Victoria Gold looks Doomed to Fail

Victoria Gold (TSX: VGCX)

On the 24th June 2024 Victoria Gold announced a landslide at the heap leach pad at their Eagle Gold Mine in the Yukon territory of Canada.

What they really meant to say was that two million tons of the heap leach pad had cascaded down the mountain, and there was a concern about cyanide contamination of the local water supply.

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The yellow shaded area shows where the incident occurred

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Victoria Gold looks Set to Disappear as a Company

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Victoria Gold (TSX: VGCX) On the 24th June 2024 Victoria Gold announced a landslide at the heap leach pad at their Eagle Gold Mine in the Yukon territory of Canada.

What they really meant to say was that two million tons of the heap leach pad had cascaded down the mountain, and there was a concern about cyanide contamination of the local water supply.

As soon as the extent of the disaster became apparent, I predicted this would cause Victoria Gold to fail as a company and go bankrupt. I still believe this will happen.

As more facts have become known, the good news is they appear to have contained the cyanide and prevented it from entering the local water supply. That is about the only good news, and there’s plenty of bad.

Current position

Mining has been suspended indefinitely, so no income, only expenses.
Victoria Gold has $250 million of debt, and the lenders have called a default.
The First Nations are enraged.
The Yukon government are very unhappy.
Various whistleblowers have come forward publicly. (See links below).
The damage to the leach pad is still being examined, no remidiation work has been started, and it’s very doubtful the mine will operate again, in my opinion.
The First Nation does not want new mineral claims, licenses, exploration, development authorizations, or ongoing mining activities on their traditional territory following the heap leach failure.
The Yukon government are considering taking an active role, as the company struggles to contain and treat the large amount of contaminated water.
It has been suggested the Yukon governement doubt the company has the resources nor the ability to rectify the damage.

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The company has admitted it may never mine again, and they lack the resources to remediate the damage.

I predict Victoria Gold will cease trading soon and go out of business in short order.

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An article from the Northern Miner newspaper from a whistleblower who was working on the leach pad at the time it collapsed, and who accuses the company of “unsafe practices“ can be found here.

An article from Mining.com alleging lax security arrangements on site can be found here.

An update from the Yukon Governement issued on the 26th July can be found here.

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Comment

I cannot believe that people are still trading this company, and that it’s being allowed to continue trading when the disaster looks so bad, and the future so grim.

I can understand anyone selling the stock for whatever they can get in a damage limitaton excercise, but who on earth is buying this stock given the current position, and why?

Anyone still holing is either very foolish or very brave, with my opinion being the former.

This case highlights the dangers of investing in mining stocks perfectly, the share price has fallen from C$8.50 to around 60 cents in very short order, and a massive amount of shareholder value tumbled down the mountain on June 24th.

Commiserations to any holders reading this.

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As an aside, one other company exploring in the Yukon, yet to go into production, Banyan Gold, (which is run by the partner of the Victoria Gold CEO), may have difficulties in moving forwards now as these two properties are relatively close to each other, and Victoria was seen as a potential buyout partner at some point.

After this disaster, getting First Nation approval for another mine in the Yukon will be challenging for some time in my opinion. Time heals of course, and assurances can be given, but It’s hard to see them approving any new mines for quite some after this.

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City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

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

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

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

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

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Disclosure

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

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To read our full terms and conditions, please click HERE

City Investors Circle Watchlist Deletions

City Investors Circle Watchlist deletions

As the year ends it’s time to review companies listed on our watchlists, remove those companies that we longer feel so strongly in favour of, and adding in a few that have taken our fancy recently.

Out are going Banyan Gold, Fosterville South, Kootenay Silver, Los Cerros, Pure Gold Mining, Radisson Mining, and Tinka Resources.

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Watchlist deletions

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City Investors Circle Watchlist deletions

As the year ends it’s time to review companies listed on our watchlists, remove those companies that we longer feel so strongly in favour of, and adding in a few that have taken our fancy recently.

Out are going Banyan Gold, Fosterville South, Kootenay Silver, Los Cerros, Pure Gold Mining, Radisson Mining, and Tinka Resources.

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Why are these companies being removed?

Banyan Gold

After a couple of Covid Zoom meetings with CEO Tara Christie, which went well, I liked the story, and she’s a nice lady, so I was pleased when I saw she was attending the 2022 PDAC. I went to see her on the booth only to be told by a young lady that Tara wasn’t going to spend any time on the booth, as she was busy with meetings.

I explained I was a shareholder from the UK, and she informed me she was in a Yukon Mining meeting, and I could go and meet her there. She had no time, but said we could talk as we walked to her next meeting, which was disappointing, but better than nothing. No sooner started than we were interrupted by someone and she excused herself and had to go.

For me this was not acceptable, she did write and apologise afterwards, but I take the trouble to travel to Canada to meet the CEO’s of companies I’m invested in, plus others I might invest in, and to not spend any time on the booth nor make a few minutes for a shareholder from such a distance was poor form in my opinion.

As a result I sold my stock upon my return, when I had originally intended to increase my holding, as it looks a good story with plenty of potential.

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Fosterville South

After an initial rush of drill results and the spin off, which drove the share price to around C$5, there is little news and the price has slumped as a result.

They managed to get a discounted financing away at the height of the promotion, and as soon as they did that I sold some and banked profits. Newsflow has all but dried up now.

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Kootenay Silver

It’s now around 10 years since Kootenay Silver presented to us in London, and they show no signs of coming back.

Looking at their news releases, they aren’t creating shareholder value, it looks more like a lifestyle company now, no disrespect to management intended, they are good guys, but there’s no excitement here in my opinion.

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Los Cerros

They have some very interesting looking copper gold projects in central Colombia, but the newly elected president is anti mining, and Los Cerros are refocusing on Papua New Guinea, which isn’t a jurisdiction I like, so I sold my stock.

