Calibre Mining Corp. (TSX: CXB)

Announced operating results for Q4 and year ended December 31, 2024, an update on the Valentine Gold Mine, located in Newfoundland & Labrador, Canada and initial 2025 guidance.

Record consolidated Q4 gold production of 76,269 ounces; Nicaragua 66,578 ounces and Nevada 9,691 ounces.

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Calibre Delivers Record Q4 Gold Production of 76,269 Ounces; 2025 Gold Production Expected to Significantly Increase as Valentine Gold Mine, Canada Remains on Track for First Gold During Q2, 2025

Faraday Copper (TSX: FDY)

Announced the results of five drill holes from its ongoing Phase III drill program at the Copper Creek Project, Arizona.

The highlight was 40.06 Metres at 0.78% Copper Within 109.42 Metres at 0.41% Copper at the Boomerang Breccia.

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January 8, 2025 – Vancouver, British Columbia – Faraday Copper Corp.(TSX: FDY) (OTCQX:CPPKF) (“Faraday” or the “Company“) is pleased to announce the results of five drill holes from its ongoing Phase III drill program at the Copper Creek Project, located in Arizona (“Copper Creek”). Two holes were drilled in the American Eagle area, two in the Rum area and one was a reconnaissance hole east of Area 51. 

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Paul Harbidge, President and CEO, commented

“It is exciting to see that our on-going drill program continues to deliver positive results.

 

“These results confirm additional near-surface mineralization above the existing resource in the American Eagle area, including the identification of high-grade copper at the Boomerang breccia.

 

“Moreover, significant copper was identified in veins outside the breccia domains. All fifteen drill holes, reported in the American Eagle area to date, have intersected copper mineralization above cutoff grade with numerous high-grade zones present.

 

“Additionally, drilling has demonstrated exploration potential well outside of the resource area, including east of Area 51 and at depth in the Rum area.”

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Highlights

• Two drill holes, FCD-24-077 and FCD-24-082, expand the known near-surface mineralization in the American Eagle area. 
• Drill hole FCD-24-082 intersected mineralization in the Prada breccia and the results demonstrate that the Boomerang breccia is mineralized at depth. Significant intercepts include:
  • At Prada, 118.28 metres (“m”) at 0.30% copper and 1.14 grams per tonne (“g/t”) silver from 168.92 m, including 22.54 m at 0.53% copper and 1.39 g/t silver from 213.83 m; and
  • At Boomerang, 109.42 m at 0.41% copper, 0.007% molybdenum, and 1.24 g/t silver from 417.90 m, including 40.06 m at 0.78% copper, 0.018% molybdenum, and 2.28 g/t silver from 459.08 m. 
• North of the American Eagle breccia, drill hole FCD-24-077 intersected 197.20 m at 0.22% copper and 0.77 g/t silver from 25.37 m, including 16.11 m at 0.45% copper and 1.35 g/t silver from 86.00 m. Mineralization in this area is largely vein-hosted, confirming that copper is not restricted to breccias.
• A reconnaissance drill hole east of Area 51 identified silver-rich skarn and vein-hosted mineralization over 58.08 m at 19.10 g/t silver from surface, including 8.90 m at 42.84 g/t silver and 0.34% copper from 47.23 m.

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

Announced the results of the pre-feasibility study prepared in accordance with National Instrument 43-101 for the imminent restart of its 100% owned Madsen Mine project in the Red Lake Gold District of northwestern Ontario, Canada.

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G Mining Ventures (TSX: GMIN)

Announced that it has received an interim environmental permit from Guyana’s Environmental Protection Agency in response to its EIA and EIS  submissions made in November 2024 for the Corporation’s Oko West Gold Project.

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G Mining Ventures Receives Vital Permit for Oko West

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BROSSARD, QC, Jan. 7, 2025 /CNW/ – G Mining Ventures Corp. (“GMIN” or the “Corporation“) (TSX: GMIN) (OTCQX: GMINF) is pleased to announce that it has received an interim environmental permit (the “Interim Environmental Permit” or “IEP“) from Guyana’s Environmental Protection Agency (“EPA“) in response to its Environmental Impact Assessment (“EIA“) and Environmental Impact Statement (“EIS“) submissions (jointly, “ESIA“) made in November 2024 for the Corporation’s Oko West Gold Project (“Oko West” or the “Project“).

