Inventus Mining - continuing to move nicely. I know several of us have positions here and have been following it several years (see earlier posts). No recent news, but was last reported to be working on permits. Last news was in May:
INVENTUS MINING PROVIDES PROGRESS REPORT ON PARDO TORONTO, ONTARIO
(May 7, 2018) - Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”) provides a progress report on its 100% owned Pardo Paleoplacer Gold Project (“Pardo”) near Sudbury, Ontario.
“We received very positive results from the 1,000 tonne bulk sample completed in 2017, even at this small scale the project costs were substantially offset by gold sales. While we still see significant exploration upside at Pardo, we are focused on the economic evaluation of the large mineralized footprint outlined by previous drilling. We believe the economics of our unique near surface flat lying paleoplacer mineralization are potentially very compelling, and that is what we are striving to demonstrate. At present, we are working towards the approval of our initial mining permit, which we anticipate this summer,” said Stefan Spears, Chairman and CEO. https://static1.squarespace.com/static/56d987d21bbee076a4c0be7f/t/5af08dc5f950b7b3cf45f462/1525714373301/May+7+Progress+Report.pdf
Here’s a shortened description of the property:
Property Ownership
The Pardo property consists of 167 square km’s of mineral claims covering the target paleoplacer geology. Inventus owns a 100% interest in the property (outlined black on Figure 2) after acquiring the remaining interest in the Pardo JV on November 30, 2016. Part of the property is subject to a 3% net smelter return royalty, of which 1.5% can be purchased by Inventus at any time for C$1.5 million.
Geology
The Pardo Project is a conglomerate-hosted gold deposit within rocks of the Huronian Supergroup, a 2.4 billion year old sedimentary basin. Ancient Precambrian Sedimentary basins such as the Huronian are known to contain large paleoplacer gold deposits. One such setting is the famous Witwatersrand basin in South Africa, which is considered the largest gold provenance in the world having produced approximately 40% of the worlds gold supply (Figure 3).
Inventus’ team has identified gold bearing conglomerate reefs within two separate formations. The conglomerate reefs are extensive, flat lying layers ranging from 1 to 4 metres thick. In some areas these reefs are stacked and separated by interbedded sandstone. The basal formation, the Matinenda, is composed of pyritic quartz pebble conglomerate and underlies the Mississagi Formation, a polymictic cobble to boulder conglomerate (Figure 4). The two formations contain anomalous gold values over the entire property that spans 13 km north to south and 3 to 5 km east to west. http://www.inventusmining.com/home-1/
July 30, 2018
Summer Update
It has been a while since we provided an update here on the blog. We have been very busy working on Pardo and Sudbury 2.0, and we have a few near-term milestones:
New 43-101 Technical Report on Pardo is in the final stages of being competed. We look forward to getting this filed, potentially later this week.
The final closure plan for our 50kt bulk sample was officially submitted July 24th. There is approximately 45 day period for review.
Sudbury 2.0 prospecting, mapping, and sampling has been going well, and we have identified targets for geophysics zero in one potential drill targets.
Inventus has risen 75% over the past few weeks. Of course it does this while I’m waiting for newly deposited finds in my account to clear. Even though I have a long term outlook with Inventus, i just can’t stand paying that kind of premium in the short term.
Thanks HR,
I hadn’t checked the blog recently. Updates on the near term milestones very welcome and explains some of the recent buying interest. Let’s see if it continues … after your funds clear, of course!
So far gold has held the 62% retracement level and is moving up to test the 20ema resistance, one it has not been able to overcome since it lost support in mid-April. The price range gold is in now has been a decent support price for most of this year, so there’s a pretty good chance this support will hold, but if it doesn’t gold is likely to see 1200 or lower again.
Recently, HR and CHG posted articles titled Pilbara Conglomerate Plays and Conglomerate Gold in the Pilbara: A Brief History & Next Steps with significant information. Just how speculative or overheated is this sector?
There was a great deal of information presented in the earlier articles posted. I wanted to see just how much PPS movement had occurred in the major plays that were mentioned using the past year, 3 month interval and past month. Hope this additional information helps anyone looking where to invest in a Pilbara play. Draw your own conclusions from the above estimates made from limited chart information.
