Oceanagold aka OGC released a comprehensive 3-year outlook for their gold and copper mines in New Zealand, the Philippines, and the US. First off, we get 2022 guidance of 445k-495k oz Au and 11kt-13kt Cu at a cash cost of $675-775/oz Au. This is a substantial increase from 2021 production due to Didipio ramping back up to full production after receiving delayed permits plus ongoing optimization at the Halle mine in the US. According to what they have laid out, production is supposed to increase another 10% or so in each of 2023 and 2024 with costs continuing to drop. As well, they announced that a technical review of Halle is complete but came up with no material impact.
So at this point, barring further disruptions with permits in the Philippines or weather issues at Halle, it is all down to execution, particularly bringing a new mine at Waihi in new Zealand into production. If they are successful there should be substantial appreciation in the price, assuming the PoG cooperates. I might just add to my stash of shares.
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FWIW, BMO put out a new analyst report in reaction to this PR. Citing the cost increases at Halle in the technical report, they saw the PR as modestly negative, keeping OGC at Outperform but lowering their target to $3.
Kootenay Silver aka KTN announced a $4M PP and then upsized it to $5M. I am hoping part of the proceeds will be used to provide capital to list their subsidiary Kootenay Resources, created to hold their BC properties.
ca.finance.yahoo.com
Minera Alamos aka MAI brought us a review of the first partial year of operations at their newly constructed Santana gold mine in Sonora, Mexico. Although they have had to deal with Covid and extreme weather above and beyond the usual startup issues for any mine, they managed to exceed projections by stacking 9100 oz Au on the leach pad in 2021. Mining is continuing to ramp up, reagent consumption remains low, and gold recoveries are continuing to increase, which may indicate it won't be too many more months before they declare commercial production and thereby open the stock up to more institutional investors. A number of different optimization initiatives are laid out in the PR, my favourite being higher than expected grades in the ore straining the crusher capacity, a problem which has been mitigated. A nice problem to have...
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Goliath Resources aka GOT released some very impressive metallurgical results from test carried out ore from the Surebet zone on their Golddigger property in BC's Golden Triangle. Gravity alone yielded Au recoveries of almost 40% indicating it may be practical to produce dore on site, while the addition of flotation pushed Au recoveries over 90%, with what look like economic recoveries of the Ag, Pb, and Zn. Equally positive, it doesn't look like the use of cyanide will be required.
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