|Stock of the week:
First Cobalt generates CA$30.6 million
First Cobalt acquires additional, potentially high-grade licenses
As First Cobalt announced a short time ago, the company has issued on a bought deal basis 4,700,000 units of the Company at a price of CA$1.51 per Flow-Through Unit and 20,950,000 units of the Company at a price of CA$1.10 per Unit for aggregate proceeds of CA$30,142,000. In addition, concurrent with the closing of the Offering, the Company completed a non-brokered traditional flow through offering of 249,000 Flow-Through Units at a price of CA$1.33 per Flow-Through Unit for gross proceeds of CA$497,670.
The net proceeds of the Offering will be mainly used to advance the exploration and development of the Company’s mineral properties located in Ontario, Canada.
Therewith, First Cobalt is well financed for many months and will be able to clearly focus on its large exploration program.
First Cobalt Closes $30.6 Million Financing
First Cobalt announces further discoveries
First Cobalt also announced the purchase of five unpatented claims located in the North Cobalt region of the Cobalt Camp in Ontario near First Cobalt’s past producing Silver Banner and Ophir mines. Those claims, cover 750 hectares to the east of the historic Silver Banner and Ophir mines. Assay results from muckpile grab samples taken from Silver Banner included 1.14% Co, 0.69% Co and 0.47% Co.
This area of North Cobalt is of particular interest as some of the more significant past-producing cobalt mines are nearby, including the Silver Banner mine where First Cobalt already reported high grade cobalt samples.
News: First Cobalt Acquires Property Near Silver Banner
First Cobalt recently announced positive assay results from two holes intersecting cobalt mineralization on two separate veins in the Woods Extension area of the Cobalt Camp, Ontario. Highlights were 0.57% Co and 1.40% Ni over 0.40m in hole KF-WV-0003 on a new vein between the Woods and Watson veins and 0.34% Co over 0.40m in hole KF-WV-0007 in the Woods Extension Area representing a possible extension of the Watson vein system.
Sensational news for First Cobalt, as all drill holes in this area have hit meaningful values of cobalt or other metals and the mineralization is open along strike northward.
News: First Cobalt Reports Positive Drill Results from Woods Extension
Video: First Cobalt: Merging 3 Cobalt Companies Into One
Gold: upwards on the q.t. – Silver has backlog demand
Investors had much pleasure with the gold price over the Christmas holiday. Nearly unnoticed by the mainstream, the gold price jumped up to US$90 from its interim low on the 12th
of December 2017 to the last high at around US$1,330. There, the gold price was a little bit thwarted, but it had been able to snap a couple of important resistance marks, like at US$1,265 and 1,300. The next important resistance lies at the recent reached US$1,330 level. So, a bad sign, that gold (slightly) bounced off this recent mark? By no means, because from a seasonal perspective, January is one of the strongest months for gold and co. at all. Should gold be able to break through US$1,330 the way would be free to US$1,355 and even 1,375. In the opposite direction, there is a strong support at the psychological important US$1,300 mark, which could also lead to another significant price increase. In general, meanwhile corrections are always possible, however the named higher prices should clearly stay in focus.
By the way: the silver price has a large catch up potential, which can easily be seen at the historic high gold-silver-ratio of >77!
Video: Carsten Ringler: "Silver Is Rising Faster Than Gold In Bull Markets"
Palladium replaces platinum and will be replaced by platinum again?!
Less on the q.t., but noisier, the palladium price developed within the last months. Since the beginning of 2016, palladium doubled its price to a recent high of around US$1,100 per ounce. Thereby, the palladium price also passed the price for palladium. The main reason for this is a stronger demand from the automobile sector, where botch platinum and palladium are being used for catalysts. But, one should be careful now, because the original cheaper substitute palladium may be replaced again by platinum at the recent price difference.
Precious metals stocks drag behind precious metals prices
In the course of the friendly development at precious metals, along with strongly increased margins, both junior and senior producers should show significant increasing stock process, because they drag behind the equivalent precious metals prices. Furthermore, one can expect increasing dividends as well as more acquisitions. The latter mainly because of the fact, that many majors recently didn’t do much exploration and are therefore dependent on good projects from exploration companies. To that effect, 2018 should become an exciting year.
Klondex Mines announces new resource estimate for Fire Creek
Klondex Mines reduces production in True North Mine
In late 2017, Klondex Mines announced a new open-pit resource estimate for its Fire Creek Mine. The Indicated Mineral Resource has been estimated at 42.9M tons grading 0.026 AuEq opt (0.88 AuEq g/t) for a total of 1.1M AuEq ounces and the Inferred Mineral Resource estimate at 31.7M tons grading 0.035 AuEq opt (1.19 AuEq g/t) for a total of 1.1M AuEq ounces.
Klondex plans to provide a complete Mineral Reserve and Resource update, for all sites, during the first quarter of 2018.
