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Pershing Gold + Gold: Double-top, instead of break-out + Rye Patch Gold + Osisko Gold Royalties + Endeavour Silver + Fission Uranium + Sierra Metals + Sibanye Gold + US Gold + Corvus Gold
Top-News of the Week:
Pershing Gold announces positive Pre-Feasibility-Study for Relief Canyon!
Pershing Gold recently announced the completion of a NI 43-101 compliant resource and Preliminary Feasibility Study (“PFS”) on its Relief Canyon Mine in Pershing County, Nevada.
Mine Development Associates, Kappes Cassidy & Associates, of Reno, NV and Jorgensen Engineering and Technical Services, of Centennial, CO, completed the PFS for the Company’s Relief Canyon gold mine with an effective date of May 26, 2017. The positive PFS by MDA recommends that Pershing Gold advance the Relief Canyon Project to a production decision. Highlights from the PFS include a pre-tax net present value (“NPV”) of US$144.6 million, an internal rate of return (“IRR”) of 89% and Net Cash Flow of US$192.7 million. This NPV, IRR and Net Cash Flow assume pre-tax economics using US$1,250 per ounce of gold, US$16.75/oz of silver and a 5% discount rate.
Further important results from this PFS can be found at the following link: Pershing Gold Announces Positive Preliminary Feasibility Study for Relief Canyon

Market Watch:

Gold: Double-top, instead of break-out
Instead of the expected breakout of the long-term downwards-trend, gold seems to show a chart-technical double-top, which could catapult the yellow metal downwards in the short term. The recent FED-meeting including a possible increase in interest rates into the range of 1.00 to 1.25% should be factored in and there are also positive fundamental signs regarding demand from China and India, but the gold-price is being prevented to start a significant breakout once more. The silver-price, which fell more than one US$ within only a couple of days, shows a similar scenario. At least for the gold-price, support is looming, which should come just from the US. Trumps previous economic policy seems not to work that good, the recent US economic data was nearly disastrous. So, it seems only a matter of time, until just gold fan Trump should support the gold-price with his weak economic performance.

Company News:

