Value Microcaps Junior Miners

[Lone Clone]

EDV, KRR, CEE x 3

West African gold miner Endeavour Resources aka EDR announced they have renewed their Normal Course Issuer Bid for another year. Subject to the usual conditions, they can repurchase and cancel up to 5% of their outstanding shares, which amounts to 12,259,943 shares that could disappear. Note that under last year's NCIP they were entitled to buy and cancel about the same number of shares, but ended up cancelling 3,143,564 shares at an average cost of $28.73.

https://ca.finance.yahoo.com/news/endeavour-announces-renewal-normal-course-070000109.html

We already knew that Australian gold/nickel miner Karora Resources aka KRR had a bang up Q4 and full year 2023 production-wise; now we get to hear about the money We learn that costs were higher than expected in Q4, primarily due to a now-remedied but expensive equipment failure at the Higginsville mill, as well as holding back nickel sales, which are counted as a byproduct credit to the gold production, till nickel prices recover. As well, earnings were down in 2023 compared to 2022, again due primarily to one time non-cash charges. As a result their cash stash stayed about the same in Q4 as they ended the year with $82.5M on hand, a 20% increase from year end 2022.

This was a big year for expenditures for KRR as they continued to develop new minerlaization and upgrade mills while integrating their purchased assets, so, assuming the PoG cooperates, I expect KRR to generate abundant cash flow and profits this year.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34613132

African gold miner Centamin aka CEE reported their 2024 annual results. We already knew that it was a good year for CEE, as production at Sukari matched guidance with costs below guidance. However, now we learn that earnings were less than expected, but also that this was due to one-time costs, primarily depreciation on exiting assets.

Reflecting the company's strong financial position, their cash stash has grown to $153M and no debt. The company also reiterated 2024 guidance of 470-500k oz Au production at a cash cost of $700-850/oz.

In 2024 we can expect the release of an FBS for the Doropo project in Cote d'Ivoire midyear, around the same time as an exploration update on their recently acquired EDX exploration prospects in Egypt, and connection of Sukari to grid power by the end of the year along with the release of a study into expansion of their solar power plant.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34612075

CEE also put out two related PRs that contain interesting information.

The first details all payments made to governments last year. The bulk of the $141M was profit sharing and taxes paid to the Egyptian government in relation to CEE's producing Sukari gold mine.

https://ca.finance.yahoo.com/news/centamin-plc-announces-payments-government-070000009.html

The second details how CEE arrived at its 2023 dividend payments, which amount to 55% of available cash flow.

https://ca.finance.yahoo.com/news/centamin-plc-announces-2023-final-070000104.html