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Midland, Vista, Lara All Make Progress on Projects, Are ‘Best Buys’

Source: Adrian Day for Streetwise Reports   09/08/2021

The Global Analyst has been focusing on the senior producers more in the last many months,…

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This article was originally published by The Gold Report

Source: Adrian Day for Streetwise Reports   09/08/2021

The Global Analyst has been focusing on the senior producers more in the last many months, since they are undervalued and more certain to respond to a higher gold price. They remain good buys. However, many of the juniors have seen their stock prices slide and there are excellent buys in that sector. Below are three of our favorite resource juniors, all buys.

Midland Exploration Inc. (MD:TSX.V) continues to be active on exploration programs both on wholly owned ground and joint ventures, with some interesting results.

Last week, it announced results of its summer drilling campaign on its large, prospective Mythril Project in James Bay. The new results show copper, molybdenum, gold, and silver, near surface. The project is 100% owned by Midland, but BHP took a large placement in the company following its initial results after it was discovered in late 2018, and Midland closely consults with BHP over plans for the project.

Midland is continuing exploration at Mythril including seeking additional regional targets. With several active programs, well-funded Midland is a strong buy.

Vista’s Feasibility Study Underway

Vista Gold Corp. (VGZ:NYSE.MKT; VGZ:TSX) has commenced the third phase of a drilling program at Mt. Todd after completing 18 holes. The campaign is drilling new areas between the core Batman deposit and the newer Quigleys deposit, seeking to add resources and extend the mine life.

This exploration drilling has been successful so far.

Vista also announced that work on the Definitive Feasibility Study is underway, on track for completion in the first quarter of next year. This program will use a higher gold price and include more resources than the previous preliminary feasibility study (which used a $1,000 gold price). Some input costs will be higher than in the earlier study, but on balance the new study should show meaningfully improved economics.

Vista is a buy.

Lara Expands Promising Projects

Lara Exploration Ltd. (LRA:TSX.V) continues to advance several projects. It received the second option payment of $200,000 from Minsur SA for that company to earn its interest in the Lara Copper Project in Peru. And perhaps more significantly it announced that BHP has transferred a property that surrounds Lara’s Puituco project, also
in Peru.

Lara previously reported very promising chip samples from Puituco but the project was small without BHP’s adjoining Kenita property. Lara remains a buy.

Best Buys, in addition to those above, include Hutchison Port Holdings Trust (HPHT:Singapore); Orogen Royalties Inc. (OGN:TSX.V); Fortuna Silver Mines Inc. (FSM:NYSE; FVI:TSX; FVI:BVL; F4S:FSE); Barrick Gold Corp. (ABX:TSX; GOLD:NYSE); and Pan American Silver Corp. (PAAS:TSX; PAAS:NASDAQ). Two other favorites, Osisko Gold Royalties Ltd. (OR:TSX; OR:NYSE) and Altius Minerals Corp. (ALS:TSX.V), both volatile, would be “best buys” on any pullback.

And, Finally, an Event in Colorado

I am off to Colorado for two back-to-back gold conferences where I shall be having one-on-one meetings with most of the companies on our list. I aim to follow up with you on these meetings.

While in Colorado, I am holding a private seminar for clients and friends. This will be in downtown Denver, on Saturday, Sept. 11th in the afternoon. For information and to register, please contact the office at 410-224-8885 or info@adrianday.com. You are welcome to come and bring a friend.

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Disclosure:
1) Adrian Day: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: All. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Funds controlled by Adrian Day Asset Management hold shares of the following companies mentioned in this article: All. I determined which companies would be included in this article based on my research and understanding of the sector. Additional disclosures are below.

2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.

3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.

5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Fortuna Silver Mines Inc. and Pan American Silver Corp., companies mentioned in this article.

Adrian Day's Disclosures: Adrian Day's Global Analyst is distributed by Investment Consultants International, Ltd., P.O. Box 6644, Annapolis, MD 21401. (410) 224-8885. Publisher: Adrian Day. Owner: Investment Consultants International Ltd. Staff may have positions in securities discussed herein. Adrian Day is also President of Global Strategic Management (GSM), a registered investment advisor, and a separate company from this service. In his capacity as GSM president, Adrian Day may be buying or selling for clients securities recommended herein concurrently, before or after recommendations herein, and may be acting for clients in a manner contrary to recommendations herein. This is not a solicitation for GSM.

Views herein are the editor's opinion and not fact. All information is believed to be correct, but its accuracy cannot be guaranteed. The owner and editor are not responsible for errors and omissions. ©2021. Adrian Day's Global Analyst. Information and advice herein are intended purely for the subscriber's own account.

Under no circumstances may any part of a Global Analyst e-mail be copied or distributed without prior written permission of the editor. Given the nature of this service, we will pursue any violations aggressively.

