Metanor Resources Inc.

Barry Extended West With 7.4g/t Over 4.4m

Impact: Mildly Positive

Metanor Resources has released new results from the ongoing drill campaign at the Barry project, located in the Urban-Barry camp in Quebec.

  • Highlights from this round of results include: 7.4g/t Au over 4.4m, 7.1g/t over 4.2m, 9.4g/t over 2.9m and 8.2g/t over 2.6m
  • Drilling succeeded in purpose of expanding the deposit to the west and at depth, demonstrating strong continuity of the mineralized system
  • The Barry ramp, which will provide access to both underground drill bays and extraction of the bulk sample program in Q4 2018, is progressing on schedule with approximately 300m of advancement to date
Bonterra Resources has recently announced that its has entered into a binding letter of intent to acquire Metanor for ~C$0.65/share in an all share transaction (1.6039 Bonterra shares for each Metanor share), representing a 8% premium to last close of C$0.60/share, which reflects further upside to the current share price should the transaction be completed.


SolGold Plc.

Strong Mineralisation 30m below Surface at Cascabel

Impact: Mildly Positive

SolGold has provided an update on the drilling programs at the Alpala and Aguinaga deposits at the Cascabel Cu-Au project in Ecuador.

  • Extension drilling at the high-grade core is expected to extend the mineralization along the lower and northeast margins of the deposit. Results included 0.71% CuEq over 458m (incl. 1.17% CuEq over 66m) 
  • Shallow mineralization continues to be intersected by extension drilling at Alpala Central within 450m of the surface, above the existing resource limits along the southwest margin of the deposit and 250m shallower than previously modeled
  • Drilling at Aguinaga has confirmed near surface potential, with Hole 6 intersecting strong mineralization at 30m depth and Hole 7 intersecting 67m of visual copper sulphide mineralization from 55m below surface
In our view, the SolGold's current valuation (C$0.034/lb vs. peers at C$0.026/lb CuEq) does not properly reflect the exceptional nature of the existing Cascabel project, its the meaningful exploration upside or the company’s portfolio of exploration projects in Ecuador.


eCobalt Solutions Inc.

eCobalt Provides Construction Update

Impact: Mildly Positive

eCobalt Solutions has provided an update on the construction progress at its 100% owned Idaho Cobalt Project.
  • Crucial equipment has been delivered to site for the construction of environmental systems; the main transformer has been energized with the installed grid power now operational
  • The concrete plant is on site and the company has begun constructing foundations for the Water Treatment Plant (WTP); also in progress is the installation of liners for the Tailings Waste Storage Facility (TWSF) and water management ponds
  • eCobalt’s objective is to ensure all environmental systems are in place to manage mine water and waste rock prior to commencing underground operations; activities are being funded by proceeds of the February 2018 public offering and, due to weather delays earlier this spring, are now anticipated to be completed in early Q4 2018
We view eCobalt as one of the few companies positioned to meet the near-term increase in cobalt demand, taking advantage of the current upswing in metal prices. The project’s location, in the U.S., places it in a mining friendly jurisdiction with low political risks versus other cobalt developers.


Red Pine Exploration Inc.

New Zone Discovered at Wawa Gold Project

Impact: Mildly Positive

Red Pine Exploration has announced results from 22 new holes drilled at its Wawa Gold Project as a part of its 30,000m 2017-2018 drill program and has discovered a new mineralized zone (Minto Lower Zone) parallel to the Minto Mine South Zone.
  • Highlights include: 4g/t Au over 2.2m (SD-18-213) and 76g/t Au over 1.6m (SD-18-212); another new gold zone was discovered in the footwall of the Surluga Deposit, including 2.54g/t Au over 5.4m (SD-17-153)
  • The new Minto Lower Zone extends for over 1.5km and 3D modeling suggests it may be associated with the historic Parkhill Mine, which had an average recovery grade of 8.57-10.28g/t Au
  • The Minto Lower Zone correlates with the company’s understanding of the mineralization of the project and reflects the exploration potential of the property
Red Pine currently trades at a discount to peers (C$26/oz vs. peers at C$49/oz), valuation does not reflect the exploration upside we believe the property has.


