Value Microcaps Junior Miners

[Lone Clone]

KRR, KTN, RRI, IAU

Australian gold/nickel producer Karora Resources aka KRR released a PR containing updated guidance for 2024. They produced just over 160k oz Au last year, and in 2024 expect to increase that to 170k-185k oz Au at an AISC of $1250-1375/oz Au. As well, they plan to produce 200-300t Ni, which is treated as a byproduct and therefore reduces the AISC for the gold. (Note that they have deferred some nickel production until the price recovers.)

To achieve this growth, KRR projects spending between $110M and $140M on exploration, mine development, and equipment and personnel additions. This expenditure will also allow KRR to reach the 2.0Mtpa production level at Beta Hunt they set as a goal three years ago.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34600960

Kootenay Resources, which is currently an unlisted company hived off by Kootenay Silver aka KTN, has announced that they have been approved for conditional listing on the TSXV, prior to which they will have to complete a $500k PP and satisfy certain other requirements. Not that if this is completed it will also make available other funds currently held in escrow.

Kootenay Resources was created to hold a number of KTN's BC prospects, including three wholly owned Ag/Au(/Cu) properties on the Nechako Plateau and three others that are currently optioned out to other companies which are paying for work programmes. The company aims to use its deep knowledge of this area of BC to generate and farm out new prospects in the future.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34603578

Speaking of prospect generators, one of the best in the biz is Riverside Resources aka RRI, and we get proof of that with their latest NR, which concerns Cecilia, a 100%-owned district scale gold and silver, low sulfidation epithermal system located 40 KM SW of the Mexico-U.S.A. border city of Agua Priet in Sonoro, Mexico. Cecilia covers over 60 sq km and hosts at least 10 promising exploration target, including at least two nested dome complexes, which can host enormous amounts of PMs.

It is a measure of the respect given RRI's geologists that even though Fortuna Silver aka FVI can earn a majority interest in Cecilia, RRI will remain as operator of the exploration programme. FVI has five years to earn 51% ownership by making cash payments and meeting work commitments, then can increase that to 80% over the next three years by meeting similar requirements. After that there will be a 120 day period during which FVI can earn 100% by paying RRI $5M and granting them a 2% NSR.

RRI will also be compensated for all fees and paid to operate exploration. It is expected that this programme will begin shortly.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34603601

Nevada gold miner i-80 Gold aka IAU reported its Q4 and full year results. IAU is still primarily a developer rather than a producer, with 3 new mines underway, but still managed to sell 3350 oz Au from Granite Creek and residual leaching, and for the first time they sold substantial amounts of ore from Granite Creek, i.e. 61,223t mineralized material sold (29,512t sulfide mineralized material) for total revenues of $19.0M.

As a result they ended 2023 with a cash stash of $59.8M ($44.5M of it restricted). If you follow IAU, you will known that earlier in 2024 they completed a PP at a price of $1.80/share for $23.4M, which at the time cratered the share price down to the $1.80 area. I bought several tranches of shares around that price, which so far has worked out well, with the share price hitting $2.20 today. My current plan is to sell at least some of those $1.80 shares when the shares hit $3, but plans can change....

https://www.siliconinvestor.com/readmsg.aspx?msgid=34603683

Both Saville and IKN has been telling us about how big money remains uninterested in gold. As a further sign, notice how last week's breakout in the PoG to a new ATH was barely noticed in mainstream financial coverage. Now Saville adds to this by going through the latest COTs report to show how 'dumb money' also remains skeptical of/disinterested in gold. As well, he points out how gold stocks have not reacted much to the move in the PoG so far, but are starting to show signs of strength.

And IKN this weekend makes a long and detailed set of arguments that what happened last week was that the ETFs are no longer able to supply the constant demand for gold from jewelry fabricators as they have done since the pandemic hit, creating a new demand.

And later Saville pointed out that $GOLD now has an RSI over 80 on the daily chart, which generally happens near a multi-week top during the early or middle stages of an intermediate-term rally.