The IEP is valid for one year and, together with the “No Objection” letter received from the Guyana Forestry Commission, GMIN has fulfilled the requirements to initiate early works construction activities.

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GMIN intends to advance the following early works activities in H1-2025:  

• Barge Landing facility
• Main access road and internal roads
• Airstrip
• Permanent camp facility
• Water and sewage treatment plants
• Power generation and communication tower

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Louis-Pierre Gignac, President & CEO commented,

“The approval of the Interim Environmental Permit represents an important step in reaching a construction decision for the Oko West Project.

“The receipt of this permit supports a collaborative engagement between  Guyana’s EPA, Forestry Commission and nearby communities in Region 7 ensuring alignment with GMIN’s mine development activities in country. 

 

“We are excited to have the opportunity to commence early works activities ahead of schedule and to grow the local team in preparation for the main construction phase.” 

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The public can access the Oko EIA and EIS submissions in the National Library, University Library, the Regional Democratic Council Region 7 office and on GMIN’s website (Oko West Gold Project page).  

Following a 60-day comment period, EPA review of the submission, disclosure meetings and publication of the final ESIA report, the EPA will reach a decision with respect to the granting of the final environmental permit for Oko West.

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Looking ahead, additional development catalysts at Oko West include:

• Commencement of early works (Q1-2025)
• Feasibility Study publication (Q2-2025)
• Full permit (Q2-2025)
• Formal construction decision (H2-2025)
• Continuation of detailed engineering (2025)
• Greenfield and brownfield exploration (2025)

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To read the full news release, please click HERE

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G2 Goldfields  (TSX:GTWO)

Announced that it has filed the management information circular and related meeting materials  for the AGM and SGM of G2 shareholders to be held on January 28, 2025

The purpose of the Meeting is, among other things, to consider and, if deemed advisable, pass a special resolution approving the previously announced proposed spin-out of G2’s interest in certain non-core assets into a wholly owned subsidiary of G2, G3 Goldfields Inc.

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G2 Goldfields Announces Filing of Management Information Circular and Technical Report for Proposed Spin-Out of Non-Core Assets

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Gold Road Resources (ASX: GOR)

Announced record Gruyere preliminary production results of 91,631 ounces of gold (100% basis) produced during the December 2024 quarter.

Gruyere 2024 Annual Production totalled approximately 287,270 ounces (143,635 ounces attributable), slightly below annual guidance of 290,000 – 305,000 ounces.

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Gold Road Resources  – Gruyere Gold Mine at night

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Financial and Corporate

• Gold Road’s gold sales totalled 47,745 ounces at an average sales price of A$4,093 per ounce. Gold doré and bullion on hand on 31 December 2024 was approximately 1,782 ounces. Gold Road continues to be unhedged and 100% exposed to the spot gold price.

• Cash and equivalents3increased substantially to approximately $173.9 million (September quarter: $109.2 million) with no debt drawn, following a $4.6 million investment in ASX listed securities during the quarter4.
• At 31 December 2024, Gold Road held listed investments with a market value of approximately $740.6 million.

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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

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Mining Review 5th January 2025

Perpetua Resources received the final permit required for their Stribnite gold and antimony mine in the USA.

American Creek announced an amendment to the Plan of Arrangement for the acquisition of the company.

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City Investors Circle Mining Review 5th January 2025

A week bereft of meaningful news, as it usual in between Xmas and New Year.

Perpetua Resources received the final permit required for their Stribnite gold and antimony mine in the USA.

American Creek announced an amendment to the Plan of Arrangement for the acquisition of the company.

I always doubted whether the plan to acquire the company via the issue of a crypto token would work, and perhaps this is the first sign it hasn’t?

Interestingly the announcement includes dropping the penalty for competing bids, a further suggestion that either someone else is interested or the token issue is not going too well I wonder?

Sprott is backing the crypto token so it may happen, but I have serious doubts. It almost looks to me as if they are hoping a competing bid will come in to save face all around.

I am considering selling my holding now.

Watchlist news snippets from last week are below, click on the link to be taken to the full story.

