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Are These Mining Stocks On Your Watchlist Going Into November?

Are These On Your List Of Gold Stocks Right Now
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Top Mining Stocks To Watch

Mining stocks have been increasing in price causing more investors to be interested. The highest performers of course are companies that focus on mining and refining silver and gold. Those two mining stocks are not the only ones that are performing well though.

These companies will primarily acquire large hectares of land, and search for, mine, refine, and sell gold, silver, and other resources. The price of these resources is affected by supply, demand, and usage. Due to the state of the economy, many of these resources are reaching new record highs in the market.

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Silver has been going up recently with the increase of industrial companies continuing operations. The pandemic previously slowed all of this, but most industrial companies using silver are almost fully operational. The price of silver is down at the moment, but it is still much higher than it was at the start of the year. This is the same story with the price of gold. Now it is time to have a look at some top mining stocks that are performing well as October 2020 comes to a close.

Top Mining Stocks To Watch: Freeman Gold Corp.

The first mining stock to discuss on this list is Freeman Gold Corp. (OTC: FMANF Stock Report) (CSE: FMAN). Freeman is a gold company that has a primary focus on mineral exploration in multiple locations internationally. It actively acquires, explores, and develops different mineral properties that it holds a majority interest in. This includes the Lemhi Mine, holding more than 5000 meters of a diamond drill program that is in progress. Freeman will also search for copper and silver at its deposits. So now let’s look at the recent news and advancements that Freeman Gold Corp has made.

Recently, Freeman Gold acquired a back-in right from a fellow gold company, Yamana Gold Inc. This deal is for the Lemhi Project mineral property that it holds. It also acquired the Moon #100 and Moon #101 mining claims located in the historical region of the Lemhi Project. This has added to the big involvement it already had at this location.

Thursday, CEO Will Randall gave an exploration update on the Lemhi Gold Project. “Our Phase 1 drill campaign is successfully underway and is confirming our understanding of the mineralization and geology of the Lemhi Gold Project. The mineralization is generally flat lying within Proterozoic metasediments. Quartz veining, silicification, brecciation and faulting dominate the mineralized zones and are oxidized from surface. Results have so far matched historical logs closely. Multiple flat-lying, high-grade zones, often containing visible gold, are stacked and may constitute a bulk tonnage target.”

Top Mining Stocks To Watch: Teck Resources Limited

Next up on this list of the top mining stocks to watch is Teck Resources Limited (TECK Stock Report) due to its recent momentum in the market. Teck Resources Limited is a mining company with a focus on research, exploration, development, and production of natural resources. It operates in the Asia Pacific, the Americas, and Europe. Its different segments include Steelmaking Coal, Copper, Zinc, and Energy.

It is in these segments which it produces coal, copper, zinc, bitumen, gold, silver, and plenty more resources. The company owns an interest in Frontier oil sands projects, and exploration and development projects. These many projects are located in Alberta, Australia, Chile, Ireland, Mexico, Peru, Turkey, and the United States. Let’s see what has been going on with this mining stock in recent times.

On October 26th, Teck Resources Limited released its unaudited third quarter results for 2020. In these results it reported profit attributable to shareholders of $130 million or $0.24 a share. Due to the pandemic, it has reduced operating costs by $270 million and capital cost reductions of $550 million happened as well.

The president and CEO of the company, Don Lindsay said, “Our financial performance recovered strongly from a second-quarter that was significantly negatively impacted by COVID-19, and despite the decline in realized steelmaking coal prices, we posted gains in profitability and operating cash flows.”

This shows that the company is making great strides to improve its financials and revenue numbers as the year continues. In the last 6 months, TECK stock price is up 37.82% as of October 28th.

gold stocks to watch Teck Resources (TECK stock chart)

Top Mining Stocks To Watch: Southern Copper Corporation

Southern Copper Corporation (SCCO Stock Report) has a primary focus on exploration, mining, smelting, and refining copper and other minerals. It operated mines in Peru, Mexico, Ecuador, Argentina, and Chile. Its main activity is mining, and milling copper ore. The company has more than 290,000 hectares of land across all of its properties. Let’s look at Southern Copper Corporation’s recent news and advancements.

