The Mining Play

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Anyone watching development at Fruta del Norte?
Still early, but very good progress being made. Excerpt from a detailed News release from last month:

Lundin Gold is preparing the first stages of transition to owner operations and its mining fleet has started to arrive at Fruta del Norte. The first group of mining operator trainees began the final part of their training program, which takes place on site.

A highlight…3 to 4 million tons of ore at 150 oz per ton! :slight_smile:

This one is going to get a lot more exciting…


I’m getting more and more jazzed about RNX the more I start hearing and reading what is going on and the potential. You know they’re just drilling to price up the resource for sale at a premium much greater than the current price is.

You know Sprott and Kirkland Lake will outbid any offers once the resource is further proven up.

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This is from the end of Oct , at IMARC. Since then they’re up to 3 drills at least, with a possible 4th working.(can’t remember offhand) Should be lots of core results showing up as they’re drilling it underground

They have come up with a very plausible geologic model. If they are right, wow!

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Yeah, I never sold out of it…LOL. I bought around .51 when it quieted down after the run above $1.00. Then when it started picking up momentum I averaged up at .65. I will probably sell on news this go round, and then re-accumulate on pullbacks. This is the type of stock you can really do that with confidence because you know it’s backed by big money and they really do have the goods.

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MUX had a nice gain yesterday.
Closed 1.95
Chart is starting to look interesting.
MA(50) 1.79
MA(200) 2.01

Mistakenly posted this on the “non-mining” thread a few days ago. Still looking good.

With the recent news update out on Gold Bar Mine, how long before “golden cross” occurs?

McEwen Mining Provides Update on Gold Bar Mine Start-Up

TORONTO, Feb. 05, 2019 (GLOBE NEWSWIRE) – McEwen Mining Inc. (MUX.TO) is pleased to report that construction of the Gold Bar Mine in Nevada’s prolific Battle Mountain-Cortez Trend is nearing completion, just 14 months after breaking ground in November 2017. The Mine is on schedule for inaugural gold production in late February 2019. Commercial production will follow when the Mine’s systems reach a steady state, which is expected by the end of Q1. The project is tracking on our original capital cost estimate of $81.4 million.

150,000 tons of ore have been placed on the heap leach pad since starting in December 2018. A few weeks ago leaching was initiated and gold is being dissolved by the cyanide solution at the desired rate. We estimate that the Gold Bar Mine will produce 55,000 ounces (oz) gold in 2019 at an all-in cost of approximately US$975 per ounce.

December and January were challenging months on site with heavy snow and cold temperatures delaying some work. Remaining activities to complete the process plant include electrical work, instrumentation installation, and commissioning of the gold refinery circuit. We would like to thank all our employees and subcontractors for their dedication to the job at hand whatever the conditions.

2018 exploration drilling has extended the estimated mine life to 7.4 years. The future addition of the Gold Bar South resource to the mine plan should further extend the mine life by a minimum of one year. Our 2019 exploration budget on the Gold Bar property is $4.4 million. Exploration drilling will target both near surface and deep Carlin-type mineralization.


I do agree there will be a bitter fight about to commence!! Northern Dynasty just got there DEIS, Shares up over 16% on high volume. Do i think this mine will ever be developed? If not now then never…

McEwen Mining Reports 2018 Full Year and Q4 Results

February 21, 2019

TORONTO, Feb. 21, 2019 (GLOBE NEWSWIRE) – McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) today reported fourth quarter and full year results for the period ended December 31, 2018. For the year, McEwen Mining achieved record production of 175,640 gold equivalent ounces(1) (“ GEOs ”), at cash costs of $817 (2) per GEO and all-in sustaining costs (“AISC”) of $1,002 per GEO. Our 2019 production guidance is 210,000 GEOs, a 20% increase over 2018 production, at average cash costs and AISC per GEO of $877 and $1,034 , respectively. During 2018, we invested heavily in areas that we believe will enhance our future growth and profitability. We invested $35 million in exploration, $66 million in construction at the Gold Bar Mine in Nevada, and $10 million to advance our Fenix and Los Azules projects. As a result we are reporting a consolidated net loss for 2018 of $45 million , or $0.13 per share.

