Value Microcaps Junior Miners

[Lone Clone]

ODV, EDV, HMLO, KRR, GOT

Of late, the news we have been getting from Osisko Development aka ODV has been all about exploration on its Tintic project in Utah, and this has not been enough to keep the share price from declining. (To be fair, the entire sector has been in decline of late.) But maybe today's news might help to arrest that decline as we await the turnaround of sentiment in the sector.

Today's NR announces the granting of a permit for the development of their Cariboo gold mine in BC. It actually has larger import, as this is the first permit granted under the new provincial regulatory regime which requires input from affected First Nations. It is no coincidence that this PR quotes endorsements from all three local First Nations. I have been listening to coverage of this event, and some of folks in the town of Wells, on the verge of which the mine will be built, are worried about it affecting the tourism which drives the local economy, but there is no doubt overall local sentiment is in favour.

ODV anticipates finishing the permitting process in Q1, and then comes the hard part, raising the money and building the mine. Notably, this PR mentions neither.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34444385

West African gold miner Endeavour Mining aka EDV doesn't mess around. At the beginning of this year they announced that Tanda-Iguela in Côte d’Ivoire would be their main exploration target, and that to that end there would be a large 70km drilling campaign. I think they are impressed with what they have found so far; today we get an update on that drilling, telling us that they have already completed 108km just at the main Assafou deposit plus another 15km at satellite deposits, and that they expect to complete over 180km of drilling by year end.

Through these efforts, they have been able to extend the strike length of Assafou to 3.3 km., with the headline assays including 71.5m @ 5.29 g/t Au, 41.9m @ 5.55 g/t, Au 70.3m @ 2.94 g/t, and 37.4m @ 3.43 g/t. Au. Several of the satellite deposits are also very promising, including Pala Trend yielding 11.0m @ 9.70 g/t Au and 10.0m @ 3.07 g/t Au and 3.0m @ 47.25 Au g/t on the Kongojdan target.

Based on how EDV has been allocating resources, I expect Tanda-Iguela to be developed very quickly. To that end, they have begun the environmental permitting process and will deliver an updated Resource Report before the end of this year. I expect economic studies are already underway but will only be announced in the wake of the new Resource Report.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34444409

Hemlo Explorers aka HMLO released an update on the Pic gold project in Ontario, on which ABX is earning up to 80% ownership under a JV agreement. Barrick is known for being sparing in the information they release concerning projects JVed with juniors, but we can glean enough from this PR to get a very positive impression.

First, ABX has already spent double what they were required to in the first year of the agreement well before that year has elapsed. And they are being very assiduous, running geophysics and sampling programmes not just on the known targets but also across the unexplored portions of the property. As well, they have re-assayed historic core from the property.

We get no numbers in this release, primarily because almost all the assays are still pending. But knowing how ABX approaches these things, we may never get any of the assay results. Whether we do or not, the key datum will be whether ABX continues the exploration. That said, we do get a map displaying some till sampling results which look very promising.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34444639

Australian gold and nickel miner Karora Resources aka KRR released a brief NR giving us a first look at their Q3 results, and I would call them solid. The managed to produce 39548 oz Au this quarter, pushing the 9-month total to over 120k oz and setting them up well to meet or exceed the top end of their 2023 guidance of 145-160k oz.

We are also told that KRR added over $15M to their cash stash, pushing it to $84.2M. We'll get more details when they release their financial results.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34444647

Goliath Resources aka GOT announced they have closed their gift to insiders in the form of a PP priced way too low. Now that that is out of the way, I am waiting to for the share price to hit my target so I can sell my shares (which will be at a loss, but good riddance anyway). I have a new company in mind for that money which I will reveal when the time comes.

https://ca.finance.yahoo.com/news/goliath-resources-limited-closes-final-145700858.html

Saville still sees no evidence that the correction in the PoG from its May high is over, but also notes that it is currently as oversold as it ever gets. A well, it continues to hold above the March low in spite of the downward pressure exerted by the 10-year TIPS yield making a new high. He also see signs that the gold stocks are making a bottom, albeit not yet confirmed by the tecnicals.