Second batch of my analysis
PG Premier Gold
High risk high reward. PG has assets in Canada, the US, and Mexico. They have already been having trouble with Mercedes in Meixco failing to meet guidance in terms of cost or production, and now doubt the restrictions due to the virus will make it worse. Their other production from a JV with Barrick in Nevada. seems more secure at this time and should be a good money-spinner. They also have a full suite of exploration and development properties in Nevada and Ontario. I am hoping the unnamed company that recently tried and failed to buy out Centerra's portion of the Hardrock JV with PG's blessing will successfully come back with a higher bid so that project can get moving.
I'm 'show me' mode with this one.
CEE Centamin
CEE's producing asset may be in Egypt, but it is located out in the desert away from population centres so with proper precautions they should be able to weather the pandemic without problems, though there may be some worries about getting supplies and fuel at certain moments. They have also drilled up significant ounces on some properties in Burkina Faso and Cote d'Ivoire, but don't seem inclined to push them into production at this point.
This may be the perfect moment to buy CEE, assuming the PoG cooperates, because they are just coming out of a tough few years where grades and costs did not meet guidance, leading to a decline in the share price, but seem to have got that back under control the last few quarters.
One other possible boost to CEE's share price could be M&A. EDV recently made an unsuccessful atempt to but them out, and they or another company might well make another attempt in the future. And CEE itself has no debt and more than $350M cash, so they might also be an acquirer.
Oh, and they have more than 1B shares out, which is not unusual for stocks that trade primarily on the LSE, but I know it puts some people off.
MAI Minera Andes
I originally bought shares in this company for their moly properties when they were VGM, but under the new management the focus has shifted to cheaply bringing some Mexican gold properties into production. They have the money in place to bring Santana on-line before the end of the year, but this schedule is virtually certain to be disrupted by the pandemic. It also remains to be seen how quickly they will be able to drill out La Fortuna, which is supposed to be second in line.
I am of course way underwater on my original pre-rollback purchase from a decade ago, but am pleased that the shares I added last last year are still in the green. There is definitely a chance I will add more, but that will depend on developments.
TUO Teuton Resources
And for variety, here is an out and out explorer focused on BC's Golden Triangle, where the ccompany principals have been working for decades. Their primary asset at this point is their JV on Treaty Creek with American Creek and Tudor Gold; notably, all three companies did large PPs with Eric Sprott last year. (Sprott now owns 11% of TUO.)
TUO is hunting elephants in elephant country, aiming to sell off any elephants they do find to the larger companies that already operate producing mines nearby. IIMO Treaty Creek is well on the way to reaching that objective. Perhaps the best way to indicate this is to include a sentence from TUO's recent PR which describes their 100%-owned Treaty East property.
"The Treaty East property is surrounded by the Treaty Creek property (Tudor Gold 60%. American Creek 20% and Teuton Resources 20%) to the west, the Brucejack-Snowfield property (Pretium Resources) to the south and satellite claims belonging to Seabridge Gold to the north.."
Yes, there are elephants in them there mountains...
Speaking of PRs, TUO has always been a low expenses company run by geologists, so you didn't get much newsflow, but this may change this year due to the money from Sprott. But do pick your spots. TUO is a junior with only 40M shares out that does not trade high volumes, so it is best to observe the trading pattern for a while before putting up your money. Stink bids can also be very lucrative in terms of bringing down your average cost.
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