WM, NTH, Blue Jay Gold, WGX, DV
Wallbridge Mining aka WM released the remaining assays from its Phase 1 drilling at the Martiniere gold project in Quebec, aiming at extending mineralization along the Bug Lake Corridor. Assays like 2.79 g/t Au over 5.8 m including 6.19 g/t Au over 1.0m plus 16.30 g/t Au over 1.5m have now expanded the mineralized corridor at Bug Lake to an area of 1500m by 700m, some near surface, some deeper, and a new drill programme is slated to begin this month to further extend the mineralized zones.
As usual with WM, the market yawned at the news.
Message 35183493
Nord Precious Metals aka NTH has a good problem. They have now dug 68 test pits around the Castle Mine in Ontario and keep on finding more and more tailings, including under roads and where they are planning to install the processing plant, with the tailing depth often exceeding the depth the excavator can reach.
NTH is awaiting permits to process the tailings for silver and other metals and then use the reprocessed tailing to backfill portions of the mine that require reinforcement.
The digging of test pits continues and is planned to extend to the property boundaries.
Message 35184887
I received some shares of Blue Jay Gold, which holds gold properties in Ontario and Yukon Territory, as a spinout from RRI. Then I received a notice that I needed to take action because just like the RRI shares that birthed them, they are in a registered account even though the BJG shares are not eligible investments.
When I first contacted my broker, I was told that my only option to keep that account registered was to give the BJG shares to the broker. But I persisted and got the guy to talk to the back office, who instead authorized what is called a 'swap' of the BJG shares to a non-registered account. Normally such a swap would require me to move assets of equal value into the registered account, but the Blue Jay Gold shares currently have no deemed value, a straight move was sufficient.
Do NOT leave any Blue Jay Gold shares you have in a registered account past the 60 days maximum, or that account will be deregistered and you will have to pay lots of penalties.
FWIW, Goldman Sachs has issued a new analyst report initiating Westgold Resources aka WGX at Buy with a target of $C3.12. [Thanks kidl.]
I added a new nag to the stable. It was a close call, I almost went for ABRA but instead, but I settled on Dolly Varden Silver aka DV.
I have been keeping half an eye on DV for some years now, but figured now might be the right time to get on board. In spite of completing a major consolidation of properties in the Kitsault Valley in BC's Golden Triangle, they still have under 91M shares out FD, and after recently completing a major financing, have $52M in the kitty so need for any near term financing. 50% of the shares are held by institutional investors including Sprott, Fidelity, and Delbrook, with another 13.7% held by HL, 13.5% by FURY, and almost 10% by Eric Sprott.t Tose are all more or less strong hands, so there are not many shares available for purchase on the open market.
DV have picked up other prospects along the way, but their main asset is the 770 sq km Kitsault Valey, located close to tidewater and power. There are a number of past-producing mines on the property The two declared Resources at Dolly Varden and Homestake Ridge, contain almost 35M oz Ag Indicated and almost 30M oz Ag Inferred, plus a bit of gold.
Given their recent property purchases, I see DV as in a bit of a refocus, and await a more fully developed plan for what happens next. DV is not going to be a 10-bagger, but I could see a double from here before the PM bull ends, particularly since they recently listed on the NYSE using the symbol DVS.
Currently I am looking at DV as a shorter term hold, maybe 6-8 months, but that could change depending on how things develop.
Saville points out that platinum has broken out and he expects palladium will shortly follow suit. He also thinks copper may test the top at $5.20. Meanwhile, things are mixed for PMs and PM stocks, hard to call at the moment. |
