Value Microcaps Junior Miners

[Lone Clone]

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