Other Mining Stocks 2022

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Very timely CHG!

Hot Chili Limited Commences Trading on US-Based OTCQX Market

TSX.V: HCH
www.hotchili.net.au

Mr. Christian Easterday reports:

Hot Chili Limited (ASX:HCH) (TSXV:HCH) (OTCQX:HHLKF) (the “Company”) is pleased to announce that its application to join the US-based OTCQX market has been accepted and the Company’s shares will commence trading in the US on the OTCQX® Best Market under the ticker OTCQX: HHLKF on 7 April 2022.

The OTCQX Best Market is the highest tier of OTC Markets Group’s market platforms, on which 12,000 US and international securities trade. The OTCQX Market is designed for established, investor-focused U.S. and international companies. To qualify, companies must meet high financial standards, follow best practice corporate governance, and demonstrate compliance with applicable securities laws.

Hot Chili Ltd has upgraded to OTCQX from the OTCQB® Venture Market where it has been trading since 6 May 2021. By upgrading to the OTCQX the Company is positioned to enhance its visibility and broaden its access to the extensive market of US retail, high net worth and institutional investors.

The primary advantages to North American investors of the Company’s inclusion on the OTCQX platform include:

• It allows trading of HCH securities in the local time zone; appealing to investors and brokers who prefer securities that trade and settle during US trading hours.

• Trades and settlements are conducted in US Dollars with no exchange rate risk or additional FX fees.

The Company’s shares will continue to trade on the Australian Securities Exchange and the TSX Venture Exchange under the symbol HCH, with its shares now also tradeable on the OTCQX market (www.otcmarkets.com).

Christian Easterday, Managing Director Hot Chili, commented:

“We are delighted to be moving up to OTCQX, as we deliver the next level of growth. An upgrade to OTCQX is a logical next step for Hot Chili. This designation is OTC Market’s top tier and a step towards greater liquidity and support to our active North American investor outreach.”

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Finally sold at $5.39 U.S. which is around $6.78 Canadian. No reason to get too greedy. I will watch for a re-entry point if there is one. I think I flipped this something like 3 times now? All good.

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Mike,
As you know, I’m not adept at day trading and usually put sell orders in well in advance from longer term charts. Foolish not to take some off the table when the opportunity permits. I took a few off the table today, also, but missed the high of the day selling at 5.36, so you did a little better than I did on hitting it near the high! I believe today’s action is a new all time high for KRRGF. :smiling_face_with_three_hearts: Even though I’m very much overweight on this one, I’m inclined to hold the majority of my core for a very long time. It will be going much much higher once Ni production figures into quarterly earnings, along with the AU.

I picked up some Hot Chili (HHLKF) today also, to start a position. Thanks to CHG bringing it to the attention of the forum thread. Volume is still low, but most starter positions are for a long term accumulation and hold. There is good DD available for those that are interested. Now is a good time to be accumulating from some of your favorites on any weakness. That’s what I’d done with Karora until now, FWIW.
EZ

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Well done Mike! KRR never got low enough for me to re-enter, but I still hold 75% of my original position. The chart is ready to bust out here:

KRR
KRR1148×682 87 KB

I will probably take another 25% off the table on the breakout, but will look to add back constantly as long as they keep delivering. It’s such a great trading stock!

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Just a word of caution about why I’m not fond of trading large percentages of a stock (25% is large when a large position is involved) that has the potential to run very hot. This may be considered a lesson on greed, or just not being disciplined enough. It is why I posted Moriarity’s 11 Lessons in early March. The bigger your positions, the less room for error you have. This may be more applicable to penny stocks and not necessarily applicable to Karora at all. I know I keep it in mind for some of my more speculative penny stocks in which I hold fairly large positions. I bought into De Grey Mining in mid 2019 for an average about a nickel. I had a large position as it only cost me about a nickel. Take a good look at this weekly chart.

