'Canada's Newest Gold Producer' Ramps Up Production, Continues Exploration

Source: Streetwise Reports 07/13/2019 The asset’s recent output and the company’s exploration plans are provided in an Echelon Wealth Partners report. In a July 8 research note, analyst Ryan Walker reported that a site visit to Harte Gold Corp.’s (HRT:TSX) Sugar Zone mine in White River, Ontario, left Echelon Wealth Partners impressed. The favorable aspects include the “ease of access and compact nature of the mine, the ease of ore vein visual identification, the simplicity of processing and the compelling near-mine and regional exploration potential,” Walker noted. Walker also reported that “Ontario’s newest gold producer” intends to pursue that “substantial exploration potential” on the property. In its 2019 drill program, Harte intends to focus on targets near Sugar Zone, including its southern extension and convergence at depth of the Sugar-Middle and Middle-Wolf zones. “While early days, such relatively shallow mineralization proximal to planned development has the potential to have a greater nearer-term impact on the mine plan than the compelling potential extensions and coalescence of existing zones at greater depths,” commented Walker. Harte also will continue stepout drilling along strike and downdip of the new zone. Exploration elsewhere on the company’s Greenstone Belt land package will first target the Hambleton Lake and K7 areas that were defined previously by geophysics, prospecting and limited drilling. At Hambleton Lake, Harte will test the alteration and iron formations downdip, and at K7, will aim to wholly define the extent of mineralization. Walker reviewed the recent numbers from Sugar Zone. (Harte had declared commercial … Continue reading

Gold Project is 'Robust, Strong Acquisition Candidate'

Source: Streetwise Reports 07/13/2019 Recent drill results from the asset and its current resource are discussed in a Haywood report. In a July 3 research note, Haywood analyst Kerry Smith reported that Bluestone Resources Inc.’s (BSR:TSX.V) recent drill results “continue to highlight the potential to upgrade Inferred resources to the Measured and Indicated (M&I) category at Cerro Blanco” in Guatemala. Smith reviewed the newly reported results. Of the eight holes, six were from the North zone, and two from the South zone. Each of the North zone holes intersected multiple veins as well as individual veins around 1 meter (1m) true width and of gold grades in the 5–10 grams per ton (5–10 g/t) range. Highlight hole, UGCB19-144, intersected 12 veins and returned 19 g/t gold over 7.5m, including 98.5 g/t gold over 1m. The rest of the North zone holes returned an average gold grade of 6.8 g/t. “We expect this ore body will have a positive grade reconciliation to the reserve model when mined, given the high-grade, nuggety nature of the deposit,” commented Smith. Results from the two South zone holes showed the best intercept to be 8.4 g/t gold over 9m. Bluestone will continue drilling from surface throughout 2019 to finish the current 8,000m campaign. Smith discussed the company’s current Cerro Blanco resource and its makeup. He indicated that about half of the existing 357,319 ounces of Inferred resources at an average 8.1 g/t gold grade could likely be converted into M&I resources without further drilling. M&I … Continue reading

Uranium Explorer Set to Profit in Market Upswing

Source: Maurice Jackson for Streetwise Reports 07/12/2019 In this interview with Maurice Jackson of Proven and Probable, the head of this junior miner in the Athabasca Basin discusses recent developments in the uranium market and the projects his company is focused on the region. Maurice Jackson: Joining us for a conversation is Jordan Trimble, the president, director, and CEO of Skyharbour Resources Ltd. (SYH:TSX.V; SYHBF:OTCQB), a preeminent uranium explorer in Canada’s Athabasca Basin. Sir, please introduce us to Skyharbour Resources, and the opportunity you present to the market. Jordan Trimble: Skyharbour is a high-grade uranium exploration and early stage development company with six projects scattered throughout the Athabasca Basin, which is in northern Saskatchewan in Canada. For those of you not familiar with the Athabasca Basin, it’s the highest grade depository of uranium in the world. Saskatchewan is ranked as the number three mining jurisdiction in the world by the Fraser Institute—so, really, it’sthe best place in the world to be looking for and developing uranium deposits. We started the company about six years ago, and what we saw was the contrarian opportunity in the uranium space to go out and really build a foundation, build a company up that would allow investors to get exposure to a couple of things. [First, we saw] an improving uranium market, so as a uranium-focused company, when the uranium price moves up, we’ll see our share price respond positively. Post-Fukushima, when we started the company, we saw an opportunity to go out and … Continue reading

Merger of Two Royalty Companies Provides Growth Platform to Become a Mid-Tier Force

