Value Microcaps Junior Miners

[Lone Clone]

KTN, MTA, ODV

Kootenay Resources aka KTN announced they have filed a base shelf prospectus which 'allows the Company and/or selling security holders to make offerings of common shares (including by way of an "at-the-market distribution" in accordance with applicable securities laws), warrants, subscription receipts, units, debt securities or any combination thereof for up to a maximum amount of C$40 million during the 25-month period over which the base shelf prospectus is effective.'

They reassure us that this filing is just to increase financial flexibility,, and that there are currently no plans to implement it, but one has to wonder why they went through the hassle of setting this up.

https://ca.finance.yahoo.com/news/kootenay-silver-files-final-shelf-002400870.html

Metalla Royalty & Streaming aka MTA released its 2023 results. Unfortunately, they were a little disappointing. I acquired my MTA shares though the takeover of Nova Royalties and had hoped for better, but I will continue to hold in the expectation of better days to come.

Expectations were for MTA to lose 1 cent a share in 2023, but the actual loss was 3 cents. Q4 delivered GEO (gold equivalent ounces) of 1.1k oz, which means they will easily beat 2023 guidance, but this was offset by lower than expected 2024 guidance of 2.5-3.5koz, well below expectations. It is noticeable that they have taken a conservative approach, so I am hoping they are able to exceed guidance again in 2024.

MTA remains in good finacial shape. At yea rend they had a cash stash of $14.1M vs. total debt of $16.6M.

BTW, smaller streamers like MTA are almost always are taken over or execute a merger, and that is my expectation for this stock. I just hope we get a good price when it happens.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34622218

FWIW, in response BMO issued a new analyst report on MTA that Kept them at Market Perofrm but lowered the target from $8 to $7.

I guess we have to give the management at Osisko Development aka ODV some credit. By warning us a few weeks ago that their Q4 and 2023 annual results were going to be terrible due to a large noncash writedown, and then releasing the results themselves after market close before a long weekend, they did manage to avoid too big a hit on the share price.

And this in spite of poor Q4 at their operations, as they sold only 2090 oz Au, most of it from the Trixie mine in Utah, with the rest of it from processing stockpiles from the Cariboo gold mine in BC. (There have ceased production from San Antonio in Mexico pending resolution of permitting issues,) FWIW, they did manage to make a profit on the sales, as revenue exceeded cost of sales. However, at year end their cash stash was down to $43.5M.

Also note that they have ceased test mining at Trixe for the time being.One other note of hope is that in spite of missing with their first attempt, ODV have two more holes underway at Trixie searching for the underlying porphyry.

This is a tricky time for ODV with two mines potentially under construction in the near future. Let's hope management can, well, manage the process successfully.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34622322

Reviewing the monthly charts, Saville confirms the PoG breakout, with $2300 being his near term target. As a consequence, he expects HUI to test long term resistance at 370 later in 2024, but first it needs to get though resistance in the low 250s . He also expects silver to outperform gold over the next 12 months, and mentions a potential target of $40.