De Grey Mining
De Grey Mining1920×1234 210 KB

You’ll notice it had a spectacular rise during the 1st half of 2020, I sold in increments of about 10%, but wasn’t disciplined to buy it back on dips, mostly because Fidelity had a $50 trading fee that they charge on foreign pink sheet stocks on a foreign exchange. Well, in March of 2020, most miners (and other stocks) took a very large dump, but didn’t affect DGMLF much. As time went on, I put many of the profits into my other “good” stocks that had crashed more than 50%. By the time I had sold 90% of my De Grey stock at a very good profit I decided to hold. I’m still holding with a large unrealized gain. It was too expensive to incrementally buy and sell around my diminished core position as it only trades a few thousand shares each day now, even with periodic significant spreads. It appears to be in a consolidation phase awaiting news. At least Karora is quite liquid and there shouldn’t be any problem trading around a core if one is disciplined enough to stick to what the charts are indicating. A couple of other of Moriarty’s lessons also applies. Hold more cash than normal. In times as uncertain as we are in today, March of 2020 comes to mind, Fundamentals don’t matter in the short term.

I think we are in for the long haul when it comes to Karora.
But then again, I also expected much more out of Great Bear, holding a nice position, when Kinross took it out rather suddenly.
EZ

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Just FYI…for whatever the reason, I have had no trouble moving moderate amounts of KRRGF in/out of it on the OTC. It doesn’t act like a normal penny stock at all. (Compare to say AUMC…even a hundred dollar trade is a struggle! )

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It’s no longer a penny stock and quite liquid. I incur no fees on most OTC stocks from Fidelity. But I don’t spend much time day trading, either. I think Fidelity has different rules for day traders and may apply additional fees on those who trade in and out frequently in the same stock. Wthh Great Bear I’m glad I wasn’t in-between 25% out of my position when Kinross bought it out at what I consider cheap. At least they are well set to develop it and are getting out of Russia receiving about $680 Million for their assets there, and will make up losses easily. Kinross expects to complete approximately 200,000 metres of drilling using approximately 10 drill rigs in 2022. I don’t like paying short term capital gains tax!

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If/when ever you dudes want me to post a chart on something just ask me in a post here and make sure you give me the ticker.

Sold out of my KRRGF @ 5.19 on April fools day. Hopefully I wasn’t a fool for doing so but the weekly and monthly charts are even looking seriously overbought and I didn’t have the best entry price to begin with. Better to be out wishing I was in than in wishing I was out.

I recently liquidated my ELRRF position while it was sitting in the 4.17 - 4.30 range before this current drop. The trading seemed odd like it was being held up there for some reason and considering its overbought state I figured better to take those profits as well. I don’t know if I’ll get back in any time soon as I have too much capital committed to miners as it is.

I sold out of my ESK position today at a small loss for technical reasons and because again I’ve already got too much invested in the sector.

The only miners I’m currently in are NSRPF, (stupidly overweight), SKE, HBEIF, and AMRK. A service I subscribe to has a few fund managers as subs who sometimes share their DD. One of them is quite bullish on AMRK and believes with all the money they’ve been making that they are likely to offer a special dividend and do a forward split. I’ve tracked this guy’s posts for the duration of my 8 month subscription and he’s done quite well for people. I’ve got 400 shares currently and the stock is starting to get some buyers into this dip, fwiw.

I’ll post a couple KRR charts tonight.

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I’m not much of a chart reader of course but sold KRR because:
-Up 55% on latest flip
-At new high
-Some analysts price targets have been about reached
-Give it a 50% chance of a gold price correction that drag it down
-Good chance of no significant news for awhile which will tend to drag the price down.

Regarding NSRPF, thought again about averaging down but still don’t like the continued cash burn and don’t really know at this point what will turn it around. I don’t believe they have the numbers separated out to figure out how profitable the gold production part is but it at least appears that it is VERY unprofitable which is a head scratcher as the grade seems fine. (If it was profitable, wouldn’t they go out of their way to show this?) Most likely it has simply been mismanaged. Current management seems to have little stock and inflated benefits and have lost confidence of existing shareholders. Of course, this kind of sentiment could all suggest a bottom but who knows?

