WGX, SNAG, TECT, IPT
A few days after the PR from West Australian Wesrgold aka WGX announcing the first Mineral Resource Estimate for its South Junction deposit, they released another PR on the same subject that goes into much more detail about the deposit and how it was discovered and how it will be mined. I am not sure why this info wasn't included in the original PR, but it is worth reviewing regardless.
I won't try to summarize the details, except to say that the South Junction ore body should be a good money spinner for years to come.
Message 34784812
Yukon silver explorer Silver North Resources aka SNAG released an update on its Tim property in Yukon. The current exploration is being funded by Coeur, because Tim continues to show indications it may host CRD deposits like those being mined nearby by Coeur at its Silvertip mine Specifically, they are exploring around the same Wolf Fault that is the source of mineralization at Silvertip and extends onto Tim and another of SNAG's properties.
So far Coeur has completed 4 of 6 planned drill holes, and has been encouraged enough to add more geophysics to this year's exploration. We can expect assays and other results in October.
Message 34788203
It's been disappointing waiting for Alaskan gold explorer Tectonic Metals aka TECT to do more work on its Flat prospect, but finally they have announced that they have raised enough money to get going on this year's drill programme, which will begin shortly. They have really lost momentum with the delay, so investors had better hope they find more quality mineralization this year, and that it doesn't take so long for assays to be released.
Message 34788247
Mexican miner Impact Silver aka IPT released its Q2 results, which I would call mixed. They did increase revenues, primarily due to higher silver prices and increasing production at the Plomosas mine, which is still under rehabilitation as IPT gradually increases production. Silver, gold, and lead production from Zacatecas were all down slightly in Q2. This all led to an overall loss for the quarter, but they remain in good financial shape thanks to a PP completed in Q2, with a cash stash of $9.9M and no debt.
So far IPT has not followed through on my investment thesis, that it is very leveraged to the price of silver, but I am still hopeful. Increasing production at Plomosas should decrease costs, and IPT also expects a more lucrative mix of ore to be processed at Zacatecas thanks to some recent discoveries. If they can follow through and silver makes another big run early next year as expected, the IPT run I am waiting for could happen.
Message 34790198 |
