HMLO, WGX, KDK, QRC
A month ago Hemlo Exploders aka HMLO announced they had acquired a private company that owned a number of prospects on trend with NFG;s Queensway gold project in Newfoundland. Now we get the first update on the feature property, Gold Anchor, which they must like because in the last month they have more than doubled its size, to 1228 sq km.
HMLO has also been busy exploring Gold Anchor, collecting a number of xhip sample from gold-containing boulder plus till samples. Assays are pending, but they have found enough to declare several prospects, which are currently being further explored. Once all the results are in, decisions will be made as to where to drill.
This recent news has doubled HMLO's share price, getting me to a triple in one batch of shares but still way underwater on another.
Message 34859223
West Australian gold/nickel miner Westgold Resources aka WGX released its preliminary quarterly results. It is hard to find comparables, particularly since the quarter includes three months of production from the mines Westgold brought to the recent merger but only two months production from KRR's mines. That said, quarterly production of 77369 oz Au looks good, as does the cash stash of $103M as of Sept. 30. We'll have to wait for the financial results for a clearer evaluation.
Message 34864952
Kodiak Copper aka KDK released another two sets of drilling results from its M{D property in south central BC, where they are exploring for large Cu/Au/Mo porphyries similar to those already being mined in the area.
First we hear about assays from four holes from an ongoing drilling at the Adit zone, which is located nearer to surface than the already defined Gate and West porphyries. The strike length of Adit has been extended to over 400m thanks to long intercepts like 0.26% Cu, 0.04 g/t Au, 3.57 g/t Ag (0.31% CuEq) over 327m and and 0.17% Cu, 0.03 g/t Au, 1.42 g/t Ag (0.20% CuEq) over 450m. I will remind you that grades like these are being mined profitably nearby, plus there are higher grade cores like 1.00% Cu, 0.02 g/t Au, 6.72 g/t Ag (1.06% CuEq) over 24m and 1.08% Cu, 0.04 g/t Au, 6.84 g/t Ag, (1.15% CuEq) over 15m.
We also hear about initial drilling on the Celeste target, which found alteration but no significant mineralization.
KDK's share price has been on a consistent decline since the initial discovery holes were announced four years ago, but has been showing sign's of bottoming. I am hoping the rest of this year's drilling helps make that happen. I am contemplating buying another tranche of shares to add to my holdings.
Message 34865028
Queen's Road Capital aka QRC was formed in 2021 to provide a group of Australian billionaires with dividend income by placing interest paying debentures to mining companies, and we get to go along for the ride because it is a listed company. Their latest PR announces an 11% dividend increase, to 0.021 cents a share, meaning the dividend has increased by over 40% since the company was founded.
Yes, it's nice to see the dividend grow, but about that share price...
I will continue with my small holding and take advantage of their DRIP programme.
Message 34865067
According to Saville, the evidence is inconclusive whether gold stocks have already set an intermediate term top vs. the chance of a final surge before that top is set. He does note that the strength in the PoG in other currencies besides the $US indicates that the longer term bull is intact. |
