I wanted to get an opinion on another penny play (non mining) if someone could PM me I just want to get someone else’s perspective.
FYI, here’s an interesting in-depth analysis of MUX from Sven Carlin:
Also note, the recent round of financing averaged about $2.09 PPS (20,700,000 common shares earned $43.2 million before deductions).
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I’m still out of commission. Maybe this weekend if I get a chance.
Interesting take if you have the time.
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http://ca.reuters.com/article/businessNews/idCAKBN1D900E-OCABS
Cameco has put the world’s largest uranium mine on care and maintenance due to continued poor price for Uranium. This is another step in the right direction to solving the supply/demand issues facing the industry. The spot price has gone up 11% since yesterday, the URA ETF which is the only major fund tracking the industry is up the same amount, and all of my uranium stocks are up 10-20% in the past day or so. Interesting how a single event can move a whole industry. I’ll be waiting for the excitement to die down before adding to my positions.
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Verde Agritech puts out a very robust Pre-Feasibility Study.
$50 M market Cap (was 14M a week ago) , Almost 2 Billion NPV on a quarter of their deposit, and a ridiculous IRR of 290%
https://ca.finance.yahoo.com/news/us-1-98-billion-npv-120000270.html
BGM INTERSECTS 14.69 G/T AU OVER 28.50 METRES AT SHAFT ZONE
Barkerville Gold Mines Ltd. has released additional drilling results from the
continuing 160,000-metre 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 Valley and Shaft
Zones with nine drill rigs. Detailed drilling results, a drill hole
location plan map and vertical sections are presented at the end of this
release. The exact geometry and hence true width of the mineralized
zones cannot be assuredly concluded at this time therefore core lengths
are reported.
Significant Gold Zones Intersected at Shaft Zone
The Company is very pleased to report that a potentially new
mineralized corridor has been discovered at depth on Island Mountain.
Phase II drillhole IM-17-191 intersected three separate vein systems
grading 19.16 g/t Au over 9.70 metres,
13.48 g/t Au over 16.60 metres ,
and 14.69 g/t Au over 28.50 metres at vertical depths ranging from 485
to 540 metres below surface.
Due to the scarcity of drilling in this area, it is unclear whether the new mineralization correlates as a depth
extension to the interpreted Gamma Corridor or represents a previously
unidentified new corridor. A Gamma Corridor section with widened viewing
envelope is presented at the end of this release for reference.
McEwen Mining Announces Timmins Exploration Program and Funding
By GlobeNewswire, December 01, 2017, 09:26:00 AM EDT
TORONTO, Dec. 01, 2017 (GLOBE NEWSWIRE) – McEwen Mining Inc.(NYSE:MUX) (TSX:MUX) (“McEwen”) is pleased to announce a strategic financing to accelerate exploration at our newly acquired properties near Timmins, Ontario.
“This significant commitment to exploration in 2018 is founded on our conviction that excellent exploration potential exist on our properties in the Timmins region,” said Rob McEwen, Chairman and Chief Owner.
The financing consists of a US$10,000,000(Cdn$12,880,000) bought deal private placement offering (the “Offering”) of 4,000,000 flow-through common shares (within the meaning of subsection 66(15) of the Income Tax Act (Canada)) priced at US$2.50(Cdn$3.22) per flow-through common share (the “Offering Price”) led by Cantor Fitzgerald Canada Corporation as sole bookrunner and including BMO Capital Markets, H.C. Wainwright & Co., LLC and GMP Securities L.P. (the “Underwriters”). The Offering Price represents a premium of 24.4% over the closing price of McEwen common shares on the NYSE as of November 30, 2017. The Offering is expected to close on or before December 19, 2017 (the “Closing”) and is subject to customary closing conditions, including approval from the TSX and NYSE.
McEwen intends to use the proceeds of this Offering exclusively for generative exploration activities on its properties in the Timmins region.
Planned Exploration Program Highlights
Since completing the purchase of the Black Fox Complex in early October, we are increasing our understanding of the great opportunities to grow existing resources and to make new and exciting mineral discoveries in the Timmins region. We see an opportunity to accelerate our exploration efforts by committing US$10 million in 2018 to conceptual and early stage targets, predominantly on the Black For property.
At the Black Fox mine deep exploration drilling below the bottom of the know mineralization is a high priority. Many mines in the region typically extend to depths of 1,200-1,600 meters below surface, while Black Fox currently hosts resources to a depth of only 880 meters. A program of deep directional exploration drilling from surface is currently underway. Lateral exploration to the northwest and southeast of the mine along the same geologic structure is also proposed, based on good geological and geophysical evidence to support the targets.
Tamarack is a zone rich in gold and zinc-lead-silver massive sulfide mineralization proximal to the Black Fox mine.
Other important target areas on the Black Fox property include the areas around the Froome and Grey Fox deposits, which are located 800 m to the West and 4 km to the South of the Black Fox mine, respectively. Froome currently has an underground indicated gold resource of 151,000 ounces at a grade of 5.5 gpt. Grey Fox currently has an open pit indicated gold resource of 345,000 ounces at a grade of 3.6 gpt, and an additional underground indicated gold resource of 323,000 ounces at a grade of 5.9 gpt.
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 333 million shares outstanding. Rob McEwen, Chairman and Chief Owner, owns 24% of McEwen.
QUALIFIED PERSON
Technical information pertaining to geology and exploration contained in this news release has been prepared under the supervision of Dean Crick and Sylvain Guerard. Mr. Crick and Mr. Guerard are a “qualified person” within the meaning of NI 43-101.
Investing ideas?
