Newsletter Issue 18 /2018
Stock of the week: White Gold
White Gold Corp.: More than one million gold ounces in the treasury!
The White Gold District of the Yukon has seen gold discoveries of approximately 7 Million Oz since 2007. White Gold Corp. owns a portfolio of 19,606 quartz claims across 30 properties, totaling 390,000 hectares (approximately 40% of the district). This makes White Gold Corp. the largest land holder in the District. The company has already a mineral resource of 961k Indicated and 282.5k Inferred ounces of gold. The highly experienced technical and management team has a track record of multiple discoveries in the White Gold District.
Video: White Gold: Exploring Huge Deposit In Yukon, Canada
White Gold generates CA$10 million – Kinross and Agnico Eagle on board!
A short time ago, White Gold closed the brokered private placement of 10,526,720 common shares of the Company, issued on a flow-through basis, at a price of CA$0.95 per Share, for aggregate gross proceeds of approximately CA$10.0 million. The gross proceeds of the Offering will be used by the Company to incur Canadian exploration expenses on its properties in the White Gold District of the Yukon Territory prior to December 31, 2019. Following the Offering, Agnico Eagle Mines Limited will continue to hold approximately 19.9% of the Company and Kinross Gold Corp. will continue to hold approximately 19.9% of the Company.
Two of the leading gold producers on board – that’s a real big statement!
White Gold announces top-class drill results!
White Gold recently provided an update on its fully funded CA$9 million exploration program and announce initial diamond drilling results.
- Initial drill results have returned some of the strongest and most consistent mineralization intercepts drilled to date on the Golden Saddle deposit.
- Hole WHTGS18D0176 returned 6.89g/t Au over 32.0m from 171m depth, including 11.08g/t Au over 18.4m from 188m depth.
- Hole WHTGS18D0175 returned 4.6g/t Au over 44.9m from 218m depth, including 8.57g/t Au over 17m from 223m depth.
- Hole WHTGS18D0174 intersected an unexpected zone of 1.34 g/t Au over 8.0m located above the Golden Saddle Main Zone from 47m depth, demonstrating the presence of mineralization above the previously defined mineral resource. It also returned 3.69 g/t Au over 40m; including 5.58 g/t Au over 24.4m from 139m depth.
White Gold had some excellent results; no wonder that big gold players like Agnico Eagle and Kinross already stepped into the stock!
The recent down-turn of the gold price below the psychological important mark of US$1,200 per ounce provided uncertainty for many investors. But this step backwards will also be only a small episode within an expected longer term upwards-trend of the gold price. Many analysts predicted, that this recent down-trend will be the death blow for gold. But that is not the whole truth, because there is still flowing a lot of money into the sector, like Osisko Mining recently proved. The development company didn’t achieve much up now, besides several hundred thousand meters of drilling, but the explorer now gets fresh money in the amount of 68 million CA$ - a real big number for such a small company like Osisko Mining. All this for a price between CA$2.30 and CA$2.85, which is much more than the current share price of less than CA$2.00! Are these investors nuts? No, because they know, that the current mega-short on the gold price will be only short-lived.
Copper Mountain Mining generates high earnings!
A couple of days ago, Copper Mountain Mining announced second quarter 2018 financial results. Production at the Copper Mountain Mine was 23.1 million pounds of copper equivalent in the second quarter of 2018, which includes 20.0 million pounds of copper, 6,500 ounces of gold and 68,400 ounces of silver. Revenue for the second quarter of 2018 was CA$84.2 million, from the sale of 19.9 million pounds of copper, 6,300 ounces of gold, and 70,000 ounces of silver, net of pricing adjustments. Cash flow from operations for the second quarter of 2018 was CA$40.1 million.
The company generated adjusted earnings of CA$2.91 million, which shows another successful year for the copper high-flyer!
US Gold: course aim US$2.75!
A few days ago, Roth Capital Partners published a new research report on US Gold Corp. Thereby, the analysts set a 12-month price target of US$2.75!
