Equinox Gold (TSX: EQX)

Announced the sale of its 100% interest in the Pan Mine, Gold Rock Project, and Illipah Project located in Nevada, USA to Minera Alamos Inc. (TSXV: MAI)  for US$115 million, payable on closing.

.

Pan Gold Mine, Nevada – Credits Fiore Gold

.

.

.

Minera Alamos (TSX V: MAI)

Provided an operations update and select financial highlights from the second quarter of 2024 as well as some guidance regarding improved operations activity so far during Q3.

.

/

Comment

My greatest weakness in investing is hanging on too long, particularly if I like management, and I think the project is solid, and in a good jurisdiction.

I sold Minera some time ago after a comment by management that didn’t impress me, and the price has fallen considerably since then, so this is one stock I managed to call right.

Minera have a number of newsletter type followers who are all still hanging on to their buy recommendations, but I’m pleased I followed my gut feeling here. There’s no hiding the fact that these results are very disappointing.

If they begin to turn this around I may re-invest, but the news doesn’t attract me currently, and the situation regarding mining permits in Mexico remains tricky, and long winded.

One for the watchlist, nothing more at present, in my opinion.

.

.

.

 Darren Koningen, CEO, Minera Alamos stated,

.

.

.

,

,

.

Mining Review 10th December 2023

Gold has retreated from the new all time high around $2,170, and is currently trading under $2,000 again, as rate cut anticipation wains after some stronger then expected US employment numbers.

Companies in the news this week included West Red Lake Gold Mines, and I sold Argosy Minerals and Minera Alamos from my personal portfolio. 

.

Cornish Metals’ South Crofty mine and new construction seen from the builder’s merchants next door.

,

City Investors Circle Mining Review 10th December 2023

Gold has retreated from the new all time high around $2,170, and is currently trading under $2,000 again, as rate cut anticipation wains after some stronger then expected US employment numbers.

The FED are now making more hawkish noises and rate cuts may not occur as soon as the market was anticipating. This has lead to gold and other commodities falling back as the US $ rose and Bitcoin is soaring.

Companies in the news this week included West Red Lake Gold Mines, which has just been on a promotional tour of Europe, and clearly that has generated some buying.

I sold Argosy Minerals and Minera Alamos from my personal portfolio, as both companies have disappointed me and feel I can see better opportunities elsewhere.

One stock I am intending to purchase is G Mining Ventures, due to management’s experience and past achievements, and the project itself under construction in Brazil, a tier 1 jurisdiction.

Anyone considering buying the stock should look at management’s past achievements, which have been spectacular in an industry where costs nearly always overrun, and time frames need to be flexible.

News from companies in our watchlisr are listed below, please click the link to read the whole story.

  Global Mining Finance Conference Videos Loaded

  Cornish Metals Dewatering The South Crofty Mine Ahead of Schedule

  Sold Minera Alamos

  West Red Lake Gold Mines Intersected 47.44 g/t Au over 3.2m

  Sold Argosy Resources as the Lithium Price Continues to Fall

  Mining Review Sunday 3rd December

  City Investors Circle Market Review for November 2023 Published

Market Data

Weekly Price changes

(US$ unless stated)

Metal Prices

.

=======

.

Minera Alamos (TSX.V: MAI)

I have been a loyal shareholder of Minera for around three years now, and have made a profit from holding the stock, but there comes a time when you have to look at the performance against the objectives set by the company.

I am wary of the permit delays, and with an upcoming election, if they are not issued before, it may delay things for some time. I see other opportunities with less risk.

.

Minera Alamos three projects in Mexico

.

.

Sold Minera Alamos

.

.

Minera Alamos (TSX.V: MAI)

I have been a loyal shareholder here for around three years now, and have made a profit from holding the stock, but there comes a time when you have to look at the performance to date against the objectives set by the company.

I like Doug Ramshaw, he comes across as honest in an industry where that’s an attribute not exacly in abundance.

But there comes a point in any investment where you have to look at what’s been achieved and set that against the objectives set by the company themselves, and ask yourself how they compare, and if you could possibly employ you investment funds better elsewhere?

I came to that point recently, and took action by selling all but a few last Monday, as the price benefitted briefly from the gold price spike.

I am wary of the permit delays, the leach pad expansion at Santana, and the permit for contruction of Cerro de Oro, and with an upcoming election, if they are not issued before it, it would delay things for some time.

Despite their public utterances (pre-election!) about no new open pit permits, some have been issued, and so there is no reason to doubt Cerro de Oro will eventually get its permit, but the potential delay is impossible to calculate.

I see other opportunities with less risk.

.

=======

.