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When I look at the chart of NVO from last April to now it just wreaks of manipulation after that shit financing they did. Also, I think all here have some awareness of the scoundrels that inhabit the mining sector. I’m not making any accusations, but I have noted over the years the level of near worship some people have shown of QH. I have no experience of the man myself but he is obviously a promoter and I’m not one to trust a person who always only tells people what they want to hear. Of course I can’t prove any foul play, but when you smell shit in the air it’s pretty likely there’s shit on the ground somewhere nearby.

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When Kirkland Lake started to exit, I should have exited. (I’m sure they had perfect visibility on what is going on.) Hindsight is 20/20 of course. QH is a good geologist. Identifying mineral opportunity is one thing but turning it into a profitable mining operation is another. (Somebody didn’t know what they are doing for sure.) There is still hope for a turn around. They still can tap into their investments for cash without dilution and get their sorting machines to turn a profit so probably will just sit tight for now.

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I just want to be clear that I’m not inferring the whole thing is a scam. I have seen the success of some of the companies that QH has been just as associated with. I just think if the entire sector were cleaned up it would look so different investors would think they need an eye exam. I made some good money trading NVO for two years prior to the last year. I wish I would have continued, but at least I didn’t sink nearly as much into it as I did MDMN! :slight_smile:

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Speaking of KL, I agree with what you are saying about Novo. On a different note, I stayed with KL before (and after) their merger with AEM. I did very well with KL , traded a few, kept a core. Have you seen their latest PR? Fantastic!

Kirkland Lake Announces Further High-Grade Drill Results on the Lower Phoenix and Harrier Gold Systems at the Fosterville Mine

May 03, 2017 11:23 ET | Source: Kirkland Lake Gold Ltd.

  • …

TORONTO, ONTARIO–(Marketwired - May 3, 2017) - Kirkland Lake Gold Ltd. (“Kirkland Lake Gold” or the " Company ") (TSX:KL)(OTCQX:KLGDF) is pleased to report continued high-grade drill results from underground drilling at Fosterville Mine in Australia. Underground definition drilling continues to infill and target down-plunge extensions of the Lower Phoenix and Harrier South gold systems to increase Mineral Resource confidence and assess the potential of further Mineral Reserve expansion (see Figure 1).

Recent drill results returned from 59 underground holes totaling 14,070 meters (“m”) into extensions of the Lower Phoenix gold system continue to return some of the highest gold grades seen at Fosterville. Results continue to demonstrate the continuity of exceptional high-grade mineralization with visible gold on both the newly discovered west dipping Lower Phoenix Footwall and Eagle Structures in the Lower Phoenix gold system.

Similarly, a drill program consisting of 20 holes, totaling 7,791m in the Harrier South gold system reaffirms the increasing grade tenor of the Harrier Mineral Reserve at depth.

Underground Drilling Highlights at Fosterville Mine

  • Lower Phoenix Footwall mineralization continues to demonstrate high-grade continuity with the return of the following infill definition drill intercepts:
    • 381 g/t Au (1) over 2.8m (Estimated True Width “ETW” 2.5m), including 1,062 g/t Au (1) over 1.0m (ETW 0.9m) in hole UDH1982
    • 345 g/t Au (1) over 7.0m (ETW 6.4m), including 4,550 g/t Au (1) over 0.5m (ETW 0.4m) in hole UDH1991
    • 645 g/t Au (1) over 1.3m (ETW 1.1m) in hole UDH1978
  • Eagle high-grade mineralization continues to demonstrate high-grade continuity with the return of the following infill definition drill intercepts:
    • 404 g/t Au (1) over 16.0m (ETW 7.5m), including 12,039 g/t Au (1) over 0.4m (ETW 0.2m) in hole UDH1970
    • 274 g/t Au (1) over 9.7m (ETW 9.2m), including 498 g/t Au (1) over 1.3m (ETW 1.1m) in hole UDH1946B
    • 399 g/t Au (1) over 3.6m (ETW 1.0m), including 2,036 g/t Au (1) over 0.7m (ETW 0.2m) in hole UDH1865A
    • 69 g/t Au (1) over 30.7m (ETW 29.3m) in hole UDH1946
  • Drilling on the Harrier Base Structure continues to return high-grade mineralization including:
    • 25.6 g/t Au (1) over 3.85m (ETW 3.7m) in hole UDH1987
    • 10.1 g/t Au over 10.55m (ETW 10.1m) in hole UDH1913
  • Infill drilling into Harrier Base mineralization continues to demonstrate high-grade continuity
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Taking a fresh look at Silver Elephant in Bolivia. Very similar geology as Eloro. See map for location. It took a deep dive during the pandemic & looks near bottom of falling knife. I think mdmnwonk posted on it mid 2020 when it was trading around 4.50. There are a couple of recent news releases.

