Glad it worked out for you Easy. I also took a starter position, and have since added quite a bit at .33 which is also looking quite nice right now.
I like the news from Sandstorm and have finally seen my position turn positive today . I think it is a long-term investment. There are many things to like in today’s PR. I selected 3 that I particularly like. Read the entire PR if interested.
SANDSTORM GOLD ANNOUNCES RECORD PRODUCTION, COMPLETES SALE OF US$18 MILLION OF EQUINOX SECURITIES AND PROVIDES ASSET UPDATES
Vancouver, British Columbia | January 3, 2018
SANDSTORM SELLS RECORD NUMBER OF GOLD EQUIVALENT OUNCES IN 2017
During the 2017 year, Sandstorm sold approximately 54,600 attributable gold equivalent ounces1 (FY 2016 – 49,731 ounces), the highest yearly total in Company history. The attributable gold equivalent ounces were generated from 20 streams and royalties, with approximately 80% of the ounces coming from operations run by major and mid-tier mining companies.
DEVELOPMENT CONTINUES AT HOT MADEN
Lidya Madencilik San. ve Tic. A.?. (“Lidya Madencilik”) is continuing to advance the Hot Maden project located in northeast Turkey. Recent work has included mine design, metallurgical test work, geotechnical analysis, environmental studies and exploration drilling. This work is culminating in a Pre-Feasibility study which is on track to be released in the first half of 2018.
Approximately 25,000 metres of infill and exploration drilling has been completed at Hot Maden during 2017. Recent drill highlights include:
HTD-157: 28.0 metres of 47.5 g/t gold and 1.65% copper from 287.0 metres including,
7.0 metres of 97.6 g/t gold and 3.86% copper from 308.0 metres;
HTD-159: 3.5 metres of 32.3 g/t gold and 0.87% copper from 165.5 metres and 4.0 metres of 7.4 g/t gold and 1.74% copper from 210.0 metres.
For QA/QC information see the appendix of this news release. Sandstorm has a 30% profits interest and a 2% NSR royalty on the Hot Maden project.
MCEWEN ANNOUNCES TIMMINS EXPLORATION PROGRAM
McEwen Mining Inc. (“McEwen”) announced a strategic financing of US$10 million to accelerate exploration at their properties near Timmins, Ontario, with a focus on the Black Fox property. Deep exploration drilling below the bottom of the known mineralization at Black Fox is a high priority and a program of deep directional exploration drilling from surface is underway. Black Fox currently hosts resources to a depth of 880 metres.
Another important target on the Black Fox property is the area around the Froome deposit, located 800 metres to the west of the Black Fox mine. An additional exploration program has been proposed to test the geologic structure to the northwest and southeast of the mine.
For more information, visit the McEwen website at www.mcewenmining.com and see the press release dated December 1, 2017.
Sandstorm has a gold stream agreement to purchase 8% of the gold produced from Black Fox at an ongoing cost of US$531 per ounce.
http://sandstormgold.com/news/release/index.php?content_id=560
Barkerville Gold Mines Ltd. - 2017 Corporate Update and 2018 Objectives
Gold Project Brownfield Exploration Barkerville’s 2017 Exploration program was focused on its flagship Cariboo Gold Project located within Central British Columbia. The company completed a 157,000 meter drilling campaign focused on resource delineation and expansion drilling on Cow and Island Mountain, with the majority focused on the Valley Zone and Shaft Zone. Significant high-grade intercepts confirmed the mineralization model, grade continuity, and geometries.
Some significant recent drill intercepts are as follows: 72.23g/t over 12.05m, 53.26g/t over 11.55m, 18.84g/t over 30.85, 14.69 g/t over 28.5m, and 20.53 g/t over 11.6m.
Barkerville was able to identify and wire frame 145 vein corridors which will be the base for the resource estimate in 2018.Greenfield Exploration Barkerville’s greenfield exploration team was tasked with developing targets to the
southeast of the central project area along the 67 kilometers of strike
within the company’s Cariboo Gold Project.
Systematic, scientific exploration was able to identify 130 new targets through detailed mapping, soil, and rock sampling. Eleven of these are now at the drill
ready stage.
Operations (Bonanza Ledge) Portal and underground development began in the second semester of 2017 at the Bonanza Ledge mine. Barkerville completed 470 meters of underground development in 2017. Approximately 7000 tonnes of both low and high-grade development material was processed at the company’s 100% owned QR mill for commissioning and training purposes.
