The Mining Play

Other Mining Stocks

Hi Hulk

Consider me retired and moved on. My interest in posting charts here went to zero long ago after someone complained about me hogging a hardly used forum. Even if that hadn’t happened, twenty years experience in the markets has soured my interest in any of this considerably, and this “investment” in particular has been a major contributor.

My post MDMN mantra… Live, learn, and move on…

Best to all here.

Thanks for the feedback TR greatly appreciated.

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TR,
Your presence here was always appreciated. I know you were always very receptive to my requests to look at PM mining companies off the main thread. Your comments and charts were clear and to the point. The many years “guessing” on when the ADL would have a comeback has worn down the best of shareholders. Too many dreams of a a sure thing turned to a long shot. Thanks for hanging in on this and previous forums for so many years. A million thanks and may the future bless you in every way.
Easy

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TraderRick;
Sorry to hear you’ll be gone from this board. I want to thank you myself for all you wisdom, and humor you’ve added to this adventures bus ride.
You always brought a human insight, to my late night reads.
I wish I could have spent some time sitting around a fire on a beach somewhere, shooting the shit with you.
Good luck with your new adventures in life. Many Happy Trails.
Coldsnöw.

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De Grey Mining - 136m @ 2.0g/t with additional high-grade drill results at Toweranna

It was my pleasure folks. Hopefully you all have new and exciting things to move on to in your lives. If you don’t, then make them. :slight_smile:

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Please stick around.

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I look in here from time to time. If there is anything I feel compelled to offer I’ll do so. I appreciate the sentiment.

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Thank you very much.

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For those of you interested in MCEWEN MINING INC (MUX on Toronto Stock Exchange), and think it will do well in the future, I bought some Oct. $2 Call options. Right now the bid/ask is $0.08/$0.30, probably could be had for $0.20-$0.25. If MUX climbs back above $2 before October, these options will easily double, triple. There’s still 6 1/2 months left for the options.

Rod

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MUX is currently at 1.92 Can

You can get a quote at :

https://www.stockwatch.com/Quote/Detail.aspx?symbol=MUX191018C2.00&region=C

Rich;

How the oil trade going ?

Rod

It certainly seems likely NOVO is going somewhere.

Canadian listed gold developer Novo Resources is a step closer to mine production at its Pilbara assets in WA, with a key mining lease over its emerging Beatons Creek conglomerate gold project granted this week.

The rigorous approvals process was underpinned by the company’s impressive mineral resource estimate generated for the project, which outlined a global gold inventory of just over 900,000 ounces, with 316,000 ounces sitting within the oxide zone, which Novo will attack first.

All necessary tenure, Native Title agreements, environmental studies and mining plans are now in place for Novo to kick start gold production in Australia.

Company management said it had started work to secure approvals for the project’s fresh rock resource component, that contains the remaining 587,000 ounces presently defined at Beatons Creek.

The grant of the new tenement – known as the Edwards lease - is important to Novo, as it contains 99% of all the gold mineralisation delineated at the project area to date.

Company CEO and Director Rob Humphyson said: “The granting of mining tenure and approvals are a testament to the hard work and expertise within the Novo technical team, particularly given the challenges of seeking approvals for operating proximal to a residential area and within a P1 water reserve.”

“These are very welcome developments and complementary to the east Pilbara options study which is now well underway. The centrepiece of this study is an assessment of the productive mining capacity of Beatons Creek based upon our improved understanding of resource block dimensions, which will in turn inform processing plant sizing and costing.”

The company also revealed that it had completed its mineralisation report for its Karratha gold project, which incorporates the Comet Well and Purdy’s Reward exploration licences that contain conglomerate gold-hosted mineralisation.

Novo said the new resource estimate is undergoing final internal reviews and details will be made available upon completion of these reviews.

The company recently initiated its 2019 field exploration season across its vast ground holdings in the Pilbara region of WA.

At the Egina gold project, about 80km southwest of Port Hedland, the company is completing detailed geological mapping and small-scale, trench “pan” sampling ahead of a large bulk-sampling and processing phase for the project.

The collection of 100-tonne bulk samples for gold processing on-site at Egina will initially be undertaken on granted mining leases Novo acquired last October.

A series of upgrades to the company’s gravity gold processing plant are underway, in preparation for the bulk sampling operations.

The aim of the sampling program is to establish a means of delineating mineral resources across the defined and targeted gold-bearing gravel terraces located throughout the Egina district.