  Perpetua Resources Received the Final Permit for Stribnite

  American Creek Resources Announced Amendment to Plan of Arrangement

  Market Review for December 2024 published

  Happy New Year

  Capricorn Metals Announced CEO Retirement and Succession

  Gold Road Enters a Farm-in Deal With Iceni Gold

  Mining Review 29th December 2024

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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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Perpetua Receives the Final Permit for Stribnite

Highlights

American Creek Resources (TSX.V: AMK)

Has entered into an amendment agreement with Cunningham Mining Ltd. to amend the previously announced arrangement agreement between the Purchaser and the Company dated September 5, 2024. 

Under the Amendment Agreement, the Outside Date has been extended from December 30, 2024 to January 31, 2025.

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Comment

I wonder if thi is a sign that the proposed deal is struggling for support?

I have always thought they would struggle to get this deal away, and it seems I may be right.

The only bright point is “the parties have agreed to remove the termination payment obligation previously required in the event the Company accepted a superior proposal,” which may mean there is a better offer somewhere, or could be a spoof to make us believe that of course!

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American Creek Resources Announces Amendment to Plan of Arrangement with Cunningham Mining

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Cardston, Alberta–(Newsfile Corp. – December 31, 2024) – American Creek Resources Ltd. (TSXV: AMK) (OTCQB: ACKRF) (the “Company” or “American Creek“) announces that it has entered into an amendment agreement (the “Amendment Agreement“) with Cunningham Mining Ltd. (the “Purchaser“) to amend the previously announced arrangement agreement between the Purchaser and the Company dated September 5, 2024 (the “Arrangement Agreement“) 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 (the “Arrangement“) under Division 5 of Part 9 of the Business Corporations Act (British Columbia).

Under the Amendment Agreement, the Outside Date (as defined in the Arrangement Agreement) has been extended from December 30, 2024 to January 31, 2025. In addition, the parties have agreed to remove the termination payment obligation previously required in the event the Company accepted a superior proposal.

A copy of the Amendment Agreement will be available on the Company’s profile on SEDAR+ at www.sedarplus.ca.

For further information on the Arrangement, please see the Company’s news releases dated September 6, 2024, October 2, 2024, October 31, 2024 and December 2, 2024, which are available on American Creek’s profile on SEDAR+ at www.sedarplus.ca.

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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

.

=======

,

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 American Creek

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City Investors Circle Market Review

Market Review for December 2024 has been published.

The highlighted company is Awale Resources.

Ora Banda Mining was the biggest riser of the year at 207%.

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Ora Banda minesite camp, Western Australia

City Investors Circle Market Review December 2024

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Market Review for December 2024 has been published.

The highlighted company is Awale Resources.

Ora Banda Mining was the biggest riser of the year at 207%.

We review the top tier watchlist of producing gold miners and an average gain of 70% over 2024, whilst the gold price rose 27%.

We maintain our stance on producing gold miners as being the place to invest in 2025 given the high gold price driving additional revenue to the bottom line.

To subscribe to our free newsletter and free to attend company presentations, please email andrew@city-investors-circle.com

To view the December 2024 newsletter please click HERE

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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

.

=======

,

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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Happy New Year

City Investors Circle widh all our readers a happy, healthy, and prosprous New Year.

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Happy New Year

City Investors Circle widh all our readers a happy, healthy, and prosprous New Year.

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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

.

=======

,

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.

.

.

Gold Road Resources (ASX: GOR)

Advised of a binding Farm-in Agreement and share placement transaction with Iceni Gold Limited (ASX: ICL) over tenements around and containing the Guyer Gold Trend, within the 14 Mile Well Gold Project located between Leonora and Laverton in Western Australia.

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Iceni Enters Farm-in Deal with Gold Road for a Value up to A$44 million

Iceni Gold Limited (ASX: ICL) (Iceni or the Company) is pleased to advise of a binding Farm-in Agreement and share placement transaction with Gold Road Resources Limited (ASX: GOR) over tenements around and containing the Company’s Guyer Gold Trend, within the 14 Mile Well Gold Project (14MWGP or Project) located between Leonora and Laverton in Western Australia.

