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andreagillmer · 4 years ago

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What's Ahead for the Gold Market?

Source: Rudi Fronk and Jim Anthony for Streetwise Reports 11/12/2020

Rudi Fronk and Jim Anthony, cofounders of Seabridge Gold, look at the macroeconomic factors they believe will move gold higher.

The gold market entered a period of increased volatility during the third quarter, usually a positive indicator for the metal. A growing number of investors and analysts recommended the accumulation of gold as it began to move out of the shadows and into the spotlight. Global ETFs have now been net purchasers for 11 months in a row and central banks have also been net purchasers every month of this year except October when two nations liquidated some of their holdings to meet dollar requirements resulting from the COVID-induced economic crisis.

We see a further move higher in gold in the near term as the election log jam begins to clear. The election process curtailed new fiscal stimulus since July when direct transfers to individuals exhausted their Congressional approvals. This pause in fiscal stimulus, which took government transfer payments to an astonishing 25% of household income, coincided with a pause in gold's upward momentum. However, it is very clear that further stimulus is favored on both sides of the House and even a Republican Senate, if there proves to be one, will not prevent trillions more of fiscal stimulus.

The two main drivers of the gold price are the dollar and real yields. We expect both drivers to be positive in the coming year.

First, the dollar: The Fed will be forced to fund whatever expenditures the Congress approves. Foreign holdings are at 10-year lows as the largest sovereign purchasers became net sellers this year. We therefore expect Fed debt monetization to accelerate in the next few months with a negative impact on the dollar. It was a $3 Trillion expansion of the Fed balance sheet in March and April which, not coincidentally, equaled a sudden increase in the US deficit to $3 Trillion, that unleashed gold from its March low. Debt monetization is a formula for dollar weakness.

As for yields, the market narrative now favors a reflation trade due to the apparent success of the US Operation Warp Speed vaccine initiative. This has provoked the sale of Treasuries as hot money has moved back into stocks, driving up yields. We expect the Fed response to be aggressive: higher yields cannot be allowed to dampen the economic recovery. In our view, the Fed is very likely to cap yields, a policy that can only be implemented by more QE. Capping yields in unison with a reflation narrative means increased inflation expectations and lower real yieldsthe magic formula for higher gold prices. If yields cannot rise to attract and hold private capital, the Fed must buy more debt and the dollar must fall.

Remember that today's QE is not the QE post Great Recession which corralled the new money in the financial system, resulting in a muted response in terms of money supply growth and inflation. Today's QE is being mainlined into the real economy by way of direct transfer payments to individuals and business, forgivable loans and bailouts. Money supply is expanding at a blistering pace. The die has been cast and there is no turning back. Going forward, gold is the best protection for private wealth and there is not nearly enough of it to serve this purpose at current prices.

In a reflation scenario, inflation expectations rise significantly from low levels. With the rise in nominal yields capped by central bank QE, real yields fall. The relationship between real yields and gold is virtually perfect in recent years.

The growth in MZM money supply...the money available for immediate expenditure...has slowed(!) to 27.5% year over year, down from 30% two months ago, an unprecedented pace of money creation which is temporarily keeping the economy afloat.

This article is the collaboration of Rudi Fronk and Jim Anthony, cofounders of Seabridge Gold, and reflects the thinking that has helped make them successful gold investors. Rudi is the current Chairman and CEO of Seabridge and Jim is one of its largest shareholders.

Disclaimer: The authors are not registered or accredited as investment advisors. Information contained herein has been obtained from sources believed reliable but is not necessarily complete and accuracy is not guaranteed. Any securities mentioned on this site are not to be construed as investment or trading recommendations specifically for you. You must consult your own advisor for investment or trading advice. This article is for informational purposes only.

Disclosures: 1) Statements and opinions expressed are the opinions of Rudi Fronk and Jim Anthony and not of Streetwise Reports or its officers. The authors are wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the content preparation. The authors were not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the authors to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. 2) Rudi Fronk and Jim Anthony: we, or members of our immediate household or family, own shares of the following companies mentioned in this article: Seabridge Gold. We personally are, or members of our immediate household or family are, paid by the following companies mentioned in this article: Seabridge Gold. 3) Seabridge Gold is a billboard sponsor of Streetwise Reports. Click here for important disclosures about sponsor fees. 4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

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andreagillmer · 4 years ago

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SSR Mining Shares Trade Higher on Q3 Earnings and Approved Dividend Policy

Source: Streetwise Reports 11/12/2020

Shares of SSR Mining traded 10% higher after the company reported Q3/20 earnings and stated that it was on track with its full-year guidance to produce 680-760 Koz gold equivalent in FY/20.

SSR Mining Inc. (SSRM:NASDAQ) today announced third quarter operating and consolidated financial results for the period ended September 30, 2020.

The company's President and CEO Rod Antal commented, "With the transformational merger with Alacer Gold finalized, integration efforts near completion, and our operations running at steady state following COVID-19 interruptions, the focus has turned towards delivering a number of value enhancing catalysts before year-end."

"We anticipate a robust fourth quarter with strong free cash flow generation, further strengthening our balance sheet. This continued peer-leading free cash flow generation has allowed us to put in place a dividend policy beginning in the first quarter of 2021...A recurring quarterly dividend is expected to be the primary method of capital return, and we will periodically evaluate supplementing this dividend from trailing excess attributable free cash flow through incremental dividends and/or share buyback programs, Antal added."

The firm reported that in Q3/20 it produced a total of 106.84 Koz gold equivalent (Au eq)and sold 115.31 Koz Au eq in the same period. These amounts compared favorably to the 104.78 Koz Au eq produced and 95.11 Koz Au eq sold in Q3/19.

SSR Mining reported that on a consolidated basis it posted total revenues of $225.4 million in Q3/20, compared to $147.9 million in Q3/19. During the period the firm indicated that net income attributable to equity holders of SSR Mining was $26.75 million, or $0.19 per share, versus $20.74 million, or $0.17 per share in the prior year's corresponding quarter. The firm advised that on a non-GAAP basis it posted adjusted attributable net income of $67.8 million or $0.49 per share in Q3/20, compared to $35.78 million, or $0.29 per share in Q3/19.

