Other Mining Stocks

Weekly Discussion
2206

It’s been a long time since anyone has mentioned Artemis, one of the earliest Pilbara plays that received a great deal of attention on this thread.(Rod gave it a mention on Charts for Metals and Stocks last October.) I still have a position so I check it from time to time. Here is some recent news that may be of interest:

Platina Resources - ASX Announcements
28 April 2021

Drilling starts at Munni Munni Project, one of Australia’s largest undeveloped palladium deposits.

Drilling is underway at Platina Resources’ part-owned Munni Munni Project near Karratha in Western Australia, host to one of Australia’s largest undeveloped palladium deposits and endowments of platinum, gold and rhodium.

Platina controls a 30% interest in the project while partner Artemis Resources Limited (ASX:ARV) has the remaining 70% and is operator.

The palladium price has climbed to a record high over US$2,900 per ounce, more than a 50% rise from a year ago. Gold and rhodium prices have also performed very strongly over the last 12 months.

“Given the significant increase in the price of palladium, gold and rhodium during the last year, this has enhanced the number of options available to create value from the project,” said Platina Managing Director, Mr Corey Nolan.

“Platina is working very constructively with Artemis to assess a number of mutually beneficial options to realise value from the project.”

(https://www.platinaresources.com.au/wp/wp-content/uploads/2021/04/PGM_Munni-Munni_28-Apr-21.pdf)

Artemis Resources - ASX Announcement
29 April 2021

Paterson Central – Exploration Programme Update Highlights

• Advanced planning is now underway to test all high priority exploration targets at Paterson Central - Apollo, Atlas, Juno, Voyager and Enterprise.

• Juno and Voyager targets located approximately 9km N of Apollo and have now been prioritised and appear related to a NE-SW striking magnetic feature that transects the nearby Budgiedown magnetic anomaly held by Rio Tinto.

• All these targets are interpreted to sit within the same geological and structural corridor as the Havieron gold-copper discovery that is now under development.

• Apollo and Atlas are to be drilled first and continue to be the highest priority targets coincident with structural, geophysical and geochemical anomalies located ~3km to the NW and N of Havieron and are adjacent to and straddle a major N-S fault that transects Havieron.

• No further drilling planned at Nimitz because assays now received did not return significant gold values to warrant further drilling at this stage.

• Exploration Incentive Scheme (EIS) grant of $150,000 for co-funded diamond drilling has just been awarded to Artemis from the Government of Western Australia for the drilling of the Enterprise targets.

• Several key regional exploration projects are located in the immediate vicinity and adjacent to the Artemis Paterson Central tenement, and the Company notes that the 2021 drilling season is now underway;

o Greatland Gold recently announced the commencement of a drilling campaign under Juri JV with Newcrest.

o Rio Tinto’s Budgiedown and Dekka targets are situated within 7km of the Juno and Voyager targets.

o Newcrest / Greatland Havieron JV drill programmes to grow existing resources and explore for additional orebodies within the confines of the Havieron Mining Licence, surrounded on three sides by Artemis.
(https://wcsecure.weblink.com.au/pdf/ARV/02368424.pdf)

March 2021 Quarterly Report
30 April 2021
Highlights

Summary of Drilling at Carlow Castle

The March Quarterly results include the final assays from the Q4 2020 42-hole multi-drill program and all of the assay results from the Q1 2021 55-hole RC program, with the final assays received 21 April 2021.

Following a multifaceted drilling strategy, these two drilling campaigns at Carlow Castle have returned a number of significant results, which continues to highlight the potential of the deposit.
(https://wcsecure.weblink.com.au/pdf/ARV/02369503.pdf)

also see:
(Paterson Central Gold Copper Project – Artemis Resources)

1 Like
2207

I’ve been buying this little gem from the low $2’s I think it has a tone of potential with a great team.

2208

New Found Intercepts 124.4 g/t Au Over 17.7m and 131.1 g/t Au over 4.65m at Keats

May 4, 2021

Vancouver, BC, May 4, 2021: New Found Gold Corp. (“ New Found ” or the “ Company ”) (TSXV: NFG, OTC: NFGFF) is pleased to announce assay results from an additional four holes drilled at the Keats Zone (“ Keats ”). These holes were drilled as part of the Company’s ongoing 200,000m diamond drill program at its 100%-owned Queensway Project (“ Queensway ”), located on the Trans-Canada Highway 15km west of Gander, Newfoundland.

