Scorpio Gold Corp. {TSX.V: SGN} made their second significant announcement in ten days, as they continue to improve an already impressive production story, in a first class jurisdiction.
Following on from their extended LOM news release on the 21st July, SGN have reported further drilling results from their Brodie Satellite Deposit at Mineral Ridge, Nevada. Some significant intercepts were returned.
Terrace Energy Corp.{TSX.V:TZR} pleased the market with an over allotment of some $3 million adding to the recent $20 million raised and announced on July 23rd, for a grand total of 10,820,000 shares raising $23,019,550.
Nymox {NASDAQ: NYMX} announces positive efficacy results in their phase 3 trial of NX-1207 for BPH.
Evaluation of data from the study confirmed that the NX-1207 reinjection treatment had been well tolerated by patients, who had not displayed any drug related significant side effects, not impaired sexual function.
Inovio Pharmaceuticals HPV Immunotherapy Achieves Primary Efficacy Endpoint in Randomized Phase II Cervical Dysplasia Trial
Treatment with VGX-3100 induces regression of precancerous cervical disease and clears HPV infection with robust T cell responses
Avalon Rare Metals Inc. {TXS.v: AVL} closed their recently announced financing in short order, with the private placement segment healthly over-subscribed.
Avalon raised CAD $2.166 million with a combination of a private placement and flow through shares.
Inovio Pharmaceuticals Inc. (NYSE MKT: INO) today announced it has initiated a phase I/IIa clinical trial to evaluate safety, immunogenicity, clinical responses and disease-free survival of its DNA immunotherapy product, INO-3112, in treating human papillomavirus (HPV)-associated cervical cancer.
This open-label study, called HPV-004, will evaluate INO-3112 in 20 female subjects, with inoperable invasive cervical cancer.
This cervical cancer study is being conducted at the University of Chicago Medical Centre.
Colonial Coal International Corp. (TSX.V:CAD) is pleased to announce that the British Columbia Ministry of Energy and Mines has issued a total of 26 new coal licenses the Company’s Flatbed and Huguenot properties.
The 19 coal licenses issued for the Huguenot property principally cover potential down-dip extensions to previously defined and reported resources plus additional resource potential east of the currently defined deposit; most of these new licences are located along trend from other coal projects located to the northwest
The Flatbed property is now comprised of seven coal licenses that cover a total of 9,077 hectares.
Nymox Pharmaceutical Corporation (NASDAQ: NYMX) is pleased to report new data supporting the positive sexual functional preservation profile of NX-1207, the Company’s lead compound in Phase 3 development for the treatment of prostate enlargement (BPH or benign prostatic hyperplasia) and Phase 2 development for localized prostate cancer.
Inovio Pharmaceuticals, Inc. (NYSE: INO) has expanded its existing license agreement with the University of Pennsylvania, adding exclusive worldwide rights to technology and intellectual property for novel synthetic therapies against cancer, infectious diseases and new immune activators.
Cartier Resources Inc. (TSX.V:ECR) has provided recent results from its 2014 winter diamond drill program (see table) which when factored with the intersection of 10.3 grams per tonne gold over 5.0 metres included within an interval grading 2.4 g/t Au over 53.0 m in hole Pu-14-09 (Feb. 27, 2014, press release) confirm the extension of the gold-bearing system down to a depth of 650 m below the Pusticamica deposit. All of the diamond drill holes completed in the winter 2014 program intersected the gold-bearing Pusticamica zone and show characteristics (mineralization, alteration and texture) typically observed in important mineralized systems.
Inovio Pharmaceuticals, Inc. (NYSE : INO) today announced that it has been recognized with three prestigious industry awards at the World Vaccine Congress, in Washington, D.C. The Vaccine Industry Excellence (ViE) Awards recognize outstanding vaccine advancements and achievements of therapeutic and preventive vaccine developers across the global industry.
Terrace Energy Corp. TSX.V: TZR Further to its February 24, 2014 announcement the Company announced it had entered into an agreement (the “Farm-in Agreement”) to acquire a 75% working interest and a 56.25% net revenue interest in several leases.
