IPT, IAU, GOT, CAPT
Impact Silver aka IPT announced its Q1 results, which were mixed Production from their mines and mill at the Royal Mines of Zacualpan in Mexico was up from last year, as were revenues, primarily due to higher gold and lead production. Silver production was up marginally thanks to higher mill throughput, with the silver grade remaining flat. As a result, revenues were up 7% from last year, but cash costs were up 16%, primarily due to foreign exchange loses. They remain in good financial shape, with no debt and $14.3M at quarter end, with another $9M added to the kitty by a recently closed PP.
I am still not sure what IPT is going to do with all that money. Some will go to more exploration and possibly new mine development at Zacualpan, and some will go to upgrading operations at the recently purchased Plomosas Zn/Pb mine in Chihuahua. To that end, they have temporarily ceased mining at Plomosas while they carry out the upgrades, and will do the same with the mill in the months to come. They also hope to begin gold production at Plomosas.
Message 34300023
Nevada gold miner i-80 Gold aka IAU has been making an effort to become more visible on the US markets, including listing on the NYSE last year. Now they are taking what they hope will be an important next step in the process with the announcement that they have been included in the latest version of the Russell 3000 index. This should increase liquidity and visibility for the stock to American investors; time will tell if it also improves the share price.
ca.finance.yahoo.com
It's been a long time since Goliath Resources aka GOT has even mentioned any of their properties besides the Golddigger Au/Ag prospect in BC's Golden Triangle, but their latest PR heads 100km south to their Lucky Strike prospect, located just north of Terrace. Geophysics and mapping and sampling has identified two promising targets, each of which will receive 1km of drilling.
Goldsource is a prospective breccia where samples like 4.92 g/t Au and 14.55 g/t Ag have defined a 550m outcrop at the middle of a circular feature a kilometre in diameter that has never been drilled.
Head 14km north from Goldsource and you come to Bullseye, which samples and geophysics have indicated hosts a large Au/Cu porphyry that also never been drilled, and appears to contain the source for some of the most prolific placer creeks in BC.
GOT's focus will certainly remain on Golddigger, but if they cam come up with some good drill results from Lucky Strike, look for them to continue exploration there as well. It's an easy property to access, near logging roads and power. They don't actually say when drilling will begin, but I am sure it will be soon.
Message 34300079
We hadn't heard from Capitan Silver aka CAPT since January, and now we know why. They have been doing more drilling and mapping and sampling on their Cruz de la Plata prospect in Durango, Mexico while integrating the adjoining property they acquired from Fresnillo in November, giving them control of an entire silver district with a number of past-producing mines.
They have been able to extend several previously-drilled prospects, and have identified a number of others, now comprising over 22 km of Ag/Pb/Zn/Au veining as well as a disseminated oxide gold prospect, all of which will be followed up with further exploration in the months to come. I expect the news flow to pick up substantially.
Message 34300098 |
