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.

.

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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

.

=======

,

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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Westgold Resources (ASX/ TSX: WGX)

Advised it has executed a gold ore purchase agreement between its subsidiary, Big Bell Gold Operations Pty Ltd, and Zeus Mining Pty Ltd, an entity owned by New Murchison Gold Limited (ASX: NMG).

Under the terms of the OPA, Westgold has agreed to purchase between 30,000 and 50,000 tonnes of gold ore per month from NMG’s planned open pit operation at Crown Prince.

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Westgold Announce Crown Prince Ore to Increase Production at Meekatharra

Perth, Western Australia, 12 December 2024: Westgold Resources Limited (ASX/ TSX: WGX, OTCQX: WGXRF – Westgold or the Company) is pleased to advise it has executed a gold ore purchase agreement (OPA or Agreement) between its subsidiary, Big Bell Gold Operations Pty Ltd, and Zeus Mining Pty Ltd, an entity owned by New Murchison Gold Limited (ASX: NMG).

The OPA remains subject to NMG shareholder approval as Westgold owns 18.7% of NMG and is therefore deemed a related party under the ASX Listing Rules. NMG will seek the requisite approval from its shareholders at a general meeting which will be called in January/February 2025.

Crown Prince, which is located 33kms by road from Westgold’s 1.6-1.8Mtpa Bluebird processing plant, has a current JORC (2012) Indicated and Inferred Mineral Resource of 2.21Mt @ 3.9g/t Au for 279Koz Au (refer NMG ASX Release of 28 November 2024 for details).

Under the terms of the OPA, Westgold has agreed to purchase between 30,000 and 50,000 tonnes of gold ore per month from NMG’s planned open pit operation at Crown Prince.

Subject to final regulatory permitting, NMG are targeting the commencement of open pit mining, and hence the OPA, in mid-2025. It is envisaged that most of the Crown Prince ore will be processed in the first two years of the Agreement (being FY26 and FY27), with potential ongoing terms to be agreed on a rolling, quarter-by-quarter basis following the two-year initial term.

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Westgold Managing Director and CEO Wayne Bramwell commented:

“Westgold is delighted to have achieved a mutually beneficial outcome for both the New Murchison Gold and Westgold shareholders.

 

“This type of commercial arrangement is capital efficient for both companies as it leverages the existing processing infrastructure Westgold has at Meekatharra.

“The introduction of softer oxide ore from Crown Prince in FY26 effectively increases throughput at the Westgold’s Bluebird plant – growing production and reducing our cost per ounce.

 

“At the same time, NMG realise value for its shareholders by unlocking a pathway to production for its Crown Prince deposit without the capital impost and execution risk of building a processing plant.

 

“As such this is a win-win for all shareholders and Westgold looks forward to working with New Murchison Gold in the development of the Crown Prince deposit.”

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To read the full news release please click HERE

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

The live gold price can be found HERE

We present interesting and exciting junior mining companies listed on the ASX and TSX stock exchanges to a group of city professionals, and private investors, all of whom are active investors with a mandate to invest in junior mining companies.

Our audience is selected and invited individually to ensure interest and relevance for the presenting company.

Meetings are non deal, small group, highly focused and engaged, with a lively Q and A to follow the main presentation.

We create awareness, and maintain interest in presenting companies by disseminating their future news to our entire investor group via email, social media, and our Monthly Review newsletter.

If you wish to present to our select group of active mining investors, please email andrew@city-investors-circle.com

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

Companies featured here have either presented to the Circle in London, or have been selected because they are considered to have interesting projects, in good jurisdictions, run by an experienced management team.

All information used in the preparation of this communication has been compiled from publicly available sources that we believe to be accurate and reliable, however, we cannot, and do not, guarantee the accuracy or completeness of this.

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

.

Disclosure

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

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Pacgold (ASX: PGO)

Announced first assay results for the regional Aircore drill campaign at the Alice River Gold Project, 300km northwest of Cairns, North Queensland.

Aircore assays have delineated an outstandingly large and coherent gold-arsenic and antimony (Au-As and Sb) anomaly directly within the known geophysical corridor and extending for 1.4km of strike.

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Pacgold Alice River drilling 11th August 2022

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PacGold find An extensive geochemical anomaly delineated at “The Shadows”

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Aircore Drilling Across Northern Target area

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Queensland focused gold explorer, Pacgold Limited (ASX: PGO) (‘Pacgold’ or ‘the Company’) is pleased to announce first assay results for the regional Aircore drill campaign at the Company’s 100% owned Alice River Gold Project (‘the Project’), 300km northwest of Cairns, North Queensland.

A total of 781 Aircore samples have now been reported from the first submission, Aircore assays have delineated an outstandingly large and coherent gold-arsenic and antimony (Au-As and Sb) anomaly directly within the known geophysical corridor and extending for 1.4km of strike.

Of significance is the discovery of a new interpreted parallel zone “Apache” 300m to the west of the Shadows main zone and on the western margin of the Alice River Fault Zone, this represents a repetition of the Shadows structure and new target zone for follow up RC drilling next season.

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HIGHLIGHTS

• First batch (781 samples of 4,273 submitted) of Aircore assay results delineate
coherent high-grade Au-As anomaly 1.4km in strike and up to 200m in width, grades
up to 1.5 g/t Au, and open along strike at The Shadows Prospect
• New geochemicalzone “Apache” not previously identified 300m west of The Shadows
associated with a Dolerite intrusive and represents a new mineralised corridor parallel
to “The Shadows” mineralised zone
• RC drilling campaign also now complete with finalsamples to be dispatched this week

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Pacgold’s Managing Director, Matthew Boyes, commented:

“The scale of what we are only just starting to see here at Alice River is compelling, as shown by these first Aircore assays received for the “Shadows” area.