The Mill will be restarted in March 2018 when a sufficient stockpile is on site at QR. 2018 Objectives In 2018 the company is planning to undertake several actions which are anticipated to be substantial catalysts for Barkerville.
We plan to publish an initial resource for Cow Mountain, Island Mountain and Valley Zones as well as an update for Barkerville Mountain,. Barkerville will
initiate drill testing of regional targets to confirm the mineralization
model and district scale upside.
Bonanza Ledge anticipates finishing development in Q1 with stope production to follow. The company will also start its underground access, permit depending, in order to explore for increased underground resources at Cow and Island Mountain targets. This should reduce future drilling cost and improve our understanding of the mineralization. This underground access will also allow for trial stoping and bulk sampling that will supply valuable data related to rock
mechanics, dilution, operating costs and processing.
Barkerville drills 5.55 m of 29.2 g/t Au at Cariboo
2018-01-09 07:32 ET - News Release
Mr. Chris Lodder reportsBGM INTERSECTS 29.20 G/T AU OVER 5.55 METRES AT SHAFT ZONEBarkerville
Gold Mines Ltd. has released additional drilling results from the 2017
phase 2 Island Mountain exploration and infill drilling program at the
company’s flagship Cariboo gold project. The company is currently
exploring and delineating the Shaft zone with five drill rigs. Detailed
drilling results, a drill hole location plan map and vertical sections
are presented on the company’s website. The exact geometry and hence
true width of the mineralized zones cannot be assuredly concluded at
this time therefore core lengths are reported.
Drilling highlights:
IM-17-196: 16.38 grams per tonne gold over 5.80 metres;
** IM-17-198: 5.20 g/t Au over 6.25 metres;**
** IM-17-202: 29.20 g/t Au over 5.55 metres;**
** IM-17-205: 8.21 g/t Au over 4.85 metres.**
Continued expansion of vein corridors
The company is pleased to report mineralization expansion from
the continuing drilling at Shaft zone. Phase 2 drill hole IM-17-196
intersected 16.38 g/t Au over 5.80 metres at a vertical depth 380 metres
below surface. This new intersection is open along strike to the
northeast. Previously reported hole IM-17-146 is located 35 metres to
the southwest and averaged 17.45 g/t Au over 8.60 metres. Farther uphole
at a vertical depth of 175 metres, IM-17-196 also intersected 6.63 g/t
Au over 4.40 metres and correlates with previously reported hole
IM-17-115 that graded 10.14 g/t Au over 4.00 metres.
On the northwestern extents of the Shaft zone, drill hole
IM-17-202 intersected a well-mineralized vein zone grading 29.20 g/t Au
over 5.55 metres at a vertical depth of 85 metres from surface. Drilling
in this area is sparse and the closest intersection is previously
reported drill hole IM-17-030, 135 metres downdip and assayed 9.35 g/t
Au over 1.00 metre. This new intersection warrants additional drilling
is in this area.
Thanks for these discussions. I picked up a starter position with Barkerville mining a while back. I don’t have the time to constantly be scanning for these opportunities, so all the DD here helps.
The USD index is at a critical downtrend juncture (top). Lowest level since 2014.
Correspondingly, oil continues creeping up (bottom) and looks either to bounce down or break out to the upside.
Gold continues a nice rise in $$$ and is near all time highs in several other currencies.
Copper led the way up but has been pausing for a while. Additional comments on copper in the next post.
All this has caused lots of watchful eyes be on the lookout for official CPI inflation. But not much yet. The oil price is starting to show up at the pump though.
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Hey Corn… thanks for the breakdown! Johnny~
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As of tonight (1/14/18) spot gold price ($1341.66) is continuing uptrend.
Over the next few weeks CME ($1334.90 on 1/12/18) should prove quite interesting to follow.
Maybe Auyrn waiting for 1400 or 1500 to light a fuse. My PM find is making me feel better vs the MDMN downer and disaster.
TDK
I was kinda hoping gold would hold off, trying to get somemore cheap mining shares!
