| | | RIO, RRI, MAI, KDK, NTH
Rio2 aka RIO made the official announcement of the start of construction at their Fenix gold mine in northern Chile. In reality, construction has been underway since October when they received the final permits, but it is still nice to see the official announcement.
RIO reiterated that construction will be complete in November and the first gold pour is expected for January 2026.
Message 35016156
Almost a year ago FVI signed a JV with prospect generator Riverside Resources aka RRI to eventually earn up to 100% of RRI's Cecilia Au/Ag prospect in Sonora, Mexico, by over a series of stages, paying RRI over $5M plus a 2% NSR, plus spending millions on exploration programmes operated by RRI.
Today we get the results of the first drill programme. These were essentially scout holes, five of them spread across four targets. All the holes found the expected mineralization plus some surprise intersections, The results were good enough that the JV partners are busy planning follow-up exploration including drilling later this year.
Message 35012534
As expected, Minera Alamos aka MAI announced that the lawyers are satisfied so they have closed the purchase of Sabre Gold and its past-producing Copperhead gold mine in Arizona. As near as I can tell, all terms were as previously disclosed.
MAI also gave us more insight on their preparations to bring Copperhead back into production. They have already been in discussions about the financing of the build even as they wait for the necessary permits. They are making preparations to move the plant from Quebec, and have been building the experienced team of MAI veterans that will manage the construction. As well, they will shortly release an updated PEA that will have better economics due to the increase in the gold price and extinguishment of a 1.5% NSR as part of the buyout.
I look forward to getting a detailed timeline for the construction in the near future.
Message 35014452
Kodiak Copper aka KDK released more results of exploration on its MPD property in south central BC, where they are searching for large porphyries similar to those being mined nearby. (There are still sample assays pending for the newly acquired Aspen Grove property, now renames MPD Northwest.)
The last six holes from 2024 were into a target named Blue, and turned out to one of the few misses for KDK these last few years. Better news comes from the mapping and sampling and geophysics programmes, which defined two brand new targets, Dillard East and Star, where geophysics found large anomalies and prospecting found Cu/Au/Ag mineralization.
I suspect the next PR from KDK will include the remaining assays and then lay out in more detail this year's exploration plans. An initial Resource Estimate is also underway.
Message 35014496
Nord Precious Metals aka NTH announced another step in its attempts to extract metals from its Castle Mine in Ontario with the signing of a non-binding LOI with Electra Battery Metals to process the silver-cobalt concentrate NTH envisions producing from the Castle Mine property at ELBM's under construction cobalt refinery in eastern Ontario.
Message 35014607
Saville notes that of late, gold has been trading more in line with the general stock market, indicating that when the latter crashes, so will the PoG. He also notes that the way HUI has been trading indicates there will likely not be a retest of the correction lows. He has also pushed the start of a recession in the US out to Q2.
He also says that if the PoG confirms the current breakout with a weekly close above $2850, this will move his projected peak for the PoG forward from Q4 closer to the present. |
|