 

“Also of significance is the discovery of a new zone “Apache”, sitting some 300m metres to the west of the known mineralised corridor and at the contact with a Dolerite intrusive and the main granite body generating new targets for follow up drilling.

 

“We have only received approximately 18% of all the samples dispatched and already delineated an additional large scale target zone in excess of 1.4km in strike and open at both ends, with some very highgrade results considering this is purely shallow Aircore and hasn’t drilled any primary unleached mineralised material.

 

“This bodes well for an extensive RC drilling program planned to be undertaken in
2025.”

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Capricorn Metals (ASX: CMM)

Ongoing drilling at the Mt Gibson Gold Project (MGGP) has delivered a significant increase of  758,000 ounces (41%) in the Ore Reserve Estimate (ORE).

Update of the April 2023 Pre-feasibility Study confirms MGGP as a transformative, fully funded second mine for Capricorn.

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Capricorn Metals Karlawinda Mine

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MT GIBSON RESERVE GROWS TO 2.59 MILLION OUNCES INCREASING CAPRICORN RESERVES TO 4.0 Moz

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Capricorn Metals (ASX: CMM) Ongoing drilling at the Mt Gibson Gold Project (MGGP) has delivered a significant increase of  758,000 ounces (41%) in the Ore Reserve Estimate (ORE).

Update of the April 2023 Pre-feasibility Study (PFS) confirms MGGP as a transformative, fully funded second mine for Capricorn.

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HIGHLIGHTS

Updated ORE:

• 89.8 million tonnes at 0.9g/t Au for 2.59 million ounces of gold, representing an increase of 758,000 ounces (41%) from the ORE announced in April 2024.
o ORE estimated using a gold price of A$2,200 per ounce.
• Remains shallow with an average depth of 180 metres, a maximum depth of 310 metres and operating strip ratio (w:o) of 4.8.
• Generates annual production of 150,000 ounces for the first 15 years of production, with targeted all in sustaining costs (AISC) expected to average A$1,650 – A$1,7501
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• The updated MGGP ORE increases Capricorn’s group gold reserves to over 4.0 million ounces.
• Updated Mineral Resources Estimate of 150.4 million tonnes at 0.8g/t for 3.99 million ounces Updates to April 2023 PFS and financial model (at AISC midpoint and A$3,300 gold price):
• Production based on ORE only.
• 17-year mine life, including a final two years of low-grade stockpiled ore processing.
• Rapid payback period (pre-tax) of 2.3 years and life-of-mine forecast:
o A$7.76 billion Revenue
o A$3.2 billion free cash flow (pre-tax)
o Post capex, pre-tax NPV5 $1,948 million
• April 2023 development cost estimate of $260 million for plant remains appropriate along with preproduction mining capital estimate of $83 million (April 2023: $79m) reflecting current market costs from the ongoing competitive tender process for mining services.

Capricorn represents a unique growth opportunity in the Australian mid-tier gold sector, featuring two high-quality, high-margin mines in Western Australia with over 4 million ounces in reserves, projected combined annual production of 300,000 ounces, and mine lives exceeding 10 years.

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Capricorn Executive Chairman Mark Clark commented:

“The increase in the Mt Gibson gold reserve to 2.59 million ounces confirms the project as a transformative and fully funded second mine for Capricorn.

 

“It is clearly one of the most compelling development projects in the Australian gold industry.

 

“We are excited that there is still significant further growth potential for the resource and reserve as drilling continues at pace at modest depths and we see an emerging underground opportunity.

 

“We believe Mt Gibson will become a high-quality operation for Capricorn and to this end we are doing the work to be in the best possible position to expedite development of the project on completion of the permitting process.”

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To read the full news release please click HERE

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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

.

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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 Capricorn Metals

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To read our full terms and conditions, please click HERE

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West Red Lake Gold Mines (TSXV: WRLG)

Provided an update on the Company’s interpretation and vision for the Fork Deposit at its 100% owned Madsen Property located in the Red Lake Gold District of Northwestern Ontario, Canada.  

The Fork deposit currently contains an Indicated mineral resource of 20,900 ounces  grading 5.3 grams per tonne gold, with an additional Inferred resource of 49,500.

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Mining Review 15th December 2024

The big news this week was that one of our companies, O3 Mining, has been acquired by Agnico Eagle in a friendly takeover.

Capricorn Metals, Orla Mining, and pacgold all released good exploration results.

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City Investors Circle Mining Review 15th December 2024

Gold had a positive week, due to the US dollar falling slightly. Most industrial metals fell due to Chinese economic concerns.

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The big news this week was that one of our companies, O3 Mining, has been acquired by Agnico Eagle in a friendly takeover.

This was hardly a surprise due to the proximity of O3’s Marben project to the giant Canadian Malartic mine owned by Agnico Eagle.

Capricorn Metals, Orla Mining, and Pacgold all released good exploration results.

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All the news from our watchlist companies can be found below, click the link to read the full story.

  Orla Mining Expanded High-Grade Mineralization 800 Metres

  O3 Mining is to be Acquired By Agnico Eagle in Friendly Transaction

  Capricorn Metals Significantly Expanded the Karlawinda Project Tenure

  Pacgold Reported Positive Progress at Alice River

  Perpetua Resources and Sunshine Silver Announced an Agreement

  UEC Acquired Rio Tinto’s Sweetwater Plant and Wyoming Uranium Assets

  Mining Review 8th December 2024