At the Karratha gold project further west, the company has begun a field program of target generation supported by mapping and sampling over 8km of strike for conglomerate-hosted gold mineralisation between the prospective Comet Well and the Purdy’s Reward projects.

The company is also considering potential trial bulk sampling options on the existing exploration licences at Comet Well and Purdy’s Reward to determine whether an alternative processing path is available for these gold deposits, before a decision to commence conversion to mining leases.

Novo will undertake helicopter-supported reconnaissance field exploration programs to help evaluate additional conglomerate-hosted gold opportunities along more than 300-line kilometres of prospective strata within its broader Karratha tenement package.

This program aims to quickly identify, rank and test any targets outlined for occurrences of conglomerate-hosted gold so that the company can rationalise its voluminous land holdings in the Karratha region.

In April, Novo revealed that a comprehensive options study was underway for its East Pilbara gold assets located near the towns of Nullagine and Marble Bar in Western Australia.

This work revolves around Beatons Creek and the company engaged Perth-based consultants Acacia Management and Optiro to undertake the options study for its broad East Pilbara gold holdings.

The options study will now have a much greater urgency for Novo, given this week’s grant of the strategic mining lease over Beatons Creek.

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https://ceo.ca/@newswire/rnc-minerals-discovers-new-high-grade-gold-occurrence

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If anyone cares

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Oh, I care alright!

“Underground miners have recovered an estimated 987 ounces of coarse gold in 238 kilograms of rock since Saturday — worth about $1.9 million at today’s gold price.”

There are 1,000 kilograms in a metric tonne. So multiply 987 oz * 4 results in almost 4,000 oz per tonne in those rocks.

Other quotes from the article: "“There’s been quite a few gold pockets now and it’s getting to become a bit of a regular occurrence.”

“They had been picking up gold rocks for three hours by the time the ABC arrived and had filled three large buckets with specimens.”

“This is the 10th pocket above 30 ounces that we’ve had in the last two years while I’ve been here,” Ms Cole said.

Last year when they discovered the Father’s Day Vein, the stock rallied from .25 to 1.15 in a few days. With the share price at .42, I could see it retesting those levels on the heels of this second discovery. Plus the article said that results from their 40,000 meter drill program should begin coming in next week which, based on the quotes in the article, I imagine will confirm the high grade gold around the Father’s Day Vein.
This really is a special gold company that no doubt will be taken out rapidly for the right price - Kirkland Lake anybody?

I wish I owned more.

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RNX CEO discusses recent discovery and upcoming catalysts.

1 or 2 more of those big hits; there will be no stopping this. It helps that gold prices are recovering at the same time as well. I was going to add a bunch of shares of this when it hit a recent low but was getting worried about the dilution death spiral that hovers above it. I also didn’t like that ill timed production pause of theirs either.

In another reality, Auryn could have been putting out the same sort of announcements about the Caren vein if they had their gotten their act together though admittedly the geology isn’t as favorable for such crazy bonanza grades as it is for RNX.

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Novo Resources strikes US$30M joint venture deal for Pilbara gold project with Japan’s Sumitomo Corp

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10:30 07 Jun 2019

Sumitomo can earn up to a 40% interest in the property by spending up to US$30 million over three years

Novo is developing gold projects in the Pilbara region of Western Australia

Novo Resources Corp (CVE: NVO) (OTCQX: NSRPF) shares advanced Friday as its Egina gold project in Pilbara, Western Australia was boosted by a farm-in and joint venture deal with Japanese trading giants Sumitomo Corporation (OTCMKTS:SSUMY).

Sumitomo can earn up to a 40% interest in the property by spending up to US$30 million (around C$40.2 million) over three years, with a required minimum of US$5 million (approximately C$6.7 million) per phase defined by a program and budget.

Early stage, high potential

“Novo’s Egina project is an early-stage, high-potential gold project,” said Dr Quinton Hennigh, chairman of Novo Resources Corp in a statement.

“Sumitomo, upon conducting their own technical review, has developed a similar opinion. It is remarkable for an exploration company to team up with a world-class finance partner like Sumitomo," he said, noting the relationship between the two companies had been established over many years. “With Sumitomo’s financial backing, we aim to quickly advance Egina through exploration and test-extraction phases with the ultimate goal, should results prove favorable, of setting the project on a path to production.”

In Pilbara, Novo also has the Beatons Creek, Blue Spec and Marble Bar projects and has a land package covering around 12,000 square kilometers with varying ownership interests.

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