[Read More] 3 Mining Stocks To Watch Next Week; 1 Up Over 280% In 2020

Southern Copper Corporation released its third-quarter results on October 27th. The company’s copper output dropped 1.4% due to the pandemic and closures as a result. Its silver production fell by 1.3% as well. It claims it does not expect any significant delays despite all of the problems caused by the pandemic in the mining industry.

Its mining claims are still expected to produce a lot of minerals in the future. SCCO stock price is up more than 24.39% in 2020 so far as of October 28th. In the last month as of the same date, SCCO stock is up 15.9% or so.

gold stocks to watch Southern Copper Corporation (SCCO stock chart)

Top Mining Stocks To Watch: Maple Gold Mines Ltd.

The final company on this list of the top mining stocks to watch is Maple Gold Mines Ltd. (MGMLF Stock Report). Maple Gold Mines is a mining company that primarily focuses on gold exploration. It holds an interest in the Douay gold project that has 666 mineral claims over 355 square kilometers. This project is located in Canada. So now let’s check out the recent news that has come from Maple Gold Mines Ltd. and why it is trending.

Back in July, the company closed a $4,000,000 first tranche of non brokered financing. Then in September, it provided an exploration update. It announced here that its assay results in all of its zones will be used to design upcoming drill campaigns. This is to uncover “higher grade targets and to expand and upgrade the known resources at Douay” according to Matthew Hornor, the President and CEO of Maple Gold Mines Ltd.

From January to March 2020, it completed a 4370 meter drill campaign in which 11/14 holes drilled intersected higher than deposit average grade gold mineralization. Now it has begun its Fall Discovery exploration program, and begun initial drilling to test its northeast IP target.

gold stocks to watch Maple Gold Mines Ltd. (MGMLF stock chart)
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Precious Metals

Aya Gold & Silver Produces 338,624 Silver Ounces In Q3 2021, Increases 2021 Guidance To 1.55 Million Ounces

Aya Gold & Silver Inc. (TSX: AYA) shared today its quarterly production results for Q3 2021 at the Zgrounder Silver
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Aya Gold & Silver Inc. (TSX: AYA) shared today its quarterly production results for Q3 2021 at the Zgrounder Silver mine in Morocco, recording silver production of 338,624 ounces. This is a decrease from Q2 2021’s silver production of 439,149 ounces but an increase from Q3 2020’s silver production of 113,655 ounces.

The quarterly silver production had an average grade of 242 g/t silver, compared to last quarter’s 297 g/t silver and last year’s 217 g/t silver.

“The better than anticipated operational performance and execution gives us the confidence to increase Zgounder’s production guidance by 29% to 1.55 million ounces for the year,” said Aya Gold & Silver CEO Benoit La Salle.

The mining company also noted a dip in the silver recovery rate, reaching 81% this quarter from 82% last quarter. The firm said this is primarily due to due to lower freshwater intake and excess evaporation in the tailings dam during the summer months. The plant availabilities for the flotation and cyanidation plants are at 87% and 89% this quarter, respectively.

Aya Gold & Silver Inc. last traded at $9.12 on the TSX.

Information for this briefing was found via Sedar and the companies mentioned. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

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Precious Metals

Endeavour Silver Beats BMO’s Production Estimates By 30%

Last week, Endeavour Silver Corp. (TSX: EDR) announced their third quarter production highlights. For the third quarter, ending September 30th,
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Last week, Endeavour Silver Corp. (TSX: EDR) announced their third quarter production highlights. For the third quarter, ending September 30th, 2021, the company produced 1,305,399 silver ounces and 10,541 gold ounces, up 39% and 3% year over year respectively. Third quarter 2021 throughput also increased by 8% to 222,461 tonnes.

The company also increased management production guidance for 2021 to 7.7 to 8.0 million ounces of silver equivalents due to higher than expected grades and tonnage milled, saying that “Silver equivalent production at each mine is on track to meet or exceed 2021 production plans.”

