The Mining Play

Other Mining Stocks

These are quite impressive drill results. Recently tripled in price from summer and now retracing. The current political environment in Bolivia is very unstable however.

Natedogg,
Still in these? Both were brought to thread’s attention a few years back. Both really took a hit this past year down 50%+ It seems producing miners are garnering the most attention. Both companies are in exploration stage burning cash. I picked up some GGI.V this morning due to the drilling results reported in Yesterday’s (Nov 4) news release.


Garabaldi is a long-term hold in my portfolio worth keeping an eye on. It is quite far from production, however.

Also added to a position in Fortuna Silver Mines (FSM) which seems to be completely out of favor and down more than 40% since September. It is a producing miner, but it missed estimates for current Q3. It looks to have good to very good growth potential, IMO. Worth taking a look and adding to watchlist for anyone looking for potential ideas. Additional ideas and DD for other miners have been mentioned on this thread over the past few years. Anyone have new ones to add, or is everyone just too worn out on the disappointing main thread? :woozy_face:

From the news release Nov 4:

Garibaldi Follows New High-Grade Pathways Below Lower Discovery Zone at Nickel Mountain

Crews have just completed drill hole EL-19-80, the 34th of this season, as they continue to expand the scale of Northwest British Columbia’s first nickel-copper-rich magmatic sulphide system in all directions. This update includes assays for 11 additional holes through EL-19-61, following previously reported EL-19-53, EL-19-48 and EL-19-47. Jeremy Hanson, Garibaldi VP-Exploration, stated: “Many more assays are yet to come. 2019 will unquestionably be our most productive and significant season yet at Nickel Mountain.”

Drill hole EL-19-54 cut four separate intervals of massive sulphide mineralization totaling 9.7 meters core length, at depths starting from 35 meters, 82 meters, 114 meters and 147 meters, including 4.9 meters grading 5.46% nickel and 3.21% copper. This important hole extended the Upper and Lower Discovery Zones westward and, significantly, intersected 51.2 meters of disseminated nickel sulphide mineralization in a chamber starting 290 meters downhole.

Additional information is in the news release.
Assay results include result of Ni, Cu, Pt, Pd, Au and Ag.

Royal Nickel Corporation - RNC (RNKLF) Q3 Report is out:

RNC Announces Strong Third Quarter 2019 Results Including Production Of 24,216 Oz, Adjusted Earnings(2) Of $8 Million And Reiterates Second Half 2019 Guidance

Third Quarter of 2019 Highlights

  • Third quarter 2019 consolidated gold production of 24,216 oz and AISC2 of US$1,183/oz
  • Announced second half 2019 production and cost guidance of 42,000 – 49,000 ozs at AISC of US$1,150– US$1,250 per oz
  • Third quarter 2019 was the first full quarter of processing material at RNC’s 100% owned Higginsville Mill achieving a 35% reduction in milling costs (now A$29/t vs. prior $45/t while toll-milling)
  • Generated adjusted earnings2 and adjusted EBITDA2 of $8.0 million and $9.1 million, respectively
  • Strong quarter-end cash balance of $24.8 million and positive working capital of $12.2 million
  • New management appointments to strengthen gold-focused team
  • Additional high grade coarse gold discoveries announced at Beta Hunt of 1,750 oz (see RNC news release dated September 24, 2019) and 3,200 oz (see RNC news release dated October 17, 2019)
  • Strong exploration results reported outside of Baloo open pit 8.7 g/t Au over 3 meters from 63 meters downhole in drill hole BLOR003 (see RNC news release dated October 15, 2019)
  • Reported increased resource at Beta Hunt: 395% increase in the global measured and indicated resource to 944 koz (10,104 kt @ 2.9 g/t Au) and 195% increase in the inferred resource to 406 koz (4,109 kt @ 3.1 g/t Au) at a low discovery cost of A$7.30 per oz
  • Maiden Proven and Probable gold reserve at Beta Hunt on track to be delivered in 4Q19

http://www.rncminerals.com/2019-11-06-RNC-Announces-Strong-Third-Quarter-2019-Results-Including-Production-of-24-216-oz-Adjusted-Earnings-2-of-8-million-and-Reiterates-Second-Half-2019-guidance

also:

RNC Minerals (TSX: RNX) (“RNC”) is pleased to announce senior management will host a conference call / webcast on November 6, 2019 at 10:00 a.m. (Eastern Time) to discuss the corporation’s third quarter 2019 results. The access information is provided below.

