Mining Review 2nd March 2025

A mixed week for our stocks as profit taking saw falls in producing mining stocks.

Peace hopes for the Ukraine war took a knock after the Trump – Zalinski public spat at the White House, which may drive gold higher next week.

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City Investors Circle Mining Review 2nd March 2025

A mixed week for our stocks as profit taking saw falls in producing mining stocks.

Peace hopes for the Ukraine war took a knock after the Trump – Zalinski public spat at the White House, which may drive gold higher next week.

I am currently in Toronto for the PDAC 2025, so I am just adding the statistics this week for completeness.

I will be reporting on the PDAC throughout the next few days.

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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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This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Mining Review 23rd February 2025

Calibre Mining announced record gold production and looked forward to commencing production at their Valentine mine this year.

Westgold issued a drilling update for the Beta Hunt mine in Western Australia.

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Calibre Mining  –  The Valentine Mine in Newfoundland nears completion.

City Investors Circle Mining Review 23rd February 2025

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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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,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Other news releases from companies on our watchlists were

Westgold responded to press speculation

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Mining Review 16th February 2025

Horizon Metals announced the processing of the first ore from the Phillips Find gold mine. Ora Banda Mining announced good drill results from their Riverina gold project.

The price of gold jumped but with Donald Trump and Vladimir Putin talking about peace, what will happen if the Ukraine war finishes?

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Calibre Mining – El Limon Mine, Nicaragua

City Investors Circle Mining Review 16th February 2025

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The price of gold jumped again, but with Donald Trump and Vladimir Putin talking about peace, what will happen if the Ukraine war finishes?

I fear any sign of a peace settlement will drive the price of gold downwards fairly quickly, and that would remove some of the gains made recently in the producing gold miners. 

I am an investor rather than a trader, but if such a move happens I may be tempted to reduce some of my holdings in my ISA (As there’s no CGT issue), and look to re-invest at a lower level in the same companies.

It’s going to be tough call, and valuations may fall faster than we would like if such a scenario arises, but it’s one I’m looking at.

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Horizon Metals announced the processing of the first ore from the Phillips Find gold mine. They are one of three companies moving into production that I have recently invested in due to their policy of early stage mining to self fund ongoing exploration, thus avoiding dilution.

Ora Banda Mining announced good drill results from their Riverina gold project. The share price has just reached A$1, four times my original purchase price less than a year ago. How I wish I could repeat that sort of decision more often!

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  Ora Banda Announced Successful Drilling at Riverina

  Horizon Minerals Processes First Ore at Phillips Find

  Lefroy Exploration executed Agreement to mine the Lucky Strike gold deposit

  Capricorn Metals Acquired Mummaloo to Expand Mt Gibson Tenure

  Calibre Mining Expanded Mineralization to Surface at Frank

  Horizon Minerals Poseidon Takeover Gets The Green Light

  Mining Review 9th February 2025

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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

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Mining Review 9th February 2025

Calibre Mining added 30% gold at the Leprechaun pit at Valentine.

Westgold shares hammered after lower guidance revision.

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Cornish Metals South Crofty Mine, Pool, Cornwall. UK

It’s been another good week for investors in the mining space, with producing miners rising as the gold price reaches new (nominal) highs, rising 1.9% to $2,855.

 

I have been reviewing my personal portfolio for non performing copanies and have made a couple of sales. The principal sales were American Creek Resources, and Sierra Metals (not a watchlist company).

 

American Creek keeps delaying the gold crypto token backed takeover by Cunningham Mining, and I have a feeling this is not going to conclude, it’s taken a long time now, and the delays are encouraging.

 

I also sold Sierra Metals, as they are subject to a really poor bid by a Peruvian company.

 

With the funds I added to my holdings of Lefroy Exploration, lowering my average to close to the current share price.  I also added to Meeka Metals, and made an initial investment in Horizon Minerals. All three are ASX listed.

 

The common demoninator of all is they are junior explorers all going into early production to fund ongoing exploration.

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City Investors Circle Mining Review 9th February 2025

   Barton Gold Drilling Complete at Tolmer Au-Ag Discovery

  Calibre Mining Added 30% Gold at Leprechuan

  Ascot Resources Delays Mining Resumption Due To Capital Shortfall

  Capricorn Metals Expanded Mt Gibson Project Tenure

  American Creek Further Extends the Plan of Arrangement

  Westgold Share Price Hammered as Guidance Cut

  Mining Review 2nd February 2025

  Mining Review for January 2025 Published

Read more: http://www.city-investors-circle.com/archives/#ixzz8zbNBtNHo

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 American Creek Resources (TSXV: AMK)

Has entered into a second amendment agreement with Cunningham Mining to amend the previously announced arrangement agreement between the Purchaser and the Company dated September 5, 2024, as amended December 30, 2024 pursuant to which, among other things, the Purchaser will acquire all of the issued and outstanding common shares of American Creek by way of a statutory plan of arrangement.