Excerpts from news release:
McEwen Mining Reports 2017 Full Year and Q4 Production Results
TORONTO, Jan. 15, 2018 (GLOBE NEWSWIRE) – McEwen Mining Inc. (NYSE:MUX) (TSX:MUX) reports annual consolidated production in 2017 was 109,947 gold ounces and 3,178,742 silver ounces, or 152,329 gold equivalent ounces(1), at a gold to silver ratio of 75:1.
Q4 2017 Highlights
El Gallo achieved production of 19,893 gold equivalent ounces in Q4, successfully recuperating lost production due to equipment failure in July.
Black Fox had a good first quarter after the transition to MUX ownership, producing 14,279 gold equivalent ounces.
Funding for a $10 million exploration program in the Timmins region, focusing on the Black Fox Complex.
ABOUT MCEWEN MINING
McEwen has the goal to qualify for inclusion in the S&P 500 Index by creating a profitable gold and silver producer focused in the Americas. McEwen’s principal assets consist of the San José mine in Santa Cruz, Argentina (49% interest), the El Gallo Gold mine and El Gallo Silver project in Mexico, the Black Fox mine in Timmins, Canada, the Gold Bar future mine in Nevada, and the Los Azules copper project in Argentina.
McEwen has a total of 337 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns 24% of McEwen.
https://globenewswire.com/news-release/2018/01/15/1289184/0/en/McEwen-Mining-Reports-2017-Full-Year-and-Q4-Production-Results.html
From earlier in the year:
Anyone else in Silver Streamers?
I like and have a position in SSRM mining company (formerly Standard Silver) that diversified with an accompanying name change a while back.
Excerpts from news release:
SSR Mining Reports Fourth Quarter and Year-End 2017 Production Results and 2018 Guidance
VANCOUVER, Jan. 15, 2018 /PRNewswire/ - SSR Mining Inc. (NASDAQ: SSRM) (TSX: SSRM) (“SSR Mining”) reports fourth quarter and year-end 2017 operating results. Additionally, we are providing 2018 guidance.
Fourth Quarter and 2017 Operating Highlights
- Achieved total production guidance: Produced over 370,000 gold equivalent ounces in 2017, meeting or exceeding initial guidance for a sixth consecutive year. Delivered attributable gold equivalent production of over 358,000 ounces in 2017 and over 88,000 ounces in the fourth quarter, 14% higher than the third quarter of 2017.
- Achieved gold production guidance at Marigold: Quarterly gold production of 52,768 ounces, 36% higher than the third quarter of 2017, resulted in annual production of 202,240 ounces of gold in 2017.
- Record quarterly production at Seabee: Achieved record mill throughput of 89,237 tonnes or 970 tonnes per day during the fourth quarter, which combined with higher milled grades and improved recovery resulted in record quarterly gold production of 24,227 ounces.
- Delivered record annual gold production at Seabee: The mine achieved the highest annual production in its 27-year history, producing 83,998 ounces of gold in 2017, at the upper end of the upwardly revised annual guidance.
- Exceeded annual production guidance at Puna Operations: Exceeded the upper end of the upwardly revised annual production guidance with a total of 6.2 million ounces of silver. Continued excellent performance of stockpile processing resulted in silver production of 1.2 million ounces in the fourth quarter.
Paul Benson, President and CEO said, “A strong fourth quarter at all three operations resulted in annual production of over 370,000 gold equivalent ounces. This marks the sixth consecutive year that we have met or exceeded our production guidance. All three operations performed well, particularly Puna Operations which exceeded the top end of its improved production guidance. These results are driven by our teams and their continued focus on Operational Excellence to optimize our operations. In the year ahead, we are positioning the company to grow production as Seabee ramps up and the Chinchillas deposit comes on-line in Argentina. Importantly, our exceptionally strong balance sheet enables us to increase our investment in brownfields exploration at both Marigold and Seabee.”
SSR Mining Reports Fourth Quarter and Year-End 2017 Production Results and 2018 Guidance
Inventus Mining Engages STEINERT and WSP
TORONTO, Jan. 18, 2018 (GLOBE NEWSWIRE) – Inventus Mining Corp. (TSX VENTURE:IVS) (“Inventus” or the “Company”) is pleased to announce that it has engaged STEINERT and WSP to help advance the Pardo project to the next phase of development.
