Tue, 19 Mar 2019

Testing Shows Firm's Formulas Extract Palladium, Gold in High Percentages

Source: Streetwise Reports   03/19/2019 The company continues to optimize the chemical and leaching conditions for its recovery process.EnviroLeach Technologies Inc.'s (ETI:CSE; EVLLF:OTCQB) proprietary formula can extract palladium out of a multi-metal source and reduce it to an aqueous solution, it announced in a March 18, 2019 news release. Specifically, on initial testing, the company's product recovered 90% of contained palladium from ceramic-based catalytic converters in about two hours' time. Electrowinning tests showed, on one sample, an 83% palladium recovery from a solution, which was achieved within 40 minutes. The global automotive catalytic converter market report is expected to reach $183.4 billion by 2022, for a resulting CAGR between 2016 and 2022 of 7.7%, the release cited from an Allied Market Research report. EnviroLeach will conduct further in-house testing to optimize chemistry and leach components, after which an external laboratory will evaluate...
Tue, 19 Mar 2019

Rise Gold Drills 90.4 g/t Gold over 4.7 Meters

Source: Bob Moriarty for Streetwise Reports   03/19/2019 Bob Moriarty of 321 Gold provides an update on a company with a past-producing gold mine in California.Rise Gold was the subject of a piece by me back in early 2017. Anyone interested in the company should read the piece. The purchase by the company of the Idaho-Maryland gold mine for $2 million was an extraordinary deal for Rise. Rise just released the most interesting results. Remember, this is a former gold mine shut down in 1942 as a result of the war. At the time it was the 2nd highest-grade gold mine in the US showing a head grade of over ½ ounce gold per ton. The latest assays showed 90.4 g/t over 4.7 meters and another assay of 35.6 g/t Au over .90 meters. Historic records show the mines had reserves of 705,000 ounces of gold at a grade of about 23 g/t in 1942. The gold hasn't gone anywhere since. This would be just another boring story about a former high-grade gold mine in California that some promoters...
Tue, 19 Mar 2019

Target Price Raised on Report of Possible Mine Throughput Increase

Source: Streetwise Reports   03/19/2019 A BMO Capital Markets report discussed this gold company's 2019 production guidance and the potential impact of greater capacity.In a March 13 research note, analyst Andrew Mikitchook reported that BMO Capital Markets increased its target price on Wesdome Gold Mines Ltd. (WDO:TSX) to CA$6 per share from CA$4.75 on news of a potential throughput increase at its Eagle mine. The Outperform-rated stock is currently trading at around CA$4.36 per share. The boosted throughput that may be feasible, up to 800 tons per day, would come from a newly discovered eastern parallel zone that is close to the shaft infrastructure, Mikitchook explained. At that higher throughput rate, the underground mine could produce more than 100,000 ounces a year (100 Koz/year) versus the 72–80 Koz/year that management guided to for 2019. The analyst highlighted that this new eastern parallel zone demonstrated initial high-grade intercepts of 41.4 grams...
Mon, 18 Mar 2019

Company on Target to US Copper Production by Q4 2019

Source: Maurice Jackson for Streetwise Reports   03/18/2019 Matt Gili, CEO of Nevada Copper, talks with Maurice Jackson of Proven and Probable about his company's progress toward beginning copper production by the end of the year.Maurice Jackson: Joining us for a conversation is Matt Gili, president, CEO and director of Nevada Copper Corp. (NCU:TSX), which is on target to U.S. copper production by Q4 2019. Nevada Copper has a number of successes to share with reader. But, before you share the unique value preposition of Nevada Copper, Mr. Gili, for readers who may not be familiar with the supply and demand fundamentals regarding copper, please provide us with a 10,000-foot overview. Matt Gili: When you look at the copper fundamentals, we see a very steady and predictable increase in demand of copper, modest amount, 1.5% per year. We see the move towards electrification of vehicles consuming more copper. We see other things that are offsetting that, but overall,...
Sat, 16 Mar 2019

Quadruple-Witching Leading into Saint Paddy's Day

Source: Michael J. Ballanger for Streetwise Reports   03/16/2019 Precious metals expert Michael Ballanger riffs on St. Patrick's Day, COT reports, quad-witching weeks and gold.I was sitting in our local Port Perry pub this week when I overheard a couple of the local senior citizens discussing the upcoming arrival of the Saint Patrick's Day celebration where everybody dons a green shirt or a green tie or a green glass of beer and announces to the world that they have "Irish blood" flowing through their veins. Seizing upon yet another excuse for the initiation of "unnecessary drinking," Canadians of all shapes, sizes, colors, creeds and denominations are suddenly transformed into quasi-Leprechauns to the extent that even my Jamaican ex-classmate from the 1970s would call himself an "overdone Irishman" in order to qualify for stupefaction. It never ceases to amaze me how my Canuck brethren will leap upon any and all excuses with which to justify inebriation, present...
Sat, 16 Mar 2019

