Other Mining Stocks

Weekly Discussion
2246

More NOVO news:

Quarterly Operational Update; Increased Production From Beatons Creek

  • No lost time injuries at the Beatons Creek conglomerate gold project in Nullagine, Western Australia (the “ Nullagine Gold Project ”)
  • Record gold production of 5,898 oz Au in June , a 16.5% increase over May (Q2 2021 – 14,890 oz Au)
  • June revenue of C$11.9 million (A$12.8 million) , an 11.4% increase over May (Q2 2021 – C$31.7 million (A$33.1 million))
  • Operational positive cash flow from Nullagine Gold Project achieved in May and June
  • Mining and processing rates continued to increase, with 232 kt gold-bearing conglomerate material mined in June (Q2 2021 – 477 kt gold-bearing conglomerate material mined) and 134 kt gold-bearing conglomerate material processed in June (Q2 – 366 kt gold-bearing conglomerate material processed)
  • Recovery rates reaching optimal levels, with June recovery of 96.4% , up from 94.4% in May
  • Significant cost saving and operational improvements , including flight sharing arrangements
  • Quarter-end cash balance of C$46.3 million. The fair value of Novo’s investments also increased to approximately C$200 million 1 (Q1 2021 balance – approximately C$77 million2)

“We are very pleased with the operational trajectory of the Nullagine Gold Project,” commented Mr. Rob Humphryson, CEO and a director of Novo. “All key project metrics are trending positively and the Novo team are working diligently on operational improvements that will further benefit the operation. Given the abundance of gold-bearing conglomerate mineralization across the Pilbara region (refer to the Company’s news release dated June 3, 2021 ), we are pleased to demonstrate that the Nullagine Gold Project is generating positive cash flow. We look forward to providing our investors with regular quarterly updates.”

VANCOUVER, British Columbia, July 07, 2021 (GLOBE NEWSWIRE) – Novo Resources Corp. ( “Novo” or the “Company” ) (TSX: NVO, NVO.WT & NVO.WT.A) (OTCQX: NSRPF) is pleased to provide a quarterly operational update from the first full quarter at the Company’s Nullagine Gold Project.

NULLAGINE GOLD PROJECT

Safety and Sustainability

The lost time injury frequency rate for the past twelve months remains at zero for the Nullagine Gold Project and also for the Company.

The Company works in numerous communities across the Pilbara region of Western Australia and endeavours to be a responsible and trusted corporate citizen throughout all aspects of its operations, as evidenced by recent co-funding of the construction of a playground for local youth in the town of Nullagine.

The Company responded swiftly to COVID-19 related lockdown measures implemented by the Western Australian government in late June and has not been materially impacted by COVID-19 to date.

Gold Production

Gold production at the Nullagine Gold Project continued to increase month-on-month with a record month of 5,898 ounces produced during June 2021 ( Figure 1) . Q2 2021 gold production totalled 14,890 ounces.

Figure 1 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/7a528f13-9833-4433-bf22-05988dd6e2e9

Processing

Mill throughput continued to increase month-on-month. As contemplated in the Company’s news release dated June 8, 2021, the processing plant’s annualized rate is increasing towards 1.8 mtpa ( Figure 2 ). A total of 134 kt of gold-bearing conglomerate material was processed in June, for aggregate Q2 2021 processing of 366 kt of gold-bearing conglomerate material. Recovery rates have also increased steadily in Q2 2021, with record recovery of 96.4% achieved in June, up from 94.4% in May. June average grade was 1.45 g/t Au, an increase over Q2 2021 average grade of 1.30 g/t Au.

Mining

Mining productivity has continued to improve, with record movement of 232 kt gold-bearing conglomerate material in June, for aggregate Q2 2021 movement of 477 kt gold-bearing conglomerate material. Ozland Drill and Blast Pty Ltd (“ Ozland ”) has mobilized to site and have assumed drill and blast operations ( Figure 3 ). The Company has also internalized control of its explosive supply to optimize cost and operational efficiencies in conjunction with its transition to Ozland.

