Value Microcaps Junior Miners

[Lone Clone]

TUO, IAU, CCW, HMLO, WHE, KRR, IPT

Seabridge Mining released some negative news for Teuton Resources aka TUO and its JV partners on the Treaty Creek project in BC's Golden Triangle. It's too complicated to explain fully here, but basically SEA and Tudor Gold have been fighting over the rights to portion of land that Tudor thought it has staked but that SEA swooped in grabbed, Tudor Gold had applied for SEA to lose their License of Occupation, but today it was announced that the attempt was rejected by the BC Ministry responsible. This is important because that stretch of land was vital for the development path the JV partners had developed for Treaty Creek. I guess it is back to the drawing board, unless TUD and SEA can negotiate some kind of deal.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34484038

i-80 Gold aka IAU released another set of drilling results from its McCoy Cove gold project, one of three Nevada mines IAU is currently bringing into production. McCoy Cove already has a reputation for high grades, which will be further enhanced by the initial results from the Helen zone, like 25.4 g/t Au over 20.1m, 28.0 g/t Au over 10.4m, and 21.0 g/t Au over 10.8m. Even better, these first drill holes are located at the western extent of Helen, so we can expect even juicier intercepts as drilling moves into the core of the deposit.

In addition, drilling in the CSD/Gap zone generated more positive intercepts like 15.7 g/t Au & 16.8 g/t Ag over 4.5m, 7.6 g/t Au & 2.0 g/t Ag over 12.2m, and 21.8 g/t Au & 4.8 g/t Ag over 10.3m. There are still 12 holes for which assays are pending, as well as approximately 80 more holes planned. In the meantime, IAu continues environmental baseline testing necessary to receive permits. As well, we can expect an updated Resource Report and an PFBS next year

https://www.siliconinvestor.com/readmsg.aspx?msgid=34484053

In response, Scotia released a new analysts report on IAU. They called the impact Positive, noting particularly how Helen is shaping up, but kept them at Sector Outperform with a target of $4.50.

Earlier this year, Canada Silver Cobalt Works aka CCW undertook a stripping programme at the Miller Lake area of this their Castle Mine property near Cobalt, Ontario. They were able to find some promising gold showings at surface, which will now be followed up by a short drill programme designed to investigate the surface gold as well as extending the holes deeper to look for silver mineralization, as the 'gold on top, silver below' pattern is common at Castle.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34484968

Hemlo Explorers aka HMLO released the results of a seven hole drill programme along the western side of their Project Idaho property in Ontario, where they are looking for mineralization similar to that found at the nearby Marathon Cu/Pd deposits being developed into a mine by GENM. They did find many instances of similar geology but alas, the assays are reported in ppm. That said, they are already planning for followup exploration next year, which they hope will yield more meaningful Cu/Pd and Cu/Ni/PGM intercepts.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34485049

The seemingly endless wait for drilling to get underway at Western Exploration aka WEX's Aura Gold/silver project in Nevada is over at last, as we finally get some assay results from a hole designed at a 250m step out from the Gravel Creek deposit. Fortunately the results are very good, as they found multiple intercepts of high grade mineralization like 4.7 m of 9.20 g/t AuEq (4.55 g/t Au and 395.4 g/t Ag) and 2.0m of 21.96 g/t AuEq (12.77 g/t Au and 780.9 g/t Ag). Even better, the mineralization is at the same level as that already found at Gravel Creek, raiding the possibility of continuous mineralization all the way from Gravel Creek.

As a result, even before getting the assays from the remaining hole, they are organized for further exploration of this new mineralized corridor. Myself, I am just glad that I only took a small initial position, because the extended delays really cratered the share price. I may add at some point.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34485079

Australian gold and nickel miner Karora Resources aka KRR released updated Resource reports on a number of their projects. They were able to add 249koz Au, an increase of 18%, to their M&I Resources now 1.8M oz Au net of mining depletion, while also increasing the grade by 8%. They were also able to increase their P&P Reserves by 6% to 575k oz Au.

This last year's drilling also increased KRR's nickel resource to 22.3kt Ni @ 2.9% plus an Inferred Resource of 13.4Kt @ 2.7%.

As KRR comments, these latest mineral inventories significantly increase mine life, and given their multi-year record of consistently increasing Resources and Reserves above and beyond mining depletion, I expect this growth to continue in coming years.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34485143

Mexican miner Imapct Silver aka IPT released their Q3 results, a mixed bag. On the one hand, revenues from their operations at Zacualpan were up 26% over Q3 last year, but costs were up almost as much, meaning yet another quarter around break even, primarily thanks to them being able to sequence mining to increase Au production (along with the usual Ag and Pb). Also during Q3, they restarted production after doing upgrades at the recently acquired Plomosas Zn mine, and continue to project it becoming profitable as they increase production.

IPT remains in good financial shape, with a cash stash of $8.9M and no debt. Now we wait to see whether the recent initiatives and easing of foreign exchange rates and inflation in Mexico have a positive effect.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34485188

Of late, Saville has been focused on the inverse relationship between the PoG and the US 10-year TIPS yield. In his latest newsletter, he refines that relationship a bit, showing that over the last few years, it is not necessary for the TIPS yield to decline for the PoG to increase. Rather, as long as gold's fundamentals are supportive, all that is needed is for the TIPs yield not to go up. In fact, he goes a bit further and opines that all we will need for gold to make new ATHs next year is for the TIPS yield to stay below the high of 2.50% high it made on October 6th.