Anaconda Mining Inc.

Q2 Production Beats Estimates; Withdraws Bid

Impact: Positive

Anaconda Mining Inc. (TSX:ANX) has announced Q2 2018 production results which were ahead of our expectations. In addition, Anaconda announced the withdrawal of its bid for Maritime Resources, which should remove the arbitration overhang.
  • Anaconda produced 4,632oz and sold 4,330oz in Q2, exceeding our estimate of 3,439oz of Au by 26% (Figure 1). The beat was as a result of better than expected grades, however this includes processing low-grade stockpiled ore from the Pine Cove pit and the company is expecting even higher grades in H2 2018 as ore feed becomes predominately sourced from Stog’er Tight
  • The Pine Cove Mill achieved record throughput of 121,299t (1,350tpd) exceeding our estimate of 1,300 tpd. The average head grade of 1.38g/t was ahead of our our estimate for 1.10g/t Au
  • With 8,856oz produced in H1 2018, the company is on track to beat 2018 guidance of 18,000oz Au, particular since we expect better grades in H2 2018 as the transition to Stog’er Tight is completed. We now model 20,230oz in 2018 (was 19,220oz)
  • As a result of this operational beat we now model revenue of C$33.5M (was C$31.5M), CFPS of C$0.013 (was C$0.0042) for Q2 2018 and a quarter end cash balance of C$9.4 M (was C$8.8M). Our estimate includes the recent ~C$4.5M equity financing, which is expected to fund an aggressive exploration program at Point Rouse and Goldboro
As a result of Anaconda withdrawing its bid for Maritime Resources and beating our Q2 production estimate, we have revised our NAVPS for Anaconda to C$1.00/sh (was C$1.11/sh). The exclusion of Maritime’s Green Bay property from our NAV was partially offset by stronger operating results from Point Rousse in Q2. The company remains attractively valued trading at 0.36x NAV (peers 0.70x).

Top Stories

Search All Posts


  1. Company Comment
    • (1)
    • (2)
    • (3)
    • (4)
    • (5)
    • (6)
    • (7)
    • (8)
    • (9)
    • (10)
    • (11)
    • (12)
    • (13)
    • (14)
    • (15)
    • (16)
    • (17)
    • (18)
    • (19)
    • (20)
    • (21)
    • (22)
    • (23)
    • (24)
    • (25)
    • (26)
    • (27)
    • (28)
    • (29)
    • (30)
    • (31)
    • (32)
    • (33)
    • (34)
    • (35)
    • (36)
    • (37)
    • (38)
    • (39)
    • (40)
    • (41)
    • (42)
    • (43)
    • (44)
    • (45)
    • (46)
    • (47)
    • (48)
    • (49)
    • (50)
    • (51)
    • (52)
    • (53)
    • (54)
    • (55)
    • (56)
    • (57)
    • (58)
    • (59)
    • (60)
    • (61)
    • (62)
    • (63)



Red Cloud Klondike Strike Inc. is registered as an Exempt Market Dealer (EMD) in British Columbia, Alberta, Saskatchewan, Manitoba, Ontario, Quebec, New Brunswick, Nova Scotia, Prince Edward Island, Newfoundland & Labrador, and Yukon.


By accessing this website you agree to be bound by our Terms of Use and Privacy Policy.


Red Cloud Klondike Strike Inc. connects mining companies with suitable investors that qualify under available regulatory exemptions. For example, in Canada, according to National Instrument 45-106, Prospectus and Registration Exemptions. Similar laws and regulations apply in other jurisdictions. Companies presented on this website are considered to be highly speculative and, as such, are suitable only for purchasers who can tolerate the highest level of risk including the loss of their entire investment.

© Copyright 2018 Red Cloud Klondike Strike Inc. All rights reserved.