( Companies Mentioned: ALS:TSX.V, ABX:TSX; GOLD:NYSE, FSM:NYSE; FVI:TSX; FVI:BVL; F4S:FSE, HPHT:Singapore, LRA:TSX.V, MD:TSX.V, OGN:TSX.V, OR:TSX; OR:NYSE, PAAS:TSX; PAAS:NASDAQ, VGZ:NYSE.MKT; VGZ:TSX, )

Articles

Gold Digger: Are ASX large cap gold stocks a screaming buy?

The valuations of major gold miners remain weak despite falling debt and record dividends, according to the latest Metals Focus … Read More
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The valuations of major gold miners remain weak despite falling debt and record dividends, according to the latest Metals Focus Gold Peer Group Analysis.

Australia’s largest gold miners Newcrest (ASX:NCM), Northern Star (ASX:NST), and Evolution (ASX:EVN) are down 24%, 33% and 34% respectively over the past 12 months.

In the mid cap space Regis Resources (ASX:RRL), Silver Lake Resources (ASX:SLR), Ramelius Resources (ASX:RMS) and Gold Road (ASX:GOR) have dropped 60%, 44%, 38% and 21% over the same period.

Perseus Mining (ASX:PRU) is the only standout – if you can call it that — having maintained a 0% return over the past year.

This is partially sentiment driven, with the precious metal struggling to stay above $US1,800 as other commodities boom. The current price of $US1,745/oz  is down 15% from all time highs hit last year.

And yet the fundamentals for major miners are strong, Metals Focus says.

“During the last gold bull market, which ended in 2012, gold miners had increasingly been using debt to fund project development in the pursuit of higher production,” it says.

“This changed as prices began declining and margins were squeezed, which led to miners reprioritising cost and capex reduction to maximise cash flow and lower debt.”

This strategy has been largely successful.

Net debt for global large cap gold miners has fallen from a peak of $US32bn in 2013 to its present level of US$6bn, Metals Focus says.

“Improved margins, thanks also to a rising gold price, has allowed companies to boost dividends and in some cases start share buy-back programmes,” it says.

“The weighted average dividend yield for the peer group is still a modest 3.1%, but this is a new high in our records going back to 2009.”

However, despite these improving financial metrics the sector’s rating has lagged.

“The weighted average enterprise value/EBITDA and the adjusted price to earnings ratio in Q2.21 were close to their lowest levels in our records going back to 2009,” Metals Focus says.

“This suggests that these companies are undervalued relative to historic levels despite strong fundamentals.”

Former geologist and experienced stockbroker Guy Le Page said as much in his Stockhead column this week.

“With the gold index off almost 40% from its July 2020 highs I believe it is time to re-enter the mid to large cap gold stocks and I think Evolution Mining (ASX:EVN) is probably a good option,” he says.

“EVN are a little more conservative in their growth strategy, sticking to First World jurisdictions, and somewhat cautious about stretching their balance sheet, however the company provides good leverage to any bounce in gold.”
 

Winners & Losers

Here’s how ASX-listed gold & silver stocks are performing:

