Value Microcaps Junior Miners

[Lone Clone]

EDV, MAI, IPT, KTRI

After a period of negative news -- firing the CEO, a not great Q1 production-wise -- west African gold miner Endeavour Gold aka EDV must have been relieved to put out a PR contacting good news -- the first gold pour from the Sabodala-Massawa Expansion project in Senegal. Even better, the entire project took less than two years to complete and came in on schedule and on budget.

In spite of the foofarah at the top, this project is another endorsement of the capabilities of EDV's technical team, being the foruth major project they have built in the past 10 years, all completed in less than two years and on budget. And the PR also tells us that their fifth major project at Lafigué will shortly be completed on budget and well ahead of schedule.

These folks know what they are doing when it comes to mine building.

The PR also give us details of an exploration programme at a number of deposits near Sabodala-Massawa looking for more easy to process oxide ore which could provide material for future expansion.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34651496

Mexican miner Minera Alamos aka MAI released its annual results, and as expected they were pretty crappy, with total gold sales from its Santana mine in 2023 totalling only 5041 oz Au thanks to the permit slowdown affecting mining in Mexico. Still, MAI remains in excellent financial shape even as they optimize operations at Santana and prepare to start building a second gold mine at Cerro de Oro, with a cash stash of $13.8M and no debt.

They have been implementing a new mining plan at Santana as they await the permits needed to expand the heap leach. Fortunately, there are signs the woman who is almost certain to take over from AMLO as President of Mexico is much more supportive of mining. She has made specific mention of copper, which is perhaps why MAI just announced a new initiative to develop its Mexican copper properties in conjunction with a new acquisition..

I think this already going to be a decent year for MAI in spite of those permit issues. If they are resolved in time, 2024 could become a very good year for the company.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34652595

If Impact Silver aka IPT were a leopard, it would certainly have changed its spots. For most of the time I have followed IPT, they assiduously refused to do PPs, content to noodle along on their Mexican silver mines at around break even. But this all changed a few years ago as, with no change in management, they became more expansionary and started raising funds, which so far have been used to to buy and bring back into production the Plomosas zinc mine and do preparatory work towards increasing production at their core property, the Royal Mines of Zacualpan.

I am not pleased by the unit price, which is below the recent market price for IPT shares, plus each unit includes a half warrant, but to be fair IPT's share price has been running the last few weeks. The big test will be whether the money actually is used to increase production and profits.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34652625

Some time ago, Kootenay Silver announced they were going to spin out some of the BC projects into a separate company. Now we learn that the new company, Kootenay Resources aka KTRI, has been listed on the TSXV.

KTRI's primary holding is the Moye Anticline prospect in SE BC, which has indicators that it may host a large Cu/Pb/Zn/Ag deposit. They also have PM prospects on the Nechako Plateau further north and west , plus three BC prospects currently under option to Canterra Minerals.

Now that KTRI has been listed, I expect we will soon receive updates about their plans. In the meantime, here is their website.

https://kootenayresources.com/

Saville continues to expect that the PoG will correct to the $2200 area before resuming its upward trend. He also expects silver to follow along, correcting to somewhere around $25.