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Wednesday, June 14, 2017 Derek Macpherson

RCKS Montreal Mining Conference Presenter Preview

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On Thursday, June 22, 2017, Red Cloud Klondike Strike Inc. will be hosting its 2nd Montreal Mining Conference. The event features presentations from 7 companies, including lunch presentations from Chris Bradbrook discussing gold and industry outlook followed by a presentation from Osisko Mining Inc. Visit the event page for more details on the day’s schedule. In this post, we provide a brief preview on the 7 presenting companies.  read more


Tuesday, June 13, 2017 Derek Macpherson

Ascot Drilling Continues to Highlight Scale Potential

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Ascot Resources Ltd. (TSXV:AOT) reported drill results from 22 holes of the 112 completed to date from its 2017 exploration program underway at its Premier property in British Columbia. Results from the Northern Lights Main zone returned 1135.00 g/t Au over 0.50m within a wider interval (Hole P17-1269) and 84.2 g/t Au over 1.50m within a wider interval (Hole P17-1271). Recent drilling has extended the zone 200m up-dip, which remains open in all directions as the company continues to test and expand the central area. In addition, results from the 602 zone were highlighted by 17.60 g/t Au over 2.00m within a wider interval (Hole P17-1278). The company noted, based on internal modelling it is reviewing the appropriate mining method for Premier, underground, open-pit or a combination of both. Results continue to highlight the potential for a large high-grade underground resource (2-3 million oz Au) at the past producing Premier mine, which implies a current valuation of C$82-123/oz, a premium to peers at C$68/oz, this is likely warranted because of the high-grades, existing infrastructure and other resources. We note that based on the current lower-grade resource Ascot trades at a discount to peers (C$55/oz). Based on Ascot’s cash position at the end of 2016 (C$29.1 million), the company appears to be well-financed for its planned exploration and remaining option payment of C$6.85 million (due June 2017). We expect additional results from the ongoing drill program to demonstrate the projects large-scale potential. read more


Tuesday, June 13, 2017 Derek Macpherson

RPX Hits More VG at the Wawa Gold Project; Results Pending

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Red Pine Exploration Inc. (TSXV:RPX) announced results from two drill holes completed as a part of its ongoing 20,000m drill program at its Wawa Gold Project property. Hole SD-17-73 intersected 19.92 g/t Au over 3m over a wider interval and Hole SD-17-74 intersected 4.75 g/t Au over 3m in the Minto Mine South Zone. 13 boreholes over a 250m x 120m area were drilled in the southern extension of the Minto Mine Structure of which 12 of the boreholes intersected visible gold. Results highlight Red Pine’s growth potential from its larger land package, the company continues to test the area and more drill results are pending. Red Pine currently trades at a steep discount to peers (C$36/oz vs. peers at C$64/oz), which does not appear to reflect the current deposit or its significant growth potential. We believe that as Red Pine continues to demonstrate the potential of the Wawa Gold Project through its ongoing exploration program, it should close the valuation gap to peers. read more


Tuesday, June 13, 2017 Derek Macpherson

MTA Adds Another Cash Flowing Stream, Plus 3 Royalties

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Metalla Royalty & Streaming Ltd. (CSE:MTA) has entered into a Share and Asset Purchase Agreement with Coeur Mining Inc. (NYSE:CDE) to acquire a portfolio of three royalties and one stream. Adding a second cash flowing stream to the company’s portfolio and significantly increasing its cash flow both in the near and medium term. The transaction is a combination of shares and a convertible debenture, valued at US$13 million, whereby Coeur will own 19.9% of Metalla, with the balance of the value held in a convertible debenture. We view the transaction as a significant growth opportunity for Metalla and believe it now trades at a significant discount to other royalty and streaming peers. As well, we believe this highlights Metalla’s ability to accretively grow its portfolio, versus its larger peers. read more