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Comment

 

Just as I predicted, another delay, and I wonder why?

This is a novel approach to a financing, and I don’t think investors understand it nor are excited by it.

 

I have reduced my holding here and may sell the remainder whilst other gold producers are going up in value.

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Westgold (ASX / TSX: WGX)

Reduced its FY25 guidance issued very recently to 330,000 to 350,000 ounces of gold from 400,000 to 420,000 ounces, and increased AISC from a range of $2,000 to $2,300 to between $2,400 and $2,600.

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Comment

Coming so soon after the previous guidance given by the company, this looks clumsy to say the least.  One has to ask why things are so different so quickly?

Serious questions have to be asked of management here, surely someone’s head should roll? 

Around 20% of value has been destroyed here in short order, and looking at the recent drop in share price prior to this announcement, one has to wonder if anyone knew in advance?

I’ll wait for the fall to finish and then consider whether to top up at the lower price in the hope that management will eventually get a grip on things and move forwards. If that happens there could be an opportunity here.

As a former shareholder of Karora Resources, transitioned into here by the takeover, this realises my worst fears.

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Westgold Share Price Hammered as Guidance Cut

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Westgold (ASX / TSX: WGX) reduced its FY25 guidance issued very recently to 330,000 to 350,000 ounces of gold from 400,000 to 420,000 ounces, and increased AISC from a range of $2,000 to $2,300 to between $2,400 and $2,600.

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Westgold’s corporate strategy is to systematically recalibrate the business for long term
sustainable growth and higher levels of free cash generation. The Beta Hunt and Bluebird-South Junction mines are the major drivers of growth, with capital investment and resource drilling in both assets key to leveraging this new scale and to reducing Group operating costs.

Post merger, FY25 Production Guidance was predicated on the simultaneous ramp up of Beta Hunt to 2Mtpa and Bluebird-South Junction to 1.2Mtpa. During H1 FY25, the ramp ups of both assets were slower than planned, predominantly due to engineering, not mineral resource issues.

At Beta Hunt, production was adversely affected by the need to undertake significant upgrades of primary ventilation, mine pumping systems (dewatering) and clean water supply.

Westgold’s capital investment strategy is systematically removing these productivity constraints to deliver higher production in H2 FY25 and beyond.

At Bluebird-South Junction the transition to a much larger tonnage, transverse stoping mining method in the South Junction lodes was slower than planned as a result of upgrading the ground support regime.

This upgrade will underpin higher levels of production from the South Junction
lodes in H2 FY25.

As a result of these delays at Beta Hunt and Bluebird-South Junction, Westgold is revising its full year FY25 Production Guidance to 330-350koz, with AISC Guidance now adjusted to $2,400 – $2,600/oz.

Growth capital for the full year has reduced to $200M with the prioritisation to
projects delivering the highest return on investment (Beta Hunt, Bluebird-South Junction and Great Fingall).

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Westgold Managing Director and CEO Wayne Bramwell commented:

“Balancing short range targets with longer term shareholder returns is Westgold’s objective.

 

“Optimisation of our expanded portfolio began in earnest in Q2 FY25 and disappointingly, engineering ramp up issues constrained outputs from the Beta Hunt and Bluebird-South Junction underground mines.

 

“Both mines are now regaining momentum as Westgold rectifies areas of historic underinvestment across the Southern Goldfields and accelerates the expansion of our key Meekatharra mine.

 

“We are systematically deploying capital across our portfolio to establish long term sustainable growth, with drilling and upgraded infrastructure set to make our largest mines larger and more productive with lower operating costs.

“Westgold’s output will continue to improve across H2 FY25, with production in Q4 FY25 expected to reflect an annualised run rate of +400kozpa.

 

“Free cash flow and shareholder returns are our key performance indicators, and we are confident in the optionality our expanded portfolio now provides to deliver much higher levels of safe and profitable production into FY26 onwards.”

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To read the full news release please click HERE

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.To View Westgold’s historical news, please click here

The live gold price can be found HERE

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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This website is not sponsored, we are truly independent, and will always remain so

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Westgold.

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Mining Review 2nd February 2025

Calibre Mining celebrated its one millionth ounce of gold produced in Nicaragua.

Gold Road Resources, G Mining Ventures, and Ora Banda Mining all gave a positve outlook and guidance for 2025. Gold hit $2,800 late Friday.

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City Investors Circle Mining Review 2nd February 2025

This was an exciting week to be an investor in gold and precious metals, and companies in production as the gold price hit $2,800 in late trading on Friday in London.

There is a lot of discussion about gold being transferred in huge quantities from the vaults in London to the COMEX in New York, and the reasons for that.