Highlights

  • Highlights include:

*Note that the host structures are interpreted to be steeply dipping and true widths are estimated to be 70% to 80% of reported intervals. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging. This table shows highlight intervals, a number of these holes returned additional intervals of gold mineralization as reported in Table 2 below.

  • The intervals of 131.1 g/t Au over 4.65m and 124.4 g/t over 17.7m in Hole NFGC-20-59 start at a vertical depth of approximately 27m and continue to approximately 63m vertical depth. These intervals provide further drill confirmation of a broad zone of near surface, high-grade gold mineralization at the north end of Keats (Figure 1).
  • The interval of 41.8 g/t over 2.00m in hole NFGC-21-105B provides further drill confirmation of the continuity of high-grade gold mineralization from sub-crop at bedrock surface at the north of Keats to the furthest interval 350m down plunge at approximately 170m vertical depth (see NFGC-21-143, 16.9 g/t Au over 2.5m and 63.7 g/t over 8.45m, Figure 1).
  • Step-out drilling at Keats continues down plunge. Holes NFGC-21-165 and NFGC-21-182 are the deepest holes completed to date testing to approximately 425m in the down plunge direction. Infill drilling also continues particularly targeting between the plunging dilation zone and surface (Figure 1).

Greg Matheson, P.Geo., Chief Operating Officer of New Found, stated: “ The outstanding intervals of 131.1 g/t Au over 4.65m plus 124.4 g/t over 17.7m in Hole NFGC-20-59 yield the highest width x grade of any hole to date at Keats (cumulative +2800 mg/t). These intervals provide further drill confirmation of the substantial zone of near surface high-grade gold mineralization at the north end of Keats. We continue our infill and step-out drilling at Keats and look forward to reporting further results in the near future.”*

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Note: Au g/t x m calculations include all Keats Main intervals for each hole as reported in Table 2.

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Figure 1. Keats Main Zone Long Section

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Figure 2. Keats Plan View

Drillhole Details

Table 2: Summary of results reported in this release.

*Note that the host structures are interpreted to be steeply dipping and true widths are estimated to be 70% to 80% of reported intervals. Intervals are calculated at a 1 g/t Au cut-off grade; grades have not been capped in the averaging.

Table 3: Location details of drill holes reported on in this release.

2 Likes
2209

Who would have thought that NFG would mean path to riches, instead of No F*in Good !!! :wink:

I was surprised when they were given that stock symbol that they didn’t raise an eyebrow !

1 Like
2210

I’ll take a dozen more like it, please! :rofl:

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2211

Well, thanks to prior long discussions on this thread by Mike and Rick I latched onto NFG and am doing “just fine”.

This board is an excellent place to get tips - and then do your own diligence.

1 Like
2212

At the risk of repeating myself, it is an easier year than most to pick some winning investments and trades. NFG is definitely one of them. Thanks HR & MG for bringing them to the forum. I do have quite a few favorites though, and Blackrock Silver Corp (BRC.V, BKRRF), formerly Blackrock Gold Corp, is definitely one of them. It is still inexpensive at under a buck. I look for it to go much higher. The results of their drilling program continue to impress (highlighted by me for emphasis) :

BLACKROCK DRILLS 3,322 G/T SILVER EQ. OVER 1.5M WITHIN 4.5M OF 1,399 G/T SILVER EQ. IN STEP-OUT DRILLING AND REPORTS DISCOVERY OF NEW VEIN AT TONOPAH WEST

FOR IMMEDIATE RELEASE TSX-V Symbol: BRC

May 05, 2021, ‑ Vancouver, British Columbia. Blackrock Silver Corp. (the “Company”) is pleased to announce more high-grade gold and silver drill intercepts from its core and RC drilling program on the 100% controlled Tonopah West project located in the Walker Lane trend of Western Nevada. These results support the high-grade nature of the DPB and Victor targets; validate the Company’s understanding of the structural orientation of the vein structures at DPB; and highlight the considerable silver and gold potential within these two growing target areas.