Endeavour Silver has 7 analysts covering the stock with an average 12-month price target of C$7.05, or a 33% upside. Out of the 7 analysts, 2 have buy ratings while the other 5 have hold ratings. The street high sits at C$8.78 from H.C Wainwright, while the lowest comes in at C$5.25.

BMO Capital Markets in their note reiterated their C$5.25 12-month price target and Market Perform rating on Endeavor Silver, saying that the third quarter showed solid production numbers out of the Bolanitos and Guanacevi mines.

For the quarter, BMO forecasted silver production would come in at 1 million ounces. Both gold and silver production was beaten by roughly 30%, thanks to higher than expected tonnage, and grades at Guanacevi.

BMO notes that the company selling 699 thousand ounces of silver, is “well below” their production which is forecasted to impact third quarter sales, but BMO believes this will help the company’s fourth quarter results.

Below you can see BMO’s updated estimates.

Information for this briefing was found via Sedar and Refinitiv. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.

The post Endeavour Silver Beats BMO’s Production Estimates By 30% appeared first on the deep dive.

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Energy & Critical Metals

Victory Resources Commits to Lithium Exploration While China Continues With Its Lithium Buying Spree

The mining industry has been headlined by several major deals involving lithium firms over the past week.
This should be of no surprise as the…

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The mining industry has been headlined by several major deals involving lithium firms over the past week.

This should be of no surprise as the battery metal has been trending up since the beginning of the year. Following a second rally at the onset of the third quarter, lithium prices have shot up to their highest since 2018.

In China, the #1 electric vehicle market globally, lithium carbonate prices have shot up nearly five-fold over the past year and are trading near record highs.

Price of the key battery ingredient held around 165,000 yuan (~$25,000) per tonne in October, not far from the all-time high of 177,000 hit in late September, due to tight supply and stable battery demand.

Year-to-date, lithium prices are up a stunning 160%, based on the price index (including lithium carbonate and hydroxide) tracked by Benchmark Mineral Intelligence (BMI), the world’s leading battery supply chain researcher and price reporting agency.

Source: Benchmark Mineral Intelligence

The rally comes amid a global push for less polluting energy sources, which has automakers and battery manufacturers racing to secure supplies of so-called ‘future-facing commodities’ such as lithium.

China’s Lithium Buy Spree

China in particular has been actively and aggressively pursuing deals to secure battery materials as it looks to establish a dominant position in the global EV supply chain.

The nation’s top battery maker, Contemporary Amperex Technology Co. (CATL), recently outbid Ganfeng Lithium to acquire Canadian miner Millennial Lithium Corp., which holds lithium assets in Argentina.

As China’s largest lithium compounds producer and the world’s biggest lithium company by market value, Ganfeng has gone on an acquisition spree over the years, having invested in several lithium projects in Argentina (Caucharí-Olaroz, Mariana), Australia and China.

In August, Ganfeng proceeded with a takeover of Mexico-focused lithium developer Bacanora, and in the same month, inked a four-year supply deal with Australia’s Core Lithium for 300,000 tonnes of spodumene concentrate, a partly processed form of the battery material.

“We have and will continue to see the Chinese looking to buy lithium,” Matthew Hind, head of global mining at Bank of Nova Scotia’s investment banking division, said in a recent Reuters report, adding that “there will also be small-cap consolidation as well as EV companies buying stakes in mines with strategic partners in order to secure supply.”

It didn’t take long for Hind’s prediction to come true either.

In somewhat of a surprise move, China’s Zijin Mining Group Co., known for its status as a major gold and copper producer, announced last week its first foray into the lithium sector with a $770 million purchase of Neo Lithium Corp., outbidding many other Chinese bidders.

Neo Lithium’s main asset is a high-grade brine operation in Argentina, with CATL already being one of its backers.

“As Zijin is a gold-copper producer and Neo Lithium is still some years from commercial production, this deal exemplifies how hot the market is for independent lithium assets, and how eager the Chinese are,” Chris Berry, president of House Mountain Partners, a Washington-based industry consultancy, told Bloomberg.

In total, Bloomberg Intelligence analyst Christopher Perrella estimates five companies essentially control the $4 billion global lithium market, two of which are Chinese.