Scroll or swipe to reveal table. Click headings to sort. Best viewed on a laptop

CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP
A8G Australasian Gold 56 179 0.405 $ 12,941,752.29
KCN Kingsgate Consolidated 44 71 43 35 1.23 $ 261,158,134.54
AVW Avira Resources Ltd 40 75 8 -13 0.007 $ 10,312,740.00
MTC Metalstech Ltd 35 155 211 229 0.56 $ 79,588,819.00
MVL Marvel Gold Limited 26 28 36 13 0.068 $ 38,788,498.14
GML Gateway Mining 20 13 -36 -14 0.018 $ 34,265,440.80
AXE Archer Materials 18 -3 104 259 1.94 $ 454,274,559.27
AAJ Aruma Resources Ltd 17 52 84 -13 0.105 $ 11,336,535.27
POL Polymetals Resources 17 0 0.14 $ 5,435,255.98
NMR Native Mineral Res 16 11 -13 0.26 $ 7,491,510.00
STN Saturn Metals 14 7 22 -34 0.45 $ 52,928,819.70
WWI West Wits Mining Ltd 14 -17 -40 47 0.05 $ 74,424,611.63
SMI Santana Minerals Ltd 14 9 -11 -40 0.125 $ 17,675,058.58
NML Navarre Minerals Ltd 13 14 -35 -22 0.098 $ 65,609,382.19
PNM Pacific Nickel Mines 11 54 63 74 0.08 $ 16,117,127.70
STK Strickland Metals 11 37 164 14 0.052 $ 50,789,751.19
KTA Krakatoa Resources 11 49 16 -30 0.073 $ 20,924,404.11
GBR Greatbould Resources 10 96 323 252 0.165 $ 53,585,371.35
TRM Truscott Mining Corp 10 3 62 70 0.034 $ 5,014,070.95
RDT Red Dirt Metals Ltd 9 88 76 50 0.3 $ 38,112,728.00
RDS Redstone Resources 9 9 0 -29 0.012 $ 8,627,988.76
NWM Norwest Minerals 9 10 -4 -28 0.075 $ 13,545,545.63
FML Focus Minerals Ltd 9 2 -16 -45 0.255 $ 46,600,884.08
PNX PNX Metals Limited 8 -19 -13 -35 0.0065 $ 25,565,354.58
NAE New Age Exploration 8 18 -7 8 0.013 $ 18,666,685.83
M2R Miramar 8 11 -5 0.21 $ 9,915,154.20
FAU First Au Ltd 8 27 -18 -18 0.014 $ 7,990,173.80
CHZ Chesser Resources 7 0 -12 -31 0.145 $ 67,496,938.13
TBR Tribune Res Ltd 7 -1 -2 -33 5.15 $ 270,210,596.55
PDI Predictive Disc Ltd 7 24 99 125 0.155 $ 216,241,656.48
OZM Ozaurum Resources 7 11 3 0.155 $ 8,582,400.00
SLZ Sultan Resources Ltd 6 0 -13 -17 0.17 $ 11,820,846.13
PF1 Pathfinder Resources 6 19 40 0.35 $ 17,463,684.00
BYH Bryah Resources Ltd 6 12 2 -5 0.057 $ 12,331,601.80
TG1 Techgen Metals Ltd 5 18 0.2 $ 7,705,757.00
CWX Carawine Resources 5 -2 -28 -13 0.205 $ 22,322,429.91
LEX Lefroy Exploration 5 11 -42 65 0.42 $ 46,286,496.80
AAU Antilles Gold Ltd 5 10 -18 127 0.085 $ 21,200,641.39
BBX BBX Minerals Ltd 5 10 -19 -54 0.22 $ 98,474,617.13
SKY SKY Metals Ltd 4 7 -40 -23 0.096 $ 29,846,507.04
GED Golden Deeps 4 9 20 -25 0.012 $ 9,310,217.28
DEX Duke Exploration 4 -6 -26 0.245 $ 21,650,676.48
GIB Gibb River Diamonds 4 15 -11 60 0.075 $ 15,651,698.93
AGC AGC Ltd 4 4 -26 0.125 $ 8,127,274.08
AGC AGC Ltd 4 4 -26 0.125 $ 8,127,274.08
SNG Siren Gold 4 -12 -32 0.265 $ 17,206,724.16
AWJ Auric Mining 4 4 -25 0.135 $ 6,034,499.60
HRN Horizon Gold Ltd 3 23 -26 -4 0.35 $ 37,342,205.60
THR Thor Mining PLC 3 42 23 -3 0.0185 $ 11,163,348.39
NAG Nagambie Resources 3 -1 21 43 0.08 $ 40,494,520.03
HWK Hawkstone Mng Ltd 3 11 11 193 0.041 $ 68,793,777.24
DCN Dacian Gold Ltd 2 -7 -45 -37 0.21 $ 203,160,300.84
KRM Kingsrose Mining Ltd 2 -2 5 18 0.046 $ 35,770,360.25
CY5 Cygnus Gold Limited 2 0 -26 -31 0.125 $ 13,552,512.25
HAW Hawthorn Resources 2 16 -12 -46 0.051 $ 17,676,327.49
ICG Inca Minerals Ltd 2 27 51 150 0.14 $ 64,905,360.75
AME Alto Metals Limited 1 -7 10 -5 0.08 $ 36,020,778.88
ARN Aldoro Resources 1 -1 109 329 0.45 $ 38,681,979.16
MM8 Medallion Metals. 1 12 -8 0.235 $ 19,027,970.21
NUS Nusantara Resources 1 2 34 22 0.3475 $ 80,506,369.93
BGL Bellevue Gold Ltd 0 -9 -9 -21 0.8375 $ 842,839,708.64
ALK Alkane Resources Ltd 0 -16 15 -46 0.81 $ 494,172,704.00
PNR Pantoro Limited 0 16 13 10 0.22 $ 309,979,713.56
NVA Nova Minerals Ltd 0 32 -9 32 0.145 $ 252,141,997.05