The company touched on several of the operating highlights in the latest quarter and noted that it closed the zero-premium merger with Alacer and that in doing so created a leading intermediate precious metals producer with an experienced leadership team, robust margins and strong free cash flow.

The firm additionally announced that its Board of Directors approved the issuance of a quarterly cash dividend in the amount of $0.05 per share beginning in Q1/21.

The company advised that it remains on track to meet its FY/20 updated production guidance and stated that production year-to-date has been 491.821 Koz Au eq across the company's four operations.

Factoring in the completion of the merger with Alacer, the company stated that its FY/20 outlook estimates production of 680-760 Koz Au eq with all-in sustaining costs (AISC) of $965-1,040 per oz Au eq.

SSR Mining Inc. is an intermediate gold company with four producing assets located in Argentina, Canada, Turkey and the U.S., which in 2019 produced in aggregate greater that 720 Koz gold and 7.7 Moz silver. The firm also is actively involved in many other high-quality development and exploration assets in Canada, Mexico, Peru, Turkey and the U.S.

SSR Mining has a market capitalization of around $4.0 billion with approximately 219.2 million shares outstanding and a short interest of about 2.25%. SSRM shares opened 5.5% higher today at $19.12 (+$1.00, +5.52%) over yesterday's $18.12 closing price. The stock has traded today between $18.46 and $20.09 per share and is currently trading at $19.84 (+$1.72, +9.49%).

Disclosure: 1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

( Companies Mentioned: SSRM:NASDAQ, )

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andreagillmer · 4 years ago

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Explorer Puts Focus on North Carlin Project

Source: Streetwise Reports 11/12/2020

With four gold projects in Nevada, Fremont Gold looks to make a new gold discovery in the state.

Nevada's Carlin Trend is a behemoth, having produced more than 84 million ounces of gold since the 1960s. To get an idea of what is still in the ground, the Carlin Complex, operated by Nevada Gold Mines, the Barrick Gold and Newmont joint venture, sports a resource of 30 million ounces gold in the Measured and Indicated category.

Fremont Gold Ltd. (FRE:TSX.V; FRERF:OTCQB; FR2:FSE) aims to add to the Carlin Trend gold tally through exploration on its 100%-owned North Carlin project. North Carlin is surrounded by some high-grade neighbors. It is 6 kilometers from Nevada Gold Mines and Premier Gold Mines' South Arturo mine, where recent drilling returned 39.6 meters of 17.11 grams per tonne (g/t) gold, 12 kilometers from the Goldstrike Mine, operated by Nevada Gold Mines, which hosts 11.1 million ounces of gold in the Measured and Indicated category, and Hecla Mining Company's Hollister Mine lies just 6 kilometers west.

The North Carlin project is largemore than 42 square kilometersand largely underexplored. That is about to change because Fremont just announced a drill program there. "Permitting is well underway at North Carlin and drilling should be underway later this month. We are excited to get started as we have developed a number of untested drill targets," Fremont CEO Blaine Monaghan said.

"North Carlin is situated in the right geological setting for the discovery of a major gold deposit," Monaghan added. "Fremont has developed several drill targets based on soil geochemistry, gravity and geomagnetic surveys, and the projection of key faults that control gold mineralization in the Carlin Trend."

Fremont is permitting 10 drill sites and plans to begin with three holes of up to 500 meters each. "We are starting off with a relatively small first phase drill program of three holes and may add an additional hole or two. We hope to complete the drill program by mid-December but we are prepared to drill it into the winter months," Monaghan stated.

With the backlog at the labs this season as a result of COVID restrictions along with increased exploration, Fremont expects to receive assays in February or March, depending on when the drilling ends.

Fremont also plans to begin exploration work on its Cobb Creek project, situated in Nevada's Independence Trend, that it has optioned from Contact Gold. Cobb Creek hosts a historical resource of 54,864 ounces of gold in oxides and 118,134 ounces of gold in sulphides, but the property has not been drilled in almost 30 years.

"We want to get in there this spring; it hosts that historical resource, but the resource is hosted in a different deposit style," Monaghan said. "We think it has good potential for a Carlin-type deposit. We want to do some early-stage exploration work, using the Carlin model to identify what targets we think have the best potential for a Carlin-type discovery, and then start the permitting process."

Earlier this year, Fremont drilled a nine-hole program at its Griffon project, also in Nevada, in the Cortez Trend. "While the first three holes returned pretty good results, such as 50.3 meters of 1.05 gram per tonne gold starting near surface, we weren't able to return another interval that looked like that in the remainder of the holes," Monaghan said. "We're interpreting all of the new data to help us vector in on new targets."

Fremont recently closed a non-brokered private placement for gross proceeds of CA$2 million. The initial offering was doubled when Palisades Goldcorp Ltd. came in with the lead order. Proceeds are going to be used for drilling at North Carlin, the exploration program at Cobb Creek and for general working capital.

Analyst Thibaut Lepouttre wrote in Caesars Report on November 6, "Fremont Gold Ltd. has now closed the CA$0.05 financing, and the company ended up raising CA$2M after upsizing the original CA$1M placement. . .the CA$2M cash injection will fund the upcoming North Carlin drill program where the company is planning to drill three holes for a total of 1,500m. . .Fremont should be able to end the year with a strong treasury while waiting for the North Carlin assay results."

James Kwantes noted in Resource Opportunities on October 11, "Fremont Gold Ltd. is pivoting to its 42 sq km North Carlin project. The company is permitting 10 drill sites and plans to drill about 1,500m at North Carlin, a deeper target, in the next couple of months."

Fremont has 122.9 million shares outstanding, 201.4 million fully diluted.

Read what other experts are saying about:

Fremont Gold Ltd.

Disclosure: 1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Fremont Gold. Click here for important disclosures about sponsor fees. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Additional disclosures:

Caesars Report: Disclosure: The author has a long position in Fremont Gold and has participated in the recent financing. Fremont Gold is a sponsor of the website.

Disclosures from Resource Opportunities Disclosure: James Kwantes owns shares of Fremont Gold. Companies are selected for presentation in this publication strictly on their merits, and Resource Opportunities sponsors are selected on their merits as well. No fee is charged to non-sponsor companies for inclusion. The author may from time to time have a position in the securities of the companies mentioned herein, and may change his positions without notice. Any positions will be disclosed explicitly.

