ODV, WRLG, GQC, SVB
Osisko Development aka ODV announced that they had received their BC Mining Act permits for the Cariboo project near Barkerville. They expect to receive the remaining environmental permits 'shortly'. As well, they are currently extracting a bilk sample to be completed Q1 and optimizing the feasibility study which is expected in Q2.
Current plans are to complete financing and begin construction Q2 2025 aiming at first production before the end of 2027. We shall see whether they can meet these deadlines.
Message 34918858
West Red Lake Gold aka WRLG announced an update from their Madsen Mine project in Ontario which they are bringing back into production
This PR concerns drilling that follows up the discovery earlier this year of the Upper 8 zone, which impressed WRLG enough that they brought in a second drill. With assays like 1.5m @ 21.44 g/t Au and 2m @ 7.41 g/t Au, a high grade ore shoot has now been defined over a 30m width and 130m down plinge, and remains open at depth. Management is now expressing the hope that due to a number of indicators they think Upper 8 can grow to rival the 8 Zone, which would be great news for the overall economics of the mine.
WRLG also announced that the PFBS for the Madsen Mine, expected before year end, is now expected to be released in January.
Message 34919004
Maybe it is true after all.
We;d had a number of false rumours spread about Goldquest Mining aka GQC finally getting permits to resume development of their Romero Au/Cu project in the Dominican Republic, but they always amounted to nothing. Then a few weeks ago the company announced that recent governance changes in the DR meant they thought they would be able to finally receive the necessary permits, but I was still a little skeptical given how long this saga has dragged on.
More credence was earned with the announcement today that GQC has completed an $8.7M PP. Yes, people with money have given credence to the process by speaking with their money.
I happen to have picked up a bunch of GQC shares on the cheap after one of the rumours that seemed credible at the time, shares on which I am now not far from a triple, but I hope this is just the start. I did very well when GQC spiked over a loonie in 2012, and after reloading got a double on the run in 2016. Dare I hope for another run to a loonie this time?
We shall see.
Message 34919178
There have been some interesting developments at Silver Bull Resources aka SVB's Sierra Mojada prospect in Coahuilla, Mexico. It has been subject to an illegal blockade for the last five years, and SVB is currently in negotiations with the Mexican government for compensation under NAFTA.
But now comes a PR from a private company incorporated in Wyoming that appears to be a new effort by the blockaders. They have offered to end the blockade and drop their lawsuits if SVB is willing to negotiate a 'merger of equals', whatever that means. To me, this indicates they suspect SVB will win a nice-sized compensation package and walk away, leaving them with a deposit they can't raise the money to develop, and that no one else will touch because the ruckus they have raised.
I expect that SVB will push forward with the NAFTA case and only entertain this initiative if they are very unhappy with the results. There has been a lot of bad blood built up between the two sides which will be difficult to overcome.
Message 34920579
FWIW, Scotia has increased their 2025, 2026 and 2027 gold price forecasts to $2,600/oz, $2,500/oz and $2,300/oz, respectively (~13%-32% increase). They are keeping their LT gold price at $1900, but they still increased their price targets for individual gold stocks by about 5% each. Among the target changes, OGC's was increased to $6, while IAU's was lowered to $1.50. (Both were kept at Secor Outperform.)
Saville's chart reading now tells him that $2451 was probably a multu-week bottom. He is expecting a rebound to just below $2700 before the decline resumes. |