Mining Review 26th November 2023

i-80 Gold announced high grade results from their Cove Gold Project in an otherwise quiet week for news from our watchlist stocks.

The recent Global Mining Finance Conference was busy as it lead into the London Mining fortnight, with other conferences to follow.

.

i-80 Gold Cove Portal

.

Mining Review 26th November 2023

i-80 Gold announced high grade results from their Cove Gold Project in an otherwise quiet week for news from our watchlist stocks.

The recent Global Mining Finance Conference was busy as it lead into the London Mining fortnight, with other conferences to follow.

It’s the time of year that I find myself looking at my portfolio and the site’s watchlists, and having a clear out of stocks I no longer have the same warm feeling for that I once did, mainly because the story has changed, or delays have become interminable.

My first sale is Minera Alamos, a stock that has disappointed from production startup. The company went into production without a 43-101, but with an experienced team constructing a low cost mine on time and on budget, it augered well.

Sadly production startup has not gone well with a lack of rain being blamed for poor production figures that have resulted in poor financial performance thus far, although there are hopes that this year’s will be better.

On top of that they are waiting for the permit to construct the Cerro de Oro open pit mine, in a race against time due to the Mexican election early next year.

I look at it this way, if Minera improve things I can always buy back in the future, but for now I feel more comfortable out of the stock.

Another stock I’m looking closely at is Argosy Minerals, with a falling lithium price and little production news out of Argentina. I may well cut my losses here in the next few days.

I am now turning my attention to the watchlist, where I’m going to weed out a few non performers, with Tinka Resources on that list already.

I’m looking for new companies likely to have plenty of newsflow and well funded to replace them. G Mining Ventures  is one I am going to add.

News from our watchlist companies last week can be found by clicking the links below.

  Cabral Gold Announced Cuiu Cuiu PFS Update

  Portfolio Adjustment – Selling Minera Alamos

  Neometals Launched Placement and Entitlement Offer

  Canadian Anti Shorting Conference

  i-80 GOLD Announces Cove High Grade Results

  Global Mining Finance Conference Was Busy

  Mining Review 19th November 2023

Market Data

Weekly Price Changes

(US$ unless stated)

.

=======

.

City Investors Circle

As we come to the end of 2023, it’s time to make some adjustments to my portfolio, and the watchlists.

I am selling Minera Alamos for a couple of reasons, the principal one being the dependance on the Cerro de Oro permit application, and the proximity of the Mexican election, which may delay it unless they can push it through. This makes MAI a bit of a binary bet on the short term, and I don’t like those one bit.

.

Minera Alamos three projects in Mexico

.

.

.

.

.

Selling Minera Alamos, a tough decision but I can always buy back

.

.

As we come to the end of 2023, it’s time to make some adjustments to my portfolio, and the watchlists.

I have been considering selling Minera Alamos for a while now, and I feel the time has come.

There are a couple of main reasons, the principal one being the dependance on the Cerro de Oro permit application, and the proximity of the Mexican election, which may delay it unless they can push it through.

This makes MAI a bit of a binary bet in the short term, and I don’t like those.

We then have the Mexican governement’s objections to new open pit applications, and I start to get a queasy feeling that this may not go as easily as planned, or not at all.

The other reason is the startup has been poorly executed with a dependance on rainfall at the right times, which caused low production for the last couple of years and then seems to have improved somewhat this year. My concern is what happens if there is a lack of rainfall next year?

So, on balance, the warm feeling I used to have for Minera has dissipated and been replaced with doubts and concerns, and I don’t like those, so the decision to sell a stock I anticipated being in my portfolio for many years has become easy.

At the end of the day if they eradicate rainfall issues, and receive their permit for Cerro de Oro, I can always buy back if I have funds available at the time.

I may miss a few percent profit, but I may also miss further falls in price, it’s always a balancing act mentally, and that’s the beauty of investing in thos sector.

My thoughts on Minera currently

Pro

• Experienced team, done it before, in Mexico
• Low capex mine
• Low AISC
• Pathway to new mines and increased production

.

Cons

• No 43-101
• Dependancy on rain falling at the right time
• Awaiting a permit that may not happen before the Mexican election next year, which could create a much larger delay if it happens
• Mexican governement opposing some new open pit mines
• Initial mine startup move to commercial production was painfully slow, causing some investors to sell and the share price to lose momentum

So, there it is, a decision I didn’t want to make, but feel I have to make, as I’m looking to reinvest the funds in other stocks where I have recently met management, and I don’t want to draw down on my dry powder just yet, keeping that until I can detect a better market for the mining sector.

——-

I have recently attended the Global Mining Finance and 121 Conferences, and have some prospects to study before I make investment decisions.