They also rely on financings to maintain their exploration, not an easy task in the current market, and dilution could be very painful.

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Radisson Mining

Another company just drilling and raising, drilling and raising, the old Canadian build it and they will buy it at some point idea.

Old management have gone, and the new guys aren’t changing this tired course, so as it too is starting to resemble a lifestyle company, we’re removing it from our watchlist.

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Tinka Resources

Yet another company with a promising project, just drilling and raising, and so on and so forth.

Another negative is that it’s in Peru, where opposition to mining is growing, not that Tinka are close to mining anything though!

Buenaventura have built a stake, and may take Tinka out at some point, which would probably be kind to TK’s shareholders.

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Pure Gold Mining

We had Pure Gold down as a possible recovery stock, but management simply couldn’t manage the mine plan, neither could their replacements brought in to rescue the project with a new plan, and it went bust.

Pure Gold was dual listed on AIM and had a large UK investor base.

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

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City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

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,

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

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

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

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

.

Disclosure

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

.

To read our full terms and conditions, please click HERE

Mining Review Sunday Update 3rd July 2022

Mining Review Sunday Update 3rd July 2022

Companies commented on in this truly awful week for mining stocks, and commodities, were; Banyan Gold, Cabral Gold, Cyprium Metals, Minera Alamos, and Newcore Gold.

The Canadian mining community mourned the loss of mining legend and Chairman of Tudor Gold, Walter Storm.

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Mining Review Sunday Update 3rd July 2022

Companies commented on in this truly awful week for mining stocks, and commodities, were; Banyan Gold, Cabral Gold, Cyprium Metals, Minera Alamos, O3 Mining, and Newcore Gold.

With the exception of O3 Mining, all the other companies mentioned announced discounted financings this week.

The most disappointing for me personally was Cyprium, who announced their 33% or so discounted financing the day after I made an initial investment in the stock. Fortunately it was a very small investment, but even so it’s annoying. They were careful to announce their offtake agreement first.

Banyan’s financing was mostly flow through, which is great for Canadian residents as they obtain tax benefits at the expense of non Canadian holders who are diluted without those benefits.

I personally prefer to invest in Canadian miners that have projects in other countries to avoid being diluted by such placings, as flow through is for Canadian based projects only. Banyan are at least financed to the end of the drill season where they hope to raise their resources to 5 million ounces of gold.

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The Canadian mining community mourned the loss of mining legend and Chairman of Tudor Gold, Walter Storm.

Storm was an award-winning Professional Geologist with over 40 years of industry experience throughout the Americas and Russia. Mr. Storm spent 19 years with Silver Standard Mining Inc. and managed several advanced exploration programs including Manantial Espejo in Argentina, San Luis and Berenguela in Peru, and Snowfields-Brucejack in the Golden Triangle.

Walter. was a Canadian mining legend and will be sorely missed.

Companies on out watchlist that made news last week

O3 Mining Expanded the Mineralized Corridor At Camflo

City Investors Circle Market Review for June 2022 Published

Cyprium Metals announced a deeply discounted placement

Cabral Gold Closing Circa C$3,000,000 Financing

Minera Alamos Announced C$4.37m Placement

Newcore Gold – Closed a C$5 Million Bought Deal Financing

Cyprium Metals Secured a AUD50M Offtake Facility

Banyan Gold Financing Raises up to $16.5 Million

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Market Data (US$)

Weekly price movements

Precious Metals

Gold	1808	-1.04%
Silver	19.86	-6.05%
Palladium	1960	– 8.77%
Platinum	890	-1.98%
Rhodium	12550	-3.46%

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Base metals

Copper	3.74	-3.86%
Nickel	10.48	-4.20%
Zinc	1.47	-11.98%
Tin	12.27	+0.74%

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Energy metals

Cobalt	31.64	-2.71%
Manganese	3.88	0.00%
Lithium	67940	-0.57%
Uranium	50.85	+5.94%

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Bulk commodities

Iron Ore	115.5	-1.28%
Coking Coal	308	-20.00%
Thermal coal	367	-7.09%
Magnesium	3909	-2.23%
Lumber	657	+8.06%

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Precious metal ETF’s

GDX	28.16	-5.06%
GDXJ	33.05	-7.11%
Sil	26.51	-5.89%
SILJ	9.72	-6.09%
GOEX (PCX)	23.08	-6.86%
GLD	168.32	-1.04%
COPX	29.79	-7.37%

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Miscellaneous

Au / Ag Ratio	88.54	+2.46%
10 yr Treasury bond (TNX)	2.894	-7.72%
US index (DXY)	105.12	+0.96%
HUI	227.08	-4.60%

.Mining Review Sunday Update is complete.

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

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City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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.

.

To read our full terms and conditions, please click HERE

Market Review for June 2022 Published

City Investors Circle Market Review June 2022

Features comments on why the steep price drop in copper could indicate a recession is imminent.

Companies commented on include Orla Mining, Gold Road Resources, Banyan Gold, Cabral Gold, Cyprium Metals, and Newcore Gold.

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

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City Investors Circle Market Review June 2022

City Investors Circle Market Review for June 2022 features comments on why the steep price drop in copper could indicate a recession is imminent. Copper is seen as a leading economic indicator, so when the price is falling hard, as it is now, economists start predicting a recession in the offing.

Metal prices are falling across the board as growth predictions are trimmed and talk of an imminent recession harden.

Companies commented on include Orla Mining, Gold Road Resources, Banyan Gold, Cabral Gold, Cyprium Metals, and Newcore Gold.

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To read the City Investors Circle Market Review for June 2022, please click HERE

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To subscribe to receive the monthly Market Review, and invitations to our free events, please email andrew@city-investors-circle.com

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

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City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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 Banyan Gold, Cabral Gold, Cyprium Metals, Orla Mining, Gold Road, and Newcore Gold, all bought in the market at the prevailing price on the days of purchase.

