Value Microcaps Junior Miners

[Lone Clone]

MIRL, RIO, SSL, NSR, IAU, NRN, MIRL, KTN,, TUO


MIRL, RIO, SSL, NSR,

Minera IRL aka MIRL released its Q2 finacial results. Although both gold sales from their Corihuarmi mine in Peru were up and they got a better price for it than they did in Q1, they still managed to lose $3M dollars in the qurter. Meanwhile, there is a huge debt hanging over them, there is no news on financing the build of Ollachea, and they still have a larcenous overpaid CEO who uses the company to pay inflated salaries to family members and friends who are unqualified for their jobs.

And the IKN newsletter points out that MIRL has taken out a loan of $2M on which it pays 3% a month (!!) interest. No word on the loaner, but I bet they are somehow connected to the crooked CEO.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33962887

We heard from Rio2 aka RIO, currently embroiled in a standoff with the new Chilean government concerning the development of their Fenix gold project, that 12.6M warrants held by Eric Sprott had expired unexercised. But don't feel too sorry for Uncle Moneybucks; he still holds more than 10% of RIO's shares.

https://ca.finance.yahoo.com/news/eric-sprott-announces-holdings-rio2-123000108.html

Sandstorm Gold Royalties aka SSL announced they have completed the takeover of Nomad Royalties aka NSR. With this and the other recent large transactions, SSL is attempting to take a step up the ladder of royalty companies. We'll see if the market agrees..

https://www.siliconinvestor.com/readmsg.aspx?msgid=33962915

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

IAU, NRN, MIRL, KTN, SSL

As they prepare four separate gold mines in Nevada for production, i-80 Gold aka IAU continues to deliver a steady stream of drill results with grades that most of their peers can only dream of. The latest set of assays comes from the 426 zone, the upper portion of Ruby Deeps at their past- producing Ruby Creek property. Check out these headline intersections -- 13.9 g/t Au over 13.4M, 9.7 g/t Au over 23.2M, & 15.6 g/t Au over 12.2M. The 426 zone is expected to be the initial mining area at the Ruby Creek underground mine they are building. Other good news from the drilling is that ground conditions appear favourable, and that they have found some easier to process oxide ore in the upper reaches of the zone. And on top of that, they intersected multiple mineralized structures in some holes, indicating the potential for further exploration upside.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33964004

Northern Shield Resources aka NRN released an update on exploration at their Root & Cellar gold/copper prospect in Newfoundland. One thing these guys are good at is generating new targets, and they have found some more here. Alas, what they have not seen good at, so far, is generating targets that amount to anything. Whether this will break their years long streak of misses, only time will tell.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33964034

Onw wonders why Minera IRL aka MIRL has released a short PR announcing that gold shipments from their Collahuasi mine in Peru in July had increased from last July's number, given that a similar circumstance has occurred many times over the years. Is the crooked and overpaid CEO feeling the heat? Is this simply a distraction? "Look over here, don't pay attention to that..."

https://www.siliconinvestor.com/readmsg.aspx?msgid=33964041

Kootenay Silver aka KTN released another set of drill results from its Columba Ag/Pb/Zn prospect in Chihuahua, Mexico. These six first holes from the latest campaign were designed to extend mineralization in The D and F veins, and that they did, extending both along strike and deeper, with mineralization remaining open in all directions. Headline assays included 11.3M of 449 g/t Ag, 0.3% Pb, and 0.66% Zn, and 1.M averaging 1395 g/t Ag, 0.94% Pb, and 5.3% Zn.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33964076

FWIW, in the wake of yesterday's takeover by Sandstorm Gold Royalties aka SSL of Nomad Royalties aka NSR, TD released a new analyst report assessing the impact as Neutral but keeping them at Buy and raising their target by 50 cents to $10.50. The do expect them to make more acquitions based on cash on hand, ongoing cash flow, and space left on their credit line.

~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

KRR, TUO, SSL

It's bonus time for Karora Resources aka KRR. While their Australian mining operation runs on regular gold and nickel deposits, once every few years at the Beta Hunt deposit they come across 'gold boulders', which they call coarse gold. They don't know the full extent of this occurrence, but it is directly below the Father's Day vein discovery, which yielded 30k oz of Au over a 10M strike length. These discoveries are not included in their guidance or financial projections, so if this new discovery is anywhere near that size it will add significantly to the bottom line.

Warning: gold porn is visible at this link.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33966910

Teuton Resources aka TUO released an omnibus press release covering a number of its properties in BC's Golden Triangle.

First up, we hear about another six holes completed on the northeast area of the Goldstorm Au/Cy/Ag deposit on their Treaty Creek JV, with five of the six being outside the existing resource envelope. Perhaps the most promising assays came from a 280M extension of a previously drilled hole, which found a section that averaged 2.48 g/t AuEq including 0.82% Cu over 166M, with the strength of the mineralization, including silver, increasing with depth. All of the holes, which included stepouts of up to 225M, found lengthy sequences of higher grade minerlaiztion. This monster just keeps on growing.

Next up we hear about their JV with OPV on Harry, a nearby gold prospect. At this point geophysics as well as mapping and sampling are underway in preparation for coming drill aimed at the newly discovered Swan zone.

Finally, we hear that mapping and sampling is underway of four of TUO's 100%-owned properties, Big Gold, Eskay Rift, Pearson, and Tennyson exploring previously defined geophysical anomalies. They have been hampered by heavy snow cover this year but are hoping to be able to get enough work done to define some drill targets before winter closes in again.

https://www.siliconinvestor.com/readmsg.aspx?msgid=33966887

FWIW, BMO issued a new research report on Sandstorm Gold Royalties aka SSL, raising their rating to Outperform but reducing their target to $9. In their words, SSL is now ' the go-to name amongst middle-market royalty/streaming companies' after all the recent transactions.