MGV Musgrave Minerals 0 -5 -25 -51 0.275 $ 151,968,540.47
BCN Beacon Minerals 0 -6 -14 -4 0.032 $ 114,672,836.64
ARV Artemis Resources 0 39 6 -22 0.086 $ 105,419,802.68
LCL Los Cerros Limited 0 -7 -10 -24 0.13 $ 82,384,751.15
ENR Encounter Resources 0 55 50 66 0.24 $ 75,901,565.52
OKU Oklo Resources Ltd 0 4 -31 -57 0.12 $ 60,483,577.44
KSN Kingston Resources 0 15 -9 -15 0.195 $ 57,230,911.40
GWR GWR Group Ltd 0 -27 -41 -24 0.15 $ 42,390,102.02
WRM White Rock Min Ltd 0 -5 -50 -52 0.295 $ 41,315,073.88
BAT Battery Minerals Ltd 0 25 -44 0 0.015 $ 31,548,038.00
CTO Citigold Corp Ltd 0 10 -15 -8 0.011 $ 31,170,250.00
IPT Impact Minerals 0 25 -38 -40 0.015 $ 30,356,923.79
TRY Troy Resources Ltd 0 -5 -46 -58 0.037 $ 30,073,993.35
ANL Amani Gold Ltd 0 100 100 0 0.002 $ 28,410,393.49
ICL Iceni Gold 0 2 0.235 $ 28,148,298.36
KWR Kingwest Resources 0 89 0 -14 0.125 $ 26,034,648.88
BAR Barra Resources 0 29 29 13 0.027 $ 22,151,850.36
MCT Metalicity Limited 0 11 -29 -57 0.01 $ 21,437,715.32
CGN Crater Gold Min Ltd 0 0 -23 31 0.017 $ 20,867,429.74
LNY Laneway Res Ltd 0 0 -9 -38 0.005 $ 19,520,329.67
SI6 SI6 Metals Limited 0 -8 -37 -25 0.012 $ 17,137,727.82
SRN Surefire Rescs NL 0 0 -48 -7 0.014 $ 15,460,345.73
NPM Newpeak Metals 0 100 -33 -33 0.002 $ 13,654,870.31
KGM Kalnorth Gold Ltd 0 0 0 0 0.013 $ 11,625,120.78
PUA Peak Minerals Ltd 0 -16 -36 -45 0.016 $ 9,835,242.43
ALY Alchemy Resource Ltd 0 0 0 -33 0.014 $ 9,411,408.34
MLS Metals Australia 0 33 0 0 0.002 $ 8,454,376.09
FG1 Flynngold 0 3 0.155 $ 8,399,999.72
TMX Terrain Minerals 0 13 -10 -44 0.009 $ 6,621,849.08
WCN White Cliff Min Ltd 0 18 -32 8 0.013 $ 6,206,356.79
MAU Magnetic Resources 0 3 3 40 1.65 $ 359,986,258.50
CYL Catalyst Metals -1 -2 -6 -24 1.87 $ 182,092,826.86
WMC Wiluna Mining Corp -1 0 -5 -53 1.03 $ 161,473,429.68
ARL Ardea Resources Ltd -1 0 -7 5 0.485 $ 64,185,911.84
MDI Middle Island Res -1 -6 -63 -74 0.094 $ 11,507,312.87
AUT Auteco Minerals -1 -11 -12 -43 0.082 $ 136,708,672.75
AOP Apollo Consolidated -1 3 7 21 0.38 $ 113,732,030.10
TIE Tietto Minerals -1 6 -11 -35 0.33 $ 150,541,200.48
SAU Southern Gold -2 -3 -24 -50 0.065 $ 13,653,040.38
VAN Vango Mining Ltd -2 -3 -21 -37 0.063 $ 70,346,777.66
MAT Matsa Resources -2 11 -24 -53 0.061 $ 21,847,431.82
MKR Manuka Resources. -2 2 -20 -35 0.3 $ 29,432,408.27
E2M E2 Metals -2 6 -10 37 0.28 $ 42,131,939.64
MEG Megado -2 -4 -47 0.096 $ 4,089,635.81
GBZ GBM Rsources Ltd -2 2 20 -22 0.1175 $ 58,283,070.31
CST Castile Resources -2 -10 0 -37 0.215 $ 43,936,226.62
HCH Hot Chili Ltd -3 0 -15 -3 0.039 $ 165,957,633.89
RND Rand Mining Ltd -3 -4 -8 -25 1.46 $ 83,038,903.06
VMC Venus Metals Cor Ltd -3 -3 -15 -26 0.17 $ 24,172,589.28
BGD Bartongoldholdings -3 0 0.17 $ 15,451,199.28
YRL Yandal Resources -3 -2 15 100 0.5 $ 50,722,176.27
MRR Minrex Resources Ltd -3 -6 -30 -36 0.016 $ 9,330,192.88
MKG Mako Gold -3 9 -3 -10 0.094 $ 35,930,710.59
RGL Riversgold -3 -11 -35 -43 0.031 $ 11,313,181.49
AGS Alliance Resources -3 11 -19 -37 0.15 $ 31,202,570.10
EMR Emerald Res NL -3 6 3 45 0.86 $ 438,087,625.95
AGG AngloGold Ashanti -4 -12 -24 -43 4.155 $ 366,643,914.15
GSM Golden State Mining -4 8 -10 -46 0.13 $ 10,757,286.54
PGD Peregrine Gold -4 -13 0.37 $ 12,431,554.15
MEU Marmota Limited -4 11 14 0 0.049 $ 46,489,617.12
AL8 Alderan Resource Ltd -4 -4 -36 -59 0.047 $ 16,076,690.99
G50 Gold50Limited -4 4 0.235 $ 11,573,140.23
FFR Firefly Resources -4 0 -15 -26 0.115 $ 35,459,045.95
NXM Nexus Minerals Ltd -4 139 245 324 0.335 $ 85,453,084.85
TCG Turaco Gold Limited -4 -12 83 57 0.11 $ 38,621,601.50
NES Nelson Resources. -4 10 -68 -38 0.044 $ 8,354,564.39
ERM Emmerson Resources -4 -2 -4 -28 0.065 $ 33,381,978.76
