WM, MAI, KRR, IAU
Not long ago I opined that, based on everything they have going on, Wallbridge Mining aka WM would have a consistent newsflow this year, and so far I am right. Today we hear about more drilling at their flagship Fenelon gold project on the Detour Greenstone Belt in Quebec. Some of this set of holes was infill drilling, which found new mineralization inside the resource envelope at Fenelon, demonstrating the ability to continue to build the resource from within. WM also reported holes that extend the limits of known mineralization outwards, providing another area for growth. Finally, there were also holes drilled to explore for new deposits and to better define the geology around Fenelon, and again they were successful in both.
This PR contains complete results for 72 holes and partial results for another 6, and drilling in ongoing full blast.
Message 33791822
Minera Alamos aka MAI brought us an update from their recently opened Sanatana gold mine in Sinaloa, Mexico. A planned shutdown in January allowed a number of improvements -- better sequencing, bringing blasting in-house, changing cutoff levels, and so on -- to be implemented after a few weeks of down time and the results have been positive, as witnessed by the gold production numbers -- 890 oz in (part of) January, 1130 oz in February, and 1370 oz in March.
It has been nice to see MAI finally get out from the burden of all those shares being sold willy-nilly by Osisko, but I expect the real increase in the share price to get going this quarter, for two reasons: 1) they will be increasing production by starting mining at the Nicho Norte pit; and 2) increasing production both from the earlier improvements and by mining Nicho Norte should allow the declaration of commercial production, which will allow a whole new class of institutional investors to get involved. (And remember that Santana is only the first of three gold mines in Mexico they will be bringing into production over the next few years.)
Message 33791861
Karora Resources aka KRR announced a new gold Respurce Report for their Beta Hunt mine in Australia. (This RR does not include the nickel mineralization.) Net of mining depletion, they managed to increase M&I Resources by 7% to 1.12M oz Au, and Inferred Resources by 46% to 786k oz Au, chiefly through the first time inclusion of the higher grade Larkin Zone, discovered in 2020 when they were looking for more nickel. Perhaps most importantly, this Resource Report supports KRR's plans to increase production to 185-205k oz Au by 2024.
We will get an updated nickel Resource Report this quarter. Exploration and development drilling at Beat Hunt and Higginsville continues to deliver good results, so I expect a substantial increases in Resources and Reserves to come. Like MAI, KRR has recently broken upwards from a trading range, and I expect the share price to continue upward.
Message 33791893
FWIW, in the wake of yesterday's PR from i-80 Gold aka IAU releasing new underground drill results from their Granite Creek gold property, which will be brought into production, perhaps later this year, when mine studies are permitting are complete, Scotia issued a new analyst report, which saw the results as 'positive' but kept IAU at Sector Outperform with a target of $4.75.
I really need to buy some more IAU. |