Figure 2 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/adb97c88-33a7-4c73-8ac3-dcd3d6f7b761

Figure 3 is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/9308a2fc-2cbb-43fa-a148-10703b853246

Operational Improvements

The Company has recently entered into an agreement with Roy Hill Holdings Pty Ltd (“ Roy Hill ”), allowing access to its flights to the Ginbata airstrip around 100 km south of the Nullagine Gold Project. This will result in significant operational cost savings and substantially reduced travel time and travel risk exposure for the Company’s employees. It also allows for more effective handover logistics between crews as they transition between rosters. The Company thanks Roy Hill for its efficient commercial engagement in this area for mutual benefit.

In addition, significant improvements have been achieved in assay receipts. Quick turnaround of assays is critical for grade control at the Nullagine Gold Project. Intertek Testing Services (Australia) Pty Ltd (“ Intertek ”) has now fully commissioned two Chrysos PhotonAssay machines at its Maddington (Perth) facility. Planning is also well advanced for the establishment of a sample preparation laboratory at the Nullagine Gold Project site in conjunction with Intertek ( refer to the Company’s news release dated May 18, 2021 ).

Novo Financial Position

Novo’s cash position and working capital remains robust, with cash reserves of C$46.3 million as at June 30, 2021. In addition to its cash reserves, the Company’s portfolio of investments held a fair value of approximately C$200 million1 as at June 30, 2021. In particular, the value of Novo’s 9.9% investment in New Found Gold Corp.1 (TSXV: NFG) (“ New Found ”) has increased significantly following the publication of continuing drill results by New Found from its wholly-owned Queensway project in Newfoundland, Canada.

Dr. Quinton Hennigh (P.Geo.) is the qualified person, as defined under National Instrument 43-101 Standards of Disclosure for Mineral Projects , responsible for, and having reviewed and approved, the technical information contained in this news release. Dr. Hennigh is a director of Novo and its president and chairman.

Cautionary Statement

The decision by the Company to produce at the Nullagine Gold Project was not based on a feasibility study of mineral reserves demonstrating economic and technical viability and, as a result, there is an increased uncertainty of achieving any particular level of recovery of minerals or the cost of such recovery, including increased risks associated with developing a commercially mineable deposit. Historically, such projects have a much higher risk of economic and technical failure. There is no guarantee that that anticipated production costs will be achieved. Failure to achieve the anticipated production costs would have a material adverse impact on the Company’s cash flow and future profitability.

About Novo

Novo is commissioning its flagship Beatons Creek gold project while exploring and developing its prospective land package covering approximately 14,000 square kilometres in the Pilbara region of Western Australia. In addition to the Company’s primary focus, Novo seeks to leverage its internal geological expertise to deliver value-accretive opportunities to its shareholders. For more information, please contact Leo Karabelas at (416) 543-3120 or e-mail leo@novoresources.com.

On Behalf of the Board of Directors,

Novo Resources Corp.

“ Quinton Hennigh ”

Quinton Hennigh

Chairman and President

2 Likes
2247

MG,
This is a great update on NOVO and very welcome news. Many have followed this company since the earliest days when the Pilbara plays in Western Australia were running and may even remember when Novo Resources was teamed up with Artemis. I invested incrementally in both for quite a while. Even though disappointed that NOVO hasn’t performed more quickly than initially expected, I added to my NOVO position recently to take advantage of the pullback. It has too much potential to ignore, as do a few other Australian miners. Some may remember RNC Minerals and the discovery of the “Father’s Day Vein” at the Beta Hunt gold mine. Well, I loaded up on that one incrementally also. Royal Nickel as it was called changed it’s name in June of last year to Karora Resources and has performed very well.

No, I haven’t sold either of these two yet, as they are both early stage IMO. In general, many stocks have not performed as well as one might expect. One of my favorites that I’ve mentioned before had a very nice announcement today; “Blackrock Silver Drills 3,542 g/t Silver Eq. over 0.9m Within 3.5m of 1,239 g/t Silver Eq. in New High-Grade Zone at Tonopah West”

It dropped as much as 5% this morning and closed down for the day (BKRRF -3.26%, BRC.V -3.61%).

