Value Microcaps Junior Miners

[Lone Clone]

IAU, KRR, MAI, TUO, SVB, EDV, RIO, BTO

It's become almost routine. Yes, Nevada miner i-80 Gold aka IAU has released yet another set of high grade results from its Ruby Hill development project. This time we hear about the final three holes of the recent drilling completed in the Hilltop set of skarn and CRD deposits, this time in the mostly recently discovered East Hilltop zone. How does 13.7% Zn, 0.6% Cu, & 17.5 g/t Ag over 57.8m including 21.6 % Zn, 1.9 % Cu, & 54.6 g/t Ag over 9.5m. strike your fancy? this hole is notable not only for the high grade over a long sequence, but also the first appearance of high grade copper in the Hilltop area.

The PR continues on through a useful summary of all the various deposits IAU has discovered over the two years it has been exploring Ruby Hill, but they remain coy about the identity of the potential development partner that funded this most recent drilling.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34584998

Last week we heard about the latest gold results from Karora Resources aka KRR's Beta Hunt mine in Australia. Now we hear about the nickel drilling results, and they are impressive.

This drilling was in the 50C Nickel zone, which will be accessed from the drive they constructed last year. With intercepts like 8.2% Ni over 5.1m, including 13.7% Ni over 2.6m, plus 12.0% Ni over 2.9m, these drill results should contribute to a substantial increase in the Gamma Mineral Resource, which will be updated later this year. 50C remain open along strike and drilling is ongoing.

Note that KRR has the facilities to process nickel ore on site

https://www.siliconinvestor.com/readmsg.aspx?msgid=34585077

If you are interested in Mexican gold miner/developer Minera Alamos aka MAI, here's an interview with the CEO where he first discusses the details of the 'Plan B' they announced for Santana last week, plus some useful perspective on the current political state of mining in Mexico. Perhaps most importantly, he makes clear that if the permit amendment does come through, which could happen at any time, Plan B is being designed so that they can quickly flip back to Plan A. As well, we learn that Plan B, to produce 20k oz Au over 12 months from known mineralization, could start up as early as next month.

https://open.spotify.com/episode/1uTQuU2lLVc7jjaP3lQz19?si=f5JiYQB3QR2vdeebvVmskA

I have no idea if it will make any difference or not, but some of you might be interested in knowing that BC explorer Teuton Resources aka TUO is now trading on the OTCBB using the symbol TEUTF.

https://thenewswire.com/press-releases/1L5PF2XGD-teuton-resources-trades-on-the-otcqb-in-the-usa-and-is-dtc-eligible-ticker-symbol-teutf.html

Silver Bull Resources aka SVB provided an update on its arbitration claim against Mexico regarding its Sierra Mojada property in Coahuilla, Mexico. SVB has been unable to access the property for years thanks to an illegal blockade which Mexican authorities have refused to take down.

Hence, SVB has filed a claim for $178M in compensation under something called NAFTA Legacy proceedings. A three person arbitration panel has just held its first hearing, SVB is scheduled to file its submission in May preparatory to the actual Arbitration hearing scheduled for October 2025. Given the large amount of money involved, I expected this process to be extended to its fullest possible length by whoever loses.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34586201

We already knew this was going to be a pivotal year for west African gold miner EDV; in the wake of having to fire the CEO, they need to make up for it by smoothly bringing on line the new mines that have been developing.

Today we get an update on the first of these, the Sabodala-Massawa mine in Senegal where production is being expanded using the BIOX process. Construction is now 91% complete, with wet commissioning underway and the first gold pour expected in May. As well, an FBS for Phase 2 expansion is underway and is expected to be completed by year end. EDV is projecting 2024 production of up to 400koz at Sabodala-Massawa at an industry leading AISC of less than $850/oz, with costs expected to continue to decrease in coming years.

So far this expansion project has been on time and under budget. If they can maintain that status with their other growth initiatives they should regain the favour of the market.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34586212

The IKN newsletter brings us a nice tidbit of gold developer Rio2 aka RIO, pointing out that WPM's recent quarterly update includes RIO's Fenix mine, currently under construction, as a future source of gold for WPM, thereby implying that WPM remains happy to be contributing funding to the development of Fenix.

Fwiw, in the wake of B2Gold aka BTO's Q4 results release, BMO issued a new analyst report. Citing Q4 production as in-line with lower cash costs, BTO having enough liquidity to get them through 2024, and construction of the Goose project in Nunavut remaining on track for 1st production Q1 2025, BMO kept BTO at Outperform with a target of $6.50.