Major Gold Producers Beginning to Show Q3 Earnings with Bull Market Results
Welcome back to Mining Stock Daily! After a short hiatus from the news briefing, we have returned to the regular programing and have lots of news to catch up on. Lets get started.
Welcome to Mining Stock Daily.
Today is Thursday, October 24th.
This is Trevor Hall and I welcome you to today’s briefing.
The price of gold over the several days has oscillated laterally in a trading that, technically, could break either up or down. The RSI and MACD momentum indicators reflect an oversold condition which would suggest a great probability of an upside breakout from coiling chart pattern. The gold/silver ratio has been trending lowersince since early October, which further confirms that the probability is skewed in favor of an in the precious metals. The Mining Stock Journal noted that the mining stocks have underperformed gold since early September. However, the large cap producers will show significant improvement in comparable quarter year over year earnings over the next few weeks, which could light a fire under the mining stock.
Today's episode of Mining Stock Daily brought to you by the Association for Mineral Exploration British Columbia. AME advocates for and promotes a healthy business environment for its members working in mineral exploration through advocacy and leadership. AME is proud to support Mining Stock Daily as the organization leads up to January's much-anticipated Roundup Conference taking place in Vancouver, BC January 20th through the 23rd. More information about AME and the Roundup Conference can be found online at amebc.ca.
Here’s what you need to know today out of the junior resource sector.
We seen production and financial numbers from last quarter starting to be released. It is noted that this quarter saw precious metals prices on the rise. Confirming the Mining Stock Journal’s robust quarterly earnings results for precious metals mining companies, Agnico Eagle reported Q3 numbers on Wednesday. Revenues increased year over year 31% in Q3 vs 2018. Net income soared 450%. Cash flow from operating activities soared 254% while earnings per share quadrupled. Agnico Eagle's shares trade under AEM in the U.S. and on the TSX. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1060-tsx/aem/68735-agnico-eagle-reports-third-quarter-2019-results-record-quarterly-gold-production-amaruq-declares-commercial-production-free-cash-flow-generation-drives-40-increase-in-dividend-exploration-drilling-continues-to-advance-minesite-and-pipeline-projects.html
Great Bear Resources announced today it intends to create and spin-out a 2% Net Smelter Royalty on any potential future mineral production at the Dixie property in Ontario. The NSR will initially be placed in a wholly-owned subsidiary. Great Bear says its intention is for the shares of the SpinCo to be distributed to the shareholders of Great Bear at a time to be determined by the Board of Directors. Common shares of the SpinCo will be distributed to shareholders of Great Bear on a pro rata basis. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1467-tsx-venture/gbr/68753-great-bear-to-spin-out-net-smelter-royalty-to-shareholders.html
Tudor Gold announced the completion of its 2019 exploration program at the Goldstorm Zone on the company’s Treat Creek property. Drill highlights were reported today and included 2 g/t gold over 87 meters within a 336 meter interval averaging just over 1 g/t gold. The company is also quoted saying they are seeing consistent silver and copper mineralization associated with the deeper gold horizons. The Goldstorm Zone remains open at depth. Tudor Gold trades on the TSX Venture with the symbol TUD and on the OTC market with TDRRF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1960-tsx-venture/tud/68747-tudor-gold-intersects-2-006-g-t-gold-over-87-meters-with-a-near-surface-intercept-of-1-004-g-t-gold-over-336-meters-in-drill-hole-gs19-52-and-drills-826-5-meters-of-0-696-g-t-gold-with-drill-hole-gss19-49-in-the-goldstorm-zone-at-treaty-creek.html
Barrian Mining announced yesterday it had intersected two high-grade gold zones in recently completed drill hole #4 on the Bolo project in Nevada. These results included 2.1 g/t gold over 36.6 meters and a lower gold zone of 3.32 g/t gold over 12.2 meters. The upper and lower zones occur within a broader envelope of mineralization averaging 1.19 g/t gold over 122 meters starting at 79 metres down hole. Eight more holes are still pending results. We will be sure to share those results here on the briefing if assays returned are substantial. Barrian trade son the Venture with BARI and on the OTC markets with BARRF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2695-tsx-venture/bari/68725-barrian-mining-makes-new-gold-discovery-and-intersects-122-metres-of-1-19-g-t-gold-oxide-with-the-hole-ending-in-mineralization.html
Corvus Gold shared assay results from the follow up holes at the Cat Hill target on the North Bullfrog property in Nevada. The company says the results define a new veing and stockwork gold system on the property. Results included 1.02 g/t gold oer 21.3 meters, confirming a north-south trend for this shallow vein system related mineralization with improving grades along strike. The system is open in all directions and Corvus believes it may have potential to develop into another YellowJacket or Bullfrog. Corvus trades on the TSX with the symbol KOR and on the OTC markets with CORVF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1084-tsx/kor/68696-corvus-gold-makes-new-vein-system-discovery-at-cat-hill-north-bullfrog-project-nevada.html
That is a wrap for me today. Thank you again for tuning into Mining Stock Daily. Please take a moment to visit miningstockdaily.com where you will find a full list of our sponsors including past interviews and transcripts. For any inquiries regarding the show, you are always welcome to drop me an email at trevor@clearcreekdigital.com.
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Have a wonderful day. Be well.