Battery Metals Race

The race to secure battery materials is taking place outside of China as well.

Rock Tech Lithium Inc., which is backed by venture capitalist Peter Thiel, plans to locate its first battery metals smelter within a 90-minute drive of Tesla’s gigafactory under construction outside Berlin, in a bet that Germany will take the lead in Europe’s electric vehicle transition.

South Korea’s LG Energy Solution, one of the biggest EV battery makers globally, recently agreed to buy as much as 100,000 tonnes of lithium a year as part of a six-year “take-or-pay” deal with Vancouver-based Sigma Lithium Corp., which controls a hard rock lithium deposit in Brazil.

In Australia, the world’s biggest lithium exporter, Prime Minister Scott Morrison plans to establish a A$2 billion ($1.5 billion) loan facility for the development of critical minerals projects, with the mining powerhouse aiming to win a bigger market share for materials used in electric cars.

In short, demand for lithium is accelerating around the world, with sales of electric vehicles growing at a faster pace than previously thought.

Source: Reuters

According to SQM, one of the top producers of the battery ingredient, EV demand surged more than 150% in the first half of 2021 from a year ago. As a result, the Santiago-based firm estimates that global lithium demand could increase more than 40% this year, translating into a sales volume of more than 95,000 tonnes, up by 10,000 tonnes from its previous forecast.

Data from battery consultancy Rho Motion shows global EV sales were up 150% in the seven months to July to over 3 million units compared to the same period in 2020, with about 1.3 million sold in China alone. For 2021, Rho Motion expects sales to reach as high as 5.8 million.

Longer-term, BloombergNEF estimates that the green energy transition will result in a five-fold increase in global lithium consumption by the end of this decade.

Source: BloombergNEF

In light of a global race for battery minerals, a recent World Economic Forum report forecasts that the global market for lithium-ion batteries will reach $300 billion annually by 2030.

Supply Crisis

The EV boom has naturally depleted stocks of battery materials such as lithium, causing the supply to tighten in major markets.

In China, lithium carbonate output in August rose 19% year-on-year to almost 20,000 tonnes, according to state-backed research house Antaike, but this output would be easily outstripped by demand from the EV sector.

BMI estimates that demand for lithium is expected to jump 26.1%, or about 100,000 tonnes LCE, to a total of 450,000 tonnes this year, more than enough to flip the entire market into a deficit.

Prices are already climbing across the supply chain. Pilbara Minerals Ltd.’s second auction of spodumene concentrate attracted a top bid of $2,240/tonne for a cargo of 8,000 tonnes, up from $1,250 in its inaugural tender in July.

China’s lithium carbonate has almost doubled in just two months, and lithium hydroxide is up more than 70% in the period, according to Asian Metal Inc. data.

Exacerbating the lithium supply crunch are the high production costs arising from the global energy crisis.

Ganfeng has already told customers that it is raising prices for lithium metal products by 100,000 yuan ($15,500) per tonne for the next month, partly because of China’s power supply shortages.

However, even before the reduced industrial output, BMI analyst George Miller had previously forecast an LCE deficit of 25,000 tonnes this year, with acute deficits expected in 2022 and beyond.

Given China represents more than 60% of the world’s processing capacity, the actual supply deficit is likely to exceed estimates by the end of this year.

“Unless we see significant and imminent investment into large, commercially viable lithium deposits, these shortages will extend out to the end of the decade,” Miller added.

A lengthy slump since 2018’s peak meant investment in the sector slowed, and the pandemic has since exacerbated global supply constraints.

“The financing for lithium projects is still too little, too late,” Cameron Perks, a Melbourne-based analyst at BMI, said in a Bloomberg report. “The market deficit is already occurring.”

Source: BMI

“As prices increase now, there will be unknown yet-to-be-announced projects and expansions that will help to increase supply to meet demand. That is almost a certainty. What is not certain is just how many unknown projects there are out there,” Perks added.

“There’s also a possibility that not enough lithium can be mined, then it could risk a slower EV roll-out.”

All signs are pointing towards a sustained market shortage for the battery metal in the coming years. China, seeking to maintain a dominant position in the EV industry, has perhaps triggered a flurry of deals and new investments in the lithium sector, which could soon be followed by many others.

