Corvus Gold Expands Mother Lode Main Zone & New CIZ Zone; Weekly Financing News from Oreninc
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Tuesday, January 14th.
Sunday night greeted gold with a series of two flash crashes ahead of the start of trading in Asia. Gold had one big move lower after India closed but experienced a "V" move higher going into and after the London a.m. fix and the commencement of Comex floor trading. Shortly after the NYSE spiked higher and the the stock market began to soar again, gold was systematically taken lower in price through the NYSE close and even lower early in evening Comex Globex computer trading. Silver, which managed to cling to to $18 all day Monday, is down 21 cents in early evening Monday trading. The Mining Stock Journal commented that the action in both the stock market and the precious metals market has official intervention footprints all over it. The gold stock newsletter further elaborated that the official intervention reeks of desperation and will likely lead to a big move higher in the precious metals sector. In that regard, the Hulbert Gold Newsletter Sentiment Index is at its lowest level since December 20th, when gold was trading at $1477.
We’ll get to the news out of the miners and explorers here in just a quick moment, but first a quick mention of today’s sponsor.
This episode of Mining Stock Daily is brought to you by... Corvus Gold. Corvus is an advanced gold-silver exploration and development company focused on the North Bullfrog and Mother Lode Projects in Nevada. The company has been named a Top Five TSX gold equity performer Four of the last Seven years & a multi time top 50 OTCQX performer. Corvus Gold trades on the Toronto Stock Exchange with the symbol KOR and on the OTCQX with CORVF. Follow all the news form Corvus and its two-mine projects with fast-tracked potential via the company's website, corvusgold.com.
And here’s what you need to know today from the junior mining sector:
And speaking of Corvus Gold, the company releases assay results from its Phase 4 motherlode resources expansion drill program. Those results include 1.79 g/t gold over 36.6 meters and 2.43 g/t gold over another 36.6 meters. In addition, results continue to be returned from the newly discovered Central Intrusive Zone. Assays returned 1.6 g/t gold over 41.2 meters. The company says the initial Phase-4 holes in the CIZ target continue to outline a significant area that Corvus believes has potential for high-grade oxide mineralization immediately below the known Mother Lode deposit.
The Oregon Water Resources Department has granted a water permit to Paramount Gold Nevada for its Grassy Mountain Gold Mine and processing facilities in Eastern Oregon. This is the first Oregon State Agency permit issued as part of the consolidated permitting process initiated by Paramount in 2019. This Permit provides sufficient water for the proposed mining and processing operations throughout the mine life. Paramount Gold trades on the NYSE with the symbol PZG. News Release
Last night, Osino Resources announced an overnight marketed equity financing. The Offering will be conducted through a syndicate of agents led by Cormark Securities. Each Unit will consist of one common share in the capital of the Company and one-half of one common share purchase warrant. The size and pricing of the Offering will be determined in the context of the market at the time of entering into a definitive underwriting agreement between the Company and the Agents. The deal is expected to close at the end of this month. Osino trades on the TSX Venture with OSI and on the OTC markets with OSIFF. News Release
Now, for more commentary on the recent financings in the sector, lets turn to our friend Kai Hoffman from Oreninc.
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In production news, Largo Resources say a strong Q4 helped push its full year production into the midpoint of guidance, producing a total of 10 and a half thousand tonnes of vanadium; this is an 8% increase over the previous year.
Calibre Mining says it Delivered on guidance at both El Limon and La Libertad with consolidated production of 33 and a half thousand ounces of gold.
And Roxgold appeared to have missed its low end guidance number of 145 thousand ounces this year, despite a record quarterly production of over 41 thousand ounces. The company says the miss in guidance was due to the timing of minnig high grades stopes in December.
That is a wrap from us today here at Mining Stock Daily. Thanks again for tuning in. If you are planning on visiting the Roundup Conference next week, be sure to find the Mining Stock Daily booth on Tuesday and Wednesday of the show located in the hallway leading into the exhibition hall. I’ll be there conducting interviews and chatting with others in attendance. Remember, you can find this show on a number of different podcast networks, including iTunes, Spotify, Google Podcast and even Amazon Alexa. And if you haven’t done so already, please be sure to hit that subscribe button on your device so you don’t miss any of the briefings or our interviews.
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