DGO DGO Gold Limited -4 -11 -10 -17 2.8 $ 229,530,760.20
DTR Dateline Resources -4 -4 15 15 0.086 $ 38,236,838.90
DTM Dart Mining NL -5 -5 -36 -38 0.105 $ 10,494,274.98
A1G African Gold Ltd. -5 53 -5 78 0.24 $ 23,564,000.22
DEG De Grey Mining -5 -14 -9 -25 1.01 $ 1,324,727,487.53
RED Red 5 Limited -5 11 25 -37 0.2 $ 483,053,933.66
HXG Hexagon Energy -5 10 -24 40 0.08 $ 35,681,106.16
GMN Gold Mountain Ltd -5 0 -47 -51 0.02 $ 21,402,983.40
PRS Prospech Limited -5 -11 -43 0 0.08 $ 5,475,204.42
SVL Silver Mines Limited -5 0 -13 -3 0.195 $ 251,801,036.57
AUC Ausgold Limited -5 -3 -26 5 0.039 $ 60,243,282.56
NCM Newcrest Mining -5 -7 -6 -27 23.32 $ 19,353,419,906.56
M24 Mamba Exploration -5 9 -38 0.19 $ 7,030,000.00
TAM Tanami Gold NL -5 -3 -14 16 0.071 $ 83,431,890.27
SLR Silver Lake Resource -5 -1 -18 -44 1.325 $ 1,212,895,947.33
BNR Bulletin Res Ltd -5 30 -1 13 0.07 $ 17,751,915.24
TAR Taruga Minerals -5 2 16 -20 0.052 $ 27,139,180.32
ADT Adriatic Metals -5 9 40 40 2.93 $ 548,671,851.09
VKA Viking Mines Ltd -6 -26 -60 40 0.017 $ 17,361,393.33
BMO Bastion Minerals -6 52 16 0.25 $ 17,113,565.00
CMM Capricorn Metals -6 -2 39 6 2.16 $ 799,222,789.61
VRC Volt Resources Ltd -6 22 94 136 0.033 $ 87,376,646.12
RVR Red River Resources -6 6 -31 27 0.165 $ 85,432,770.56
XAM Xanadu Mines Ltd -6 18 -55 -21 0.033 $ 39,659,689.13
CDR Codrus Minerals Ltd -6 0 0.165 $ 6,800,000.00
CAI Calidus Resources -6 18 28 -3 0.565 $ 225,959,516.06
MOH Moho Resources -6 5 -32 -44 0.062 $ 6,712,901.13
RSG Resolute Mining -6 -8 -34 -55 0.4175 $ 469,154,400.05
BC8 Black Cat Syndicate -6 -4 -22 -32 0.53 $ 72,516,022.67
KAI Kairos Minerals Ltd -6 7 7 -55 0.03 $ 48,619,068.11
CEL Challenger Exp Ltd -6 13 -5 31 0.295 $ 291,546,127.50
ADN Andromeda Metals Ltd -6 -12 -58 12 0.145 $ 356,925,046.67
IDA Indiana Resources -6 7 -28 18 0.058 $ 25,197,923.68
HRZ Horizon -7 2 2 -17 0.1075 $ 59,637,396.00
BDC Bardoc Gold Ltd -7 -11 -22 -26 0.057 $ 100,644,927.81
NST Northern Star -7 -7 -10 -35 8.91 $ 10,652,906,715.00
LCY Legacy Iron Ore -7 0 -7 180 0.014 $ 83,261,600.72
BRV Big River Gold Ltd -7 -10 -30 -42 0.28 $ 61,443,886.56
AAR Anglo Australian -7 8 -13 -51 0.084 $ 50,079,056.08
CLA Celsius Resource Ltd -7 17 -34 -13 0.027 $ 27,227,930.11
RRL Regis Resources -7 -19 -32 -60 2 $ 1,546,126,814.10
EVN Evolution Mining Ltd -7 -8 -15 -38 3.645 $ 6,891,851,557.44
MHC Manhattan Corp Ltd -7 8 -24 -73 0.013 $ 19,841,623.01
BTR Brightstar Resources -7 -10 -42 -16 0.026 $ 11,433,519.86
CDT Castle Minerals -7 0 -24 8 0.013 $ 8,790,009.82
ASO Aston Minerals Ltd -7 4 45 191 0.125 $ 104,961,717.19
WAF West African Res Ltd -7 -9 11 -9 0.935 $ 852,965,539.05
NSM Northstaw -7 0 -28 -38 0.31 $ 12,439,370.00
TBA Tombola Gold Ltd -8 -12 -24 -26 0.037 $ 24,737,535.38
GUL Gullewa Limited -8 0 13 -11 0.085 $ 17,704,698.30
MZZ Matador Mining Ltd -8 -8 13 -19 0.36 $ 77,081,038.92
RDN Raiden Resources Ltd -8 14 4 50 0.024 $ 29,967,395.90
SPQ Superior Resources -8 0 -8 50 0.012 $ 18,034,235.70
ZAG Zuleika Gold Ltd -8 -17 -43 -14 0.024 $ 10,252,334.33
BRB Breaker Res NL -8 38 38 29 0.29 $ 87,977,050.83
SVY Stavely Minerals Ltd -8 1 -37 -30 0.405 $ 108,299,002.58
SSR SSR Mining Inc. -8 -7 4 -28 20.14 $ 463,388,317.44
AZS Azure Minerals -9 5 -11 68 0.32 $ 100,501,609.33
SFM Santa Fe Minerals -9 4 -15 8 0.085 $ 6,189,597.07
BMR Ballymore Resources -9 0 0 0 0.265 $ 18,584,301.06
CHN Chalice Mining Ltd -9 8 51 173 7.17 $ 2,583,507,477.60
WGX Westgold Resources. -9 -5 -23 -32 1.6275 $ 712,540,036.32
TRN Torrens Mining -9 -30 -9 0.155 $ 10,798,065.39
KAU Kaiser Reef -9 -8 -38 -49 0.205 $ 21,895,712.57
IVR Investigator Res Ltd -9 -2 -27 22 0.061 $ 80,760,743.03