Rye Patch Gold reports first significant gold production, sales Rochester Royalty and 
A couple of days ago, Rye Patch Gold reported that the Florida Canyon mine has poured 3,094 ounces of gold for the month of May 2017. This compares to 485 ounces of gold poured in the month of April 2017. The Company plans to sell its 3,094 ounces of gold into its forward gold price contract facility priced at approximately US$1,275. This shows, that the company has have a positive ramp-up of gold and silver doré production. The upward trend shows the project is on track to meet production objectives in the third quarter of this year.
Furthermore, Rye Patch Gold announced the completion of the sale to Coeur Rochester, Inc. of the Company’s 3.4% net smelter return royalty for total consideration of US$5,000,000 in cash. Regarding the sale of the Royalty, the Company also received a final Royalty payment in the amount of US$313,701.86, representing the final Royalty amounts accruing up to the closing date.
Last, but not least, the company announced that it has entered into an agreement with PI Financial Corp., as lead underwriter on behalf of a syndicate of underwriters, under which the Underwriters have agreed to purchase, on a bought deal basis 38,470,000 common shares of the Company at a price of CA$0.26 per Common Share, for aggregate gross proceeds of CA$10,002,200. The net proceeds of the Offering will mainly be used for continued expansion of the Florida Canyon Mine.
News: Rye Patch Reports Gold Production
News: Rye Patch Gold Announces Closing of Sale of Rochester Royalty and Final Royalty Payment
Osisko Gold Royalties: First course aim increasing after the top-class deal!
After the announcement of the top-class acquisition deal between Osisko Gold Royalties and Orion Mine Finance, whereby Osisko will acquire Orion’s royalty portfolio for a total of CA$1.125 billion (we reported this deal via Special-Newsletter) more and more analysts seem to be interested in the Canadian royalty company. Accordingly, it took only a few days for the first research reports to this deal. Cormark Securities took the pole position and announced a very positive research report and a buy-rating with an increased course aim of CA$22.50 for the Osisko stock.
After a couple of smaller deals, Osisko Gold Royalties has now catapulted itself into squad of the large royalty companies and into the focus of more and more analysts and investors.
News: Cormark Research empfiehlt Osisko Gold Royalties mit Ziel 22,50 CAD
Special-Newsletter: Special Newsletter Osisko Royalties - Orion Mine Finance Deal
Video-Newsflash: Newsflash #63: Osisko Gold Royalties Acquires Orion Mine Finance Royalty Portfolio
Video Royalty-Companies: Gold Royalties
Endeavour Silver secures additional top-class mineral properties
A few days ago, Endeavour Silver announced, that it has acquired 100% interests in two small but prospective mineral property groups, Calicanto and Veta Grande, located in the historic silver mining district of Zacatecas in Zacatecas state, Mexico.
All of the properties host old mines and/or known silver-gold veins that were underexplored by modern methods and are being acquired for their near-term mine exploration and development potential, given their proximity to Endeavour’s El Compas Mine and La Plata plant, also located in the Zacatecas district.
The Calicanto properties were purchased from Arian Silver Corporation for US$400,000. They cover 75 hectares over five known, silver-gold-lead-zinc veins – Calicanto, Vicochea, Nevada, Misie and Buenaventura – within an area of 1.2 by 1.2 kilometers.
The Veta Grande properties were purchased from IMPACT Silver Corp. for US$500,000 by issuing 154,321 Endeavour common shares at US$3.24 per share. They cover 152 hectares over six known, silver-gold-lead-zinc veins plus 14 hectares of surface lands covering the dormant Santa Gabriela 200 tpd processing plant and tailings facility.
The company mainly awaits positive synergies with its El Compas mine development project in Zacatecas.
News: Endeavour Silver Acquires Additional Properties in Zacatecas, Mexico
Fission Uranium achieves additional top-class drill-results and confirms new mineralized zone
A couple of days ago, Fission Uranium announced the final assays of the winter program, including results that confirm high-grade mineralization at the new R1515W zone at its PLS property, host to the Triple R deposit, in Canada's Athabasca Basin region. Six of eight holes at R1515W zone were mineralized, with four returning multiple high-grade intervals, including hole PLS17-557 (line 1530W), which returned 3.12% U3O8 over 8.5m in 1.24% U3O8 over 27.5m and 5.15% U3O8 over 2.0m in 1.71% U3O8 over 9.0m.
Additional Mineralization 120m West of R1515W: Exploration drilling, which targeted the Patterson Lake Corridor a further 120m west of the R1515W zone, was also very encouraging – returning 0.74% U3O8 over a 0.5m interval in PLS17-514 (line 1665W). Importantly, this signals that the corridor continues to be very prospective for hosting high-grade uranium further along trend to the west towards the high-grade boulder field.
News: Fission Confirms High-Grades at 1515W Zone and Mineralized Area 120m West of New Zone
Sierra Metals successfully completes first phase of drilling – confirms high-grade silver zone at Cusi!
A short time ago, Sierra Metals announced initial assay results the from exploration drill program at the Santa Rosa de Lima zone located within the Cusi Mine property in Cusihuiriachi, Chihuahua state, Mexico.
Drilling has confirmed a high-grade mineralized deposit, located adjacent to the current operations. The Santa Rosa de Lima zone is a regional structure, that has been identified in the area extending for 12 kilometers. The Main mineralized zone extends over 1,000 meters in length, 400 meters in depth and is open along strike to the Northwest and Southeast. Average grade of the intercept is 371 grams of equivalent silver per ton. Average true width of the intercepts 4.1 meters.
These drilling program results confirm the existence of high-grade silver mineralization and demonstrate a significant potential for the Cusi Mine.
News: Sierra Metals Completes First Phase of Systematic Drill Campaign and Confirms Dimensions of High-grade Silver Mineralized Zone at its Cusi Mine in Mexico
Sibanye Gold receives affirmative credit ratings
As Sibanye Gold announced a couple of days ago, it has received a Ba2 rating from Moody’s Investors Service with a stable outlook and a B+ rating with a positive outlook from S&P Global Ratings.
In assigning the Ba2 (stable) corporate family rating to Sibanye, Moody’s noted that it reflects Sibanye’s solid business profile underpinned by diversified metal production revenues, as well as the Company’s track record of setting and sticking to conservative financial policies. The ratings outlook assumes Sibanye will: “deleverage as planned, following the addition of the Stillwater acquisition debt and the successful integration of the new mining assets”.

S&P noted that the assigned B+ (positive) rating reflects its view that Sibanye will: “generate positive discretionary cash flow after the Stillwater acquisition that should enable it to gradually reduce leverage in line with its stated financial policy”.

The affirmative credit ratings endorse Sibanye’s maturing business model and the value that is being created by its recent acquisitions.
News: Sibanye receives affirmative credit ratings ahead of bond issue
US Gold Corp.: Encouraging exploration results from Keystone
A couple of days ago, US Gold Corp. provided several background updates on its Keystone property acquisition and 2016 field exploration updates.
The initial 284 mining lode claims group comprising the Keystone project was 100 percent acquired by US Gold Acquisition Corp. in late May 2016. This acquisition triggered the immediate formation of an exploration group, headed by Dave Mathewson, to commence systematic, modern-era, district-scale exploration at Keystone. The project currently consists of 479 claims, an area of almost 15 square miles (about 39 sq km).
A five-scout hole, vertical core hole program was launched starting in the early fall of 2016 and continued to mid-December 2016 completion. This drill program hedged toward providing critical target development information in several areas of interest, especially in the almost completely undrilled eastern portion of the project area where much of the strongest surface sample geochemistry of gold, arsenic, thallium, antimony, and zinc is present in historic soil and rock samples.
This initial geological assessment indicates strong geological and alteration similarities to Barrick’s Cortez district to the northwest.
News: US Gold Corp. Provides 2016 Keystone Update on Encouraging Exploration Results
Video:  U.S. Gold: Exploring & Developing Keyhole Gold Deposit & Copper King  
Corvus Gold acquires Goldcorp project
Corvus Gold recently announced the agreement to acquire the Mother Lode property in Nevada from Goldcorp USA Inc..  Corvus Gold plans to purchase 100% of the Mother Lode property, covering approximately 250 acres and containing a historic (non-NI-43-101 compliant) resource of 8.5Mt at a grade of 1.6 g/t gold totaling 430,000 ozs of gold.  In addition, Corvus Gold staked two additional adjacent claim blocks to Mother Lode totaling 1,040 acres, covering areas of exploration and development potential. The Mother Lode property approximately 10 kilometers from Corvus Gold’s North Bullfrog project with potential for a large satellite operation.
The acquisition of the Mother Lode property is an important addition to Corvus Gold. Mother Lode hosts a series of thick, shallow dipping, stacked mineralized bodies averaging 1.6 g/t gold.  These mineralized bodies are open for expansion along with a number feeder structures averaging over 3 g/t gold. The company intends to initiate a substantial exploration and resource development program at Mother Lode this summer. Corvus Gold is also on track to complete its update of the North Bullfrog resource and Preliminary Economic Assessment study this fall.
News: Corvus Gold Acquires Mother Lode Property from Goldcorp, 10 Kilometres Southeast of the North Bullfrog Project, Nevada 