HIGHLIGHTS:
Step-out drilling to the west intersected high-grade silver and gold in TW21-068 with 16.0 g/t Au and 1,722 g/t Ag or 3,322 g/t AgEq within a broader zone of 4.5 metres grading 6.56 g/t Au and 743 Ag or 1,399 g/t AgEq on the strike extension of the Merton vein (AgEq=silver: gold ratio 100:1). The Merton vein now has 1.5 kilometres of mineralized strike with high-grade shoots showing up to 400 metres of vertical elevation;
At the Victor target TW21-077 cut two zones grading 3.075 g/t Au and 310 g/t Ag or 617.5 g/t AgEq over 3 metres and 7.6 metres grading 2.139 g/t Au and 230 g/t Ag or 444 g/t AgEq including 1.5 metres grading 4.89 g/t Au and 512 g/t Ag or 1,001 AgEq. The silver-gold results bolster the Victor target and confirm the thick, high grade nature of the Victor vein.The Victor/Murray veins system has 500 metres of strike from the eastern project boundary to the Pittsburgh-Monarch fault system;
TW21-093C represents a step out along the Victor/Murray vein system.This drillhole cut 1.93 g/t Au and 203 g/t Ag or 400 g/t AgEq over 0.8 metres and extends the mineral system to the east;
Drilling has discovered a new mineralized vein on the footwall side of the Pittsburgh-Monarch fault system with 2.2 metres grading 1.53 g/t Au and 141 g/t Ag or 294 g/t AgEq in TW21-092C and 3.9 metres grading 0.48 g/t Au and 67 g/t Ag or 115 g/t AgEq in TW21-033C.This new vein may represent the faulted offset portion of the Victor/Murray vein system; and
The first hole of the core in-fill drilling program on the Denver vein returned 3.1 metres yielding 1.3 g/t Au and 136 g/t Ag or 265 g/t AgEq in TXC21-001.

"In under one year we have completed 53,000 metres of drilling and have successfully identified ten high-grade veins ranging in size from 400 metres up to 1.5 kilometres in strike, almost all of which remain open for expansion. …
(News | Blackrock Silver)

1 Like
2213

One mining company I just heard about yesterday GMTN Gold Mountain Mining Corp close to home in Kelowna, anyone know anything about this company looks to have some promising signs?

2214

Copper’s supply crunch will drive prices to $13,000 or even $20K - Bank of America

May 5 Kitco

  • Copper’s unprecedented run to a 10-year high of $10,000 per tonne on the London Metals Exchange (LME) could just be the start of a much larger uptrend, according analysts at Bank of America.

In a report Monday, the bank’s analysts said that they could see copper prices rallying to $13,000 a tonne as the market continues to see a significant supply crunch and growing demand. Copper prices on the LME are currently trading at $9,932.50 a tonne , down 0.32% on the day.

The analysts noted that the copper supply, as measured by inventories in LME warehouses, is at its lowest level in 15 years. They added that stocks could currently cover 3.3 weeks of demand.

1 Like
2215
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2216

From Karora News Release this morning:
May 7, 2021

Highlights
• First quarter 2021 consolidated gold production of 24,694 ounces and gold sales of 25,547 ounces was precisely on track with budget, positioning the Company well to deliver 2021 guidance. Full year consolidated 2021 gold production guidance of 105,000 to 115,000 ounces is maintained (assumes no significant interruption in operations as a result of the COVID-19 virus).

• First quarter 2021 consolidated all-in-sustaining-costs (“AISC”)1 of US$1,049 per oz. was in line with the full year 2021 guided range of US$985-$1,085 per ounce and sets the pace for continued strong cost performance during 2021.

• Net earnings of $5.6 million or $0.04 per share for the first quarter of 2021 compared to $0.5 million in the first quarter of 2020. First quarter earnings were negatively impacted by a non-cash unrealized foreign exchange loss of $4.5 million (or $0.03 per share).

• Adjusted earnings1 of $8.1 million or $0.06 per share for the first quarter of 2021.

• Adjusted earnings before interest, taxes depreciation and amortization (“EBITDA”)1 was $21.2 million or $0.15 per share for the first quarter of 2021, a $1.8 million increase compared to $19.4 million for the first quarter of 2020.

• Cash flow from operating activities of $18.7 million or $0.13 per share, a 53% increase compared to $12.2 million for the first quarter of 2020.

• Cash Position and Balance Sheet: Karora ended the first quarter of 2021 with a strong cash position of $76.7 million, and working capital of $63.2 million, slightly lower by $3.0 million and slightly higher by $6.4 million respectively from December 31, 2020. The cash position decrease was due to timing of planned investment into Karora’s assets as part of 2021’s capital program as well as a scheduled US$2.5 million cash payment to Maverix Metals as part of the Beta Hunt royalty buy back agreement announced in 2020.

