Analyst: Without Drilling a Hole, Explorer's New Acquisitions Have Increased in Value

Source: Peter Epstein for Streetwise Reports 06/30/2020 Peter Epstein of Epstein Research digs into recent news from Portofino Resources, which now has prospects on four gold properties in Canada and two lithium brine assets in Argentina. Note: Au = Gold, Ag = Silver, Cu = Copper, Zn = Zinc, Cu Eq. = Copper Equivalent at spot prices It has been a busy six weeks for Portofino Resources Inc. (POR:TSX.V; POT:FSE). Six press releases have been issued. I will reiterate the key takeaways. But first an update on Portofino’s South of Otter (SOT) property in the Red Lake mining district of northwestern Ontario. Although SOT is a priority, all four properties will likely see exploration this year. South of Otter: ~9 kilometers (~9 km) from Great Bear’s Dixie project The 5,207-hectare SOT project is 40 km southeast of Red Lake, Ontario, and about 9 km east of Great Bear Resources Ltd.’s (GBR:TSX.V; GTBDF:OTCQX) very high-grade Dixie project. In the past, SOT was the subject of large-scale geophysical surveys designed to target base metals. However, in 2001 Goldcorp completed a property-wide compilation and interpretation of prior ground and airborne magnetic data to assess the potential for gold. Due to a lack of outcropping rocks, minimal follow-up work was done. Management just completed a field program of prospecting and geological mapping along strong conductors identified in the company’s winter electromagnetic (EM) ground survey. A total of 32 samples were collected to test various styles of mineralization, lithologies and alteration. The work program included … Continue reading

Quinton Hennigh Playing 3-D Chess with Irving

Source: Bob Moriarty for Streetwise Reports 06/30/2020 Bob Moriarty of 321gold discusses the latest developments in Japan with this company. In February when I was writing about Irving Resources Inc. (IRV:CSE; IRVRF:OTCBB) I put in some pictures of rocks from Irving that Quinton sent me. I polished them and had a jeweler friend make buckles out of them. I did the polishing. Maurice put up the gold. I am way too cheap to be buying gold buckles for him. I’ve known Quinton for over a dozen years now. He’s smarter than me. Hell, he’s smarter than Barb was and she was smarter than me. Because Quinton tends to dress in Goodwill basic, people underestimate him. Quinton’s playing 3-D Chess when everyone else thinks it’s Chinese Checkers. It’s not. There is purpose in everything he does. He and Akiko Levinson have the perfect relationship. She Captains the boat and he adjusts the sails now and again. I know a lot about the background, we talk constantly. When you create a mining company or put a mine into production, you need to make sure you haven’t painted a bulls-eye on your back with a sign on your head saying, “I’m stupid.” Many a poor young lad has believed he has made his fame and fortune only to find out someone snatches it away for cents on the dollar while he was setting up his marbles ready to play. Quinton is always thinking about the future. He wants to help create Japan’s leading … Continue reading

The Great White North of Debt: What Canada's Monetary Policies Mean

Source: Michael Ballanger for Streetwise Reports 06/29/2020 Sector expert Michael Ballanger breaks down the Canadian government’s monetary policies, and offers an anecdote drawing correlations between positioning in gold now and positioning in gold in the 1970s, before the commodity’s “parabolic” ascent. As I sit here on a Thursday evening, contemplating the logic behind my most recent additions to a highly tentative short position on the SPY:US (the exchange-traded fund [ETF] tracking the S&P 500), I am doing everything in my power to not take my quote machine and project it into the watery abyss of lovely Lake Scugog. If there were a number of politicians or central bankers lined up on the shoreline, I would not hesitate to fire off a volley of quote machines, cellular phones, portable chargers, paperweights, ash trays and medicine balls all in a concerted effort to decapitate the singular most useless collection of heads ever assembled on any shoreline, notwithstanding the fact that the bodies would only float on a one-inch layer of water, while the weeds, algae and flotsam exist in the four feet to the lake bottom (not that anyone can see it after June 10). The venerable Justin Trudeau, son of Pierre, the current prime minister of Canada and the son of the most treasonous politician in Canada’s history, has now officially assumed the role as the most incompetent human being ever to have been elected to public office in any jurisdiction north of the 49th Parallel. Not only is he the … Continue reading