Conference Call / Webcast Details

Date: November 6, 2019
Time: 10:00 a.m. (Eastern time).
North American callers please dial: 1-888-231-8191
Local and international callers please dial: 647-427-7450
Webcast Link
(https://event.on24.com/wcc/r/2127761/2CEDB735437C06C612573E066B3495DA)

RNC plans to issue a news release containing third quarter 2019 results before markets open on Wednesday, November 6, 2019.

A recording of the conference call will be available for replay through the webcast link or for a one-week period beginning at approximately 1:00 p.m. (Eastern Time) on November 6, 2019, through the following dial in numbers:
North American callers please dial: 1-855-859-2056; Pass Code: 7829328

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https://www.gowebcasting.com/events/precious-metals-summit-conferences-llc/2019/11/12/rnc-minerals/play/stream/28888

I see they’ve already dropped their AISC by $100

McEwen Mining Announces Proposed Public Offering

TORONTO, Nov. 19, 2019 (GLOBE NEWSWIRE) – McEwen Mining Inc. (the “Company” or “McEwen”) (MUX.TO) (MUX.TO) today announced its intention to offer shares of its common stock and warrants to purchase its common stock in a registered underwritten public offering, subject to market and other conditions. McEwen Mining also expects to grant the underwriters a 30-day option to purchase up to an additional 15% of the shares of common stock and warrants sold in the public offering.

The Company intends to use the net proceeds from the offering for advancing its current mining projects and exploration prospects, for additional operating capital and for general working capital purposes.

Roth Capital Partners and Cantor Fitzgerald Canada Corporation are acting as joint book-running managers for the offering. The offering is subject to market and other conditions, and there can be no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Down more than 13% AH. Ugh!

A few days old, but thought it worth posting for those who may be interested.

Positive Coarse Gold Recoveries From Recent Bulk Samples at Novo’s Egina Project

VANCOUVER, B.C., Oct. 09, 2019 (GLOBE NEWSWIRE) – Novo Resources Corp. (“ Novo ” or the “ Company ”) (TSX-V: NVO; OTCQX: NSRPF) is pleased to announce it has recovered significant coarse gold from trenching and bulk sampling at its Egina gold project, Western Australia. Recent results further confirm Novo’s view that surface gravels covering the vast erosional terrace at Egina have the potential to host a gold deposit. Novo currently controls approximately 2,000 sq km of prospective erosional terrace.

Novo’s most recent trench, Trench 4, is oriented north-south and situated approximately 70 metres west of Trench 1 and its associated bulk samples discussed in the Company’s news releases dated August 13, 2019 (https://www.novoresources.com/news-media/news/display/index.php?content_id=360) and August 22, 2019 (https://www.novoresources.com/news-media/news/display/index.php?content_id=361). Three bulk samples collected adjacent to Trench 4 yielded 337.2 grams of coarse, natural gold nuggets from 222.2 cubic metres of lag gravel.

Highlights:

  • Metal detecting and gravity processing of 222.2 cubic metres of surface lag gravels yielded a total of 337.2 grams of coarse, natural gold nuggets ( please refer to below table of results and Figure 1 for sample locations ).

  • Bulk sample EGBS025 contained a single gold nugget weighing 86.3 grams, the largest yet recovered from the 2019 field season.* Novo considers these results very encouraging because the weight of recovered gold excluding this one outlier nugget is 250.9 grams. Many alluvial gold deposits display grades significantly below one gram per cubic metre.

  • All gold discussed in this news release is coarser than one mm and potentially amenable to low cost “dry” extraction methods such as eddy current separators and mechanical sorters. Novo discussed favorable preliminary test results using eddy current separators on Egina gold nuggets in a Company news release dated September 16, 2019 (https://www.novoresources.com/news-media/news/display/index.php?content_id=363).