“On the heels of a very positive result from our recently completed 1,000 tonne bulk sample at Pardo, we are moving ahead with engineering studies to build on our technical knowledge and test real-world mining equipment in preparation for the next phase of development, which will involve larger scale trial mining,” said Stefan Spears, Chairman and CEO.
STEINERT is a global leader in sorting and separation solutions for the mining industry. The firm has over 125 years of experience, and excels at providing customers with technologically advanced sorting solutions. STEINERT will be evaluating the performance of their state-of-the-art multi-sensor ore sorting machine on material from the Pardo project. The demonstration machine used for testing is located in Kentucky, but similar units may soon be accessible much closer to the project in Sudbury and Timmins. www.steinertglobal.com
WSP is a global engineering firm based in Montral, with over 700 mining specialists worldwide. They offer the mining companies comprehensive solutions at every stage of a mining project development or implementation. WSP will be updating the NI 43-101 Technical Report for the Pardo project (the prior report was prepared for Inventus (Ginguro) by WSP in March 2015). www.wsp-pb.com/en/WSP-Canada/
Read more at Stockhouse
FWIW I doubled my position in this, on the last drop
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I think they’ll start to really kick it in gear this summer when they undergo the 10,000 tonne bulk mining program this summer at the 007 zone (36.5 g/t over 31 meters in surface channel sampling). If the grades from the bulk samples are representative of those results, then McEwen will pounce on it. They’ve already used MUX’s Blackfox mill to process the 2017 bulk sample.
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USD Index broke below 90 tonight for the first time since 2014 and has broke a 60 month average to the downside. Does not look pretty. But should be good for gold (in USD) and commodities.
Some hard money types (e.g. gold bugs) view this as a predicted reckoning of the U.S. dollar for U.S. govt debt and liabilities out of control, or perhaps ongoing loss of reserve currency status. And perhaps those ideas have some merit.
Martin Armstrong suggests there will be a period of USD weakness but then because everyone will jump on one side of that trade and this will lead ultimately to a major restrengthening of the U.S. dollar and that will lead to a major crisis in the international monetary system because foreign debt denominated in USD will become impossible to pay back.
Whatever happens in the big picture, rising gold and copper prices will lead to majors reporting improving profits which should draw more money back into the sector.
UPDATE: This morning the dollar index is down to 89.53. Gold futures break $1350. Bloomberg reports the administration is talking the dollar down internationally at the risk of an explicit trade war: https://www.bloomberg.com/news/articles/2018-01-24/mnuchin-says-weaker-dollar-is-good-for-u-s-due-to-trade
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Gold moving up on weaker dollar this morning.
USD Index just fell below $89; Gold spot and futures above $1360.
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Anyone following Anaconda Mining Inc.?
Anaconda Mining Intersects 34.70 G/T Gold over 3.5 Metres and 24.34 G/T Gold Over 3.8 Metres at Goldboro; Expands Mineralization Beyond Existing Resource
BY Canada NewsWire
— 7:00 AM ET 02/07/2018
TORONTO, Feb. 7, 2018 /CNW/ - Anaconda Mining Inc. (“Anaconda” or the “Company”) is pleased to announce assay results for the first five holes (BR-17-06 to 10) of an ongoing 6,000-metre diamond drilling program at the Company’s Goldboro Project in Nova Scotia (“Goldboro”), the subject of a recent positive PEA announcement (See press release dated January 17, 2018).
Highlights from this drill program include multiple occurrences of visible gold, and assays of high-grade tenor including the following:
34.70 g/t gold over 3.5 metres (82.0 to 85.5 metres) in hole BR-17-09;
24.34 g/t gold over 3.8 metres (389.9 to 393.7 metres) in hole BR-17-06;
9.12 g/t gold over 3.2 metres (293.8 to 2.97 metres) in hole BR-17-08;
31.56 g/t gold over 1.0 metre (259.0 to 260.0 metres) in hole BR-17-08;
59.97 g/t gold over 0.5 metres (272.7 to 273.2 metres) in hole BR-17-06; and
17.68 g/t gold over 0.5 metres (69.6 to 70.1 metres) in hole BR-17-10.