China is known to have resumed buying, and the short term outlook looks to be positive for both gold and silver.

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I opened new small positions in Meeka Metals (ASX: MEK) and Horizon Minerals (ASX: HRZ), and added to Lefroy (ASX: LEX) as my buy in price was way higher, in order to lower my average price.

Meeka is looking to commence mining gold in March 2025 with first gold around mid-2025, at Andy Well, which will average 65,000 Oz gold PA for the first 7 years.

Horizon is due to commence gold production from the Paddington Mill this month, on a toll milling basis, and will generate A$30 million of cashflow at A$3600 gold price. (The current gold price in Australia is A$4,500)

Lefroy is negotiating with BLM to contract mine their first pit to generate early cashflow rather than equity dilution. I await the conformation of the deal and commencement of mining.

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Calibre Mining celebrated its one millionth ounce of gold produced in Nicaragua. This was achieved in 5 years. The company also declared a maiden Mineral Resource Estimate for the Talvera deposit of 630,000 ounces of gold.

Gold Road Resources, G Mining Ventures, and Ora Banda Mining all gave a positve outlook and guidance for 2025. Gold hit $2,800 late Friday.

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News from our watchlist companies this week is below, plase click the links to read the full story.

   Mining Review for January 2025 Published

  Awalé its 2.5 g/t Gold Eq. over 34m at the BBM Zone

  Calibre Pours its One-Millionth Ounce of Gold in Nicaragua

  West Red Lake Gold Mines Has New Targets from Surface Sampling

  Gold Road Announces Strong Outlook and Guidance for Gruyere in 2025

  G Mining Ventures Outlines Outlook for 2025

  Ora Banda Mining December Activities Report

  Mining Review 26th January 2025

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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,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Declaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Mining Review January 2025

City Investors Circle Mining Review for January 2025 has been published.

The highlighted company is Catalyst Metals.

Companies reporting good news included Calibre Mining, Orla Mining, Gold Road Resources and Ora Banda mIning.

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City Investors Circle Mining Review January 2025

City Investors Circle Mining Review for January 2025 has been published.

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The highlighted company is Catalyst Metals.

Companies reporting good news included Calibre Mining, Orla Mining, Gold Road Resources and Ora Banda mIning.

The review also lists the most significant news from our watchlist companies during January.

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To read the January 2025 Mining Review, please click HERE

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The review highlights the increasing price of Antimony due to Chinese and Russian domination of the market.

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Links to all our news reports from January 2025 are below, click the link to be taken to the full story.

  Awalé Hits 2.5 g/t Gold Eq. over 34m at the BBM Zone

  Calibre Pours its One-Millionth Ounce of Gold in Nicaragua

  West Red Lake Gold Has New Targets from Surface Sampling

  Gold Road Announces Strong Outlook and Guidance for Gruyere in 2025

  G Mining Ventures Outlines Outlook for 2025

  Ora Banda Mining December Activities Report

  Mining Review 26th January 2025

  Wesdome Gold Provides Eagle River Exploration Update

  Capricorn Announce the Acquisition of Deadman Flat Project

  Westgold Production lifts again in Q2, FY25

  Calidus Resources Delisted From the ASX

  West Red Lake Gold Intersects 45.70 g/t Au over 3.85m

  Lefroy and BML Ventures to Advance the Lucky Strike Gold Deposit

  Gold Road Announce Positive Gilmour PFS

  Mining Review 19th January 2025

  American Creek’s JV Partner Tudor Gold Intensifies Exploration Efforts

  Orla Mining Achieves Record Annual Gold Production

  Meeka Metals Announce High-Grade Gold at Turnberry

  Meeka Metals – Initiating Coverage

  Orla’s Proxy Advises Shareholders to Vote for the Musselwhite Acquisition

   Westgold Group Production Lifts in Q2 FY25

  Mining Review 12th January 2025

  Calibre Delivers Record Q4 Gold Production of 76,269 Ounces

  Faraday Copper Intersects 40.06 m at 0.78% Copper

  West Red Lake Gold Announces Positive Pre-Feasibility Study for Madsen

  G Mining Ventures Receives Vital Permit for Oko West

  G2 Goldfields Announces Filing of Reports for Proposed Spin-Out

  Gold Road Announces Record Production in December

  Mining Review 5th January 2025

  Perpetua Receives the Final Permit for Stribnite

  American Creek Resources Announces Amendment to Plan of Arrangement

  Market Review for December 2024 published

Live metal prices can be found HERE

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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,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

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Mining Review 26th January 2025

Westgold increased production in Q2 2025.  

Gold Road Resources, West Red Lake Gold Mines, and Wesdome made positive news announcements

Catalyst Metals

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City Investors Circle Mining Review 26th January 2025

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Westgold increased production in Q2 2025, but the AISC of A$2,725 look very high to me. Luckily the current gold price in Australian dollar is A$4,390, so still a healthy margin, but the market has taken note of the high AISC.