Caledonia Mining heavily rises earnings!
Caledonia Mining recently announced its operating and financial results for the second quarter of 2018. Gold production in the Quarter was 12,657 ounces, marginally higher than the first quarter of 2018 and in-line with expectations. Adjusted earnings per share of 35.2 cents were 86% higher than the corresponding amount in 2017.
Great news for all Caledonia shareholders, which should get more excellent news in the near future.
Firesteel Resources changes name to Nordic Gold
Firesteel Resources changed its name to Nordic Gold and trades now under the new symbol TSXV: NOR.
Treasury Metals with excellent drill results!
A few days ago, Treasury Metals announced assay results from three active exploration drilling zones.
- TL18-499A: 3.81 g/t Au and 34.65 g/t Ag over 13.00 m including 10.17 g/t Au and 120.47 g/t Ag over 3.00 m in the eastern edge of the Main Zone
- TL18-494: 111 g/t Au over 1.00 m in the East Resource Target area
- TL18-488A: 3.87 g/t Au over 4.70 m including 15.60 g/t Au over 1.00 m in the East Resource Target area
- As a follow-up to previously released hole TL18-489, TL18-500 intersected 2.04 g/t Au over 8.40 m, 1.64 g/t Au over 6.00 m and 1.22 g/t Au over 8.00 m in the Main Zone and continued into the developing C Zone shoot, intercepting 3.70 g/t Au over 4.00 m
- The highest silver assays reported in the program was associated with gold assays from TL18-489, which intersected 310.67 g/t Ag over 3.00 m including 921 g/t Ag over 1.00 m, found at the bottom of the C Zone shoot
Thereby, the company was once more able to prove the world class potential of its Goliath gold project.
News: Treasury’s Exploration and Infill Program Continuing to Intercept Significant Gold Mineralization
Video: Newsflash #78 With Maple Gold & Treasury Metals
Video: Newsflash #79 With First Cobalt & Treasury Metals
Auryn Resources: Financing heavily oversubscribed!
A short time ago, Auryn Resources announced that, due to significant demand, it has increased and closed its previously announced non-brokered flow-through private placement for CA$4.6 million to gross proceeds of CA$7.3 million. Goldcorp Inc. will maintain its pro-rata interest in Auryn (approximately 12.4%) by acquiring 490,000 common shares from the purchasers of the Charity FT Shares. The Company intends to use the net proceeds from the Offering to fund the Committee Bay drill program, a Homestake Ridge follow-up drill program of approximately 3,000 meters and a refined targeting program at the Gibson MacQuoid project.
Investors seem to love Auryn Resources!
MAG Silver: mine construction progressing fast!
A couple of days ago, MAG Silver announced its financial results for the three and six months ended June 30, 2018. Underground development in the first half of 2018 totaled 3,689 meters advanced, and accounts for a quarter of the total underground development advanced on the project to date. The draft of the Feasibility Study remains under review by both partners, with Fresnillo recently reiterating production to start-up by mid-2020.
MAG Silver is progressing well and will move to a mid-Tier silver producer within the next 24 months.
Swiss Resource Capital AG and the authors of the Swiss Resource Capital AG directly own and/or indirectly own shares of the following companies which are described in this publication: White Gold + Kinross + Agnico Eagle + Osisko Mining + Copper Mountain Mining + US Gold Corp. + Caledonia Mining + Firesteel Resources/Nordic Gold + Treasury Metals + Auryn Resources + MAG Silver.
Swiss Resource Capital AG has closed IR consultant contracts with the following companies which are mentioned in this publication: White Gold + Copper Mountain Mining + US Gold Corp. + Caledonia Mining + Firesteel Resources/Nordic Gold + Treasury Metals + Auryn Resources + MAG Silver.
This publication is based on Swiss Resource Capital‘s detailed risk notes, liability limitations and disclaimers, which can be viewed here: www.resource-capital.ch/en/disclaimer-agb.html