At December 31, 2018 we had cash and liquid assets of $38 million, including cash and restricted cash of $31 million. In August 2018 we raised $50 million in debt to fund construction of the Gold Bar Mine. We decided to debt finance a portion of the required capital rather than issuing equity because we strongly believed that higher gold and silver prices were close at hand, and that our share price should improve as a result.

A little slow around here so here’s something McEwen mentioned in Q4 earnings call last week…
Definitely eligible for winning the Darwin Award:

At the Black Fox Mine, we bring the ore to surface and we have hired a contractor to crush the ore on the mine site and then truck it to our mill. Several weeks ago, it was quite cold in Timmins, maybe minus 40 degrees, and the conveyors used in the crusher weren’t holding the ore very well because they were so cold and these three individuals decided to get a very large blowtorch and focus it on the conveyor way.

Well that was all well and good, until all three of them decided to go to lunch at the same time, and leave this blowtorch on the conveyor. Unfortunately, it caught fire and ignited a large part of the crusher and melted part of its frame and we’ve been without a crusher for about two and a half weeks.

This stupidity, I cannot begin to describe and that’s why I say these are things that are unanticipated. Fortunately, it wasn’t our staff, it was the contractors, but I do believe they’re Darwin Award candidate.

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To Whom It May Concern,
If you are bored you could always read the 1400 page ACOE report on the Pebble mine project,finally some real science has been done.

Monster drilling results from RNX this morning…


Barrick proposes merger with Newmont via hostile bid conditional on nixing the merger with Goldcorp. Quite a bustle among the majors:

RNX trading down 10% due to production numbers being lower than expected at Beta Hunt. That is because they halted production in favor of drilling to expand and further define the existing and new high grade gold zones. Definitely a confident buying opportunity here for people with a time horizon beyond a quick flip. I’ve got a buy order in at .65C for RNX

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Little surprised but I see the main Royal Nickel discussion thread seems to have more than its normal share of discussion thread trolls working overtime to spread confusion/dampen enthusiasm.

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Some more analysis of the latest results:

Inventus came out with an update this morning:


TORONTO, ONTARIO (Mar 5, 2019) - Inventus Mining Corp. (TSX VENTURE: IVS) (“Inventus” or the “Company”)is pleased to provide an update about exploration activities on its 100% owned Sudbury 2.0 property (the “Property”) located northeast of Sudbury, Ontario.

During the 2018 field season, Inventus discovered and mapped a contiguous belt of Sudbury breccia over a distance of 14 km with potential to extend it over 30 km. The breccia belt is located above the Temagami Magnetic Anomaly and further validates the Sudbury 2.0 exploration concept. Inventus plans to explore the breccia belt in greater detail and compare it to Sudbury’s South Range Breccia Belt that hosts the Frood-Stobie deposit.

Additionally, Inventus has also found two exotic mafic dykes on the Property. The mafic dykes have different lithological and geochemical characteristics to any known intrusive rocks in the regional area. The two mafic dykes are being studied in detail to determine their geological relationship to both the Temagami Magnetic Anomaly and Sudbury Igneous Complex (SIC).

With the identification of unexplored Sudbury-type geology found on surface, a stronger geological connection has now been made between the Temagami Magnetic Anomaly and the Sudbury Basin. These new findings suggest there is good exploration potential for magmatic Ni-Cu-Pt-Pd mineralization and associated hydrothermal Au-Cu-Co-Ni mineralization over a large area of the Property.

Sudbury Breccia Belt

Geological mapping during the 2018 field season lead to the discovery of a previously unrecognized 14 km belt of Sudbury breccia. The breccia belt, named the Laundry Lake Breccia Belt (LLBB), occurs above the western peak of the Temagami Magnetic Anomaly and along a regional gravity discontinuity, suggesting the breccia belt was emplaced along a major regional structure (see Figure 1 for the location of the breccia belt with total gravity and magnetic maps).

