Juniors with Near Term Production

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#1 Wed, Jul 20, 2011 - 2:33pm
metcoalfan
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Juniors with Near Term Production

Looking to crowdsource a list of nano cap junior (market caps in the 50 mm range or less) miners that are fully funded and within 6 months of production for purposes of doing additional dd on this sweet spot in the market.

Right now I'm looking at:

RX Exploration - just finished nasty proxy fight, and I don't believe a firm outline of 'commercial' production has been officially stated, especially as new mgmt has recently taken the helm, but details were released during the proxy fight that they are currently doing in the neighborhood of 2 million in gold sales a month during what they are still calling test mining. That's close enough for me.

Metanor - shaft work is probably over 90% complete at this point, at which time 5,000 bulk ton test run will be done, mill already on site.

American Bonanza - just starting to look, claim to be a few months away.

Gryphon Gold - announced gold sales to start as soon as October.

Additions would be most welcome.

Edited by: metcoalfan on Nov 8, 2014 - 5:20am
Wed, Jul 20, 2011 - 3:11pm
metcoalfan
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Fire River Gold

Fire River started their mill July 4th, commerical production by October. No position, just found it....for now just trying to build up a list. 

Wed, Jul 20, 2011 - 3:32pm (Reply to #2)
Prem124
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Some more near term on AIM/LSE market

Shanta Gold are fully funded and have decent upside. Their first mine is expected to start in Dec 2011. They trade on AIM market only (LSE).

Wed, Jul 20, 2011 - 4:14pm (Reply to #3)
metcoalfan
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2 more

Scorpio Gold - entered production this month - though market cap is closer to 80 million, so technically a small micro cap

Tirex Resources - JV to provide capital for copper gold VMS mine in Albania? I didn't know there was gold there. Claimed to be 6 months from production 3 months ago. Small o/s with 50 mm o/s, though I've not doubled checked with Sedar.....want to build a list first, and then go back and construct a table of relevant comps.

Prem124 - you know of any good ways to play the AIM market from outside the UK? Hardly any of the AIM listings trade as foreign ordinaries in the States. Very few from Australia as well. Hard (so far impossible) to get direct access to foreign markets from retirement accounts.

Wed, Jul 20, 2011 - 4:21pm (Reply to #4)
Prem124
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Not sure

I am not sure but I am from UK and use TD Waterhouse. It allows me access to several exchanges including AIM, TSX, ASX. To be honessed I feel TSX has some very good undervalued shares at the moment.

Wed, Jul 20, 2011 - 5:01pm (Reply to #5)
metcoalfan
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I agree - that some of the

I agree - that some of the deep values still exist is mind boggling - except for the fact that there are just seemingly thousands of prospects, and too little time to wade through them all, so thankfully, some drift just off the radar longer than they should. I like the nano and small micro caps that are going into production as production can provide the catalyst to attract a critical mass of attention. But finding them first can be like finding a needle in a haystack, so I like to find screens to find prospects. Well crafted google searches and a new technique I've just started which is finding huge winners, like ATAC resources or Great Quest Metals, then going back on the Stockhouse message boards and seeing which posters were correctly identifying the potential before they started to run....then looking up their profiles to see what they like right now - not foolproof, but it whittles down the huge list of miners out there. I've followed Turd ever since I noticed he posted some of the best comments on ZH, followed the blog without ever posting, but just found the Forums section on the site a few days ago. For 10 years, I've always felt that message boards/forums where among a retail investors most powerful tools for identifying prospects. Lifetime trades are lurking out there - you never really know how you will trip over it.

Wed, Jul 20, 2011 - 5:23pm
bobby
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metcoalfan

doubled up on Fire River this week, lots of good stuff happening like refining contracts for their production, 70/30 gold to silver, this one is gonna be fun

https://www.firerivergold.com/s/Home.asp

Wed, Jul 20, 2011 - 5:56pm
Eric Original
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Good thread.  I'll be

Good thread. I'll be watching.

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Wed, Jul 20, 2011 - 6:08pm
Eric Original
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.

.

double post, not sure why....

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Wed, Jul 20, 2011 - 6:13pm
Eric Original
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Armistice Resources

AZ, AISCF

Aiming to start up their McGarry Mine by year end at a 25,000 oz rate.

The real sizzle here is the adjacent Kerr-Addison Mine. Former 11 million oz producer now mothballed. Plenty of drilling to do there.

https://www.armistice.ca/Press%20releases/Corporate%20Presentation.pdf

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Wed, Jul 20, 2011 - 7:06pm (Reply to #10)
bobby
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Eric Original

have you an opinion on Sutter Gold Mineing?

SGMNF

https://www.suttergoldmining.com/s/home.asp

Thanks, really respect your work You've helped me already without knowing it.

bobby

Wed, Jul 20, 2011 - 7:49pm (Reply to #11)
Eric Original
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bobby wrote: have you an

bobby wrote:

have you an opinion on Sutter Gold Mineing?

