The Mining Play

Other Mining Stocks 2022

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Forget about about acquiring more at a discount with results like that! It should be a most interesting year ahead for ELO. No longer under the radar, this is truly a major behemoth of a polymetallic epithermal silver-tin deposit.

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TR, if you get a chance, compare Eloro to Silver Elephant’s value. I think they both operate in Southern
Bolivia, both have negative earnings, but Eloro’s market cap is nearly 7 times that of Silver E. Just
wandering if you think Eloro has that much more potential value than Silver E.
:face_with_monocle:

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Honestly, I have no idea. I’m just a lowly chart guy who is smart enough to pay attention to the guys who know the answers to questions like yours, but when it comes to fundamental analysis, especially on mining stocks, I’m quite honestly a dunce and at this point in my life I don’t see that changing. :stuck_out_tongue:

This move by the politburo should have an impact on silver, gold and copper. :face_with_monocle:

Beijing has set an economic growth target of 5.5% this year, which private economists have said will be difficult to reach without significant stimulus, as lockdowns and other heavy curbs to battle the pandemic create havoc for supply chains.

Anyone looking for an energy play and willing to take some risk, might look at Trillion Energy (TCF.VN / TRLEF).

https://trillionenergy.com. They have a decent presentation there.

They are a natural gas play in Turkey / Black Sea. They have a small amount of production on existing platform facilities that hook into existing pipeline infrastructure in Turkey. They have guaranteed purchase of their production from Turkey. They have PP reserves in their SASB field of 25 Bcf with a $75M NPV10 which is their current market cap. They just recently signed a drilling contract to start up several low risk wells in their reserve field with expected monthly cash flow in of around $3.7M by end of 2022 (at $9 / MCf gas price which actually just hit $18), doubling from there in 2023. They have what looks to be significant brownfield and exploration upside with several large discoveries by other companies from the same general formation they are producing from.

In addition, they have control of a large land package with some early 3rd party estimates of 0.5 to 3 TcF of gas in Bulgaria. They just announced an accelleration of this project due to the current energy crisis in related to the Ukraine war and Russia’s control of natural gas to Europe.

You’ll have to do your own evaluation in terms of political risk.

The stock was beat down in 2021 because the CEO announced a financing to get these first SASB wells online, cashflow from which was (and is) to provide financing for more well finishing and exploration. The financing turned into a long delay and lots of criticism. But this was finally completed, at less than ideal terms a couple of months ago. A contract is in place for July drilling services for these wells with Schlumberger, a top tier company for these types of wells.

The CEO is experienced in this industry and has built international energy companies before. His interactions with the financial markets has been clumsy though and led to the stock being beat down.

There is a lot of upside potential if they can execute and the political risk is as low as they say (which is what every mining / energy company says) and any of the exploration pans out. The downside seems fairly limited as least in the short / mid term as results should start coming in from the well drilling and new production in Fall 2022. Given the geo political situation and current energy pricing: worth taking a look and deciding for yourself.

There are a bunch of YouTube videos with CEO interviews you can look up. The CEO is obviously an energy industry nerd (and given I am a SW industry nerd I am OK with that for now). If they start to get some success and cash flow perhaps they will change up the image with some new communication faces.

CHG

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BLACKROCK ANNOUNCES TONOPAH WEST MAIDEN STOPE OPTIMIZED RESOURCE ESTIMATE; 2.9 MILLION TONNES GRADING 446 G/T AGEQ FOR 42.6 MILLION OUNCES AGEQ

  • Post published:May 2, 2022

May 02, 2022, ‑ Vancouver, British Columbia . Blackrock Silver Corp. (the “ Company ” or “ Blackrock ”) is pleased to report the results of its Maiden Resource Estimate (“ MRE” ) at its 100% controlled Tonopah West project, located in the Walker Lane trend of Western Nevada. The Tonopah West project is conveniently situated directly adjacent to the town of Tonopah in Western Nevada, with highway US 95 traversing the property, and the resource area is comprised entirely of patented mining claims.
(BLACKROCK ANNOUNCES TONOPAH WEST MAIDEN STOPE OPTIMIZED RESOURCE ESTIMATE; 2.9 MILLION TONNES GRADING 446 G/T AGEQ FOR 42.6 MILLION OUNCES AGEQ - Blackrock Silver)

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TR, could you find time for a chart on Summa Silver?
“Add low, Trim High”

All Holes at Mogollon have Intersected High-Grade Silver and Gold Zones that Remain Open in All Directions

MOG22-05 is Best Hole Drilled in Company History

Vancouver, May 3, 2022 – Summa Silver Corp. (“Summa” or the “Company”) (TSXV:SSVR) (OTCQB:SSVRF) (Frankfurt:48X) announces high-grade silver and gold drill results from the Mogollon Property near Silver City, New Mexico.