G Mining is one I particularly liked the look of, impressive track record of the team, funded to construction, gold production in 2024, and Brazil is a tier 1 jurisdiction, whereas Mexico is tier 2 now in my opinion.

I will discuss more portfolio sells and watchlist changes in the coming days.

.

=======

.

Minera Alamos (TSX.V: MAI)

Announced that it has executed the definitive documentation for the previously announced Cerro de Oro funding package associated with the planned construction of the Cerro de Oro gold mine that is currently anticipated to begin next year.

.

Minera Alamos three projects in Mexico

.

Doug Ramshaw, President, Minera Alamos Stated 

Mining Review 8th October 2023

Higher US bond yields were the focus this week as they pushed gold lower, and then on Friday retreated a tad to allow gold to rise into the close.

Neometals issued an update on their Barrambie titanium and vanadium project, announcing they have failed to agree terms with Xinjiang for offtake, and have terminated discussions.

.

Cornish Metals’ South Crofty Mine seen from the neighbouring builder’s yard.

City Investors Circle Mining Review 8th October 2023

Higher US bond yields were the focus this week as they pushed gold lower, and then on Friday retreated a tad to allow gold to rise into the close. some commentator think this is the peak for rates, but I’m not convinced.

Tirning to companies on our watchlist, last week was sparse on the news front,  with the major story being Neometals’ update on their Barrambie titanium and vanadium project, where they announced they have failed to agree terms with Xinjiang for offtake, and have terminated discussions.

This is clearly a major disappointment, and a bit of a surprise, as I expected an agreement as clearly the Chinese want and need the product, and NMT the offtake agreeemnt to boost the share price.

One wonders what the stumbling blocks were and how far apart on price?

Other snippets from our watchlist companies are listed below, juct click on the item to be taken to the page to read in full.

  Cornish Metals Financial Statements and MD & A

  Battery Recycling Expert to Lead Neometals Recycling

  Impact Minerals HPA – New Presentation

  Minera Alamos Announced an MRE for Santana

  Neometals Issued a Barrambie Offtake Update

  Global Mining Finance Conference Update

  Mining Review 1st October 2023

  Market Review September 2023

Market Data

Weekly price movements

(US$ unless stated)

Metal and ETF prices

.

.

Minera Alamos (TSX.V: MAI)

Announced the results of an independent estimate of the Mineral Resources currently outlined at the Santana gold project  in Sonora, Mexico.

The Resource Estimate was prepared in accordance with National Instrument 43-101

.

Minera Alamos three projects in Mexico

.

,

Minera Alamos Announces Maiden Resource Estimate for the Santana Gold Project, Sonora, Mexico

.

.

Darren Koningen, CEO, stated,

“This maiden resource covers just the development zones in the immediate area of the current Santana mine operations and is a major step in highlighting the robust resource data and metallurgical input that provided the Company with comfort in developing our first low capital mine.

 

To read the full news release, please click HERE

Mining Review 3rd September 2023

Gold rallied strongly during the week, after disappointing US economic data suggested the FED may have to call a halt to further interest rate rises sooner than expected, bring recession fears to the fore and interest rate cuts sooner than expected, all positive for gold.

Eloro and O3 Mining both reported good drill results during the week, and Gold Road Resources reported record profits for H1 2023. 

.

Lefroy Exploration – Burns RC drilling, August 2022

.

City Investors Circle Mining Review Sunday 3rd Spetember 2023

Mining Review 3rd September 2023

Gold rallied strongly during the week, after disappointing US economic data suggested the FED may have to call a halt to further interest rate rises sooner than expected, bring recession fears to the fore, and interest rate cuts sooner than expected, all positive for gold.

Lithium carried on falling in price, down over 3% week on week, and a whopping 25% in the last month. with increasing EV production this isn’t supposed to be happening!

Nickel was another notable rise, up 5%, which helps Karora Resources as they have nickel credits at their Beta Hunt Mine in WA. It’s for those nickel credits that I chose to invest in Karora, as they offer a cushion if there’s a downturn in the gold price.

—

A date for your diaries, the next Global Mining Finance Conference will take place on the 16th November, at the Pewterers’ Hall, Oat lane, St. Pauls, London.

—

News from our watchlist companies last week

Not so much newsfow this week, some weeks are just quiet when others simply explode with news, especially before a major conference…

Eloro Resources intersected significant tin mineralisation at their Iska Iska polymetallic project in southern Bolivia. This deposit just keeps expanding, and will surely attract a major at some point?

O3 Mining also reported good gold intersects at their Marban deposit in Quebec. This project is within line of sight of the huge Canadian Malartic Mine.