RMS Ramelius Resources -9 -11 -16 -38 1.35 $ 1,135,664,603.55
TSO Tesoro Resources Ltd -9 0 -50 -67 0.1 $ 50,100,686.90
BNZ Benzmining -9 -4 -11 0.7 $ 34,038,618.60
AWV Anova Metals Ltd -9 -9 -20 -29 0.02 $ 30,094,978.20
AQX Alice Queen Ltd -9 -29 -60 -72 0.01 $ 15,072,453.11
RMX Red Mount Min Ltd -9 11 -9 25 0.01 $ 13,180,124.72
GRL Godolphin Resources -9 -3 -23 -25 0.15 $ 13,037,247.01
RML Resolution Minerals -9 -5 -23 -61 0.02 $ 10,641,956.74
PUR Pursuit Minerals -9 -18 -35 276 0.049 $ 46,850,695.80
GSN Great Southern -9 -9 -16 -55 0.049 $ 24,777,360.58
ONX Orminexltd -9 0 39 56 0.039 $ 21,915,780.96
MEI Meteoric Resources -9 -12 -57 -40 0.029 $ 41,456,037.71
EMU EMU NL -9 7 -44 -6 0.029 $ 13,238,920.04
FFX Firefinch Ltd -9 16 170 288 0.62 $ 587,140,282.24
PRU Perseus Mining Ltd -9 -4 19 0 1.43 $ 1,828,184,659.30
DRE Drednought Resources -10 -12 90 65 0.038 $ 107,610,760.64
ANX Anax Metals Ltd -10 20 51 289 0.095 $ 34,318,021.22
CBY Canterbury Resources -10 -17 -14 -37 0.095 $ 11,418,860.35
AMI Aurelia Metals Ltd -10 -3 -14 -31 0.32 $ 407,489,566.44
SIH Sihayo Gold Limited -10 -10 -36 -59 0.009 $ 33,169,152.72
MBK Metal Bank Ltd -10 -10 -10 0 0.009 $ 11,890,683.04
GNM Great Northern -10 -10 -18 -55 0.009 $ 9,672,407.81
HMX Hammer Metals Ltd -10 -20 -27 71 0.07 $ 57,758,118.23
KZR Kalamazoo Resources -10 -4 -19 -49 0.35 $ 46,347,794.73
QML Qmines Limited -10 -13 0.305 $ 14,547,400.69
MML Medusa Mining Ltd -10 -5 -9 -9 0.74 $ 162,141,174.78
ZNC Zenith Minerals Ltd -11 -7 62 83 0.21 $ 67,676,071.47
RXL Rox Resources -11 -3 -43 -56 0.375 $ 59,890,893.32
CAZ Cazaly Resources -11 -13 -2 -15 0.041 $ 15,152,093.95
OAU Ora Gold Limited -11 -11 -27 -30 0.016 $ 13,473,523.55
PAK Pacific American Hld -11 14 -18 -31 0.016 $ 5,097,358.40
SBM St Barbara Limited -11 -14 -34 -56 1.3375 $ 963,275,630.80
MRZ Mont Royal Resources -11 24 19 -14 0.315 $ 12,309,932.38
GOR Gold Road Res Ltd -12 -1 0 -21 1.2325 $ 1,114,851,759.84
TLM Talisman Mining -12 -17 38 32 0.145 $ 27,061,115.83
DDD 3D Resources Limited -13 -13 -30 -40 0.0035 $ 15,521,488.37
OBM Ora Banda Mining Ltd -13 -2 -62 -73 0.096 $ 94,499,776.99
TMZ Thomson Res Ltd -13 -9 -29 100 0.096 $ 46,265,836.06
G88 Golden Mile Res Ltd -13 -16 -8 -25 0.047 $ 8,208,879.74
REZ Resourc & En Grp Ltd -13 43 -15 82 0.04 $ 17,698,912.35
ADV Ardiden Ltd -13 0 -32 -54 0.013 $ 27,941,604.81
DLC Delecta Limited -13 160 86 86 0.013 $ 14,924,438.17
PKO Peako Limited -13 -10 -4 -35 0.026 $ 8,019,806.63
PRX Prodigy Gold NL -14 0 -21 -40 0.038 $ 22,644,476.63
EM2 Eagle Mountain -14 13 50 177 0.72 $ 146,331,779.76
S2R S2 Resources -14 -28 -47 -64 0.09 $ 32,430,111.81
GMR Golden Rim Resources -14 -25 -33 -65 0.006 $ 19,772,098.07
OKR Okapi Resources -15 51 220 211 0.56 $ 60,142,668.34
AQI Alicanto Min Ltd -15 -15 -12 -32 0.115 $ 37,819,758.02
LM8 Lunnonmetalslimited -16 -19 0.485 $ 37,151,075.66
DCX Discovex Res Ltd -17 -17 -29 -38 0.005 $ 12,843,320.38
SBR Sabre Resources -17 25 0 -62 0.005 $ 7,573,786.42
TTM Titan Minerals -17 -2 -7 -26 0.1075 $ 133,459,036.52
MTH Mithril Resources -18 -18 -30 -70 0.014 $ 35,983,262.57
TNR Torian Resources Ltd -18 17 -52 27 0.028 $ 24,342,840.26
AYM Australia United Min -18 29 -10 125 0.009 $ 16,583,197.37
XTC Xantippe Res Ltd -20 33 0 0 0.002 $ 8,149,128.80
GTR Gti Resources -22 93 53 67 0.034 $ 28,084,943.77
CXU Cauldron Energy Ltd -25 6 -20 -11 0.033 $ 16,703,983.42
KCC Kincora Copper -26 -24 0.14 $ 10,038,994.28
AM7 Arcadia Minerals -26 5 0.195 $ 6,840,000.00
TSC Twenty Seven Co. Ltd -31 83 -15 -21 0.0055 $ 13,304,069.53
CODE COMPANY 1 WEEK RETURN % 1 MONTH RETURN % 6 MONTH RETURN % 1 YEAR RETURN % PRICE MARKET CAP

