Mining Review 26th May 2024

Gold Road Resources is the subject of some bid rumour speculation in Australia, with Gruyere JV partner Gold Fields’ name being mentioned amongst others.

Aris Mining now owns 51% of Soto Norte in Colombia, Impact Minerals reported they are financed to complete the Lake Hope pre-feasability study, and West Red lake Gold Mines reported more decent gold intercepts.

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Impact Minerals – Lake Hope HPA project

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City Investors Circle Mining Review 26th May 2024

Another week on the roller coaster ride that constitutes the markets these days, with precious metals taking a fall after their recent strong run, once again because of doubts of any US rate cuts this year, and even the odd rumour that rates may have to rise!

Silver was down nearly 4%, and gold nearly 3% as a result, with platinum and palladium also being hammered. The precious metal ETFs took a real pummelling, down around 4% on average.

Base metals are going in the opposite direction as markets are turning positive about the Chinese economy again, despite plenty of evidence their real estate market is in turmoil and requiring urgent governement support, see HERE.

Iron ore lead the way with a 5% rise, with nickel, copper, and zinc all healthily up.

Where will we be next week I wonder?  I’m surprised the Biden camp haven’t tried to force the FED to reduce rates given the forthcoming election and their poor rating in the polls.

Zimbabwe has introduced a gold backed currency, the ZIG, where all the currency issued will be backed by gold reserves.

The IMF have now endorsed the ZIG, see HERE

Gold Road Resources is the subject of some bid rumour speculation in Australia, with Gruyere JV partner Gold Fields name being mentioned amongst others.

West Red Lake Gold Mines reported more decent gold intercepts, and Impact Minerals reported they are financed to complete the Lake Hope pre-feasability study.

I bought a small initial investment in Impact Minerals this week as I’m impressed by the steady progress they’re making as a company, and in particular the Lake Hope HPA project, that really does look exciting, and, if it realises its potential, would be a company maker.

All news from our watchlist companies is below, click on the links to read the full story.

  Aris Mining to Increase Ownership of Soto Norte to 51%

  Cornish Metals Land Purchase at South Crofty

  West Red Lake Gold Mines Intersected 37.33 g/t Au over 2.79m

  Neometals Final Stage of ELi™ Pilot Trial Commences

  Impact Minerals funded to complete Pre-Feasibility Study at Lake Hope

  Gold Road Rose on Potential Bid Target Rumours

  Mining Review 19th May 2024

Market Data

Weekly price changes

(US$ unless stated)

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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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West Red Lake Gold Mines (TSX.V: WRLG)

Announced today that, as a result of a review by the British Columbia Securities Commission, the Company is issuing the following news release to clarify certain information.

In an email circulated on behalf of the Company, certain disclosure was made regarding mineral reserves. The Company retracts such statements.

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Comment

This looks clumsy, to say the least.

Confidence in management needs to be restored after this, now trading at 66 cents after a recent high of C$1.04 tells its own story.

I wonder what caused the company to restate the terms of the recent financing from a half warrant to a full warrant?

I have come close to investing in WRLG on several occasions, but the time was never right after the rapid rise in price. I’m pleased I resisted the temptation to chase the price, plenty of time before production to buy a dip if there is one.

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Mining Review 12th May 2024

Gold Road Resources are diluting their position in De Grey Mining by not fully participating in the De Grey A$600 million financing.

Thesis Gold and West Red Lake reported good news. Red Pine reported very serious news

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City Investors Circle Mining Review 12th May 2024

It was a bumper week for both precious and industrial metals, with only Lithium, iron ore, and thermal coal in negative territory.

Lithium was down on weak demand as some auto makers look to cut production of EVs due to lack of consumer demand. The Chinese are producing millions of EVs and the USA and the EU are looking to employ protectionist measures to prevent the Chinese selling into their markets due to the lower production costs in China.

That of course means the Chinese will simply sell their cheaper vehicles into less developed markets, mainly in Asia and possibly S. America.

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Turning to company news, it was a quiet week on the drilling front, but we still had a few nuggets from our watchlist companies.