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Highlights

• A$35 million exploration farm-in agreement signed with GOR over 154km2 of Iceni’s 100%-owned tenements containing the Guyer Gold Trend within the 14 Mile Well Project in Western Australia, key terms of which include:
➢ Initial A$5 million minimum exploration expenditure, to be managed by Iceni, with the opportunity for GOR to take management upon reaching a key success milestone.
➢ A further A$10 million exploration expenditure within 2 years from meeting the minimum A$5 million exploration expenditure to earn a 50% Joint Venture interest (50 / 50 JV).
➢ Upon Joint Venture formation GOR, can earn an additional 20% to take its Joint Venture interest to 70% by free carrying Iceni to the completion of a Pre-Feasibility Study (PFS) (70 /30 JV).
➢ At the completion of the PFS, GOR can acquire an additional 10% Joint Venture interest (totaling 80%) by paying $20 million to Iceni (80/20 JV).
• In addition to the Farm-in, GOR is to acquire a 9.9% interest in Iceni by subscribing for A$3.05 million in shares at a price of 10 cents per share, representing a 59% premium to the 5-day VWAP prior to execution of the Farm-in Agreement.
• GOR to be issued 19,218,819 options exercisable at $0.15 on or before 31 December 2025.
• GOR to be issued 13,847,016 options exercisable at $0.20 on or before 31 December 2026.
• Should GOR exercise all options, and inclusive of the placement, Iceni will receive a total of $8.7m in cash.
• Exploration activity on the GOR farm-in tenements is expected to commence in January 2025 under Iceni management.
• Iceni retains 100% ownership of the remainder of the highly prospective 14 Mile Well Gold Project, where exploration can now be accelerated on other high priority targets within the portfolio.
• Following completion of the GOR share placement Iceni will have in excess of $3.8 million cash at bank and will be well-funded to continue exploration and development activities on its remaining highly prospective 100%-owned ground.

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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

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Neometals (ASX / AIM: NMT)

Announced their intention to delist from the London AIM market, due to the cost of maintaining a listing , low liquidity, and the “challenging conditions for financing” in London.

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Comment

I am not surprised to read that NMT are delisting from AIM, it makes sense given the low liquidity in the stock in London, and lack of  investor awareness of the company on this side of the world.

Despite presenting in London with us several times, I haven’t read much about the company over here. Where was the follow through from the broker after listing here to raise awareness of the company?

The lack of broker follow through is a major reason for companies becoming unhappy at their AIM listing, and perhaps the reason why 92, (93 now) companies have delisted during 2024.

Neometals is wisely reducing its costs by delisting from a market where they have had virtually no promotional support, and as a result have to pay all the associated costs of the listing with little to no benefits.

AIM is quickly dying, city greed is killing it in my opinion.

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Neometals Announces Intention to Delist From the London AIM Market

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Neometals (ASX / AIM: NMT) announced their intention to delist from the London AIM market, due to the cost of maintaining a listing , low liquidity, and the “challenging conditions for financing” in London.

The company expands on its reasoning for the decision,

• The challenging conditions which have impacted the UK market since its admission to trading on AIM in 2022, which have made it challenging to raise capital in the UK.

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• The low levels of liquidity and trading volumes in Neometals’ shares on AIM, with shares represented by DIs accounting for less than 1% of Neometals’ issued share capital.

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• The cost of maintaining admission to trading on AIM, including professional fees, listing fees payable and incremental legal, auditing and insurance fees.

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• The considerable amount of management time and regulatory burden associated with maintaining the company’s admission to trading on AIM, in addition to the ASX listing.

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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

.

=======

,

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 Neometals.

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G2 Goldfields (TSX: GTWO)

After meeting management twice during 2024, we are initiating coverage of GTWO.

The company has some highly prospective gold licences in a prolific gold belt in Guyana, a tier 1 mining jurisdiction.

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City Investors Circle – Initiating Coverage of G2 Goldfields.

My current preferred criteria for investing in a gold mining company are,

1. A quality management team that have delivered shareholder value before
2. Tier 1 jurisdiction
3. At least 1 million ounces of gold resources
4. Plenty of exploration upside
5. Well funded
6. Generating good ongoing newsflow.

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G2 Goldfields ticks all those boxes for me.

