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Precious Metals

New Found Gold Uses Sprott Investment to Double Queensway Drill Program To 400,000 Metres

New Found Gold (TSXV: NFG) is evidently putting that fresh capital that was infused by Eric Sprott to work. The
The post New Found Gold Doubles Queensway…

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This article was originally published by The Deep Dive

New Found Gold (TSXV: NFG) is evidently putting that fresh capital that was infused by Eric Sprott to work. The company this morning had a major announcement in that it has doubled the size of its ongoing exploration program at its Queensway project in Newfoundland.

Originally pegged at 200,000 metres, the continued success of the current program has lead the company to double the size of the project to a total of 400,000 metres. 102,000 metres of drilling has reportedly been completed to date, of a which roughly a quarter is still pending assay results.

Also increasing will be the amount of drill rigs on site. The nine in operation currently will see an increase to a total of 14 rigs. The first two additional rigs are anticipated to be added by the end of the year, with a further two added in the first quarter of 2022, increasing core production to 4,700 metres per week.

Finally, the full funded drill program will also see a 25,000 square foot core processing facility constructed, referred to as a giga-shack. Permits for the building have been included with the expanded drill permit application.

New Found Gold last traded at $9.99 on the YSX Venture.


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.

The post New Found Gold Doubles Queensway Drill Program To 400,000 Metres appeared first on the deep dive.

Author: Jay Lutz

Precious Metals

Changes to Price Discovery If the Futures Market Fails

The U.S. dollar and precious metals futures have one thing in common. The value of the greenback and a contract for future delivery of metal are completely…

The U.S. dollar and precious metals futures have one thing in common. The value of the greenback and a contract for future delivery of metal are completely dependent on confidence. When, or if, that disappears, neither will be worth the paper they aren’t printed on.

The futures market is where gold and silver prices are set. “Managed” might be a better word. People who recognize price discovery is broken and corrupted often wonder what it will look like should the current system fail.

It is important to acknowledge upfront there is no telling if the futures markets will end in shambles, or end at all. It is possible for regulators and bankers to find religion and implement reforms.

And it is possible for these markets to persist without reforms. There is, after all, ample evidence of price rigging and other crooked behavior in the public record. Yet plenty of participants remain willing to trade there.

Bullish speculators are still buying contracts based on two key assumptions. They believe they have a fair chance at success versus those who are short the market, and they trust there is metal available if they should stand for delivery.

If buyers lose trust and start leaving in droves, the paper derivative price-setting mechanism will lose its relevance.

What happens to the prices of physical precious metals may be altogether different. If a collapse in futures (paper metal) is accompanied by a surge in demand for actual coins, rounds, and bars, bullion prices could skyrocket.

The premium investors pay to buy a 1,000-oz bar of silver, for example, may determine the spot price of silver. In other words, if the futures market price used as the basis for valuing bullion products becomes irrelevant, the remaining component – the premium – could become 100% of an item’s price.

Perhaps the price of actual exchange-sized bars will replace the futures price as the new basis.

The main lesson for bullion investors today is to remember that electronic futures prices are not a reliable signal for what is happening in the physical markets. A decline in gold or silver prices, as reported by CNBC, might just be very good news for your investment in physical bullion.

      



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Copaur Minerals Looks To Acquire New Placer Dome Gold In An All-Stock Deal

Copaur Minerals Inc. (TSXV: CPAU) announced on Friday evening a binding letter agreement stipulating its planned acquisition of all the
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Copaur Minerals Inc. (TSXV: CPAU) announced on Friday evening a binding letter agreement stipulating its planned acquisition of all the issued and outstanding common shares of New Placer Dome Gold Corp. (TSXV: NGLD). The acquisition is expected to be settled in an all-stock deal.

The combination of the British Columbia-focused Copaur Minerals and Arizona-focused New Placer Dome Gold is said to “create a leading gold-copper exploration and development company with a portfolio of assets in two of North America’s foremost mining districts.”

Under the terms of the agreement, each New Placer Dome Gold share held will be exchanged for 0.1182 shares of Copaur Minerals, the ratio being a 55% premium on the 20-day average price of each company as of November 30, 2021.

The firm reported that after the transaction, New Placer Dome Gold will become a wholly-owned subsidiary representing 47% equity in Copaur Minerals and will be delisted from the TSX Venture Exchange. New Placer Dome Gold is also being proposed to get a minimum of two seats on the Copaur Minerals board, subject to the latter’s approval.

Currently, New Placer Dome Gold has approximately 170.4 million shares while Copaur Minerals has roughly 23.0 million shares.

In their latest quarterly financials dated September 30, 2020, Copaur Minerals recorded total assets worth $5.87 million and a net loss of $0.07 million while New Placer Dome Gold reported a total of $14.59 million in assets and a net loss of $0.08 million.

A concurrent financing by the two companies is in the pipeline as a condition to the transaction, with plans to raise gross proceeds of up to $15.0 million. Copaur Minerals will also lend New Placer Dome Gold $0.8 million in debt to fund the latter’s exploration work on the Bolo property. The loan is convertible to company units at $0.08 per unit at the sole discretion of Copaur Minerals.