Gold Road Resources reported record profits from their  Gruyere Mine JV in Western Australia. This was a result of now being unhedged, with a favourable A$ exchange rate. Production is currently on guidance for the year.

To read the full news stories for last week, click on the links below.

  Gold Road Reported Record Half Year and Profits

  Minera Alamos Operations Update and Q2 Financials

  Market Review August 2023 Published

  Mali Governement Mining Law May Deter Investment

  Eloro Resources intersected Significant Tin Mineralization

  O3 Mining Repored Results from Upper Camflo

  Mining Review 27th August 2023

.

.

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 holds shares in all the companies mentioned above...

Market Review June 2023

The City Investors Circle Market Review for June 2023 has been published.

The review features comments on Marathon Gold, Gold Road Resources, Minera Alamos, and a few other companies. 

.

.

Market Review June 2023

The City Investors Circle Market Review for June 2023 has been published.

The review features comments on Marathon Gold, Gold Road Resources, Minera Alamos, and a few other companies.

.

.

Mining Review 4th June 2023

Once again the price of gold is tumbling after renewed FED hawkish comments about further interest rate rises.

Comments on Ascot Resources, Gold Road Resources, Minera Alamos, Neometals and Pacgold.

.

PAcgold Alice River Project location map, Queensland, Australia

.

City Investors Circle Mining Review 4th June 2023

Mining Review 4th June 2023

Once again the price of gold is tumbling after renewed FED hawkish comments about further interest rate rises.

Comments on Ascot Resources, Gold Road Resources, Minera Alamos, Neometals and Pacgold.

  Pacgold Intersects Targeted Broad Zones of Veining

  Neometals’ Primobius Positive Update

  Minera Alamos Cerro de Oro Finance package Agreed

  City Investors Circle Market Review May 2023 Published

  Ascot Resources Reported Q1 Results and Construction Update

  Gold Road 2023 AGM Presentation

  City Investors Circle Mining Review 28th May 2023

Market Data

Week on week price changes

(US$ unless stated)

.

Metal Prices

.

ETF prices

.

.

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 holds shares in Ascot Resources, Gold Road Resources, Minera Alamos, and Pacgold.

.

To read our full terms and conditions, please click HERE

Minera Alamos (TSX.V:MAI)

Announced the conclusion of discussions with lenders regarding a funding package tailored for the limited capital requirements associated with the planned construction of the Cerro de Oro gold mine that is currently anticipated to begin next year. 

.

Minera Alamos three projects in Mexico

.

.

Minera Alamos – Financing Package Termsheet Executed for Cerro de Oro Gold Project.

Toronto, Ontario – (Newsfile – May 31st 2023)

Minera Alamos Inc. (the “Company” or “Minera Alamos”) (TSX VENTURE:MAI) is pleased to announce the conclusion of discussions with lenders regarding a funding package tailored for the limited capital requirements associated with the planned construction of the Cerro de Oro gold mine that is currently anticipated to begin next year.

The Company has signed a termsheet for a US$15 million Loan Facility and US$10 million Royalty that is expected to close on or around July 14th upon signing of definitive documentation as well as board and regulatory approvals.

.

Doug Ramshaw, President, Minera Alamos Stated;

“We are delighted to have entered into this agreement, which provides a fully funded and single source solution to meet the capital expenditure requirements for the Company’s planned new gold mine upon the successful receipt of permits.

 

“The low capital cost of the Cerro de Oro project has allowed us to consider less covenant heavy terms that provide for increased flexibility in the lead up and during
construction of our second mine.

 

“In addition, the termsheet provides the ability to draw down a modest portion of the total package ahead of permit receipt that will support the pre-construction activities planned for Cerro de Oro in 2023.

 

“This allows our existing treasury to continue to support operational activities elsewhere including the drill campaign currently underway and other corporate initiatives”.

.

Key aspects of the financing package are detailed below:

Loan Package (US$15 million)
• Loan Term – 3 years
• Loan upfront fee – 2% on closing
• Loan security – comprising share pledges over the Cerro de Oro and La Fortuna operating subsidiaries
• Interest charged at 1.25% per month on any drawn amount of the loan
following closing to fund pre-permit activities related to the Cerro de Oro mine.

The remaining US$10 million will be available upon receipt of construction permits.
Royalty Package (US$10 million)
• 2.75% NSR on all metal production from the Cerro de Oro mine
• Royalty Buyback – for a period of 30 months post royalty closing, Minera can buy back 2% of the 2.75% NSR by delivering a minimum of 3200 oz of gold related to the NSR and a payment of US$6.3 million.