Capricorn Metals acquired the Deadman Flat gold project that adjoins their Karlawinda gold project, consolidating the area, which clearly makes sense. Better to acquire early rather than have to pay more later, and perhaps have competition. I expect the same to happen to BPM Minerals if they succeed at Mt. Gibson, Capricorn’s other gold project.

Gold Road Resources, West Red Lake Gold Mines, and Wesdome made positive news announcements.

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rchives

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Other news releases from companies on our watchlists were

Ora Banda Mining sees a major shareholder lower their stake

Zacks select Orla Mining for outstanding growth in 2025

RBC Capital maintains its buy rating for Orla Mining

G Mining interview with VP IR at Metals Investor Forum

G Mining Ventures price target raised at CIBC

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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

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.DDeclaration

At the time of writing the author may hold positions in any of the stocks mentioned.

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Lefroy Exploration (ASX: LEX)

Announced that it has entered into an exclusivity and Heads of Agreement with BML Ventures Pty Ltd to negotiate a mining and profit-sharing agreement for the Lucky Strike Gold Project.

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Comment

This looks like a very sensible deal, given the high gold price in Australian dollars.

Other junior miners are looking to emulate this to cash in on the high gold price and avoid dilution by producing early cashflow.

The Lucky Strike deposit contains a resource of 1.27 Mt at 1.95 g/t Au for 79,600oz.

Lefroy has  signed its own 50-50 profit sharing agreement with BML, who puts up all the capex, which is generally pretty low. After that it’s a 50-50 profit share from the surplus that comes out of the toll treatment agreement.

The higher price of gold in Australian dollars encourages this type of mining agreement, which aligns with my personal prererence for mines going into early production to minimise dilution.

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Lefroy signs Agreement with BML Ventures to advance development of the Lucky Strike gold deposit

Lefroy Exploration Limited (ASX: LEX)  (“LEX” or “the Company”) is pleased to announce that it has entered into an exclusivity and Heads of Agreement with BML Ventures Pty Ltd (“BML”) to negotiate a mining and profit-sharing agreement for the Lucky Strike Gold Project (“Lucky Strike”).

HIGHLIGHTS

• Lefroy has executed an Exclusivity and Heads of Agreement with BML Ventures
Pty Ltd (BML) to support development of the Lucky Strike Gold Project with a
MRE of 1.27 Mt @ 1.95 g/t Au for 79,600 ounces.
• BML is a private mining contractor, with a proven track record of advancing
open pit gold mines in the Kalgoorlie-Kambalda region of WA, including their
recent collaboration with Auric Mining (ASX:AWJ) at Jefferys Find
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• This agreement provides the framework for both parties to complete
negotiations towards finalising a binding mine profit share agreement.
• The indicative non-binding material terms of the Exclusivity and Heads of
Agreement include:
o Once all upfront BML costs have been recovered, the net surplus cash
(profit) to be split between LEX 50% and BML 50%;
o On successful execution of a Profit-Sharing Agreement, BML will
coordinate and fund all pre-production mining approvals, capital and
ongoing operating costs; and
o BML to coordinate toll milling negotiations and scheduling with third party
mill processing plant operators.
• The parties have agreed to enter into binding exclusivity arrangements (30
business days) to complete due diligence and further negotiate and finalise a
Profit-Sharing Agreement in relation to the Lucky Strike Gold Project.
For details of the mine share agreement between Auric Mining and BML Ventures, refer to AWJ ASX

• Lucky Strike represents the first of a potential series of growth projects for the
Company with additional gold resources at Mt Martin and Burns Central
(together with Lucky Strike) totalling greater than 1 million ounces of gold.

LEFROY CEO, GRAEME GRIBBIN, COMMENTED:

“We are excited to embark on this major next step, in partnership with BML Ventures, towards unlocking value from our high-grade gold resource at the Lucky Strike Project.

 

“Partnering with a highly experienced mining contractor, we look forward to finalising negotiations with BML Ventures over the coming weeks, to secure a mine profit share agreement.

 

“The proposed mining and profit share agreement, whilst mutually beneficial to both parties, presents a very low risk pathway to development for Lefroy, with upfront capital
and ongoing operating costs funded by BML Ventures.”

BML Ventures is a privately owned mining contractor based in Kalgoorlie.

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To read the full news release, please click HERE

The live gold price can be found HERE

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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This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds  shares in Lefroy Exploration

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Gold Road (ASX: GOR)

Announced a positive PFS for their Gilmour gold project, with a low capex, and a mining start date of late 2026.

The project pre-tax free cash flow estimated at A$377 million at a flat A$3,500 per ounce and A$569 million at a flat A$4,300 per ounce gold price assumption.

