Nevada Gold Miners

7 posts / 0 new
Last post
TheGoodDoctor
TheGoodDoctor's picture
Offline
Joined: 06/14/2011
Hat Tips: 11941
Posts: 1286
Nevada Gold Miners

Hi all, I'd like to start a discussion regarding Nevada gold miners. I think this mining jurisdiction has some undervalued potential when the miners start to boom on an elevated gold price.

List your favorites and discuss.

I like Evolving Gold and America's Bullion Royalty Company (formerly Golden Predator).

Others I am interested in include: Rye Patch Gold, Midway Gold, Comstock Mining, Paramount Gold and Silver and of course Allied Nevada.

For the big guys I'm sure many of you are aware that Newmont and Barrick have a large presence in Nevada too.

Thanks for your participation.

Edited by admin on 11/08/2014 - 06:19

__________________

“Gold is the money of kings; silver is the money of gentlemen; barter is the money of peasants; but debt is the money of slaves.” Norm Franz

firstsilver
firstsilver's picture
Offline
Joined: 06/14/2011
Hat Tips: 1300
Posts: 208
Re Evolving gold and America's Bullion

Own and have owned Evolving gold for a long time. Way under water and have severely reduced my holdings. The company is a serial over-promiser and under-deliverer. They've blown it for years and I'm not sure there's enough money in the coffers to survive until this gold and silver junior death march ends.

What attracts you to Evolving gold??

As for Americas' Bullion Royalty, I bought it as Golden Predator on the premise that the restart of Brewery Creek heap leach pads would fund exploration. Now Brewery Creek is abandoned and the company is fighting the charge of breach of a loan provision that would allow the creditor to claim bullion royalty deals. Again, I wouldn't touch this one with fresh money.

Have been considering Rye Patch now that the froth over the potential settlement with CDE is passing with numbers that disappointed the speculators. I like the cash position, but several analysts are touting the stock and I haven't had my bid hit for .18-plus, so still waiting.

Saw a headline about a massive downgrade of Allied Nevada recently, but never got around to reading it

rock collector
rock collector's picture
Offline
Joined: 06/14/2011
Hat Tips: 2216
Posts: 178
Rye Patch Gold & Klondex Mines

Bought a starter position in Rye Patch today at .193. at the open today.
I have been stumbling across similarly positive analyst comments on RPMGF.
My lower bid of .183 did not hit last Friday.

Rye Patch Gold has a 1.0 (highest) rating on Bill Matlack's latest Metals and Mining Analyst Ratings Juniors (updated weekly at Kitco) as of July 22 (today).

I also like and still own shares of Klondex Mines Ltd. KLNDF
Market cap of  $77 Million.
Current share price of $1.24  (my cost basis is $1.95 so I have some waiting to do)
Rated 1.8 on Matlack's above mentioned ratings. 
PE is projected to be very low from 2014 - 2016.

More info here:
Klondex Mines Ltd.'s principal property is the 100% owned Fire Creek Property. The Company holds mineral interests in approximately 18,000 acres in the prime area of northern Nevada's gold mining corridor, with total land holdings in excess of 21 square miles. Fire Creek property comprises 11,208 acres (17.5 square miles) and is located in the Crescent Valley area of the Battle Mountain gold belt. The Company has a 100% ownership interest in 42 claims (840 acres) in Corral Canyon, Lander County, Nevada. The Company holds a 66.66% interest in 48 claims in the Schroeder Mountain quadrangle.

rock collector
rock collector's picture
Offline
Joined: 06/14/2011
Hat Tips: 2216
Posts: 178
Klondex Mines Yields 1,435 Tons of 119.8 g/t Gold in June
July 29, 2013

Klondex Mines Yields 1,435 Tons of 119.8 g/t (3.49 opt) Gold in June Underground Development Program

ELKO, NV and VANCOUVER, BC--(Marketwired - Jul 29, 2013) - Klondex Mines Ltd. (TSX: KDX) (OTCQX: KLNDF) a Nevada gold exploration and development company, today reported that its underground development program targeting the Joyce and Vonnie structures yielded 1,302 tonnes (1,435 tons) of mineralized material during June at an average grade of 119.8 g/t (3.49 opt) Au using a 1,714.7 g/t (50 opt) cap on Au sample results. Details of the grades encountered along the Joyce and Vonnie structures sampled in June are outlined in press releases dated June 27, 2013 and July 10, 2013. The underground development program is expected to continue through the remainder of 2013. Assays were performed by SGS Minerals Services of Elko, Nevada (an independent laboratory), under the supervision of Klondex staff.
June's 1,435 tons are in addition to 682 tons in May, for a total of 2,117 tons that will be shipped to Newmont for processing; initial payments are expected in August (see press release below).
July 26, 2013