The proposed transaction is expected to close in March 2022, subject to the approval of the shareholders of New Placer Dome Gold and customary regulatory approvals and closing conditions.

Copaur Minerals last traded at $1.16 while New Placer Dome Gold last traded at $0.085 on the TSX Venture. Trading for both shares has been halted since the announcement of the acquisition.


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.

The post Copaur Minerals Looks To Acquire New Placer Dome Gold In An All-Stock Deal appeared first on the deep dive.




Author: ER Velasco

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Precious Metals

Top Silver Stocks To Watch In December

3 Silver Stocks For Your Watchlist…

3 Silver Stocks For Your Potential Watchlist

In recent times, the market for silver stocks has been fairly interesting to follow. Throughout the last year and a half, the price of silver assets has skyrocketed due to the pandemic. Many silver assets gained more in percentage terms than gold stocks. This drew a large number of new investors to the metal who had previously disregarded it.

The pandemic and market uncertainties have produced a level of volatility that has prompted some investors to reinvest in silver stocks. Silver stocks were also boosted as mainstream media reported that Reddit traders were pushing the metal’s price higher at the start of 2021. This drew a lot more attention to silver equities and, as a result, more investors.

So, why should you buy silver stocks? Silver, like gold, is an asset that people may own rather than money. When a metal is utilized more frequently by industrial enterprises, it tends to perform better. Fears of inflation are also affecting this industry right now, and no one knows what will happen in the end. So, plainly, there is a lot to consider if you are considering investing in silver stocks. Some people make an investment plan to pick which tickers to buy. With this in mind, let’s take a look at three silver stocks to keep an eye on right now.

Top Silver Stocks To Watch

Fortuna Silver Mines Inc. (NYSE: FSM)

Fortuna Silver Mines is a company that explores, extracts, and processes precious metals. The company is looking for reserves of silver, gold, zinc, and lead. Its main assets include the Cayloma and San Jose mines, as well as the Lindero Gold Project.

The business recorded a record third-quarter 2021 output of 87,950 gold equivalent ounces on October 12th. Its overall gold production in the quarter was 26,235 ounces, with 24,318 ounces in dore and a 1918 ounce gain in gold-in-carbon inventory. It produced 68,088 ounces of gold in the first nine months of 2021. This figure is consistent with the company’s revised annual outlook.

The company stated that “Gold production was 1,529 ounces, an increase of 12 percent over the third quarter of 2020. The increase in production is due to higher head grades located in the Animas NE vein. Gold production for the first nine months of 2021 totaled 4,712 ounces, which is above plan.” Will FSM be on your list of silver stocks to watch?

Endeavour Silver Corp. (NYSE: EXK)

Endeavour Silver Corp. is a silver firm that we have previously discussed extensively. This corporation acquires, explores, and develops land. Endeavour is working on mineral processing, refining, and reclamation. The majority of Endeavour’s key assets are in both Mexico and Chile. Endeavour’s mines are mostly used to mine silver and gold.

On December 2nd, the company announced that it has intersected high-grade silver-gold mineralization at its Guanacevi and Bolanitos operations. At its Guanacevi operations, it reported 1.97 gpt Au and 1,254 gpt Ag for 1,412 gpt AgEq over a 3.22 m ETW, and 4.36 gpt Au and 1,450 gpt Ag for 1,798 gpt AgEq over a 3.18 m ETW. At Bolanitos, Endeavour reported 8.08 gpt Au and 151 gpt Ag for 797 gpt AgEq over a 1.67 m ETW, and 1.26 gpt gold and 241 gpt silver for 342 gpt AgEq over a 0.96 m ETW.

CEO of Endeavour, Dan Dickson said, “We continue to see exceptional drilling results within the El Curso and the Santa Cruz Sur systems at our Guanacevi silver mine. We have been operating at Guanacevi for more than 15 years and these encouraging results support our view that we can continue to extend the mine life.” Will EXK be on your silver stock watchlist?

Harmony Gold Mining Company Limited (NYSE: HMY)

Harmony Gold Mining Company Limited is a mining stock that has been mentioned a lot on goldstocks.com in the past. This firm searches for, extracts, and processes gold, silver, copper, and uranium. It presently operates in South Africa and Papua New Guinea, both of which have proven to be profitable for the company.

The company’s earnings and revenues increased year over year in fiscal year 2021, according to the most recent release. This was owing to rising metal prices and the company’s rapid expansion. Given that Harmony hasn’t issued any updates in quite some time, it’ll be interesting to see what they have in store for their shareholders before the end of the year.

Best Silver Stocks In 2021?

It’s challenging to decide which silver stocks to buy. There are several factors to consider before investing in mining companies. However, completing an extensive study and selecting what is ideal for you will be quite beneficial throughout the process. Which silver stocks will you be keeping an eye on for the time being?

The post Top Silver Stocks To Watch In December appeared first on Gold Stocks to Buy, Picks, News and Information | GoldStocks.com.

Author: Joe Samuel

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