|Stock of the week: Endeavour Silver
Endeavour Silver presents drastic production increase
Endeavour Silver recently reported its production results for the First Quarter, 2018 from the Company’s three silver-gold mines in Mexico: the Guanaceví mine in Durango state and the Bolañitos and El Cubo mines in Guanajuato state. Silver production in the First Quarter, 2018 increased 25% to 1,350,840 ounces (oz) compared to 1,076,974 oz silver in Q1, 2017 and gold production rose 13% to 13,208 oz compared to 11,724 oz gold in Q1, 2017, resulting in silver equivalent production of 2.3 million oz using a 75:1 silver-gold ratio.
The First Quarter production was much improved over last year. As a result, the company is on track to deliver higher production and lower costs in 2018 thanks to improved operating performance at each of the three existing mines and the development of the fourth mine at El Compas into commercial production by the end of July.
Video-Interview: Endeavour Silver: Guidance Of 20% Higher Production In 2018
Silver: breakout one (last?) time prevented
Last Friday it seemed that it has ultimately come: the silver price made a huge jump upwards and scratched at the upper line of the closing triangle, into which the silver price runs since mid-2016. The important mark of US$17.30 per ounce hasn’t finally been conquered and therefore another upwards rebound happened. But the long-awaited outbreak shouldn’t be a long time coming. At the beginning of the season at the latest at July, this triangle will close, and a sustainable, impulsive outbreak is indicated. From a chart-technical perspective, it looks as this time, not gold, but silver would be the “draft horse” for the essential impulse, which will lift the whole precious metal sector upwards. The most important precious metals indices HUI, XAU, GDX and GDXJ are one step further and are already indicating a new start-up to old highs.
Video: Ronald Stöferle: Gold In Times Of Inflation & Upcoming Recession
Sibanye-Stillwater refinances and upsizes credit facility
Caledonia Mining increases gold production
A couple of days ago, Sibanye-Stillwater announced, that it has refinanced its United States Dollar Revolving Credit Facility on improved terms. The new facility has been increased from US$350 million to US$600 million thereby providing enhanced liquidity for the enlarged Group. The new US$600 million RCF replaces the US$350 million RCF that was due to mature on 23 August 2018.
The new facility maturity is three years, with lenders having the option to extend the facility tenor through two further one-year extensions on request from Sibanye-Stillwater. Interest is on a sliding scale between Libor plus 1.85% and Libor plus 2.00% dependent on gearing ratios. Furthermore, the company has an option to increase the facility size by a further US$150 million to US$750 million.
This clearly shows, that the banking syndicate has the opinion, that the company will positively develop in the coming years.
News: Sibanye-Stillwater refinances and upsizes its USD Revolving Credit Facility
Video-Interview: Sibanye Stillwater: Strengthening Production Profile
Auryn Resources expands gold mineralization
Caledonia Mining recently announced its quarterly gold production from the Blanket Mine in Zimbabwe for the quarter ended March 31, 2018. Approximately 12,924 ounces of gold were produced during the Quarter, in line with production expectations for 2018 and 1% more than one year ago.
Caledonia maintains its 2018 full year production guidance of 55,000 ounces to 59,000 ounces and remains on track with progress towards its long-term target of 80,000 ounces by 2021.
News: Quarterly Production Update
Auryn Resources expands land position
A short time ago, Auryn Resources announced drill results from its initial five drill holes at the Huilacollo oxide gold project in southern Peru. Drilling successfully expanded mineralization to the northwest by 100 meters with drill hole 17-HUI-002 intersecting 62 meters of 0.45 g/t Au (including 22 meters of 0.71g/t Au) oxide mineralization from surface and drill hole 17-HUI-004 intersecting 22 meters of 0.2 g/t Au 100 meters to the southwest from hole 17-HUI-002. Although hole 17-HUI-002 encountered lower grades of mineralization, it demonstrates the system is open to the northwest.
Only two conceptual targets adjacent to the existing mineralization were drilled in a short 1,500-meter program completed prior to the rainy season. Numerous targets across the property remain untested.
News: Auryn Resources expands oxide gold mineralization at the Huilacollo project, Peru
Video-Präsentation: Auryn Resources: Focusing On Discovery Value Creation
Copper Mountain Mining announces positive quarterly results
Furthore, Auryn Resources announced, that it has completed a long-term access agreement with the Huancasancos Community which covers approximately half of the 2016 Sombrero claims located in southern Peru. The agreement gives Auryn surface access where exploration programs are underway in anticipation of an initial drill campaign. The Company has also expanded its land position by a total of 34,180 hectares through staking ground contiguous to the project area creating a 47,320-hectare district scale land position.