Klondex Secures Agreement to Treat and Test High-Grade Material

ELKO, NV and VANCOUVER, BC--(Marketwired - Jul 26, 2013) - Klondex Mines Ltd. (TSX: KDX) (OTCQX: KLNDF) is pleased to announce that it has entered into an agreement with Newmont Mining Corp. (NYSE: NEM) to begin processing Klondex's higher grade mineralized material from the Fire Creek gold and silver project in Nevada this month.

Under the agreement, Newmont is responsible for the handling, milling and refining of minerals as well as tailings disposal, and Klondex is responsible for delivering the material. Shipments will be in lots of 1,000 tons up to 9,000 tons in 2013; the shipments may continue as needed through the end of 2014 as high grade material is generated. The first shipment of 1,000 tons is scheduled to begin in August 2013 and processing is expected to follow immediately upon receipt of the first lot.

An initial partial upfront payment of 60% will be paid to Klondex by Newmont, based on Newmont assays. The 40% balance will be paid based upon finalization of settlement assays. The first payment from processing is expected in August 2013.
 

rock collector
rock collector's picture
Offline
Joined: 06/14/2011
Hat Tips: 2216
Posts: 178
Klondex Mines - safe jurisdiction, high grades, good mgmt.

Time and again we hear that Nevada is a miner friendly and relatively safe jurisdiction. Something like 80% of the gold mined in the U.S. comes from Nevada.

The Gold Report - http://www.theaureport.com/pub/co/717
 Expert Comments:

Marc Pais, MGI Securities (7/29/13) "Today, Klondex Mines Ltd. reported that underground development work at the Joyce and Vonnie vein structures yielded 1,435 tons of mineralized material at an average grade of 119.8 g/t (3.49 oz/t) gold. Last week the company announced that it had secured bridge loans totaling $2.4M, and had also secured an agreement with Newmont Mining Corp. to begin processing its higher grade mineralization. . .we believe that today's production results indicate that Klondex is now well on the way to becoming a self-sustainable, profitable mining company."

Oliver Turner, GMP Securities (7/29/13) "Klondex Mines Ltd.'s underground development yielded over 5 Koz in June; a total of 1435 tons grading 119.8 g/t was extracted during its underground development and sampling program at Fire Creek in Nevada. . .the 3.5 oz/t average grade of ounces extracted during June continues to demonstrate the high-grade nature of the veins at Fire Creek. The ±6 Koz from these two months are expected to be shipped to Newmont for processing, generating cash for Klondex to continue development underground as well as add a second underground drill to follow up on recent discoveries."

The Gold Report Interview with Ralph Aldis (7/24/13) "Klondex Mines Ltd.'s stock is up 25% over the last three months, and the average stock in the exploration and development space is down 25%. The company must be doing something right. . .Klondex recently put out a news release indicating that its resource, an underground drift at its Fire Creek project in Nevada, is basically 132.8 g/t over 144.2 meter strike. It already has 2 Moz at 9.95 g/t. It is high quality and high grade and in the politically safe jurisdiction of Nevada. We're the third-largest shareholder. None of the top three shareholders has to raise any cash to meet redemptions. That stock won't have any selling pressure, but you can still buy it for $70M. I don't know where you can buy 2 Moz at 9.95 g/t for $70M." More >

Barry Allan, Mackie Research Capital (7/22/13) "We thought it would be important to stress test our models and take a look at our coverage list in a much harsher environment, in this case using a long-term gold price of $1,000/oz and long-term silver price of $18/oz. . .although we have only included near-term producers in our stress testing, one that stands out continues to be Klondex Mines Ltd. due to its high-grade Fire Creek project. Fire Creek continues to generate good levels of cash flow, provided that the grade remains above 9.5g/t (or mining/milling costs are lowered)."