( Companies Mentioned: FRE:TSX.V; FRERF:OTCQB; FR2:FSE, )

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andreagillmer · 4 years ago

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Will Going Deep on Cortez Trend Property in Nevada Uncover Bonanza-Grade Gold?

Source: Streetwise Reports 11/12/2020

Cyon Exploration's project, in "Elephant Country," near the huge Cortez mining complex, offers the potential of both placer and hard-rock mining.

Nevada's Cortez Trend is home to mega deposits, such as the Barrick Gold-Newmont JV Pipeline-Cortez complex that is estimated to have 45 million ounces of gold. Newly renamed Cyon Exploration Ltd. (CYON:TSX.V)formerly True Grit Resourcesrecently acquired the Black Rock Canyon property, located also in the Cortez Trend, lies not far from this behemoth of a mine.

"Carlin-type gold deposits that run through the Pipeline-Cortez mining complex are indicated to head directly through Black Rock Canyon," Byron Coulthard, Cyon's president and CEO, told Streetwise Reports.

And the company aims to find out if it does.

The nearly 3,900-acre property has seen some barite and gold placer mining in the 1980s and 1990s. The property had been leased to various exploration companies, and over the years a lot of surface sampling for placer gold as well as shallow drilling was done. "The aim of the drilling was to look for shallow bulk machinable, open pit deposits, something that they could heap leach quickly," Coulthard said.

Historical surface samples returned assays that ranged from 2.02 grams per tonne (g/t) gold to 109.7 g/t gold.

Geologist Steven Weiss, technical advisor to Cyon, told Streetwise Reports that some of the shallow holes "intersected 600 feet of low grade gold that averaged 0.1 g/t, which is not anything economic, but it indicates a significant amount of gold in fluid leakage into the rocks in that part of the property. Those rocks are not good host rocks, but beneath those formations at depth we have very good regional evidence for much more prospective rocks called the Roberts Mountains formation and the windband limestone."

"Whenever there's a good gold anomaly in the rocks above the Roberts Mountains formation, it's of a lot of interest for finding a potential high-grade portion of a Carlin-type gold deposit or a skarn deposit down in the Roberts Mountains or the windband formations," Weiss said.

Coulthard noted that Cyon recently purchased a lot of airborne data that it is overlaying on its map. "Because we have so much historical data, we do not need to spend a lot of time and effort trench sampling."

On November 4, Cyon announced that it has compiled and is analyzing the historical data to select the best sites for deep drilling. "With only shallow drilling completed on the property historically, the topography suggests that the Cortez gold trend dips to a deeper depth and drilling to over 1,100 feet is needed," the company noted.

Coulthard explained that the Black Rock Canyon property is situated in an extremely prospective area. "This property lies in a region where there are some really large, productive gold deposits and gold mines. Off to the southeast are the Pipeline and Cortez deposits, which are being mined by the Barrick Gold JV. And off to the northwest is the Battle Mountain district, where Newmont is busy mining at the Phoenix deposit. Just a few miles directly west of the property is a place called the Hilltop Mine, which was a historical gold producer. So the Black Rock Canyon property is in a really productive and prospective address."

Cyon also recently acquired the Aspen Gold Property in northern British Columbia. The property is situated about 25 kilometers from Artemis Gold's Blackwater Gold Project that has a Measured and Indicated resource of 12.4 gold equivalent ounces. Artemis just released an economic impact study on the project that estimated the Blackwater gold project would serve as a new economic engine for central British Columbia and Canada, contributing more than CA$13.2 billion to its economy over a period of 23 years.

Cyon's Aspen project is made up of 16 mineral claims over 7,450 acres. Forest service roads provide direct access.

Initially, Cyon plans to update Aspen's existing 43-101 report. "Based on that, we will decide how to proceed," Coulthard said. "We will conduct an induced polarization survey and some aerial work in the spring."

Cyon has 46 million shares issued, 64 million fully diluted.

Disclosure: 1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Cyon Exploration. Please click here for more information. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Cyon Exploration, a company mentioned in this article.

( Companies Mentioned: CYON:TSX.V, )

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andreagillmer · 4 years ago

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What’s Ahead for the Gold Market?

Source: Rudi Fronk and Jim Anthony for Streetwise Reports 11/12/2020

Rudi Fronk and Jim Anthony, cofounders of Seabridge Gold, look at the macroeconomic factors they believe will move gold higher.

We see a further move higher in gold in the near term as the election log jam begins to clear. The election process curtailed new fiscal stimulus since July when direct transfers to individuals exhausted their Congressional approvals. This pause in fiscal stimulus, which took government transfer payments to an astonishing 25% of household income, coincided with a pause in gold’s upward momentum. However, it is very clear that further stimulus is favored on both sides of the House and even a Republican Senate, if there proves to be one, will not prevent trillions more of fiscal stimulus.

The two main drivers of the gold price are the dollar and real yields. We expect both drivers to be positive in the coming year.

Remember that today’s QE is not the QE post Great Recession which corralled the new money in the financial system, resulting in a muted response in terms of money supply growth and inflation. Today’s QE is being mainlined into the real economy by way of direct transfer payments to individuals and business, forgivable loans and bailouts. Money supply is expanding at a blistering pace. The die has been cast and there is no turning back. Going forward, gold is the best protection for private wealth and there is not nearly enough of it to serve this purpose at current prices.

The growth in MZM money supply…the money available for immediate expenditure…has slowed(!) to 27.5% year over year, down from 30% two months ago, an unprecedented pace of money creation which is temporarily keeping the economy afloat.

Disclosures: 1) Statements and opinions expressed are the opinions of Rudi Fronk and Jim Anthony and not of Streetwise Reports or its officers. The authors are wholly responsible for the validity of the statements. Streetwise Reports was not involved in any aspect of the content preparation. The authors were not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the authors to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. 2) Rudi Fronk and Jim Anthony: we, or members of our immediate household or family, own shares of the following companies mentioned in this article: Seabridge Gold. We personally are, or members of our immediate household or family are, paid by the following companies mentioned in this article: Seabridge Gold. 3) Seabridge Gold is a billboard sponsor of Streetwise Reports. Click here for important disclosures about sponsor fees. 4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

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andreagillmer · 4 years ago

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SSR Mining Shares Trade Higher on Q3 Earnings and Approved Dividend Policy

Source: Streetwise Reports 11/12/2020

Shares of SSR Mining traded 10% higher after the company reported Q3/20 earnings and stated that it was on track with its full-year guidance to produce 680-760 Koz gold equivalent in FY/20.