Sesmarias Stepout Drilling Successful So Far for Avrupa Minerals

Source: The Critical Investor for Streetwise Reports   03/16/2019 The Critical Investor discusses insights management has gleaned from recent drilling and why they have the potential to cause a share re-rating.It took Avrupa Minerals Ltd. (AVU:TSX.V; AVPMF:OTC; 8AM:FSE) a few weeks longer than anticipated to release the first drill results of the Q4 2018 program on the Sesmarias project, part of its Alvalade license located in Portugal, as bringing good news right before PDAC usually generates healthy attention, but the numbers came out pretty interesting anyway in my view. The self-funded 2018 drill program appears to be a real eye-opener for management, as the recently completed 2,498 meters of drilling (6 holes) not only changed their insights on the position of the mineralized lenses discovered so far, but also showed other potentially mineralized structures by intercepting stockwork besides lenses. Step-out drilling of the known 10 Lens is also going according...
Tue, 19 Mar 2019

'Multi-Million-Ounce Gold Giant' Is Stirring. . .and the Stock Is at an All-Time Low

Source: Knox Henderson for Streetwise Reports   03/19/2019 Knox Henderson explains why he believes Terraco Gold, with two big catalysts coming and a royalty in a large Nevada gold deposit, should be trading at three times its current share price...at the very least. The beauty of running a private equity (PE) firm is the "private" component. So, in late 2015 when a subsidiary of PE firm Waterton acquires the 5.1-million-ounce Spring Valley gold deposit in Nevada from a very public Barrick Gold—and its then junior partner, Midway Gold—the flow of information comes to a grinding halt. This leaves other stakeholders, like the shareholders of Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK), which has an up-to 3% royalty on the lion's share of the deposit, lost in the dark. In downward markets PE firms have the deep pockets to buy out, outbid and outlast their adversaries for the assets they so desire. Back in 2015, Waterton was able to capitalize on a bankrupt Midway...
Fri, 15 Mar 2019

British Columbia Copper-Gold Miner Upgraded on Asset Sale News

Source: Streetwise Reports   03/15/2019 A CIBC report discussed the pros and cons of the transaction. In a March 12 research note, CIBC analyst Oscar Cabrera reported that Imperial Metals Corp. (III:TSX) agreed to sell 70% of its flagship Red Chris mine in British Columbia to Newcrest Mining Ltd. (NCM:ASX) for US$806.5 million. On that news, CIBC upgraded its rating to Neutral from Underperformer and more than quadrupled its target price to CA$3.50 per share from CA$0.60 on Imperial. The asset stake sale is due to close in Q3/19. Cabrera highlighted that with this transaction, Imperial avoids a liquidity problem. The company has $718 million in debt maturities coming due in Q1/19, but with the Red Chris deal closing in Q3/19, will not have to pay them until then. In addition, cash flow over the next two years from Imperial's other mines will likely be limited. They are Mount Polley, which is going on care and maintenance in Q3/19 until Q1/22, and Huckleberry, which...
Fri, 15 Mar 2019

Takeaways from MAG Silver's Annual Event at PDAC

Source: Streetwise Reports   03/15/2019 A Macquarie report discussed a handful of highlights from management's presentation.In a March 6 research note, Macquarie analyst Michael Gray reported the key points from MAG Silver Corp.'s (MAG:TSX; MAG:NYSE.MKT) technical luncheon at the PDAC Conference. MAG President and CEO George Paspalas and Chief Exploration Officer Peter Megaw made the presentation, which took place "only days after Fresnillo's strong signaling of an imminent positive Fresnillo board approval for Juanicipio," Gray pointed out. A primary message at the luncheon was that the Juanicipio operation could start sooner and last longer, Gray noted. The infrastructure being built there is for a mine life that well exceeds the scenario outlined in the preliminary economic assessment and for a 4,000-tonne-per-day (4 Ktpd) operation. Whereas Macquarie modeled first production for Q1/21, MAG noted that it could happen even before H2/20. A second significant point...
Sat, 16 Mar 2019

Resource Firm Confirms Graphite Carbon Below Surface Saprolite at Guinea Deposit

Source: Streetwise Reports   03/16/2019 The next step for the Canadian company is a mineral resource update for this asset.SRG Graphite Inc. (SRG:TSX.V) announced in a news release the final results from its 2018 drilling campaign at its Lola graphite deposit in Guinea, West Africa. These results are from 71 boreholes, ten of which were drilled at depth to confirm the presence of graphitic carbon (Cg) within the rock assemblage below the weathered, graphite-rich saprolite at the surface. The new findings confirmed that to be the case. SRG reported these highlight assays:Hole LL39-162665: 0 meters (0m) at 7.74% Cg including 10.50m at 13.46% Cg, from surface Hole LL36-369056: 44m at 5.56% Cg including 20.46m at 7.93 % Cg, from 2.6m Hole LL36-384159: 72m at 6.50% Cg including 19.00m at 9.25% Cg, from surface Hole LL39-085636: 45m at 4.94% Cg including 91.85m at 6.90% Cg, from 8.4m Hole LL42-037030: 65m at 4.16% Cg including 116.81m at 6.18% Cg, from 4.8mThe 2018...
Sat, 16 Mar 2019