McEwen Mining’s (MUX) CEO Rob McEwen on Q2 2018 Results - Earnings Call Transcript (link below)
Anyone wonder why there is a following of McEwen invested properties on this forum? Where else does McEwen make his money to invest in his own company, MUX?
As you know, we have 337 million shares outstanding. I own 79 million shares, representing 24% of the company. And what you may not know is. One, the cost to my investment is a big number, its $133 million. Two, my personal financial commitment ranks as one of the largest personal investments of any CEO in the precious metal industry and among the top 1% to 2% of all the public company traded in the world. Three, I’m a big believer in the bright golden future of our company. Therefore, I am increasing my investment in the company by $25 million, providing half of the $50 million debt financing, that Andrew spoke of earlier. https://seekingalpha.com/article/4193365-mcewen-minings-mux-ceo-rob-mcewen-q2-2018-results-earnings-call-transcript
Great… transparency! This guy knows how a business should be ran and keep shareholders posted on the companies business plan, unlike someone else we know. Good luck to all those invested in Mux hope you make a lot of money.
My, That was big chunk of change!
Looks to me like someone sold a while back for a tax loss and now bought back. It is a long term play, IMO. Or maybe someone sold at a nice profit a while back and decided to get back in near a bottom. In either case, it was a major purchase.
I saw that this morning when I was putting some buys in for Pilbara plays. There was also a 1 million share trade on DGMLF (De Grey Mining) - DEG in Australia. Novo (V.NOV and NSRPF) was up around 10% midday. I was looking to buy in the 3.05 range and before I knew it, it shot up to almost 3.40. I didn’t take any position in Novo, but I’m looking to. I got a starter position in Artemis at .124 and .1255.
I also picked up some more MUX at 2.22 since it pulled back. I may be jumping the gun a little, but this is a long term position and it’s pulled back more than 10% off of recent highs. I’ll add to this position over the next couple of months based on the chart.
I’m looking at Pacton and Kairos too. Sprott invested $5 million in Kairos last year.
Funny thing about these Pilbara explorers, they all have reported finding watermelon seed gold nuggets on the properties. It’s like they’re all sitting on the same kind of widespread deposit. I think that if Novo reports anything significant, it will lift all of these stocks as sympathy plays. I’m trying to focus on the ones with the most upside and particularly, the ones Sprott is investing in. I’ve still got a lot of research to do though.
The thing that I’m bummed about is that I’ve been invested in Inventus since 2013 or so and was completely focused on the paleo-placer deposit theory in the Lake Huron basin. However, many fellow investors, analysts and geologists had mentioned the similar deposit in Australia with Novo Resources. I followed Novo, even took a small position awhile ago, but then sold out of it for some unknown reason…probably because it wasn’t really moving at all. Then a few months later it 10-bagged on me…or rather, without me. Many of the other Pilbara plays took off in sympathy too. But only recently have I freed up a good chunk of cash to start investing a bit more in Pilbara.
I’ve read several articles from the Hedgeless Horseman over the past 6 months or so that have been very impressive from an analytical standpoint. He takes into account the geological aspects, the technical trading aspects, and the global/mineral trends as well. Interesting stuff.
For those that haven’t seen it. This is the YouTube live stream that Novo did last fall demonstrating finding those watermelon seed shaped gold nuggets at surface with a metal detector. This was sort of a crazy promotional event that you never see in the mining space. But even after taking that comment into consideration, the demonstration is pretty crazy.
And in fact that is how the whole Pilbara thing got started last year. There is some kind of local Australian law that allows for metal detecting hobbyists to go out on private land and do their thing as long as they do not dig or disturb the ground beyond some very small amount. This is way out in remote northwest Australia. And these local metal detecting guys started coming back with nuggets and apparently some gathered hundreds of ounces before anyone of import took serious notice. In stepped Novo who staked tons of land before letting on what was happening, gave a demonstration like this video, and the 10-bagger was on its way.
I also bought Artemis yesterday at .124 and bought some MUX today to trade. Was looking at NOV, should have bought some yesterday oh well, be patient… Anyone get Jay Talyor’s stuff ? Supposedly he was hinting there’s some action going on behind closed doors with the various Pilbara players. Great info guys thanks!