But firstly, I should mention the growing scandal at Red Pine Exploration (TSX.V: RPX). The stock took a 60% hit on the 1st May when they withdrew all previous assay results from their Wawa Project, due to “inconsistencies” with them, see here.

The company then appointed an independent lab, WSP Global, to verify the data, and the stock bounced 50% on this news. I considered a quick punt thinking that once assays were independantly verified, the stock would regain most of its loss and I could make a quick turn and keep the profit as free shares.

I didn’t do that though, as I just didn’t feel that confident that things would work out, and that turned out to be a good decision!

The company has now announced “based on the findings made to date, Red Pine believes that the reporting inconsistencies disclosed in the Prior Press Releases resulted from the unauthorized manipulation of certain assay results received from Activation Laboratories Ltd. (“Actlabs”) by the Company’s former Chief Executive Officer (the “Former CEO”).” See here.

The stock fell around 30% in response, and is back at 8.5 cents again.

Wow!  Not exactly Bre-X, but the same thing on a smaller scale!   They wouldn’t make such a public statement unless they were sure for fear of facing a heavy defamation lawsuit.

Red Pine was a hot stock for a while. They came to a London conference, and I booked to meet them, with a view to investing. At the last minute they cancelled my meeting, with no reason given. Feeling a bit miffed at the unprofessional manner they handled it, I never invested.

I am now very grateful to the person that cancelled my meeting without having the courtesy to give me a reason!  When management act like that, I never invest!

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Gold Road Resources‘  position in De Grey Mining is being diluted due to that compay’s A$600 million financing. Despite Gold Road’s participation, it will result in a fall in their stake to just over 17%.

Thesis Gold announced a measured and indicated resource of 4 million ounces of gold, and West Red Lake Gold Mines reported more high-grade-gold intercepts around their Madsen Mine.

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To read all the news for the week, please click on the links below to be taken to the full story.

  Gold Road Resources Lowers De Grey Mining Stake

  West Red Lake Gold Mines Intersected 21.33 g/t Au over 3.1m

  Calibre Mining To Update On The Valentine Gold Mine

  Karora Resources and Westgold Merger Presentation

  Gold Road Resources Results Presentation

  Thesis Gold Announced an M & I Resource Of 4 Moz

  Mining Review 5th May 2024

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Market Data

Weekly % Price Changes

(US$ unless stated)

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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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Global Mining Finance Conference – London

The initial line-up of presenting companies has been released for the Spring Conference on Tuesday 21st May 2024, in the City of London.

Presenting include Wheaton Precious Metals, plus three exciting junior mining companies.

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Ariana Resources’ Chris Sangster addresses a full house at the Global Mining Finance Conference amid the splendour of The Armourers’ Hall

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Global Mining Finance Conference

The initial line-up of presenting companies has been released for the Spring Conference on Tuesday 21st May 2024, in the City of London.

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Presenting include Wheaton Precious Metals, plus 5E Advanced Materials, Collective Mining, and MFE Magnesium For Europe.

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Sponsoring keynote speakers are Arch Emerging Capital Partners and Montbleu Finance SA.

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To register for a complimentary delegate pass, please click HERE

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To read our full terms and conditions, please click HERE

Mining Review 21st April 2024

Gold Road Resources made the major news this week when they confirmed media speculation that they are negotiating to buy a stake in a Canadian gold mine, and also conformed the resumption of mining at their Gruyere Mine.

Calibre Mining, and West Red Lake Gold reported high-grade gold intercepts.

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City Investors Circle Mining Review 21st April 2024

The price of gold stayed strong, defying the midweek news about no imminent FED rate cuts to stay just under $2400 per ounce.

Gold Road Resources made the major news this week when they confirmed media speculation that they are negotiating Gold Road confirms its participation in a sale process conducted by Orion Resource Partners (USA) LP for Greenstone Gold Mines.

They also confirmed the resumption of mining at their Gruyere Mine in Western Australia, after using alternate northerly roads to circumvent the flood affected road that prevented supplies reaching their mine.