.

To read our full terms and conditions, please click HERE

Banyan Gold Financing Raises up to $16.5 Million

Banyan Gold Corp.(TSX.V: BYN)

Announced a fully subscribed non-brokered private placement of up to $16,497,799.80 in gross proceeds.

The Private Placement will consist of 16,210,500 Charity Flow Through Shares priced at $0.63, 4,974,000 Flow Through Shares priced at $0.55, and 7,887,744 Shares priced at $0.45. […]

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Banyan Gold	TSX.V: BYN
Stage	Exploration
Metal	Gold
Market cap	C$106 m @ 46.5c
Location	Yukon, Canada

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Banyan Gold Aurmac drill intercept

BANYAN GOLD ANNOUNCES FULLY SUBSCRIBED NON-BROKERED PRIVATE PLACEMENT OF UP TO $16.5 MILLION

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VANCOUVER, B.C., June 8, 2022, Banyan Gold Corp. (the “Company” or “Banyan“) (TSX.V: BYN) (OTCQB: BYAGF) is pleased to announce a fully subscribed non-brokered private placement (the “Private Placement”) of up to $16,497,799.80 in gross proceeds.

The Private Placement will consist of 16,210,500 Charity Flow Through Shares priced at $0.63 per share for gross proceeds of $10,212,615.00, 4,974,000 Flow Through Shares priced at $0.55 per share for gross proceeds of $2,735,700.00; and 7,887,744 Shares priced at $0.45 for gross proceeds of $ 3,549,484.80.

The Company intends to use the net proceeds from the Private Placement to advance its mineral exploration and development projects and for general corporate purposes. The 2022-23 Exploration Programs at the AurMac Property are intended to include in excess of 60,000 metres (“m”) of diamond drilling, geotechnical drilling, metallurgical test work, and environmental baseline data collection towards a resource update and commencement of a Preliminary Economic Assessment (“PEA”) Study for 2023.

The flow through gross proceeds component received from the sale to subscribers of the Charity Flow Through Shares and Flow Through Shares will be used to incur “Canadian exploration expenses” as defined in subsection 66.1(6) of the Income Tax Act (Canada) (the “Tax Act”) on the Company’s properties in the Yukon Territory, and renounced to such subscribers effective not later than December 31, 2022. Such Canadian exploration expenses will also qualify as “flow-through mining expenditures” as defined in subsection 127(9) of the Tax Act.

In connection with the Private Placement, the Company may pay a finder’s fee in cash on a portion of the funds to be raised, subject to all necessary regulatory approvals.

The Company intends to close the Private Placement within 30 days, subject to receipt of all necessary regulatory approvals, including the approval of the TSX Venture Exchange (the “TSX-V”). All securities issued pursuant to the Private Placement will be subject to, among other things, a hold period of four months and one day in accordance with applicable securities laws.

Certain insiders of the Company are expected to participate in the Private Placement. Such participation represents a related party transaction under Multilateral Instrument 61-101 – Protection of Minority Security Holders in Special Transactions (“MI 61-101”), but the transaction is exempt from the formal valuation and minority shareholder approval requirements of MI 61-101 as neither the fair market value of the subject matter of the transaction, nor the consideration paid for, the transaction, insofar as it involves interested parties, exceed 25% of the Company’s market capitalization.

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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

=======

.

City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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.

.

To read our full terms and conditions, please click HERE

PDAC 2022 – Day 2

PDAC 2022 – Day 2 was much quieter

After the pandomonium of registration and police holding people outseide for hours on day 1, PDAC 2022 day 2 was much quieter.

The aisles were noticably easier to navigate and of those people walking around, there seemed to be very few investors, with some booth holders even saying to me they don’t go to PDAC to meet investors!

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PDAC 2022

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PDAC 2022 – Day 2 was much quieter than Day 1

After the pandomonium of registration and police holding people outseide for hours on day 1, PDAC 2022 day 2 was much quieter.

The aisles were noticably easier to navigate and of those people walking around, there seemed to be very few investors, with some booth holders even saying to me they don’t go to PDAC to meet investors! What?

So, you spend time and money putting your company into the Investors Exchange, and then turn around and say you “don’t attend the conference to meet investors?”

So they are only there to meet service providers and people selling goods and services?

That seems to be a very hollow claim to me, and smacks of them trying to mask their disappointment at the lack of investors at the show.

On the otherhand, as an investor I have had some difficulty meeting the management of some copanies at the show, due to them being “in meetings”. Nothing wrong in that of course, it’s to be expected that larger shareholders and funds would take the opportunity to meet the CEO, especially ones of companies that have performed well.

But, to be told they are not available on the stand for the duration of the show, as I was with Tara Christie of Banyan Gold, (on Day 1!) really was disappointing. I managed to catch up with her after a panel discussion, in the corridor of the Inter Continental Hotel, with people interrupting several times, and that was not what I want from a meeting, no matter how large or small my investment.

Banyan have done really well recently, so she is perhaps in more demand than others whose share price has fallen, but even so surely she should allocate some time to meet those shareholders that wish to meet her at her booth?

Contrast that with Karora Resources, where after a couple of visits to the stand the guy there, without any prompting from me texted Rob Buchanan who promptly returned to the stand and gave a proper presentation.

So, on one hand we have some CEO’s compaining about the lack of investors, or making excuses like they don’t go to the show to meet them, and then we have others that are not available to meet the few investors that take the trouble to fly over the pond to meet them.

To be offered a zoom call is not what I travel such a distance to be told, although I appreciated the gesture.

I think PDAC should mandate that all CEO’s make themselves available on their stands for at least a couple of hours on one day of the show, perhaps day 2 before lunch, to give investors that take the trouble to attend a chance to meet them. Else why should we bother attending at all?