The Company has completed eight diamond (BR-17-06 to 13) drill holes totaling 3,553 metres since the commencement of the drill program in October, 2017. The program focused on a combination of down-plunge exploration and infill drilling on three geological sections of the Goldboro Deposit. Each of the drill holes successfully intersected mineralized zones of both the East Goldbrook (“EG Gold System”) and Boston Richardson (“BR Gold System”) gold systems, as demonstrated on cross section 9150E (Exhibit A and B), reinforcing the potential for down-dip and down-plunge extension of the Goldboro Deposit. Assays for the first five holes (BR-17-06 to 10) include multiple occurrences of visible gold and assays with high-grade tenor. Assays are pending for drill holes BR-17-11 to 13.
“Anaconda continues to achieve successful results at its 100% owned Goldboro Project, following on from the recently announced preliminary economic assessment, which demonstrates a high-grade, long-life project. In our first significant diamond drilling campaign at Goldboro, we’re hitting high-grade intersections and multiple occurrences of visible gold within new areas of drilling down-dip and down-plunge of the known deposit and have extended the plunge of mineralization by as much as 375 metres. With the expansion of mineralization, the Goldboro Deposit is well positioned to grow beyond the current resource, while infill drilling results generate higher confidence in the known mineral resource as well as finding additional mineralized zones not previously modeled.”
~Dustin Angelo, President and CEO
also:
Anaconda Announces Completion of Share Consolidation
TORONTO , Jan. 18, 2018 /CNW/ - Anaconda Mining Inc. (“Anaconda” or the “Company”) (ANX.TO) is pleased to announce that it has completed the previously announced proposed consolidation (the “Share Consolidation”) of its share capital on the basis of four (4) existing common shares for one (1) new common share. As a result of the Share Consolidation, the 423,430,258 common shares issued and outstanding were consolidated to approximately 105,857,564 common shares.
Nice move today - Mentioned back in Oct to put on watch list (post #550) …
K92 Achieves Commercial Production at Kainantu Gold Mine
VANCOUVER, British Columbia, Feb. 07, 2018 (GLOBE NEWSWIRE) –
K92 Mining Inc. (“K92”) (TSX-V:KNT) (KNTNF) is pleased to announce it has achieved and declares commercial production effective February 1, 2018 at its Kainantu Gold Mine in Papua New Guinea.
Production for the month of January 2018 exceeded 2,700 ozs gold equivalent (2,500 ozs gold). At this level of production, based on the budgeted monthly operating costs, Total Cash Costs1 for the month of January are expected to be below US$850/oz gold equivalent.
K92 defined commercial production as having commenced stope production underground, achieving a minimum of 60% of designed gold production and a minimum of 90% of designed metal recovery from the process plant over a 30 day period. These metrics were met during the month of January and the company expects them to be maintained going forward and has therefore declared commercial production effective February 1, 2018.
Production levels from Kora North are anticipated to continue building up over the coming months from development and tonnage from the cut and fill stopes, with design levels expected to be achieved during the June 2018 Quarter, when the first long hole stope production commences.
John Lewins, K92 Chief Executive Officer and Director, states, “We are extremely pleased to have reached this very significant milestone of commercial production. That we have achieved this mining the Kora North Lode, eight months after drilling the first discovery hole and just four months after commencing grade control drilling and the treatment of the initial bulk sample is a testament to the professionalism, enthusiasm and ability of the entire team at our Kainantu operation.”
K92 has not based its production decisions on ongoing mine production or mineral reserve estimates or feasibility studies, and historically such projects have increased uncertainty and risk of failure. Mineral resources that are not mineral reserves do not have demonstrated economic viability.On behalf of the company,
John Lewins
Chief Executive Officer and Director
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Inventus Update: Ore Sorting at STEINERT
On February 15th the ore sorting was conducted at the STEINERT facility in Kentucky, USA.
This work was initiated as a follow up on previous test work that was very favourable. Initial test work indicated that 65% of the material could be removed as waste. The remaining 35% of the material contained 91% of the gold for an upgrade ratio of 160% (see press release April 5th 2017).
Theoretically, if we had sorted our 1,000-tonne bulk sample with a head grade of 4.2 gpt (see press release January 3rd, 2018) we would have only milled 345 tonnes (35% of 985 tonnes) with a total gold content of 121.7 Troy ounces (91% of 133.8 troy ounces) for a head grade of 10.8 gpt.
The potential to sort the mineralized conglomerate ore at Pardo is a game changer for the project. It would significantly reduce capital costs in a mining scenario and could potentially lower the cutoff grade of a future resource.
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