Rick Rule Picks Gold Winners For 2018 - Rick Rule (PART 2/2)
Nov 22, 2017
How should investors prepare for 2018? Don’t miss this no-holds-barred interview with Rick Rule live from the Silver & Gold Summit in San Francisco.
http://www.kitco.com/news/video/show/Silver--Gold-Summit-2017/1766/2017-11-22/Rick-Rule-Picks-Gold-Winners-For-2018---Rick-Rule-PART-22
The Coinbase site has been down for a few hours now, a crash is coming, when the site will work again, there will be a panic selling.
Service Unavailable
Coinbase is currently down for maintenance. Please try again later or see our status page for more information.
I guess, it didn’t crash lol, will crash eventually.
As much as I dont really understand the whole cryptocurrency thing. I’m kind of regretting not taking a larger speculative position in bitcoin.
The VAST majority of people wouldn’t have stayed in this long if they got in early and those that are in are likely driving themselves mad with the volatility. I’d rather bet on a real game of musical chairs than to invest in the cyber one called Bitcoin.
In my opinion you’re safer becoming a professional poker player than to invest in something which in reality is nothing more than a video game.
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I have no idea how this could be used as a currency because of the volatility. They are going to start trading futures on this chart fairly soon. I wouldn’t touch it. I bet a lot of inexperienced people with dollar signs in their eyes are going to lose a lot of money trying.
And, by the way, this chart has gone parabolic. Typically it doesn’t take long at this point for a pretty dramatic drop to occur. I guess in time we’ll find out if this is different. I’m guessing not.
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You are right about that, I had some bitcoins ,at the time it was around $100, I didn’t keep them, like probably most who had some.
Coinbase has routinely gone down over the past year and crypto hasn’t crashed. Their problem is keeping up with the flood of new accounts and money. To suggest a crash is imminent because their website is down is ludicrous. And quite frankly, Coinbase sucks anyway. It’s only endearing quality is its ease-of-use for new investors. Give me Gemini or CB’s sister site GDAX all day long.
It did crash a bit.
In the crypto world, that was definitely not a crash. And the overall crypto market cap is still only $25B off its all time high of about $452B.
Aurelian Resources was mentioned on the main thread because of Dr. Sillitoe’s early assessment of the property.
[2006−2007: Assistance with geologic modeling of Fruta del Norte bonanza-grade intermediate sulfidation epithermal Au-Ag deposit, Ecuador (at feasibility stage).]
Also mentioned (see main thread for details):
Kinross to acquire Aurelian Resources in $1.2B friendly deal
Aurelian’s main property is the Fruta del Norte discovery in south-eastern Ecuador. The company said in October 2007 that the property held an estimated 13.7 million ounces of contained gold and 22.4 million ounces of contained silver.
Funny how valuations can change as we’ve all seen with Medinah and Cerro and undervalued properties may be acquired. It is not unique in the mining industry. Delays are very common prior to development and profitability.
In December, 2014 the Company (Lundin Gold) acquired mining concessions in Southeast Ecuador including the Fruta del Norte gold project for US $240 million.
Here is the latest news release - FYI
Lundin Gold Draws US $40 Million Under Gold Prepay Facility as it Continues to Advance Fruta Del Norte
VANCOUVER, BRITISH COLUMBIA–(Marketwired - Dec. 6, 2017) -
Lundin Gold Inc. (“Lundin Gold” or the “Company”) (TSX:LUG)(OMX:LUG) is pleased to announce that is has drawn an additional US$40 million under the gold prepay credit facility with the Orion Mine Finance Group and Blackstone Tactical Opportunities. The funds will be used to support the ongoing development of the Fruta del Norte gold project in Ecuador.
About Lundin Gold
Lundin Gold, headquartered in Vancouver, Canada, is developing its wholly-owned Fruta del Norte gold project in southeast Ecuador. Fruta del Norte is one of the highest-grade and largest gold projects currently under construction. The Company’s board and management team have extensive expertise in mine construction and operations, and are dedicated to advancing this project through to first gold production in 2019.
The Company operates with transparency and in accordance with international best practices. Lundin Gold is committed to delivering value to its shareholders, while simultaneously providing economic and social benefits to impacted communities, fostering a healthy and safe workplace and minimizing the environmental impact. The Company believes that the value created through the development of Fruta del Norte will benefit its shareholders, the Government and the people of Ecuador.
mwnewsroom.com
For some here, this may be one worth keeping on the watch list.
Inventus Mining is being touted after original release in Sept … after Promo ad saw IVS:CA range from CD$ .245-.305 in early trading briefly. Currently up 6%.
TORONTO, Sept. 06, 2017 (GLOBE NEWSWIRE) – Inventus Mining Corp. (TSX-V:IVS) (“Inventus” or the “Company”) is pleased to announce that it has closed an over-subscribed non-brokered private placement financing for aggregate gross proceeds of $1,000,000 (the “Offering”), further to its announcement on August 16, 2017. The Offering consisted of the sale of 6,666,666 units (each, a “Unit”) at a price of $0.15 per Unit.
Inventus intends to use the net proceeds from the Offering for bulk sampling and exploration at its 100% owned Pardo Paleoplacer Gold Project near Sudbury, Ontario, and for general administration and corporate purposes.
Each Unit consists of one common share (“Common Share”) and one common share purchase warrant (“Warrant”). Each Warrant will entitle the holder to acquire one Common Share at a price of $0.25 for a period of two (2) years after the closing date of the Offering. All securities issued and issuable pursuant to the Offering will be subject to a four month and one day statutory hold period.
It is also worth keeping an eye on, IMO
Share Capital (fully diluted) 118,715,235