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GOLD ROAD ANNOUNCE A POSITIVE GILMOUR GOLD PROJECT PRE-FEASIBILITY STUDY & MAIDEN ORE RESERVE

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Gold Road Resources (ASX: GOR) Announced a positive PFS for their Gilmore gold project, with a low capex, and a mining start date of late 2026.

The project pre-tax free cash flow estimated at A$377 million at a flat A$3,500 per ounce and A$569 million at a flat A$4,300 per ounce gold price assumption.

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HIGHLIGHTS

 The Gilmour pre-feasibility study (PFS)1 presents an after-tax net present value (NPV5%) of A$231 million at a flat gold price of A$3,500 per ounce and A$354 million at a flat gold price of A$4,300 per ounce.
*
 Project pre-tax free cash flow estimated at A$377 million at a flat A$3,500 per ounce and A$569 million at a flat A$4,300 per ounce gold price assumption.*
 PFS mine life of 5 years averaging 50,300 ounces per annum at an average AISC of A$2,004 per ounce, producing a life of mine total production of 0.25 million ounces at 3.9 g/t Au from underground and open pit.
* Orebody remains open at depth with drilling planned for 2025.
 High-grade underground mine producing 0.20 million ounces over 4-year underground mine life.
*
Comprising a high-grade component of 0.10 million ounces at 9.34 g/t Au and lower
grade component of 0.10 million ounces at 3.89 g/t Au.*
 Establishment capital is estimated at $36 million which includes site infrastructure and haul roads. Ore is modelled as being hauled to the Gruyere process plant, 60 kilometres by road.
No additional growth capital outside of AISC and the initial establishment capital.
*
 Project remains on schedule to be shovel ready from late 2026, with the timing of initial production to be optimised in line with the future Gruyere Joint Venture ore processing schedule.
As at 31 December 2024, the maiden Gilmour Ore Reserve totals 1.5 million tonnes at 4.10 g/t Au for 0.19 million ounces.
*
The Ore Reserve is derived from open pit and underground designs at a gold
price of A$2,250 per ounce and includes:
 High-grade underground Ore Reserves of 0.6 million tonnes at 6.6 g/t Au for 0.13 million ounces* , and
 Open Pit Ore Reserve of 0.8 million tonnes at 2.2 g/t Au for 0.06 million ounces*
.

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Cautionary Statement

The Pre-feasibility Study (PFS) life of mine total production (and derived forecast financial information) referred to in this announcement is under pinned by Indicated Mineral Resources of approximately 72% and Inferred Mineral Resources of approximately 28% over the evaluation period.

Ore Reserves are based solely on Indicated resources.

There is a low level of geological confidence associated with Inferred Mineral Resources and there is no certainty that further exploration work will result in the determination of Indicated Mineral Resources or that the production target
will be realised.

The Company believes it has a reasonable basis to disclose a production target that includes some Inferred Mineral Resources as the Inferred Resources are not a determining factor in the viability of the Gilmour Project.

Importantly, the feasibility of the development scenario outlined in the PFS does not hinge on the current Inferred Mineral Resources.

* See cautionary statement and forward-looking statement on pages 1, 2 and 10 of this announcement respectively 1 The PFS Life-of-Mine plan assumes 0.18 million ounces classified as Indicated, 0.07 million ounces classified as Inferred.

Duncan Gibbs, Managing Director and CEO said:

“This is a significant outcome for shareholders and a pleasing return on our ongoing exploration efforts at our 100% owned Yamarna Project.

 

“Gold Road has a history of delivering value to shareholders and we remain focused on making further discoveries across our Australian portfolio.”

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To read the full news release, please click HERE

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The live gold price can be found HERE

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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=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds  shares in Gold Road Resources

.

Mining Review 19th January 2025

Orla Mining announced results that beat the improved guidance for the year by 19%.

Westgold is set to increase production in Q1. Meeka Metals announced a high-grade gold dicovery at Turnberry, Murchison.

Archives

Mining Review 12th January 2025

Calibre Mining and Gold Road Resources both declared record gold production in December 2024, after slightly missing guidance earlier in the year.

The price of gold is climbing despite the US dollar and US Treasury rates climbing, a sign of political and economic uncertainty?

Faraday Copper Property – Arizona

City Investors Circle Mining Review 12th January 2025

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For UK investors invested in physical gold, and / or Australian, American, and Canadian stocks, the lower value of the pound increases the value of those investments, so it’s a useful hedge against the UK Labour party train wrecking the economy, which they seem determined to do in short order.

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Capricorn Metals (ASX: CMM)

Advised that Chief Executive Officer (CEO) Kim Massey will retire at the end of January 2025. Kim has overseen the transition of Capricorn from an advanced exploration company to a low-cost gold producer with multiple growth projects.