SSR Mining Inc. (SSRM:NASDAQ) today announced third quarter operating and consolidated financial results for the period ended September 30, 2020.

The company’s President and CEO Rod Antal commented, “With the transformational merger with Alacer Gold finalized, integration efforts near completion, and our operations running at steady state following COVID-19 interruptions, the focus has turned towards delivering a number of value enhancing catalysts before year-end.”

“We anticipate a robust fourth quarter with strong free cash flow generation, further strengthening our balance sheet. This continued peer-leading free cash flow generation has allowed us to put in place a dividend policy beginning in the first quarter of 2021…A recurring quarterly dividend is expected to be the primary method of capital return, and we will periodically evaluate supplementing this dividend from trailing excess attributable free cash flow through incremental dividends and/or share buyback programs, Antal added.”

SSR Mining reported that on a consolidated basis it posted total revenues of $225.4 million in Q3/20, compared to $147.9 million in Q3/19. During the period the firm indicated that net income attributable to equity holders of SSR Mining was $26.75 million, or $0.19 per share, versus $20.74 million, or $0.17 per share in the prior year’s corresponding quarter. The firm advised that on a non-GAAP basis it posted adjusted attributable net income of $67.8 million or $0.49 per share in Q3/20, compared to $35.78 million, or $0.29 per share in Q3/19.

The firm additionally announced that its Board of Directors approved the issuance of a quarterly cash dividend in the amount of $0.05 per share beginning in Q1/21.

The company advised that it remains on track to meet its FY/20 updated production guidance and stated that production year-to-date has been 491.821 Koz Au eq across the company’s four operations.

SSR Mining has a market capitalization of around $4.0 billion with approximately 219.2 million shares outstanding and a short interest of about 2.25%. SSRM shares opened 5.5% higher today at $19.12 (+$1.00, +5.52%) over yesterday’s $18.12 closing price. The stock has traded today between $18.46 and $20.09 per share and is currently trading at $19.84 (+$1.72, +9.49%).

Disclosure: 1) Stephen Hytha compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. He or members of his household own securities of the following companies mentioned in the article: None. He or members of his household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

( Companies Mentioned: SSRM:NASDAQ, )

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andreagillmer · 4 years ago

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Explorer Puts Focus on North Carlin Project

Source: Streetwise Reports 11/12/2020

With four gold projects in Nevada, Fremont Gold looks to make a new gold discovery in the state.

Nevada’s Carlin Trend is a behemoth, having produced more than 84 million ounces of gold since the 1960s. To get an idea of what is still in the ground, the Carlin Complex, operated by Nevada Gold Mines, the Barrick Gold and Newmont joint venture, sports a resource of 30 million ounces gold in the Measured and Indicated category.

Fremont Gold Ltd. (FRE:TSX.V; FRERF:OTCQB; FR2:FSE) aims to add to the Carlin Trend gold tally through exploration on its 100%-owned North Carlin project. North Carlin is surrounded by some high-grade neighbors. It is 6 kilometers from Nevada Gold Mines and Premier Gold Mines’ South Arturo mine, where recent drilling returned 39.6 meters of 17.11 grams per tonne (g/t) gold, 12 kilometers from the Goldstrike Mine, operated by Nevada Gold Mines, which hosts 11.1 million ounces of gold in the Measured and Indicated category, and Hecla Mining Company’s Hollister Mine lies just 6 kilometers west.

The North Carlin project is largemore than 42 square kilometersand largely underexplored. That is about to change because Fremont just announced a drill program there. “Permitting is well underway at North Carlin and drilling should be underway later this month. We are excited to get started as we have developed a number of untested drill targets,” Fremont CEO Blaine Monaghan said.

“North Carlin is situated in the right geological setting for the discovery of a major gold deposit,” Monaghan added. “Fremont has developed several drill targets based on soil geochemistry, gravity and geomagnetic surveys, and the projection of key faults that control gold mineralization in the Carlin Trend.”

Fremont is permitting 10 drill sites and plans to begin with three holes of up to 500 meters each. “We are starting off with a relatively small first phase drill program of three holes and may add an additional hole or two. We hope to complete the drill program by mid-December but we are prepared to drill it into the winter months,” Monaghan stated.

Fremont also plans to begin exploration work on its Cobb Creek project, situated in Nevada’s Independence Trend, that it has optioned from Contact Gold. Cobb Creek hosts a historical resource of 54,864 ounces of gold in oxides and 118,134 ounces of gold in sulphides, but the property has not been drilled in almost 30 years.

“We want to get in there this spring; it hosts that historical resource, but the resource is hosted in a different deposit style,” Monaghan said. “We think it has good potential for a Carlin-type deposit. We want to do some early-stage exploration work, using the Carlin model to identify what targets we think have the best potential for a Carlin-type discovery, and then start the permitting process.”

Earlier this year, Fremont drilled a nine-hole program at its Griffon project, also in Nevada, in the Cortez Trend. “While the first three holes returned pretty good results, such as 50.3 meters of 1.05 gram per tonne gold starting near surface, we weren’t able to return another interval that looked like that in the remainder of the holes,” Monaghan said. “We’re interpreting all of the new data to help us vector in on new targets.”

Analyst Thibaut Lepouttre wrote in Caesars Report on November 6, “Fremont Gold Ltd. has now closed the CA$0.05 financing, and the company ended up raising CA$2M after upsizing the original CA$1M placement. . .the CA$2M cash injection will fund the upcoming North Carlin drill program where the company is planning to drill three holes for a total of 1,500m. . .Fremont should be able to end the year with a strong treasury while waiting for the North Carlin assay results.”

James Kwantes noted in Resource Opportunities on October 11, “Fremont Gold Ltd. is pivoting to its 42 sq km North Carlin project. The company is permitting 10 drill sites and plans to drill about 1,500m at North Carlin, a deeper target, in the next couple of months.”