I have had two years of Zoom calls, which served a uesful purpose during lockdown, but now I want to meet people in person again. I like to meet the CEO’s of all my stocks in person, usually before investing.

Day 3 tomorrow, and the final day where my own attendance will be curtailed due to British Airways cncelling my Thursday flight, ths forcing me onto the Wednesday night cattle truck whch will be full to the brim after the show as people return to London.

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

=======

.

City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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 authorholds shares in Banyan Gold and Karora Resources, bought in the market at the prevailing price on the days of purchase.

PDAC 2022 – Day 1 – Far Busier Than I Expected

PDAC 2022 – Day 1

I have to admit to being totally wrong about the numbers for the 2022 PDAC, as I saw unprecedented queues to register and enter the show Monday, the opening day.

Some people had to wait three hours from being held outside the building due to congestion in registration, to actually being handed their badge to enter the show.

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PDAC 2022 – People still being held outside due to congestion at registration, at lunchtime!

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PDAC 2022 – Day 1 – Far Busier Than I Expected

I have to admit to being totally wrong about the numbers I anticipated attending the 2022 PDAC, as I saw unprecedented queues to register and enter the show Monday, the opening day.

Some people had to wait three hours from being held outside the building due to congestion in registration, to actually being handed their badge to enter the show.

I was very fortunate, as i opted to take the train to Niagara Falls instead of going to pre-register on Sunday afternoon, which I normally do, mainly because I expected the show to be quiet.

So upon arriving at Union Station on Monday morning, I was going to walk around to the front of the Convention Centre and enter there, but I saw the sign for the PATH, and decided to take that instead, a fortunate decision as it turned out.

The PATH delivered me to the rear of the entrance, and this is where I saw the pilice holding a huge throng of people outside the fron of the doors, whereas people arriving from the PATH were still being admitted.

I managed to register in 30 minutes or so, it really was pandomonium in registration, I have never seen such queueus, and I have been comeing here for 16 years.

Once inside the forst shock was the reduced size of the exhibition hall, where a large section was given over to tables and chairs, and the catering, normally located in another area.

Moving around is much easier in a smaller floor area, and I soon had my target companies marked out on the plan, around 30 of them.

I was invited to a luncheon presentation for Northern Graphite in the Royal York Hotel, and they presented a good story, although their actual sales figures seemed to be vague, although they claimed to be cashflow positive.

Walking around the show and one of the major disappointments every year is that CEO’s aren’t on their booths and you have to keep going back, which wastes time and is painful on the feet.

I appreciate they have meetings to attend, but to be told the CEO will not be available on the booth during the entire show (Banyan Gold) was extremely disappointing, to say the least.

The PDAC organisers need to ensure there is a time when CEO’s are on their booths for investors, we have travelled a long way.

So day 1 has closed, there may be a lot of people here but how many investors? Not too many is my judgement based on bootholders I have spoken to. One told me he had spoken to 4 (yes four!) investors the whole day!

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

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.

City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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 authorholds shares in Banyan Gold, bought in the market at the prevailing price on the days of purchase.

Mining Review Sunday Update 29th May 2022

Mining Review Sunday Update 29th May 2022

City Investors Circle update on the mining scene, with commodity prices on the whole still falling due to a high dollar and US interest rate hike expectations.

Companies in the news this week included Banyan Gold, Calidus Resources, Karora Resources, Rokmaster Resources, and Tinka Resources. […]

.

The 121 Mining Conference was sparsely attended.

.

Mining Review Sunday Update 28th May 2022

City Investors Circle update on the mining scene, with commodity prices on the whole still falling due to a high dollar, and US interest rate hike expectations. I firmly believe FED chair Powell will have to cease rate hikes sooner rather than later.

Companies in the news this week included Banyan Gold, Calidus Resources, Karora Resources, Rokmaster Resources, and Tinka Resources.

Recent news from companies on our watchlists

Calidus Resources Announced a Maiden Lithium Drill at Spear Hill

Karora Resources 2nd Decline on Track and Cost

Tinka Resources Secure a C$11m Strategic Funding

Recent London Mining Conferences a little flat

Banyan Gold Announced a 4 million Oz Gold Resource

Rokmaster Resources Drills 34.75 M Wide Zinc-Lead

.

Market Data – Weekly price changes

(All prices in US$)

Precious Metals

Gold	1853	0.32%
Silver	22.12	1.56%
Palladium	2076	9.90%
Platinum	957	0.31%
Rhodium	15700	10.95%

.

Base metals

Copper	4.25	-0.70%
Nickel	12.5	-1.42%
Zinc	1.7	0.59%
Tin	15.3	-0.52%

.

Energy metals

Cobalt	33.75	0.00%
Manganese	3.46	-0.29%
Lithium	65123	1.44%
Uranium	45.5	-6.19%

.

Bulk commodities

Iron Ore	130	2.85%
Coking Coal	487	0.41%
Magnesium	4739	-7.39%
Lumber	699.9	4.46%

.

Miscellaneous

Au / Ag Ratio	82.83	-2.91%
10 yr T bond	2.74	-1.86%
US index (DXY)	101.64	-1.35%
HUI	260.34	1.70%
RJI (Rogers Index)	9.49	1.93%
RJA Agriculture	10.71	0.19%
RJN Energy	4.77	6.24%
RJZ Metals	11.59	2.57%

.

Mining Review Sunday Update 29th May 2022 is complete.

=======

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

=======

.

City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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 owns shares in Banyan Gold, Calidus Resources, and Karora Resources, all bought in the market, at the prevailing price on the days of purchase.

.

To read our full terms and conditions, please click HERE

Banyan Gold Announces 4 million Oz Gold Resource

Banyan Gold Corp. (TSX.V: BYN)

Announce an updated mineral resource estimate prepared for the Company’s AurMac Property ‎located in the Mayo Mining ‎district, approximately 56 km northeast from Mayo, Yukon.