 

WEEKLY SMALL CAP STANDOUTS

KINGSGATE CONSOLIDATED (ASX:KCN)

There’s light at the end of the tunnel for this once high-flying gold producer, with a settlement in sight to restart the flagship ‘Chatree’ gold mine in Thailand.

For much of its life Kingsgate was a success story on the ASX thanks to the prolific Chatree mine, enjoying a share-price ride from $2.37 in late 2008 to $12.15 just two years later.

Since that peak it’s been a long downhill slide – especially after the Thai government ordered the closure of Chatree in December 2016.

“A successful re-start of the Chatree gold mine combined with the sustained rise in both the gold and silver prices could give Kingsgate significant optionality with the asset, and a path forward which may include continuing operations, selling the asset or listing [Thai subsidiary] Akara Resources on the Thai Stock Exchange,” the company now says.

The $250m market cap stock is up 15% year-to-date.

 

METALSTECH (ASX:MTC)

The near-term gold miner is up 140% over the past month on some strong newsflow.

Recent drilling at the 1.5moz gold, 10.9moz silver ‘Sturec’ mine has hit a potentially mineralised 37m-long zone, highlighted by a big chunk of gold at 81m depth:

This follows news that $6 billion market cap Chifeng Gold Mining would buy ~5.8m shares at 34c apiece for a total investment of $2m.

This is a pretty big deal, MTC says.

“Chifeng is widely considered to be one of the most successful precious metals investors in China owing largely to the experience of their chairman Mr Wang Jianhua who before transforming Chifeng, served as CEO of $62bn capped Zijin Mining and before that, chairman of $17bn capped Shandong Gold,” MTC chairman Russell Moran says.

MTC also reminded investors that they need to finalise their shareholdings by October 7 to receive free shares in lithium spinout Winsome Resources (ASX:WR1).

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Fe Ltd farms into advanced copper-gold asset, eyes near term production

Special Report: Fe Limited will secure the controlling interest in a mature NT copper-gold project, with the initial focus to … Read More
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Fe Limited will secure the controlling interest in a mature NT copper-gold project, with the initial focus to be an “early cashflow opportunity” at the ‘Orlando’ open pit.

Fe Limited (ASX: FEL) has inked a binding deal to acquire a 60% interest in the exploration assets of Gecko Mining Company (GMC) in the highly prospective Tennant Creek region of the Northern Territory in a cash and share deal.

FEL will also pay the first $10m of JV expenses incurred.

This package covers ~ 240 km2 in the highly prospective, high-grade Gecko – Goanna copper gold corridor which has historically produced more than 5.5 million ounces of gold @19.3 g/t and 488kt copper at 2.9%.

The Tennant Creek project is composed of three high grade copper and gold mineral resources — Orlando, Gecko and Goanna –historically defined under the JORC 2004 code.

While these numbers will have to be verified to bump it up to JORC 2012 standard, in FEL’s view there is no reason the existing historic resource estimates – totalling 122,000t copper and 145,000oz gold – would not be reliable.

