Irving Is About to Become a Gold Producer

Source: Bob Moriarty for Streetwise Reports 07/17/2019 Bob Moriarty of 321 Gold describes the latest developments for this miner. One of the great pleasures of my job is to revisit companies making solid progress after having done everything they said they would do. I got back a week or so ago from a quick dash to Japan where I got to visit the wonderful team of Irving Resources Inc. (IRV:CSE; IRVRF:OTCBB). Irving is seven holes into a scout-drilling program. Their brilliant technical team has already hit a discovery hole similar in grade and thickness to the discovery hole of Hishikari, which was on only the second hole. I was talking about Irving over two years ago; after all, they had been reporting $26,456.39 a ton gold over 2.5 years back. Their shares were $0.85 back then, even after reporting the highest grade samples I have ever seen. That gave them about a $26 million market cap. Guys: This isn’t rocket science. If you can find one $26,456.39-a-ton rock sitting on the ground there are certainly going to be more. Slow forward to 2019. Irving has done something that no Japanese company could have done. While the Japanese are brilliant, there are no junior gold exploration companies in the country. And Irving has done something that no other Canadian could have done. They have brought in the world’s largest gold mining company as a partner, they have appointed the former Canadian ambassador to Japan as an advisor and made the Omu … Continue reading

Miner Seeks to Advance Exploration on Alaskan Prospect

Source: Maurice Jackson for Streetwise Reports 07/17/2019 In this interview with Maurice Jackson of Proven and Probable, the president and CEO of a project generator working in the Goodpaster District of Alaska explains the rationale behind putting the company’s stock on sale. Maurice Jackson: Joining us today for a conversation is Gregory Beischer of Millrock Resources Inc. (MRO:TSX.V; MLRKF:OTCQX). Mr Beischer, welcome. Gregory Beischer: Hi Maurice, always good to be here. Maurice Jackson: Always a pleasure to have you on the program, sir. As a reminder for our audience, in our last interview, we addressed claim staking Millrock Resources was conducting in the Goodpaster District of Alaska, which is becoming one of the most highly contested mining districts in the world. Mr. Beischer, before we delve into today’s interview, please introduce us to Millrock Resources, a premiere project generator, and share the investment opportunity that the company presents to the market. Gregory B.: We are a project generator/exploration company, so we develop early-stage exploration projects, but always, always find partners to share the natural risk that’s in early-stage exploration. That way we’re able to operate multiple projects at one time, and increase our chances of successfully finding an ore body that will greatly benefit Millrock shareholders. The latest project that we’ve come up with is called the Goodpaster Project. Maurice Jackson: We referenced the Goodpaster District of Alaska. Please provide us with some background on the district, and share with us where Millrock has been strategically positioning itself in the … Continue reading

The Battle for Investment Relevancy

Source: Michael Ballanger for Streetwise Reports 07/17/2019 Sector expert Michael Ballanger is watching the gold market and banking on opportunities in silver. “The desire for gold is the most universal and deeply rooted commercial instinct of the human race.”—Gerald M. Loeb One of the finest books ever written on investing was “The Battle for Investment Survival,” by Gerald M. Loeb, the provider of today’s quote and a true legend in the distant, long-forgotten world of free market capitalism. Also credited with “Put all of your eggs in one basket and watch the basket,” it was an obvious slap-in-the-face to those who eat, drink and breathe the diversification mantra. Having avoided disaster in the 1929 market crash, Loeb was deeply affected by the devastating swath it cut through the economic field of vision and was one of the first of his era to debunk the “long-term investing” track record, choosing instead to trade positions rather than hold. I remember reading the book in 1974 and marveled at how, thirty-nine years after its initial publishing run, it still retained relevancy, a quality that many professional investors lack given the rapidly changed/changing universe of financial products available to generations of new investors around the globe. From time to time, I will take it down from the bookshelf in my study, pour a glass (or two) of fine wine and browse the many chapters in search of old, time-honoured lessons and rules that I deem still absolutely relevant here in the Year of our … Continue reading

The New Gold Bull Market and an 'Exceptional Junior Explorer'

Source: Ron Struthers for Streetwise Reports 07/16/2019 Ron Struthers of Struthers’ Resource Stock Report discusses the gold bull market and one company that he believes investors should take a look at. The World Gold Council issued its mid-year outlook last week and trends are very bullish. It states the central banks across the globe have signaled a more accommodating stance, bringing bond yields to multi-year lows—and in some countries all time lows. Central banks continue as big buyers in the market, accumulating approximately 247 tonnes though May. Gold-backed ETFs captured US$5 billion or 108 tonnes year to date, led by European funds. Global monetary policy has shifted 180 degrees and will continue to be a driving force toward higher gold prices and gold equities. Gold and gold stocks have technically been in a bull market since the bottom in late 2015. From the $1050 bottom in gold, late 2015, prices ran up to $1360 in about 6 months to July 2016. That is a 30% rise, easily qualifying as a bull market, which is defined as a 20% rise. At the recent high of $1441, the price is up 37% from that low and up 22% from the $1180 low in 2018. No matter how you slice and dice it, gold has started a new bull market. All bull markets start with skepticism and disbelief. Many use the GDXJ (VanEck Vectors Junior Gold Miners ETF) to gold price ratio as a measurement and I believe it is an accurate indicator … Continue reading