“Core drilling continues to show the DPB target to be a world-class vein system with six veins now boasting a cumulative high-grade strike in excess of 4 kilometres over significant widths and mineralized shoots measuring up to 400 metres vertically.” I think Black Rock Silver promises to be a significant winner in the future and is still trading below a dollar. I’m looking forward to their drilling results.

I could mention a few others, but wanted to bring attention to a couple of mining companies that I only recently began starter positions in, albeit a little late, they are both really early. Both companies have been steady performers with positive cash flow over the past couple of years.

GoGold Resources Inc is a smaller gold/silver producer, explorer and project generator in Mexico. Currently trading around $2.50 with a P/E 11.5.

HALIFAX, NS, July 7, 2021 /PRNewswire/ - GoGold Resources Inc. (TSX: GGD) (OTCQX: GLGDF) (“GoGold”, “the Company”) is pleased to report production for the quarter ending June 30, 2021 of 575,302 silver equivalent ounces (“AgEq”), consisting of 315,632 silver ounces, 3,170 gold ounces, and 120 tonnes of copper. Parral has generated positive free cash flow for ten consecutive quarters, with estimated free cash flows exceeding US$5.5 million this quarter.

An informative 20 minute World Gold Forum presentation can be found here (World Gold Forum Presentation | GoGold Resources Inc. ).

The 2nd company is Mandalay Resources (MNDJF $2.45, MND.TO CA$3.16) with two operating mines. The Costerfeld gold-antimony project is a narrow vein system in Victoria, Australia. This mine recently added mineral reserves at an exploration cost of $23.24 per gold equivalent ounce. A short 4’45” video presentation of a newly discovered deep high grade vein system can be found here (https://mandalayresources.com/operations/costerfield-mine/ ).

The Björkdal, Sweden operation has been in production since 1983 and transitioned it’s open pit mining to a higher margin underground Aurora zone along with stockpiled ore for it’s mill feed. A short 2’21” video presentation can be found here (https://mandalayresources.com/operations/bjorkdal-mine/).

The swarms of narrow, high grade veins in Mandalay’s Swedish project reminded me of the what is being encountered on the ADL. As a side note, I originally acquired my positions incrementally in CDCH and MDMN in roughly equal dollar amounts over quite a few years. As a result, I currently have a favorable tightly-held position in AUMC and look forward to the company’s continued progress in developing a positive cash flow over the next several quarters. I haven’t sold any of these positions, mainly due to avoiding a considerable loss with no tax advantage since most shares are in either an IRA or ROTH account. I don’t think management intends to be selling at loss, either, so I will hold until the day management let’s shareholders know they will be successful. I think that story is now unfolding. :slightly_smiling_face:

1 Like
2248

Another favorable PR from Blackrock Silver:

Blackrock Silver Triples Land Position at Tonopah West

Vancouver, British Columbia–(Newsfile Corp. - July 19, 2021) - Blackrock Silver Corp. (TSXV: BRC) (the " Company ") announces that it has increased its land position to the north and west of the existing patented lands. The Company has staked an additional 260 unpatented lode mining claims covering approximately 21 square kilometres, more than tripling our land position within this prolific mining camp.

The claims cover the northwest extension of the Pittsburg-Monarch fault system, an area known to have the thickest veins in the Tonopah district and are directly associated with this structural zone. Historic underground stopes along the Victor vein were up to 24 metres where the vein intersected the fault. Blackrock has confirmed this with RCV drillhole TW20-001 cutting 965 g/t silver equivalent over 29 metres, which was later followed up with core drillhole TW20-061C, which cut 18.5 metres grading 295 g/t AgEq, including 1.52 metres of 1,791 g/t AgEq (Ag/Au = 100:1) (see news releases dated July 20, 2020, and January 14, 2021).

A similar scenario at the Ohio vein occurred where stopes were up to 14 metres thick where the Ohio vein intersected the Pittsburg-Monarch fault system.

In addition to securing the extension of one of the major structures within the district, the claims cover a pediment area on the north side of the district where an east-west structural zone has been identified and mapped with similar geology to the Tonopah West project.