In the event Minera exercises the royalty buyback at an earlier date than the expiry date (30 months from closing), a credit of 100oz of gold per full month will be given against the minimum threshold.
• The royalty holder will retain the option to sell the remaining 0.75% to Minera for US$3.7 million.
• Minera and all its operating Subsidiaries will enter into a purchase and sale agreement for a minimum of 100% of its gold production to be sold at market rates for a period of no less than 36 months from closing.
Closing remains conditional upon the completion of satisfactory technical due diligence, completion of satisfactory documentation including but not limited to the entering into of the security documents, appropriate legal opinions and any other required conditions that are standard for a facility of this type.

Closing is anticipated to take place around July 14th, 2023 at which time the Interim funding may be drawn with the remaining Loan facility and Royalty Facility available to the Company upon receipt of permits.

.

To read the full news release, please click HERE

.

.

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 holds shares in Minera Alamos

To read our full terms and conditions, please click HERE

Mining Review 7th May 2023

The FED rate hike dominated the markets this week, up .25% as gold fell on the news, later recovering a little.

American Creek, Cartier Resources, Eloro, Goldshore, and Minera Alamos all made news this week. 

.

.

City Investors Circle Mining Review 7th May 2023

The FED .25% rate hike dominated the news this week and despite the rise, and the potential for more rate increases, gold ended up in positive territory, up over 1% week on week at $2016.

Silver is also enjoying the positivity, up 2.4%, whilst the PGM’s were down, due to a decrese in Chinese economic output.

Companies on our watchlist in the news this Week

American Creek reported that JV partner Tudor Gold has filed a 43-101, and Goldshore reported preliminary Mettalurgy results for Moss Gold.

Click the links below for the full story.

 City Investors Circle Celebrates the Coronation of King Charles 3rd

  Cartier Resources Cuts two New Zones at Chimo Mine Project

  Goldshore Preliminary Metallurgy Results for Moss Gold

  Minera Alamos earns $5.6-million in 2022

  American Creek’s JV Partner Tudor Gold Files NI 43-101

  Eloro Commences Trading on the TSX Main Board

  April 2023 Market Review Published

Read more: http://www.city-investors-circle.com/archives/#ixzz80ydTPaVS

Market Data 

Week on week price changes

US$ unless stated

.

.

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 holds shares in American Creek, Eloro Resources, Goldshore Resources, and Minera Alamos.

..

Minera Alamos Inc. (TSX.V: MAI)

Provided selected financial highlights from its 2022 annual financial statements and MD&A (management’s discussion and analysis) filed on SEDAR on May 1, 2023. 

/

Minera Alamos three projects in Mexico

.

Minera Alamos earns $5.6-million in 2022

2023-05-02 10:08 ET – News Release

Mr. Doug Ramshaw reports

MINERA ALAMOS REPORTS 2022 YEAR END FINANCIALS AND OPERATIONS UPDATE

.

.

Minera Alamos Inc. (TSX.V: MAI) has provided selected financial highlights from its 2022 annual financial statements and MD&A (management’s discussion and analysis) filed on SEDAR on May 1, 2023.

.

2022 Operational Highlights

Total gold ounces recovered and sold in 2022 was 11,667 ounces from the Santana Project with inventory on the pad of 6,950 ounces as at December 31, 2022.

Primary surface rights agreements were concluded for the development of the Cerro de Oro gold project in northern Zacatecas, Mexico. The agreements allowed the Company to complete the documentation required to formally proceed with the Cerro de Oro permitting process.

The Company announced the positive results of an independent Preliminary Economic Assessment (“PEA”) for the Cerro de Oro Project in Zacatecas, Mexico.

.

2023 Operational Outlook

At Santana, as outlined in January 2023 (see operation update news release dated January 31st, 2023), the Company has given priority to the acceleration of some waste removal (“pre-stripping”) activities during early 2023 in advance of the planned transition of mining activities at the Nicho main zone.

The Company is continuing to utilize existing pad space while waiting for the pending permit amendment approvals. During this period of waste mining, gold production slowed, as expected, but the Company still maintained some mining and leaching activities and sold 1,295 ounces of gold in Q1.

The Company is anticipating an increase in mining, stacking and leaching activities in Q2 relative to Q1 utilizing the existing pad capacity at Santana. Updated operational plans have identified approximately 4000 ounces of gold from the Nicho Norte pit which are available for short term mining activities in the coming quarter ahead of the planned expansion of mining operations.

The planned pad expansion that would triple pad capacity will allow efficient loading of the existing pad alongside the expanded pad area.

Exploration drilling of the Benjamin Hill, Benjamin West and the Zata zones is currently ongoing, the results of which will allow for the longer term site planning at Santana.

