Summary of Earnings from Premier Gold a K92 Mining

Before we get started today, I just wanted to give a quick mention and shoutout to my pal, Dave Kranzler over at Investment Research Dynamics. Dave as been a tremendous person for support and scripting for this briefing since day one. He’s one of the smartest people I know. His Mining Stock Journal bi-monthly newsletter is still only $20 a month and I would encourage you to check that out for investment ideas and company updates from this sector. Just visit investmentresearchdynamics.com for that information. Now, on with the briefing. 

Welcome to Mining Stock Daily. 

Today is Wednesday, November 13 th. 

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

Gold shrugged off a price attack that started early in the morning on Tuesday and took the December future contract down to $1446 by mid-morning. Gold shrugged of the selling and bounced sharply to as high at $1461 before settling around $1457. The Mining Stock Journal noted that India was closed Tuesday and the absence of Indian physical gold demand facilitated a raid in the paper market. The newsletter noted that the gold chart is dangling between its 50 and 200 day moving averages but that the momentum indicators show that gold is deeply oversold. Silver has fallen more than gold, with the gold silver ratio shooting back over 87.

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.

And here’s what you need to know today out of the junior sector.

K92 shared their Q3 2019 production and earnings yesterday. The company states gold equivalent production for the three months exceeded budget by 14% and also represents a significant increase of 93% from the same quarter last year. All-in sustaining costs were established at $709 per ounce of gold in the quarter. And important to note, the company has upgraded their annual guidance up to 80,000 ounces of gold by year’s end. K92 Mining trades on the TSX Venture with KNT and on the OTC markets with KNTNF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1954-tsx-venture/knt/69617-k92-mining-inc-releases-2019-q3-financial-results.html

Premier Gold shared their Q3 2019 production and earnings numbers this morning. Both gold and silver production in the quarter were down compared to the same quarter last year. Although total revenue reached more than $18-million, the company’s mine operations ran a deficit of $.4-million. Premier says the decrease in production is due primarily to lower than predicted grades realised in certain production stopes at the Mercedes Mines along with some operational challenges and the discovery of a large natural void that removes ounces from the mine plan. The company closed the quarter with cash and cash equivalents of more than $33-million. Premier trades on the TSX with the symbol PG and on the OTC markets with PIRGF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/1309-tsx/pg/69623-premier-gold-mines-reports-q3-2019-results.html

Juggernaut Exploration said it has entered into two earn-in option agreements to fund inaugural drill program on the Mack and Jake porphyry copper-gold-molybdenum deposit targets in the Gold Triangle. Both are owned by United Mineral Services which is a Hunter Dickinson Inc affiliate. Under the agreement, the two will create an exploration alliance and the Hunter Dickinson team will operate the two projects. Previous Hunter Dickinson discoveries and developments included Pebble and Mount Milligan. The agreement shows a $1-million, 2,000 m drill program to be completed through October of 2021 for each project. Juggernaut Exploration trades on the Toronto Venture Exchange with the symbol JUGR and on the US OTC markets with JUGRF. https://www.juniorminingnetwork.com/junior-miner-news/press-releases/2376-tsx-venture/jugr/69633-juggernaut-options-large-scale-copper-gold-deposit-targets-and-forms-exploration-alliance-with-hunter-dickinson-inc.html

In other earnings out today, Condor Gold, Golden Minerals, Jaguar Mining, Horizonte Minerals all published Q3 numbers early this morning. 

And that’s it for today on Mining Stock Daily. Please be sure to take a quick moment to subscribe to this podcast if you have not already. And while doing so, feel free to leave a review. I greatly appreciate your feedback. As we approach the end of the  year, I’ll be focusing on new ways to improve the show. So your feedback if very important to us. 

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