RCKS talk

Thursday, October 19, 2017 Derek Macpherson

RCKS Charts: FM, KL, RIC, TECK, KDX and NVO

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In this edition of RCKS Charts, Keith has evaluated First Quantum Minerals Ltd. (TSX:FM), Kirkland Lake Gold Ltd. (TSX:KL), Richmont Mines Inc. (TSX:RIC), Teck Resources Ltd. (TSX: TECK.A and TECK.B, NYSE:TECK), Klondex Mines Ltd. (TSX: KDX), Novo Resources Corp. (TSXV:NVO).  read more


Wednesday, July 27, 2016 Derek Macpherson

Hollister Finally in the Right Hands

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Klondex Mines Ltd. (TSX:KDX, NYSE MKT:KLDX) finally announced that it has entered into a purchase agreement to acquire the Hollister mine, along with other assets for ~US$90 million (cash, debt, shares and warrants). Klondex’s management team knows the asset well and the Midas mill, which Klondex acquired in early 2014, has always been a logical destination for Hollister’s ore. This acquisition has long been expected and we believe Hollister should add to Klondex’s growth profile. We expect both Hollister and True North development plans to be positive catalysts for Klondex’s share price later this year.
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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

Wednesday, June 29, 2016 Derek Macpherson

Klondex Releases Good Drill Results from True North

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Klondex Mines Ltd. (TSX:KDX, NYSE MKT:KLDX) provided an exploration update from its True North Gold Mine (formerly known as Rice Lake) highlighting the high-grade potential of this asset. While the highlight holes were good, the market is likely to remain skeptical on this asset until an operating plan is presented later this year. In our view the market appears to be giving little value for this asset in Klondex’s share price and a positive production decision in Q3 may provide a re-rating opportunity for Klondex's shares. read more


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