Value Microcaps Junior Miners

[Lone Clone]

EDV, MAI, GNG, IPT

We get some more 'interesting' news regarding West African gold miner Endeavour Mining aka EDV. You may recall that they recently fires their CEO after uncovering evidence of serious misconduct. Now one of the deals the former CEO arranged has come under scrutiny, though what really happened remains murky.

A little less than a year ago, EDV announced it had sole two of its mines in Burkino Faso to an African company called Lilium Mining. However, when Lilium missed making two payments totalling over $100M, EDV embarked on a mediation process before the London Court of International Arbitration. Now it comes out during testimony that Lilium is alleging that EDV misrepresented information about the mines.

At this point it is impossible to say where the truth lies. I am hoping it is a fabricated accusation by a buyer attempting to avoid obligations.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34638109

Minera Alamos aka MAI released an update on its Santana gold mine in Sinaloa, Mexico. Alas, no word on the delayed permits for heap leach expansion, so MAI continues to implement its revised mining plan. To that end, contractors have been dispatched to prepare the Nicho Main zone for the start of mining, the ore from which will be processed through the current heap leaches. The Nicho Main is closer to the heap leaches than the Nicho Norte pits which are already in production, which allows for faster stacking, and MAI expects the results of that improvement to be seen starting in Q3.

https://www.siliconinvestor.com/reply.aspx?subjectid=57070&replytoid=34637959&replytype=Pub&OrigType=Pub

Golden Goliath Resources aka GNG released a corporate update. I had thought they had abandoned working on their Wish Ore gold prospect on the Batchewana Greenstone belt in Ontario in favour their their recently acquired REE prospects in Quebec, but apparently not.

Yes, they are planning to do some more exploration on two of the REE properties this summer, but right at the beginning of the PR they declare that Wish Ore will be their main focus this year. So far GNG's exploration has defined two zones with some gold, with trenching and drilling finding low grade gold with almost all the assays under 1 g/t Au. This year they are going to focus on the 3km between those two zones, particularly the stretch where there is a significant inflection in a fault which should have provided a good mineralizaing environment.

First up with be geophysics, followed by a drill campaign.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34637975

Mexican silver/zinc miner Impact Silver aka IPT released its annual results for 2023. Over the years, IPT has fhas carved out a niche as a small high cost producer which has been able to make enough during the times when metals prices are up to more than offset the losses incurred when metal prices are down. based on production from various mines in the Zacualpan silver district . However, 2023 was different, a transformational year as the company acquired and returned to limited production the Plomosas Zn/Lb/Ag mine further north in Chihuahua.

This necessitated much higher expanses than usual, to which were added the ongoing inflationary pressures, so although IPT was able to increase revenues by almost 50% particularly due to increasing gold and zinc production from Zacualpan, they also incurred a larger loss. That said, they remain in good financial shape with a cash stash of $6.3M and no debt.

2024 promises to be another year of transformation for IPT, or perhaps, the completion of the transformation. As well as gradually ramping up Plomosas throughout the year, they are evaluating bringing the Capire mine in Zacualpan back into production. We can also expect major exploration campaigns at both Plomosas and Zacualpan.

As long as silver and zinc prices remain high, 2024 could be a very good year for IPT.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34638005