In April 2023, the Company completed the documentation necessary to formally proceed with the Cerro de Oro permitting process. The management of the remainder of the permit process will now be handled by the Company’s permitting consultants. Concurrent with the permitting, the Company is planning additional drilling and metallurgical work that will inform the final operational plan for the proposed mine.

Discussions continue with a number of interested lending partners to provide the modest capital funding requirements for the development of the Cerro de Oro mine, with the goal of a definitive lending package by mid-year, which could be drawn down for construction purposes upon final receipt of permits.

.

To read the full news release, please click HERE

.

.

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 holds shares in Minera Alamos.

..

Minera Alamos (TSX.V: MAI)

Updated the market for the fourth quarter 2022, and the news was not as good as expected.

Minera have been plagued with a lack of water issue preventing normal operation at Sentana. This caused a big miss on guidance. The company reamins well funded..

.

.

Minera Alamos three projects in Mexico

.

.

.

Minera Alamos Update disappoints

.

.

Minera Alamos (TSX.V: MAI) updated the market for the fourth quarter 2022, and the news was not as good as expected.

Minera have been plagued with a lack of water issue preventing normal operation at Sentana. This caused a big miss on guidance. The company reamins well funded.

I am continuing to hold in the belief that management will turn things around.

The news release is below;

Minera Alamos Inc. has provided an update following the completion of the company’s 2022 end-of-year planning reviews and meetings.

The company met its initial thresholds for commercial production at Santana during 2022, including criteria related to gold recoveries from the heap leach pad as well as monthly mining rates in the second half of 2022

Final approvals are pending for the next phase of pad expansion that should more than triple the leach pad capacity at the Santana mine in addition to providing full access to the Nicho deposits, which have grown in size as a result of the 2019 and 2020 drilling campaigns, subsequent to the project’s initial permit approvals for the start of mining operations.

These applications were resubmitted in the second half of 2022 after modifications to comply with new requirements related to reductions in greenhouse gas emissions viaprograms of surface reforestation.

Operational plans are currently being modified following a temporary shutdown over the Christmas holidays that allowed for a full review of 2022 operational data amongst the operations team and the mining contractor.

As mentioned in previous announcements, the drought conditions experienced in northern Mexico since 2020 remain a challenge. Current forecasts call for the warmer/drier conditions related to a La Nina event now entering an unprecedented third straight winter to dissipate in the first half of 2023. Until such time that there is a clearer outlook on the overall water conditions in the region, the company remains cautious with respect to short-term mine planning activities.

As a result of the continued strengthening of the balance sheet during 2022, the company has given priority to the acceleration of some waste removal (prestripping) activities during early 2023 which are not reliant on water availability.

In addition, the company is currently mobilizing for further exploration drilling to be initiated in Q1 to better define previously identified gold-bearing breccia pipes outside of the currently mined areas (delayed during the pandemic period).

These activities combined with continuing planning discussions with the company’s mine contractor aim to prepare the project for growth of the Santana operations beyond the starter pits and initial leach pad. Minera has been working to procure adequate supplies, including pad liner, to allow construction to begin rapidly upon receipt of the new permits which should avoid major disruptions as the expansion is commissioned.

The Santana project was envisioned as a classic bootstrapped operation with multiple phases of planned pit and pad expansion. Built for approximately $10-million (U.S.), 2022 operational performance has already paid back the majority of the start-up capital.

In determining whether commercial production thresholds had been reached the company considered milestones associated with the first phase Santana operation focused on mining rates and gold recoveries from the Santana leach pad.

In the second half of 2022, the operation demonstrated the ability to operate at the initially targeted 10,000 tonnes per day (combined mineralized material and waste). In addition, overall gold recoveries have been trending in excess of 70 per cent for material under leach for a minimum of 45 to 60 days with residual leaching continuing.

.

.

.

Darren Koningen, chief executive officer stated

“We are pleased with the results from the Santana gold project during our first year of operations in 2022.

 

“Despite the difficulties that presented themselves during the year, both capital and operating costs continue to meet our expectations and provide a sound basis to inform the company’s plans for the development of the upcoming Cerro de Oro project.

 

“As we move forward in 2023, the company is taking advantage of the drier months ahead to prioritize waste development activities in advance of the receipt of final approvals related to the next phase of Santana project expansion which should give rise to a stronger second half of the year.

 

“The restart of exploration activities at site is especially exciting and will finally allow for better definition of the long-term potential of the area and facilitate planning for future expansion phases.”

.

.

To read our full terms and conditions, please click HERE

Mining Review 22nd January 2023

Copper is up as once again supply concerns emerge as more protests erupt in Peru, constraining production in the second largest exporting country.

