Company Updates From Management – Fri 6 Sep, 2019

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.

Click here to visit the Auryn website and read over the recent news.

Weekend Show – Sat 17 Aug, 2019

Hour 1 – Featuring Axel Merk, Mike Larson, and an update from Auryn Resources
Full Hour

It was another volatile week for US stocks but the real standout was the continued fall in yields and a quick inversion of the 10year/2year yield curve. Recession fears are on the minds of traders which is helping the safe assets garner a buy. We focus a lot on yields in this hour and also get an update from Auryn Resources.

Please keep in touch by emailing me at Fleck@kereport.com.

  • Segment 1 and 2 – Axel Merk, President and CIO of Merk Investments kicks off the show with a comprehensive look at the markets. Take note of what Axel says regarding money flows into risk off assets being more a hedge right now.
  • Segment 3 – Mike Larson, Editor of The Safe Money Report focuses on the falling yields in the US. We discuss what this means for the Fed and why he continues to like defensive stocks.
  • Segment 4 – Ivan Bebek, Executive Chairman of Auryn Resources provides a full update and answers your questions on the status of the properties in Peru. We also discuss the work just completed at Committee Bay and the possibility of an asset.

Exclusive Company Interviews This Week


Axel Merk
Mike Larson
Ivan Bebek – Auryn Resources

Weekend Show – Sat 22 Jun, 2019

Hour 1 – Central Bank Easing, Gold, Tech, and An Update From Auryn Resources
Full Hour

It was a big week for gold which closed at a 5 year high, right at $1,400. While gold was heading higher US markets also touched all time highs and the Dollar moved down. These moves were helped by the Fed statement mid-week and a continued dovish shift by the central banks around the world. I discuss all of these market moves in this hour as well as receive a comprehensive update from Auryn Resources.

I hope you all enjoy the show! Please keep in touch by emailing me at Fleck@kereport.com. Have a great weekend!

  • Segment 1 – Marc Chandler, Managing Partner at Bannockburn Global ForEx shares his thoughts on the statements from both Jerome Powell and Mario Draghi, and looks ahead to market moving events next week and the G20.
  • Segment 2 – Mike Larson, Editor of The Safe money Report weighs in on the Fed’s inability to create inflation and the what a rate cutting cycle will look like.
  • Segment 3 – Allison Ostrander, Director of Risk Tolerance at Simpler Trading takes a look at some of the big name tech stocks and what the charts are telling her.
  • Segment 4 – A full update on Auryn Resources from Executive Chairman Ivan Bebek. We discuss the Sombrero Project in Peru (including your permitting questions) and the drill program about to be started at Committee Bay in Nunavut. Click here to visit the Auryn Resources website.

Exclusive Company Updates This Week


Marc Chandler
Mike Larson
Allison Ostrander
Ivan Bebek – Auryn Resources

Copper Snapshot: Eight companies hunting for the red metal

Compelling supply and demand projections for copper in the years ahead makes the red metal one of the favourites of industry observers, who see flat-lining mine supply running into increased demand as the world continues to achieve greater electrification. Here’s a look at eight active juniors with substantial copper assets in their property portfolios.

AURYN RESOURCES

While Vancouver-based junior Auryn Resources (TSX: AUG; NYSE-AM: AUG) is primarily a gold explorer with its flagship Committee Bay gold project in Nunavut, it does have a large copper-gold porphyry project in its portfolio in the form of the 1,200 sq. km Sombrero copper-gold property, located 340 km southeast of Lima in southern Peru at a 3,900-metre elevation, with road and power access.

The property is located in the Andahuaylas-Yauri geological belt, and Auryn interprets it to be on the northwestern margin of the Eocene–Oligocene-aged copper-gold porphyry and skarn belt that hosts the Las Bambas, Haquira, Los Chancas, Cotambambas, Constancia, Antapaccay and Tintaya deposits.

Auryn’s principal target at Sombrero is copper-gold skarn mineralization, which the company says has “geological similarities to the Tintaya and Las Bambas mines,” though it says samples being collected at Sombrero are copper-gold, rather than molybdenum-gold. In addition, Auryn notes a layer of volcanic cover that is between 5 to 25 metres thick at Sombrero, which is not seen farther east where the Los Chancas, Las Bambas and Tintaya mines are located.