One might argue that Guyana isn’t a tier 1 jurisdiction due to the occasional invasion threats from neighbour Venezuela, but the country has a degree of military protection from the UK and USA, and an actual invasion seems unlikely currently.

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Why do I like G2 Goldfields?

I have met with management twice this year, most recently in Zurich at the SMI conference. I was impressed with their presentation and I felt they are competent and honest, very important traits.

I should declare I am a shareholder of G Mining Venures, who recently purchased the Oko West property.  This abuts G2’s property, where Gmin’s Block4 meets G2’s Ghanie and OMZ Zones.

After this transaction I focused on the area and immediately liked the look of G2’s assets.

They not only have over 2 million ounces of gold in resources, they are well financed, and have multiple highly prosepective high-grade gold targets along a 17km trend.

In all honesty I expect G2 to be acquired in short order, with Anglogold Ashanti, a 15% shareholder, and G Mining Ventures, with projects next door, looking like the likely bidders.

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Management

The G2 Goldfields management team is comprised of professionals who have been involved in the discovery of more than 7 million ounces of gold in Guyana and the financing and development of Guyana’s largest gold mine, the Aurora. 

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Major shareholders.

• Management 20%
• Anglogold Ashanti 15%
• Other institutions hold around 10%
• Retail hold around 55%

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I always like to see management hold a significant stake in a company, and Anglogold’s 15% holding speaks for itself.

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Resources

Oko Main Zone

495,000 Oz gold Inferred

686,000 Oz gold Indicated

Ghanie Zone

604,000 Oz gold Inferred

236,000 Oz gold Indicated.

• A new Mineral Resource Estimate is due in Q1 2025.

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Near Term Cataylsts

Updated MRE – Q1 2025

Strategic Drilling – Connecting the high-grade OMZ with Ghanie, “drilling the gap”

Defining the Ghanie and NW Oko trends, follow up drilling

New drill targets along trend

Splitting out non-core assets in a newco, G3 (Record date 17th December 2024)

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That’s it in a nutshell. I like the company a lot, and feel with their excellent financial position they will generate lots of exciting newsflow in 2025.

They are spinning out non-core assets into a newco G3, focusing on their core assets, and giving those spun out assets a value they do not have inside the current company.

I wonder if this is being done in preperation for G2 being acquired?  It wouldn’t surprise me.

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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 is intending investing in G2 Goldfields 

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To read our full terms and conditions, please click HERE

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Merry Christmas from City Investors Circle – London

We would like to wish all our readers a relaxing and peaceful Christmas, and a healthy, prosperous, and Happy New Year for 2025.

It’s been an interesting year, with opportunities for investors in producing gold miners and selected exploration companies to increase portfolio value, with gold breaking records to an all time (nominal) high price.

We should remain positive moving into 2025.

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Merry Christmas from City Investors Circle – London

We would like to wish all our readers a relaxing and peaceful Christmas, and a healthy, prosperous, and Happy New Year for 2025.

2024 was yet another challenging year, with market disinterest and political events worldwide combining to sell most junior mining stocks down to well oversold levels, and that has tested our nerve and resolve, but we are still here.

We should remain positive moving into 2025 as there is a growing feeling that things are starting to turn upwards for the oversold junior mining sector.

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I would like to take the opportunity to thank all those that have read this website, our newsletters, and attended our events during the year, we appreciate your loyal support.

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I would also like to thank those that have have worked with me, Bheng, Jacque, and Karla for their hard work in ensuring our events went well, and Bestow for her efficient work and admininstration of the website.

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City Investors Circle

It’s the end of the year, and the time we review companies on our watchlists for performance and whether they are achieving the objectives as previously stated.

One measure is obviously share price performance, but there’s also the number and frequency of news releases, and any changes in the safety of the Jurisdiction. We have deleted a number of companies.

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Going up or coming down?

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City Investors Circle Watchlist Review 2024 – Company Deletions

City Investors Circle

It’s the end of the year, and the time we review companies on our watchlists for performance, and whether they are achieving the objectives as previously stated.

One measure is obviously share price performance, but there’s also the number, nature, and frequency of news releases.

Another decising factor is if there are any changes in the safety of a Jurisdiction.  Mali and Burkina Faso are good examples that have changed drastically for the worse during 2024. I personally would not invest in any company with a project in either of those countries now, likewise Bolivia, where the politics are starting to look very murky, as former president Evo Morales has reared his head again.