Source: Streetwise Reports 07/11/2019 The combined company will provide exposure to both near- and longer-term projects. Terraco Gold Corp. (TEN:TSX.V; TCEGF:OTCPK), which holds a royalty on the Spring Valley gold project in Nevada, is being acquired by Sailfish Royalty. The combined company will hold a geographically diverse set of royalties, including projects in Nevada, Mexico, Brazil and Nicaragua. According to the terms of the deal, Terraco shareholders will receive 0.12 of a common share of Sailfish for each Terraco share. The arrangement represents a premium of approximately 53% over the trailing 20-day volume weighted average price of the Terraco shares as at June 19, the day before the announcement. The deal, which has the unanimous recommendation of the boards of both companies, is expected to close in mid-August. “To join together with Sailfish is a great opportunity for us,” Terraco CEO Todd Hilditch told Streetwise Reports. “We have a royalty portfolio on the Spring Valley gold project, that has size, scale and will be long-life depending on the production profile and the operator. Having a near-term production story made sense to us. With a combined Sailfish and Terraco we see….one plus one equaling three with a current cash flowing royalty, a stream/royalty in the shorter term (within 12 months), and then longer-term growth with our royalties as well as acquisition opportunities.” In addition, funds managed by Wexford Capital LP, collectively the largest shareholder of Sailfish with a 76% ownership stake, have completed a private placement into Terraco at C$0.13 per … Continue reading

Global Gold Miner Now Rated Outperform on Potential of Nevada JV

Source: Streetwise Reports 07/10/2019 The reasons for the upgrade are provided in a BMO Capital Markets report. In a July 3 research note, analyst Andrew Kaip reported that BMO Capital Markets upgraded Barrick Gold Corp. (ABX:TSX; GOLD:NYSE) to an Outperform rating on the potential of its and Newmont Goldcorp’s Nevada assets, recently consolidated through a joint venture agreement between the two companies. Additionally, BMO is resuming coverage on Barrick, now that the restriction period related to the transaction is over, with the higher rating and a US$20 per share target price. The current share price is about US$16.51. The analyst reviewed the deal and its potential benefits for Barrick. He highlighted that the resulting synergies from the combined Nevada assets “unlock value” and though integration risks exist, the near-term benefits outweigh those. According to the terms of the deal, which closed on July 1, Barrick’s ownership of the Nevada assets is 61.5% and it will be their operator. Newmont Goldcorp’s stake is 38.5%. “The intention of the joint venture,” Kaip explained, “was to unlock upward of $5 billion in pretax net present value (NPV) over the next 20 years, including an estimate of $500 million of pretax synergies over the first five years.” As for expected synergies, BMO’s analysis determined they could amount to about $1.1 billion in NPV5% for Barrick simply from a drop in all-in sustaining costs to about $685 per ounce from $775, Kaip pointed out. When BMO factored into its company model the synergies’ effect it … Continue reading

Palladium/Platinum Opportunity in Group Ten

Source: Bob Moriarty for Streetwise Reports 07/10/2019 Bob Moriarty of 321 Gold explains why he is a fan of this PGE explorer with a project in Montana. A couple of weeks back I was calling for a correction in gold. All of a sudden everyone was talking about gold and how high it was going to go. Bullish sentiment hit an absurd extreme. I got it right; the correction began the next day. Investors tend to forget that even in the most bullish of markets, corrections are common and desirable. Since the high, sentiment has dropped a lot more than price. I see the bull resuming its run very soon. Late July tends to be one of the best times to be taking new positions in resource stocks. There is a lot of low hanging fruit out there and there are many penny dreadfuls that are going to go up a lot higher than investors realize. One of my favorites in the palladium/platinum space has come down a lot since I wrote about them in February of 2018. At today’s price I find the company very attractive. To fairly understand the incredible potential of Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE) first it is valuable to learn about their next-door neighbor in Montana, Sibanye-Stillwater. A South African company bought the Stillwater Mining Company in 2017 for a cost of $2.2 billion. For that they picked up a mining reserve of 20 million ounce Pt+Pd at a cost of $110 per … Continue reading

McDermott Awarded Single Largest EPCI Offshore Contract for Saudi Aramco

Source: Streetwise Reports 07/10/2019 McDermott International has been awarded a US$3 billion contract for Saudi Aramco. The company will partner with China Offshore Oil Engineering Company to increase production by 300,000 barrels per day. McDermott International Inc. (MDR:NYSE) announced that it has been awarded a contract in excess of US$3 billion for Package 1 of Saudi Aramco’s Marjan Increment Development Mega-Project to provide engineering, procurement, construction and installation (EPCI) of the Gas-Oil Separation Plant (GOSP), in a consortium with China Offshore Oil Engineering Company (COOEC), a subsidiary of China National Offshore Oil Corporation. The award reportedly represents the single largest EPCI offshore contract awarded by Saudi Aramco. The Marjan Increment Project will increase production from 500,000 to 800,000 barrels of oil per day, with Package 1 GOSP facilities at the core of the development. The project includes EPCI of a gas-oil separation platform, compression and accommodation facilities. McDermott is leading the consortium with COOEC. The scope of the project includes the fabrication of over 165,000 tons consisting of six major topside platforms and jackets, 12 bridges and six bridge support platforms and jackets, and over 40 miles of 36-inch oil export trunk lines along with more than 55 miles of 230kV composite subsea cables. McDermott is a fully-integrated provider of technology, engineering and construction solutions to the energy industry in both shallow water and deepwater construction. The firm designs and builds end-to-end infrastructure and technology solutions from the wellhead to the storage tank and transportation and transformation oil and gas … Continue reading

