Top-News of the week:
Endeavour Silver acquires new mine + 40 million US$ more cash soon
Last week, Endeavour Silver announced that it has signed a definitive agreement with Canarc Resource Corp. to acquire a 100% interest in Oro Silver Resources Ltd., a wholly owned subsidiary of Canarc. Oro Silver holds the El Compas gold-silver mine property and a five-year renewable lease on the 500 tonne per day (tpd) La Plata ore processing plant in Zacatecas, Mexico. The El Compas gold-silver mine project has good exploration potential to expand resources and good acquisition potential to consolidate stranded resources and exploration targets within the Zacatecas mining district to extend mine life. Endeavour plans to complete a NI 43-101 report this year and to commence production at El Compas in 2017.
Furthermore the company recently announced that it has entered into a sales agreement with Cowen and Company, LLC, pursuant to which the Company may, at its discretion and from time-to-time during the term of the Sales Agreement, sell, through Cowen, as agent or principal, such number of common shares of the Company via the NYSE as would result in aggregate gross proceeds to the Company of up to US $40 million. Net proceeds of the Offering will be mainly used to advance the exploration and development of the company's Terronera project with further drilling, engineering and related work.
Top-work from Endeavour’s management! Another mine and enough cash to bring this one and Terronera into production. Furthermore the company seems to produce profitable again, which is been proofed by a net profit of 1.8 million dollars in the first quarter of 2016.
News: Buy of El Compas plant and mine
News: 40 Mio $ ATM
Interview INVEST 2016: INVEST 2016 Bradford Cooke interview
Market Watch:
A perfect storm for gold and silver!
Gold and silver strong as always! – What seemed to be unthinkable a few months ago, now seems to be boring to be told week after week. But fact is: If you have a look at the omen – not at the things happening right now – you can conclude, that the perspectives for gold and silver maybe never have been as good as now.
First topic: The FED! We just can repeat it again and again: The FED doesn’t have any space to significantly increase the federal funds rate. In cause of its dependence on the most important economic data (unemployment rate, US-exports) the next interest increase may happen in September, instead of June, as anticipated before. Goldman Sachs argues that there will only one more interest increase this year for about three weeks. Now there is also the HSBC which has the same opinion.
Second topic: Is there an opportunity for negative interest rates? The FED’s boss Janet Yellen herself made this opportunity contemplable. Not officially, but Yellen recently indicated this opportunity within a letter to Brad Sherman, a democratic Member of the House of Representatives.
Third topic: The future US president! No matter who will win the elections…there will be a bunch of uncertainties around, which will not only affect Wall Street, but the whole financial sector of the US negatively.
A nearly perfect storm for gold and silver! There are a couple of good gold and silver companies which should take an advantage out of this situation in the second half of this year, namely: Agnico Eagle Mines, Goldcorp (currently acquires Kaminak Gold), Sibanye Gold, Osisko Gold Royalties, Oban Mining (shall be named into Osisko Mining) and MAG Silver.
Interview Osisko Royalty: Sean Roosen Interview
Interview Agnico-Eagle: AEM Sean Boyd Interview
Interview Sibanye Gold: Sibanye Interview mit Neal Froneman CEO
Interview mit MAG Silver: MAG SIlver George Paspalas
Company News:
TerraX Minerals discovers new gold zone
A few days ago TerraX Minerals announced the discovery of a new gold zone at Homer Lake on the Yellowknife City Gold Project. There, the company intersected amongst others 15.91 m @ 1.78 g/t Au, 14.9 g/t Ag, including 2.70 m @ 5.51 g/t Au, 53.6 g/t Ag. A big success, in cause of the fact that surface assays and the 2015 ground magnetic survey indicate potentially multiple sub-parallel structures. Therewith TerraX Minerals could have much more gold and silver resources at the Yellowknife City Project than previously expected.
To continue its successful drill program, the company has closed the second tranche of a non-brokered private placement of flow-through shares announced May 2, 2016 with the issuance of a further 307,500 flow-through shares at 0.40 CA$ per share for gross proceeds of 123,000 CA$. The proceeds of this placement will be used for general working capital and to finance additional drilling this summer on TerraX's wholly owned Yellowknife City gold project.
News: top drill results Homer Lake
Klondex Mines significantly expands mineralized zones
Klondex Mines further extends main veins at the Fire Creek Mine with additional high grade intercepts. Therefore the company intersected – amongst others - 49.69 g/t over 4.4 m including 496.49 g/t over 0.4 m. These drill results support the management’s belief that Fire Creek is a much larger system than previously expected. Furthermore the results are all new and have not yet been included in the existing mineral resource estimate.
On the operating side Klondex is also doing a great job. The first quarter of 2016 showed a production of 30,142 GEOs, which is in-line with management expectations which anticipate GEO production and grades progressively increasing throughout the year.
News: KDX Q1-2016 results
News: Extension Main Vene good drill results!
Caledonia Mining: operating and financial results better than expected!
A few days ago, Caledonia Mining announced its operating and financial results for the first quarter of 2016. These numbers showed – amongst others – an 8.7% increase in production at a simultaneous reduction of the All-In-Costs of 3.6% to 950 US$ per ounce. At the end of the day the company had net earnings of 543,000 US$. Therewith the operating and financial results for the first quarter of 2016 were better than expected. In cause of the Revised Investment Plan the results should become even better in the next quarters.
News: CAL Q1-2016 results
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