Key Highlights:

  • 31.0 m at 459 g/t silver equivalent* (3.88 g/t Au, 129 g/t Ag) including 0.5 m at 6,311 g/t silver equivalent (66.8 g/t Au, 638 g/t Ag) and 2.0 m at 1,223 g/t silver equivalent (9.32 g/t Au, 431 g/t Ag) in MOG22-05 where total grade thickness through all mineralization is 14,233 g/t AgEq*m (see attached figures).
  • Aggressive Step-Out : Hole MOG22-05 is a 270 m step-out from previously reported MOG22-04 which intersected 11.6 m at 450 g/t silver equivalent (2.7 g/t Au, 220 g/t Ag).
  • Open in all Directions: The newly drilled mineralized zone at the Consolidated Extension target remains open to expansion in all directions.
  • Aggressive Drill Plan: The Company anticipates a minimum of 25,000 m of drilling in 50 holes is necessary for a spacing of approximately 50 m between holes covering an area of approximately 500 x 300 m to publish its first resource estimate on this first Mogollon property target.
  • Work Just Beginning: The Consolidated Extension target represents only 1.5% of the total prospective vein and structure length present on the property. All other prospective areas remain largely un-explored.
  • Drilling to Resume at Mogollon : The Company is planning to resume drilling at Mogollon within 30 days and after the completion of required ongoing wildlife surveys.
  • Drilling Ongoing at the Hughes Property: The core drilling program at the Hughes Property at Tonopah, Nevada continues to be fully operational and assays for 5 additional holes are pending

I like both B2Gold and Calibre. You may remember BE mentioned Calibre a while back on the AUMC/MDMN thread. Calibre recently bought Fiore that has mining projects in Nevada and Washington. I added to accumulation this morning based on the following news. B2Gold also has good news out this morning which I have a position in. Everyone has different trading strategies. I prefer acquiring long-term positions that show enough promise that warrant accumulation and trading around a core after holding a year. I use a proven strategy during these volatile times of “buy Low, Sell High” and rarely exit a position entirely typical of some shorter term swing traders. Both strategies can be highly successful. Everyone needs to to do their own DD and use information that meets their personalized trading strategy.

CALIBRE REPORTS RECORD QUARTERLY GOLD PRODUCTION AT TOTAL CASH COSTS OF $1,060 AND ALL-IN SUSTAINING COSTS OF $1,199 PER OUNCE

May 3, 2022

View PDF

VANCOUVER, British Columbia, May 03, 2022 (GLOBE NEWSWIRE) – Calibre Mining Corp. (TSX: CXB; OTCQX: CXBMF) (“Calibre” or the “Company”) announces financial and operating results for the three months ended March 31, 2022 (“Q1 2022”). Consolidated financial statements and management discussion and analysis for the three months ending March 31, 2022 can be found at www.sedar.com and the Company’s website, www.calibremining.com . All figures are expressed in U.S. dollars.

