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Monday, October 23, 2017 Derek Macpherson

RCKS Charts: AMI, WDO, BTR & GRR

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In this edition of RCKS Charts, Keith has identified, four stocks with encouraging technicals to keep an eye on: AuRico Metals Inc. (TSX:AMI), Wesdome Gold Mines Ltd. (TSX:WDO), Bonterra Resources Inc. (TSXV:BTR) and Golden Reign Resources Ltd. (TSXV:GRR).  read more


Monday, October 23, 2017 Derek Macpherson

NM Expands Sterling Property

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Northern Empire Resources Corp. (TSXV:NM) has announced the expansion of the Sterling property in Nye County, Nevada by acquiring 261 claims to bring the total land package to 116 square kilometres. The company has now become a dominant landholder in the Bare Mountains district, which includes the past producing Sterling, 144, Daisy, Secret Pass and Mother Lode deposits. The Sterling mine is currently permitted to restart operations and the property hosts total inferred resources of 709,000 oz with an average grade of 2.23 g/t Au. The company’s hyperspectral data identified areas of alteration on the property that will be assessed by their geological team in the coming weeks. At C$56/oz, Northern Empire trades closely to peers at C$60/oz; however, our view is at the current EV of ~C$39 million, the market is ascribing value to either the exploration potential of the company’s Crown project or to the permitted Sterling mine, but not both.  read more


Monday, October 23, 2017 Derek Macpherson

RCKS 5th Annual Fall Mining Showcase Presenter Preview

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On Thursday October 26, 2017, Red Cloud Klondike Strike Inc. will be hosting its 5th Annual Fall Mining Showcase. The event features presentations from 18 companies, including a themed breakfast and lunch presentation from industry leaders. For more details, please visit our event page. In this post, we provide a brief preview on the 18 presenting companies and 19 banner participants that will be in attendance.  read more


Monday, October 23, 2017 Derek Macpherson

MTO Reports FQ4; Meets F2017 Guidance

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Metanor Resources Inc. (TSXV:MTO) reported FQ4 2017 and F2017 year-end (June 30th year-end) financial results with gold production of 7,248 ounces for the quarter and 34,853 ounces for the fiscal year. Last quarter the company raised its production guidance from 28k-33k ounces of gold to 33k-36k. Although production declined QoQ (Figure 1), the company met its F2017 production guidance which was up 4.2% from 33,450 ounces of gold in fiscal 2016. The company also decreased cash costs by 6% from C$1,207/oz in F2016 to C$1,134/oz in F2017. We expect operating results from the most recently completed quarter (quarter-end September 30) along with results from the ongoing drill programs at both Barry and Bachelor to be important near-term catalysts for the company.  read more


Friday, October 20, 2017 Derek Macpherson

AbraPlata Reports Good Results at Fantasma

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AbraPlata Resource Corp. (TSXV:ABRA) has announced the latest drill results from the Fantasma mineralized zones at the Diablillos project in Argentina. Results were highlighted by 89.6 g/t Ag over 9 meters and 227.0 g/t Ag over 2 meters (DDH-17-152). Drilling at Fantasma has indicated mineralization and alteration over a 400-meter zone orientated along a west-north-west trend. The identified high-grade core of the mineralized zone appears to have a strike of 200 meters and a width of about 30 meters (Figure 1). This zone is open towards the Oculto deposit, which currently hosts an indicated resource of 27.7 Mt at 91.2 g/t Ag and 0.85 g/t Au. The Oculto deposit is one of nine mineral occurrences on the Diablillos property with the Fantasma zone located 800 meters to the west. These results from the shallower Fantasma zone are important, as we expect a maiden resource to be included in the pending PEA, likely providing lower pre-strip than the deeper Oculto deposit. read more


Friday, October 20, 2017 Derek Macpherson

Orford Site Visit: High Discovery Potential on a Regional Scale Land Package

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This summer we had the opportunity to visit Orford Mining Corp.’s Qiqavik gold property located in northern Quebec. Orford Mining Corp is to be formed following the completion of the amalgamation between True North Nickel Inc. and Focused Capital Corp. The company is expected to begin trading shortly. We were impressed with the level of work completed to date and believe the company is well positioned to make a discovery on its regional scale land package. As well, the company has been active during this summers field season, including 2,723m of drilling, which should provide steady news flow towards the end of the year once the company begins trading. Finally, Orford has been able to attract a strong management and technical team, which should have them well positioned to advance Qiqavik.    read more


Thursday, October 19, 2017 Derek Macpherson

RCKS Charts: FM, KL, RIC, TECK, KDX and NVO

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In this edition of RCKS Charts, Keith has evaluated First Quantum Minerals Ltd. (TSX:FM), Kirkland Lake Gold Ltd. (TSX:KL), Richmont Mines Inc. (TSX:RIC), Teck Resources Ltd. (TSX: TECK.A and TECK.B, NYSE:TECK), Klondex Mines Ltd. (TSX: KDX), Novo Resources Corp. (TSXV:NVO).  read more


Wednesday, October 18, 2017 Derek Macpherson

GQC Continues to Expand Cachimbo

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GoldQuest Mining Corp. (TSXV:GQC) has reported assay results for 8 drill holes from its recently discovered Cachimbo deposit. Results were highlighted by hole TIR-17-44 which returned 21.0 m at 7.86 g/t Au, 39.6 g/t Ag, 0.17% Cu and 1.81% Zn (10 g/t AuEq) within a wider interval of 59.5 m at 3.27 g/t Au, 18.94 g/t Ag, 0.07% Cu and 0.73% Zn (4.4 g/t AuEq). These results continue to grow the deposit (Figure 1) and we believe this has the potential to be a second significant deposit within the company’s district scale Tireo project. GoldQuest currently trades approximately at a slight discount to peers at $26/oz (peers $32/oz). We continue to believe that the current valuation does not reflect the exploration potential of GoldQuest’s wider land package. We expect continued exploration drilling, along with permitting updates at Romero to likely be important catalysts for the stock.  read more


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