Calibre Mining, and West Red Lake Gold reported high-grade gold drill intercepts.

Galiano Gold produced steady 2024 production and cost guidance for their mine in Ghana.

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To read all of this week’s stories of significance from our watchlist companies, please click on the links below.Archives

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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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West Red Lake Gold Mines (TSX.V: WRLG)

Announced the arrival of a second underground diamond drill at its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.

A second diamond drill has been added at Madsen to continue growing and de-risking this high-priority, near-mine resource area.

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West Red Lake Gold Mines Ltd.(TSXV: WRLG), (“West Red Lake Gold” or “WRLG” or the “Company”) (OTCQB: WRLGF)is pleased to announce the arrival of a second underground diamond drill at its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.

In response to the recent drilling success at the newly defined North Austin zone, a second diamond drill has been added at Madsen to continue growing and de-risking this high-priority, near-mine resource area.

Based on positive results from recent underground drilling programs at Madsen, two near-mine expansion areas – North and South Austin – have been prioritized for immediate expansion and infill drilling.

The two focus areas sit adjacent to existing underground development marking them both as high caliber targets that could potentially be developed early during future mine restart and production. It’s important to note that successful drilling in these areas is expected to add growth to the existing Madsen resource, bringing new ounces onto the books in areas not previously mined.

 

 

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Shane Williams, President & CEO, stated,

“The addition of a second underground drill at Madsen will expedite our efforts in de-risking the resource and building a runway of high-confidence mineable inventory that will be critical during restart of mining operations.

 

“The North and South Austin Zones have already demonstrated potential for grade and continuity and our team looks forward to continuing to advance these two high-priority areas simultaneously with the underground drilling program.”

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Previously announced highlights on the North and South Austin drilling can be viewed at the following links:

• West Red Lake Gold Intersects 27.15 g/t Au over 10.28m and 22.31g/t Au over 8.5m at North Austin Zone – Madsen Mine(November 21, 2023)

• West Red Lake Gold Intersects 47.44 g/t Au over 3.2m, 21.64 g/t Au over 7m and 296.83 g/t Au over 1m at South Austin Zone – Madsen Mine(December 5, 2023)

• West Red Lake Gold Intersects 9.15 g/t Au over 3.3m and 10.66 g/t Au over 2.6m at North Austin Zone – Madsen Mine(February 7, 2024)

• West Red Lake Gold Intersects 25.12 g/t Au over 5.5m, 39.46 g/t Au over 2m and 18.60 g/t Au over 4m at South Austin Zone – Madsen Mine(March 4, 2024)

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Since underground drilling resumed in early January 2024 the Company has completed 3,671m of Expansion drilling and 2,916m of Definition drilling.  In total, 65 diamond drill holes for 6,587m have been completed so far in 2024 at the Madsen Mine.

 

Gold Road Resources (ASX: GOR)

Notes media speculation in The Australian regarding the potential acquisition of an interest in the Greenstone Gold Mines in Canada.

Gold Road confirms its participation in a sale process conducted by Orion Resource
Partners (USA) LP for Greenstone Gold Mines.

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Comment

This company never ceases to amaze me.

 

Every time the share price starts to rise, they make an announcement to drag it back down again!

 

Operational difficulties and severe weather events are, of course, part of the natural risks involved in investing in mining companies, but why oh why do they see the need to cross the planet to invest in a project, when in Western Australia, and the cuountry as a whole, there are an abundance of gold projects?

 

The market clearly doesn’t like this news any more than I do, and I can understand why.

Gold Road Resources Response to Media Speculation

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Gold Road Resources Limited (ASX; GOR) (Gold Road or the Company) notes media speculation in The Australian regarding the potential acquisition of an interest in the Greenstone Gold Mines in Canada.

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Gold Road confirms its participation in a sale process conducted by Orion Resource
Partners (USA) LP for Greenstone Gold Mines.

This participation remains on going and Gold Road has not entered into any definitive acquisition agreements with respect to Greenstone Gold Mines.

