Value Microcaps Junior Miners

[Lone Clone]

HMLO, CCW, MAI, IAU, BTO

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HMLO, CCW, MAI

Hrmlo Explorers aka HMLO released an update regarding exploration on their Project Idaho prospect in Ontario, located 3 km from GENM's Marathon Pd/Cu project under development. As you might expect from that neighbour, it's different from HMLO's other prospects, being polymetallic rather than just gold-bearing. Over the summer HMLO did several geophysical programmes, the results for which are still being analyzed, as well as mapping and sampling, which yielded two distinct styles of mineralization, one featuring Au/Pd and the other Ni/Cr/Cu, with the former being very similar to what is found at Marathon.

They have identified three VMS targets with potential for significant PGE/Cu minerlaization, two of them also with potential for Au. These will be followed up with drilling in the coming exploration season.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34059887

Canada Silver Cobalt Works aka CCW finally released some more assays, long delayed in the lab, from the drill programme it carried out earlier this year on its past-producing Castle East mine in Ontario. As with the previous assays, the intercepts are impressive -- up to 2,900 g/t Ag and 1.05% Co -- but narrow, only half a metre in length. They do extend the length of known veins significantly, so if they can continue similar results from future exploration it will be enough to be economic to mine.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34059907

The IKN newsletter did some digging into what happened with Minera Alamos aka MAI's share price last week, and since there are no operational issues, opines that it is likely a combo of tax loss selling and a short attack. This should be transitory and offers an opportunity to pick up a few cheap shares. If I didn't have so many shares of MAI already, I would probably take advantage of the opportunity myself.

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IAU, BTO

Surprise, surprise, i-80 Gold aka IAU reported yet more high grade drilling results. Getting boring, right?

Nope, especially not when the headline assays are 28.2 g/t Au over 17.8m, 39.0 g/t Au over 9.5m, and 20.1 g/t Au over 21.1m.

And not a surprise either, given the quality of the Nevada gold properties IAU has amassed. In this case, the assays come from the Ogee zone on the Granite Creek property. Ogee is located below the existing workings, which are being extended so the zone can be mined over the next year.Ogee and the adjoining South Pacific zone remain open at depth, which will be investigated as IAU continues extending the decline under development.

It is also important to note that much of the mineralization being encountered at Ogee is easier to process oxide ore.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34061175

FWIW, in response Scotia released a new analyst report, calling the impact Positive but keeping IAU at Sector Outperform with a target of $4.26.

B2Gold aka BTO released their Q3 financial results. We already knew their production had come in below forecasts, so it should be no surprise that costs came in well above forecasts, by well over $100/oz Au. But based on what they assure us will be a strong Q4, they once again reiterated 2022 production and cost guidance, though admitting costs are likely to be at the top end of that range. It was approximately a break even quarter, but even though cash flow was down considerably, they are still in a strong financial position with a cash stash of $549M vs. debt of $62.5M.

They also underlined how Colombia has become a non-go country for mine developers under its current government by announcing that they and JV partners Anglo Ashanti have put the Gramalote gold project up for sale.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34062747

FWIW, in response TD put out a new analyst report calling the impact Slightly Negative but keeping BTO at Action List Buy with a target of $8.50. Meanwhile, Scotia called the impact Mixed while keeping BTO at Sector Outperform with a target of $7.50, while BMO kept BTO at Outperform with a target of $7.