Q1 2022 HIGHLIGHTS

  • Gold sales of 52,487 ounces grossing $99.6 million in revenue, at an average realized gold price 1 of $1,897/oz;
  • Consolidated total cash costs (“TCC”) 1 and All-In Sustaining Costs (“AISC”) 1 of $1,060 and $1,199 per ounce , respectively;
    • Nicaragua: TCC $1,013 and AISC $1,108 per ounce respectively;
    • Nevada: TCC $1,268 and AISC $1,283 per ounce respectively;
  • Successful completion of the acquisition of Fiore Gold on January 12, 2022 creating a diversified, Americas focused, growing, mid-tier gold producer;
  • Smooth integration of the Nevada assets recognizing initial synergies and savings within the broader entity and stronger balance sheet despite the current inflationary environment;
  • Cash of $77.3 million as at March 31, 2022, after $19.0 million of Fiore Gold acquisition cash components;
  • Net income of $11.7 million; basic net income per share of $0.03;
  • Adjusted net income of $16.4 million or $0.04 per basic share in Q1 2022 2 ;
  • Nicaragua Mineral Reserves increased to 1,013,000 ounces of gold, at a record grade of 4.62 g/t (see news release dated February 23, 2022 );
  • Nicaragua Indicated Mineral Resources increased to 1,806,000 ounces of gold (see news release dated February 23, 2022 );
  • Significant exploration developments include:
    • Drill results from the Pan Mine in Nevada demonstrate resource expansion and higher-grade potential, including 1.02 g/t Au over 50.3 metres, 0.83 g/t Au over 34.0 metres, 0.58 g/t Au over 41.2 metres and 0.68 g/t Au over 24.4 metres (see news release dated March 8, 2022 and April 12, 2022 );
    • 170,000 metre drill program underway which includes resource delineation, infill, and geotechnical drilling as well as early-stage generative exploration drilling to test numerous satellite targets around Libertad, the Eastern Borosi Project and Nevada.
  • Launched the multi-year sustainability strategy (see news release dated March 15, 2022 ).

Novo Resources: Geophysical Surveys to Commence on Battery Metals Targets in the Karratha District of Western Australia

HIGHLIGHTS: Novo’s battery metals exploration program is ramping up, with geophysical surveys already underway in preparation for a significant drill program to commence in Q3 2022 / Induced polarization (“IP”) ground geophysical surveys are currently being conducted across several Ni-Cu targets and Au-Cu-Co targets in the Andover intrusion area and along the East Well/Bob’s Well Cu-Zn… Read more

anyone else nibbling on the mining shares or do you think we’re not done bleeding ?

I bought some ELO & NFG today. I’m watching gold to see if support around 1820 holds.

I bought some NFG today and ELO on Friday at the low. Should have bought this week

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Bought KRRGF at 3.94/3.95 US this morning. Not a good chart reader but I’m thinking it is at a bottom. However, if it falls through resistance at this level, it could drop significantly further. All the fundamentals are good/improving so any downside that develops will just involve a little more waiting to see profits. Should note that the market didn’t like this, " * First quarter 2022 consolidated all-in-sustaining-costs (“AISC”)1 of US$1,396 per ounce sold is a 33% increase compared to first quarter 2021 AISC of US$1,049 per ounce sold (34% increase compared to fourth quarter 2021 AISC of US$1,042 per ounce sold)." Nor did they like that 40% of workers are off due to COVID or otherwise gone.

It appears most of the jump in production costs will likely be temporary and hopefully they can get workers back. They still maintain that, “Full-year 2022 cost guidance remains unchanged at a range of US$950 to $1,050 per ounce sold.”

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Check out the charting page for KRR/KRRGF for a little charting insight if you like Mike.

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Thanks! Will be interesting to see if it falls to that support level today or it recovers due to an over reaction to the news. Might come down to gold trends today which remain choppy at best. Perhaps I jumped back in too soon? It wouldn’t be the first time…aka Novo.

I suspect you’re right in that it depends on what the PM’s do. I’m in the camp that the end of this drop starts a bull market it commodities for the next decade + so from that perspective I wouldn’t sweat it. Any purchase at this point is likely to be profitable with patience, and since you’re still here I think you’ve got the patience game down pretty well! :stuck_out_tongue:

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“anyone else nibbling on the mining shares or do you think we’re not done bleeding ?”

Nibbling on pullbacks on your favorite miners is the right approach, IMO, especially if you are replenishing shares sold earlier at a profit. It is rare to pick the exact bottom in the crazy volatility we are seeing, The entire market is down, and so are the miners. With patience, the PMs have a better chance of recovery than many of the other sectors. I’ve been picking off a few shares here and there - NFG, ELO, KRRGF, DOLLF to mention a few.

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I’m still holding some KRR shares I bought back in the day, sold about 80% when we hit high $6’s, I was waiting to buy back in on a dip but now I have a better chance of making money on other stocks that got smashed this past week than I would with KRR and holding for the high $6’s again. If the market didn’t take the beating I was ready to get back in $5 range. Lots of great opportunity if this is the market low but who knows.

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