The first trench of Auryn’s 2019 program at Sombrero was Trench 20 in the Fierrazo concession, and it has delivered 232 metres of 0.55% copper equivalent (0.47% copper and 0.13 gram gold per tonne), including 40 metres of 1.26% copper equivalent (1.23% copper and 0.05 gram gold).

Auryn acquired the rights to the Sombrero property through an option agreement with Alturas Minerals, whereby to exercise the option and acquire a participating interest for 80% of the Sombrero concessions, Auryn must incur up to US$2.1 million in work expenses within five years, and make cash payments of $200,000.

CAMINO MINERALS

A drill site on Camino Minerals’ Los Chapitos copper project in Peru. Photo by Camino Minerals.

Edmonton-based explorer Camino Minerals (TSXV: COR; US-OTC: CAMZF) was spun out of Canplats Resources in 2010 after its $300-million acquisition by Goldcorp, which wanted Canplats’ 4 million oz. gold Camino Rojo gold-silver discovery in Mexico.

Today, Camino is led by president and CEO John Williamson and is focused on copper and gold projects in Peru, though it also has assets in Mexico, the U.S. and Canada.

In Peru, its flagship asset is its Los Chapitos copper-gold project, which covers 200 sq. km near Chala in the country’s southern region.

In March, Camino reported its newest discovery at Los Chapitos named the Lidia Zone, which spans 3 by 4 km, and is located 5 km northwest of the main Adriana copper zone.

Camino says Lidia “adds an entirely new type of exploration target to the property comprising a large area of copper and gold anomalism, which is extremely interesting.”

Camino has collected 238 rock samples in the Lidia area, and comments that “although somewhat selective in nature, [they] collectively average 0.20 gram gold per tonne and 0.75% copper, with individual samples returning values of up to 11.1 grams gold and 23.4% copper.” This mineralization is hosted within stockwork quartz veins, some of which are associated with zones of shearing and brecciation within the host monzonite.

This year’s exploration program at Los Chapitos will further examine the Lidia zone and identify possible drill targets for a drill program. The work will include geological mapping, channel and or trench sampling, and geophysical surveying.

CARUBE COPPER

Personnel in the field at Carube Copper’s Main Ridge gold project in Jamaica.Photo by Carube Copper.

Led by president and CEO Stephen Hughes, Toronto-based Carube Copper (TSXV: CUC) is focused on exploring and developing copper and gold projects in Jamaica and Canada.

In Jamaica, Carube holds full interest in 11 licenses totalling 535 sq. km, while in Canada, it holds full interest in three porphyry copper-gold-molybdenum properties totalling 492 sq. km, within the Tertiary-aged Cascade magmatic arc of southwestern British Columbia.

In mid-March, Carube reported that it had received 500,000 shares of newly listed, Calgary-based Tocvan Ventures (CSE: TOC) and been paid $25,000, pursuant to an option agreement struck in May 2018, whereby Tocvan has an option to acquire up to an 80% interest in Carube’s Rogers Creek Property, which covers 212 sq. km in the Lillooet mining district in the Cascade magmatic arc, 90 km northeast of Vancouver.

In January, Carube reported from its ongoing surface exploration program at its Main Ridge project in Jamaica, with assay results from recent soil and rock sampling over the eastern area of the property. Carube says mapping and prospecting in conjunction with a grid-based soil sampling program and follow-up rock channel sampling has found high-grade, copper-silver mineralization along the Rio Minho Valley, located northeast of and parallel to the Bennett gold zone.

Channel sampling highlights include: the Cobre Verde prospect, returning 16 metres of 1.22% copper and 7.8 grams silver per tonne; the Lime Valley prospect, returning 2 metres of 6.07% copper and 19.4 grams silver; and the Trout Hall prospect, returning 6 metres of 2% copper.

COPPER FOX METALS

Drill roads on Mt. Lacasse at the Schaft Creek copper property in B.C. in 2011-12. Photo by Copper Fox Metals.

Calgary-based Copper Fox Metals (TSXV: CUU; US-OTC: CPFXF) is focused on exploring and developing copper projects in Canada and the U.S. — most notably its 25% interest in the Schaft Creek joint venture with Teck Resources (TSX: TECK.B; NYSE: TECK) on the Schaft Creek copper-gold-molybdenum-silver project in northwestern B.C., and full ownership of the Van Dyke in-situ-leach, oxide copper project in Miami, Arizona.