Andrew Pollard, President & CEO, commented, “With a year and nearly 80,000 metres of drilling now under our belts, our understanding of this legendary mining camp continues to sharpen, significantly expanding the potential for this project and our shareholders. With ten high-grade veins now established representing a cumulative strike in excess of six kilometres, and as we march toward delivery of our maiden resource estimate, due in November, we continue to look for possibilities for further discoveries. By more than tripling our current land position along such a key structural zone within this storied district, it represents a coup for us and we’re excited to get to work refining drill targets.”

Initial work will consist of detailed ground mapping, gravity and magnetic geophysical surveys to refine the drill targets.

Cannot view this image? Visit: https://orders.newsfilecorp.com/files/676/90534_14b6410fc4635938_002.jpg

Figure 1: Tonopah West Project New Claims and Target Location Map.

To view an enhanced version of Figure 1, please visit:
https://orders.newsfilecorp.com/files/676/90534_14b6410fc4635938_002full.jpg

Blackrock’s exploration activities at the Tonopah West Project are being conducted and supervised by Mr. William Howald, Executive Chairman of Blackrock Silver Corp. Mr. William Howald, AIPG Certified Professional Geologist #11041, is a Qualified Person as defined under National Instrument 43-101. He has reviewed and approved the contents of this news release.

In addition, the Company announces that it has awarded under its Restricted Share Unit Plan of an aggregate of 335,000 restricted share units (“RSUs”) to its directors and officers. Each RSU entitles the recipient to receive one common share of the Company, or a cash payment equal to the equivalent for one common share of the Company on vesting as to one-third on each of the first, second and third anniversaries of the date of grant.

RSU awards are subject to all necessary regulatory and shareholder approvals.

About Blackrock Silver Corp.

Blackrock is a junior gold-focused exploration company that is on a quest to make an economic discovery. Anchored by a seasoned Board, the Company is focused on its Nevada portfolio of properties consisting of low-sulphidation epithermal gold & silver projects located along the established Northern Nevada Rift in north-central Nevada and the Walker Lane trend in western Nevada.

For further information, please contact:

Andrew Pollard, President & CEO
Blackrock Silver Corp.
Phone: 604 817-6044
Email: andrew@blackrocksilver.com

1 Like
2249

My broker has restricted buying of ARTTF , Artemis Resources Ltd. , so I can only sell (since it’s one of the “Foreign” designated stocks.

The current Australian price is $0.094 which equates to US$.0792, yet the bid/ask is US$0.0663 / 0.07 which is ridiculous, the offer is 13% below the current US$ price !

Has anyone else found this broker restriction on the ‘foreign’ stocks traded on the OTC ? They are designated with an ‘F’ at the end of the stock symbol.

Thanks for your input.

Rod

2250

The price has been rising because the Paterson drilling will start soon.

image
image883×584 75.2 KB

The property surrounds the Haverion project on the north, east and south.

Haverion Drill Results (only some of Many magnificent drill results :

HAD012 returned:
43.0m @ 7.9 g/t Au and 0.83% Cu from 900m
HAD013 returned:
36.0m @ 4.1 g/t Au and 0.84% Cu from 481m
HAD014 returned:
244.6m @ 2.0 g/t Au and 0.40% Cu from 450m, which includes:
29.3m @ 4.0 g/t Au and 0.86% Cu from 465m and
22.4m @ 4.3 g/t Au and 0.82% Cu from 557m
75.3m @ 3.4 g/t Au and 0.43% Cu from 816.6m, which includes:
13.2m @ 16 g/t Au and 0.93% Cu from 859m

2251

Last trade today US$0.0667, 19% below current price in US$ !!!

2252

Fidelity allows trades for ARTTF, but it charges $50 per trade on some of these foreign stocks, but not all, which is truly ridiculous. On the other hand, it’s only $19 to trade ARV:AU.
I don’t know what your brokerage is, but consider the following from the OTC site for ARTTF:

OTCQB Member Since 11/2018

Verified Profile 04/2021

Penny Stock Exempt

Is this a recent change? I would ask your brokerage for a clarification.
EZ

2253

Thanks, Richard.