Bolivia Silver Boom
Bolivia Silver Boom980×744 79.2 KB

Battery Metals Royalties to Acquire 45% Interest in Mongolian Coal Assets from Silver Elephant Mining For $6.3 Million

Vancouver, British Columbia, April 4, 2022 – Silver Elephant Mining Corp. (“ Silver Elephant ”) (TSX:ELEF, OTCQX:SILEF, Frankfurt:1P2N) and Battery Metals Royalties Corp. (“ Battery ”) announce that they have entered into a binding letter of intent (the “LOI” ) pursuant to which Battery proposes to acquire a 45% equity interest of Silver Elephant’s wholly owned Mega Thermal Coal Corp. (formerly Asia Mining Inc.) (“Mega Coal”), which owns and operates the Ulaan Ovoo and Chandgana thermal coal mines in Mongolia through Mega Coal’s wholly-owned Mongolian subsidiaries.

The proposed transaction (“Transaction”) is a positive step to transform Silver Elephant to a pure silver mining and exploration company by monetizing non-core assets; and includes the following key terms:

Silver Elephant Completes Plan of Arrangement, Post-
Arrangement Shares to Trade on January 18, 2022
Date : January 17, 2022
Vancouver, British Columbia, January 17, 2022 – Silver Elephant Mining Corp. (“Silver
Elephant” or the “Company”) (TSX: ELEF, OTCQX:SILEF, Frankfurt:1P2N) announces the completion of previously announced plan of arrangement (the “Arrangement”).
Pursuant to the Arrangement, the common shares of the Company were consolidated on a 10:1 basis (the“Consolidation”) and each holder of common shares of the Company will receive in exchange for every 10 pre-Consolidation common shares held: (i) one post-Consolidation common share of the Company; (ii) one common share of Flying Nickel Mining Corp. (“Flying Nickel”); (iii) one common share of NevadaVanadium Mining Corp. (“Nevada Vanadium”); and (iv) two common shares of Battery Metals Royalties
Corp. (“Battery Metals”).
The Toronto Stock Exchange (“TSX”) issued its final trading bulletin in respect of the Arrangement on January 14, 2022. Trading in the Company’s common shares will commence on a post-Arrangement and post-Consolidation basis under the same symbol “ELEF” at market open on Tuesday, January 18, 2022.

Silver Elephant Mining Drills 2 Meters of 299g/t Silver, 1.5km North of Tajo Vein System at Pulacayo Project in Bolivia

VANCOUVER, BC / ACCESSWIRE / March 29, 2022 / Silver Elephant Mining Corp. (“Silver Elephant” or “the Company”) (TSX:ELEF) (OTCQX:SILEF) (Frankfurt:1P2N) announces regional exploration drilling results from its 100%-controlled Pulacayo silver project in the Potosi department of Bolivia.

(News Releases - Silver Elephant)

I took a small position today and will monitor progress to see how it goes and may accumulate.

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I wound up selling my 2nd 25% of Karora at $6.92 today. While the share price broke the ATH which I was expecting based on the chart, I was hoping for a little more action today and maybe a run above $7.00, but the momentum wasn’t there. It may be a bit toppy so I have no problem locking in profits.

