OGC, HMLO, IPT, MAI
Oceanagold aka OGC has delisted from the ASX leaving them only listed on the TSX. They didn't specify why, but normally these are done because the volume on the exchange didn't justify the costs.
ca.finance.yahoo.com
Hemlo Explorers aka HMLO announced the signing of the final agreement for the Pic gold prospect in Ontario whereby a subsidiary of ABX can earn 80% of the property by spending $1M year for 5-7 years on exploration as well as funding a PFBS. ABX also subscribed for a small PP into HMLO. Barrick is notorious for not releasing much news about their JVs with juniors, but for them to make this commitment shows how prospective Pic is. If they get as far as delivering a positive PFBS I expect HMLO would be bought out of its remaining 20% interest.
Message 33979129
Imapct Silver aka IPT announced their Q2 results. This company has never exhibited much ambition, being content to dribble along around breakeven based on production from their silver polymetallic mines in Zacatecas, Mexico. Q2 was no exception; production and grades were higher but silver prices were lower so they managed to record a small loss. They are in sound financial shape, with cash over $18M and no debt, and they might actually be stepping up if the words about a new focus on exploration and development, but we shall see.
Message 33979148
If you want to read the IKN newsletter's in depth coverage of Minero Alamos aka MAI's recent quarterlies, you'll have to subscribe, but I will say that it emphasizes MAI's strong financial position as they approach the declaration of commerciality for their Santana gold mine in Mexico and the start of construction of their next mine, Cerro de Oro, with a growing treasury, minimal debt, and an unused line of credit. And IKN reminds us that Cerro de Oror is supposed to start production before the end of 2023, and that between cash on hand and what they will be earning from Santana, there should be no need to touch that line of credit. Best news, the rains have continued, but not too much...
Saville continues to maintain that gold will likely set an all-time high early in 2023 when the Fed reverses course with respect to interest rates, and that gold stocks will shortly commence a cyclical bull market. He also expects the rest of the commodities will commence a bull early next year/ |