Monday, June 12, 2017 Derek Macpherson

ASND Has Challenging May; Turnaround Progressing

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Ascendant Resources Inc. (TSXV:ASND) provided an update on production and exploration activities at its El Mochito mine. Ore hoisted for the month May averaged 1,511 tpd, a decrease from April (1,960 tpd) due to diminished availability of mining equipment. A plan to update the mining fleet was already in progress and more purchases are expected, new trucks and scoops will be added over the coming weeks. The company remains confident in meeting its guidance of 1,850 tpd in Q2 despite being behind that target quarter-to-date (1,750 tpd). As well, the company began a 33,200m 2017 underground exploration program to upgrade and expand resources at El Mochito consisting of 18,200m of definition drilling and 15,000m of greenfield exploration with the goal of adding new higher-grade zones. We continue to believe a progressive re-rating is likely over the year as the company executes on its ongoing optimization program and reports on upcoming exploration results; Q2 operating results (anticipated in early July) are likely to be the next catalysts for the company. read more


Monday, June 12, 2017 Derek Macpherson

MLN Continues to Add Ounces at La Trinidad

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Marlin Gold Mining Ltd. (TSXV:MLN) announced additional promising results from ongoing drilling at its La Trinidad mine in Mexico. Highlighted by Hole 17TRD52 results intersected 2.73 g/t Au over 38.70m (16.30m true width), including 5.12 g/t Au over 14.00m (5.88m true width), targeting areas around previously announced holes 17TRD50 and 17TRD44. Similar to the other two holes mentioned, the upper intercept was originally understood to be waste, suggesting the company has added ounces to the current mine plan. The company is planning to mine the area within the next two months. Drilling continues to refine the current mine plan and explore targets to the southeast. Marlin’s continued exploration success from La Trinidad and Commonwealth as well as anticipated permitting news from its San Albino royalty should be positive catalysts for the company over the near-term. In addition, the company has initiated exploration at San Cristobal, a sizeable regional target near La Trinidad and while early days, results have the potential to be game-changing for the company. read more


Friday, June 09, 2017 Derek Macpherson

VIT Reports Initial Results from Olive-Shamrock

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Victoria Gold Corp. (TSXV:VIT) released initial results from 3 of the 18 holes completed to date at the Olive-Shamrock zone on its Dublin Gulch property in the Yukon. 3,000m of drilling has been completed since the program began in April, following the Potato Hills Trend mineralization concept used to explore other nearby targets. Results were highlighted by Hole GD-790C returning 1.01 g/t Au over 18.85m within a wider interval and Hole DG-801C returning 1.08 g/t over 51.02m within a wider interval. Exploration continues at the property, with a steady stream of results expected, which should demonstrate the potential for resource growth. We expect these results along with further regional exploration results to likely to be positive catalysts for the stock and should help demonstrate the projects exploration upside and growth opportunities to potential acquirers. At 0.75x NAV, Victoria currently trades at a premium to peers at 0.63x NAV, while trading at a discount on a per ounces basis, or C$43/oz versus peers at C$60/oz. We believe Victoria’s premium valuation versus peers is warranted given the project’s scale, jurisdiction, permits, advanced project financing and the company’s strong balance sheet. read more


Friday, June 09, 2017 Derek Macpherson

AGLD Reports Maiden Reserve Estimate for Amancaya

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Austral Gold Ltd. (TSXV:AGLD, ASX:AGD) reported updated resource and reserve estimates for both its Amancaya project and Guanaco mine in Chile. The update included a maiden reserve estimate for Amancaya, emphasizing the project’s important role in the company’s growth strategy. We continue to expect improved performance from the company over the course of the year, as the new agitation leach plant comes online and higher-grade stockpiled ore at Amancaya begins being processed. We expect a PFS for Amancaya and Guanaco (Q2 2017) to be completed shortly and should provide a clear picture of the combined production profile. In our view, Austral is poised to re-rate towards similar scale peers. read more


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