  • Bulk sampling was undertaken across a 48-m wide nugget-rich zone within a broad topographic depression, or swale, identified by ground penetrating radar.

  • Additional trenching and bulk sampling is currently underway and will continue until the end of 2019.

  • This nugget is not necessarily indicative or representative of mineralization at the Egina project.


Notes:
A – Gold purity has been assessed at Egina and falls within a range of 89% - 95%.
B – Based on whole sample assays.
C – Back-calculated from assayed sub-samples.

“We are pleased to see consistently gold-rich gravels in the swale at Egina,” commented Dr. Quinton Hennigh, president and chairman of Novo. “We now have seven bulk samples from this target that have yielded, in aggregate, 629.6 grams of coarse, natural gold nuggets from 504.1 cubic metres of surface lag gravels. Over the remainder of this year, we plan to undertake sufficient trenching to outline an area that can be subjected to test bulk extraction and processing next year.”

Novo’s current Egina program is focusing on identifying terrace gravels that can be subjected to bulk extraction and processing tests next year. In conjunction with its field activities, Novo is also currently examining various types of equipment that can be used for continuous gravel excavation, mobile “dry” gold processing and immediate environmental reclamation methodology that could be field tested next year.

In addition to the three samples discussed above, a fourth bulk sample, EGBS024, was collected adjacent to Trench 4 near it southern terminus. Although the trench immediately adjacent to EGBS024 yielded eight detectable nuggets, two of which were in the range of 1-5 grams, no detectable nuggets were found while excavating EGBS024. Processing yielded 3.7 grams of nuggets from 96.3 cubic metres of gravel. The contrast in nugget yield between the trench and bulk sample is illustrative of the irregular distribution of gold in these gravels.

Bulk samples discussed in this news release were collected from pits approximately 4 m wide and 16 m long under the supervision of Novo personnel. Depth of pits varies from about 1-1.5 metres. Sandy soil overburden was generally stripped prior to gravel extraction. Some underlying bedrock material was excavated along with gold-bearing gravels to ensure capture of gold on the bedrock interface. Each sample was excavated in lifts approximately 20-30 cm thick. Every lift was detected for gold nuggets by Novo personnel prior to removal, and the location and weight of each nugget was recorded without limitation prior to being securely stored. Bulk sample gravel was transported to Novo’s Station Peak camp where it was processed through the Company’s IGR 3000 gravity gold plant. Various concentrates and tailings from the IGR 3000 plant are currently being analyzed to evaluate fine grain gold. Once these results have returned, the fine gold contribution will be added to the coarse gold tally. X-ray fluorescence analysis of nuggets indicates purities ranging from 89-95%. Densities of gravels vary widely generally ranging between about 1.4-2.1 tonnes per cubic metre. Unlike hard rock gold deposits, alluvial gold deposit grades are commonly reported in grams per cubic metres.

Dr. Quinton Hennigh, P. Geo., the Company’s president, chairman, and a director, and a qualified person as defined by National Instrument 43-101, has approved the technical contents of this news release.

About Novo Resources Corp.

Novo’s focus is to explore and develop gold projects in the Pilbara region of Western Australia, and Novo has built up a significant land package covering approximately 13,000 sq km with varying ownership interests. 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
President and Chairman

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this news release.

Forward-looking information
Some statements in this news release contain forward-looking information (within the meaning of Canadian securities legislation) including, without limitation, statements as to planned exploration activities and the expected timing of the receipt of results. These statements address future events and conditions and, as such, involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the statements. Such factors include, without limitation, customary risks of the mineral resource industry as well as the performance of services by third parties.

Figure 1:
A PDF accompanying this announcement is available at: http://ml.globenewswire.com/Resource/Download/69d7faf1-7e0b-463a-b329-992ad359d22f

Good time to buy?

NOVO continues to go up on no news. No sure exactly what is pending but some active discussion about it here: https://ceo.ca/nvo

http://www.kereport.com/2019/11/22/novo-resources-a-comprehensive-update-on-the-mechanical-sorting-advancements-and-what-it-means-for-the-overall-pilbara-region/

Growing evidence that they may be able to dry-process their Egina, Comet Well, and even their Beatons Creek deposit, that is, crush and ore-sort, for extremely low cost. I guess someone is starting to believe the story and speculatively buy again

Also their Annual meeting is coming up, and they are going to approve Kirkland Lake exercising something like 14M more warrants which apparently would make them a “Controlling Person” of Novo. I think the strike price is $6 though, so the price has a way to go for this to happen.