Ascot Resources, Calidus Resources, Impact Minerals, Minera Alamos, Orla Mining, and TriStar Gold made news this week.

.

.

.

TriStar Gold team in Para State, Brazil.

Mining Review 22nd January 2023

Copper is up as once again supply concerns emerge as more protests erupt in Peru, constraining production in the world’s second largest exporting country. Some protests are targeting mines, with blockades, and arson attacks, the others the government, so it’s a fiery mix.

This is occurring as China is ramping back up their industrial production against a background of low world copper warehouse stocks.

Quite a busy week for news, with Ascot Resources, Calidus Resources, Impact Minerals, Minera Alamos, Orla Mining, and TriStar Gold all making positive this week. Please click the links below for the full story.

  Impact Minerals Selected For BHP’s Xplor program

  Ascot Resources Closes C$200m Construction Financing

  TriStar Gold – Corporate Update

  Calidus Resources Finds High-grade Gold at Blue Spec

  Orla Mining Reported Record Quarterly Gold Production of 32,017 Ounces

  Minera Alamos filed Cerro de Oro PEA

  Mining Review 15th January 2023

Read more: http://www.city-investors-circle.com/archives/#ixzz7r263diA1

.

Market Data

Metal prices weekly change

(US$ unless stated)

Metal prices

.

ETF prices

.

Miscellaneous Market Data

.

=======

.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 holds shares in Ascot Resources, Calidus Resources, and Orla Mining.

.

.

Minera Alamos (TSX.V: MAI)

Filed the results of the independent preliminary economic assessment (PEA) titled “NI43-101 Technical Report, Preliminary Economic Assessment and Mineral Resource Estimate for the Cerro de Oro Gold Project, Zacatecas, Mexico” on SEDAR. 

.

.

.

Minera Alamos three projects in Mexico

.

.

.

.

.

.

Minera Alamos files Cerro de Oro PEA, technical report

2023-01-06 09:58 ET – News Release

Mr. Doug Ramshaw reports

MINERA ALAMOS FILES TECHNICAL REPORT AND PRELIMINARY ECONOMIC ASSESSMENT FOR THE CERRO DE ORO PROJECT

,

,

Minera Alamos Inc. (TSX.V: MAI) has filed the results of the independent preliminary economic assessment (PEA) titled “NI43-101 Technical Report, Preliminary Economic Assessment and Mineral Resource Estimate for the Cerro de Oro Gold Project, Zacatecas, Mexico” on SEDAR.

The results of the PEA were previously discussed in the company’s news release dated Oct. 3, 2022, highlights from which are included below. The report, effective as of Sept. 28, 2022, can be located under the Minera Alamos profile on SEDAR.

.

.

Highlights of PEA (all currency references are in U.S. dollars):

• Production highlights:
  • Average annual gold production approaching 60,000 ounces (approximately 60,000 ounces to 70,000 ounces in years 1 through 4);
  • 8.2-year mine life based on initial minable total of 59 Mt (million tonnes) of mineralization (0.37 g/t (gram per tonne) gold) heap leached at an average rate of approximately 20,000 tpd (tonnes per day) — plus 0.4 g/t Au in years 1 through 4;
  • 477,000 ounces of gold produced in loaded carbon/dore;
  • LOM (life-of-mine) strip ratio of 0.3:1 (waste:mineralization);
• Robust economics using a gold price of $1,600/ounce:
  • LOM all-in sustaining cost (AISC) of $873/ounce — averaging $763/ounce in years 1 through 4;
  • After-Tax NPV (net present value) at a 5-per-cent discount rate of $150.5-million and IRR (internal rate of return) of 111 per cent;
• Low capital intensity project with rapid payback:
  • Preproduction capital costs of $28.1-million (includes 30 per cent contingency);
  • Payback period of 11 months;
  • Used crushing plant already purchased reduces up front capital requirements;
• Significant upside:
  • Mineralization appears open in multiple directions, as well as to depth;
  • Additional metallurgical testing to examine amenability of gold recovery from deeper sulphide zones of mineralization not accounted for in current resource calculations and mine plans (some early indications that material may prove to be leachable);
• Updated inferred mineral resource estimate containing 67 million tonnes of 0.37 g/t Au (790,000 ounces of contained gold) based on an upward revision of the base case resource gold price to $1,700/ounce.

.

.

=======

.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 holds shares in Minera Alamos.

.

.

To read our full terms and conditions, please click HERE

City Investors Circle

The first few days of the new year have started well for precious metals, with gold and silver up and trading strongly.

