IAU, BTO
Surprise, surprise, i-80 Gold aka IAU reported yet more high grade drilling results. Getting boring, right?
Nope, especially not when the headline assays are 28.2 g/t Au over 17.8m, 39.0 g/t Au over 9.5m, and 20.1 g/t Au over 21.1m.
And not a surprise either, given the quality of the Nevada gold properties IAU has amassed. In this case, the assays come from the Ogee zone on the Granite Creek property. Ogee is located below the existing workings, which are being extended so the zone can be mined over the next year.Ogee and the adjoining South Pacific zone remain open at depth, which will be investigated as IAU continues extending the decline under development.
It is also important to note that much of the mineralization being encountered at Ogee is easier to process oxide ore.
Message 34061175
FWIW, in response Scotia released a new analyst report, calling the impact Positive but keeping IAU at Sector Outperform with a target of $4.26.
B2Gold aka BTO released their Q3 financial results. We already knew their production had come in below forecasts, so it should be no surprise that costs came in well above forecasts, by well over $100/oz Au. But based on what they assure us will be a strong Q4, they once again reiterated 2022 production and cost guidance, though admitting costs are likely to be at the top end of that range. It was approximately a break even quarter, but even though cash flow was down considerably, they are still in a strong financial position with a cash stash of $549M vs. debt of $62.5M.
They also underlined how Colombia has become a non-go country for mine developers under its current government by announcing that they and JV partners Anglo Ashanti have put the Gramalote gold project up for sale.
Message 34062747
FWIW, in response TD put out a new analyst report calling the impact Slightly Negative but keeping BTO at Action List Buy with a target of $8.50. Meanwhile, Scotia called the impact Mixed while keeping BTO at Sector Outperform with a target of $7.50, while BMO kept BTO at Outperform with a target of $7. |