• Phase I mill expansion to increase capacity by 15%, or 550 tonnes per day, to 1.6 million tonnes per annum is proceeding ahead of schedule having already achieved an annualized production rate of 1.5 million tonnes per annum (up from the prior capacity of 1.4 million tonnes per annum).

• At Beta Hunt’s Larkin Zone, drilling intersected 19.0 g/t gold over 9.0 metres, including 542 g/t over 0.3 metres in hole EL-EA2-023E with visible gold mineralization observed in the drill core. The Larkin Zone discovery was announced in September 2020.

• Second new high grade nickel discovery at Beta Hunt in the last six months, known as the “Gamma Zone - 50C”, where 1.6% nickel over 4.6 metres, including 18.4% nickel over 2.2 metres was intersected in hole G50-22-005E. The drilling, which was targeting nickel, also intersected gold mineralization above and below the 50C trough and suggests the Beta Hunt gold mineralized system extends for over 3.5 kilometres of strike from the northern end of the A Zone.

• At the Lake Cowan prospect, air core drilling on the dry salt lake returned an interval of 1.35 g/t gold over 50 metres, including 3.64 g/t over 16 metres from hole HIGA8864, an excellent result from first pass drilling in this underexplored area.

• At the Spargos Reward Gold Project, continued strong drilling results were announced, including 6.1 g/t over 14.0 metres in hole SPDD0003, which confirmed the interpreted high grade gold plunging shoot thesis by extending the shoot to over 300 metres down-plunge (remains open down-plunge).

Paul Andre Huet, Chairman & CEO, commented: "I am pleased with Karora’s first quarter performance, which places us on a very strong footing to achieve our full year 2021 gold production guidance of between 105,000 and 115,000 ounces and AISC1 of US$985-$1,085 per ounce sold. First quarter gold production of just under 25,000 ounces was right on budget as we prepared new higher grade mining areas at Higginsville Central. Over the course of 2021, as we have previously stated, we expect quarterly grade improvements resulting from Spargos and Two Boys to drive increased production towards the second half of the year.

1 Like
2217

I mentioned Fortitude Gold back in February when it was $3.28 / share. Just an update. Now it is $5.50.

  • New mine but an experienced executive team having operated Gold Resource for over 10 years.
  • They are a 40 KOz annual producer. 11 KOz in Q1 2021.
  • Mining grades of about 3 g/t for the next 5 years or so
  • They are low risk technically as they mine smallish very shallow open pits (so far)
  • They are jurisdictionally low risk as they operate in Nevada
  • AISC was $950 in 2020 but is expected to drop below $700 over the course of this year as they will have completed their stripping (most overburden will have been removed) so their costs will drop
  • They just raised their dividend 50% and now sit at $0.36 / yr or about 6.5% yield
  • They have already identified and are drilling probable resource expansions near their current mine
  • Current market cap is only $133M
1 Like
2218

Thanks for sharing, Cornhusker - Barrick (ABX) pays about a 1.53% dividend these days. Newmont about 2.2%.

One could get into Fortitude Gold and watch drilling results closely, with an eye toward preserving the dividend and future value.

It was a surprise to me a couple years back when I heard that Nevada is one of the most prolific gold producers in the WORLD. I was putting some money into Ely Gold Resources.

1 Like
2219

Artemis to raise $156 million for Blackwater development and other purposes

TOO BAD IT’S NOT THE AUSTRALIAN ARTEMIS !

Monday May 10, 2021 13:31

Kitco News

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(Kitco News) - Artemis Gold (TSX-V: ARTG) announced Monday that it has entered into an agreement with a syndicate of underwriters co-led by National Bank Financial and BMO Capital Markets under which the underwriters have agreed to buy on bought deal basis 16,394,000 common shares, at a price of $6.10 per common share for gross proceeds of approximately $100,003,400.

The company said it is also undertaking a non-brokered private placement whereby up to 9,200,000 common shares will be issued to insiders of the company and to a president’s list, at the offering price, for gross proceeds of up to $56,120,000.

The bought deal offering is expected to close on May 19, 2021 and the non-brokered offering is expected to close on or before May 31, 2021.

According to the statement, the net proceeds of the offering will be used to make the final cash acquisition payment to New Gold pursuant to an asset purchase agreement dated June 9, 2020 between Artemis and New Gold, fund permitting and development costs for the company’s Blackwater gold project and for general corporate purposes.