The updated Resource Estimate comprises a total inferred mineral resource of 3,990,000 ‎ounces of gold. […]

.

Banyan Gold	TSX.V: BYN
Stage	Exploration
Metal	Gold
Market cap	C$104 m @ 46c
Location	Yukon, Canada

.

BANYAN ANNOUNCES 4 MILLION OUNCE GOLD MINERAL RESOURCE ESTIMATE FOR THE AURMAC PROPERTY, YUKON, CANADA

.

VANCOUVER, B.C., May 17, 2022, Banyan Gold Corp. (the “Company” or “Banyan“) (TSX-V: BYN) (OTCQB: BYAGF) is pleased to announce an updated mineral resource estimate (the “Resource Estimate”) prepared for the Company’s AurMac Property ‎located in the Mayo Mining ‎district, approximately 56 kilometres (‘kms”) northeast from Mayo, Yukon and 356 ‎kms north of Whitehorse, Yukon (the “AurMac Property”). ‎

The updated Resource Estimate comprises a total inferred mineral resource of 3,990,000 ‎ounces of gold on the road accessible AurMac Property.

This pit constrained mineral resource is contained in three near/on-surface deposits: the Airstrip, Powerline and Aurex Hill deposits.

.

Banyan Gold management comments

“This Resource Estimate demonstrates the value generated by Banyan with 40,000 metres of drilling adding over 3 million ounces of inferred mineral resources.

“All three deposits are open, with mineralization known to extend beyond the current block model boundaries.”

“Examining the Airstrip and Powerline Mineral Resource model highlights their robust nature; when the cut-off grades are increased by 50%, to 0.3g/t, just 10% of the ounces are reduced; while the grade increases by 20% to an average of 0.72 g/t.

“We are confident the 30,000 metres that the Company plans to drill in 2022 will meaningfully continue to build upon this Resource Estimate.”

Tara Christie, President and CEO, Banyan Gold

.

To read the full news release, please click HERE

.

=======

.

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

=======

.

City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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 owns shares in Banyan Gold, bought in the market at the prevailing price on the day of purchase.

.

To read our full terms and conditions, please click HERE

Mining Review Sunday Update 22nd May 2022

Mining Review Sunday Update 22nd May 2022

Gold and silver recovered somewhat this week, as did some of the base metals, but are still well down on a month ago.

Companies in the news this week included Argosy Minerals, Banyan Gold, Calidus Resources, Cyprium Metals, and Karora Resources.

.

Calidus Resources commemorative coin

.

City Investors Circle – Mining Review Sunday Update 22nd May 2022

Gold and silver recovered somewhat this week, as did some of the base metals, but are still well down on a month ago. The reason for the rise was the slight fall of the US dollar.

The base metal markets were heartened that some Chinese production was coming back online as a result of the relaxation of their severe Covid 19 lockdown rules. Having said that most metals are significantly down on monthly basis.

Companies in the news this week included Argosy Minerals, Banyan Gold, Calidus Resources, Cyprium Metals, and Karora Resources.

It’s been another difficult week for junior mining companies’ share prices, and the main faller has been Karora Resources, whose production was badly effected by covid hitting Western Australia hard, and them making a loss as a result of the increased costs of covering for absent workers and toll milling.

Calidus Resources seem to be doing everything right, completing the commissioning of their process plant and doubling their lithium pegmatite strike. I still feel they will spin out the lithium assets into a newco in the future.

Banyan Gold reported good gold intercepts from their Powerline project in the Yukon, and will report results as 2022 progresses.

.

News from our watchlist companies this week

Cyprium Metals Grow Nifty Copper Resource by 28.4%

Banyan Gold Defines Higher Grade Gold Zones at Powerline

Argosy Minerals Rincon Project Nears Completion

Global Mining Finance Conference lineup revealed

Calidus Resources Process Plant Commissioned

Karora Resources Reported a loss, Q1 2022 Results Hit by Covid

Calidus Resources Lithium Pegmatite Strike Doubled

.

General mining comments

I note a few financings going through at the moment, and there seems to be a rush to get them done before the markets drop further, in my opinion.

Pure Gold Mining have managed to get one away, but at 15 cents? Anyone buying a year ago at C$2.50 won’t be happy, but an opportunity to average down if you have faith in the new management to turn it around.

I am only looking at well financed companies currently, as those smaller juniors in need of funds may well struggle to get financings away at a good price, and that only results in killer dilution.

I’ve been there and done that, and sadly, have the scars to prove it.

Market data (US$)

Week on week changes

Precious metals

Gold	1847	1.93%
Silver	21.78	3.17%
Palladium	1889	-2.93%
Platinum	954	0.95%
Rhodium	14150	-11.56%

.

Base Metals

Copper	4.28	4.65%
Nickel	12.68	1.28%
Zinc	1.69	4.97%
Tin	15.38	0.07%

.

Energy Metals

Cobalt	33.75	-6.09%
Manganese	3.47	0.58%
Lithium	64198	1.93%
Uranium	48.5	-8.06%

.

Bulk commodities

Iron Ore	126.4	-0.47%
Coking Coal	485	-1.82%
Magnesium	5117	-0.74%
Lumber	670	-27.17%

Metal ETF’s

GDX	32.06	3.82%
GDXJ	39.09	5.36%
Sil	30.5	6.01%
SILJ	11.13	4.31%
GOEX	27.67	5.61%
GLD	172	1.90%
COPX	38.18	7.67%

.

Miscellaneous indices

Au / Ag Ratio	85.31	-2.69%
10 yr T bond	2.792	-1.69%
US index (DXY)	103.03	-1.38%
HUI	256	3.43%
RJI (Rogers Index)	9.31	1.64%
RJA Agriculture	10.69	0.19%
RJN Energy	4.49	0.67%

.