Kirkland Lake Gold to buy Detour Gold for C$4.89 billion in mining deal

Another news release came out; this one on upcoming dry mechanical sorting trials;

Some Inventus news:

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More NOVO news and stock continues to move.

https://ceo.ca/@nasdaq/novo-reports-significant-sub-1mm-gold-from-egina

Their enormous dry placer style deposit is likely several fold times the concentration of more normal economic ones found elsewhere.

Quick way to get up to speed: https://youtu.be/PJJWB5QYmA8?t=663

MUX, good buy at less that 1.2?
Seems crazy cheap. But I don’t follow it very closely.

Inventus perked up price and volume today. Not sure why, but it may have been due to this article:

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Looks like a massive undertaking to explore/develop Sudbury 2. Hope a big partner emerges to help?

Sudbury 1 is worth a trillion dollars. https://www.sudbury.com/local-news/the-sudbury-basin-ontarios-trillion-dollar-mining-camp-220434

How much is Sudbury 2 worth?

The following article discussing Mega M&As in Gold Miners in 2019 caught my attention due to several stocks I have positions in.

Gold Mining’s Mega-Merger Output -10% as M&A Eats Exploration Spending

Thursday, 12/05/2019 18:57

Record M&A ‘critical’ in denting exploration budgets…

GOLD MINING spending on M&A deals has jumped to a new record this year, eating into exploration budgets and most likely leading to lower output from newly-combined companies in 2020.

Figures from the Refinitiv Eikon database, formerly part of Thomson Reuters, say that gold-mining companies spent $30.5 billion on 348 merger or acquisition deals in 2019, beating the 2010 peak by nearly $5bn.

https://www.bullionvault.com/gold-news/gold-mining-120520192

(CNL:TO (CGOOF) caught me by surprise; China’s state-backed Zijin Mining picked it up for only $1.4B for a very lucrative mine, largely because Columbia is considered a less safe Tier 2 country for mining. See: https://www.juniorminingnetwork.com/junior-miner-news/press-releases/970-tsx/cnl/70330-zijin-mining-to-acquire-continental-gold-in-friendly-all-cash-offer-for-c-1-4-billion.html)

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One more long article I found interesting with excerpts of the article shown below. ( Click the link if you are interested in reading the entire article.) :

How to Time Gold Mining Stocks
Wednesday, 11/06/2019 09:09

Reliable profits in the sweet spot…
But so many investors get this part of investing wrong. They buy when there is the most risk, and when the chance of making a winning bet is least likely to happen.
That’s where the chart below comes into play. It shows the life cycle of a mining company.

And it holds the key to making reliable, predictable trades that helped book 102% average gains…with an incredible 80% success rate…
Life%20Cycle%20of%20the%20Average%20Mining%20Cycle

By understanding the life cycle of a stock – in this case, a mining stock – we can achieve repeatable investment returns on some of the market’s most explosive stocks.

You see, what most investors don’t realize is that there are three phases in an average mining stock’s life. But only one is the sweet spot for profits. All too often, most investors invest during the “wrong” phase. I’ll explain the “right” phase in a moment – and it may not be the phase you think it is. In many ways, it’s counterintuitive. But I’ll get to that shortly.

To break down the phases, they are…

The Discovery Phase

This is where­ a company finds a new mineral deposit. …

The Boring Engineering Phase

Here, a company has found a new mineral deposit. Its stock price has exploded higher. However, the company is no longer pumping out exciting drill results.

Instead, management is testing groundwater, measuring rock quality, and building mine models. …

The Golden Runway Phase

Every “boring” step the company completes brings it closer to actually mining. And when there’s a prospect of cash flows, a whole new group of big investors becomes interested: pension funds, private equity, even major mining companies. …

https://www.bullionvault.com/gold-news/gold-mining-110620191