MAI, MTA, GQC, SNAG, TUO
Minera Alamos aka MAI announced they have closed the PP intended to fund the purchase of the producing Pan gold mine in Nevada and the nearby Gold Rock development project. No surprise, the full $110M plus the $25M Underwriter's Allotment were both fully subscribed.
Also no surprise is that the share price, at least for now is nailed to the $0.34 mark implied by the PP. Now we wait for a catalyst to get the share price moving up again.
ca.finance.yahoo.com
Metalla Royalty & Streaming aka MYA released its Q2 results. The quarter was a positive one for MTA thanks to achieving their first revolving credit facility, thereby lowering their cost of capital, plus the Endeavour mine restarting production and is expected to deliver cash flow to MTA starting this quarter.
Attributable Gold Equivalent Ounces (GEOs) for Q2 amounted to 840, a 30+% increase from last quarter and more than double from Q2 2024. Consequently, royalty revenue was also up substantially from last quarter and was more than double that from Q2 2024. As well Q2 cash costs per GEO were less than half of last year's Q2 costs.
Reading through the list of asset updates, I could not spot any near term catalysts, but there are a number of mefium-term ones, so MTA needs to hope that the producing assets continue to deliver to take them through the near term.
Message 35225946
The big holdup in the development of GoldQuest Mining akak GQC's Romero mine in the Dominican Republic was caused a group of politically motivated activists who managed to interrupt the permitting process.
Hence it is good news that under the new, more mining-friendly government, GQC has begun the ESIA process by holding 7 local community meetings located near Romero, and apparently they went well.
No information was given on how long it will take to get the ESIA process completed or when the promised FBS for Romero will start. I'd like to see some timelines.
Message 35226169
Silver North Resources aka SNAG announced the start of this year's drilling on its Haldane Ag/Zn/Pb prospect located adjacent to Hecla's operating Keno Hill mine in Yukon. This campaign will consist of 10 holes following up last year's discovery at Main Fault, which found stacked silver veins yielding assays like 1.83m (true width) of 1,088 g/t Ag, 3.90 g/t Au, 1.89% Pb, and 0.63% Zn as well as wider zones of silver mineralization including 5.8m (true width) of 365 g/t Ag, 0.23 g/t Au, 1.80% Pb, and 1.37% Zn.
In the ideal world, eventually they will be a bidding war for SNAG between Hecla and Coeur, who are pursuing a JV with SNAG on Tim, located close to Coeur's operating Silvertip kine.
Hey, speculators have to dream...
Message 35226225
Teuton Resources aka TUO's JV partner on the Treaty Creek project in BC's Golden Triangle announced the they have filed the permit application to build a ramp which will allow year round underground access to the heart of Treaty Creek, particularly the high grade gold-rich SC-1 Zone.
No timeline was given for when they expect the permit or plan to start construction of the ramp.
I did contact TUO asking when we mught get an update on LUX which they recently spun off, but did not receive a reply.
Message 35226276 |
