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Best Mining Penny Stocks To Watch This Month

Which mining penny stocks will make your watchlist right now? Mining penny…
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Which mining penny stocks will make your watchlist right now?

Mining penny stocks will outperform the market for a variety of reasons. Much of this was visible in the previous year when the value of gold and silver stocks surged. It all started with the pandemic at the start of 2020. The dollar’s value fell, causing the stock prices of several mining corporations to climb. This is due to the fact that when the economy was bad, investors turned to physical assets such as gold. There is still a lot of market instability affecting mining penny stocks in 2021.

Mining companies have underperformed in 2021 compared to 2020. Having said that, there have been many assets that have increased in value this year. Last year’s mining sector leaders were gold stocks, silver stocks, and lithium stocks. Copper, steel, and iron ore are among the mining sectors that have rapidly increased in value over the last year and a half.

Many mining companies are currently releasing their fiscal year 2021 third-quarter financial reports. This can frequently suggest the direction in which a company is heading. Examining worldwide news, industry news, and other company news can also help you decide when it’s time to invest. For example, if a resource is scarce and demand increases, the price of that substance may rise. Let’s take a look at three mining penny stocks that are currently performing well in the market.

Top Mining Penny Stocks To Watch

Yamana Gold Inc. (NYSE: AUY)

Yamana Gold Inc. is a mining business that produces precious metals. The firm mines gold and silver in a variety of countries. It also has assets under development, properties under exploration, and land positions all around the world. Yamana has activities in Canada, Brazil, Chile, and Argentina, among other places.

The corporation revealed its third-quarter results for 2021 on October 28th. Yamana stated that it is still on track to meet its target of 1,000,000 gold equivalent ounces by the end of 2021. Yamana reported $27 million in net earnings for the quarter, or $0.03 per basic and diluted share. Mine operating earnings increased by 8% year on year to $154 million.

Yamana is also working on a number of new projects at the present. One of these is Yamana’s Wasamac project, for which he offered a good report. All clearances, certificates of permission, and licenses are expected to be obtained by the third quarter of 2024. The construction and commissioning of the process plant is expected to take roughly 2.5 years, with an underground crusher and conveyor system scheduled to be operational six months thereafter. Will you add AUY to your list of mining penny stocks to watch?

Denison Mines Corp. (NYSE: DNN)

Denison Mines Corp. is a mining penny stock that is doing well right now. This is a mining corporation that explores for uranium at its many projects. Denison Mines Corp. holds 95 percent of the Wheeler uranium project in northern Saskatchewan’s Athabasca Basin. This is a mining stock that we’ve discussed extensively on this site in the past due to its strong market upward patterns.

The business announced a successful 2021 mining test on November 3rd, demonstrating the possibility of its proprietary Surface Access Borehole Resource Extraction, also known as “SABRE.” SABRE was used in a five-year test mining program at its McClean Lake location. The test’s last stage was just completed, with four mining cavities successfully excavated, yielding 1,500 tons of high-value ores.

“With this test result, SABRE has proved that it is capable of mining high-grade uranium ore in the Athabasca Basin region,” stated David Cates, CEO and President of Denison. “As the MLJV’s operator, Orano has tirelessly progressed the required R&D activities as part of a long-term strategy for establishing a mining technology that might benefit our joint venture.” Will you be keeping an eye on DNN stock for your watchlist right now?

IAMGOLD Corporation (NYSE: IAG)

The gold stock IAMGOLD Corporation has recently outperformed the market. IAG stock is up more than 6.32 percent in the market on November 5th. This corporation identifies, develops, and operates gold mining assets throughout the world. The majority of these mining assets are found in the Americas and West Africa. IAMGOLD Corporation is involved in a number of mines, including Rosebel, Essakane, and Westwood.

The company released its third-quarter results for 2021 on November 3rd. In 2021, IAMGOLD reported attributable production of 448,000 ounces. In the same period, the company’s mine-site free cash flow was $121.6 million, and its adjusted EBITDA was $265.7 million. IAMGOLD also reported $1.2 billion in total available liquidity, including $728.3 million in cash and cash equivalents.

CEO and President of IAMGOLD, Gordon Stothart said, “The third quarter of 2021 saw improvement in our operating performance supported by the continued strong results at Essakane. Rosebel performed in line with the revised plan. Construction activities at Côté continue to proceed well, reaching 36% project completion at quarter-end. First steel installation of the plant building commenced in mid-October, and the project remains on track for commercial production in the second half of 2023.” Noting this new info, will IAG be on your mining penny stock watchlist?