Fremont has 122.9 million shares outstanding, 201.4 million fully diluted.

Read what other experts are saying about:

Fremont Gold Ltd.

Disclosure: 1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Fremont Gold. Click here for important disclosures about sponsor fees. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Additional disclosures:

Caesars Report: Disclosure: The author has a long position in Fremont Gold and has participated in the recent financing. Fremont Gold is a sponsor of the website.

( Companies Mentioned: FRE:TSX.V; FRERF:OTCQB; FR2:FSE, )

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andreagillmer · 4 years ago

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Will Going Deep on Cortez Trend Property in Nevada Uncover Bonanza-Grade Gold?

Source: Streetwise Reports 11/12/2020

Cyon Exploration’s project, in “Elephant Country,” near the huge Cortez mining complex, offers the potential of both placer and hard-rock mining.

Nevada’s Cortez Trend is home to mega deposits, such as the Barrick Gold-Newmont JV Pipeline-Cortez complex that is estimated to have 45 million ounces of gold. Newly renamed Cyon Exploration Ltd. (CYON:TSX.V)formerly True Grit Resourcesrecently acquired the Black Rock Canyon property, located also in the Cortez Trend, lies not far from this behemoth of a mine.

“Carlin-type gold deposits that run through the Pipeline-Cortez mining complex are indicated to head directly through Black Rock Canyon,” Byron Coulthard, Cyon’s president and CEO, told Streetwise Reports.

And the company aims to find out if it does.

The nearly 3,900-acre property has seen some barite and gold placer mining in the 1980s and 1990s. The property had been leased to various exploration companies, and over the years a lot of surface sampling for placer gold as well as shallow drilling was done. “The aim of the drilling was to look for shallow bulk machinable, open pit deposits, something that they could heap leach quickly,” Coulthard said.

Historical surface samples returned assays that ranged from 2.02 grams per tonne (g/t) gold to 109.7 g/t gold.

Geologist Steven Weiss, technical advisor to Cyon, told Streetwise Reports that some of the shallow holes “intersected 600 feet of low grade gold that averaged 0.1 g/t, which is not anything economic, but it indicates a significant amount of gold in fluid leakage into the rocks in that part of the property. Those rocks are not good host rocks, but beneath those formations at depth we have very good regional evidence for much more prospective rocks called the Roberts Mountains formation and the windband limestone.”

“Whenever there’s a good gold anomaly in the rocks above the Roberts Mountains formation, it’s of a lot of interest for finding a potential high-grade portion of a Carlin-type gold deposit or a skarn deposit down in the Roberts Mountains or the windband formations,” Weiss said.

Coulthard noted that Cyon recently purchased a lot of airborne data that it is overlaying on its map. “Because we have so much historical data, we do not need to spend a lot of time and effort trench sampling.”

On November 4, Cyon announced that it has compiled and is analyzing the historical data to select the best sites for deep drilling. “With only shallow drilling completed on the property historically, the topography suggests that the Cortez gold trend dips to a deeper depth and drilling to over 1,100 feet is needed,” the company noted.

Coulthard explained that the Black Rock Canyon property is situated in an extremely prospective area. “This property lies in a region where there are some really large, productive gold deposits and gold mines. Off to the southeast are the Pipeline and Cortez deposits, which are being mined by the Barrick Gold JV. And off to the northwest is the Battle Mountain district, where Newmont is busy mining at the Phoenix deposit. Just a few miles directly west of the property is a place called the Hilltop Mine, which was a historical gold producer. So the Black Rock Canyon property is in a really productive and prospective address.”

Cyon also recently acquired the Aspen Gold Property in northern British Columbia. The property is situated about 25 kilometers from Artemis Gold’s Blackwater Gold Project that has a Measured and Indicated resource of 12.4 gold equivalent ounces. Artemis just released an economic impact study on the project that estimated the Blackwater gold project would serve as a new economic engine for central British Columbia and Canada, contributing more than CA$13.2 billion to its economy over a period of 23 years.

Cyon’s Aspen project is made up of 16 mineral claims over 7,450 acres. Forest service roads provide direct access.

Initially, Cyon plans to update Aspen’s existing 43-101 report. “Based on that, we will decide how to proceed,” Coulthard said. “We will conduct an induced polarization survey and some aerial work in the spring.”

Cyon has 46 million shares issued, 64 million fully diluted.

Disclosure: 1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Cyon Exploration. Please click here for more information. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Cyon Exploration, a company mentioned in this article.

( Companies Mentioned: CYON:TSX.V, )

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andreagillmer · 4 years ago

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Oil Dips On Inventories, Gold Consolidates

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Explorer Anticipates ‘Platreef Potential’ Drill Results from Montana Prospect

Source: Maurice Jackson for Streetwise Reports 11/11/2020

In conversation with Maurice Jackson of Proven and Probable, Michael Rowley, the CEO of Group Ten Metals, outlines the latest developments at the company’s flagship project.

Image Taken from Stillwater West

Maurice Jackson: Joining us for a conversation is Michael Rowley, the CEO of Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE).

Mr. Rowley, glad to speak with you, sir, to get us up to date on the latest, exciting developments on the high-grade, polymetallic Stillwater West project located in Montana.

Before we begin, Mr. Rowley, please introduce us to Group Ten Metals and the opportunity before us.

Michael Rowley: Group Ten Metals is a growth-stage exploration company. We are pre-resource and we are about to debut three resources at our flagship Stillwater West project.

In total, we have three district-scale assets. Two of these are PGE-nickel-copper. One of them is high-grade gold and the two of them, one of the PGE [platinum group element] projects and the gold project, are effectively for sale, at this point, to focus on the Stillwater Project, which is what we’ll focus on today.

The Stillwater West Project is a remarkable opportunity. We got it in 2017 and quickly advanced it based on the database. We drilled it in 2019 and we just completed additional drilling a matter of weeks ago, and those results are pending. The potential that we see there, and our focus, is on proving up what we see as a Platreef potential.

We’re completing a process that started in the 1970s, when previous work in the Stillwater District and the Stillwater Igneous Complex was dedicated for platinum, when America needed catalytic converters. They took parallels from the Bushveld District of South Africa, which is the source of most of the world’s platinum, and they found the J-M reef deposit, which is actually in the exact same place in the stratigraphic layers at Stillwater, as it is at Bushveld in the parallel system.