Gold Road continues to evaluate strategic opportunities and will only pursue acquisitions if it is in the best interests of its shareholders.

The Company will keep the market informed in accordance with its continuous disclosure obligations.

This release was authorised by the Managing Director and CEO, Duncan Gibbs.

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To read the full news release, please click HERE

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Live spot metal prices can be found HERE

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To read our full terms and conditions, please click HERE

Mining Review 14th April 2024

It was another exciting week for gold, with new all time highs being recorded, before a slight pullback late Friday evening.

The big news of the week was Karora Resources announcing a merger with ASX listed Westgold. Capricorn Metals and Orla Mining reported strong starts to 2024.

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Capricorn Metals Karlawinda Mine

City Investors Circle Mining Review 14th April 2024

It was another exciting week for gold, with new all time highs being recorded, before a slight pullback late Friday evening. Gold had topped out at $2431 at it’s high before the retrace.

Silver slipped back to just under $28 per ounce, after earlier being close to $30 intraday.

On the industrial side, copper had a quiet week after the recent charge, but nickel soared nearly 5%, after the recent long fall, and is now trading at $8.19, well above the recent $7.40 low.

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The big news of the week, and one that disappointed me a great deal, was Karora Resources announcing a merger with ASX listed Westgold.

I thought Karora would grow by acquisition, being in a strong financial position, and mining in Western Australia, where there are an abundance of opportunities to grow. So, I’m personally very disappointed they have taken this route, and I have sold over half my holding already, there are many other producers worth investing in at the moment, so I want to put my money to work somewhere positive.

Karora are offering the incentive of shares in a newco, but in my personal experience they don’t work out well, so I’m not allowing the offer of free shares to distract me from selling a stock that has hit the buffers for now, and putting the funds to work elsewhere.

Capricorn Metals and Orla Mining reported strong starts to 2024. These are well run companies growing by acquisition, and very successfully too. This is why I invested in Karora, as I expected them to follow this model.

I increased my holdings in both these companies this week, using some of the Karora funds.

Exploration companies are off my radar currently as the action is with the producers with the gold price spiking, but I did add a few Pacgold to my existing holding, to bring down my average cost. They seem to have a district scale project, so one I’m happy to buy and put in the bottom drawer whilst they continue to explore the Alice River region.

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Significant news from our watchlist companies this week is listed below, click the links to be taken to the full story.

  Orla Mining Started 2024 with Strong Operating Performance

  G Mining Ventures Provided a Tocantinzinho Project Update

  Calibre Mining’s Q1 Gold Production On Track To Deliver FY 2024 Guidance

  Karora Resurces Announced a Merger With Westgold

  Karora Resources Q1 Results Hampered by Wet Weather

  Capricorn’s Karlawinda Mine Delivers Strong Cashflow

  Mining Review 7th April 2024

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Market data

Weekly Price Changes

(US$ unless stated)

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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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Calibre Mining  (TSX: CXB)

Announced the Company has entered into a key pre-commissioning and commissioning contract with Reliable Controls Corporation of Salt Lake City  for the Company’s Valentine Gold Mine (“VGM”) in Newfoundland and Labrador.

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CALIBRE ENTERS PRE-COMMISSIONING AND COMMISSIONING CONTRACT WITH RELIABLE CONTROLS CORPORATION AND EXECUTES A GOLD PREPAYMENT

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City Investors Circle – London

We wish all our readers a happy and peaceful Easter.

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City Investors Circle – London

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We wish all our readers a happy and peaceful Easter.

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We hope that peace will reign in the areas of conflict in the world and all fighting and war will cease during this time.

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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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Mining Review 24th March 2024

Not much to cheer from our watchlist companies this eek, with Calibre Mining announcing a C$100 million discounted placing, Calibre Resources announcing the same as part of a financial restructure, and Gold Road issuing a disappointing production update from Gruyere.

