Auryn Resources – Updates on community access agreements and permitting in Peru and Committee Bay drill results
Over the past week I received a number of requests for an update from Auryn Resources. A lot of questions came in regarding the progress of the community access agreements and drill permits for the projects in Peru. Also the potential of an asset sale is still on a lot of investors minds.
Ivan Bebek, Executive Chairman at Auryn joined me to provide a full update on Peru and explain the difference between community access agreements and drill results. We also discuss the upcoming drill results at Committee Bay and the potential of an asset sale or a Company split.
Auryn Resources – Recapping The Bridge Loan and Looking Ahead To the Company Drivers In Q4
This morning Auryn Resources (TSX:AUG, NYSE:AUG) released news regarding a bridge loan for $6million to help fund the Company through next year. Auryn’s Executive Chairman Ivan Bebek joins me to provide some more information on where the funds from the bridge loan will be used and where the Company stands in terms of an asset sale. We also look ahead to Q4 and the catalysts which include permitting in Peru, drill results from Committee Bay and Homestake, and some other factors.
Please email me with any questions or comments you have for Ivan and his team. I can be reached at Fleck@kereport.com.
This summer while many investors were away for family vacation, gold made a major breakout through $1350 USD and into new multi-year highs as we highlighted. Now its only a stone's throw from $1600. Then only a short few weeks ago, silver followed gold breaking out of a major base. Now its above $19.
The Gold-Silver Ratio which hit a high above 90 to 1 this summer is now breaking down finally. That's a good sign for the small junior explorers that are closely correlated with silver. The juniors have been pretty much ignored since 2012. We could be just starting an inflow back into the junior miners. Prior rallies like 2003-2007 and 2009-2011 could signal a powerful reversal of the prior bear market trend.
Look at this chart of the gold stocks in relation to gold bullion. Its finally breaking out of downtrend after hitting a record low. Notice how the early investors in that bull market in 2000 made out.
News is beginning to hit the markets from some of our explorers. I have a few investments in the Golden Triangle in BC this season. This is where we have seen a lot of interest by the majors recently most notably Newmont in their recent investment in $GTT.V GT Gold which continues to hit great results but may be fairly valued at $110 million.
Another one which is just getting started is Libero Copper $LBC.V which should change its name and add gold as they just made a significant gold discovery today. Their Geologist and VP Exploration is Leo Hathaway who works with Ross Beatty at Lumina and has 25 years experience making numerous discoveries.
Leo was very instrumental in the early success of Lumina started in 2004 and now has over a $200 million market cap. Libero still has a market cap under $15 million but they are working on a project which looks almost identical to GT Gold early days in the Golden Triangle. Their Big Red Project looks very exciting especially after all the technical modeling work done by Leo and the team. They see some parts of the project with great potential and just raised $3.7 million to drill it.
Today Libero announced sampling results which confirm a new gold discovery. "5 contiguous 50 metre continuous rock chip samples returned intervals of 2.91 grams per tonne gold over 250 metres including 6.14 grams per tonne gold over 100 metres in two contiguous samples." Drilling this September could confirm another major Golden Triangle Discovery that hardly no one knows about yet. See the full news release by clicking here...
Libero will be presenting at MIF in Vancouver and Precious Metals Summit in Beaver Creek. Schedule a meeting by contacting them here: +1 604 638 2545 email@example.com
See my new interview with Libero $LBC.V VP Exploration Leo Hathaway by clicking here...
Author (Jeb Handwerger) owns shares in LBC.V and they are a featured sponsor company. Sponsors are website advertisers so that means I have been compensated and have a conflict of interest to help boost awareness of this story. The content of this article is for information only. Readers fully understand and agree that nothing contained herein, written by Jeb Handwerger about any company, including but not limited to, commentary, opinions, views, assumptions, reported facts, calculations, etc. is to be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy or sell any security. Author is not responsible under any circumstances for investment actions taken by the reader. Author has never been, and is not currently, a registered or licensed financial advisor or broker/dealer, investment advisor, stockbroker, trader, money manager, compliance or legal officer, and does not perform market making activities. Author is not directly employed by any company, group, organization, party or person. The shares of these companies are highly speculative, not suitable for all investors. Readers understand and agree that investments in small cap stocks can result in a 100% loss of invested funds. It is assumed and agreed upon by readers that they will consult with their own licensed / registered financial advisors before making investment decisions. Readers understand and agree that they must conduct their own due diligence above and beyond reading this article. Author is not responsible for any perceived, or actual, errors including, but not limited to, commentary, opinions, views, assumptions, reported facts & financial calculations, or for the completeness of this article or future content.