Now, what’s interesting is that the Bushveld went ahead with the development of these massive nickel-copper-sulfide-PGE mines in the lower portion of the Bushveld Complex in the 1990s. That was never continued in Montana, even though the parallels were fairly well known and were even talked about in technical papers. So, in a sense, we’re just completing that example. We’re just completing that process and bringing that thinking back to Stillwater West from a known comparable system in South Africa.

Maurice Jackson: Group Ten Metals has been working very meticulously on the Stillwater West, as the company continues to demonstrate its proof of concept. The results to date, as with each press release, have been nothing short of exceptional, and what appears, as you referenced, to be the next major Platreef discovery.

Mr. Rowley, Group Ten has just announced the completion of mapping and sampling yielding what has been a recurring theme, more high-grade results on platinum and palladium. Also, your latest release discussed a very large induced polarization survey conducted on the property. Take us to the Stillwater West and provide us with some context on what these early results from your 2020 program may indicate.

Michael Rowley: Group Ten had a fantastic year on the ground at the Stillwater West. We began early in the year with some studies based on drill core at the shack. We moved out in the field in April and May. You’ve got those results already from the earlier stage targets that we identified in the soil survey we did last yearsome very high-grade results in those early areas.

We then moved to bigger programs at the most advanced target areas, and that’s key to our strategy. We have a lot of targets, so we’re focused on converting known mineralization at those three most advanced target areas to our first formal resources of the project, and then on expanding that drill to find mineralization into these untested adjacent highs that you can see in our figures. So we’re looking for both grade and scale here, and that’s been the priority in our work, and we’re blessed in terms of our database that we’re starting on second, or even third base, in terms of getting there.

In this year’s programour biggest yetwe drilled five holes, totaling more than 1,800 meters, in the Chrome Mountain target area. That’s in addition to drilling that we did at Camp and HGR, the other two most advanced target areas last year. In all three cases, we’re driving the exploration models and expanding known mineralization. We now have more than 31,000 meters of drill data, and we’re on track to debut our maiden resources early next year.

I’ll just maybe throw in a little bit about that Platreef-style target because, as mentioned, it’s the Mogalakwena and Ivanhoe Platreef model from South Africa. So these are big, disseminated sulfide systemsnickel and copper sulfidestens and hundreds of meters thick and kilometers long and rich in PGEs and also gold.

We also see cobalt in a system at Stillwater, which is something they don’t have in the Bushveld.

Maurice Jackson: Michael, the global demand for clean air is on the rise, with an obvious explosion in demand for electric vehicles, battery storage, fuel cells and so much more, that the US government has been prompted to add a number of your commodities on the critical metals list. In other words, these are mineral commodities that are vital to the nation’s security and economic prosperity. The Stillwater West is a polymetallic and a potential source of several of these battery-grade metals, such as nickel, copper and cobalt. What can you share with us?

Michael Rowley: The Stillwater West is fundamentally a nickel-and-copper sulfide system. That is the Platreef model. It’s enriched in PGEs and cobalt and gold as well. Specific to nickel, battery-grade nickel is nickel sulfide, so we have what Tesla and the other EV [electric vehicle] companies are looking for.

There are very few projects with potential for grade and scale in the world in this regard. There are not many magmatic systems out there of any size. Group Ten shares one of the largest and best geological formations in the world, the Stillwater Igneous Complex, with the major producer, our neighbor, Sibanye Gold Ltd. (SBGL:NYSE). They operate three mines right beside us, and they have a smelter refinery complex in the district. Their mines are the highest grade of the type in the world, whopping 80 million ounces of palladium and platinum, and more than half an ounce per tonne grade. So there’s a lot of metal in this system and that has to speak well for our chances as we get into that lower portion of the system.

In addition to nickel, the U.S. has listed PGEs, such as palladium, platinum and rhodium, as critical, and also cobalt. That’s to secure domestic supplies and reduce dependency on Africa and Russia and other countries for supply. So we’re not only in some of the very best rocks in the world for these target commodities. We happen to also be in a U.S. district that is a producing mining district, and that has to be beneficial for Group Ten.

Maurice Jackson: You somewhat alluded to it, but you also have the infrastructure that is paramount to the success of this story as well.

Michael Rowley: Absolutely. Our neighbor is mining just a few hundred meters north of one of our target areas.

Maurice Jackson: Michael, to date, each press release has been a complete success in my view. Tell us more about the results to date on the other precious metals that make up the portfolio, beginning with gold and then rhodium. What have you discovered on the Stillwater West?

Michael Rowley: Gold is a good one to discuss, because we have it broadly in that Platreef-style basket across the 25-kilometer span of the project. So, by co-product, I mean it’s at co-product levels. Our value split at Stillwater is probably a third nickel, a third palladium, and then a third the other, and gold is in that other basket.

But we do have one area of high-grade gold at Stillwater, which is running more than 8 grams per tonne. It’s a nice grade. It’s drilled in the 1980s, drilled in the 2000s. We’ve block-modeled it there. It’s not a resource that we can advance immediately this year. We are working on it, and I think we’ll bring that to the table in the future. It is open for expansion, and our work with the soils, in particular, showed high-grade gold in soils two kilometers to the west of the drill-defined high-grade gold at the Pine target. So there’s some very good expansion potential there.

We also identified similar levels of gold 9 kilometers away in the magmatic layers of the HDR target. So we’ve got a new model, a new understanding of gold mineralization at Stillwater here that’s very exciting, and takes it away from what was thought to previously being contained to a shear zone. We’re looking forward to reporting more on that. We did some good work on that this year.

Rhodium is very strategic, as there is essentially no mine supply in North America to speak ofit’s very little. Earlier this year we announced, I think we talked about it in one of our interviews previously, we show good rhodium co-product values across some size, and that would be immensely strategic in North America. Rhodium, I think you just said it, is $14,000 per ounce today. It’s back up; it’s high. And, like palladium, that’s due to persistent supply deficits year after year.

Maurice Jackson: What kind of grams are we looking at from the previous press releases? Was it about 6-7 grams per tonne, somewhere in that range?