Some of our watchlist stocks have had a good first week, with i-80 Gold, Karora Resources, Minera Alamos, and Orla Mining all rising strongly. 

.

.

.

.

.

.

City Investors Circle Watchlist Stocks Rising in the First Week of The New Year.

The first few days of the new year have started well for precious metals, with gold and silver up and trading strongly.

Gold is up around $48 this week to $1868 as these notes are being written, confounding the doomsters that predicted heavy falls for gold when interest rates rose. Gold is defying conventional wisdom, possibly due to recent central bank buying showing that in some countries it is still considered a safe store of value and protection against currency debasement.

And of course with no counterparty, no risk of confiscation either, think Russian assets being frozen outside Russia.

Some of our watchlist stocks have had a good first week, with i-80 Gold, Karora Resources, Minera Alamos, and Orla Mining all rising strongly.

These are, in my honest opinion, solid stocks, well financed, and the last three are all in production and benefitting from the higher gold price.

i-80 Gold recently reported some bonanza polymetallic grades at Ruby Deeps, at Ruby Hill, which raised investor interest in the stock.

Karora Resources are recovering well from the selloff after they reported bad quarterly results due to covid hitting their workforce hard, and AISC rising out of control as a result. They are one to watch this year as they increase their nickel production to complement rising gold production in WA.

Minera Alamos is still to report commercial production, but the stock is rising, perhaps on the back of a director purchase earlier this week.

Orla Mining has had no news, but perhaps their purchase of Gold Standard ventures has deflected the fact that they have a copper gold asset in Panama, the scene of a battle between the government of that country and First Quantum, which is getting messy, although mining is continuing at their Cobre Mine, despite government orders to cease mining and close the mine, see here.

All handbags in my opinion, neither side can afford to lose the money the mine generates so a deal will be done, let’s see who blinks first.

Not much exploration news this week but we are only just restarting after the Christmas and New Year break.

.

=======

.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 holds shares in ALL the companies mentioned.

.

.

Mines and Money Day 2

A much quieter day attendance wise, so easier to get occasional random chats.

I met a diverse group of companies at the show, including a couple I hold, mainly Minera Alamos, and  Eloro, plus a few I have been considering investing in, namely Barton Gold, and Skeena. 

.

.

.

Mines and Money London 2022.

.

.

Mines and Money Day 2

A much quieter day attendance wise, so easier to get occasional random chats.

The organisers claimed an attendance of 1,800, which surprises me because I thought it was very quiet, so I don’t know where the rest of the delegates were hiding.

Every time you enter the hall they beep your badge, so a smoker going in and out would be beeped many times, and I wonder whether they simply record the number of beeps, which would include all the presenting companies and their employees of course, many of whom were going in and out all day for meetings etc.

I met a diverse group of companies at the show, including a couple I hold, Minera Alamos, and  Eloro, plus a few I have been considering investing in, namely Barton Gold, and Skeena.

——-

I met Doug Ramshaw and Victoria Vargas of Minera Alamos first, because I wanted an update due to the lack of a commercial production announcement, and the continual fall in the shareprice.

Doug said he expected to announce commercial production early in the New Year, and the reason for the falling price was a large seller dumping in the market rather than trying to find a buyer and cross stock instead.

The selling does seem to have stopped now and the price has risen 8c since the recent bottom.

Construction of the Cerro de Oro mine should start next year as Minera implements their plant to become a >100,000 ounces of gold producer.

The meeting was positive for me, Doug is a relaxed matter of fact type of guy, no promotion here, just facts, just how I like it.

I then met Impact Silver (IP) , a company that I have never invested in despite being a silver bug.

Impact have a number of producing mines in Mexico, but the problem they have is their costs are too high and they’re losing money despite being in production!  They need a silver price over $21 per once to make money, and that may just be about to happen looking at the current silver price. They are also going to increase production which will in itself lower fixed costs per ounce of silver produced.

Viva Gold (VAU.V) are a junior working on Nevada, at Tonapath, on the Walker Lane Trend. They need to raise C$5 million to reach the feasibility study stage.

They are currently valued at just $17 per ounce of resource, which is low for a tier 1 jurisdiction.

I also met Metallic Resources (MMG.V), who are exploring next to the Hecla (formerly Alexco) mine at Keno Hill, Yukon.  This is high grade silver country, Keno having the highest grade silver in Canada.

MMG also have a copper porphyry project in Colorado, called La Plata.  Management here have a good track record so one for the early stage watchlist maybe?

The day concluded with an invitation to a lovely Mexican restaurant for a function hosted by the TMX Group.

=======

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 holds shares in Minera Alamos, bought in the market at the prevailing price on the days of purchase.-80 Gold.

.

.