SGMNF

https://www.suttergoldmining.com/s/home.asp

Thanks, really respect your work You've helped me already without knowing it.

bobby

Just took a quick peek at it. Honestly it all looks really good to me. Management is solid. Only two concerns:

  1. I was concerned about financing, but then saw that they do have it arranged. Still, I think you'd want to dive into the terms of it and get comfortable. It's a gold loan situation, so basically a lot of their future production is now already sold, at what appears to be a fixed price. They have news releases about it in June and July. I only really looked for a few minutes, but if you can dive into it a bit and get comfortable with the terms of the loan, then I think you've got a green light.
  2. They do have a few final permits to get yet. Sometimes that can more of a problem than expected. But still, I don't think this management team would be plunging full speed ahead on financing and construction without being pretty confident about the last permits.

Interesting pick! I'll be watching. Good Luck.

This isn't a metals blog anymore. It's a right wing circle jerk, masquerading as a metals blog.
Wed, Jul 20, 2011 - 8:02pm
bobby
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thanks pal!

It's stuff like that which is why I come here!

I'll try to contribute more

Thu, Jul 21, 2011 - 10:04am
metcoalfan
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3 more...sorta....

These 3 have entered production, not necssarily recently, but are still nano/small micros

Atna Resources - just found this one, don't know much about it - see a 'gold loan' on the books, need to check that out.

Starcore Int'l - they definitely have a gold loan, but it should be paid off in under 18 months via production

New Guinea Gold - they claim to be in production, but it looks more like test mining to me at those levels. NGG is actually one I'd like to start a new thread on in the near future - Gold Shares with Large Stashes of Marketable Securities. NGG has its market cap covered with shares of other public companies, which make the mine free - but I don't know much about their mine/projects.

Caledonia Mining - they are doing 40k oz with a 50 mm market cap. In Zimbabwe. hmmmm.

If anyone is familiar with these and can cut DD time when I get a long enough list, have at it, or add some new ones - there has to be a few dozen more that are still off the radar. I still like my explorers but would like to beef up on some cheaps with the ability to produce real cash flow in the event of a credit seizeup that would make it difficult for those without production, or at least fully funded very near term striking distance of it, to fully capitalize.

Thu, Jul 21, 2011 - 11:02am
metcoalfan
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AZ

Armistice does indeed look interesting Eric. Was initially a little spooked to see a gold stream loan in there, but those are reasonable terms for value recieved. I sorta remember this one now that I see they broke a financing deal with Sprott to switch to the current package, from what I recall Sprott put up a fight and lost. Placeholder bets in on AZ and Fire River. Thx

Sat, Jul 23, 2011 - 7:49am
metcoalfan
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Bralorne

Hat tip to Eric. Bralorne poured their first oz last month. Trades at a buck.....but still a nano....reached production ( albeit small scale for now) with 30 odd million o/s......old school.

Sat, Aug 13, 2011 - 4:57pm
metcoalfan
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NWM Mining

NWM Mining. Entered production in May with a few hundred ounces, up to over 1000 in July, with claim to ramp to 40-45k for 2012. 400+ mm shares out, but .125 cents a share keeps them a nano cap for the time being. They could easily clear their entire current market cap with operating cash flow in 2012.

Sun, Aug 21, 2011 - 1:27pm
metcoalfan
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Timberline Resources

Timberline Resources Corporation (TSX VENTURE:TBR)(NYSE Amex:TLR)

Interesting little company, market cap just below 50 million. Primary exchange is AMEX and to tell the truth AMEX has more than its fair share of scummy companies, but there are always exceptions to the rule. I've only spent a few minutes so far, but they have a 50% carried interest in a project slated to begin production in 'early 2012'. They have a profitable mining contractor service 'on the side'.

Wed, Aug 24, 2011 - 11:51am
metcoalfan
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Alhambra Resources Ltd ALH

Market cap of 45 mm-ish, in production and projecting 20k oz in 2012 with costs around $650. They claim to have 37k oz with a carrying cost of 26 million sitting on the pad.....but it's in Kazakhstan...I think it will go in the revisit later pile.

Wed, Aug 24, 2011 - 12:48pm
metcoalfan
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OROSUR MINING INC - OMI:TSX-V

Market cap is closer to 90 million, and I really wanted to keep to 50mm or less, but Orosur is not an emerging producer, they've done 55k oz at 700ish for 2 years now....and most of the list so far is creeping above 50 and moving to the 50-100 range anyway. Mine is in Chile. Very impressive cash flow, especially on a ftm basis at current prices. Current mine life 5 years, haven't looked at exploration potential.

Wed, Aug 24, 2011 - 6:10pm
metcoalfan
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Alhambra

https://www.bloomberg.com/news/2011-08-23/kazakhstan-gives-central-bank-...

The obscure jurisdictions are starting to get a little bit scarier. That I wasn't even researching Kazakhstan and came across this I will take as an omen to scratch Alhambra.