Seabridge Gold – An Update To Get Up To Speed On What Seabridge Has Planned For The KSM Project
Rudi Fronk, Chairman and CEO of Seabridge Gold (TSX:SEA & NYSE:SA) joined me for a full update on the KSM Project. We look ahead to what events could drive the stock and project forward plus the options for funding this large scale gold, silver, copper resource. The funding question is one a lot of investors have been asking about and ties into comments on the consolidation of major miners in the gold space.
If you have any follow up questions for Rudi or would like more information on a certain aspect of the Company please email me at Fleck@kereport.com.
Skeena Resources – Drilling at Eskay and an update on the PEA and metallurgy
Skeena Resources (TSX-V :SKE & OTCQX:SKREF) commenced drilling at the Eskay Creek Project earlier this month so I reached out to the President and CEO Walter Coles for an update on the drill program. We also discuss the timing of the PEA which is anticipated for next month and metallurgy work. When it comes to metallurgy Walter recaps the history of the Eskay Creek Mine when it was in production and the options the past owners dealt with.
If you have any follow up questions for Walter or I please email me at Fleck@kereport.com.
Crystal Lake Mining – An Overview of this new exploration Company in the Golden Triangle
Crystal Lake Mining (TSX.V:CLM & OTCQX:SIOCF) is a new exploration Company that holds the Newmont Lake Property in the Golden Triangle in BC. I chatted with the President and CEO Richard Savage to get a general overview of the project and strategy moving forward.
Please email me with any questions you have for Richard or any aspects of the Company you would like more information on – Fleck@kereport.com.
Skeena Resources – Answering Your Questions on The Updated Eskay Resource, Barrick’s Back-in Options, and Metallurgy
Skeena Resources recently released an updated resource for the Eskay Creek Property. I received a couple emails asking for an update and sharing some questions on the overall resource and where the deal with Barrick stands. Walter Coles, President and CEO of Skeena joined me to outline the updated resources and address those questions. We start off clearing up the terms and status of the deal with Barrick and Barrick’s back-in right. Metallurgy was discussed next as the balance between the resource continued in mudstone vs rhyolite is being watched closely. Finally a couple comments on funding options to move the project forward.
If you have any other questions please email me at Fleck@kereport.com.
Skeena Resources – Addressing Some Misconceptions On The Recent Eskay Creek Drill Results
Last week Skeena Resources (TSX.V: SKE, OTCQX: SKREF) released some very nice high grade results from surface at the Eskay Creek Project. However the market reaction to these results was muted as the stock did not move.
I reached out to Skeena’s President and CEO Walter Coles for a comment. He addresses an analyst report that had a couple errors in understanding what type of rock the drill holes came from. We also get an update on what the plans are for this year at Eskay.
Canada’s IDM Mining (TSX-V:IDM), which is in the process of being absorbed by fellow miner Ascot Resources (TSX-V:AOT), can now start building its flagship Red Mountain gold and silver mine near Stewart, British Columbia, as it has received the federal government’s environmental approval.
Environment and Climate Change Minister Catherine McKenna said late on Monday the proposed mine was not likely to have significant adverse effects if the 120 stipulated conditions were met.
Those requisites include measures to protect fish and fish habitat, migration of birds, species at risk, human health, physical and cultural heritage, as well as the current use of lands and resources by traditional Indigenous peoples.
Project will have to meet 120 conditions, including measures to protect fish, birds, species at risk, human health, as well as physical and cultural heritage, among others.
“We are confident that with the mitigation measures in place and the legally-binding conditions the proponent must fulfill, this project will move forward in a way that supports sustainable development,” McKenna said in the statement.
The Red Mountain project, one of the several currently being developed in BC’s prolific Golden Triangle, had already gained provincial environmental approval.
It’s estimated it would take about 18 months to build the mine and bring it into production, with a capital cost of only $135 million.
While the property is said to hold high-grade gold and silver reserves, the projected mine life is quite short– about six years – with an average net annual production of 365,000 tonnes of ore per year, and a payback period of two years.
Ascot Resources, which has been working to restart the historic Premier gold mine near Stewart, plans to consolidate that project with Red Mountain, once the friendly $45-million takeover of IDM Mining closes.
Skeena Resources – Recapping This Year and Outlining The Exploration To Come In 2019
Walter Coles, Skeena Resources President and CEO joins me for a year end recap of all the milestones reached by the Company this year. There were a number of key developments on both the Snip Property and the Eskay Creek Property. We also discuss the exploration plans for 2019 which include an update resource for Eskay. The Skeena share price has been under pressure most of the year which Walter addresses at the end of the interview.
If you have any follow up questions for Walter or I please email me at Fleck@kereport.com.