The San Francisco Gold Mine of Magna Rises Again

Source: Bob Moriarty for Streetwise Reports 06/29/2020 Bob Moriarty of 321gold discusses why he believes this new company can succeed with this gold mine while its predecessor could not. Yesterday I promised I would be boring so here it is. We are in a depression. The Fed is doing the opposite of the right thing. They are destroying the currency. Their stupidity will take down the stock market as well as the bond market and leave most of the 99% broken. We will see the banks close. We will have hyperinflation. You can still protect yourself and it’s not by buying Hertz shares on RobbingTheHood. I promised I would be writing about low cost high potential resource stocks. Magna Gold Corp. (MGR:TSX.V; MGLQF:OTCQB) is a newly formed company headed by Arturo Bonillas. He has done a deal with Alio, the new company name for what was Timmins Gold, former operator of the San Francisco Gold Mine in Sonora, Mexico. Timmins put the mine back into production but got a little carried away with drilling and trying to advance the mine. They managed to spend all the profit on exploration. Arturo Bonillas managed the mine and can solve the real issues created by prior management. Under the agreement for Magna to take over the mine, Timmins will receive about 18% of the stock. In addition there were legal issues with former contractors who weren’t paid. Those issues have been sorted. The mine has and can make money. Magna has about $10 … Continue reading

Mining Junior 'Well Positioned Among Exploration Peers'

Source: Streetwise Reports 06/29/2020 Recent results from Troilus Gold’s drilling of its Southwest zone are discussed in a Haywood report. In a May 14 research note, Haywood analyst Pierre Vaillancourt wrote that at Troilus Gold Corp.’s (TLG:TSX; CHXMF:OTCQB) Troilus project in Quebec, the Southwest zone shows mining potential. This is the case in part, he indicated, because recent drill results showed the Main zone of Southwest to have geological characteristics that are similar to that of the historical Z87 zone, “with strong alteration and discrete high-grade intervals.” (Southwest’s West zone is similar to the J4 and J5 zones.) The results were from six holes of a larger program drilled at Southwest, which sits 3.5 kilometers from Z87. Vaillancourt further described the findings. They showed that grades are distributed primarily in bimodal fashion, which is a pattern seen in other Southwest hole results. Narrower intervals of high grades of 1–46 grams per ton (1–46 g/t) are in or proximal to broader areas with lower grades of 0.5–0.9 g/t. Some of the new highlight intercepts include 13.3 g/t gold over 1 meter (1m) within a broader intercept of 1.1 g/t gold over 21m; 15.1 g/t gold over 1.1m; 1 g/t gold over 5m; and 1.3 g/t gold over 5m. “The intersections were at open-pittable depths, most with intercepts within 250m of surface,” Vaillancourt reported. The analyst highlighted that the Southwest zone has a potential roughly estimated resource of 450,000 ounces at a grade of 0.85 g/t gold, but qualified that it is … Continue reading

Technical Analyst: Gold Bull Market Well Established in Many Currencies

Source: Clive Maund for Streetwise Reports 06/29/2020 Technical analyst Clive Maund discusses the price of gold in various currencies and what he believes is ahead for gold, the U.S. dollar and the stock markets. We will start this update by looking at gold’s price measured against various important currencies. These long-term charts quickly make clear that gold is in a major bull market, which is another way of saying that these currencies are losing purchasing power. Gold in Australian dollars… Gold in Canadian dollars… Gold in Japanese Yen… Gold in Swiss Francs… So we should clearly not allow ourselves to be fooled by gold not breaking out to new high against the U.S. dollar, especially given the Fed’s recent extreme profligacy involving the creation of trillions of dollars for the purpose of backstopping the credit markets, bailing out favored crony corporations, and paying countless millions of newly unemployed people to sit at home twiddling their thumbs, none of which can be classified as productive use of the money. All this extra money means that eventually there will be a lot more money chasing the same, or rather a reduced supply of goods and services, now that the economy is a lot less productive thanks to lockdowns and closures, etc. The only reason that the Fed has been able to get away with it so far without rampant inflation is because the economy is dead, so there is no money velocity, but this money will find its way out eventually and … Continue reading

Eloro Hits the Silver Hurdles Running

Source: Bob Moriarty for Streetwise Reports 06/28/2020 Bob Moriarty of 321gold explains why he is investing in this company with a project in Bolivia. I expect to get very boring over the next few months. While I have been warning for years of a massive financial collapse coming to the world few people actually get it. We are in a depression. There is $250 trillion worth of debt in the world that will never be paid. It is going to grow far worse than it is today. What the Fed and Central Banks around the world have done is feeding fuel to the fire. The banking system is going to collapse through a series of cascading defaults making their way through the system. The multi-month lockdown has done more psychological damage to the inmates than the damage from the virus. Some 40 million Americans who have lost their jobs combined with the lockdown has brought riots and civil disorder to hundreds of cities in the US. When you add to those two factors the issue of simple envy, you have the ingredients for massive civil disorder. Most people would casually ignore envy as a factor in revolution and riots but that may be a mistake. In a famous and oft-duplicated experiment scientists showed how envy caused even monkeys to literally “go off.” I’m not a fan of 45-minute videos and it confuses me as to why those sending them out believe that everyone has hours a day to watch long … Continue reading