Best Mining Penny Stocks To Buy Right Now?

Deciding which mining penny stocks you should buy can be a difficult choice. That is why it is important to conduct proper research when investing in the stock market. It will be interesting to see where mining penny stocks go based on the current market volatility. For now, which mining penny stocks will be on your list?

The post Best Mining Penny Stocks To Watch This Month appeared first on Gold Stocks to Buy, Picks, News and Information | GoldStocks.com.








iamgold corporation

Author: Adam Lawrence

Precious Metals

New Found Gold Neighbor Canstar Resources Might Be Sitting on Canada’s Next Big Gold Discovery

Canstar Resources (TSXV: ROX) might have discovered the biggest gold deposit in Canada’s hottest mining province, Newfoundland…

Canstar Resources (TSXV: ROX) might have discovered the biggest gold deposit in Canada’s hottest mining province, Newfoundland. The small-cap junior gold miner is currently drilling in a region that turns out to sit alongside the same tectonic boundary as another recently discovered billion-dollar gold project.

While many new gold discoveries have emerged in recent years, few have remained surprisingly unnoticed by the broader mining community. One of which is the flagship gold project of Canstar Resources, Golden Baie. In some samples, early testing has seen gold concentrations as staggeringly high as 4,485 g/t.

Despite this, Canstar Resources is still operating under the radar at the moment. However, given the other billion-dollar gold projects located nearby in the province, it’s only a matter of time before it starts gaining a lot more attention from the mining community.

Is Newfoundland the New ‘El Dorado’ for Canadian Gold Miners?

In recent years, Newfoundland has emerged as one of the most exciting areas for gold discoveries. Millions of years of tectonic activity created geological conditions ripe for high-grade gold mineralization. 

However, the area has remained largely unexplored. Whether due to a lack of technology or technical knowledge, past prospectors dismissed what would later turn out to be multiple, massive gold deposits all along the province.

There are a few notable examples, but one of the most recent was the Queensway project, a 1,510km area owned by New Found Gold. This was a company that went it went public back in September 2020 at just $1.4 per share. 

Thanks to the excitement surrounding the Queensway project, shares quickly surged to over $10 earlier this year, with the company boasting a $1.2 billion valuation.

However, by the time most investors heard about New Found Gold and its gold project, shares had already shot up substantially. For those who felt like they missed the train on Newfound Gold, the good news is that history might be repeating itself, but this time with Canstar Resources.

New Found’s Queensway project and Canstar’s Golden Baie are frequently compared side by side. Not only are both just a couple of hours drive away from each other, but both happen to be located on the same tectonic boundary. In layman’s terms, multiple deposits are likelier to be found on a tectonic boundary due to how plates shift over thousands and millions of years.

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So far, Golden Baie is currently at an earlier stage of exploration than Queensway, which does mean it’s still a bit more of a speculative risk. However, analysis on the Golden Baie project shows that, based on surface-level gold concentrations, there’s likely a deep-seated gold system with multiple big deposits ripe for the picking. 

What’s more, these early results have shown similar grades of gold as the Queensway project, which single-handedly transformed New Found Gold from a penny stock into a billion-dollar gold miner.

How Big is Canstar Resource’s Golden Baie Discovery?

At 622 square km, Golden Baie isn’t the largest project by surface area. However, over 95% of the total site remains completely unexplored.

Initial exploration attempts took place in the earlier 1980s and continued for almost 27 years, with geologists finding little at the time besides small gold deposits. It’s a common story with most Newfoundland gold discoveries, as many were initially passed over before their true potential was rediscovered.

It was only until 2019 that prospectors realized Golden Baie was likely sitting on top of a tremendous gold deposit. Some recent samples have shown incredibly high gold grades, including some rock pulp samples having as much as 4,485 g/t of gold. But even more down-to-earth results are impressive, such as over 289.3 g/t of gold at the Skidder site. 

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As for how large the Golden Baie gold deposit could be, that’s still to be determined. However, when you look at other nearby gold discoveries, even the most conservative estimates could make Canstar a fortungi

The smallest of nearby discoveries is owned by Anaconda Mining, whose Point Rousse project, located on the northern end of Newfoundland, contains over 119,000 ounces of gold. Marathon Gold has a closer deposit called the Valentine Lake project. These reserves are estimated at being over 3.1 million ounces of gold, the high end of what’s been found in Newfoundland.