The LLBB was found to contain a variety of different rock types as inclusions, with at least two different exotic mafic rock types of an unknown origin. The variety of rock types differing from the surrounding geology suggests that the breccia clasts were transported significant distances. This is an uncommon occurrence in the region and demonstrates similarities with both the South Range Breccia Belt (SRBB) and footwall-type breccia that occur along the footwall of the Sudbury Igneous Complex (SIC). The SRBB hosts the Frood-Stobie deposit, the largest ore deposit in the Sudbury Basin and one of the largest single deposits in the world. It appears that the new LLBB is the only other breccia structure analogous to the SRBB occurring around the SIC. Inventus plans to use the SRBB and the Frood-Stobie deposit as a model to guide future exploration on the Property.

Mafic Dykes

Two exotic mafic dykes were also mapped on the Property during the 2018 field season (See Figure 1 for the location of the mafic dykes with total gravity and magnetic map backgrounds).

Tholeiite Diorite Dyke

This dyke was observed intruding the Huronian Supergroup sediments with a near vertical dip and was mapped in two sections for a combined length of 5.7 km. Initial analysis of the dyke revealed some lithological similarities to quartz diorite offset dykes that are found radiating from the Sudbury Igneous Complex (SIC), including anomalous platinum and palladium values. Both sections of the dyke share the same NE-SW strike and are likely connected for a total length exceeding 8 km. The southwest extent of the dyke could project back to the SIC, similar to other offset dykes found radiating from the Sudbury Structure. The north-eastern section of the dyke is spatially associated with known hydrothermal Au-Cu and Au-Co-Ni mineralization and the newly identified LLBB (see Figure 2).

Previous exploration of the hydrothermal mineralization by Flag Resources at the Wolf Lake and Cobalt Hill areas did not recognize the significance or possible genetic relationship between the mafic dyke, Sudbury breccia, and the SIC. An examination of Flag’s historic exploration data revealed the mafic dyke was intersected in multiple drill holes near the hydrothermal Cu-Au mineralization, and only one 10 m section of the mafic dyke appears to have ever been assayed, which returned 1.1 g/t gold over 9.3 m. It appears from the historic account that the mafic dyke was not analyzed for platinum or palladium.

Alkaline Diorite Dyke

This dyke was mapped over 1 km above the western peak of the Temagami Magnetic Anomaly where it has an intrusive contact with the Huronian Supergroup sediments (see Figure 2 for location). The dyke is moderately magnetic with a near vertical dip and has a NW-SE strike. The contact of the dyke with the LLBB was not observed, however, clasts of the dyke were found in the breccia (see Figure 3). The alkaline diorite dyke is older then the Huronian sediments but younger then the Sudbury Event and does not correlate with any intrusive magmatic events in the region. The possibility of this dyke being a distal segment of a larger magmatic body at depth, potentially responsible for the Temagami Magnetic Anomaly, is being evaluated.

Inventus believes that both the LLBB and exotic mafic dykes present excellent exploration targets. Inventus is planning its upcoming 2019 field season with emphasis on field observations and our newly acquired database of geophysical data, including detailed magnetic data produced by Falconbridge that was kindly provided by Glencore.

Click here for figures:

About Inventus Mining Corp.

Inventus is a mineral exploration and development company focused on the world-class mining district of Sudbury, Ontario. Our principal asset is a 100% interest in the advanced exploration stage Pardo Paleoplacer Gold Project located 65 km northeast of Sudbury. Pardo is the first important paleoplacer gold discovery found in North America. Inventus has 110,301,069 common shares outstanding (123,925,235 shares on a fully diluted basis).

For further information, please contact:

Mr. Stefan Spears
Chairman and CEO
Inventus Mining Corp.
Tel: (647) 258-0395 x280


The Sudbury 2.0 complex is a potentially huge cherry on top of their Pardo paleoplacer deposit they are currently exploring.

Correct me if I’m wrong but it seems that the market capitalization of Artemis is close to $27,865,000 right now. They have some debt but not that much. Doesn’t it seem like their stock is quite a bit oversold??? I would think they could get close to $50 mil for just their plant. So, by buying the stock now you’d get half the plant for free and all their properties thrown in to boot. Where am I wrong ???

I think they burned through all their money so a lot of dilution is expected. Not starting their plant in February was bad and now there is no clear idea on when it will start will probably keep it in the toilet till the new plants starts or it becomes clear what the level of dilution will be for more money.

I think Novo, their neighbor is probably a better risk/reward and it is who will probably end up with the plant if Artemis doesn’t come up with some money somewhere.

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