AXU, QRC, NSR, IAU
We get a disappointing PR from Alexco aka AXU. I had hoped that the the ramp-up in production as they develop new mining areas and commission their mill at their Keno Hill Ag/Pb/Zn/Au property in the Yukon meant they could get through to full production without having to raise more funds, but apparently they couldn't resist the lure of easy cash, announcing a $13.1M non-brokered PP, which will no doubt be upsized before final closing. Oh well, maybe they have a use for the money which will be a pleasant surprise.
ca.finance.yahoo.com
Queen's Road Capital aka QRC announced an interesting investment in Contango ORE, which has a 30% holding in the Peak gold mine Kinross is developing in Alaska, as well as a 100%-owned nearby prospect. It follows QRC's usual model; they will purchase $US20M of convertible debentures which will bear interest and then be converted into CORE shares on maturity. FWIW, the IKN newsletter spent some time looking at this transaction and liked it.
ca.finance.yahoo.com
Nomad Royalties aka NSR released their preliminary Q1 results today, The results were a little lower than expected at 6604 oz AuEq, thanks to lower gold deliveries from the Blyvoor gold mine in South Africa. But note that Blyvoor started performing much better in March, so there is reason to be hopeful going forward. We will get full financial results from NSR in early May. In the meantime, it is nice to see the share price back over $10 for the first time in almost a year
Message 33798202
FWIW, in response BMO kept NSR at Outperform with a target of $14, while noting they would not be surprised by future outperformance.
And I should mention that I took advantage of the recent dip to add to my stash of i-80 Gold aka IAU shares. My personal target once they get all their Nevada gold mines and mills running over the next few years is $10, assuming the PoG cooperates. |