Michael Rowley: We chipped a rock that was nearly 6 grams per tonne rhodium, which is the highest I’ve seen, and that certainly speaks to the potential for grade. The highest grade rhodium mine in the world is less than half a gram per tonne, so it’s rarely at those high levels. That’s the UG2 Reef in the Bushveld, South Africa. The great majority of other rhodium producers are running at 0.1 grams, even sometimes 0.2 grams per tonne, and that’s the range that we’re seeing in those results reported in drill core.

Maurice Jackson: Now I would be remiss if I didn’t ask this two-part question. When can shareholders expect the maiden resource to be published? And where do you think it will put you in relation to your peers?

Michael Rowley: We have block models developing on five target areas. Those are presented very nicely in our materials. The focus is on the most advanced three, and those are the Discovery Camp and HGR areas. They’ve got the most drilling, and it’s holding together really nicely in terms of continuity and grade. We’re going to incorporate this year’s drill results and then do our best to get them out quickly. So we’re looking, I think, at an early 2021 release date, and we’re looking forward to providing more details on that.

In terms of our peers, it’s hard to find a direct fit and, of course, we do not have published numbers to talk about yet. But in broad terms, if you look at our current peers, we have the PGEs that, say, a Generation Mining Ltd. (GENM:TSX; GENMF:OTCQB; 9GN:FSE) has, but we also have nickel that they don’t have. I guess another point that separates us is that we own our asset 100%, and they have a 51% interest to date. Another peer might be Canada Nickel (CNIKF:OTCMKTS), but again, it’s not a direct comparison, as they have limited PGEs so far.

If you could just blend those two in terms of geology, then you’re getting somewhere closer to the Platreef model that we’re looking at, which is Ivanhoe Mines Ltd.’s (IVN:TSX; IVPAF:OTCQX) Platreef Line in South Africa.

Maurice Jackson: Leaving Montana and moving onto Ontario, Group Ten has a portfolio of projects, any of which could be a flagship for an explorer. With gold resuming an upward trajectory, update us on the Black Lake-Drayton Project in Ontario, Canada, sir.

Michael Rowley: Very interesting things happening in the district out there. Treasury Metals Inc. (TML:TSX: TSRMF:OTCQB) has done a fantastic job of consolidating the rest of the district. They’ve purchased effectively the Goldlund deposit so they now have, between their Goliath and Goldlund now consolidated, they have over 3 million ounces and a permit to build a mill. That’s one of the largest undeveloped gold projects in Canada and North America. It’s very attractive. That’s right beside a highway, power, all that good stuff.

We share the district with them. We have the remaining one-third of the district. We have all the same geology, 127 holes in the database. We’re getting a lot of interest in this asset now from some very good parties. I think that reflects the move in gold that you mentioned, and also a quickly accelerating M&A environment. So I’m optimistic to see what we can do in that regard.

Our objective here would just be to get some value for it. We’re not getting anything, I think, on our balance sheet at present for it, yet it’s a really good project. We’d be glad to have a very good share position in the gold space, for example, and let somebody else advance it so we can focus on Montana.

Maurice Jackson: Should that come to fruition that would be great for organic growth and no more shareholder dilution without any financing down the road.

Michael Rowley: Absolutely!

Maurice Jackson: Switching gears, sir, please provide us with an update on the current capital structure for Group Ten Metals.

Michael Rowley: We have about 145 million shares out at present. Our prices just moved up nicely the past few days. We’re about a $50 million market cap, I think. I haven’t calculated it recently.

A key point is that we have $4 million in the treasury and we have $11 million in the money warrants. So we are presently funded through everything we need to do this year and potentially even next year if you assume those warrants come in.

We do have some key news events on the horizon that are going to drive price, and that would be drill results, which we expect to start receiving shortly. That will be ongoing over the next couple of months. The final results from that IP survey, which was fantastic, I think people can look forward to some updated promotional materials with lovely pink images from that survey and, of course, the resources, ultimately, in the new year at some point, and those would be major catalysts. I don’t think we’ll have to do a placement before then.

We are in some very good discussions with some big players in the industry. If, on the right terms, we see the right opportunity to bring a strategic partner in, we will do that. But so far, we see a lot of value we can add here as well before we look at further placements.

Maurice Jackson: Last question, sir. What did I forget to ask?

Michael Rowley: We should probably touch quickly on the Yukon, the Kluane Project, as our neighbor Nickel Creek Platinum (NCP:TSE) has a new CEO. That deposit, formerly known as the Wellgreen Deposit, now the Nickel Shaw Deposit, they seem to be putting some attention to again.

It’s a great district. This is one of the largest undeveloped nickel-copper-PGE deposits in the world. The whole Kluane Belt is good and we, of course, are the largest landholder in that belt. We currently have some interest in one project of the four that we own in that group, and I think we’ll see that accelerate in the coming weeks and months.

Maurice Jackson: Mr. Rowley, if someone listening today wants to get more information on Group Ten Metals, please share the website address.

Michael Rowley: www.grouptenmetals.com

Maurice Jackson: Mr. Rowley, it’s always a pleasure to speak with you, sir. Wishing you and Group Ten Metals the absolute best.

Before you make your next bullion purchase make sure you contact me. Im a licensed representative to buy and sell physical precious metals through Miles Franklin Precious Metals Investments where we offer a number of options to expand your precious metals portfolio from physical delivery of gold, silver, platinum, palladium and rhodium directly to your home or office, to offshore depositories and precious metal IRAs. Call me directly at (855) 505-1900 or email [email protected]. Finally, please subscribe to Proven and Probable, where we provide mining insights and bullion sales. Subscription is free.

Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Disclosure: 1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Group Ten Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Group Ten Metals is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Group Ten Metals and Generation Mining. Click here for important disclosures about sponsor fees. 3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. 4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own shares of Group Ten Metals, a company mentioned in this article.

Proven and Probable LLC receives financial compensation from its sponsors. The compensation is used is to fund both sponsor-specific activities and general report activities, website, and general and administrative costs. Sponsor-specific activities may include aggregating content and publishing that content on the Proven and Probable website, creating and maintaining company landing pages, interviewing key management, posting a banner/billboard, and/or issuing press releases. The fees also cover the costs for Proven and Probable to publish sector-specific information on our site, and also to create content by interviewing experts in the sector. Monthly sponsorship fees range from $1,000 to $4,000 per month. Proven and Probable LLC does accept stock for payment of sponsorship fees. Sponsor pages may be considered advertising for the purposes of 18 U.S.C. 1734.