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In the past year I have ruled out the following jurisdictions;

Bolivia, (politics), Burkina Faso (politics), Chile (unpredictable politics), Colombia (politics, new anti-mining policy), Mali (politics, demanding massive sums from companies producing in country, arresting employees), Panama (politics, anti-mining), and South Africa (Uncertain politics, power outages).

After reviewing their performance during 2024, we have deleted a number of companies from our watchlists, as follows;

Tier 1

Aris Mining (TSX: ARIS)

Colombia recently released a new mining law making it possible to stop a mine if it was mining in a national park or an area of outstanding beauty, even though that mine has a production permit.

That was enough for me, better to sell now before some politician becomes involved and wants to stop the mine. This has now happened! with Aris’ new Soto North Project, where they are now trying to satisfy the government who have slapped a “Temporary Reserve Area” restriction on the property.

Interestingly I sold straight away and virtually caught the top, around C$6.30. The shares are now trading at C$5.35 and in freefall.

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Ascot Rescources (TSX: AOT)

Ascot simply disappointed once too often, and I have lost confidence in the company. Their first attempt at constructing the mine was halted when they claimed several key components were lost off a ship in a storm and replacements had to be made. This caused a loss of time, and they were forced by Sprott to finance.

The Premier Mine was then opened, and has now been placed on care and maintenance a few short months later due to a lack of feed. Another financing has been done and they are looking for more feed, but the share price has collapsed, and I sold out.

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Calidus Resources (ASX: CAI) now delisted

Put into admininstration by management after failing to turn a profit despite the high gold price. Now purchased by Mark Creasy, an Australian mining magnate.

My first ever total loss on a share investment.

Tier 2

O3 Mining (TSX.V: Olll)

Subject of an agreed takeover by Agnico Eagle in the New Year, subject to TSX approval, but both boards agree, so it looks a done deal, and makes sense given the proximity of Marben to Agnico’s Canadian Malartic Mine.

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Latrobe Magnesium (ASX: LMG)

Abysmal share price performance, down 58.6% in the last year.

Pilot plant still under construction, moving much slower than anticipated and behind schedule.

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El Oro Resources (TSX: ELO)

Impressive large scale zinc, silver and lead resources, still expanding in all directions. located in central Bolivia.

The politics is changing for the worse here, former President Evo Morales in involved again, so I have sold my shares and I am deleting from the watchlist.

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Tier 3

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Japan Gold (TSX.V: JPG)

On paper this looks a great story, first foreign mover in Japan in recent times, 30 projects, partnered on some with Barrick Gold, on others with Newmont, what partners to have! They also have some unique projects for their own exploration.

So why are we dropping them?

Quite a boring stock, the share price has moved sideways for the last six months, despite the high gold price.

News releases are not prolific, and frankly I prefer companies with more news. Given they are involved in 30 projects accross Japan, I imagined a greater frequency of news releases.

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Westhaven (TSX.V: WHN)

A decent enough gold exploration project situated between Vancouver and Kelowna, divided by the highway.

Year to date share performance has been atrocious, down around 54%.

It’s a typical junior explorer, release a few drill results and then go for a placing, and so on and so forth. This is a model that looks broken in my opinion, and the reason why the share price has fallen so far this year.

Even Eira Thomas as CEO could not help the share price.

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So that wraps up the list of company deletions from our watchlists for 2024.

I have a couple of companies that I have met recently to review, and then I will be publishing a list of the new additions to our watchlists on the 27th December.

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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.

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Disclosure

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

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Ora banda Mining (ASX: OBD)

The company is the winner of the inaugural Mining.com.au Masters of Mining Emerging Explorer Award.

The award recognises an exploration company the market is beginning to notice due to a series of successes and positive outcomes, or whose market value has increased significantly over the course of the year, outperforming their peers.

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Ora Banda minesite, Western Australia

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

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Ora banda Mining (ASX: OBD)

The company is the winner of the inaugural Mining.com.au Masters of Mining Emerging Explorer Award.

The award recognises an exploration company the market is beginning to notice due to a series of successes and positive outcomes, or whose market value has increased significantly over the course of the year, outperforming their peers.

