RCKS Talk

11-Apr-2018

Osisko Metals Inc.

Drilling at Gilmour South Confirms Continuous Zone

Impact: Mildly Positive

 Recent drilling success has lead the company to plan to extend drilling at Gilmour South and focus on further expansion.

  • Mineralization re-interpreted to be continuous, extending over 1.4km.
  • Gilmour South bears similarities to past producing Brunswick No. 6 & 12 mines.
  • Extensive exploration programs planned for both Bathurst Mining Camp and Pine Point. 
Osisko Metals remains well-positioned and funded to advance exploration in both the Pine Point and Bathurst Mining Camps.

11-Apr-2018

Marlin Gold Mining Ltd

Drilling Expands Pearce Hill

Impact: Positive

Results from Pearce Hill have expanded the Footwall Zone, supporting our view that resource expansion is likely.

  • Drilling increases strike length of the Footwall zone to 525m
  • Continued success at Pearce Hill has significant potential to expand resources
  • Exploration continues, metallurgical testing results key  
These drilling results from Pearce Hill reflect the exploration upside at the Commonwealth project, which currently represents 51% of our pre-tax NAV for MLN shares. Based on our estimates, we believe Marlin is trading at a slight discount to peers (0.56x NAV, peers 0.57x) which does not properly account for the optionality of the expected significant near-term cashflow.

 

11-Apr-2018

Mawson Resources Ltd.

Mawson Continues to Demonstrate Potential at Rajapalot

Impact: Positive

Mawson continues to discover high-grade mineralization at Rajapalot through drilling, which has expanded the mineralized footprints of each prospect.

  • Mawson hits 23.1m grading 3.4 g/t Au at Raja prospect
  • Drilling at the other four prospects returned gold intersections
  • Plenty of upside as remaining <75% of assays are released 
With three diamond drill rigs and one base-of-till operating 24/7, we expect results from ongoing drilling to be an upcoming catalyst for the company, as it looks to build a maiden resource.

11-Apr-2018

Brixton Metals Corp.

More High-Grade Ag & Co Results from Hudson Bay

Impact: Mildly Positive

Drill results from Hudson Bay are encouraging, intersecting additional high-grade silver and cobalt mineralization.

  • Drilling continues to intersect high grade silver and cobalt mineralization at Hudson Bay.
  • Past producing Hudson Bay leverages both silver and cobalt markets.
  • More results pending, additional high-grade intercepts expected to be key near-term catalyst. 
 
Based on peers in the Cobalt Camp, we believe Brixton remains undervalued, for example First Cobalt (TSXV:FCC) trades at C$0.017 EV/ha, while Brixton trades at C$0.004 EV/ha.

 

09-Apr-2018

Metanor Resources Inc.

Metanor Hits 51g/t over 4.8m at Moroy

Impact: Positive

Metanor continues to add value to its operating Bachelor mine with ongoing drilling and development reaching the two known Moroy veins. 

  • Underground development has reached Moroy veins on level 11
  • Drill results demonstrate continuity and extend Moroy mineralized structures
  • Adding ounces at Moroy and Barry likely to lead to a mill expansion
 
With the only permitted mill and an expectation for meaningful resource growth, Metanor’s $53M market cap (EV$ 42M) suggests it is undervalued, relative to other Urban-Barry camp peers.

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