Firm's British Columbia Property Returns 4.81% Light Rare Earth Oxide

Source: Streetwise Reports   03/16/2019 This Canadian company intends to build upon these initial positive results. Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB) announced in a news release the initial composite head assay results of the 30-ton bulk sample taken from its Wicheeda property in British Columbia. Highlight assay results, determined by the firm SGS Canada Inc., included 1.77% lanthanum oxide, 2.34% cerium oxide, 0.52% neodymium oxide and 0.18% praseodymium oxide—for a total of 4.81% light rare earth oxides. The significant presence of praseodymium could impact advancement of Wicheeda from an economic standpoint, "given recent indicative light rare earth elements oxide prices and their potential impact on Wicheeda, which has been historically viewed as a cerium-lanthanum-neodymium deposit," the release noted. Defense Metals will use these findings when analyzing results of subsequent tests, such as bench-scale flotation optimization and hydrometallurgical...
Thu, 14 Mar 2019

Rare Earth Element Project in Canada Advances

Source: Peter Epstein for Streetwise Reports   03/14/2019 Max Sali, CEO of Defense Metals, speaks with Peter Epstein of Epstein Research about the latest developments at his company's REE project in British Columbia.Defense Metals Corp. (DEFN:TSX.V; DFMTF:OTCQB) is a great name. The company is defending against Chinese dominance of Rare Earth Elements (REEs), and Defense Departments require select REEs to defend their countries! Several REEs are very difficult or impossible to replace in critical applications, yet enable products essential to modern civilization. Any company outside of China that can reliably produce a few key REEs will have a license to print money. This week, SGS Canada provided select head assay results from a 30-tonne bulk sample. Four REE assays were reported in this press release. (See chart below.) Using the price/kg of each metal, the in-situ value is ~US$ 535/t. That's equivalent to ~ 0.41 troy ounces gold or ~12.8 g/t gold. In the following...
Thu, 14 Mar 2019

Target Price Lowered on Goldcorp to Reflect Updated Model

Source: Streetwise Reports   03/14/2019 A CIBC report itemized the revisions and noted their cumulative impact.In a March 11 research note, analyst Anita Soni reported that CIBC lowered its price target on Goldcorp Inc. (G:TSX; GG:NYSE) to US$12 per share from US$12.50 (current share price is about US$10.93) after adjusting its model on the major "to reflect 2019 guidance, year-end results and technical reports." Soni noted CIBC made three changes to its standalone model of Goldcorp and described what they were. In one, the analyst relayed, CIBC lowered its projected 2019 total production to 2.279 million ounces (2.279 Moz) from 2.324 Moz due to Goldcorp intending to lower output at Cerro Negro, Musselwhite and Porcupine. CIBC's adjusted figure still falls within the miner's guidance of 2.2–2.4 Moz of production in 2019. A second model revision involved increasing costs and all-in sustaining cost (AISC) to $503 per ounce ($503/oz) and $886/oz, respectively,...
Wed, 13 Mar 2019

Deposit's Updated Resource Estimate Increases Size, Confirms High Grades

Source: Streetwise Reports   03/13/2019 The company noted that the results justify moving the deposit into an early position in the British Columbia's project's mining sequence. Seabridge Gold Inc. (SEA:TSX; SA:NYSE.MKT) announced in a news release that the March 7 updated resource estimate for Iron Cap contains shows a size increase and confirmed the high-grade zones in the overall resource. The independent study, prepared by RMI, for this northwest British Columbia deposit encompasses all previous drill results along with findings from 18 holes and 20,341 meters of diamond core drilling done last year. The current total resources are 423 million tons (423 Mt) in the Indicated category and 1,899 Mt in the Inferred, which compare to 370 Mt and 1,297 Mt, respectively, on the previous estimate of February 2018. The update reflects an increase in Indicated resources by 0.46 million ounces (0.46 Moz) of gold and 177 million pounds of copper. Inferred resources also...
Wed, 13 Mar 2019

Three Prospect Generators Have Exciting Year Ahead

Source: Adrian Day for Streetwise Reports   03/13/2019 Fund manager Adrian Day looks at three junior resource companies that are following the prospect-generator model.Midland Exploration Inc. (MD:TSX.V, 1.30) reported an early-stage copper-gold-molybdenum discovery in James Bay based on grab samples taken just prior to the end of the exploration season. Now, following soil testing and an IP geophysical survey at the 100%-owned Mythril, which seems to confirm and extend the possible discovery, Midland has announced a 2,000-meter drilling program to commence next week. The month-long program will consist of 12–14 shallow holes to test the various IP anomalies and showings, and which should be sufficient to confirm the mineralization from the grab samples. Though the stock price has moved up since the initial announcement, it has much further to go if drilling confirms the initial testing. Aggressive investors can add to positions ahead of the drilling. Meanwhile,...