The Sombrero Project represents a major discovery opportunity for Auryn shareholders because of the scale of the project, the high grades observed on surface and the prolific region in Peru where it is located.
News: Auryn initiates work and expands land position at the Sombrero Gold and Copper Project
EnWave announces repeat order from wholesale giant Costco
A few days ago, Copper Mountain Mining announced production results for Q1 2018 from the Copper Mountain Mine, located in southern British Columbia. Thereby, the production was absolutely on track with 23.2 million pounds of copper equivalent during the quarter.
The operation performed well during the quarter despite the abnormally high snow fall causing some challenges in the pit and a minor disruption in power supply. These challenges were handled well by the crew which has kept the company on track to meet its 2018 production guidance of 80 million pounds copper.
News: Copper Mountain Announces Q1 2018 Production Results
EnWave signs agreement with cannabis producer
EnWave recently announced, that NutraDried Food Company, LLC, a wholly owned subsidiary of the Company, has received a second purchase order for its Moon Cheese® snack product from Costco Wholesale Corporation’s Pacific Northwest division after the initial rotation launch at the beginning of April 2018. The Company previously announced the first purchase order and product rotation in Costco’s Pacific Northwest division in a press release dated March 14, 2018.
The recent repeat purchase orders from Costco’s Pacific Northwest division along with the Midwest division demonstrates the success of club format packaging of Moon Cheese® in the Costco system. NutraDried will continue to pursue expanded distribution with Costco through both additional repeat orders and potential expansion into other Costco divisions. Each Costco purchase order represents significant revenue growth for NutraDried.
News: EnWave Receives First Repeat Costco Order from Pacific Northwest Division for Moon Cheese
First Cobalt evaluates conditions for a re-start of its refinery
Furthermore, EnWave announced, that the Company has signed a Technology Evaluation and License Option Agreement (“TELOA”) with one of Canada’s largest licensed cannabis producers (the “LP”) to enable the LP to evaluate EnWave’s patented Radiant Energy Vacuum (“REV™”) technology for rapid decontamination and dehydration of cannabis. Under the terms of the TELOA, EnWave has granted the LP a six-month term to evaluate and refine processes using REV™ for cannabis decontamination and dehydration, and an exclusive option to license REV™ for processing cannabis in a country in Europe. The LP will rent a pilot-scale REV™ machine during the term of the TELOA to facilitate the evaluation of EnWave’s technology.
The TELOA extends EnWave’s continued success in pursuing additional opportunities to serve the rapidly growing global medical and recreational cannabis market.
News: EnWave Signs Technology Evaluation and License Option Agreement with a Top Canadian Cannabis Producer, Granting an Exclusive Option to use Radiant Energy Vacuum Technology in a European Country
Maple Gold Mines identifies new gold zone within known gold veins
First Cobalt recently announced, that it has initiated a study of the First Cobalt Refinery, located in the Canadian Cobalt Camp, intended to help the Company estimate the capital requirements for a future restart and expansion of the Refinery.
The First Cobalt Refinery is a unique and strategic asset that is fully permitted to process North American feedstock. As the company moves forward with proposed acquisition of US Cobalt and ongoing studies of early cash flow opportunities in the Cobalt Camp from historic muckpile material, this Refinery study will drive First Cobalt closer to its goal of being a vertically integrated North American cobalt company.
News: First Cobalt Initiates Study on Refinery Restart Requirements
Maple Gold Mines recently provided an update on the ongoing winter drilling campaign. The program has ramped up with eight diamond core drill rigs now actively testing all target areas (Resource Area, NE Syenite and NW Syenite targets). One of the Company’s high-priority targets is the area between the Porphyry, Douay West and NW zones, now referred to as the “Nika Zone”, which has a lower drill-hole density and strong potential for new discoveries and extensions of existing resource zones. The Company has received results from four drill-holes in this area, with highlights below:
Maple Gold Mines closes private placement
- DO-18-217: 104m of 0.44 g/t Au from 284m, including 17m of 1.08 g/t Au from 309m (additional assays pending);
- DO-18-218: 13.2m of 0.86 g/t Au from 409.8m, collared 133m SE of DO-18-217 (additional assays pending)
Maple Gold Mines also recently announced, that it has completed a non-brokered private placement financing for aggregate gross proceeds of CA$3,950,000 through the issuance of 16,458,334 common shares at a price of CA$0.24 per share.
The Company intends on using the net proceeds from the private placement to continue advancing the Douay Gold Project and for general corporate purposes.
News: Maple Gold announces closing of $3,950,000 private placement
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