prices.
Checkmate28 glta
GWA.V. traderfan Re your personal mail. I don't subscribe so I can't reply personally but here goes. I alluded to this on the SH board. I also know the company reads that and I thought this was too personal for that board.
The largest shareholder besides Future Fortune was Pat Sheridan. He died couple years back. He is legendary in the mining business. GWA actually named an exploration Zone after him called the Sheradan Zone. The family has the shares and they want out. When Gowest bought out the royalty, they bought it from the Sheridans with shares because they didn't have cash. Guessing around 15 million in all. Fortunately for them and us, there are a lot of people want the Shares now because the value is obvious with everything else having run up. This overhang has been there for a couple years holding the price down while they drizzled out any shares they could into any volume they could see. Auditionally there are probably some shares coming through from the last flow through financing.
Few more points I think we worked through most or all of that, so there could be some blue sky.
I think I know something else too. Now that sounds like a Kozuh line, LOL
I think I know they got another permit and they're waiting on only the last air and Noise to be signed off on. Why they don't PR the stuff I don't know.
The rumor is, a lot of the buying is coming out of Timmons and that makes me feel very good. They know the inside scoop better than anybody else and mining is what they know best.
Additionally I am about as close as an investor can get to this company. They were very concerned that I vote my shares at the AGM. After hanging up and thinking about that for a minute, I realized they might be worried about who's buying all the shares. And now that's got me wondering? is anybody making a run at the company knowing they could scoop up the low-hanging Sheradan shares cheap? Future Fortune? Hate to think so.
Checkmate 28
LC As to DMM Robert Washer cant risk misleading the share holders. They are threatening a class action lawsuit already. Plus he has Millions of his own personal money wrapped up in the company. He has to make this work. I met him at PDAC. That Dynasty property is very high grade and gold is at surface. They can get that up and going quick. About 6gpt for a pit and trucking will be less than a gram in cost. That leaves a lot left over for bills and the loan. The loan should get the payroll and production at Zurma going again. 2 mines pushing to the one mill. If this works there is MUCH more upside.
TK Tinka I always talk with Mike Ballanger when I go. He sits in the TK booth last couple years. The play there is to drill off the new zone and sell to BHP for a billion. I agree the timing is about green for zinc. I had my finger on the buy trigger when it was around .13, than it popped away. Still my zinc play because its cheap and I understand it until I find something better.
As to SBB and CDB hope you got in early. I had a look at them when you last posted and I liked Sabina alot. Being in Canada and if they can get the financing, a lot can happen with all those ounces.
DMM.T Dynasty Metals announces that it has entered into a definitive three-year agreement with Green Oil S.A. ('Green Oil') to act as contractor for the development of specific mining concessions within the Dynasty Goldfield project in southern Ecuador.
Looks like Dynasty is off the mat with this deal. Doesnt look like a company thats going bankrupt but more like a company thats going to bounce off the bottom just like I thought. They'll have Dynasty producing high grade in less than 6 mths.
Still a risky situation and not advocating anyone to buy here. I understand their operation fairly well and bought a chunk when they closed the mine and the shares crashed.
PRU.TO Got over my jurisdiction hump and officially joined the Perseus team yesterday. Bought in 2 accounts. The numbers are just to good and I like the near and long term catalysts. The addition of Amara Mining gave them a huge pipeline of high quality future production that could take the company to 600k yearly production long term. Like Dr Air said, they have 74m cash, plenty of cash flow and good CAPEX to NPV ratios to get Sissingue built and bringing production to 300K per year.
If I had to post some DD, it would look something like this
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=121157606
I resisted the buy for awhile for this reason. Dont know why they sold but it created some doubt for me back in March
Mar 11/16 Insiders Bosboom, Martijn Paul sold -40,000 at .400
Mar 11/16 Insiders Elissa Sarah sold -80,000 at .400
About $3k worth of volume all day. There have been a few, Canaccord guy, that are selling at .05 and buying the PP to get the warrants for free.
One thing I forgot to add is the company is working on moving towards a listing on the OTC QX which should help greatly with exposure in the US and more volume.
CPTMatt DNI whatever you're seeing now in the market is just noise from retail Traders from before the reorganization exiting their post-split shares . There are a few that are positioning on the open market, but most are positioning through the current private placement.
Nearly all of the outstanding shares are held closely by a tight group of people who know where this is going and are waiting for DNI to execute their plan, which in my mind will happen near flawlessly and will surprise the market.
From my seat , gold and silver miners have probably gotten a little bit ahead of ourselves and 50/50 could go up or down this summer. For that reason I'm not grabbing anymore Metals companies unless I see a very solid, very near catalyst that is also not seen by everybody else.
As the DNI, I see a rock-bottom opportunity to grab something that is going to go up a lot in value next 6 mths if they execute. My DD leaves me with a 95% chance they're going to execute.
You can find five reasons not to buy this company right now, but when Shares are sitting much higher near-term, none of them will matter.
