RCKS Talk

18-May-2018

RCKS Charts

Eight Names with Interesting Technicals

In this edition of RCKS Charts, Keith has evaluated Lion One Metals (TSXV:LIO), Global UAV Technologies (CSE:UAV), Solgold Plc (TSX:SOLG), Moneta Porcupine Mines Inc. (TSX:ME), Detour Gold Corp. (TSX:DGC), Osisko Mining Inc. (TSX:OSK), Katanga Mining Ltd (TSX:KAT), and Nicola Mining Inc. (TSXV:NIM).

17-May-2018

Monarques Gold Corp.

Commissioning Beacon Mill to Meet Strong Demand

Impact: Positive

Monarques has announced the planned commissioning of its Beacon mill in Val-d’Or by Q4 2018. The mill is located only 500m away from the railway line and 10km from the company’s Beaufor Mine.

  • Monarques has allocated a C$1.5M budget to upgrading the facility to process 750tpd and is planning to submit an updated closure plan with the Ministry of Energy and Natural Resources before commissioning the mill
  • Decision to operate its fully-permitted Beacon mill results from excess demand for custom milling services
  • Custom milling at the 750tpd Beacon mill is expected to provide additional revenue to the company’s operating Camflo mill, which saw a 17% revenue increase in FQ3 2018
We view this as a positive development for the company as it is expected to bring the company’s operating mill capacity to 2,350tpd between the two mills. Monarques currently trades at a discount to peers (C$14/oz vs. peers at C$34/oz) and we believe the upcoming resource expansion drilling and technical studies including conceptual study should help close the valuation gap to peers.

17-May-2018

Adventus Zinc Corp.

Initial Work Drives Further Land Acquisition in Ireland

Impact: Mildly Positive

Adventus has announced the results of its Phase I exploration activities at its Rathkeale and Lismore properties in Ireland, which includes seismic survey and detailed target generation initiative.

  • Phase I exploration identified six drill-ready targets on the western extensions of structures relating to neighbouring Tobermalug deposit (44.2 Mt @ 7.2% Zn & 1.2% Pb)
  • Exploration has led to the application to acquire two additional blocks of ground (21 licenses) covering 630km2 which would bring total exploration rights to 1,950km2 in Ireland
  • We expect Adventus to monetize these earlier stage exploration assets, similar to what it has done with its Newfoundland projects 
Adventus is currently trading in line with peers, however we believe a premium valuation is warranted given the exploration potential and quality of the company’s underlying assets. Upcoming catalysts includes results from regional exploration work along with the planned monetization of non-core exploration assets.

16-May-2018

Maritime Resources Corp.

Maritime Adds Land; Doesn’t Alter Our View

Impact: Neutral

Maritime Resources has announced the acquisition of 3,225 ha of claims surrounding its Hammerdown asset (Figure 1).

  • Strategic land consolidation may provide incremental fundamental value; potential justifying a change to the current offer of 0.390 of a common share of Anaconda in exchange for each Maritime share
  • Share component of the acquisition (500k on signing, plus an additional 1.5 million shares through the life of the deal) could be considered an additionally dilutive tactic, similar to the previous C$1M financing as a takeover defense tactic against Anaconda
While we expect Anaconda to be displeased with the expanding share count, it’s likely a transaction it would have eventually undertaken. Therefore, we do not expect them to pull the offer and we continue to believe that the a hostile takeover proposed by Anaconda in April still has an 60-70% chance of being completed.

 

14-May-2018

Mawson Resources Ltd.

New Cobalt Mineralization at Rajapalot

Impact: Positive

Mawson has identified significant intervals of cobalt mineralization at its Rajapalot project in Finland, which is currently associated with gold mineralization over an area of 3km by 4km and open in all directions.

  • Cobalt has potential to add by-product value to Rajapalot
  • Attractive option for future ethically-sourced cobalt for Europe
  • Over half the drill core remains to be re-assayed for cobalt content
We expect results from re-assaying and drilling to be upcoming catalysts for the company, as it looks to build a maiden resource.

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