In March, the company announced a $1.5-million, non-brokered private placement consisting of up to 13.6 million units at 11¢ per unit. Each unit consists of a share and half a warrant, with each whole warrant entitling the holder to buy another share for 13¢ during the first 12 months, or 15¢ during the second 12-month period.

In its first-quarter results, Copper Fox said that the multi-disciplinary team established by the Schaft Creek joint venture in 2018 to describe and characterize several development scenarios for the Schaft Creek deposit will continue its work in 2019. The joint venture plans to strengthen the project management team to complete more scoping-level engineering and design work based on the 2018 program to assess opportunities associated with a range of development scenarios, the focus of which is to improve financial returns over those outlined in a 2013 feasibility study.

The company adds that “positive exploration results from the Mineral Mountain and Van Dyke projects strongly suggest that additional exploration work is warranted on both projects.”

COPPER MOUNTAIN MINING

The crusher circuit in operation at Copper Mountain Mining’s namesake copper mine in British Columbia. Photo by Copper Mountain Mining.

Copper Mountain Mining (TSX: CMMC; US-OTC: CPPMF) is a single-asset copper producer, with its Copper Mountain mine in southern B.C., which produces 90 million lb. copper equivalent per year.

The Vancouver-based company says that with a 5,000-tonne mill expansion to 45,000 tonnes per day and integration of the New Ingerbelle pit, the Copper Mountain mine is expected to have a 26-year mine life and produce an average of 116 million lb. copper equivalent per year.

The rosier numbers come from a new integrated mine plan unveiled February 2019, which was highlighted by a 102% increase in reserves; a 27% increase in anticipated average annual copper equivalent production to 116 million lb.; a 12-year mine-life extension; and a decrease in C1 cash costs to US$1.87 per lb. produced, compared to numbers filed in November 2018.

The new mine plan is a phased approach, with the first phase being the plant expansion, which would require installing a third ball mill and could be completed as early as 2020 and would cost US$25 million. The second phase would be developing New Ingerbelle, which requires capital of US$23 million.

The after-tax net present value of the new plan is US$619 million at an 8% discount rate.

Meanwhile, Copper Mountain Mining says it has a “robust development organic growth pipeline” that includes the permitted, development-ready Eva copper project in Queensland, Australia, which could contribute another 100 million lb. copper equivalent per year, when in production.

GT GOLD

The camp at GT Gold’s Saddle gold property in northwest British Columbia. Photo by GT Gold.

Led by president and CEO Steve Burleton and vice-president of exploration Charles J. Greig, junior explorer GT Gold (TSXV: GTT; US-OTC: GTGDF) says it is “advancing the most important new gold-copper discoveries in the northern part of British Columbia’s rich Golden Triangle since the discovery of the nearby Red Chris deposit,” with GT Gold’s discoveries collectively held within the wholly owned, 432 sq. km Tatogga gold property.

The Vancouver-based firm describes the Saddle discovery area, located up a valley just 10 km off Highway 37, as a combination of shallow, bulk-tonnage-style gold at surface, and, just below, deep, high-grade underground-style gold at Saddle South, with a massive new copper-gold-silver porphyry system “right next door that is reminiscent of Red Chris.”

GT Gold has been developing the various grassroots Saddle gold-silver-copper prospects since 2011, and in March said it was still planning its 2019 drilling campaign at Tatogga.

In tabling its final results from 2018, GT Gold said that the program “was successful in extending the high-grade epithermal system discovered in 2017 along strike by several hundred metres, and to a similar depth beneath largely covered and untested areas east and west of Saddle Ridge. High-grade intercepts within numerous broadly mineralized intervals continue to increase the extent of the Saddle South mineralized system.”

PERUVIAN METALS

Toronto-based junior Peruvian Metals (TSXV: PER; US-OTC: DUVNF) changed its name from Duran Ventures in September 2018 to better reflect its focus on completing the final stages of commissioning its mineral processing plant in northern Peru and developing its exploration property portfolio in the country.

Directors and officers of the company include: Jeffrey J. Reeder, chairman and CEO; John P. Thompson, director; Steve Brunelle, director; William R. (Rick) Brown, director; Oscar Franciso Pezo Camacho, director; and Daniel Hamilton, chief financial officer.

