Value Microcaps Junior Miners

[Lone Clone]

KRR x 2, RRI, WM

West Australina gold/nickel producer Karora Resources aka KRR released its Q4 production results, and as expected, they were darn good. Q4 production was 40295 oz Au, maeaning total 2023 production of 160492 oz, an increase of 20% from 2022 ans also exceeding the top end of 2023 guidance.

We'll get the all-important financial deatils when the financial Q4 comes out in a month or so.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34537768

Karora Resources aka KRR then released a second PR regarding the signing of a long term Powet Purchase Agreement which will replace diesel generators as the primary power source for their Higginsville operations. This is expected to lead to a 20% decrease in KRR's GHG output by 2030, and is to be followed by more initiatives along the same lines.

As usual, KRR astute management is ahead of the curve on this one. Expect many similar announcemnts to be made by other miners in the coming years.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34538925

Prospect generator Riverside Resources aka RRI prides itself on being well-run, so it is no surprise that their latest PR, laying out their plans for 2024, starts out by reminding us that RRI has over $6M in their cash stash along with no debt or warrant overhang, and fewer than 75M shares outstanding.

This year RRI will continue to expand its presence in Canada, including work on recently-acquired gold and REE prospects in BC and Ontario, as well as searching out new opportunities. They have designated the Pichette Au property in Ontario as their top Canadian prospect at this point. In Mexico, where they have a wide range of prospects, including Ariel (Cu), Union (Au), and Cecilia (Au). Also in Mexico, they are hoping to establish a new strategic alliance with a major BM producer, presumably involving their copper assets. BTW, RRI's assets don't include just properties and personnel; they have also amassed a large portfolio of royalties and another of proprietary databases.

I am considering adding to my RRI holding at current prices. (BTW, one way prospect generators like Riverside can reward investors is by developing and then spinning out their properties as separate listed companies, For instance, Capitan Mining aka CAPT was spun out from RRI a few years ago.)

https://www.siliconinvestor.com/readmsg.aspx?msgid=34538012

Quebec gold developer Wallbridge Mining aka WM released a PR detailing their plans for 2024. They expect to spend about $22M, which will be covered out of their cash stash, currently sitting at about $29M..

At Martiniere, which already has 680k oz Au Indicated and 630k oz Au Inferred, the initial 7500m of drilling in March and April will focus on infill drilling to upgrade Inferred resources, while a further 5500m of drilling planned for Q3 will focus on extending known deposits. As well, metallurgical testing, geomechanics, and hydrogeology will start shortly

At Fenelon, their flagship project, 5000m of drilling and further technical studies will be used to refine the economics outlines in the existing PEA. Both the Martiniere and Fenelon work will be used to develop a new PEA combining both projects.

As well, there will be a further 5000m of exploration drilling on regional targets.

In spite of all their work, WM has not been successful at delivering returns to shareholders for a number of years now. This could be a make or break year for them, and perhaps we will find out whether they really plan to develop the mines themselves or sell them off.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34538933

IKN Brings us a reminder that Wall Street remains uninterested in gold, as the holdings in GLD continue to fall, now down to 863mt, and the price/inventory ratio for GLD reached an all-time low of 4.55. (GLD is an ETF that is Wall Street's preferred method of investing in gold.)