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Gold/Mining/Energy : Gold and Silver Juniors, Mid-tiers and Producers
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From: LoneClone4/4/2022 6:01:54 PM
1 Recommendation

Recommended By
smh

   of 78405
 
EDV, SSL, HMLO

Endeavour Mining akak EDV released a DFS for the expansion of the Sabodala-Massawa gold mine in Senegal by adding circuits to process the refractory sulphide ore. Based on the numbers, including a post-tax IRR of 72% at $1700/oz gold, they have made the decision to go ahead with the project. Capex is only $290M, self-funded from existing oxide ore production from the mine. The expansion is expected to deliver an average annual production of 373koz per year over the next 5 years at an average AISC of $745/oz Au. Construction will commence shortly with first production expected early 2024.

We can expect a steady stream of such announcements from EDV over the coming years as they bring on line a number of development projects.

Message 33786816

FWIW, RBC saw the announcement as positive but kept EDV at Outperform with a target of $44.

Sanstrom Gold Royalties aka SSL released their usual brief first report for Q1 today. Attributable AuEq sales were estimated at 18700 oz, a new record, as were revenues. We'll get more detail and exact numbers in future press releases.

Message 33787208

Hemlo Explorers aka HMLO's share price jumped today on news that ABX has signed on to earn up to an 80% interest in part of HMLO's Plc property, located 25km west of ABX's Hemlo mine. In return ABX is committing to a small PP into the HMLO treasury while spending at least $1M per year on the project. This year's focus this year will be the Idaho Zone, which looks like it could be analogue to GENM's Marathon project under construction 3km to the west.

Message 33787220
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