The full article regarding the award and the thesis for it can be read HERE

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To read the full news release, please click HERE

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Perpetua Resources  (TSX: PPTA)

Announced its wholly owned subsidiary, Perpetua Resources Idaho, Inc., has agreed to conduct metallurgical testing of antimony concentrate samples from Perpetua’s Stibnite Gold Project with Montana-based United States Antimony Corporation (NYSE: UAMY).

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Ora Banda Mining (ASX: OBM)

Provided an update on its Sand King Underground mine which forms part of the Davyhurst Gold Project. 

Sand King has achieved its first major milestone, intersecting multiple ore lodes in the first crosscut on the 315 Level. The mine remains on track to deliver first stoping ore in the March-25 Quarter.

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Ora Banda Mining – Sand King Decline

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Ora Banda Announce First Ore Interesected at Sand King

Highlights

• Sand King Underground mine development tracking to plan with first ore intersected just four months after portal establishment
• Initial grade control drilling confirms multiple mineralised lodes per level, including highgrade lodes in addition to bulk tonnage opportunities
• Surface Diamond Drilling extends and enhances 090 lodes in northern Sand King

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Ora Banda Mining Limited (ASX: OBM) (“Ora Banda”, “Company”) is pleased to provide an update on its Sand King Underground mine which forms part of the Davyhurst Gold Project and together with the Riverina Underground are the centrepiece of the Company’s DRIVE TO 150 Project with an annual production outlook of 140,000oz to 160,000oz in FY26.

Sand King has achieved its first major milestone, intersecting multiple ore lodes in the first crosscut on the 315 Level. This is in line with internal planning and the mine remains on track to deliver first stoping ore in the March-25 Quarter.

Steady state production of ~60kozpa is expected to commence in the June-25 Quarter.

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Since the establishment of the Sand King portal in late August this year, mine development has advanced on schedule and in good ground conditions with 427 decline metres and a total of 835 development metres achieved to date.

Underground diamond drilling for grade control is also underway at the mine with the rig completing 5,477 metres to date of the planned 45,400 metre program.

This initial program has confirmed multiple discrete high grade lodes and additional bulk tonnage opportunities at Sand King.

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Significant grade control results to date include:

o 6.0m @ 9.5 g/t Inc. 3.5m @ 13.7 g/t o 1.3m @ 17.6 g/t Inc. 1.0m @ 21.9 g/t
o 2

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The Company also recently conducted a small surface exploration drilling program at Sand King North. This 6-hole program targeted high-grade East-West ore structures and successfully infilled and extended the known lodes along strike.

Intercepts included:

o 8.0m @ 5.4 g/t Inc. 2.7m @ 13.6 g/t o 2.4m @ 11.5 g/t Inc. 0.4m @ 48.0 g/t
o 1.0m @ 31.3 g/t Inc. 0.5m @ 61.0 g/t o 2.2m @ 10.9 g/t Inc. 1.9m @ 11.9 g/t
o 13.6m @ 2.3 g/t Inc. 0.4m @ 13.4 g/t o 8.3m @ 2.9 g/t Inc. 0.5m @ 10.7 g/t

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Ora Banda’s Managing Director, Luke Creagh commented on the progress at Sand King

“Reaching first ore at the Sand King Underground mine is exciting, especially considering that this milestone has been achieved less than 4 months after establishing the portal, and 14 months after the first drill hole targeting underground was completed.

“The grade control and surface drilling has confirmed, enhanced and extended known mineralisation and we consider this to be at the early stages of unlocking the full potential of the Sand King mineralised system.

“As the ounce production from Sand King increases month-on-month, we are set up for a strong second half of the financial year. The combination of Riverina and Sand King high-grade ore delivers a step change to our production profile and cashflows, with a production outlook of 140,000oz to 160,000oz in FY26.”

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To read the full news release, please click HERE

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Galiano Gold ( NYSE / TSX: GAU)

Announced that it has terminated its gold purchase and sale agreement with Red Kite Opportunities Master Fund Limited for total cash consideration of US$13 million.

The Company had been required to sell 100% of gold production from the Asanko Gold Mine, up to a maximum of 2.2 million ounces, at a spot price selected by Red Kite.

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