Current Chief Operating Officer (COO) Paul Criddle has been appointed CEO, reporting to Executive Chairman Mark Clark, effective 3 February 2025.

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Capricorn Metals projects location map

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Capricorn Metals Announces CEO Retirement and Succession

Capricorn Metals Limited (ASX: CMM) (Capricorn or the Company) advises that Chief Executive Officer (CEO) Kim Massey will retire from the role at the end of January 2025.

In his five years as CEO Kim has overseen the transition of Capricorn from an advanced exploration company to a low-cost gold producer with multiple growth projects.

Beyond his retirement, Kim will remain a part time consultant to the company ensuring the retention of his knowledge and expertise.

In the last six months Capricorn has undertaken a programme of recruitment of high-quality senior executives to bolster management depth as the company embarks on delivering its significant growth ambitions in the coming years.

This proactive approach to right sizing management for the future means that Capricorn is well placed for an orderly transition on Kim’s retirement. 

The Capricorn board is pleased to advise that current Chief Operating Officer (COO) Paul Criddle has been appointed CEO, reporting to Executive Chairman Mark Clark, effective 3 February 2025.

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Paul is a metallurgist with extensive experience in developing and operating gold mines in both Australia and Africa.

Since joining Capricorn in May 2024 Paul has overseen or been actively involved in:
• continued strong operational performance at the Karlawinda Gold Project (KGP);
• delivery of an increase in KGP gold ore reserves to 1.43 million ounces;
• delivery of a board approved expansion study to deliver growth in production at KGP to 150,000 ounces per annum;
• leading role on Mt Gibson Gold Project (MGGP) permitting, culminating in the recent
submission of Capricorn’s Public Environmental Report (PER) to the Department of Climate Change, Energy, the Environment and Water (DCCEEW) under the Environment Protection and Biodiversity Conservation Act 1999 in accordance with guidelines for the PER developed by DCCEEW and issued to Capricorn in July 2024;
• completion of successful $200 million capital raising to underpin growth;
• delivery of an increase in MGGP gold ore reserves to 2.6 million ounces; and
• significant shareholder, investor and equity market engagement.

Prior to joining Capricorn, Paul most recently held the roles of Chief Development Officer and COO at TSX listed Roxgold Inc from 2013 until its CAD$1.1 billion takeover by Fortuna Silver Mines Inc in 2021. 

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To read the full news release please click HERE

.

The live Spot gold price can be found HERE

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

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in Capricorn Metals

.

To read our full terms and conditions, please click HERE

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Mining Review 29th December 2024

We list our watchlist additions for the New Year, G2 Goldfields, Astral Resources, Awale Resources, Exploits Discovery, and First Atlantic Nickel.

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The sun sets on 2024 at Orla Mining’s Camino Rojo mine in Mexico

City Investors Circle Mining Review 29th December 2024

Neometals made the news this week decalring their intention to delist from the London AIM Market, basically due to the lack of liquidity in the stock in London and difficulty in finding financing partners.

THis move makes sense in my opinion, there’s no point in paying the expensive AIM listing fees if you’re unable to raise capital nor generate investor interest in your company.

——-

All the news from our companies is listed below, please click on the link to be taken to the full story.

  Neometals to Delist from the London AIM Market

  G2 Goldfields – Initiating Coverage

  City Investors Circle Watchlist additions

  Merry Christmas from City Investors Circle

  City Investors Circle Watchlist Deletions

  Ora Banda Mining Wins The Mining.com.au Masters of Mining Emerging Explorer Award.

  Mining Review 22nd December 2024

.

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

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.D

City Investors Circle

Following the review of our watchlists for 2025, which resulted in the deletion of a few non performing companies, we have added a few new companies which I have met recently, and I feel have a good chance of making positive progress next year.

These include G2 Goldfields, Astral Resources, Awale Resources, Exploits Discovery, and First Atlantic Nickel.

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City Investors Circle Watchlist additions for 2025

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City Investors Circle – London

Following the review of our watchlists for 2025, which resulted in the deletion of a few non performing companies, we have added a few new companies which I have met recently, and I feel have a good chance of making positive progress next year.

There are no guarantees of course, but I feel meeting the person running the company is important and a good first step in establishing trust.

——-

I have attended conferences in London and Zurich, and in general was disappointed in the selection of companies available.

Many were early stage junior explorers, which is a difficult area of the market at the moment, and probably the reason they are out on the road using up precious funds in the hope they might meet people willing to invest in the next financing.

When you exclude those low market cap early stage exploration companies, the number of companies remaining to possibly meet is much reduced.

I then exclude those companies with projects in jurisdictions that are not tier 1, and the choice becomes very limited indeed. (I include the Ivory Coast and Ghana as tier 1).

The London conferences allow two way interaction between investors and companies on their meeting platforms, resulting in me receiving over 50 invites that I declined in each conference. They seem to employ a scatter gun approach.

