|Stock of the week: Osisko Gold Royalties
Osisko Gold Royalties with another top-class deal!
Osisko Gold Royalties recently announced one of the largest deals of its history.
A few days ago, the company announced that it has entered into a binding term sheet to provide Falco Resources Ltd. with a senior secured silver stream credit facility with reference to up to 100% of the future silver produced from the Horne 5 property located in Rouyn-Noranda, Québec from Falco. As part of the Silver Stream, Osisko will make staged upfront cash deposits to Falco of up to CA$180 million and will make ongoing payments equal to 20% of the spot price of silver, to a maximum of US$6 per ounce.
Horne 5 is a development-stage project located in Rouyn-Noranda, Québec. Horne 5 is located in the former Horne mine that was operated by Noranda from 1927 to 1976 and produced 11.6 million ounces of gold and 2.5 billion pounds of copper. Falco completed a feasibility study for the Project in 2017 that demonstrated positive economics and estimated annual payable gold production of 219,000 ounces at US$399 per gold ounce over a 15-year life of mine. Falco is currently in the permitting process and working on obtaining all third-party approvals to advance project construction. Osisko is the largest shareholder of Falco and currently owns 12.7% of its issued and outstanding common shares of Falco.
This recent announcement marks the beginning of a new chapter in the history of Osisko. Although this deal seems to be a little bit risky, the Horne 5 Silver Stream takes the company’s accelerator model from concept to reality and validates the effort its team has put forward in supporting the advancement of the Project through the development and the feasibility study.
News: Osisko Acquires Silver Stream From Falco in Respect to the Horne 5 Project in Rouyn-Noranda, Quebec
Osisko Gold Royalties Presentation At The Osisko Dinner In Zurich
Osisko Gold Royalties: Over 130 Royalties, Streams & Metal Offtakes In The Portfolio
Silver: all going according to plan!
Silver is going according to plan. Although the spot price saw some decrease – like the big brother gold – the important support at US$16.20 was defended. Now, from a chart technical perspective, there is another significant chance for a further tapering of the closing triangle of the 3-year-chart and also for a heavy breakout into the range of US$18.50 and furthermore to the 3-year-high at US$20.50. From mid-August on, the strongest seasonal phase for silver will begin, which fits perfectly to the chart technical triangle formation.
It is a little bit similar with the gold price. It could be pressed till US$1.250 to stay into the upward trend channel but shouldn’t stay below on a weekly end basis. Speaking of weekly end basis: the weakly trading Friday, the 15th
June 2018 has been used to take heavy pressure on the gold price. Within only 4 hours, 260,000 gold futures have been sold into the market – worth 34 billion US$! An abstruse number, however, the gold price fell only 20 US$.
On the other side there are some rumors, that there is a big buy order of around 5tions from China for a gold price below US$1,300. This plus new fears about the next Euro crisis, and a gaining inflation in the US give the opportunity for the start of a new gold rally from July on.
Gold – Does It Start Now?
Endeavour Silver plans to create US$35.7 million
TerraX Minerals appoints Suda as President and CEO
Endeavour Silver recently announced, that it has entered into a sales agreement dated June 13, 2018 with BMO Capital Markets, CIBC Capital Markets, H.C. Wainwright & Co., HSBC and TD Securities Inc. pursuant to which the Company may, at its discretion and from time-to-time during the term of the Sales Agreement, sell, through the Agents, such number of common shares of the Company as would result in aggregate gross proceeds to the Company of up to US$35.7 million. Net proceeds of the Offering, if any, together with the Company’s current cash resources and free cash flow, will be used to advance its Terronera project and for general corporate purposes.
This sounds like a sign for a positive production decision.
News: Endeavour Silver Announces At-The-Market Offering of up to US$35.7 Million
Newsflash: Newsflash #76 With Endeavour Silver & Auryn Resources
MAG Silver: All resolutions accepted!
A few days ago, TerraX Minerals announced that David Suda has been appointed as President and Chief Executive Officer of the Company, effective immediately. Mr. Suda will work closely with Joseph Campbell, the Executive Chairman of TerraX, to help lead the company towards continued success in discovery while enhancing the Company’s profile within the investment community. David Suda has over 11 years of capital markets experience. He graduated with honours from York University with a Bachelor’s Degree in Environmental Studies. Most recently, Mr. Suda was Head of Trading and Managing Director at Beacon Securities. He has established relationships with investors including institutional managers and public companies. His extensive capital markets experience with a focus on public resource-based companies will provide TerraX access to a skill set which includes marketing, corporate strategy and investment banking.
David Suda’s appointment is an exciting milestone and comes at an integral time for TerraX. His people-focused leadership style and capital markets experience will improve the company’s ability to finance and fully capitalize on TerraX’s exploration successes and exceptional opportunities.
News: TerraX appoints David Suda as President and CEO
GoldMining joins TSX
A short time ago, MAG Silver reported that at its annual general and special meeting (the “AGSM”) held on June 14, 2018, MAG’s Shareholders approved by majority: to elect all eight directors standing for re-election; to re-appoint Deloitte LLP as the Company’s auditor; and to approve amendments to the Advance Notice Policy.
News: MAG Reports AGSM Results
Panoro Minerals reports excellent drill results
A couple of days ago, GoldMining announced that it has received final approval from the Toronto Stock Exchange for the listing of its common shares and common share purchase warrants expiring December 31, 2018 on the TSX.
The TSX is a significant marketplace for international capital and a premier stock exchange for resource companies. This new listing will elevate the visibility of the Company, attract new interest and improve access to capital markets.
News: GoldMining Inc. Announces Graduation to TSX
Auryn Resources with top-class drill results
First Cobalt extends mineralized zone at Iron Creek
Panoro Minerals recently reported additional assays results for six drill holes from its 100% owned Cotabambas porphyry copper-gold-silver project located in southern Peru.
The results included an approximately 250-meter-long intercept of between 0.19 and 0.25% Cu.
The drill holes have intersected additional oxide and primary sulphide mineralization at the Maria Jose 1 & 2 Targets and the Petra Target. The intersection of skarn mineralization at the Petra Target has been newly identified. Additional drilling is planned in these areas in 2018.
News: Panoro Minerals Reports Results of the Drilling Program at Cotabambas Project, Peru
Video-Presentation: Panoro Minerals: Developing Two Copper Projects In Peru
First Cobalt recently announced that drill results from the Iron Creek Project in Idaho, USA continue to extend cobalt mineralization in the Waite Zone by an additional 50 meters to the west as well as to surface. The Waite Zone lies south and parallel to the historic No Name Zone. Mineralization has also been intercepted beyond the footwall of the Waite Zone, providing new targets for future drilling.
High grade intercepts occur within longer intervals of mineralization including 0.52% Co and 1.10% Cu over 4.6 meters within 37.8 meters grading 0.12% Co and 0.41% Cu in the Waite Zone. Several mineralized intercepts were found in the footwall of the Waite Zone, including 0.33% Co over 10.2 meters, reflecting new mineralization that will be tested in follow up drilling
A metallurgical study commenced to assess concentration methods and resulting recoveries for cobalt and copper.
First Cobalt puts the pedal to the metal! Right after the acquisition of US Cobalt, the company extends the mineralized zone of the old US Cobalt project. Hopefully more to come!
News: First Cobalt Extends Mineralization at Iron Creek and Initiates Metallurgical Study
Newsflash: Newsflash #75 Exploration Special With Maple Gold Mines & First Cobalt
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