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Monday, June 19, 2017 Derek Macpherson

TK Site Visit: Just Scratching the Surface of Ayawilca's Potential

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Last week we had the opportunity to visit Tinka Resources Ltd’s (TSXV:TK) wholly owned Ayawilca zinc project, in central Peru. Although still early days, we were impressed by recent drilling success at South Ayawilca, Tinka’s first foray outside of the Ayawilca Zinc Zone, which hosts an Inferred Resource of 18.8Mt at 8.2% ZnEq. Given there are several other coincident geochemical and geophysical targets to be tested on this 15,000 Ha property, we expect Tinka to continue to expand resources and believe potential exists for the discovery of another zone. read more


Thursday, June 15, 2017 Derek Macpherson

RPX Intersects Minto Mine Structure Near Parkhill

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Red Pine Exploration Inc. (TSXV:RPX) reported additional results from its ongoing 20,000m drill program at its Wawa Gold Project property. Results targeted the former Parkhill Mine area, successfully intersecting the Minto Mine Structure 1km south of the Minto Mine (Hole PH-17-71), confirming gold mineralization in the Structure. Further assays are pending, which we expect will continue to highlight the company’s resource growth potential in the Minto Mine Structure and surrounding areas. Red Pine currently trades at a steep discount to peers (C$38/oz vs. peers at C$64/oz), which does not appear to reflect the current deposit or its significant growth potential. We believe that as Red Pine continues to demonstrate the potential of the Wawa Gold Project through its ongoing exploration program, it should close the valuation gap to peers. read more


Thursday, June 15, 2017 Derek Macpherson

ANX Reports Strong End to 2017

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Anaconda Mining Inc. (TSX:ANX) reported financials and production results for FQ4 2017 and FYE 2017. During the quarter, although experiencing difficult weather conditions, the company sold a record amount of gold, 4,658 oz, marking a strong finish to the year. Revised guidance expectations were met, selling 15,562 oz Au for FYE 2017, generating C$25.7 million in revenue. In addition, the Orex Exploration Inc. acquisition was completed, creating significant value and growth opportunities for the company, which we believe is not reflected in the company’s current valuation. read more


Wednesday, June 14, 2017 Derek Macpherson

NVO Reports Strong Initial 2017 Exploration Results

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Novo Resources Corp. (TSXV:NVO) reported initial results from its ongoing 2017 exploration program at its Beatons Creek gold project in Western Australia. Bulk samples were collected from 276 trenches, highlighted by 10.29 g/t Au over 0.8m (BCC17-011), 19.40 g/t Au over 0.5m (BCC17-094) and 17.66 g/t Au over 1.0m Au (BCC17-177), and 23.62 g/t Au over 0.6m (BCC17-184). In addition, certain results from the long trenches intersected wider mineralization, as highlighted by 1.41 g/t Au over 5.0m (BCC17-255), 1.60 g/t Au over 5.0m (BCC17-258), 3.52 g/t Au over 3.7m (BCC17-275) and 2.07 g/t Au over 6.0m (BCC17-276). Initial results are promising and support growth potential, as they have expanded oxide mineralization to the east and suggest the possibility of bulk mineralization at the project. Novo trades at C$155/oz a premium to peers (C$83/oz), which is justified both on the project’s potential for significant resource growth and likely low operating and capital costs. read more


Wednesday, June 14, 2017 Derek Macpherson

RCKS Montreal Mining Conference Presenter Preview

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On Thursday, June 22, 2017, Red Cloud Klondike Strike Inc. will be hosting its 2nd Montreal Mining Conference. The event features presentations from 7 companies, including lunch presentations from Chris Bradbrook discussing gold and industry outlook followed by a presentation from Osisko Mining Inc. Visit the event page for more details on the day’s schedule. In this post, we provide a brief preview on the 7 presenting companies.  read more


Tuesday, June 13, 2017 Derek Macpherson

Ascot Drilling Continues to Highlight Scale Potential

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Ascot Resources Ltd. (TSXV:AOT) reported drill results from 22 holes of the 112 completed to date from its 2017 exploration program underway at its Premier property in British Columbia. Results from the Northern Lights Main zone returned 1135.00 g/t Au over 0.50m within a wider interval (Hole P17-1269) and 84.2 g/t Au over 1.50m within a wider interval (Hole P17-1271). Recent drilling has extended the zone 200m up-dip, which remains open in all directions as the company continues to test and expand the central area. In addition, results from the 602 zone were highlighted by 17.60 g/t Au over 2.00m within a wider interval (Hole P17-1278). The company noted, based on internal modelling it is reviewing the appropriate mining method for Premier, underground, open-pit or a combination of both. Results continue to highlight the potential for a large high-grade underground resource (2-3 million oz Au) at the past producing Premier mine, which implies a current valuation of C$82-123/oz, a premium to peers at C$68/oz, this is likely warranted because of the high-grades, existing infrastructure and other resources. We note that based on the current lower-grade resource Ascot trades at a discount to peers (C$55/oz). Based on Ascot’s cash position at the end of 2016 (C$29.1 million), the company appears to be well-financed for its planned exploration and remaining option payment of C$6.85 million (due June 2017). We expect additional results from the ongoing drill program to demonstrate the projects large-scale potential. read more


Tuesday, June 13, 2017 Derek Macpherson

RPX Hits More VG at the Wawa Gold Project; Results Pending

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Red Pine Exploration Inc. (TSXV:RPX) announced results from two drill holes completed as a part of its ongoing 20,000m drill program at its Wawa Gold Project property. Hole SD-17-73 intersected 19.92 g/t Au over 3m over a wider interval and Hole SD-17-74 intersected 4.75 g/t Au over 3m in the Minto Mine South Zone. 13 boreholes over a 250m x 120m area were drilled in the southern extension of the Minto Mine Structure of which 12 of the boreholes intersected visible gold. Results highlight Red Pine’s growth potential from its larger land package, the company continues to test the area and more drill results are pending. Red Pine currently trades at a steep discount to peers (C$36/oz vs. peers at C$64/oz), which does not appear to reflect the current deposit or its significant growth potential. We believe that as Red Pine continues to demonstrate the potential of the Wawa Gold Project through its ongoing exploration program, it should close the valuation gap to peers. read more


Tuesday, June 13, 2017 Derek Macpherson

MTA Adds Another Cash Flowing Stream, Plus 3 Royalties

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Metalla Royalty & Streaming Ltd. (CSE:MTA) has entered into a Share and Asset Purchase Agreement with Coeur Mining Inc. (NYSE:CDE) to acquire a portfolio of three royalties and one stream. Adding a second cash flowing stream to the company’s portfolio and significantly increasing its cash flow both in the near and medium term. The transaction is a combination of shares and a convertible debenture, valued at US$13 million, whereby Coeur will own 19.9% of Metalla, with the balance of the value held in a convertible debenture. We view the transaction as a significant growth opportunity for Metalla and believe it now trades at a significant discount to other royalty and streaming peers. As well, we believe this highlights Metalla’s ability to accretively grow its portfolio, versus its larger peers. read more


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