Company Decides to Advance Peru Mine to Production

Source: Streetwise Reports 07/15/2019 The rationale for the decision and the potential to further improve project economics are explored in a ROTH Capital Partners report. In a July 9 research note, ROTH Capital Partners analyst Jake Sekelsky reported that Great Panther Mining Ltd. (GPR:TSX; GPL:NYSE.American) opted to advance its Coricancha mine in Peru toward a production restart, which is estimated to require $9 million in initial capex and happen by year-end 2020. ROTH has a target price of US$2.25 per share on the mining company (the current share price is about US$0.72) and maintained its Buy rating. Great Panther’s decision to move forward, Sekelsky explained, was based on the fact that results from trial stoping and bulk sampling confirmed the operating parameters outlined in the preliminary economic assessment (PEA). Specifically, the development rates achieved during bulk sampling averaged 3.2 meters per day (3.2m/day), surpassing the 3m/day rate noted in the PEA. Also on testing, recoveries, which averaged 90.3% silver, 76% gold, 85.7% lead and 82.9% zinc, were all consistent with the estimates in the PEA. The bulk sampling work processed 5,000 tons of material and produced 5,561 ounces (5,561 oz) of silver, 303 oz of gold, 107,319 pounds (107,319 lbs) of lead and 99,899 lbs of zinc. A copper concentrate was not produced due to the low grade of the mined material. As such, Sekelsky commented that Great Panther will likely wait to produce a copper concentrate at Coricancha until it achieves commercial production there and has access to higher-grade … Continue reading

Updated Resource Lifts Total Gold Ounces by 11%

Source: Streetwise Reports 07/15/2019 The new numbers and their impact on the existing project are presented in a Haywood report. In a July 8 research note, Haywood analyst Geordie Mark reported that Endeavour Mining Corp. (EDV:TSX; EVR:ASX) release an updated resource estimate for its Le Plaque deposit in Côte d’Ivoire. Specifically, Le Plaque’s newly calculated resource totals 4.63 million tons (4.63 Mt) containing 476,000 ounces (476 Koz) of gold at a grade of 3.2 grams per ton (3.2 g/t). A gold price of $1,500 per ounce and a grade cutoff of 0.5 g/t were used. “The update showcases the progress Endeavour has made at Le Plaque, which now offers a significant improvement from the previous iteration that outlined 0.97 Mt containing 84 Koz of gold grading 2.7 g/t,” Mark noted. The analyst described the news as “slightly positive.” He added that the greater resource at Le Plaque improves the outlook at its existing Ity mine there as it increases the total contained ounces at Ity by 11% and the average gold grade by 5%. The Le Plaque resource could be incorporated into the Ity mine plan, as early as 2021, and enhance the life of mine, with potentially even further growth upside resulting from further drilling and metallurgical and geotechnical work. Another potential benefit of the Le Plaque resource, wrote Mark, is that it could enhance mill head grades and recoveries. This is due to Le Plaque’s closeness to the processing plant, a 6 kilometer distance, along with the deposit’s … Continue reading

'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

Feasibility Study Reveals 'Attractive' Gold Project

Source: Streetwise Reports 07/13/2019 The study’s highlights are presented and discussed in a Canaccord Genuity report. In a July 4 research note, analyst Eric Zaunscherb reported that Canaccord Genuity raised its target price on Orezone Gold Corp. (ORE:TSX) to CA$1.50 per share from CA$1.40. This represents a 127% projected return from the company’s current share price of CA$0.64. This change resulted from Canaccord Genuity updating its model on Orezone in accordance with the recently released feasibility study on Bomboré. The study confirmed that the Burkina Faso gold project, 90% of which Orezone owns, is “robust” as expected, which should help the company in its pursuit of project financing. Specifically, Zaunscherb relayed, the feasibility study outlines a first pour from stage one oxide ore taking place in late 2021, with commissioning and ramp-up to commercial production of 5,200,000 tons (5.4 Mt) per year in Q1/22. The study indicates greater gold production than anticipated, which should result from the capture of higher-grade oxide and sulphide. A stage 2 sulphide circuit will be built through 2023, with which 2.2 Mt per year of material can be added to the annual 5.2 Mt. “The stage 2 plant allows Orezone to wrap arms around transition and sulphide ore to expand reserves, throughput and mine life while also increasing grade,” Zaunscherb noted. The feasibility study also shows initial capex to be better than expected, at US$153 million versus US$225 million. This results from shifting more of it, US$63 million instead of US$20 million, to the expansion … 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