RCKS talk

Wednesday, July 13, 2016 Derek Macpherson

RCKS Drilling Deeper Lunch Features Three Latin American Explorers

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Yesterday, Red Cloud Klondike Strike Inc. (RCKS) hosted the fourth installment of our Drilling Deeper lunch series, this time featuring three Latin American based gold exploration/development companies. The presenting companies were Golden Reign Resources Ltd. (TSXV:GRR), GoldQuest Mining Corp (TSXV:GQC) and Unigold Inc. (TSXV:UGD). In our 3 THEMES & 10 COMPANIES FOR A NEW BULL MARKET IN PRECIOUS METALS post published last month, we highlighted that we believe good news is good for stocks (catalysts) and we believe all three presenters have the potential to add value with planned exploration or project development. read more


Wednesday, July 13, 2016 Derek Macpherson

NMI’s Record Q2 may lead to Increased Guidance

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Newmarket Gold Inc (TSX:NMI) released record Q2 2016 production results yesterday after the close. Continued production growth was driven by another quarter of increased grade at Fosterville, as the company continues to mine higher grade material in the Lower Phoenix zone. Also, it is worth noting that H1 production of 119,248 ounces represents ~54% of the top-end of 2016 guidance, suggesting a guidance increase may be on the horizon. We expect Newmarket’s continued execution to help close the current valuation gap to peers, particularly if guidance is increased with Q2 financial results later this month.  read more


Tuesday, July 12, 2016 Derek Macpherson

IDM Releases Updated PEA

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IDM Mining Ltd. (TSXV:IDM) has released the updated PEA from the Red Mountain project which highlighted the strong economics of the project. As discussed in our preview last week the updated PEA resulted in a higher production rate and improved economics; however, the mine-life did not extend beyond the current five years and capex came in much higher than expected. Taking this into account, along with the exploration upside and potential for recovery improvements we view the updated PEA as a mild positive for IDM as they continue to de-risk the Red Mountain project.
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Tuesday, July 12, 2016 Derek Macpherson

KDX’s Improved Operations Should Close Valuation Gap

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Klondex Mines Ltd. (TSX:KDX, NYSE MKT:KLDX) reported Q2 2016 production results, which are a significant improvement over Q1. The improvements were driven by increased throughput, 16.8% more tons milled QoQ, and higher grades from Fire Creek, 30% higher QoQ. For H1 Klondex produced 71,592 gold equivalent ounces, which is ~49% of the lower-end of 2016 production guidance, suggesting they remain on track to meet guidance after a weak Q1. As suggested in our post on June 29, we believe these improved results are likely to be the first step for Klondex to close the valuation gap to peers. read more

Monday, July 11, 2016 Derek Macpherson

IDM Starts Drilling at Red Mountain; PEA Update Key

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IDM Mining Ltd. (TSXV:IDM) continues to advance its Red Mountain project with the commencement of its planned infill drilling program. The goal of the program is to upgrade inferred resources and provide additional metallurgical samples, both of which are important for the Bankable Feasibility Study, expected to by early 2017. However, in the near-term investors should be focused on the pending PEA update, which we expect to have improved economics and potentially close the valuation gap to peers as mentioned in our post last weekread more


Friday, July 08, 2016 Derek Macpherson

Why the Job’s Number Didn’t Matter for Gold

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Following weak U.S. non-Farm Payrolls number in May, the June result was much stronger and well ahead of expectations (287k vs 175k expected). The gold price had a sharp negative reaction and then quickly regained losses. While creating some short-term volatility, in our view this wasn’t the most interesting news of the day for gold. More important was as article reporting that funds continue to flow out of general equities and into gold stocks, supporting our view that we are in the early stages of a long-term bull market for gold.
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Thursday, July 07, 2016 Derek Macpherson

Island Deep Drill Results Support Richmont’s Current Valuation

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Richmont Mines Inc.(TSX:RIC, NYSE MKT:RIC) released final results from the Phase 1 drill program and updated plans for the Phase 2 program at the Island Gold Mine. Results were highlighted by 6.6 m at 18.63 g/t Au (MH1-6) and 2.27 m at 17.41 g/t Au (620-543-34). Phase 1 was the first step in extending the mine life above the 1,000 m level and the goal of Phase 2 is to expand the existing resource both laterally and at depth. The reported results are beneficial for planned production above the 1,000 m level but imply a shaft may be justified to access deeper resources.
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Wednesday, July 06, 2016 Derek Macpherson

Victoria’s Olive Trench Results Support our View

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Victoria Gold Corp (TSXV:VIT) released good trench results from Olive which support recently released drill results. The program was designed to expose the mineralization at surface and the results will be incorporated in the maiden resource for Olive and the pending feasibility study update. We continue to believe that the economic benefit we expect Olive to have on the Eagle project is not yet reflected in Victoria’s share price. read more


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