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Thursday, November 17, 2016 Derek Macpherson

Initial Holes from IDM’s Lost Valley Warrant Follow-up

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IDM Mining Ltd (TSXV:IDM) released drill results from 11 holes at its Red Mountain project in British Columbia, including the five initial holes drilled at the Lost Valley zone and five surface holes drilled at the 141 zone. Results from Lost Valley were highlighted by 1.2 m of 4.63 g/t Au and 90.9 g/t Ag (LV-16-02) and the surface drill holes targeting the 141 zone were highlighted by 1.29 g/t Au and 1.31 g/t Ag over 54.0m which included 4.62 g/t Au and 1.02 g/t Ag over 7.0m (MC16-06). Results from both areas are encouraging but at this point have not demonstrated sufficient potential to alter project economics. We expect the company to continue exploring at the zones during the 2017 field season. We believe that ongoing drill results, both infill and step out, along with continued project de-risking should be positive catalysts for the stock which continues to trade at a discount to peers on a NAVPS basis.  read more


Wednesday, November 02, 2016 Derek Macpherson

Additional IDM Drill Results Support Resource Grades

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IDM Mining Ltd (TSXV:IDM) released drill results from 10 infill holes at its Red Mountain project in British Columbia. Overall, the results, which primarily consisted of infill drilling, were roughly in line with the project’s resource grades. In our view, the results continue to demonstrate Red Mountain’s resource potential and demonstrate the project’s high grades over good widths. We believe that ongoing drill results, both infill and step out along with continued project de-risking should be positive catalysts for the stock which continues to trade at a discount to peers on a NAVPS basis. read more


Tuesday, October 04, 2016 Derek Macpherson

RCKS Fall Mining Showcase Presenter Preview

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On Thursday October 6th, Red Cloud Klondike Strike Inc. will be hosting its 4th Annual Fall Mining Showcase. The event, that will offer attendees the opportunity to meet with a number of companies, features presentations from 20 companies and a buy-side discussion panel comprised of three of the industry’s most influential fund managers. Visit the event page for more details on the day’s schedule. In this post we provide a brief preview on the 20 presenting companies and 8 banner sponsors that will also be in attendance.  read more


Tuesday, September 06, 2016 Derek Macpherson

IDM Discovers Another Near Infrastructure Zone

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IDM Mining Ltd (TSXV:IDM) released drill results from 13 holes from its ongoing infill and expansion drill program at its Red Mountain project in British Columbia. Overall, the holes continue to demonstrate higher grades over good widths. We group these results into three categories: 1) Discovery of the NK zone which has the potential to add mine life (1 hole), 2) Marc zone continues to extend to the south, also adding mine life (9 holes) and 3) infill results remind us about the existing grades and widths (3 holes). In our view, the potential to extend Red Mountain’s mine life through the drill bit is not reflected in IDM’s share price as IDM continues to trade at a discount to peers. We believe that as the company continues to de-risk the project and demonstrate the projects exploration upside it should re-rate.
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Sunday, August 28, 2016 Derek Macpherson

IDM Site Visit Highlighted by Exploration Potential

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This past week we visited IDM Mining Ltd’s (TSXV:IDM) Red Mountain project in British Columbia. While it appears the company is on-track to make its final permit submission and deliver a feasibility study early next year, the highlight of the trip is the exploration potential both near-mine and regionally. In our view, this potential for resource growth is not incorporated in IDM’s current valuation. As well, the underground tour suggests the existing underground infrastructure is in decent condition and that ground conditions appear to be good. 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.  read more


Tuesday, August 16, 2016 Derek Macpherson

IDM’s Splashy Drill Results Highlight Potential

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IDM Mining Ltd. (TSXV:IDM) released drill results from the first four holes of its underground drill program at Red Mountain. Results from the Marc zone were highlighted by 20.66m of 6.48 g/t Au and 33.58 g/t Ag (U16-1177) and 20.35m of 9.24 g/t Au and 49.73 g/t Ag (U16-1178). As well, hole U16-1182 (6.3m of 9.91 g/t Au and 53.52 g/t Ag) appears to have the potential to extend the Marc zone to the South beneath the existing decline. IDM continues to trade at a discount to peers on a NAV basis and we believe the combination of infill drilling, regional exploration work, and metallurgical testing should all benefit project economics and provide important catalysts for the stock, potentially closing the valuation gap to peers.
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Tuesday, July 19, 2016 Derek Macpherson

Regional Surface Work Highlights IDM’s Exploration Potential

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IDM Mining Ltd. (TSXV:IDM) has released surface mapping and sampling results from its ongoing regional program. The results highlighted the potential of the Lost Valley Prospect and the identification of the Waterfall Prospect. In our view, these results point to the exploration potential at IDM’s Red Mountain project, and while early days, suggest that the mine-life may extend beyond the five years outlined in the PEA. We believe that as IDM continues to de-risk, the current project, and demonstrate the potential for mine-life extension it should re-rate towards peers.
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Tuesday, July 12, 2016 Derek Macpherson

IDM Releases Updated PEA

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IDM Mining Ltd. (TSXV:IDM) has released the updated PEA from the Red Mountain project which highlighted the strong economics of the project. As discussed in our preview last week the updated PEA resulted in a higher production rate and improved economics; however, the mine-life did not extend beyond the current five years and capex came in much higher than expected. Taking this into account, along with the exploration upside and potential for recovery improvements we view the updated PEA as a mild positive for IDM as they continue to de-risk the Red Mountain project.
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