Derek Macpherson, M Partners (7/18/13) "We are initiating coverage of Klondex Mines Ltd. with a Buy rating. . .as Klondex demonstrates its ability to generate cash in the near term, thereby by funding the development needed to ramp-up operations, the company's share price should benefit. . .the company's planned metallurgical testing program and subsequent bulk sample should allow it to generate $25.5M cash flow net of mining costs over the next 15 months. . .recent financings used to clean-up the balance sheet combined with near-term cash flow has Klondex uniquely positioned to organically fund the next stage of growth. . .management's experience is suited to Fire Creek."

rock collector
rock collector's picture
Offline
Joined: 06/14/2011
Hat Tips: 2216
Posts: 178
Gold Standard Ventures Corp. - Focus on gold discovery in Nevada

I was sufficiently interested in this Nevada explorer to take a starter position today at .60 share.
Check out the commentary at the Gold Report http://www.theaureport.com/pub/co/2405

From the company website: http://goldstandardv.com/
Gold Standard Ventures (NYSE – GSV, TSX.V – GSV) is an advanced stage precious metals exploration company focused on Nevada. The Company’s flagship project, the 100% owned/controlled Railroad Gold Project, covers approximately 22,000 acres within the prolific Carlin Trend, adjacent to Newmont’s Rain and Emigrant mines, 29 miles west of Elko. Gold Standard is now the third largest landholder in the Carlin Trend, larger than any other junior explorer. The Carlin trend is home to Newmont’s and Barrick’s cornerstone mines and is the most prolific gold mining belt in the Western Hemisphere.

The Railroad project hosts 6 miles of the Bullion Fault Corridor, a major gold-mineralized feature in which the Company has made a significant new gold discovery, the North Bullion Fault Zone. The Company is moving towards building a 43-101 compliant gold resource at North Bullion while also exploring for additional discoveries along the Bullion Corridor.

Gold Standard Ventures is led by an experienced management and technical team that have a proven discovery track record within the Carlin Trend. Led by Dave Mathewson, ex-Chief of Exploration for Newmont Nevada, the team is applying proven gold exploration methods.

From Schwab:
..... It is focused on district scale gold discoveries within Nevada. Its project includes Crescent Valley North Project (CVN), Safford (WFW) Project, Robinson Creek Project, Indian Creek Project, Railroad Project and Camp Douglas Project. The CVN Project is an early exploration-stage prospect located in Eureka County, Nevada, approximately 15 miles south-southwest of the town of Carlin and 35 miles southwest of Elko. Safford mineralization is consisted of silver and copper mineralization in shear zones and siliceous, baritic, sulfidic breccias. The Railroad Project is located within the northern Pinon Range about 30 miles southwest of Elko, Nevada. As of December 31, 2011, the Camp Douglas Project consists of 18 patented mineral claims, 277 unpatented mineral claims and one fee parcel totalling approximately 5,026 acres in the Walker Lane Trend in Mineral County, Nevada.

rock collector
rock collector's picture
Offline
Joined: 06/14/2011
Hat Tips: 2216
Posts: 178
Comstock Mining Announces Third Quarter 2013 Results

(Comstock Mining added to my portfolio today.)
 

Comstock Mining Announces Third Quarter 2013 Results

8:01 AM ET, 10/31/2013 - PR Newswire

VIRGINIA CITY, Nev., Oct. 31, 2013 /PRNewswire/ -- Comstock Mining Inc. (the "Company" or "CMI") (NYSE MKT: LODE) today announced selected unaudited financial results for the quarter ended September 30, 2013. Comstock's Chief Executive Officer, Corrado De Gasperis commented, "Our ramp up and productivity gains have yielded record production for the quarter, including a 39% increase in silver shipments over the prior quarter. The issuance of the expanded Water Control Permit quadruples our permitted capacity and positions us well to double our revenue for next year, significantly reduce our unit costs and, most importantly, generate positive cash flow. We are building an extraordinary business through production and development growth and land expansion, all while running a most responsible Nevada-mining enterprise."