1 Like
2254

Richard, ARV posted the last reports via the ASX, 28/07/2021

8:15 pm

Quarterly Activities Report

3057KB

28/07/2021

8:11 pm

Quarterly Cash Flow Report

214KB

2256

I’ve posted on BKRRF - BRC.V previously.
Webinar tomorrow Oct 13 if interested:

October 12, 2021, ‑ Vancouver, British Columbia .Blackrock Silver Corp. (the “ Company ”) is pleased to announce additional high-grade silver and gold intercepts from its core and reverse circulation (RC) drilling program on the 100% controlled Tonopah West project, located in the Walker Lane trend of Western Nevada. These new results continue to demonstrate continuity of high-grade mineralization over an 800 metre by 800 metre area that will form the basis of the upcoming maiden resource on the DPB target. In conjunction with drilling done to date, these results validate the Company’s understanding of the structural orientation and confirm continuity of mineralization of the vein swarm at DPB. Tonopah West is primely situated directly adjacent to the town of Tonopah, with Interstate 95 traversing the property, and the DPB target area is entirely on patented ground.

HIGHLIGHTS:

  • 4.1 metres grading 2,027 g/t silver equivalent (AgEq) (9.07 grams per tonne (g/t) gold (Au) and 1120 g/t silver (Ag) including a 0.9 metre zone grading 5,080 g/t AgEq (20.85 g/t Au and 2,994 g/t Ag) from the high-grade Bermuda vein were returned in Core hole TXC21-026 (AgEq silver: gold ratio 100:1);
  • Core hole TXC21-010 cut multiple high grades zones on the Mule, Paymaster and Merten veins, with the Mule vein returning 1,006 g/t AgEq over 0.7 metres (5.61 g/t Au and 445 g/t Ag);
  • intersected multiple zones in the Merten vein including 1.5 metres grading 6.5 g/t Au and 592 g/t Ag or 1,242 g/t AgEq , including 0.7 metres returning 12.1 g/t Au and 1,095 g/t Ag, or 2,305 g/t AgEq ;
  • The Company is working towards delivery of a maiden resource estimate during Q1, 2022.
  • The resource definition program is winding down and nearing completion with one core rig having already been decommissioned.Two core rigs and one RC drill rig remain in operation at site; and
  • Fifteen infill core holes have assays pending from the DPB target area and nine RC drillholes are pending from the step-out program. Two core holes are currently in process and eight remain to be completed to finish the resource drill campaign at DPB

…
“Since commencing drilling in June of last year, we have completed nearly 100,000 metres of drilling across the entire project and look forward to delivery of a maiden resource estimate in Q1, 2022, that will cover the DPB vein swarm over an 800 by 800 metre area.”

2257
3 Likes
2258

New Investor presentation as well for Karora. This Company really has their act together.

https://filecache.investorroom.com/mr5ircnw_karora/1770/KRR%20Corporate%20Presentation%2014-Oct-2021.pdf

2 Likes
2259

Take a look at ARTTF (ARV on ASX), currently under it’s US$ equivalent of AUS$0.097, which is $0.07136. Last trade at US$0.065

Paterson Central Project - **Artemis’ properties surround the Havieron project (3.4Moz of gold and 160,000t of copper) on the north, east & south. **

Artemis is currently starting to drill 2 targets with 3 more to follow this fall. 2 more at a later date

Artemis Resources Additional Assets :

Carlow Castle - gold, copper and cobalt project - 418,000oz Au, 48,000t Cu and 7,000t Co

Radio Hill - 100% owned Processing Plant - 20,646t Ni 35,484t Cu

Munni Munni - 70% owned PGE Project - 1,970,000oz PGE + Au (1,140,000 ounces palladium; 830,000 ounces platinum; 152,000 ounces gold; and 76,000 ounces rhodium)

2260

Again today ARTTF (ARV on ASX) AUS$0.105, currently under it’s US$ equivalent of AUS$0.105, which is US$0.07776. Last trade at US$0.0713, over an 8% discount. Aribtrage anyone ?