=======

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

=======

.

City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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 owns shares in Orla Mining, bought in the market at the prevailing price on the day of purchase.

.

To read our full terms and conditions, please click HERE

Banyan Gold Defines Higher Grade Gold Zones at Powerline

Banyan Gold Corp. (TSX.V: BYN)

Announced the analytical results from the first nine diamond drill holes completed in the Company’s 2022 exploration program at the Powerline deposit located on the Company’s AurMac Property, Yukon […]

.

Banyan Gold	TSX.V: BYN
Stage	Exploration
Metal	Gold
Market cap	C$104 m @ 46c
Location	Yukon, Canada

.

Banyan Gold Powerline drill core.

.

BANYAN BEGINS TO DEFINE HIGHER GRADE ZONE AT POWERLINE DEPOSIT, INTERSECTS 1.07 G/T GOLD OVER 34.8 METRES, AURMAC PROPERTY, YUKON

.

VANCOUVER, BC, May 10, 2022 – Banyan Gold Corp. (the “Company” or “Banyan“) (TSXV: BYN) (OTCQB: BYAGF) is pleased to announce the analytical results from the first nine (9) diamond drill holes completed in the Company’s 2022 exploration program at the Powerline deposit (the “Powerline Deposit”) located on the Company’s AurMac Property.

.

Assay highlights include:

32.1 metres (“m”) of 0.78 g/t Au from surface (13.7 m) in DDH AX-22-205
34.8 m of 1.07 g/t Au from surface (7.9 m) in DDH AX-22-206
33.9 m of 0.74 g/t Au from 54.2 m in DDH AX-22-207
22.5 m of 1.07 g/t Au from 22.5 m in DDH AX-22-208

.

Banyan Gold management comments

“These initial results from 2022 diamond drilling on the AurMac Property have continued where 2021 drilling left off, definition of higher-grade zones within the expanding mineralization footprint of on/near surface gold mineralization at the Powerline.”

“To date, over 17,000 m of drilling has been completed and Banyan looks forward to steady results through 2022.”

Tara Christie, President & CEO of Banyan Gold

.

To read the full news release, please click HERE

.

=======

.

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

=======

.

City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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 owns shares in Banyan Gold, bought in the market at the prevailing price on the day of purchase.

.

To read our full terms and conditions, please click HERE

Mining Review Sunday Update 3rd April 2022

Mining Review Sunday Update 3rd April 2022

The nickel price is still holding at a higher level then before the LME ‘Big Shot’ debacle, and volumes remain low, some trust has been lost.

Watchlist companies making news this week included Banyan Gold, Cornish Metals, Gold Road Resources, Neometals, and Pure Gold Mining. […]

.

Neometals Primobius JV official opening

.

City Investors Circle – Mining Review Sunday Update 3rd April 2022

.

The nickel price is still holding at a higher level then before the LME ‘Big Shot’ debacle, and volumes remain low, some trust has been lost.

When the LME unwound the day’s trades to rescue the Chinese trader ‘Big Shot’, heavily underwater and facing wipeout, they effectively cancelled completed contracts. This is not a good precedent to set, as it shakes confidence in the exchange, traders cannot be sure of where they stand if trades can be unwound.

What happens if you used the cash from an unwound nickel trade into another trade, is that unwound as well? What if you were losing and after that it bounced? A more detailed explanation is available here

I will be astonished if this doesn’t end in the High Court personally.

Watchlist companies making news this week included Banyan Gold, Cornish Metals, Gold Road Resources, Neometals, and Pure Gold Mining. Not all reported good news, so first the bad.

Gold Road Resources reported very poor half year figures, with the proposed dividend halved as a result. Mechanical issues played their part, as did a low grade area, which they are through now, and entering a higher grade zone. Guidance for this year is more or less the same as last.

Pure Gold Mining reported that they require to do a C$50 million financing to complete their recovery plan, which sent the share price down like the proverbial lead balloon.

No price for the funding has been mentioned, and that’s killing the share price as nobody in their right mind would buy before the financing price has been declared.

Advantage is with the financiers, so it may not be pleasant, lube may well be required. I feel for existing holders, but there may be an opportunity for non holders once the financing price and details are known.

Neometals announced their Primobius JV with SMS GMBH officially opened their new battery recycling plant in Hilchenbach, Germany. This is a significant milestone, and the share price has reacted accordingly.

*** Neometals share price has hit a 52 week high on the news.

Cornish Metals, looking for tin and copper in Cornwall, UK, reported a financing for up to £40.5 million, to continue to explore their highly prospective project for these critical metals.

Full details for all these stories can be found by clicking the links below.

Watchlist companies making news this week.

City Investors Circle Market Review for March 2022 published

Banyan Gold Intersected 1.16 G/T Gold over 68.9 m

Pure Gold Mining slumped on new Financing Requirement

Neometals’ Primobius JV Opened their Battery Recycling Plant

Gold Road Resources 2021 published their Full Year Results and Dividend

Cornish Metals are to Raise up to £40.5 Million

Market Data (US $)

.

Precious metals

Gold	1926	-2%
Silver	24.61	-4%
Palladium	2215	-2%
Platinum	984	-2%
Rhodium	18400	3%

.

Base Metals

Copper	4.71	0%
Nickel	14.86	-12%
Zinc	1.88	0%
Tin	19.91	3%

.

Energy Metals

Cobalt	37.4	0%
Manganese	4.18	-4%
Lithium	74197	0%
Uranium	56.7	-1%

.

Bulk commodities

Iron Ore	160.3	8%
Coking Coal	525	4%
Magnesium	6521	0%

.

Metal ETF’s

GDX	39.49	2%
GDXJ	48.2	0%
Sil	37.42	1%
SILJ	14.5	-1%
GOEX	33.3	-1%
GLD	179.5	-2%
COPX	46.7	0%

.

