|Stock of the week: Panoro Minerals
Panoro Minerals announces positive PEA for Antilla project
A short time ago, Panoro Minerals announced, that it has received the results of an independent Preliminary Economic Assessment ("PEA") of the Company's 100% owned Antilla project in Peru. The Antilla project is a copper-molybdenum porphyry deposit, located 140 km south west of the city of Cuzco, in the Apurimac region in Southern Peru.
- Pre-tax Estimates:
- NPV (7.5%) of US$ 519.8 million;
- IRR of 34.7%; and
- Payback of 2.6 years.
- After-tax Estimates:
- NPV (7.5%) of US$ 305.4 million;
- IRR of 25.9%; and
- Payback of 3.0 years.
Crude oil top, precious metals flop!?
While the prices for crude oil climbed to prices of US$80 per barrel and above, which was mainly caused by growing uncertainties concerning the smashed US Iran nuclear deal and also growing stresses between Iran and Israel, the precious metals prices didn’t please investors. Platinum below US$900, Palladium below the psychological important level of US$1,000, gold below US$1,300 and silver at around US$16.20 per ounce – a reason for panic? Not at all, even though especially palladium and gold (support at US$1,310 didn’t last) provide cause for concern and will maybe slide down to US$900 and US$1,240, where the next big support levels are.
However, there is some reason for hope, because from a chart technical perspective, gold still resides in its upwards trend, which started at the beginning of 2016. Silver is even more exciting, because the silver price still runs into a closing triangle, which may end into a big breakout by the end of this year. The important support at US$16.20 recently lasted again, while the rebound strengthened this support once more. Investors should now try to come through the seasonal weak summer months, before one can start fighting again in fall. From a geopolitical standpoint, gold should get more support, like the recent conflicts Middle East and maybe also in Korea impressively showed.
EnWave signs Technology Evaluation and License Option Agreement
Fission Uranium delivers more top-class drill-results!
A couple of days ago, EnWave announced, that the Company has signed a Technology Evaluation and License Option Agreement (“TELOA”) with a food processing company based in a Nordic country to develop several dairy, vegetable, meat and seafood products using EnWave’s patented Radiant Energy Vacuum (“REV™”) dehydration technology. The Partner and EnWave signed the TELOA after several successful product development sessions conducted at the Company’s pilot plant facility in Vancouver, Canada. The Partner will now focus on the refinement of selected product applications and evaluate their commercial viability in both the Nordic market and abroad. The TELOA grants the Partner a six-month exclusive term to evaluate REV™ technology and potentially license its use in the Nordic country.
News: EnWave Signs Technology Evaluation and License Option Agreement with Nordic Food Processing Company
US Gold commences drill campaign
Fission Uranium recently announced assay results from all eight winter program holes drilled on the R1515W zone at its’ PLS property, in Canada's Athabasca Basin region. These include six holes with high-grade intervals, of particular note is hole PLS18-571 (line 1560W), which returned 94.5m of total composite mineralization including multiple high-grade intervals such as 5.0m @ 7.14% U3O8 in 18.0m @ 2.44% U3O8 and 3.0m @ 5.98% U3O8 in 10.50m @ 1.97% U3O8. Importantly, these holes have better defined and expanded the known mineralized outline over 60m of strike length between lines 1560W to 1500W.
These final Winter exploration assays from the land-based R1515W zone, 2.3km west of the Triple R deposit’s central R780E zone, are a strong reminder of the zone’s potential for wide, high-grade mineralization at shallow depth.
News: Fission Expands R1515W Zone with Six High-Grade Holes
Caledonia Mining with high earnings in Q1!
US Gold Corp. recently announced the forthcoming Copper King drilling program for 2018. This program, comprised of two phases, will begin with an initial phase of 10 reverse circulation (RC) drill holes for a total of about 10,000 feet (3,050 meters). Primarily, the program will focus on last year’s newly discovered zone of mineralization, the West Zone, which was a 200-meter step out from the Main Zone at Copper King. The program will also target additional new discoveries on the Copper King project; drill testing several geophysical anomalies obtained from ground magnetics and IP (induced polarization) surveys conducted in 2017.
The mineralization at the Copper King deposit remains open in multiple directions.
News: U.S. Gold Corp. Plans to Commence 2018 Drill Programs at Copper King
Maple Gold Mines announces additional top-class results!
A couple of days ago, Caledonia Mining announced its operating and financial results for the first quarter of 2018. Gold production in the Quarter was 12,924 ounces, marginally higher than the first quarter of 2017 and in-line with expectations. Adjusted earnings per share of 40.1 cents were 51% higher than the corresponding figure in 2017, largely due to a higher realized gold price, and the increased export credit incentive. Operating cash flows for the Quarter were $7 million and the Company’s balance sheet remains strong with net cash of $13.4 million as at 31 March 2018.
News: Results for the Quarter ended 31 March 2018
Video: Caledonia Mining: Profiting From Higher Export Credit Incentive
A short time ago, Maple Gold Mines reported additional drill results from the Nika Zones located in the “NW Gap Area” between the Douay West, Porphyry and NW resource zones. DO-18-218 returned 50m grading 1.77 g/t Au (uncut) from 297m downhole (estimated 200m true vertical depth). The 50m intercept shows excellent continuity with few internal low-grade samples and more than twice the width and twice the grade expected as per the previous wireframe interpretation.
Maple Gold Mines can be very pleased with the early returns from the 2018 drill campaign. Defining the new Nika Zones and the additional success the company had in the NW Gap Area has the potential to add significantly to the resource base and brings the company a step closer to connecting some of the zones in this large intrusive related gold system.
News: Maple Gold drills 50 metres of 1.77 g/t Au and extends new Nika Zones in the NW Gap Area
Video: Maple Gold Mines: Exploring New Step-Out Target "Syenite Zone"
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