Avalon Rare Metals Inc. has received its Class A land use permit from the Mackenzie Valley Land and Water Board (MVLWB) to start preconstruction work at the Nechalacho rare earth elements project at Thor Lake, NWT, Canada.This permit allows the company to commence identified low-impact activities including site preparation, early camp erection, portal t and associated infrastructure.
Vancouver, B.C., Canada – March 27, 2014 – Colonial Coal International Corp. (TSX-V:CAD) announces that its wholly -owned subsidiary, Watson Island Development Corporation (“WatCo”), has retained McMillan LLP to advance litigation in the British Columbia Supreme Court against the City of Prince Rupert (the “City”) to enforce WatCo’s rights in connection with the acquisition of Watson Island.
A Certificate of Pending litigation has also been filed to prevent the land from being sold to others while the litigation is outstanding.
WatCo has been working to purchase Watson Island for the last several years and has been making payments to the City of between $75,000 and $90,000 per month, under the terms of an Exclusivity Agreement. In furtherance of the Exclusivity Agreement, the City accepted a conditional offer to purchase for $5 million in 2012.
P & P- Proven and probable reserves. These can be mined economically at particular prices.
M & I – Measured and indicated. A higher level of confidence in the resource. Measured is better than indicated.
Inferred – Estimated with low confidence. This is an initial estimate, or a rough draft. With more drilling, inferred ounces become M & I. Infill drilling is converting ounces to a higher category.
Au-eq = Gold equivalent. All metals converted to a gold valuation.
Feasibility Study – Usually bankable, meaning based on the study, the project can get funded. Highest standards of quality, defines what the mine will be.
Pre-Feasibility Study – Closer to a feasibility study than a PEA but not bankable. More stringent than a PEA. What the mine should be.
Preliminary Economic Assessment (PEA) – Initial economic study of a potential mine. Like a rough draft. Subject to change. In Australia this is known as a scoping study. What the mine could be.
IRR – Internal Rate of Return. Need to see at least 20% at lower metals prices.
NPV – Net Present Value. Current value of project based on the discounted analysis of future cash flow & expenses.
Cash costs / AISC (all-in sustaining costs) – Cash costs = operating costs. Includes all the costs associated with producing an ounce of metal.
Some investors add $250 per ounce to cash costs to get a all-in sustaining cost figure, in preference to using the AISC figure quoted by a company.
– Measured in grams per ton (g/t) over meters.
– Multiply the grams by meters to get an idea of the quality of drill hole (i.e. 3 g/t over 10 meters = 30).
– Width / Thickness is important. We need to see a minimum 4-5 meters. Less than that can be difficult to mine. This is why many high grade hits under 1 meter are ignored by the market.
– For underground mining (below 300 meters), width and grade is very important. Might need to see 5-7 g/t Au over 4-5 meters as a minimum.
– For open-pit bulk tonnage mining, the resource generally needs to be +1 g/t and ~100 g/t Ag for Silver. This needs to be born in mind when evaluating drill results.
– For oxide heap leach projects, +0.30 g/t can be mined profitably. 0.60 g/t and higher can be considered high grade. Good drill results are these grades over long distances (i.e. over 30 – 100 meters).
– Recovery is most important thing for oxide deposits.
– A step-out is a drill hole that is a considerable distance (~50 -100 meters) outside the boundary of existing resource or mineralization.
– A great drill hole that is 100 meters outside of a resource is more significant than a hit that is in an area already known to be mineralised.
– Strike length is the longest horizontal distance for mineralisation.
– High grade and high margin assets get stronger valuations.
– For a producer, the reserve life of an asset plays a huge role in its valuation. Think of the reserve life as a potential price to cash flow valuation.
– If an asset only has 6-7 years of reserve life, it wouldn’t be valued at more than 7x cash flow in a normal market.
– Silver production gets a better valuation. If a junior gold producer trades at 8x cash flow, the same company as a silver producer could trade at 10x cash flow.
– Exploration and Development assets can be valued as a percentage of the NPV of a project (or NAV of a company).
– Pre-financing, a project can trade at 0.20x to 0.30x NPV
– Optionality deposits are valued at 0.10x or less
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City Investors Circle is based in the financial district in the City of London
We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.
Our audience is selected and invited individually to ensure interest and relevance for the presenting company.
Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.
We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.
If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com
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Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.
All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.
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