Peruvian Metals owns an 80% interest in the Aguila Norte process plant, located just off the Pan American highway near the large city of Trujillo in northern Peru.

The company says “abundant small-scale mining activity occurs in northern Peru, but there are very few independent processing facilities available. The Aguila Norte mineral processing plant hosts crushing, milling, gravity separation and flotation circuits, with an initial throughput capacity of 100 tonnes per day. Peruvian Metals anticipates feeding high-grade polymetallic and precious-metal sulphide minerals through the process plant to deliver high-value concentrates available for sale to the Peruvian metal trading market.”

Peruvian Metals then expects to fund plant expansion via internal cash flow from the plant.

The junior’s exploration properties in the country include the Mamanina porphyry copper project; the Panteria copper-molybdenum-gold project; and the Minasnioc epithermal gold-silver project.

SEABRIDGE GOLD

Drilling at Seabridge Gold’s KSM gold-copper project in B.C. in 2017. Photo by Seabridge Gold.

Seabridge Gold (TSX: SEA; NYSE: SA) continues its work advancing some of North America’s largest gold-copper deposits, most notably the KSM and Iskut properties near Stewart, B.C.., and the Courageous Lake gold project in the Northwest Territories.

In March, Seabridge substantially boosted the resource estimate for the Iron Cap deposit, which is one of four large gold-copper porphyry deposits within its wholly owned KSM project. The new resource figure incorporates all previous drilling, plus 20,341 metres of diamond core drilling completed in 18 holes during 2018.

Iron Cap’s indicated resources now stand at 423 million tonnes grading 0.41 gram gold per tonne, 0.22% copper, 4.6 grams silver per tonne and 41 parts per million molybdenum, while inferred resources have swelled to 1.9 billion tonnes at 0.45 gram gold, 0.30% copper, 2.6 grams silver and 30 parts per million molybdenum.

Seabridge says the new resource estimate has “achieved the targeted size and grade, which are likely to warrant moving the Iron Cap deposit ahead of the Kerr and Sulphurets deposits in the project’s mine plan.

Chairman and CEO Rudi Fronk said that Seabridge’s “exploration success at Iron Cap over the past two years gives us greater flexibility to optimize project economics. Iron Cap is closer to infrastructure than Kerr and Sulphurets, and its development could be faster and less costly. Within the 1.9 billion tonnes of inferred resource, there exist significantly higher-grade underground cave opportunities with substantial tonnage. Iron Cap clearly has the size and grade to justify early inclusion in the mining sequence. From our point of view, this is mission accomplished.”

Fronk also said these resource additions once again have met the junior’s annual corporate objective of increasing gold ownership on a per-share basis, noting that Seabridge added 460,000 oz. indicated gold resources and 7.5 million oz. inferred gold resources from our 2018 program.

This story first appeared in The Northern Miner on April 6, 2019.

The post Copper Snapshot: Eight companies hunting for the red metal appeared first on MINING.com.

David Erfle – Gold Market Commentary – Thu 11 Apr, 2019

A discussion on the metals markets. What’s holding it back and what can drive the stocks.

David Erfle, Founder of The junior Miner Junky joins me for a discussion focused on the metals sector. We look at the investor sentiment and how certain regulations are making it harder for companies to raise money. We also touch on the currency markets and how the underlying PM prices are impacted by moves in the US Dollar. David wraps it up with a couple companies he owns that are moving higher.

Click here to visit David’s site and at least sign up for his free newsletter.

Phil O’Neill – MP1 Captial – Wed 3 Apr, 2019

Are The Summer Doldrums Here Already and Comments On A Couple Companies

Phil O’Neill, President of MP1 Capital joins me to shares his thoughts on the overall resource stock sector. What everyone is wondering is will the recent pullback in metals stocks be the early start of the summer doldrums. We also look into volumes in the sector and discuss how Phil manages his investments even when companies have little to no volume. To wrap it up we look at a couple companies. The first being Auryn Resources and the second being an oil company operating in Thailand – Pan Orient Energy.

Click here to visit Phil’s site and read his full report on Pan Orient Energy.

Company Updates From Management – Wed 27 Mar, 2019

Palamina Corp – Updating The Investor Interest In Peru and Current Work Plans

Palamina Corp holds land in the Puno Gold Belt in Peru that is garnering a lot of attention in the marker right now. With Miramont and Auryn currently exploring in this area as well I wanted to get an update from Palamina on its work plans for this year.

