Value Microcaps Junior Miners

[Lone Clone]

CEE, HMLO, IAU

Perhaps the biggest problem the new management at Centamin aka CEE has faced with their Sukari gold mine in Egypt has been dealing with a poorly functioning underground mine. The old management developed the open pit without regard to how it would affect the higher grade underground ore, leaving much of it unsafe to access, and, as it turns out, their geological modeling of the deposit was incorrect. New management went back and resampled kilometres of core and were able to develop a new resource model, which along with some new drilling was able to more than double the underground reserve. This is turn which in turn engendered a new economic study, released today, which supports a one third increase in underground mining rates, from 1.1 Mtpa to 1.5Mtpa.The study says this would cost only $25-35M and could be completed by 2025.The next step will be an engineering study due by the middle of 2023.

If CEE can carry through these plans as laid out, it should cause a significant upward revaluation of the company.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34081110

Hemlo Explorers aka HMLO released an update on their Project Idaho prospect in Ontario. It is located 3 km east of the Marathon Pd/Cu deposit GENM is developing, and the HMLO geologists have been collecting evidence that indicates the mineralizing system that created Marathon extends onto Project Idaho. Based on previous geophysics and reconnaissance, they collected samples in several target areas that are enriched in both Au and Pt. They say in this type of deposit it is not unusual for the Pd/Cu to 'decouple' from the Au/Pt as the result of local conditions, lending further credence to their theory.

This certainly sounds promising, but it is still early in the exploration process. As well, the assay values are low enough to warrant the use of the ominous term 'anomalous'. Much more work needs to be done, which includes a drill campaign next year.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34082661

FWIW, The IKN people, who track insider buying, released another new report on i-80 Gold aka IAU, highlighting that CEO Evan Downie bought another 5000 shares on Nov.15th. They also report that IAU has above median insider ownership compared to other midcap Basic Materials stocks.