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Mine portal, Cononish, Scotland

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City Investors Circle Mining Review 24th March 2024

Not much to cheer from our watchlist companies this week, with Calibre Mining announcing a C$100 million discounted placing, Calibre Resources announcing the same as part of a financial restructure, and Gold Road Resources issuing a disappointing production update from the Gruyere gold mine.

This is becoming a habit now for Gold Road, and the stock has fallen 25% from its recent high, despite a record high gold price, very disappointing.

Cornish Metals surprised me by announcing that CEO Richard Williams is to leave the company at this critical stage in its development. It all looks friendly on the surface but the share price has been falling since. I wonder if they are about to raise finance and institutions wouldn’t back Richard?

It will be interesting to see how soon the next financing occurs.

The only good news was by West Red Lake Gold Mines, who announced some more decent drill results.

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

  Cornish Metals 2023 Financal Statements and MD & A

  Calidus Resources Financial Restructure and Discounted Placing

  Calibre Mining Announced a C$100 Million Bought Deal

  West Red Lake Gold Intersects 25.12 g/t Au over 5.5m

  Gold Road Issued a Gruyere Production Update

  Cornish Metals Announced a Change in Executive Management

  Mining Review 17th March 2024

Market Data

Weekly Price Changes

(US$ unless stated)

Metal prices

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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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PDAC 2024 Day 3

The euphoria from the previous day carried forward as a result of the higher gold price which  kept the mood positive on quite a busy third day of the show.

I did notice that many of the green field early stage exloration companies’ booths were quiet, a lot of phone scrolling going on there.

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PDAC 2024 Day 3

The euphoria from the previous day carried forward as a result of the higher gold price which kept the mood positive on what was quite a busy third day of the show.

I did notice that many of the green field early stage exloration companies’ booths were quiet, a lot of phone scrolling going on there.

There were certain hotspots where a group of booths were very busy, but elsewhere foot traffic was slow to non existant. One booth owner I seak to said she was going to try and move to adifferent are next year as her aisle was so quiet.

The one consistency of PDAC is that booth allocations are the same year after year, so if you go on a regular basis it’s easy to find the booths of the companies you’re interested in.

It will be interesting to see if my friend’s booth switch request is granted next year or not.

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The third day, Tuesday, was my final day, as the Wednesay half day is not worth attending, with few CEOs on thr stands early doors after the heavy festivities the night before, and the plane home is rammed.

In all honesty I think two days is just about right for the show, it takes a hard toll on feet and legs, and, unless you have an interest in very eary stage juniors desperate to raise finance, the number of companies with a decent market cap, and an advanced project that could be of interest can be quite low.

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To read our full terms and conditions, please click HERE

PDAC 2024 Day 2

What a difference a day makes in the mining world!

The doom and gloom from yesterday was replaced by optimism as the price of gold soared around $50 to close at $2116. The mood in the show was clearly positive.

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PDAC 2024 Day 2

What a difference a day makes in the mining world!

The doom and gloom from yesterday was replaced by optimism as the price of gold soared around $50 to close at $2116.

The mood in the show was clearly positive, and you could sense the relief in the air as the news spread and many people were checking the latest gold price on their phones all day.

Sadly for many companies in the show the recod high gold price will make little difference. They are, of course, the greenfield explorers trying to establish an exploration programme with little to no cash and a hostile market to attemp to finance in.

One aspect of the show thay has become apparent this year is it’s mainly full of early stage explorers, and has few late stage developemnt companies and even ferer producers.

In the current market that makes for a lot of quiet booths, and the all too familiar sight of bootholderrs staring at their phones.

I chatted to a few of the UL contingent today, Cornish Metals being an interesting chat following their news release today.

Other UK based companies I had a chat to included Conroy Gold, and Southern Cross.

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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To read our full terms and conditions, please click HERE

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PDAC 2024 Day 1

A quiet opening day to PDAC 2024, and the whole show lacked the usual excitement and vibrancy in my opinion.

Booth holders were bemoaning the lack of investors attending, and that they were mainly meeting service providers and people seeking opportunities.

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PDAC 2024 Day 1

It was a quiet opening day to PDAC 2024, for me anyway.