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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:

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: Pershing Gold + Rye Patch Gold + Osisko Gold Royalties + Endeavour Silver + Fission Uranium + Sierra Metals + Sibanye Gold + US Gold + Corvus Gold.

Swiss Resource Capital AG has closed IR consultant contracts with the following companies which are mentioned in this publication: Pershing Gold + Rye Patch Gold + Osisko Gold Royalties + Endeavour Silver + Fission Uranium + Sierra Metals + Sibanye Gold + US Gold + Corvus Gold.

This publication is based on Swiss Resource Capital‘s detailed risk notes, liability limitations and disclaimers, which can be viewed here: Link to SRC’s risk notes and disclaimer
Not for use in the USA. Only the German original version is valid. No assurance for translation.  This is only for your information and no financial advise. German Disclaimer

Hinweis gemäß §34 WpHG (Deutschland) und gemäß § 48f Abs. 5 BörseG (Österreich) sowie Art. 620 bis 771 Obligatorenrecht (Schweiz) zu bestehenden Interessenskonflikten der Swiss Resource Capital AG und der Autoren der Swiss Resource Capital AG:
Sowohl die Swiss Resource Capital AG, als auch die Autoren der Swiss Resource Capital AG halten aktuell Aktien von Unternehmen, die in dieser Publikation erwähnt wurden. Es besteht somit ein Interessenskonflikt nach oben genannten Paragraphen. Ferner beabsichtigen sowohl die Swiss Resource Capital AG, als auch die Autoren der Swiss Resource Capital AG in naher Zukunft, sich von Aktienbeständen zu trennen und damit von steigenden Kursen und/oder erhöhter Liquidität der jeweiligen Aktie zu profitieren. Zudem behalten sich sowohl die Swiss Resource Capital AG, als auch die Autoren der Swiss Resource Capital AG vor, jederzeit Aktien von Unternehmen, die in dieser Publikation erwähnt wurden zu kaufen oder zu verkaufen, auch unabhängig von einer Berichterstattung in Publikationen der Swiss Resource Capital AG. Auch hieraus ergibt sich ein entsprechender Interessenskonflikt nach §34 WpHG (Deutschland) und gemäß § 48f Abs. 5 BörseG (Österreich) sowie gemäß Art. 620 bis 771 Obligatorenrecht (Schweiz).
Ferner machen wir darauf aufmerksam, dass die Swiss Resource Capital AG IR-Beratungsverträge (Übersetzungen, Organisieren von Roadshows, Unterstützung bei der Suche nach Investoren bei Kapitalerhöhungen etc.) mit, in dieser Ausgabe erwähnten Unternehmen geschlossen hat und daraus ebenfalls Interessenskonflikte nach §34 WpHG (Deutschland) und gemäß § 48f Abs. 5 BörseG (Österreich) sowie gemäß Art. 620 bis 771 Obligatorenrecht (Schweiz) bestehen.
Die Swiss Resource Capital AG sowie die Autoren der Swiss Resource Capital AG halten aktuell Aktien an folgenden, in dieser Ausgabe erwähnten Werten: Pershing Gold + Rye Patch Gold + Osisko Gold Royalties + Endeavour Silver + Fission Uranium + Sierra Metals + Sibanye Gold + US Gold + Corvus Gold.
Die Swiss Resource Capital AG hat mit folgenden, in dieser Ausgabe erwähnten Unternehmen IR-Beratungsverträge geschlossen: Pershing Gold + Rye Patch Gold + Osisko Gold Royalties + Endeavour Silver + Fission Uranium + Sierra Metals + Sibanye Gold + US Gold + Corvus Gold.

Diese Publikation basiert auf den ausführlichen Risikohinweisen, Haftungsbeschränkungen und Disclaimern der Swiss Resource Capital AG, die hier eingesehen werden können:
Risikohinweis und Disclaimer SRC AG
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