Top-News of the week:
Up to 23% copper at Altona Mining’s Roseby South Project!
A couple of days ago, Altona Mining presented the results of the recent exploration program from the Roseby South project. Thereby, the company discovered two new large high-tenor, copper-in-soil anomalies with anomalism up to 4.6% copper at Harvest and 5.6% copper at Hobby. Both anomalies are comparable to the response obtained at Altona’s Little Eva deposit. Rock chip samples showed up to 14.4% copper and 0.74g/t gold at Harvest and 23.3% copper and 2.9g/t gold at Hobby. Sparse 1990’s drilling at Harvest returned a best result of „only“ 74 meters at 0.52% copper and 0.11g/t gold. The sample results were that convincing that the company decided to start drilling within the coming months. Should these results reasonably be proved, this could lead to a complete revaluation of the Roseby South Project and also of the Altona Mining stock.
News: AOH new top drill targets with lots of copper!
Video: New Copper Production - Dukascopy-TV
Market Watch:
Sprott Natural Resource Symposium 2016 delivers exciting insight into the current resource market
From the 25th to the 28th of July, the Sprott Natural Resource Symposium happened in Vancouver. We were on the spot and would like to give you a short overview of the most important things.
- Even exploration companies can generate financing again. What seemed to be improbable until May, has completely changed since June 2016: Even (smaller) resource companies get needed money thrown on them. Like Burey Gold: The company planned to raise some 500.000 to one million US$ in London in June. At the end of the day they got 28 million AU$! As a small exploration company with a project in the Kongo!
- Huge silver supply deficit! As been said in a couple of speeches, the silver sector showed a huge supply deficit for a couple of years now. This had a high in 2015 with more than 100 million ounces of silver! Endeavour Silver’s CEO Brad Cooke presented an exciting chart, which shows, that there were only four years since 2000, that showed a higher silver production than demanded. Within the last three years the demand of silver ounces was 350 million ounces higher than the production. The main reason for this drastic increase of the silver supply deficit is the reluctant development action of precious metals companies within the last years, in cause of lower prices.
- The electro-boom has started! Like Sprott-CEO Rick Rule showed in one of his speeches, investors should not only have a look on lithium and graphite in the started lithium-ion-battery boom, but also on other ingredients like Scandium. There are only two producers in the western world.
In total, the atmosphere was much better than at PDAC in March or even at the Vancouver Resource Investment Conference in Vancouver in January. At the beginning of this year, the commodity sector was clinically dead. Now, the gold rush fever is back! The turnaround has definitely been made, precious metals and precious metals stocks are in great demand again!
Video: Silver in Mexico at Dukascopy-TV
Video: Gold is getting real
Video: Gold and negative interest rates
Company News:
EnWave: Next License Option Agreement!
A few days ago, EnWave signed a Technology Evaluation and License Option Agreement with New Products R&D de C.V., a newly found, Mexican group. The company now has the right to use EnWave’s Radiant Energy Vacuum (“REV™”) dehydration technology for research and development purposes to develop several dried cheese products. It has been granted the rights to an eight-month exclusive option to purchase and use REV™ technology for the production of cheese snack products in Mexico. NPRD’s management group has extensive experience in the Mexican food processing industry and plans to leverage their existing network to evaluate the market opportunity throughout Latin America. To date, EnWave has signed eight commercial licenses for the production of cheese snack products using REV™ technology in countries that include the United States, Canada, Costa Rica, Chile, Portugal, Spain and Turkey. The use of REV™ technology for cheese processing has proven to offer attractive business cases for numerous consumer markets. The Company is focused on securing additional partnerships for cheese snack production in Australia, New Zealand, Japan and multiple countries throughout Europe and South America.
News: ENW with new TELOA with Mexican Food Processor
Fission Uranium: High-grade intercepts again!Within the last week, Fission Uranium once more announced spectacular results from its recent drill program at Patterson Lake South. One of the holes hit 43.0m total composite mineralization, including 8.48m of >10,000 cps. Of key importance, wide, high-grade, shallow mineralization has been drilled at both R840W and R1620E - the westernmost and easternmost zones on Fission's 2.58km trend. The high-grade R840W and R1620E zones have not yet been assessed for a resource estimate, but the significant intersections encountered on both zones indicate the potential to add to a resource estimate.
News: FCU with hits on both ends of the trend!
Video: Newsflash #43 with Fission
TerraX Minerals: Commencement of drill program and closing of private placement A couple of days ago, TerraX Minerals announced, that it has commenced a 27,000 meter drill program on its wholly-owned Yellowknife City Gold project in the Northwest Territories. Drilling is now underway on the Mispickel target, where drilling during the winter of 2016 returned discovery holes of 8.60 m @ 12.87 g/t Au and 7.30 m @ 23.60 g/t Au (News release of February 23, 2016), followed by an intersection of 8.0 m @ 60.60 g/t Au drilled down dip on that same section announced on June 6, 2016. This summer's drill program is the first phase of an extensive exploration drill program at the YCG that will be undertaken over the next 18 months. Drilling will be a combination of extensional drilling on known mineralized zones such as Mispickel; aggressive step out holes along the structures hosting known zones, such as the 5 km trend identified hosting Mispickel; and drilling focused on generating new discoveries. The summer drill program will continue until freeze-up in early October of 2016 and resume in early January of 2017, continuing through the balance of 2017.
Furthermore, the company announced, that it has closed the first tranche of a non-brokered private placement of 17,500,000 flow-through shares at 0.40 CA$ per share announced July 4, 2016 with the issuance of 10,654,846 shares at 0.40 CA$ per share for gross proceeds of 4,261,938.40 CA$. The proceeds of this placement will be used to fund the 27,000-meter drill program on TerraX's wholly owned Yellowknife City gold project.
News: 1 TXR closes Tranche 1 of PP
News 2: TXR starts 27000m drilling
Endeavour Silver back in the profit zone!A few days ago, Endeavour Silver released its financial results for the second quarter ended June 30, 2016. Endeavour owns and operates three underground silver-gold mines in Mexico: the Guanaceví mine in Durango state, and the Bolañitos and El Cubo mines in Guanajuato state. The Company's financial performance in the Second Quarter, 2016 improved compared to the Second Quarter, 2015. Revenues were down due to lower silver production and lower silver prices, but earnings were up as a result of lower operating costs.
The most important facts of the last financial results (compared to Second Quarter 2015) are:
- Net earnings of 1.7 million US$ compared to a net loss of 1.0 million US$.
- All-in sustaining costs decreased 38% to $10.53 per oz silver payable (net of gold credits).
- Raised net proceeds of 30.8 million US$ in Q2, 2016 through two At-the-Market equity financings. Endeavour completed its second ATM equity offering subsequent to quarter end, raising an additional 13.9 million US$ in net proceeds.
- Cash increased 178% to 56.8 million US$ and working capital increased 318% to 72.1 million US$ from year end.
- Acquired the El Compas gold-silver mine project in Zacatecas, Mexico.
- Outlined several prospective veins over a seven km by seven km area at the Terronera project.
- Raised 2016 production guidance to 9.0 million to 9.8 million oz silver equivalent, increased capital budget to 17.4 million US$ and exploration budget to 10.1 million US$ to accelerate growth projects, including 23,000 meters extra drilling.
Management successfully strengthened the balance sheet over the past six months through two ATM equity offerings and improved free cash flow. Furthermore, the El Cubo mine will not be closed and there may be a positive production decision for Terronera until the end of this year.
News: EDR Q2-2016 results - profitable!
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