=======

.

City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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 owns shares in Banyan Gold and Gold Road Resources, bought in the market at the prevailing price on the day of purchase.

.

To read our full terms and conditions, please click HERE

Banyan Gold Intersects 1.16 G/T Gold over 68.9m

Banyan Gold Corp. (TSX.V: BYN)

Announced results from twenty-one diamond drill holes completed during the Company’s 2021 exploration program at the Powerline deposit located on the AurMac Property.

The glory hole was 68.9 m of 1.16 g/t Au. […]

.

Banyan Gold	TSX.V: BYN
Stage	Exploration
Metal	Gold
Market cap	C$111 m @ 49c
Location	Yukon, Canada

.

Banyan Gold – Aurmac Exploration map, Yukon, Canada.

.

BANYAN INTERSECTS 1.16 G/T GOLD OVER 68.9 METRES AT POWERLINE DEPOSIT, AURMAC PROPERTY, YUKON

.

VANCOUVER, BC, March 30, 2022 – Banyan Gold Corp. (the “Company” or “Banyan“) (TSXV: BYN) (OTCQB: BYAGF) is pleased to announce analytical results from twenty-one (21) diamond drill holes completed during the Company’s 2021 exploration program at the Powerline deposit (the “Powerline Deposit”) located on the Company’s AurMac Property.

.

Assay highlights include:

48.6 metres (“m”) of 0.51 g/t Au from 36.7 m in DDH AX-21-166
69.4 m of 0.63 g/t Au from 125.9 m in DDH AX-21-170
47.2 m of 0.50 g/t Au from surface (10.7 m) in AX-21-191
70.0 m of 0.65 g/t Au from surface (10.7 m) in AX-21-194
96.7 m of 0.86 g/t Au from 73.4 m in AX-21-197
81.9 m of 0.79 g/t Au from 32.5 m in AX-21-199
68.9 m of 1.16 g/t Au from surface (10.7 m) in AX-21-202

.

Banyan Gold management comments

“These latest assay results from our 2021 drill program continues to show the extensive nature of gold mineralization around the Powerline Deposit on the AurMac Property, and importantly, continues to add to the interpreted geologic controls that will be used to update the AurMac Gold Resource estimations during the second quarter.”

“We are looking forward to the remaining sixteen holes from the 2021 program.”

Tara Christie, President & CEO of Banyan Gold

.

For brevity, this summary has been redacted, to read the full news release, please click HERE

Image 1: Photographs of visible gold from:

A) AX-21-167: 173.7 m to 175.0 m – 1.17 g/t Au over 1.3 m
B) AX-21-170: 187.5 m to 188.5 m – 0.23 g/t Au over 1.0 m
C) AX-21-187: 96.4 m to 96.7 m – 24.4 g/t Au over 0.4 m
D) AX-21-194: 39.3 m to 39.9 m – 0.60 g/t Au over 0.5 m

.

Powerline Drill Hole Locations and Drill Plan Map, showing historic, completed, and proposed diamond drill holes.

=======

.

City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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.

.

To read our full terms and conditions, please click HERE

Banyan Intersects 1.02 G/T Gold Over 55.1 M

Banyan Gold Corp. (TSX.V: BYN)

Announced analytical results from 21 diamond drill holes drilled during the Company’s 2021 exploration program at the Powerline deposit located on the AurMac Property.

The highlight was 59.5 m of 0.71 g/t Au from Surface (14.8 m) . […]

.

Banyan Gold	TSX.V: BYN
Stage	Exploration
Metal	Gold
Market cap	C$106m @ 43.5c
Location	Yukon, Canada

.

Banyan Gold project map, Yukon Territory, Canada

.

BANYAN INTERSECTS 1.02 G/T GOLD OVER 55.1 METRES AT POWERLINE DEPOSIT, AURMAC PROPERTY, YUKON

.

VANCOUVER, BC, February 21, 2022 – Banyan Gold Corp. (the “Company” or “Banyan”) (TSXV: BYN) (OTCQB: BYAGF) is pleased to announce analytical results from twenty-one (21) diamond drill holes drilled during the Company’s 2021 exploration program at the Powerline deposit (the “Powerline Deposit”) located on the AurMac Property.

Assay highlights:

59.5 metres (“m”) of 0.71 g/t Au from Surface (14.8 m) in DDH AX-21-140
55.2 m of 1.02 g/t Au from 88.1 m in DDH AX-21-142
38.9 m of 0.51 g/t Au from 41.8 m in AX-21-148
25.3 m of 1.40 g/t Au from 94.9 m in AX-21-152
45.7 m of 0.47 g/t Au from Surface (13.7 m) in AX-21-153
70.4 m of 0.69 g/t Au from 28.9 m in AX-21-154
45.2 m of 0.62 g/t Au from Surface (10.4 m) in AX-21-156
42.7 m of 0.81 g/t Au from Surface (12.2 m) in AX-21-160
39.1 m of 0.54 g/t Au from Surface (7.5 m) in AX-21-162
31.6 m of 0.68 g/t Au from Surface (9.9 m) in AX-21-164
105.4 m of 0.47 g/t Au from Surface (9.1 m) in AX-21-175

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Banyan Gold management comments

“The next phase of exploration at the AurMac Property is well underway, with three diamond drills now turning.

“With the denser drill spacing to refine mineralization continuity in the northeast of the Powerline Deposit wrapping up, we are excited to get back to 100 m step-out drilling designed to demonstrate the size potential of the near/on-surface Powerline Deposit mineralization to the east and west.

“This latest batch of assay results from our 2021 drill program continues to showcase the extensive nature of gold mineralization around the Powerline Deposit on the AurMac Property.”

Tara Christie, President & CEO of Banyan Gold

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A video to accompany this news release and additional information is located on the website.