News: Klondex Provides Exploration Update at Fire Creek
Klondex Mines recently announced, that it will reduce its current gold production at the True North Mine to the current developed areas. As far as these will be completely exploited, the company will set the mine into a care-and-maintenance status. This action became necessary as the mine cannot be run at current gold prices of US$1,300. At a gold price of US$1,500 the situation could be the very opposite.
Fission Uranium shines with top-class drill-results
EnWave signs two potentially top-class Technology Evaluation and License Option Agreements
A short time ago, Fission Uranium announced the remaining assay results from its summer 2017 program at its’ PLS property in Canada's Athabasca Basin region. The final three holes to report targeted the shallow, high-grade R780E zone as part of a metallurgical study for use in a pre-feasibility study on the high-grade Triple R deposit. Of particular note are the results from hole PLS17-MET-C (line 660E), which intersected 144.0m of total composite mineralization, including a continuous interval of 108.0m @ 8.46% U3O8, the widest continuously mineralized intervals drilled on the Triple R deposit to date.
This included an intercept of 8.5m @ 27.66% U3O8, which can kindly be titled “top-class”!
News: Fission Hits One of the Strongest Holes to Date at PLS
In quick succession, EnWave signed two potentially top-class Technology Evaluation and License Option Agreements (TELOA).
GoldMining acquires potentially top-class gold claims
According to this, the company has signed a Technology Evaluation and License Option Agreement with Seven Seas Fish Company Limited, a leading Canadian seafood manufacturer and international distributor. The TELOA grants Seven Seas an exclusive six-month term to evaluate the use of Radiant Energy Vacuum (“REV™”)
technology for the production of high-value, premium fin fish and other seafood snacks in British Columbia, Canada. A small-scale REV™ machine will be installed at Seven Seas’ facility in February 2018, which will trigger the commencement of the exclusive term.
In addition to this, EnWave has signed a Technology Evaluation and License Option Agreement with Calbee Incorporated, the largest snack food manufacturer in Japan. After multiple site visits and extensive preliminary trials at EnWave’s facilities in Canada, Calbee decided to enter a TELOA to exclusively evaluate several snack food applications at their facilities using lab-scale Radiant Energy Vacuum (“REV™”) technology.
This is the first TELOA signed by EnWave with a Japanese food manufacturing company and represents an important milestone for the Company, because it could lead to an entrance in the important as large Japanese mass market.
News 1: EnWave Signs Technology Evaluation and License Option Agreement with Seven Seas Fish Company Limited
News 2: EnWave Signs Technology Evaluation and License Option Agreement with Calbee Incorporated
Video: EnWave: Expanding Business To Marihuana Producers
Rye Patch Gold drastically expands gold production
GoldMining Inc’s success story continuous. As the company recently announced, it has entered into an agreement with Viking Gold Exploration Inc. to indirectly acquire the Maguire Lake property. The Property includes the RG1, RG2 and RG3 claims, which cover a total area of 1,797.6 hectares and are contiguous with the western boundary of the Company's Nicholas Lake-Ormsby property, one of the four properties that comprise the Yellowknife Gold Project, which the Company acquired in July 2017. Pursuant to the Agreement, GoldMining has to issue only 60,000 common shares of the Company in consideration for the Property. A bargain price for the fact that the property is located only approximately 2 kilometers west of the historic Discovery Mine. Total historic production from this high-grade, underground gold mine between 1949 and 1968 was estimated to have been approximately one million ounces of gold.
News: GoldMining to Acquire Additional Gold Claims Contiguous with its Yellowknife Gold Project for a Total Area of 11,502 Hectares
Maple Gold Mines starts winter drilling campaign
Rye Patch Gold recently reported Q4 2017 production metrics at the Company’s flagship Florida Canyon mine in Pershing County, Nevada – and they were absolutely exciting!
Gold production continued its upward trend, increasing 31 percent in Q4 compared to Q3. In December, gold production was 4,069 ounces of gold and 1,996 ounces of silver. Total precious metal production for the fourth quarter was 10,470 ounces of gold and 5,447 ounces of silver. Furthermore, 25,434 ounces of gold have been placed on the leach pad.
Therewith, Rye Patch Gold continuous its successful production at the Florida Canyon Mine and should be able to announce further exciting results in the coming quarters.
News: Rye Patch Gold announces Florida Canyon Q4 2017 production
Maple Gold Mines recently provided an update on exploration activities and the upcoming winter drilling campaign. The Company’s team of eight geologists have now re-logged over 18,000 meters (m) from selected higher-grade sections throughout the Resource Areas, and are preparing for the 25,000 – 30,000m drilling program that will start on or about January 15. The updated camp, capable of accommodating up to 75 people, is in place and the first drilling contract has been signed with equipment being mobilized to site.
Therewith, investors could be pleased by hopefully spectacular drill results within the next weeks and months.
News: Maple Gold Finalizes Drilling Plans and Prepares to Commence Winter Drilling Campaign
Video: Maple Goldmines: Gold Development In The Abitibi Greenstone Belt
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