Andre Thompson, President and CEO of Palamina joined me to share his thoughts on this renewed investor interest in the Country. We discuss the process of getting permits to drill and what the Company is planning in terms of exploration.

Click here to visit the Palamina website and read over the full Company Presentation.

Be email me with any follow up questions or comments on Palamina – Fleck@kereport.com. I am happy to answer any of your questions or pass them on to Andrew. In full discloser I am a shareholder of Palamina.

Weekend Show – Sat 9 Mar, 2019

Hour 1 – Post-PDAC Rumors, Themes, and Company Updates
Full First Hour

The first hour of this week’s show is focused on recapping the recent PDAC conference and a couple comprehensive company updates. While the metals market, in terms of the stocks, is still very selective there are some developing stories that still offer opportunities. Listen to the first two segments and you will hear some of the same names being mentioned.

Please email me with any company suggestions and/or questions and topics you would like for me to discuss – Fleck@kereport.com. I love hearing from all of you!

  • Segment 1 – Byron King recaps his PDAC and shares some of his thought on investing in a producer with exploration upside.
  • Segment 2 – David Erfle, Founder of The Junior Miner Junky has some insights on the rumors from PDAC how the gold market is “a tail of two markets”.
  • Segment 3 – Jeff Hussey, President and CEO of Osisko Metals provides a comprehensive update. We discuss the maiden resource at the Eastern Bathurst Mining Camp, exploration plans for this year, and answer your questions about potential water issues at Pine Point.
  • Segment 4 – Ivan Bebek, Executive Chairman of Auryn Resources answers your questions about a potential Company split, Peru exploration plans, and what is happening at Committee Bay.

Byron King
David Erfle
Jeff Hussey – Osisko Metals
Ivan Bebek – Auryn Resources

Industry News – Wed 6 Mar, 2019

Questions for Auryn Resource or Osisko Metals – Please Send Them In!

I will be chatting with Ivan Bebek, Executive Chairman at Auryn Resources and Jeff Hussey, President and CEO at Osisko Metals on Friday. Please send me your questions to Fleck@kereport.com.

Here are the recent Auryn news releases…

February 19, 2019 –New Targets Identified through Machine Learning at Auryn’s Committee Bay High-Grade Gold Project

February 15, 2019 –Auryn Appoints Jeffrey Mason to its Board of Directors

February 13, 2019 –Auryn Resumes Trenching at Sombrero Copper-Gold Project

January 30, 2019 –Auryn Applies Machine Learning for Targeting High-Grade Gold at Committee Bay

January 7, 2019 – Auryn Identifies Significant Copper Mineralization at New Prospect Near Sombrero

Here are the recent news releases for Osisko Metals…

March 3, 2019 – OSISKO METALS INTERSECTS 18.66% ZINC+LEAD OVER 20.73 METRES AT PINE POINT

February 20, 2019 –OSISKO METALS RELEASES MAIDEN MINERAL RESOURCE ESTIMATE FOR EASTERN BATHURST MINING CAMP PROJECT

February 12, 2019 –OSISKO METALS INTERSECTS 9.15% ZINC + LEAD AND 0.54% COPPER OVER 10.0 METRES AT TITAN ZONE, KEY ANACON

February 7, 2019 –OSISKO METALS INTERSECTS 12.64% ZINC + LEAD AND 0.19% COPPER OVER 20.70 METRES AT KEY ANACON – MINERAL RESOURCE ESTIMATE EXPECTED IN Q1

January 29, 2019 –OSISKO METALS INTERSECTS 14.87% ZINC+LEAD OVER 12.74 METRES AT PINE POINT AND GRANTS STOCK OPTIONS

Company Updates From Management – Thu 10 Jan, 2019

Auryn Resources – A Comprehensive Update for 2019

Auryn Resources has another busy year ahead of it as the Executive Chairman Ivan Bebek outlines. We discuss plans from Sombrero and Committee Bay as well as the overall gold market environment. Also Ivan outlines the possible budgets for each project.

If you have any follow up questions for Ivan or I please email me at Fleck@kereport.com.

Ivan Bebek – Auryn Resources Update

Click here to visit the Auryn Resources website.