1 Like
2220

I do think Artemis Resources Ltd. could raise $156 though. :smile:

1 Like
2221

With Quarterly earning out (and other news), it looks like Gold and Silver miners are generally projected to do very well. Here from marketbeat.com are headlines I received today on some of my equity holdings, FWIW

• --National Bank Adjusts Fortuna Silver Mines PT to C$12 From C$10.50, Maintains Sector Perform Rating
MT NEWSWIRES 12:55 PM

• --National Bank Adjusts Pan American Silver PT to C$55 From C$48, Maintains Outperform Rating
MT NEWSWIRES 12:55 PM

• --National Bank Adjusts Osisko Gold Royalties PT to C$21.50 From C$20, Maintains Outperform Rating
MT NEWSWIRES 12:53 PM

• --National Bank Adjusts Sandstorm Gold PT to C$13 From C$12, Maintains Outperform Rating
MT NEWSWIRES 12:46 PM

• --National Bank Adjusts Wheaton Precious Metals PT to C$75 From C$72.50, Maintains Outperform Rating
MT NEWSWIRES 12:52 PM

  • Blackrock Silver Up after Reporting Private Placement, Investment by First Majestic Silver
    MT NEWSWIRES 05/19/2021 11:01 AM

BRIEF-Novo Secures Access To PhotonAssay Services By Executing Agreement With Intertek
REUTERS 05/18/2021 8:50 AM

2222

NFG - the spectacular hits just keep on hitting. I’m surprised Mr. Bubba didn’t post this from Friday (announced on a Friday afternoon to completely catch the short sellers by surprise on a 3-day weekend for Canadian markets). NFG finished up 18% to $10.86. Novo Resources is a 10% owner of NFG which now has a market cap over $1.5 billion.

3 Likes
2223

Yeah, I think there’s a much bigger short interest on the TSX than there is on the OTC. We’ll see tomorrow, and maybe the OTC version will benefit from the Canadian covering too? Don’t know, but thanks very much for helping my accounts go up - the 50k swings are very enjoyable. Hopefully you were still in, and the foregoing comments are not a stick in the eye.

1 Like
2224

By the way, I put a few bucks into Labrador Gold last week. The week before, Sprott/NFG injected about $15 Million into this company whose property abuts NFG’s on the north end and hosts the Appleton Fault, according to their mapping. The company says its surface samples near their “Big Vein” outcropping has returned results up to 1,065 g/t, and their first two drill holes have hit near-surface mineralization (announced May 10). Basically a nearology play - but I babble here, as Rick and Mike have probably already cussed/discussed this one ad infinitum as well.

2225

I generally save the type of article I’m posting here today for a long week-end read, but I just came across this one. I think it is quite well done with useful information for those investing/holding silver miners (also gold and copper if you follow the links). It does give credence to the bright future for the demand for silver. Here is the major excerpt from the conclusion and the link.

Peak mined silver reached

Rick Mills - Ahead of the Herd | May 25, 2021 | 10:59 am Intelligence Markets Silver

Conclusion

All of the above taken into account, industrial demand for silver is projected to notch an 8-year high of 524Moz in 2021.

It seems clear to us, given this relatively brief analysis, that the role of silver is changing. Once considered the ugly stepsister of gold, either referred to as “poor man’s gold” for its affordability or “the devil’s metal” for its volatility, silver has been given a new make-over as a green metal.

The most conductive of all the metals, silver is ideal for use in solar panels, 5G, and automotive applications including EVs which use up to twice as much silver as regular vehicles.

The need for silver in all three applications is going up. Silver demand for “printed and flexible electronics” is forecast to increase 54% over the next 9 years.

According to Sprott Insights, silver plays a critical role in all “green revolution” discussions, even more fundamental than cobalt, lithium and nickel, battery metals that are more usually associated with electrification.

The United States, Canada and other countries that have committed to lowering carbon emissions, are going to need more silver, to go into electric vehicles, charging stations, 5G, and for the cables connecting new wind turbines and solar farms to the grid.

Sprott Insights recognizes the problem, and so do we: supply is limited. In the first part of the article we showed that we have already reached peak mined silver. Silver mines currently do not produce enough silver to meet demand without recycling. It’s the same situation with gold and copper.

(Peak mined silver reached - MINING.COM)

1 Like