Alexco aka AXU released the final yearend results from their silver mines and mill in the Yukon, and it was definitely a mixed bag at best. On the positive side, the continue to prove up their mill, which is exceeding recovery expectations and at times running above nameplate capacity. As well, they now have two mines in operation with multiple mining faces operational in each. However, problems with supply chains and Covid have delayed their ramp-up to full production, which was supposed to happen this quarter, has been delayed till Q3.
These seem to me to be the usual start up problems you have with any new mining operation, particularly in the time of Covid. Although they have been losing money during the startup, they still have plenty of cash to take them through to that point, which should be mere months away, when they should begin producing free cash flow and profits, so I am staying the course with my shares.
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Karora Resources aka KRR has been trading like a champ of late, finally getting recognition for the growing gold and nickel production from its mines and mill in Australia. You may have noticed a bump in volume on Monday, which involved on this PR announcing that KRR has been included in the GDX Gold Miners Index. I expect to see more analyst coverage of the stock in coming months as it gains more visibility.
ca.finance.yahoo.com
We got another set of results from Kootenay Silver aka KTN's JV with Aztec Minerals on the California Zone on the Cervantes gold prospect in Sonora, Mexico. Two of the holes were located along the edges of the mineralization and intersected long intervals of low grade mineralization, while the third was in the centre of the mineralization and delivered the highlight intersect of 0.53 g't Au over 138.3Mm including 10.67M of 1.622 g/t Au. They note that these are apparent widths, and that the mineralization is dispersed into breccias and porphyry. The California Zone is now 900M long, 250-500M wide, and up to 265M deep. We'll see how much the remaining 8 holes can add to that when they release the assays next quarter.
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My notes say that Wallbridge Mining aka WM and their JV partner Midland were going to begin drilling on the Casault gold project last August, but today we finally got the announcement of the start of drilling to follow up on the gold discovery the JV made on the property last year. Casault is loctaed on the Detour trend in Quebec, adjoining WM's Martinere project, which itself adjoins WM's flagship Fenelon property. Reflecting Casault's secondary status, the drill programme encompasses only three holes, two in the vicinity of the discovery hole and the third, which will test a magnetic high on the same structure, a kilometre away.
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The IKN newsletter brings us news that Doug Ramshaw, the President of Minera Alamos aka MAI, bought another 100k shares of his company on the open market last week, bringing his total holdings to 6.5M shares. That's quite the show of confidence. He, I, and IKN are all sure that MAI will finally get its due this year as they declare commerciality at their Santana gold mine in Mexico and then announce which of their two other mines-to-be will be built first. |