The Swiss, as you would expect, do things better. There you simply send a list of the companies you wish to meet and they schedule it for you, perfectly.

——-

During conferences I like to have no more than two meetings back to back, and then a gap for cofee, writing notes, comfort breaks etc.

The Swiss are good at scheduling this for me. I see no value in slogging around company after company making meetings in companies that aren’t of any interest to me just for the sake of it. It’s a waste of their time, and mine.

——-

I am pleased to report that I found a few companies out of these conferences that I liked, and have decided to add to next year’s watchlists.

These include Astral Resources, Awale Resources, Exploits Discovery, First Atlantic Nickel, and G2 Goldfields.

G2 Goldfields will be included in my tier 2 (advanced explorers), Astral and Awale will go into the (less advanced explorers) tier3, and Exploits Discovery and First Atlantic Nickel, because they’re early stage, will be placed in tier 4. (Very early stage explorers).

I will introduce each company in turn, starting with G2 Goldfields on the 27th December.

.

The live Spot gold price can be found HERE

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

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds no shares in any of the companies mentioned in thsi article

.

To read our full terms and conditions, please click HERE

.

Mining Review 22nd December 2024

A busy week for news as the festive season approaches.

Westgold Announced an increase to production at Meekathara, and Ora banda Mining interescted first gold at Sand King.

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Ora Banda Mining Riverina portal

City Investors Circle Mining Review 22nd December 2024

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A busy week for news as the festive season approaches.

Westgold Announced an increase to production at Meekathara, and Ora banda Mining intersected first gold at Sand King.

All the news from our watchlist companies in the last week is below, click the lonks to be taken to the full story.

   Perpetua Resources Announced Continued Cooperation with U.S. Antimony

  Ora Banda Mining Intersected First Ore at Sand King

  Galiano Gold Announced a Buyout Of Offtake Agreement

  Westgold Announced Crown Prince Ore to Increase Production at Meekatharra

  PacGold Finds An extensive Geochemical Anomaly at Alice River

  Capricorn Metals Reserves Grow to 4 Million Ounces of Gold

  West Red Lake Gold Envisions a High-Grade Underground Satellite at the Fork Deposit

  Mining Review 15th December 2024

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Mining Review 8th December 2024

Mines and Money London was a fairly lively conference, but with few companies that excited me.

Westgold announced an increased resource, and Calibre Mining denied an announcement by Condor Gold.

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Mines and Money London- The magnificent Business Design Centre, at Islington.

Mining Review 8th December 2024

Mines and Money London was a fairly lively conference, but with few companies that excited me.

I guess I’ve attended too many conferences and become too aware of the slim chances of companies starting exploration in moose pasture in the back of beyond in the Yukon or Alaska becoming mines in the future.

Those type of companies dominate most mining events these days, with producers and late stage development companies funded through to production being in the minority.

I did like Exploits Discovery as a nearology play to New Found Gold in Newfoundland. I also liked Awale Resources, and Scottie Resources, and I am going to research further before making any invesment decisions.

Borealis Mining enters the Hall of Shame for their non show for an arranged meeting with no apology. Apalling behaviour and a total lack of professionalism.

——-

Canadian tax loss selling is occuring so there should be at least another week of opportunity before prices might start to rise again, if not longer.

——-

In this week’s news Westgold announced an increased resource, and Calibre Mining denied an announcement by Condor Gold regarding bidding for their asset in Nicaragua.

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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

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.D

Mining Review 24th November 2024

The Swiss Mining Institute Conference in Zurich was a lively affair, with a good number of investors participating.

Orla Mining’s purchase of the Musselwhite operating mine was the big news of the week.

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Swiss Mining Institute Conference, Zurich

Mining Review 24th November 2024

The Swiss Mining Institute Conference in Zurich was a lively affair, with a good number of investors participating.

As one would expect with an event organised in Switzerland, everything from the initial registration through to the dinner on the final evening went smoothly. Swiss Mining Institute run a good show, Sarah at registration keeps tabs on everything, and ensures meetings take place by chasing around to find companies not located on their booths.

I really enjoy this conference, the booths are arranged in alphabetical order which makes navigation between meetings easy. The location is the wonderful Dolder Grand Hotel, at the top of the mountain overlooking the city of Zurich.

My route there is via tram and then the Dolderbahn rack railway which runs up the side of the mountain to the hotel at the top.

The only downside was the weather, where a heavy snowfall resulted in the closure of the airport in the evening and my return flight being cancelled on Friday, necessitating a stop-over until Saturday morning.

——-

Mining Review

Orla Mining’s purchase of the Musselwhite operating mine in Canada was the big news of the week. This was unexpected, an announcement out of the blue, that Orla had purchased this operating gold mine in Canada for around $850 million from Newmont.