Smokey Lithium

Sooner or later, the big players in the EV battery space (i.e. China) will turn to projects outside South America’s Lithium Triangle, as political factors are most likely to influence mining decisions in these countries in the future.

One place we’ve previously discussed in detail is the Clayton Valley of Nevada, whose lithium deposits contain favorable characteristics such as arid climate, closed basin containing a playa or salar, tectonically driven subsidence, associated igneous or geothermal activity, and suitable lithium source rocks.

The Clayton Valley is also where Albemarle’s Silver Peak mine, the only lithium-producing site in North America, is found.

Leveraging Nevada’s favorable geology and rich mining history, several companies have begun exploring its claystones and brines over recent years, with the goal of developing the next lithium source for the EV battery supply chain.

Among those lithium explorers in Nevada, we are particularly intrigued by Victory Resources Corporation (CSE: VR) (FWB: VR61) (OTC: VRCFF), which is anticipating further advancement on its Smokey lithium project in the near term to benefit from the EV revolution.

Victory’s Smokey lithium project is located about 35 km west of Tonopah, Nevada, within the famous Big Smokey Valley that traverses three counties across the state.

Esmeralda County — where the project is situated — is one of the world’s most prolific regions for lithium clay deposits (Noram, Cypress, American Lithium, Spearmint, Enertopia, Jindalee). These deposits all have proven large tonnages with acceptable lithium grades in excess of 900 ppm.

The Smokey lithium property lies approximately 35 km north of Clayton Valley, adjacent to and possibly on trend with the Clayton North project (930 ppm Li) held by Australia’s Jindalee Resources Ltd.

Farther away, Noram’s Zeus lithium project (900 ppm Li) is about 25 km to the southeast, while 35 km to the northeast is American Lithium’s flagship Tonopah Lithium Claims property (1,000 ppm Li).

Smokey clay lithium project and other properties in the region

In this prolific lithium region hosting, Victory’s Smokey project covers a total of 350 claims covering 7,000 acres of land with excellent access and relatively flat ground.

The property shares similar geologic settings to the Clayton Valley and the many exploration projects nearby. It is located in the Walker Lane trans tensional corridor on the western margin of the Basin and Range province.

The property’s geology consists of Miocene – Pliocene tuff deposits, claystones and siliciclastic beds (Esmeralda Formation) with overlying younger alluvium deposits and desert pavement formation. The claystone, which can carry high lithium concentrations, is observed as highly weathered light grey to tan mounds of unconsolidated clay from 0.10-1.50m thick.

The flat-lying nature of the claystones, together with the frequent occurrence of transported cover, requires drilling to fully validate and assess the Smokey project’s lithium potential.

Based on strong results from this summer’s geological sampling, which indicated several areas of high lithium values (up to 1,500 ppm Li), Victory is now fast-racking a drill permit application for the Smokey lithium property.


Victory’s progress at its Smokey project comes just as when lithium is in the midst of another record-setting rally.

The BMI lithium index has already shot up by 160% year to date, with prices averaging $10,800 during the first half of 2021 versus over $17,000 in 2018.

Strong demand for lithium-ion batteries for EVs and other applications is expected to put a strain on the global supply of battery raw materials, which will likely invoke a string of new investments.

China’s biggest battery makers and miners are already gobbling up lithium assets left, center and right, with more deals still left to be done. Lithium has gotten so hot in China that even the gold miners now want to join in on the act.

With the global race to secure minerals in full throttle, there will be calls made to companies holding lithium projects within the most prolific regions of the world.

In the Clayton Valley of Nevada, best known for its affluence of lithium clay deposits, Victory Resources, with a strategic focus on serving the EV sector, is gearing up for drilling at its highly prospective Smokey lithium property, and just one discovery hole from that could be a game-changer for the company.

Seeing many others have previously found success in this area, we expect Victory to deliver more exciting news later this year.

Victory Resources Corp.
Cdn$0.055, 2021.10.12
Shares Outstanding 89.9m
Market cap Cdn$5.4m
VR website

Richard (Rick) Mills
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