2013 Third Quarter Highlights

Mining revenue from gold sales for Q3 2013 was $6.6 million, as compared to $6.8 million for Q2 2013. Gold shipments were 5,214 ounces in Q3 2013, a 6% increase as compared to 4,921 ounces in Q2 2013. Silver shipments were 59,731 ounces in Q3 2013, a 39% increase as compared to 42,992 ounces in Q2 2013. Gold and silver shipments both represent record highs for the Company. Initial production ramp-up phase was completed, exceeding initial targeted production rates of 400 gold equivalent ounces per week in Q2 and Q3, and over 500 gold equivalent ounces per week in September. The Company added 16% more ounces of gold to inventory, 6,088 ounces, as compared to 5,265 in Q2 2013, resulting in approximately 12% lower average inventoried cost per ounce at September 30, 2013. Net loss for Q3 2013 was $4.5 million, or $(0.09) per common share as compared to $9 million for Q3 2012, or $(0.24) per common share. The decrease of $4.5 million resulted primarily from a $6.6 million increase in mining revenue, a $4.2 million decrease in all other operating and other expenses, offset by $6.4 million of costs applicable to mining. Costs applicable to mining were approximately $6.4 million, a $1.8 million decrease from the prior quarter, primarily driven by the elimination of redundant costs associated with temporary use of the state route and longer haul routes and inventory write-downs to realizable market value not occurring in the current quarter. Operating expenses, excluding costs applicable to mining, totaled $4.9 million for Q3 2013, as compared to $8 million for Q3 2012. The $3.1 million decrease was primarily due to a $2.6 million reduction in exploration and reclamation costs as the Company shifted into full production and a $.5 million reduction to administrative, including compensation, and legal costs.

2013 Year-to-Date Highlights

Received Special Use Permit Modification from Storey County for Heap Leach Pad Expansion Received Water Pollution Control Permit from State of Nevada NDEP that increases the amount of mineralized material the Company may process from 1 million tons per annum to 4 million tons per annum, enabling the planned production rate to double to 40,000 gold equivalent ounces in 2014. Received Lyon County Approval for Reversion of Acreage on our Dayton Mine Property Net cash used in operating activities for the nine months ended September 30, 2013 was $11.5 million, versus $17.8 million in the comparable prior period. The $6.3 million decrease resulted primarily from a lower net loss of $9.5 million less a higher use of cash of $2.5 million for working capital, including debt reductions from gold transfers. Net cash used in investing activities for the nine months ended September 30, 2013, was $2.7 million, versus $10.7 million in the comparable prior period. The $8.0 million decrease resulted primarily from the reduced purchases of plant and equipment associated with last year's construction of mining infrastructure offset by $1.4 million used for productivity investments during Q2 2013 and $1.1 million for increased cash bonding for the nine months ended September 30, 2013, as compared the comparable prior period. Total debt, excluding capital leases, was $6.4 million at September 30, 2013, as compared to $13.7 million at year-end 2012. The decrease of $7.3 million was primarily due to the full payoff of $5.4 million previously drawn on the Revolving Facility and the $2.2 million reduction of Caterpillar finance loans. Cash and cash equivalents were $5.9 million, with the $5 million Revolving Facility paid off during the third quarter. The Company has received improved, indicative terms for a new revolving facility.

Production Expansion

The Company has recently transitioned into production in the Lucerne Mine and ramped up to the targeted 20,000 gold-equivalent-ounce annual production rate and exceeded that rate during both the second and third quarters of 2013, averaging over 400 gold-equivalent ounces per week for the quarter ended September 30, 2013, and over 500 ounces per week in September. This intermediate target was exceeded and sustained by maximizing production under existing permitted capacity constraints around our heap leach and processing facility. The Company's existing heap leach is currently being expanded based on the recent receipt of all required permits, including the recently received, key Water Control Permit. This permit increases our authorized capacities and processing rates from a previous maximum of 1.0 million tons per annum to 4.0 million tons per annum.

Mr. DeGasperis continued: "Nevada continues to represent one of the most supportive mining jurisdictions in the world, with world class regulation and thorough due process. We are pleased with the diligence of NDEP-BMRR's process, prioritizing public safety while supporting the advancement of our business. This is a critical permit modification that enables our production expansion goals for the remainder of this year, next year and beyond. We will move expeditiously to complete our current heap leach expansion from five to eight cells, to increase our rates of production and significantly reduce our unit costs associated with producing our planned 40,000 gold equivalent ounces for next year."

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Topic locked
Syndicate contentComments for "Nevada Gold Miners"