I normally have a feeling of excitement as I descend the escalators on the opening morning, a feeling that I am going to find new and highly investable companies and opportunities, but not this year.

With the markets for mining stocks so beaten up it’s no surprise the usual interest is not there, and the whole atmosphere at the show lacked the usual excitement and vibrancy in my opinion.

Booth holders were bemoaning the lack of investors attending, and that they were mainly meeting service providers and people seeking opportunities.

One reason for the seeming lack of numbers may be that the organisers now charge an entrance fee, whereas before it was free to enter. This rules out the casual local visitors  wandering around looking for free pens and baseball caps I guess, and would account for some drop in the numbers.

One difference I noticed from previous years is that I am not hearing the expression “we are so undervalued”, which has been replaced almost universally by “this crazy market”.

Today, Monday, is professionals day, where Bay Street and the suits arrive, so it should be busier, but will it be more vibrant?

I doubt it, but we shall see.

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Cabral Gold (TSX.V: CBR)

Announced assay results from an additional 12 RC holes testing near-surface oxide material at the Machichie Main Zone, Cuiú Cuiú gold district in northern Brazil.

These holes are part of a drill program designed to better define and quantify the saprolite and blanket gold-in-oxide mineralization at the Machichie target, and could have an impact on the current plans for trial-mining oxide material in that area. 

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Cabral Gold Drills 30m @ 2.6 g/t gold in Oxidized Material 

from Surface at Machichie 

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Vancouver, British Columbia – February 6, 2024 – Cabral Gold Inc. (“Cabral” or the “Company”) (TSXV: CBR) (OTC: CBGZF) is pleased to announce assay results from an additional 12 RC holes testing near-surface oxide material at the Machichie Main Zone, Cuiú Cuiú gold district in northern Brazil.

These holes are part of a drill program designed to better define and quantify the saprolite and blanket gold-in-oxide mineralization at the Machichie target, which is located just 500m northwest of the MG gold deposit and could have an impact on the current plans for trial-mining oxide material in that area. 

Highlights

• RC409 returned 30m @ 2.6 g/t gold from surface in mineralized basement saprolite material including 12m @ 5.6 g/t gold from 11m depth 
•  RC418 returned 9m @ 4.3 g/t gold in mineralized fresh rock from 41m depth including 2m @ 18.6 g/t gold at the start of the 9m interval
•  RC414 returned 13m @ 1.6 g/t gold from surface in mineralized saprolite, including 6m @ 2.8 g/t gold from 4m depth
•  Other significant new mineralized saprolite drill intercepts include 7m @ 2.7 g/t gold from 7m depth in hole RC411, 15m @ 0.6 g/t gold from surface in hole RC412 and 18m @ 0.6 g/t gold from surface in hole RC413

Alan Carter, Cabral’s President and CEO commented,

“These additional RC drill results from Machichie confirm the presence of a significant zone of near surface gold-in-oxide mineralization at Machichie which appears to overlay another primary gold deposit.

 

“Further drilling will be required to fully define the limits to both the weathered gold-in-oxide mineralized material and the underlying hard-rock mineralized zone which was the focus of previous drilling.

 

“Both of these zones remain open along strike and to depth. The proximity of Machichie to the MG gold deposit has significant positive implications for the overall near surface gold-in-oxide resources which are amenable to heap leaching at Cuiú Cuiú, as well as the underlying resource base in fresh intrusive basement rocks.”

 To read the full news release, please click HERE

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West Red Lake Gold Mines (TSX.V: WRLG)

Reported drill results from its 100% owned Madsen Mine located in the Red Lake Gold District of Northwestern Ontario, Canada.

This round of drill results from the Madsen Mine were all drilled from underground on the North Austin Zone, which represents a new area of high-grade mineralization.

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Calibre Mining (TSX: CXB)

Announced additional exciting results from its 2023 exploration and delineation drilling program at the Panteon VTEM Gold Corridor at the Limon Mine Complex.

Previous results led to the discovery of the Panteon North deposit which yielded over 240,000 ounces of Proven and Probable Mineral Reserves.