2261

Anyone have a pulse on nsrpf? They’re getting beat up a lot.

2262

Continuing the discussion from Other Mining Stocks:

NSRPF is getting crushed because the quarterly production at their Nullagine facility implied that the last couple of months didn’t produce as much gold as it did in July…even though quarter over quarter they increased their output from 14,890 oz to 18,144 oz. The company only started pouring gold in March, so they have been experiencing “growing pains” as they try to optimize production. The deposits surrounding Beatons Creek are nuggety and have been proving a challenge to keep the grades up. The company instituted in-fill drilling at Beaton’s to optimize grade control of the ore they are feeding the mill.

There is supposed to be an exploration update this week, and hopefully that will have some news that will correct the downward trend in the share price.

4 Likes
2263

I increased my position at $1.30. I think of it more of an issue of the shareholder base having super high expectations for things to happen quickly with reality being quite different. There is nothing wrong with the fundamentals of their deposits; consistent with what has been previously described. I think most of the risk is gone with the cash flow from the gold production but they still need to actually come out ahead before it is all gone. If it falls below $1.30 again, will decide either to do a stop loss or double down.

3 Likes
2264

what’s going on with my TDA account and GNGXF today?

2265

Anyone following Skeena Resources after it’s 4:1 Reverse Split consolidation in June?
May be worth keeping an eye on.

Skeena to Commence Trading on the NYSE

October 27, 2021

View PDF

NR:21-38

Vancouver, BC (October 27, 2021) Skeena Resources Limited (TSX: SKE , OTCQX: SKREF ) (“Skeena” or the “Company”) is pleased to announce that the Company has received listing authorization from the New York Stock Exchange (“NYSE”) and has filed a Form 40-F (“40-F”) with the U.S. Securities and Exchange Commission (“SEC”). The Company expects to begin trading on the NYSE on November 1, 2021 under ticker symbol “SKE”. The Company’s common shares will continue trading on the TSX under ticker symbol “SKE”.

Concurrent with the start of trading on the NYSE, Skeena’s common shares will cease trading on the OTC Markets. Shareholders are not required to take any action.

About Skeena
Skeena Resources Limited is a Canadian mining exploration and development company focused on revitalizing the past-producing Eskay Creek gold-silver mine located in Tahltan Territory in the Golden Triangle of northwest British Columbia, Canada. The Company released a Prefeasibility Study for Eskay Creek in July 2021 which highlights an open-pit average grade of 4.57 g/t AuEq, an after-tax NPV5% of C$1.4B, 56% IRR, and a 1.4-year payback at US$1,550/oz Au. Skeena is currently completing both infill and exploration drilling to advance Eskay Creek to full Feasibility by Q1 2022.

On behalf of the Board of Directors of Skeena Resources Limited,

Skeena Resources daily
Skeena Resources daily1068×669 152 KB

Skeena Resources weekly
Skeena Resources weekly1040×670 162 KB

Mentioned last year ( I have a long position) :

1 Like
2266

ARTEMIS RESOURCES ASX:ARV FRA:ATY US:ARTTF
www.artemisresources.com.au Page 1 of 3
28 October 2021
ASX Announcement

Paterson Central Project Update – Drilling at Atlas

Highlights

  • Diamond drill rig is on the Atlas target at the Company’s 100% owned Paterson
    Central Project that surrounds the world-class Havieron Gold-Copper discovery
    under development by Newcrest and Greatland Gold.

  • Following completion of the first hole at Atlas (target depth ~800m), the Company
    intends to test the Apollo target trend just to the south with multiple holes to similar
    depths. Both Atlas and Apollo sit just to the north of Havieron.

  • A second diamond drill rig has been contracted to accelerate drilling activities
    through November and December.

Paterson Central
Paterson Central838×717 168 KB

(https://artemisresources.com.au/)

(Disclosure: I have long positions in Artemis Resources and De Grey Mining.)
Will Havieron be the catalyst for a turnaround to former investor interest and glory days in this Pilbara play?