RCKS Talk

26-Aug-2018

IDM Mining Ltd.

Site Visit: On the Path to Production

Impact: Positive

Last week we visited IDM Mining Ltd’s (TSXV:IDM) Red Mountain project in British Columbia. We were impressed with our tour and the progress the company has made on the project since our last visit in 2016. It is a busy and interesting time for IDM as the EA/EIS review process nears completion by Q3/Q4 2018 and as value engineering progresses towards an updated feasibility study (FS) expected in Q1 2019.

  • IDM continues to de-risk Red Mountain, on-track for first production in 2022
  • Optimized mine plan could significantly improve project economics
  • Re-interpreted geological model & Lost Valley highlight Red Mountain’s exploration upside
  • Expecting a re-rating by year-end as the project is de-risked
On an EV/oz basis, IDM continues to trade at a discount to peers and we believe that as the company continues to de-risk the current project and demonstrate the potential for resource growth, it should trade at least in-line with similar stage development peers.

25-Jul-2018

IDM Mining Ltd.

Money Rock Panel Samples Return High Grade Silver & Gold

Impact: Neutral

IDM Mining has released the results of additional surface samples from trenching at the Money Rock zone of the Lost Valley target at its Red Mountain Gold Project in the Golden Triangle of northwestern BC.
  • The 51 samples reported today, collected on one-metre intervals, returned an average of 9.81g/t Au and 101.40g/t Ag over 51m of strike; the total samples to date, collected over 85m of strike, average 11.15g/t Au and 82.56g/t Ag
  • Trenching at Money Rock has exposed the structure for 100m of strike length with a width of veining and faulting that varies from ~0.8 - 2.5m; panel samples were taken with the objective of representing the entire length and width of the interval
  • Money Rock potentially connects with the Randell vein which is currently being explored, with assays pending; 2016 exploration efforts are being supplemented with current and future exploration at Money Rock and Randell
We expect permitting updates and development activities to be important catalysts for the stock as the company remains focused on advancing the project towards construction (2018). IDM continues to trade at a discount to peers on a per ounce basis (C$40/oz vs. peers at C$46/oz).

19-Jun-2018

IDM Mining Ltd.

IDM Announces Resource Update at Red Mountain

Impact: Neutral

IDM Mining released the results of an updated mineral resource estimate for its Red Mountain Gold Project in the Golden Triangle of northwestern BC. The update includes additional 2017 drilling results, primarily from the underground workings of the deposit.

  • Using a 3.0g/t cut-off, the resource update outlines a 20.7% increase in M&I gold ounces or 120,900oz Au to 704,600oz Au plus 2,026,800oz Ag at an average grade of 7.91 g/t Au and 22.75 g/t Ag
  • Overall ounces increased ~18% and confidence has increased materially, but grade has declined modestly (~8% overall) which in our view has an offsetting impact
  • Importantly, the new geologic model, should result in improved targeting for future exploration
  • Resource estimate will be incorporated into an updated feasibility study expected to be completed this fall, and we expect the increase in M&I should extend the mine-life
We expect permitting updates and development activities to be important catalysts for the stock as the company remains focused on advancing the project towards construction (2018). IDM continues to trade at a discount to peers on a per ounce basis (C$24/oz vs. peers at C$42/oz).

28-May-2018

InZinc Mining Ltd.

New Management, New Focus on Exploration, Re-Rating Coming

Impact: Positive

 InZinc Mining is a zinc explorer with an excellent management team focused on unlocking the value of projects in mining friendly jurisdictions of Utah and British Columbia.

  • Experienced management with skin in the game
  • Following up, on high-grade step-out holes that could move West Desert from “Good to Great”
  • Valuation easily underpinned by existing resource on West Desert
  • Indy project provides additional exploration torque
With new and experienced management behind InZinc, projects in tier one jurisdictions and exploration upside, we expect the pending exploration results to be an important catalyst, potentially driving a re-rating of the stock, to appropriately value the underlying asset and price in the potential.

01-Jan-2018

IDM Mining Ltd. (TSXV:IDM)

RCKS Talk Blog Archive

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To access the historical archives of our original blog format, please click on the link(s) below to be re-directed. Please note that we no longer update those archive blog pages.

Click here to access the RCKS Talk Blog Archive for IDM Mining Ltd. (TSXV:IDM)


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