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I’ll (respectfully and not ardently) disagree with you here Rich. NVO has been in a downward trend since pouring their first gold bar in March, 2021. There are many reasons for this that don’t add up to manipulation, though I’m sure we can always sprinkle that in. But the main reason, quite frankly, is that the company simply has not performed to lofty expectations, and just plain not performed. And this has led into an erosion of confidence among shareholders and other mining investors. Here are some of the reasons why:

  • Expectations were very high since the first pour that that was to be the beginning of NVO’s march to becoming a 100K oz/year producer while simultaneously exploring the Pilbara. Add NVO being the forerunner of ore sorting which is believed by many to be a new holy grail for processing low-grade ore cost effectively. That is not off the table by any stretch, but it has taken wayyyyy longer to prove.

  • Beaton’s Creek started off well, but ever since, the grade is much lower than forecast and has not been cost effective to process the low grade. That’s where ore sorting will eventually come into play, but that is behind schedule. The numbers in the original PEA for Beaton’s Creek are not being met which means investors wonder if the grades in the PEA were more ambitious than reality.

  • Novo lost their main geologist at Beaton’s Creek who allegedly was expert at identifying where the higher grade ore was to process. The geologists who took over that task did not have the experience and allegedly that showed in the lower grades being processed. Whether that was an inevitability or not is anyone’s guess, but NVO lost very valuable expertise that no doubt impacted their short-term production efforts.

  • To remedy the above, NVO began in-fill drilling with tighter spacing to better identify the higher grade ore to process in the mill. However, due to Covid, there was a backlog in getting assays, so NVO was still flying partially blind in trying to identify what ore to process. To the company’s credit, they entered into a preferred partner agreement with Chrysos to handle NVO’s assays on a priority basis which improved the turnaround time of assays vastly.

  • NVO experienced mechanical issues in November and late December at their Nullagine mill. The mill was off line I think 10 days in November and I believe 3 weeks in late December and early January. That’s a cost of doing business and definitely impacted their results and expenditures in 2021 Q4 and 2022 Q1.

  • Ore sorting has been delayed on many occasions. First there was a delay in getting the ore sorter delivered to Australia. Then there were delays in getting the sorter assembled. Then there were delays in getting the sorter delivered to Nullagine. Now there has been at least a 4-month delay in getting the results of the current Phase II bulk sample. These have all been attributed to Covid. Whether that’s an excuse or not is immaterial. The delays have contributed to a loss of investor confidence and most investors have been attracted to NVO due to the ore sorting potential.

  • NVO has lost employees to iron ore companies in Australia who pay better. There is currently a bull market in iron ore and Australia is the 2nd largest iron producer/exporter in the world. With Australia closing its borders due to Covid, there is a limited supply of available/experienced workers. Because NVO is not seeing the expected profits from gold production yet, they are unable to match the iron company salaries and are apparently having difficulty attracting/keeping employees who move on to greener pastures. I believe this is only a temporary issue once NVO starts producing more efficiently/profitably.

  • Novo is unfairly being valued based on their performance at Beaton’s Creek, as if that is the only landholding and revenue front they own. As explained above, BC has not performed well to date, but the share price is being overly punished in that regard. The investor community is not crediting the company with the potential of their vast land holdings and the very promising results from those properties to date. The investor community also seems to be ignoring NVO’s $135 million value just in investments in other companies, like NFG for example.

  • Kirkland Lake unwound their ~10% position. This created an elongated downward pressure on the stock as every rally was sold into. That may have presented itself as manipulation in the market, but there were legitimate forces that were holding the stock down as well. Fortunately KL is no longer a shareholder so that cause of selling pressure is now behind NVO. While KL (or any major shareholder) selling NVO is never good news, my understanding is that there is some serious bad blood between former KL CEO Tony Makuch and Quinton Hennigh. QH has Eric Sprott’s ear because it was Quinton who suggested Sprott invest in KL due to the potential of the Fosterville deposit and then QH was instrumental in discovering Fosterville’s ultra-high grade Swan Zone which made KL and Sprott tons of money. That’s all backroom gossip, but there’s no doubt the Sprott has extreme respect for QH’s geological knowledge.

