Replies to post #32309 on Value Microcaps Junior Miners

[checkmate28]

EXN.T Excellon Res Q1 Production and Financials numbers out.

No surprises, The dewatering program is working well and there actually ahead of schedule. Phaze 2 is starting now.

Q1 AISC of $16.98 but $11.72 in March as they accessed the 1,000 g/t Ag Rodilla Manto that was previously under water.


From the release
"In late February, we accessed the Rodilla Manto, approximately seven months ahead of schedule as we encountered mineralization outside of the Platosa resource block model and dry mining conditions facilitated rapid development. A significant amount of this 'bonus' mineralization was ultra high grade, with approximately 1,600 tonnes of ore produced from Rodilla during March grading over 1,000 g/t Ag, 10% Pb and 10% Zn. This ore was blended with lower grade and low-cost stockpiles to improve mill recoveries and concentrate payability. We are currently developing into the next level of the Rodilla Manto and expect the continuing optimization program at Platosa to deliver further operational improvements as the year progresses."

The dewatering program will be completed during the second half of the year with continuing improvements throughout the year. What were waiting for here, is the water level to lower, allowing them to access the 1777gpt AuEq ore. At this point the PEA calls for $15 Million CF per year at $17 silver and an AISC of $9 for years 2016 - 2020. Since they are scheduled to have about $3.5 million less in CAPEX than the PEA estimates, these numbers should improve by about $1M CF per year if you do the math.

Excellons recent rise in price came, when the market figured out this was going to happen and Eric Sprott put in his $3 M

Next catalyst will be when further dewatering produces reported cash flow numbers that some investors must see first. The grades they pull will be second to none in all of Mexico.

So with current market cap, and $1.25/share, they are trading at about 4.5 x Future 2016 cash flow with an improving balance sheet. Still represents a near guaranteed re rating at $17 silver and even more at higher prices.
Checkmate28 glta

[checkmate28]

GWA.V GWSAF In play .12 shares are vanishing. Calling this a buy at this level. Read below for the reasons Gowest is a buy here and an extremely close comp to Gowest. Harte Gold HRT.V trading at $83M MC vs $34M for GWA. Also link back a post to April 18 where I called GWA and DNI as the only thing I was buying after the minors moved up strong. GWA was trading at .07, so up 75% during a time where most were correcting. DNI move still coming.

Harte Gold just down the road from Gowests property. They are about 8 -10 months ahead of Gowest. Broke ground on their Bulk sample in November 2015 and shipped first development ore from the bulk sample in May 2016 to Barrick. Harte has an Inferred resource of 1.5 Million oz at 8 - 10gpt similar to the resource reported in Gowests PEA with ore sorting factored in. Difference is Harte moved forward with no reserves and only the PEA. They are toll milling a bulk sample concentrate like Gowest will be.

Harte Gold traded at .07 in Jan just after kicking off the bulk sample, they have more shares than Gowest but now trades at .28/share with a market cap of $83Million over double that of Gowest Gold. Gowest will have a head grade near 10gpt with the proven Ore sorter technology.

Hart moved forward without the Pre Feasibility study or moving resources to the Reserve category.

If GWA trades equal to Harte Golds market cap, than GWA shares will trade at .28 or well over a double from todays price. Harte gold is still steadily moving up,

Gowest waited 7 years for the permits plus the drop in metals price put GWA so far under the radar its not even funny. GWA kept plugging away at progress, all the while keeping share count manageable. Cant say enough about the integrity of this team.

The key is the financing for the bulk sample. My bets are, they finance it with little or zero raise in share count. Their negotiating with their partners and contractors for delayed payments from the first 10k ounces pulled, plus they have their finance partner Future Fortune. If you wait for the confirmation, you'll pay more.

As to Harte Gold, Gowest is ahead in work in several areas. As to Gowest Gold, this is a mining camp in the makings. Gowests 1.5 Million oz resource is very high grade and comes from 1% of their land and their are 17 other targets.

Also this article just out in the Financial Post does a great job laying out the story. Be sure and catch the snippet on the Whitney property that is rumored to have more Gold than Gowests Bradshaw Property.

http://business.financialpost.com/news/mining/small-cap-news/gowest-permitted-for-gold

Checkmate28

[checkmate28]

GWA.V GWSAF In play .12 shares are vanishing. Calling this a buy at this level. Read below for the reasons Gowest is a buy here and an extremely close comp to Gowest. Harte Gold HRT.V trading at $83M MC vs $34M for GWA. Also link back a post to April 18 where I called GWA and DNI as the only thing I was buying after the minors moved up strong. GWA was trading at .07, so up 75% during a time where most were correcting. DNI move still coming.

Harte Gold just down the road from Gowests property. They are about 8 -10 months ahead of Gowest. Broke ground on their Bulk sample in November 2015 and shipped first development ore from the bulk sample in May 2016 to Barrick. Harte has an Inferred resource of 1.5 Million oz at 8 - 10gpt similar to the resource reported in Gowests PEA with ore sorting factored in. Difference is Harte moved forward with no reserves and only the PEA. They are toll milling a bulk sample concentrate like Gowest will be.

Harte Gold traded at .07 in Jan just after kicking off the bulk sample, they have more shares than Gowest but now trades at .28/share with a market cap of $83Million over double that of Gowest Gold. Gowest will have a head grade near 10gpt with the proven Ore sorter technology.

Hart moved forward without the Pre Feasibility study or moving resources to the Reserve category.

If GWA trades equal to Harte Golds market cap, than GWA shares will trade at .28 or well over a double from todays price. Harte gold is still steadily moving up,

Gowest waited 7 years for the permits plus the drop in metals price put GWA so far under the radar its not even funny. GWA kept plugging away at progress, all the while keeping share count manageable. Cant say enough about the integrity of this team.

The key is the financing for the bulk sample. My bets are, they finance it with little or zero raise in share count. Their negotiating with their partners and contractors for delayed payments from the first 10k ounces pulled, plus they have their finance partner Future Fortune. If you wait for the confirmation, you'll pay more.

As to Harte Gold, Gowest is ahead in work in several areas. As to Gowest Gold, this is a mining camp in the makings. Gowests 1.5 Million oz resource is very high grade and comes from 1% of their land and their are 17 other targets.

Also this article just out in the Financial Post does a great job laying out the story. Be sure and catch the snippet on the Whitney property that is rumored to have more Gold than Gowests Bradshaw Property.

http://business.financialpost.com/news/mining/small-cap-news/gowest-permitted-for-gold

Checkmate28