GOT, MIRL, SNAG, BTO
Goliath Resources aka GOT continues its bizarre avalanche of PRs -- 12 since July 5th! -- with yet another that is even more strange than usual. It purports to reveal a whole new set of discoveries on its Goldiger property in BC's Golden Triangle, yet all but one of these 'new' discoveries were announced and detailed in a PR two weeks ago. Yes, there is good news in this PR, as the discovery that is actually new, Treasure House, looks promising, but is it any wonder that the response by the market is to let the share price drift even lower?
Message 34397361
Impact Silver aka IPT released its Q2 results. At their Zacatecas mine in Mexico, tonnage milled was down but grade was up, leading to a decrease in Ag production to 155744 oz. They also tell use that Au and Pb production was up substantially but we only get percentages. Revenue was up but so were costs, and we learn that as usual they made a small loss for the quarter, but thanks to a recently completed PP they are in good final shape with $13.7M cash and no long term debt. Meanwhile, we wait to see whether they can turn their recent purchase of the Plomosas zinc mine north of Zacatecas into a money maker.
Message 34397371
I originally bought a few shares of this company many years ago and had the symbol EST, interested by its focus on silver prospects in Yukon Territory. Then it merged with TCC, changied its name to Allianza Minerals aka AII and started messing around with gold and copper projects in the US. Now, after a rollback, AII has again rebranded, this time to Silver North Minerals aka SNAG, and the focus is back on their Yukon silver prospects. They will be looking to divest or option out the properties in the US.
SNAG has announced that their lead projects will be the two properties that attracted me in the first place.
s
Haldane is a high grade Ag propect located 22km from Hecla's producing Keno silver mine. They have already identified over 12km of vein strike even with limited drilling, and there are numerous exploration targets. Past drill results include 8.72m @ 311 g/t Ag, 0.89% Pb, and 1.13% Zn, 3.14m @ 1351 g/t Ag, 2.43% Pb and 2.91% Zn, and 4.27m @ 363 g/t Ag, 1.73% Pb, and 2.80% Zn.
Tim is another Ag prospect, located 19km from Couer's producing Silvertip mine. Indeed, it is actually located on the access road to Silvertip, so it is no surprise that it is optioned out to Coeur, who can earn up to 80% ownership.
I will watch and wait before adding to my now rather underwater but fortunately rather small holding in SNAG.
(BTW, their symbol makes me chuckle, because the timn community of Snag, located not too far away from SNAG's Yukon properties, is the location of the lowest temperature ever recorded in Canada at -63C.)
Message 34398494
I have often found Dividend Reinvestment Plans or DRIPs a useful part of my investments in large cap stocks, but never in the resource space, where I tend to focus on smaller companies. If I ever decode it is time to buy back into B2Gold aka BTO, I will get the opportunity, because they have announced the institution of a DRIP.
Right now I find BTO's country risk is too high, but if that ever diminishes, the DRIP will be an attractant for me.
ca.finance.yahoo.com
The IKN newsletter brings us news from the rapidly failing Minera Alamos aka MIRL, and it is not good. Locals around their Corihuarmi mine in Peru have been complaining about pollution around the mine, and the government has launched a tribunal to investigate. And IKN also points out the interesting trading, with 100-lot trades every 10 minutes or so. That is not healthy trading. |