I’ve probably forgotten more issues that have created headwinds for NVO since pouring that first gold bar, but I think I made my point. I believe NVO is at or near the bottom, but I’ve said that before and have been wrong. What they have in their favor is:

  • A strong bull market in gold

  • Dozens of prospective gold properties that are actively being explored and we are awaiting results on.

  • Over a year of “experience” with the Nullagine mill and Beaton’s Creek property

  • Awaiting permitting to start mining the “fresh” rock at Beaton’s Creek which has already been identified through drilling as higher grade than other areas that have been processed.

  • They’ve already reported their disappointing results and anticipate improvement over the next quarters, so there is a lower bar to exceed expectations going forward.

  • Australia has opened its borders back up so hopefully more labor will be available.

  • Ore sorting results should be coming in “any day” which will be the game changer with the company.

On paper now looks like the best time to buy NVO as a bottom feeder. However, (and I posted this sentiment in ceo.ca) I am not averaging down any further until I see insiders start buying at these levels. To me, that is the number one tell that the company is undervalued and has bright prospects going forward.

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And that’s why I love ya Rick! That mentality of yours is well suited to this kind of thing, unlike mine. Thank you!

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Excellent point/counterpoint summary. I’ve added at these levels in my trading account, but not in my retirement accounts. My rationale is that I’ve got two different “classes” of stock that I’m over allocated in. I won’t be selling out of my retirement accounts any time soon. I do think it will do a turnaround before the end of the year. That’s a win win scenario. On the other hand, if NVO doesn’t turn around before years end I can do some tax loss selling and apply it towards gains.

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Rick,

I want to believe! :slight_smile: But it is costing them $2100 U.S to produce each ounce of gold. Another quarter or two of that and they may just moth ball the plant. (If nothing changes, it will result in $10 million more losses in 2022.) There is nothing in the very near term that will change that. In fact, costs are likely increasing/ not decreasing.(Not to mention the risk that the price of gold could always go down.) Ore sorting might save the day but it is just as likely that it won’t.

I have no freaking idea why it is costing them so much to produce gold. (Note; This is the VERY same company that claimed they would be the lowest cost producer in the world.) Would probably need to go out a watch their operation to figure it out. Perhaps everything out there in the desert is just really expensive?

If I had any level of confidence in them right now, I would buy 100,000 shares tomorrow morning but I don’t. Also, if they do mothball the plant, it would precipitate in an additional drop in share price. Further, it is now a certainty that they will burn through all their cash in the short term and start selling shares of their investments(if they haven’t already) or just start diluting the crap out of everything. Either course will be viewed very negatively. Reaction to these upcoming events might actually represent the real bottom; not where the price is now.

Anything further you have to alleviate my concerns would be appreciated! (I’m still holding my existing position but will exit if the opportunity presents itself unless something changes.) Thanks!

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These are great points Mike and precisely the reason why NVO is struggling to find a base. We’ll have a pretty good answer as to whether ore sorting is the holy grail or not “any day” now. That is where the idea of NVO being the lowest cost producer stems from - definitely not from their current low grade processing at Beaton’s Creek. The loose gravels at Egina should be as simple as scooping and sorting the areas that have been identified as containing gold. The problem with Egina is that NVO needs to get the native agreements in place before they can begin extracting the ore. By all accounts this has been delayed (supposedly by Covid) and is another reason why NVO seems to be behind the eight ball.

As far as the AISC, it’s been pretty bad at Beaton’s Creek. But I believe that includes all of their exploration work, the mechanical issues at the mill which should be a one-time expense, and the close-spaced drilling at BC to identify higher grade ore to process. I would like to know with some degree of certainty what comprises their AISC.

Whatever the case may be, we should have a better idea which direction the company is heading within the next 2 quarters.