Ive been out all day but just noticed there are 92k shrs available at .045 and about 50k at .05. In my opinion a gift.
for current prices and Market depth
http://thecse.com/en/listings/mining/dni-metals-inc
Everyone do your own DD and these are just my opinions everyone do your own DD and these are just my opinions
Also this is posted from my phone speech to text and I can only see about 20% of my posting hopefully spelling and
/dni-metals-inc
LC DMM.t Dynasty Metals +90% today at one point. Whats your take on todays news and current valuation? I quadrupled my position Mar 31 per my post on stockhouse (below) when the mine basically came to a screech due to the CF crunch. To much value and potential for them not to pull out enough value to move the shares nice on a bounce. I likened it to what AUMN did to pull the shares from .15 to .94 in a few months time. I couldn't get to the computer to sell today for a quick 80%. Probably tomorrow.
Risky speculation. Market cap still only $10 M Receivables might be $16M. If they raise say $8 to 10M cash, they could have both mines cash flowing within 90 days, Zurma would CF immediately with $1250 Au and they could start paying the loan in June
Whats your crystal ball saying?
----------------------------------------------------
Its dire but there is opportunity Checkmate28 April 1 2016
Londry and Marbob1 You both make great points and I am agreeing with you. You can buy the shares now at a $6M MC. Throw in $10M receivables for a $16M EV.
Now this is my opinion and I claim to know much less then the true longs like TAD and others who could pic at the details, but heres my reasoning, and the reason I added 2 times yesterday and will add at the sight of more weakness.
While they are in a dire situation, and obviously going more negative on CF, there are too many assets, too much infrastructure and too much near term potential for this to fall apart. They look to be about $10 M away and 6 months of time from being a profitable gold mining company with a nice growth profile. 6 mths time, being what I guess it takes to get Dynasty pit producing and Zaruma under control. They could work with suppliers to wait until Dynasty is running or be part of a painful reorganization. The cash would solve everything as all inefficiency's now, are due to not enough cash to get things done properly.
http://www.stockhouse.com/companies/bullboard/bullboard/t.dmm/dynasty-metals-mining-inc#kpvS025wDDGDkK20.99
EXN.T +22 % Opps now 30% solid 500% this year The CEO Brendan Cahill bought some at .205 That was inspiration for me in Nov Amazing thing to see another 1X Bagger added on a 20% move today on my .22 shares.
If you saw a silver miner with a 65M Market cap, that will produce at a rate of 3.5 - 4M oz AgEq this year and be cash flowing at a rate of $10 - $20M by end of this year at a cost of $9 AISC, that company would be a great buy and compare favorably with anything out there. That companys name is Excellon. This story was crystal clear in Nov and Dec when I was posting to buy the shares in the low 20s
Ive sold 50% of my shares, taking a step back and waiting for a sell in May summer pullback on most of these run up companys.
Only thing Im buying last week and this week is GWA Gowest Gold and DNI Metals. Gowest gold has a great story, top not notch real estate, great resource, great low CAPEX Low IFF Pre Fease. Great value and one of the last companys that has not moved up. Id be taking advantage of the large seller last week and banking on the snail paced Ontario government to issue the final permit, thereby uncapping the value and allowing for the bulk sample and progress towards full production. Good chance GWA will get noticed in a big way when the final permit is issued. Insider Frazier bought 280K at .07 last week giving me the confidence to add. He only holds somewhere near 14M shares.
Ill post on DNI soon. Going to be a short term 3 Bagger and on from there. Thats my call.
Lithium ion battery is 60% graphite
Fuel cell is 70% graphite
Wind and Solar need graphite for the storage component
Only a matter of short time before the battery factorys are screaming for low cost quality graphite
CPTMatt DNI.c Great work. Proofread my last post. Heres the reprint with some holed filled in.
Zinc property acquisition (not yet closed)
Copper property acquisition (not yet closed)
Silica sand exploration on one of their properties
Of those, they are keeping, one base metal company for the cash and future cash for the asset
The Silica property This again is a poly metallic property with some fracking potential. No interest here now.
The acquisition was for the cash. They have no interest in the base metal property and can sell them off later.
Mineral lab: They have enough to close it, but are working on the last $ that will carry the property through drilling, NI43101 resource and the PEA meaning no need for further financing through PEA. There going to get that closed before they even start. I have a group thats going to help this week.
When there done with the acq and the raise, the'll have less than 90 M OS with 40 Mil warrants at .10
When they close the Lab and start drilling (in 6 mths time they will have the entire property, drilled, shipped to the lab and assey results in, due to no rock saprolite and the fact their lab will handle the cores under supervision) Thats a hard to believe statement but part of the reason for the surprise for the market. The market will catch on and the 1.5 M market cap will be no more. This is a world class property and its 40km to the port with the major highway going straight through their property. The $4 M in warrants will come in and they'll use that as the down pmt on the 10 - $15M needed for the processing set up. With the finance studys and CF from the lab, they should be able to finance the rest from the banks. This will allow them to process with costs at $500 or less per ton where as all of the Canadian producers are at $1000 - $1200
Now the real beauty. DNI is already fully permitted. Challenge, Find a Canadian graphite miner fully permitted? Energiser resources, also in Madagasgar, just press released today, they raised money to file for their permits. Their investors are excited I see on the boards. Little do they know, its free to apply unless they are greasing somebody
Matt Yes I think they are that good. Call Dan. Mention me. If it plays out like that, put a multiple on 10 cents a share earnings for future share value on the mine alone. Purchase shares at .05 now.
As to the listing, they have plans to list on the OTC QX very soon as they know the CSE is slowing things down.
DNI is the perfect storm right now.
Checkmate28