The Charm of Fishing

Source: Michael Ballanger for Streetwise Reports 07/09/2019 Sector expert Michael Ballanger explores the analogies between fishing and investing. As many of you know, I love to spend the summers exploring the thousands upon thousands of bays and inlets and coves that represent the Georgian Bay landscape. With the exception of a few boyhood jaunts around the Parry Sound area, I was not able to fully appreciate the grandeur of the Canadian Shield as it escapes its marine blanket while leaving behind thousand of large and small islands in its wake. Sightseers like the famous Group of Seven, whose artwork is almost exclusively the Georgian Bay vistas, would refer to them as islands or fresh water atolls but boaters young and old refer to them simply as “rocks,” and they are both feared and revered by anyone that has run aground, as propeller shafts and stern drives do not get mangled by islands or fresh water atolls. Part of the majesty of the region lies in the perpetual presence of danger whenever one departs the well-marked channels and heads out into “the big water.” Summer weather on the Great Lakes and particularly northern Georgian Bay is fickle and it is immediate, in that a bright blue sky with calm seas during breakfast hours can become a roaring tempest by early afternoon, with winds that seem to know instinctively in which direction to blow your vessel. . .and know this: It is never away from rocks. However, most seasoned mariners are well … Continue reading

Is a Lithium Sector Rebound Coming? Is This Company Too Cheap to Ignore?

Source: Peter Epstein for Streetwise Reports 07/09/2019 Peter Epstein of Epstein Research explains why he believes this company stands out from many of the lithium explorers in Argentina. Portofino Resources Inc. (POR:TSX.V; POT:FSE) is a high-risk lithium junior with three brine projects in Catamarca province, Argentina. I say “high risk,” but that should go without saying. All lithium juniors are high risk. There are 13–14 publicly listed, pre-PFS (prefeasibility study) stage companies (Neo Lithium has completed a PFS, Millennial Lithium is expected to deliver a BFS in August) with all, or substantially all, of their properties in Argentina. But, how many of those companies are proactively moving forward? How many have good projects? Which companies still have to make substantial cash payments to complete acquisition(s)? Portofino Resources moving forward, several peers dead in the water Portofino is clearly moving the ball forward on two of its three projects, and it does not owe a lot of money to property vendors. Although it’s too early to know if the company has good assets, one of its two main projects, Hombre Muerto West (HMW), is in the single best salar in Argentina—Salar del Hombre Muerto. Last year, 18 near-surface samples were taken, plus two duplicates, on the two concessions that total 1,804 hectares. The top three samples averaged 906 mg/L Li and had a low average Mg:Li ratio of 1.8 to 1. Neighbors in and around Hombre Muerto include Livent Corp. (formerly FMC), Korean giant POSCO and Australia-listed Galaxy Resources. Within the … Continue reading

Miner Advances Exploration at Flagship PGE Project

Source: Maurice Jackson for Streetwise Reports 07/09/2019 In this interview with Maurice Jackson of Proven and Probable, the president and CEO of this company describes the most recent developments at its Montana prospect. Maurice Jackson: Joining us today is Michael Rowley, president and CEO of Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE), which is known for platinum, palladium, nickel, copper and cobalt in the Stillwater district in Montana. Glad to have you back, sir. Michael, I can only imagine the excitement that your team and mostly prudent shareholders must be feeling as the press releases continue to show hit after hit of high-grade mineralization on your flagship Stillwater West Project. Today’s interview will be no different as we have more exciting results to provide shareholders. But before we begin, Mr. Rowley, please introduce us to Group Ten Metals and the opportunity the company presents to the market. Michael Rowley: Thank you, Maurice; glad to be back. We are indeed looking forward to starting our work on the ground this year, which we expect will be a break out year for Group Ten with our first drill program following a year of compilation and targeting work. Group Ten is one of two companies active in the Stillwater District in Montana, which is world-renowned for its mineral wealth. The Stillwater Complex is a layered magmatic intrusion that was formed about 2.7 billion years ago when successive pulses of metal-rich magma laid down multiple layers, then cooled and crystalized to become a package … Continue reading