Trilogy Metals Feasibility Study Shows NPV of $1.8-Billion
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Thursday August 20th
Gold was given a $60 joy-ride down from the overnight high while silver was brow-beat with a billy club for $1.30. The beat down predictably began about an hour after the Comex opened and was concurrent with the start of trading on the NYSE Wednesday. Moreover, it occured in the complete absence of any news that would have precipitated the heavy dumping of Comex paper contracts onto the market. The mining stocks were bludgeoned for 3.8% using GDX as a proxy, though some junior micro cap stocks were sheared for anywhere between 5 to 20 percent. The Mining Stock Journal said that it's no coincidence the beat down on the precious metals sector went into operation about 3 1/2 hours before the Fed minutes from the last FOMC meeting were released. The newsletter added that it's possible the Fed is teeing up another round of money printing, which is often preceded by an extreme effort to push the price of gold and silver lower. On another note, the Mining Stock Journal's next issue will be released after the stock market closes today. It will have updates on portfolio companies as well as advice on using call options on large cap miners plus a brief review and opinion on the merger between Auryn Resources and Eastmain Resources. Go to InvestmentResearchDynamics.com to learn more about the Mining Stock Journal.
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… Rio2.
Rio2 is advancing the Fenix Gold Project in Chile, the largest undeveloped gold heap leach project in the Americas. Fenix consists of 5 million ounces in the measured and indicated resource category and 1.4 million ounces in the inferred resource category. With a robust PFS in place, Fenix is set up for fast-tracked construction and production. You can find a list of project and company information on their website, rio2.com.
And here’s what you need to know this morning…
Rupert Resources shared new drill results from its ongoing exploration programme at the 100% owned Pahtavaara Project in the Central Lapland Greenstone Belt, Finland. These are follow up holes from the recent Ikkari discovery. Assays returned 2.1 g/t gold over 31 meters, 2 g/t gold over 71.2 meters and 1.3 g/t gold over 174 meters. These initial holes represent just 1200m of the planned 50,000m regional programme. he mineralised envelope of the system remains open in all directions and further results will be released as they become available in the weeks ahead. Rupert Resources trades on the TSX Venture with RUP. News Release
Nighthawk Gold shared 2 drill results from the Colomac Main Sill portion of the Colomac Gold Project. The company says the hole from Zone 3.5 intersected three well mineralized areas, including 3.89 g/t gold over 33.25 meters. At Zone 1.5, drilling returned 1.28 g/t gold over 63.25 meters. Nighthawk commenced its 2020 exploration program on March 13 with three drills on a planned 25,000-metre drill program. It is proposed that with 50,000 metres to 75,000 metres of additional drilling within the Exploration Target there exists the potential to add up to 1.50 million ounces of gold to the current resource at grades between 1.8 gpt Au and 2.0 gpt Au. The Company sees this as its best opportunity to quickly and efficiently advance Colomac. Nighthawk trades on the TSX with NHK and on the OTCQX with MIMZD. News Release
Clean Air Metals shared results of new step-out drill results this morning from the company’s Thunder Bay North Project. Those results were highlighted by 1.22 g/t Platinum, 1.63 g/t Palladium, .61% copper and .34% nickel over 96 meters. Clean Air Metals trades on the TSX Venture with AIR and on the OTCQB with CLRMF. News Release
And now, lets turn it back over to our friend Kai Hoffman for this week’s Oreninc Weekly
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Integra Resources says it has signed a Memorandum of Understanding with the United States Bureau of Land Management to facilitate the hiring of a dedicated mineral specialist in the Marsing, Idaho BLM office that will oversee future permitting work for the DeLamar Gold-Silver Project. In accordance with the MOU, Integra will reimburse the BLM for the costs of a dedicated mineral specialist project manager in the Marsing BLM office, who shall remain at all times independent of the Company. This BLM project manager responsible for the DeLamar Project permitting work will help the BLM manage increased workloads from current and anticipated future applications for mineral notices, operations plans/amendment approvals and environmental analyses resulting from the DeLamar Project. This funding effort is intended to increase the capacity of the local BLM office to work on DeLamar Project related applications and project requests on a priority basis, while not burdening the BLM with the cost of this increased workload. Integra trades on the TSX Venture with ITR and on the NYSE American with ITRG. News Release
VanGold Mining announced it has signed an option agreement to re-purchase three underlying royalties on its El Pinguico silver and gold project located 7 kms south of Guanajuato, Mexico. In order to exercise the option, the Company will pay C$1,680,000 cash and issue 3,750,000 units of VanGold to the original vendor of the property. VanGold has until December 31, 2020 to exercise the Option. VanGold trades on the TSX Venture with VGLD and on the OTC with VGDLF. News Release
Trilogy Metals released results of its Feasibility Study for the Arctic Copper-Zinc-Lead-Silver-Gold Project in the Ambler mining district of Alaska. Highlights of the study included a pre-tax net present value of $1.6 billion and an internal rate of return of 31% for the base case. At current metal prices, the company says the NPV increases to $1.8 billion and an IRR of over 33%. Total capex for the project is $1.2 billion according to the study. Total life of mine 12-year production is projected at 1.9 billion pounds of copper, 2.3 billion pounds of zinc, 388 million pounds of lead, 386 thousand ounces of gold and 40.6 million ounces of silver. Trilogy trades on the TSX and the NYSE American with TMQ. News Release
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I’m Trevor Hall. Have a wonderful day. Be well.
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