Exploration Results from Radisson Mining & Prophecy Development; Palladium One Financing

Before we get started today, I wanted to mention that Miningstockdaily.com is now up and running with a growing list of past interviews and news briefings. In the website you will also find transcripts of the content and a list of all our sponsors who support this briefing. More to come with the website in the coming weeks and months. And now, lets bring you the news out of the mineral exploratin and mining sector. 

Welcome to Mining Stock Daily. 

Today is Tuesday, October 29th. 

This is Trevor Hall and I welcome you to today’s briefing. 

The price of gold on Monday was taken below $1500, with $11 removed from its value after the Comex pit session opened on Monday morning. The Mining Stock Journal said that Monday was the options expiration date for November gold and there was a large open interest in call options on November gold at $1500 that would expire worthless if the Comex market makers could pin the price of gold below $1500 and close of Comex floor trading on Monday. The newsletter added that it's typical more often than not for gold to be pounded lower in the paper market on an options expiration date. Nothwithdstanding that, from a chart perspective, gold appears to be set-up for a big move higher. Silver managed to close just above its 50 day moving average and the gold/silver ratio declined again on Monday, which is bullish.

Today's episode of Mining Stock Daily brought to you by Pacific Empire Minerals. 

Pacific Empire Minerals Corp. is a junior exploration company focused on the discovery of gold-rich copper deposits in British Columbia, Canada. Pacific Empire trades on the TSX Venture Exchange under the symbol PEMC and on the OTCQB markets under the symbol PEMSF. The Company currently has a very tight share structure. Pacific Empires’ unique approach to the prospect generator business model incorporates the Company’s own reverse circulation drill to advance projects beyond that of typical prospect generators. More information on Pacific Empire can be found at pemcorp.ca.

Here’s what you need to know today out of the junior resource sector. 

Radisson Mining Resources today announced drilling results from the 20,000 meter exploratin drill program underway at its O’Brien gold project in the Larder-Lake-Cadillac Break in Quebec. Today’s assays returned 66.71 g/t gold over 4.7 meters, which was drilled 300 meters below the deepest known mineralization on the zone. 2 drill rigs are active at O’Brien and assays are currently pending for 3,350 m of drilling. The company did note in this morning’s press release that they do have $5.5 million dollars in cash to fully fund this program. Radison trades on the Venture exchange with RDS and on the OTC markets with RMRDF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/566-tsx-venture/rds/68927-radisson-intersects-66-71-g-t-gold-over-4-70-m-300-m-below-deepest-level-of-current-resources-at-o-brien.html

Yesterday, Prophecy Development announced diamond drilling results from their Paca silver project in the Potosi department of Bolivia. Borhole 110 intersected 378 g/t silver equivalent over 89 meters, which included 1,085 g/t silver over a 12 meter interval. This represents the highest silver width-grade intercept at the Paca project to date for the company. This, and the other drill results reported in its Phase I results, are anticipated to increase the overall tonnage and upgrade the confidence level of the current NI 43-101 compliant resource estimate. Prophecy trades on the TSX with the symbol PCY and on the OTC markets with PRPCF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/693-tsx/pcy/68885-prophecy-drills-89-meters-grading-279-g-t-ag-1-28-zn-and-1-17-pb-including-12-meters-grading-1-085-g-t-ag-starting-16-meters-downhole-at-its-paca-silver-project-in-bolivia.html

 Alacer Gold Corp filed their financial report for Q3 2019 this morning. The company says year to date gold production reached just over 290-thousand ounces at a consolidated all in sustaining cost of $714 per ounce. These results have resulted in $138 million in free cash flow generation and a reduction in the company’s net debt to $110 million. Alacer says oxide plant gold production guidance range has increased to 150,000 – 160,000 ounces for the remainder of the year, which is a positive result from stacking ore from the ongoing in-pit exploration and better than predicted outcomes form the blended ore program. Alacer trades on the TSX with the symbol ASR and on the ASX with AQG. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/830-tsx/asr/68931-alacer-gold-announces-third-quarter-2019-operating-and-financial-results-with-normalized-earnings-per-share-of-0-12-and-increased-oxide-production-guidance.html

Late Yesterday, Palladium One Mining announced it will undertake a non-brokered private placement offering of up to 53 million units at a price of $.06 (CAN) for gross proceeds of up to $3.2 million. The company said Eric Sprott is expected to participate in the offering in an amount equivalent to a 19.9% non-diluted ownership interest in the issued and outstanding common shares of the company. Each unit will consist of one common share and one-half of one share purchase warrant. Palladium One trades on the TSX Venture with the symbol PDM.https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1909-tsx-venture/pdm/68915-palladium-one-announces-a-c-3-2-million-non-brokered-private-placement-as-palladium-prices-reach-record-high-of-us-1-808-per-ounce.html

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