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Tuesday, May 23, 2017 Derek Macpherson

IDM's Initial 2017 Drilling Highlights Growth Potential

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IDM Mining Ltd. (TSXV:IDM) announced favorable results from the first 6 of 23 holes completed to date at its Red Mountain gold project near Stewart, BC (Figure 1). The ongoing 2017 program is targeting exploration and resource expansion up to 300m north of the current resources. Results were highlighted by step-out hole U17-1229 from the AV zone, which included 12.95 g/t Au and 48.83 g/t Ag over 6.23m (capped - true width) and infill Hole U17-1233 from the JW zone which intersected 6.15 g/t Au and 37.69 g/t Ag over 25m (capped - true width). We view initial results positively, as all holes successfully intersected mineralization and demonstrate the potential for resource growth at Red Mountain. IDM continues to trade at a discount to peers on a P/NAV basis (0.48x vs. peers at 0.67x) and on a per ounce basis (C$45/oz vs. peers at C$67/oz). We expect additional results from the 2017 drill program and the advancing feasibility study, coupled with the project’s ongoing de-risking (engineering and permitting), to help close the valuation gap to peers. read more


Thursday, April 13, 2017 Derek Macpherson

IDM's Red Mountain FS on Track; Improves Recoveries

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IDM Mining Ltd. (TSXV:IDM) provided an update on the status of the Feasibility Study expected to be released in the next two months, for its Red Mountain project northeast of Stewart, BC. The FS is well underway to be completed on schedule, as the company finalizes designs and plans for the underground mine, tailings management facility and underground geotechnical and hydrogeology work. Thus far, metallurgical work has resulted in mildly improved recoveries on average of 89.4% and 86.1% Ag (previously 88.9% Au and 80.3% Ag), which should benefit project economics. IDM continues to trade at a discount to peers on a P/NAV basis (0.55x vs. peers at 0.63x) and on a per ounce basis (C$49/oz vs. peers at C$60/oz). We expect pending results from the 2017 drill program and the advancing feasibility study, coupled with the project’s ongoing de-risking (engineering and permitting), to help close the valuation gap to peers.  read more


Monday, April 03, 2017 Derek Macpherson

IDM Continues to Advance Permitting at Red Mountain

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IDM Mining Ltd. (TSXV:IDM) announced it has finalized the Application Information Request (AIR) for its Red Mountain project. This is an important step in the permitting process as the AIR document determines the required contents of the Environmental Impact Statement (EIS). IDM expects to submit the completed EIS in Q2 2017. IDM continues to trade at a discount to peers on a P/NAV basis (0.52x vs. peers at 0.59x) and on a per ounce basis (C$47/oz vs. peers at C$56/oz). We expect the pending drill results and feasibility study for Red Mountain (Q2 2017), coupled with the project’s ongoing de-risking (engineering and permitting), should help close the valuation gap to peers.  read more


Tuesday, March 14, 2017 Derek Macpherson

IDM Starts 2017 Resource Expansion Drilling

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IDM Mining Ltd. (TSXV:IDM) announced it has commenced a spring 2017 Phase I drill program at its Red Mountain project in British Columbia. The underground drill campaign is expected to consist of ~35 holes, totaling 8,000m. The program is focused on expanding mineralization to the north as well as up-dip and down-dip of the AV and JW zones. The resources of these zones combined with that of the Marc zone currently have a strike length of 600m. Previous intercepts indicate the gold mineralization extends for an additional 800m to the north. Initial step-out drilling at the mostly undrilled SF zone, which is north of JW, is expected to cover a strike length of ~300m to the north of the existing resources. The company has also planned step-out drilling up-dip and down-dip from the AV and JW zones where previous drilling suggests that mineralization continues for hundreds of meters. The zones remain open down-dip along strike. IDM continues to trade at a discount to peers on a P/NAV basis (0.47x vs. peers at 0.51x) and on a per ounce basis (C$39/oz vs. peers at C$53/oz). We expect the pending drill results and feasibility study for Red Mountain, coupled with the project’s ongoing de-risking (engineering and permitting), should help close the valuation gap to peers. read more


Sunday, February 26, 2017 Derek Macpherson

RCKS Pre-PDAC Mining Showcase Presenter Preview

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On Friday March 3th, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Pre-PDAC Mining Showcase. The event features presentations from 21 companies, including a themed lunch presentation by leading corporations in the gold mining sector. Visit the event page for more details on the day’s schedule. In this post, we provide a brief preview on the 21 presenting companies and 13 banner sponsors that will also be in attendance.  read more


Wednesday, February 22, 2017 Derek Macpherson

Osisko Gold Royalties to Invest C$15.2 Million in IDM

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IDM Mining Ltd. (TSXV:IDM) announced a private placement with Osisko Gold Royalties Ltd. (TSX:OR, NYSE:OR) for C$15.248 million which should provide IDM the necessary funds to move its Red Mountain project to a production decision along with allowing for a significant 2017 exploration program. The financing was a combination of flow-through shares that are priced at a 61.3% premium to the prior day’s close (41 million shares at C$0.25 for gross proceeds of C$10.250 million) and common shares that are priced at a 9.7% premium to the prior day’s close (29.4 million shares at C$0.17 for gross proceeds of C$4.998 million). As a result of the transaction Osisko Gold Royalties would own ~19.9% of IDM on a non-diluted basis. In conjunction with the financing, Osisko will be granted certain preemptive rights in respect to the acquisition of royalties or streams from the Red Mountain project. The transaction is expected to close on March 1st. This should provide IDM the balance sheet flexibility to advance the Red Mountain project to a production decision and fund a significant exploration program in 2017. IDM trades at a discount to peers on a P/NAV basis (0.39x vs. peers at 0.56x) and on a per ounce basis (C$41/oz vs. peers at C$57/oz). We expect the pending feasibility study for Red Mountain, coupled with the project’s ongoing de-risking (engineering and permitting), should help close the valuation gap to peers. read more


Thursday, February 09, 2017 Derek Macpherson

IDM Adds Mining Experience to Its Board

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IDM Mining Ltd. (TSXV:IDM) announced the appointment of Duncan Middlemiss, P.Eng to its Board of Directors. Mr. Middlemiss brings significant mine development experience, which we view positively since IDM is advancing its flagship Red Mountain project in British Columbia towards a feasibility study (H1 2017) and final construction decision. Mr. Middlemiss is currently the President, CEO and a Director of Wesdome Gold Mines Ltd. (TSX:WDO). IDM trades at a discount to peers on a P/NAV basis (0.43x vs. peers at 0.59x) and on a per ounce basis (C$48/oz vs. peers at C$63/oz). We expect the pending feasibility study for Red Mountain, coupled with the project’s ongoing de-risking (engineering and permitting), should help close the valuation gap to peers. read more


Monday, January 23, 2017 Derek Macpherson

IDM's Resource Update Benefits Project

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IDM Mining Ltd. (TSXV:IDM) released an updated resource estimate for its flagship Red Mountain project which should be positive for project economics. The overall tonnage increased by 10%, gold content grew by 18% and silver content grew by 15% as grades increased (Figure 1). With the update, the overall resource grew by over 100k AuEq oz (all categories) and suggests that a longer mine life is likely with the feasibility study that is expected later in H1 2017. We view this resource update positively as the ounces added to the project’s economics. IDM trades at a discount to peers on a P/NAV basis (0.37x vs. peers at 0.54x) and on a per ounce basis (C$37/oz vs. peers at C$52/oz). We expect IDM’s share price performance in the near-term to be primarily driven by Red Mountain’s pending feasibility study (H1 2017).  read more


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