Two other big projects include Matador Mining’s Cape Ray project, with 526,000 ounces of gold, and First Mining Gold‘s Hope brook project, with around 844,000 ounces. 

Given that all of these discoveries are within a couple of hundred kilometers of the Golden Baie project, we think the odds are that we’ll see similar results when further drilling data comes in. A rough estimate of between 500,000 and a million ounces of gold seems realistic, although it’s possible Golden Baie is even larger than that.

To put that into perspective, one million ounces of gold, at current spot prices, is just under $1.8 billion in mineable reserves. In contrast, Canstar Resources is worth just $25.3 million at the moment. 

Just like how the Queensway project catapulted Newfound Gold into a billion-dollar stock, so could Golden Baie transform Canstar Resources into a billion-dollar mining company, or around 40 times higher than its current market capitalization.

Some of the world’s top mining analysts agree. Billionaire mining investor Eric Sprott, one of Newfound Gold’s biggest backers, also owns a 32% stake in Canstar Resources. While not every junior mining pick from Sprott turns into a billion-dollar success story, the odds are looking pretty good that Canstar might just be one of them.

What Should Investors Expect from Canstar Resources in 2022?

Given how undervalued and ignored Canstar Resources is at the moment, it’s a prime candidate for investors looking for a mining stock with exponential growth potential. The key, however, is to buy in before the market catches wind of it. 

In other words, early investors looking for triple-digit gains should stock up on shares before further news about Golden Baie gets announced. The company is in the process of raising an extra $6 million to finance further drilling after releasing early drilling results in early November. Results were largely encouraging, suggesting that further, potentially larger gold deposits remain to be discovered. 

Canstar has been focusing primarily on an 8km strike length, which is still just a small portion of the expected 95km gold corridor that’s at the heart of the Golden Baie property. 

It’s also worth noting that, besides its flagship gold project, Canstar Resources also has a couple of other operations. This includes the Buchans-Mary March project, another Newfoundland site, which has historically ranked as some of the world’s highest grade volcanogenic massive sulfide (VMS) deposits. VMS deposits are one of the richest sources of copper, lead, and zinc, but the Buchans-Mary March project has found gold and silver as well as those other metals.

While Canstar’s other projects remain promising, its main catalyst for future price growth is still big gold project. Investors should expect more drilling results in 2022, news that could quickly transform Canstar into a nine-or-ten-figure valuation for lucky investors.

 

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Author: NXT_mine

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Energy & Critical Metals

NEO Lithium’s Closest Neighbor Gets Ready to Drill

If you believe in the old adage, “the best place to find a deposit is near an existing one,” you should consider Portofino Resources (TSX-V: POR)…

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When Neo Lithium started early stage exploration they recovered surface lithium grades of 190 mg/L compared to 373 mg/L for Portofino Resources adjacent Yergo property.

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If you believe in the old adage, “the best place to find a deposit is near an existing one,” you should consider Portofino Resources (TSX-V: POR). This Vancouver-based company holds an option to acquire a 100% interest in the Yergo lithium brine project located in Argentina, in the heart of the Lithium Triangle, along with the Allison Lake North lithium and rare elements property. Portofino also owns five gold projects in Canada, and is overseen by an exceptional management team with deep experience in the resources industry.

One of the reasons that all eyes are on the Yergo project is the growing demand for lithium to support the green revolution. As one of the world’s lightest metals, lithium is playing one of the largest roles in our green and clean future. Demand is predicted to increase seven times over the next 10 years, reaching a total global demand of 1.79 million metric tons. Furthermore, for every 1% surge in battery electric vehicle (BEV) market penetration, the world’s need for lithium will rise by an estimated 70,000 tonnes per year. 

This has industry experts asking – where will the supply come from?

Sharing a similar geological history with a world class asset

Argentina, Chile, and Bolivia comprise what is known as the Lithium Triangle, and these countries host a whopping 75% of the world’s lithium resources. Portofino’s Yergo project is a salar located approximately 15 kilometres southeast of Neo Lithium’s 3Q project – one of the largest and highest-grade lithium brine deposits in the world. It was initially discovered in late 2015 and took only five years to advance to the construction phase. In October of this year, Neo Lithium announced it had received an all cash, takeover offer of $960 million for all its outstanding equity from Zijin Mining.