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

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

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

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

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

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To read our full terms and conditions, please click HERE

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Banyan Gold Reports Aurex Hill Zone Drill Results

Banyan Gold Corp. (TSX.V: BYN)

Present the complete set of results from the diamond drill exploration campaign on the Aurex Hill zone at the Company’s rapidly developing AurMac Property, Yukon.

These results demonstrate this zone has the potential to host widespread, consistent and near-surface gold mineralization over meaningful extents.

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Banyan Gold	TSX.V: BYN
Stage	Exploration
Metal	Gold
Market cap	C$68m @ 30c
Location	Yukon, Canada

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Banyan Gold project map, Yukon Territory, Canada

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BANYAN GOLD REPORTS AUREX HILL ZONE DIAMOND DRILL RESULTS, AURMAC PROPERTY, YUKON

VANCOUVER, B.C., December 7, 2021 – Banyan Gold Corp. (the “Company” or “Banyan“) (TSX-V: BYN) is pleased to present the complete set of results from the diamond drill exploration campaign on the Aurex Hill zone at the Company’s rapidly developing AurMac Property, Yukon (Table 2 and Figure 1 and 2). These results demonstrate this zone has the potential to host widespread, consistent and near-surface gold mineralization over meaningful extents.

Assay highlights from the 2021 Aurex Hill target include:

13.7 metres (“m”) of 0.59 g/t Au from surface in DDH AX-21-116
17.8 m of 0.81 g/t Au from 121.9 m in DDH AX-21-116
71.6 m of 0.36 g/t Au from 196.6 m in DDH AX-21-117
43.9 m of 0.52 g/t Au from 118.0 m in DDH AX-21-118
13.8 m of 0.66 g/t Au from 9.1 m in DDH AX-21-119
89.2 m of 0.35 g/t Au from 164.6 m in DDH AX-21-120
34.4 m of 0.53 g/t Au from 37.2 m in DDH AX-21-121
46.0 m of 0.41 g/t Au from 62.8 m in DDH AX-21-123
24.2 m of 0.57 g/t Au from 195.1 m in DDH AX-21-125
41.2 m of 0.54 g/t Au from 187.4 m in DDH AX-21-127

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Banyan Gold management comments

“Results from the seventeen holes of the 2021 Aurex Hill campaign, combined with historic intercepts, significantly increases the mineralization footprint of Aurex Hill.

“The zone represents a large untested target area with the potential to define additional near-surface, potentially heap leach developable, gold resources.

“The existing infrastructure, recently augmented by Banyan, has positioned AurMac to be advanced quickly; supporting the four drills currently operating.”

Tara Christie, President and CEO Banyan Gold

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Results from these 17 holes are consistent with previous exploration drilling campaigns at Aurex Hill, all of which have yielded significant intersections of gold mineralization including 1.11 g/t over 17.9 m from surface in AX-20-57, 0.91 g/t over 20.5 m from surface in AX 20-54 (see Company News Release, February 8, 2021)

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Image 1: Photographs of visible gold from AX-21-116 128.0 m to 129.5 m which assayed 1.64 g/t over 1.5 m images A, B, & C and image D from AX-21-131 155.5 m to 157.0 m which assayed 0.22g/t over 1.6 m.

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Diamond drilling at the Aurex Hill Zone comprised of seventeen (17) diamond drill holes designed on a nominal 100 m step-out grid focused on definition and expansion from historic rotary air blast (“RAB”) and Banyan diamond drill results from 2017 and 2020 reconnaissance drill programs which highlighted the mineralization connection potential between the Powerline and Aurex Hill zones (See Company News Releases dated January 11, 2021 & February 8, 2021).

The location of the drill grid was selected to make use of existing roads for access and previous drill results before constructing new access into other target areas of Aurex Hill.

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2021 Drill program at Powerline and Aurex Hill, showing historic, completed, and planned diamond drill holes.

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Detailed maps with drill hole locations and sections, along with additional highlighted results and full database is available on the Banyan’s website

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Banyan Gold 2021 Drilling Program Update

AurMac drill program has expanded to four (4) drills working onsite and over 30,000 m and over 135 diamond drill holes have been drilled thus far in 2021.

Diamond drilling at AurMac since the Q1 2020 maiden resource announcement is now over 40,000 m to date – which has all targeted resource expansion of the Airstrip Deposit; the Powerline Deposit and the Aurex Hill zone.

About Banyan Gold

Banyan’s primary asset AurMac is adjacent to Victoria Gold’s Eagle Gold Mine, in Canada’s Yukon Territory, which announced commercial production on July 1, 2020.

The AurMac initial resource of 903,945 oz Au was announced in May 2020.

Major strategic shareholders include Alexco Resource Corp, Franklin Gold and Precious Metals Fund, Osisko Development, and Victoria Gold Corporation.

Banyan is focused on gold exploration projects that have the geological potential, size of land package and proximity to infrastructure that is advantageous for a mineral project to have potential to become a mine. Our Yukon based projects both fit this model and our objective is to gain shareholder value by advancing projects in our pipeline.

The 173 sq km AurMac Property lies 30 km from Victoria Gold’s Eagle Project and adjacent to Alexco’s Keno Hill Silver District and is highly prospective for structurally controlled, intrusion related gold-silver mineralization. The property is located adjacent to the main Yukon highway and just off the main access road to the Victoria Gold open-pit, heap leach Eagle Gold mine. The AurMac Property benefits from a 3-phase powerline, existing Yukon Energy Corp. switching power station and cell phone coverage. Banyan has optioned the properties from Victoria Gold and Alexco respectively with a right to earn up to a 100% subject to royalties.

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For brevity, this summary has been redacted, to read the full news release, please click HERE

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City Investors Circle is based in the financial district in the City of London

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

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

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

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

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

.

=======

,

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 publishing the author holds shares in Banyan Gold, bought in the market at the prevailing price on the day of purchase .