Value Microcaps Junior Miners

[Lone Clone]

ODV, IAU, KDK

Osisko Development aka ODV released its Q1 results, and they were not impressive. We already knew most of the content, but new items included telling us that gold sales for the quarter were down to 619 oz, most of it residual production from the Trixie mine in Utah with the rest from processing stockpiles from the Cariboo project in BC using a third party. And it appears they lost money on that production, generating just $1.8M in revenues while the cost of sales was $2.0M.

That said, they are still in decent financial position with a cash stash of $57.5M at quarter end. Given that they are in the process of building a mine at Cariboo while preparing to upgrade Trixie, they have drawn down half their $50M credit facility to advance permitting at Cariboo and extract a 10kt bulk sample, which is supposed to be completed before year end. Let's hope that bulk sample generate good return on the investment.

I remain dubious at ODV's management being able to successfully manage these two projects, so I will be keeping a close eye on whether they are able to finish extracting the bulk sample and advance permitting at Cariboo according to the schedule they have laid out.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34659825

I admit it. When I saw there was yet another PR from Navada gold miner i-80 Gold aka IAU, I winced in anticipation of yet another stockholder-unfriendly PP to even further crush the share price.

But to my relief, this PR concerns how they are going to start spending all the money they have raised, in this case by accelerating development of the underground mine to come at Granite Creek. Drilling over the last few years had established the South Pacific Zone (SPZ) as the first area to be mined once underground development reaches the ore body. Now they will accelerate infill drilling in advance of an updated Resource Report on the SPZ followed by an FBS. As well, there will be further exploration drilling to extend mineralization toward NGM's nearby producing Turquoise Hill mine, which exhibits very similar geology and mineralization.

IF IAU's management can mange to complete this accelerated development programme as projected, I might take them back off probation. But please, no more ruinous PPs!

https://www.siliconinvestor.com/readmsg.aspx?msgid=34659857

In their most recent PR, BC explorer Kodiak Minerals aka KDK released the final results of their 2023 drilling, which appeared to have found another large porphyry on their MPD property in south central BC. Now we get the details of this year's exploration programme. They appear to have a lot of faith in the new VRIFY AI which will be used to guide much of this year's work.

KDK are planning 10km of drilling in 2024, aimed at both finding new high grade minerlaization around known zones plus some exploration at previously identified targets. There will also be extensive programmes of geophysics and soil sampling to advance the AI-identified targets to prepare them for eventual drilling.

KDK has not yet found anything else that lives up to the promise of the initial holes that gained them attention. I am hoping that with the new technology they might be able to remedy this.

https://www.siliconinvestor.com/readmsg.aspx?msgid=34661141