Treasury Metals Drilling Results from Goliath; Minera Alamos Closes Financing
Welcome to Mining Stock Daily. This is your host, Trevor Hall
Today is Wednesday, January 9th.
After getting punched in the mouth on Thursday by interventionist forces, the price of gold jumped $22 from Thursday's low of $1541 to close out Friday at $1563. Silver soared back over $18 to close Friday at $18.13 The mining stocks also bounced Friday, with the HUI index and the GDX both closing back over their 21 day moving average. The Mining Stock Journal commented that, from a pure technical standpoint, the charts of the various mining stock indices are quite bullish. Notwithstanding that, with the Fed poised to print as much money as necessary to prevent a banking system collapse, gold and silver - relative to the underlying fundamental factors, are cheaper now than when the secular bull market in precious metals began in late 2000/early 2001.
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.
Today’s episode of Mining Stock Daily is brought to you by Integra Resources. Integra Resources trades on the TSX-V under ITR and the OTCQX under IRRZF. Integra Resource is advancing its past producing DeLamar (DeL - a - Marr ) Gold-Silver project in SW Idaho through aggressive drilling and exploration. The latest Resources Estimate released earlier this summer showed approximately 4 million Gold equivalent ounces in the measured and indicated category.The maiden PEA for the project established a net present value of C$473-million and an IRR of 43%. The management of Integra successfully sold its previous brownfields project for C$590 million in summer 2017. Read more about the company and its successful management team at integraresources.com.
Treasury Metals shared assay results from the initial nine holes of its 15,000 metre exploration program, including results from the Eastern C Zone and Main Zone targets at the Company's flagship Goliath Gold Project located in northwestern Ontario. Highlights of the results included 7.4 g/t gold over 6.3 meters on the main zone and 14.8 g/t gold over 7 meters at the Eastern C Zone. The company says additional drilling of the Main Zone shows high potential for upgrading of the current Goliath Gold Project's mineral resources. Two drills remain on site to complete the C Zone infill program and will continue to focus on the Eastern area of the Main Zone. Treasury Metals trades on the TSX with the symbol TML and on the OTC markets with TSRMF. News Release
Minera Alamos has closed its private placement with Osisko Gold Royalties announced in early December, consisting of 30 million shares with aggregate gross proceeds of $6 million. As a result of the Offering, Osisko has increased its shareholdings of the Company's Common Shares from 12.3% to 18.7%. Minera Alamos is advancing the Santana and La Fortuna projects in Mexico. Construction at Santana has begun with expected production beginning later in 2020. A NI 43-101 is expected for the project later this quarter as well. Minera trades on the TSX V with MAI and on the OTC markets with MAIFF. News Release
Copper Mountain Mining says productin for 2019 of 72 million pounds of copper met guidance while production in Q4 was 14% higher than Q3. The company expects to increase production by 33% to 96 million pounds in 2020.
Endeavour Silver Corp said Silver and gold production was lower in Q4, 2019 compared to Q4, 2018 due to the suspension of mining operations at the El Cubo mine during the quarter and lower throughput and grades at Bolanitos, partly offset by higher production at Guanacevi and new production at El Compas. The Company withdrew its revised guidance in Q4, 2019, silver production missed the low range of revised guidance by 4% and gold production missed the low range of revised 2019 production guidance by 2%.
Last week we shared the news regarding Nighthawk Gold’s planned 5 to 1 share consolidation. This morning the company announced that has been completed, consolidating over 223 million shares into approximately 44 and a half million common shares. Nighthawk trades on the TSX with NHK and on the OTC markets with MIMZF. News Release
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.
Mining Stock Daily is distributed over a dozen different networks throughout the world and in proud partnership with the Junior Mining Network. It is produced by Clear Creek Digital and Investment Research Dynamic's Mining Stock Journal.
Have a wonderful day. Be well.
Mining stock daily and its affiliates are not responsible for any loss arising from any investment decision in connection with the material presented herein.