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Calibre Mining – El Limon Mine, Nicaragua

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CALIBRE CONTINUES TO INTERCEPT BONANZA GRADE DRILL RESULTS ALONG THE MULTI-KILOMETRE PANTEON VTEM GOLD CORRIDOR AT THE LIMON MINE COMPLEX; DRILLING INTERSECTS INCLUDE 111.92 G/T GOLD OVER 4.1 METRES AND 33.60 G/T GOLD OVER 2.6 METRES

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Nevada King Gold (TSX-V: NKG)

Announced assay results from five reverse circulation holes located along an updated Section 22-8N(3), that were recently completed at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend. 

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Nevada King Atlanta Gold Mine

Tuesday, February 6, 2024VANCOUVER, BC, February 6, 2024 – Nevada King Gold Corp. (TSX-V: NKG; OTCQX: NKGFF) (“Nevada King” or the “Company”) is pleased to announce assay results from five reverse circulation (“RC”) holes located along an updated Section 22-8N(3), initially released February 1, 2023 and updated October 30, 2023, that were recently completed at its Atlanta Gold Mine Project located 264km northeast of Las Vegas, Nevada, in the prolific Battle Mountain Trend.

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Highlights:

• Two of today’s holes were angle holes that were sited to follow up on the very high-grade intercept of 6.55 g/t Au and 100.8 g/t Ag over 82.3m, including 26.71 g/t Au over 12.2m encountered in angle hole AT23NS-133F, which represents the third most gold rich intercept so far recorded at Atlanta (released November 14, 2023).
• Today’s two follow up holes succesfully crossed the same high-grade structure, intercepting 6.9 g/t Au and 93.7 g/t Ag over 68.6m including 19.2 g/t Au over 10.7m in AT23NS-174 and 4.9 g/t Au and 75.0 g/t Ag over 77.7m including 19.35 g/t Au over 3.0m in AT23NS-174A.

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Cal Herron, Exploration Manager of Nevada King, stated,

“We chose to further pursue the high-grade intercept in AT23NS-133F largely because we could fan-drill the probable strike line with a series of shallow, steep angle holes from a single drill platform.

 

“So far, we’ve proven that the high-grade mineralization can be tracked along strike, which will enable a resource modeler to tie the high-grade intercepts together into a cohesive body.

 

“Just as important, we also now see what a high-grade feeder zone at Atlanta looks like and how it relates geologically to the surrounding rocks and structures.

 

“The whole point of drill-defining these high-grade structures is to further up-grade the resource, both in scale and confidence.

 

“The AT23NS-133F high-grade zone may be too narrow to appreciably upgrade the surrounding area, unless additional definition drilling can connect the higher grade mineralization (>5 g/t Au) eastward to the West Atlanta Fault.

 

“However, the larger areas northwest and southwest of the pit along lines 22-3N through 22-7N and 22-14N through 22-18N host considerably more potential for increasing overall grade.

 

“In both areas there is good evidence for multiple feeder zones, such as hole AT23WS-44 (11.64 g/t Au over 108.2m including 37.16 g/t Au over 29m).

 

“Going forward, Nevada King is now re-evaluating its drill intercepts within both areas and choosing discreet targets to selectively test.”

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If you need clarification of any information contained in this note, or have any questions, I will be delighted to assist – Please email andrew@city-investors-circle.com

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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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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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Disclosure

At the time of writing the author holds no shares in Nevada King Gold.

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Cornish Metals (AIM/TSX-V: CUSN)

A mineral exploration and development company focused on advancing the South Crofty tin project in Cornwall, to a construction decision, reported results from the first six drill holes of the ongoing 9,000 metre Carn Brea drill programme.

All six drillholes intersected the Wide Formation lode structure.

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Cornish Metals – South Crofty tin mine, Cambourne, Cornwall

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American Creek (TSX.V: AMK)

Announced that project operator and JV partner Tudor Gold has provided an update on the recent identification of a high-grade gold system within the Goldstorm Deposit.

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