Explorer Drills 'High-Grade Hits' in Quebec

Source: Streetwise Reports 06/26/2020 A Laurentian Bank Securities report notes Troilus Gold’s new drill results from the final holes of its latest drill campaign demonstrate expansion potential. In a May 14 research note, Laurentian Bank Securities analyst Jacques Wortman wrote that new drill results from the Southwest Zone (SWZ) of Troilus Gold Corp.’s (TLG:TSX; CHXMF:OTCQB) Troilus project in Quebec “demonstrate expansion potential to the northeast and returned high-grade intervals, characteristic of the company’s geological model and consistent with mineralization in the past-producing Z87 pit.” These new results, which Wortman presented in his report, are for the last six of Troilus Gold’s 11-hole, 6,000 meter (6,000m), phase 2, Southwest Zone drill program. Phase 1 encompassed seven holes. Overall, the new findings underscore the “presence and importance of high-grade gold,” the analyst wrote, not only at Southwest but also on the Troilus property as a whole. They also support the company’s geological model that “highlights the trend for high-grade intercepts within broader disseminated mineralized zones related to fold and shear patterns that create high-grade traps,” added Wortman. He listed some of the best assays of the batch, which come from three of the holes. TLG-ZSW20-181 returned 13.28 grams per ton (13.28 g/t) gold equivalent (Au eq) over 1m within a broader intercept of 1.18 g/t Au eq over 21m. TLG-ZSW20-186 showed 16.1 g/t Au eq over 1.1m, 1.33 g/t Au eq over 5m and 1.43 g/t Au eq over 5m. TLG-ZSW20-190 demonstrated 46.4 g/t Au eq over 1m. “We are encouraged by … Continue reading

Analyst Says Company Could Be a 'Breakout Explorer Name in 2020'

Source: Streetwise Reports 06/25/2020 A Cormark Securities report highlights that recent exploration by Troilus Gold yields one of the best holes ever drilled on the property. In an April 22 research note, Cormark Securities analyst Richard Gray reported that Troilus Gold Corp.’s (TLG:TSX; CHXMF:OTCQB) “Southwest zone is starting to bring the heat,” and the company recently drilled one of the best holes ever on the property. The Southwest zone is part of its Troilus gold project in Quebec and is located about 3.5 kilometers (3.5 km) from the main mineralized zone at Z87. Southwest and the main mineralized zone share similar geology. Gray relayed that the highlight hole, TLG-ZSW20-189, drilled in Troilus’ Southwest zone, returned 2.05 grams per ton (2.05 g/t) gold equivalent (Au eq) over 48 meters (48m) within a larger intercept of 1.56 g/t Au eq over 73m. The grade is more than double the average grade of the existing resource of 0.95 g/t Au eq. Results of another highlighted hole that Troilus reported along with this one, TLG-ZSW20-185, showed 1.02 g/t Au eq over 15m. “These drill results further demonstrate the potential of the Southwest zone to add to the current mineral inventory of 6,470,000 ounces of Au eq at the Troilus project,” Gray noted. Currently, Southwest, defined by the Main and West zones, extends for 1 km along strike and ranges from 10–70m in width. An initial resource estimate for Troilus is expected later this year. “Troilus could be a breakout explorer name in 2020,” Gray … Continue reading

What Resource Companies Are on This Fund Manager's Buy List?

Source: Streetwise Reports 06/25/2020 Ralph Aldis, portfolio manager at U.S. Global Investors, in this interview with Streetwise Reports, looks at precious metals during the global downturn, and discusses M&A in the industry as well as companies he sees as undervalued. Streetwise Reports: Ralph, thanks for joining us today. Let’s start with gold, which has seen a steep rise in the last few months amid the global pandemic and moves by central banks to shore up the economy and the markets. What do you think is ahead for the metal? Ralph Aldis: I think that the backdrop of government spending and monetary intervention by the Federal Reserve to keep interest rates low provides a solid foundation for gold to still move higher. You throw in a potential change in leadership in the White House in November and maybe we will see gold take out its previous high. In 2016, gold rallied pretty hard for the first nine months but lost its momentum with the election of President Trump and the focus on wealth creation and the stock market. All the uncertainty risk that tariffs and other unexpected policies have created have really raised the foundation for higher gold prices. I think that’s why we’ve seen it steadily march higher over these last three years despite the focus on the stock market. SWR: Gold has long been outperforming silver, and the ratio is around 100 right now, after coming down a little bit. What do you see ahead for the relationship between … Continue reading