I do wonder if they are having delays at their South Railroad project so made this purchase to maintain their growth strategy until South Railroad permits are received?

Either way this should double their production and if gold moves higher will look like an opportune deal. They will look to increase the resource with further exploration.

Calibre Mining, who I met at the conference, announced another discovery in Nicaragua, that should lead to an increase in resources in the near term. Valentine construction is nearly complete and should commence initial production in H2 2025.

Calibre look to be on track, the next challenge is to see if they bring Valentine online on time and budget.

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A list of news from our watchlist companies is below, please click the link to be take to the full story.

 Swiss Mining Institute Conference Day 2

  Swiss Mining Institute Conference Day 1

  G Mining Ventures Reported Q3 2024 Production and Financial Results

  Calibre Mining Announce a  Significant High-Grade Mineralization at Limon

  Orla Mining Expands into Canada with Musselwhite Acquisition

  Westgold’s Bluebird – South Junction MRE Grows to 1.4Moz

  Mining Review 17th November 2024

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..

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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

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

.D

Swiss Mining Institute Conference Day 2

A chilly but bright start to the final day of the conference.

Another seven meetings to look forward to, five involving new companies to me, including Soma Gold, PYX Resources, Aya Gold and Silver, Tudor Gold, and Goliath Resources.

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Swiss Mining Institute Conference Day 2

A chilly but bright start to the final day of the conference.

Another seven meetings to look forward to, five involving new companies to me, including Soma Gold, PYX Resources, Aya Gold and Silver, Tudor Gold, and Goliath Resources.

I also had catchup meetings arranged with Calibre Mining and Cornish Metals.

——-

My morning started smoothly, as soon as I arrived at the tram stop there was just enough time to buy the ticket before the tram arrived.  Six minutes later it was the change to the Dolderbahn railway, and a ride up the steep slope to the hotel at the top of the mountain.

——-

My first meeting was with Soma Gold, a producing gold company in Colombia, expanding production, and has  connection to UK listed Red Rock Resources through a royalty arrangement on their Limon Mill, which is about to re-start production.

The company looks good but management own around an incredible 74%!of the stock, which I don’t really like, although it does mean they are aligned with shareholders as they own most of the shares themselves!

When I asked for details about the mil the presenter became agitated and evasive, and wouldn’t give me the answer I required. This really put me off what otherwise seems a reasonable story. I might follow but I doubt I will invest.

PYX Resources were next, and a more friendly meeting ensued. They are listed in both Australia (NSX) and London, and focused on mineral sands in Kalimantan, Indonesia. Looking at the chart the stock has fallen badly in the last 12 months so I want to review before commenting further.

——-

Aya Gold and Silver were next, and a sit down meeting in the bar for a change. This is a very interesting silver production story, with the company in production in Morocco, with a large exploration plan and a potential new large silver discovery.

Aya have not achieved all their objectives in 2024, but have offset some of their underground mining difficulties by mining more from their open pit. Even so guided production was missed and the share price has fallen, which may present an opportunity for anyone looking to enter the stock for the first time.

——-

Calibre Mining rounded off the morning with a strong catch-up presentation outlining their news since I last met them.

Construction at the new Valentine gold mine in Newfoundland is progressing well, but it looks as though production won’t start until H2 2025 now, slightly later than guided.

They have recently enjoyed some exploration success in Nicaragua, and are also drilling in Nevada, with a view to bringing their second mine there into production by trucking ore to their Pan mine plant

——-

Tudor Gold was the first afternoon meeting, and I was anxious to hear about the legal dispute with Seabridge, who are wanting to plough a 26 km tunnel through the mountain and straight through Tudor’s orebody, which would deprive Tudor of a part of their gold resources.

I also enquired about their thoughts on the American Creek token buyout from Cunningham Mining, and finally their exploration plans for next year.

Tudor look to be a decent company but the legal threat from Seabridge looms on the horizon, so one I’m going to avoid for now.

——-

Cornish Metals was my last meeting, and a quick catch-up, again all positive although I noted the date for the completion of the shaft remediation and dewatering has slipped by around 6 months or so.

My final scheduled meeting of the day, Goliath, had an empty stand, and after sitting around for a few minutes was advised they were in the Library. I went there but they weren’t there so gave up at that point and went networking instead.

So, two companies were not on their stand for scheduled meetings, which is not very impressive because both were present at the conference. To behave in such an unprofessional manner reflects poorly on them and my interest has gone.

If they were called away a quick note would have sufficed, or let the organisers know so they can pass on a message.

The live gold price can be found HERE

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

.

=======

,

This website is not sponsored, we are truly independent, and will always remain so.

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.

These articles are for awareness and informational purposes only, and are not recommendations in any form.  Always consult an investment professional.

.

Disclosure

At the time of writing the author holds shares in some of the companies mentioned.

.