Near term copper gold production

Potential for near term production exists from a cut back of the Orlando pit prior to underground development, initially at Orlando, followed by the Gecko and Goanna underground projects.

There are several options available for third party processing, the company says, which would lower initial capex costs.

Importantly, previous internal conceptual studies have shown positive economics based on lower pricing assumptions to current assumed commodity spot prices.

In the current and forecast pricing environment with commodity prices firming considerably since those studies, the company believes the Tennant Creek project offers a significant opportunity to enter the battery and precious metals space.

Big exploration upside

These initial resources are just the start.

Several advanced copper-gold targets have already been identified within the mineralised Gecko – Goanna corridor, in addition to down dip and along strike extensions to existing resources.

The figure below shows the Gecko – Goanna corridor with unmined targets against mined ore bodies:

FEL anticipates additional drilling will be required along strike and down dip to validate the existing data as well as define the extent of mineralisation prior to estimation.

FEL intends to conduct this follow up drilling after assessment and development (if applicable) of early production operations at Orlando for cash flow generation in the short term.

“Mature copper / gold assets are hard to find in today’s market given the attractive thematic for those commodities, particularly for copper with its connection into the battery metals space,” FEL exec chairman Tony Sage says.

“The work that’s been done by since on the GMC ground since the project was acquired from Evolution Mining Ltd in 2020 has identified some interesting opportunities for us to evaluate with the potential to fast-track production.

“We are pleased to identify this opportunity to diversify our commodity exposure to supplement our high-grade iron ore at Wiluna and our other NT iron ore project Yarram, which is located just over 100km from Darwin port, which presents the opportunity for it to host a low-cost operation.”


 

 

This article was developed in collaboration with Fe Ltd, a Stockhead advertiser at the time of publishing.

 

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

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Drilling kicks off and uranium analysis planned at Benmara battery metals project

Special Report: Resolution Minerals has started drilling at its Benmara battery metals project in the Northern Territory. … Read More
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Resolution Minerals has started drilling at its Benmara battery metals project in the Northern Territory.

The 2,500m RC drilling program is focused on the highest priority targets of 4km and 2km strike length derived from a VTEM survey – and new Geoscience Australia research which identified prospective rock types previously mis-mapped.

The large-scale targets are prospective for sediment hosted battery metals including copper, silver, lead, zinc, and cobalt.

Plus, the targets are on the margin of the South Nicholson Basin and Murphy Inlier on the Fish River fault which is analogous and along strike from Aeon Metal’s (ASX:AML) polymetallic Walford Creek deposits (40 million tonnes at 2% copper equivalent).

It presents the company with strong exposure to the strengthening demand for battery metals – and a tightening market for copper.

And because the targets have no prior drilling, Resolution Minerals (ASX:RML) is confident this underpins the potential to rerate on any discovery made.

 

Fully funded to ramp up exploration

Resolution is fully funded to complete the drilling with existing cash following a recent $1.7 million placement.

“We are very excited to announce drilling has started on our maiden drill program at the under-explored Benmara Battery Metals Project in the Northern Territory,” managing director Duncan Chessell said.

“The program follows up large scale targets derived from our recent VTEM geophysics survey for sediment hosted stratiform copper and other battery metals.

“With virtually no prior drilling conducted into these large-scale targets, we look forward to the results of this exciting opportunity and accelerating exploration.”

The drilling will take three weeks to complete, with assays expected in early November.

Pic: The company holds the Wollogorang and Benmara copper-cobalt-uranium projects in the NT, which includes the Stanton cobalt deposit.

Assessing uranium upside off the back of strong prices

The area surrounding Benmara is also highly prospective for uranium, with the 51.9-million-pound Westmoreland Uranium deposit nearby.

Additional uranium occurrences have also been mapped within 2km of the Benmara tenement boundaries.

And with rising uranium spot prices close to US$50/lb – a nine-year high – it puts the company in a good position to assess the uranium potential of the project.

 

Wollogorang project potential

Then there’s the company’s Wollogorang project in the McArthur Basin in the NT, which is prospective for sedimentary hosted battery metals: copper, cobalt, and hard rock uranium.

There’s proven mineralisation within the Stanton cobalt deposit of 942,000 tonnes at 0.13% cobalt, 0.06% nickel, 0.12% copper.

And a VTEM survey highlighted the sediment hosted copper potential, identifying 40 conductors.

Plus, drill targets at the Gregjo copper prospect are set to test a chargeable IP geophysical anomaly underlying copper mineralisation intersected in shallow RAB drilling of up to 4% copper.

The project is subject to a $5 million farm-in agreement with OZ Minerals (ASX:OZL) to earn 51% interest, after which the company can retain 49% by participating.

Or at Resolution’s election, OZ has the option to earn 75% interest by sole funding to a final positive decision to mine, with Resolution appointed as operator.

 

 

Resolution Minerals share price today:


This article was developed in collaboration with Fresh Equities, a Stockhead advertiser at the time of publishing.

 This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.

 

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