The Information presented in Proven and Probable is provided for educational and informational purposes only, without any express or implied warranty of any kind, including warranties of accuracy, completeness, or fitness for any particular purpose. The Information contained in or provided from or through this forum is not intended to be and does not constitute financial advice, investment advice, trading advice or any other advice. The Information on this forum and provided from or through this forum is general in nature and is not specific to you the User or anyone else. You should not make any decision, financial, investments, trading or otherwise, based on any of the information presented on this forum without undertaking independent due diligence and consultation with a professional broker or competent financial advisor. You understand that you are using any and all Information available on or through this forum at your own risk.

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( Companies Mentioned: PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE, )

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andreagillmer · 4 years ago

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Explorer Anticipates 'Platreef Potential' Drill Results from Montana Prospect

Source: Maurice Jackson for Streetwise Reports 11/11/2020

In conversation with Maurice Jackson of Proven and Probable, Michael Rowley, the CEO of Group Ten Metals, outlines the latest developments at the company's flagship project.

Image Taken from Stillwater West

Maurice Jackson: Joining us for a conversation is Michael Rowley, the CEO of Group Ten Metals Inc. (PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE).

Mr. Rowley, glad to speak with you, sir, to get us up to date on the latest, exciting developments on the high-grade, polymetallic Stillwater West project located in Montana.

Before we begin, Mr. Rowley, please introduce us to Group Ten Metals and the opportunity before us.

Michael Rowley: Group Ten Metals is a growth-stage exploration company. We are pre-resource and we are about to debut three resources at our flagship Stillwater West project.

We're completing a process that started in the 1970s, when previous work in the Stillwater District and the Stillwater Igneous Complex was dedicated for platinum, when America needed catalytic converters. They took parallels from the Bushveld District of South Africa, which is the source of most of the world's platinum, and they found the J-M reef deposit, which is actually in the exact same place in the stratigraphic layers at Stillwater, as it is at Bushveld in the parallel system.

Now, what's interesting is that the Bushveld went ahead with the development of these massive nickel-copper-sulfide-PGE mines in the lower portion of the Bushveld Complex in the 1990s. That was never continued in Montana, even though the parallels were fairly well known and were even talked about in technical papers. So, in a sense, we're just completing that example. We're just completing that process and bringing that thinking back to Stillwater West from a known comparable system in South Africa.

Michael Rowley: Group Ten had a fantastic year on the ground at the Stillwater West. We began early in the year with some studies based on drill core at the shack. We moved out in the field in April and May. You've got those results already from the earlier stage targets that we identified in the soil survey we did last yearsome very high-grade results in those early areas.

We then moved to bigger programs at the most advanced target areas, and that's key to our strategy. We have a lot of targets, so we're focused on converting known mineralization at those three most advanced target areas to our first formal resources of the project, and then on expanding that drill to find mineralization into these untested adjacent highs that you can see in our figures. So we're looking for both grade and scale here, and that's been the priority in our work, and we're blessed in terms of our database that we're starting on second, or even third base, in terms of getting there.

In this year's programour biggest yetwe drilled five holes, totaling more than 1,800 meters, in the Chrome Mountain target area. That's in addition to drilling that we did at Camp and HGR, the other two most advanced target areas last year. In all three cases, we're driving the exploration models and expanding known mineralization. We now have more than 31,000 meters of drill data, and we're on track to debut our maiden resources early next year.

I'll just maybe throw in a little bit about that Platreef-style target because, as mentioned, it's the Mogalakwena and Ivanhoe Platreef model from South Africa. So these are big, disseminated sulfide systemsnickel and copper sulfidestens and hundreds of meters thick and kilometers long and rich in PGEs and also gold.

We also see cobalt in a system at Stillwater, which is something they don't have in the Bushveld.

Maurice Jackson: Michael, the global demand for clean air is on the rise, with an obvious explosion in demand for electric vehicles, battery storage, fuel cells and so much more, that the US government has been prompted to add a number of your commodities on the critical metals list. In other words, these are mineral commodities that are vital to the nation's security and economic prosperity. The Stillwater West is a polymetallic and a potential source of several of these battery-grade metals, such as nickel, copper and cobalt. What can you share with us?

Michael Rowley: The Stillwater West is fundamentally a nickel-and-copper sulfide system. That is the Platreef model. It's enriched in PGEs and cobalt and gold as well. Specific to nickel, battery-grade nickel is nickel sulfide, so we have what Tesla and the other EV [electric vehicle] companies are looking for.

There are very few projects with potential for grade and scale in the world in this regard. There are not many magmatic systems out there of any size. Group Ten shares one of the largest and best geological formations in the world, the Stillwater Igneous Complex, with the major producer, our neighbor, Sibanye Gold Ltd. (SBGL:NYSE). They operate three mines right beside us, and they have a smelter refinery complex in the district. Their mines are the highest grade of the type in the world, whopping 80 million ounces of palladium and platinum, and more than half an ounce per tonne grade. So there's a lot of metal in this system and that has to speak well for our chances as we get into that lower portion of the system.

In addition to nickel, the U.S. has listed PGEs, such as palladium, platinum and rhodium, as critical, and also cobalt. That's to secure domestic supplies and reduce dependency on Africa and Russia and other countries for supply. So we're not only in some of the very best rocks in the world for these target commodities. We happen to also be in a U.S. district that is a producing mining district, and that has to be beneficial for Group Ten.

Maurice Jackson: You somewhat alluded to it, but you also have the infrastructure that is paramount to the success of this story as well.

Michael Rowley: Absolutely. Our neighbor is mining just a few hundred meters north of one of our target areas.

Michael Rowley: Gold is a good one to discuss, because we have it broadly in that Platreef-style basket across the 25-kilometer span of the project. So, by co-product, I mean it's at co-product levels. Our value split at Stillwater is probably a third nickel, a third palladium, and then a third the other, and gold is in that other basket.

But we do have one area of high-grade gold at Stillwater, which is running more than 8 grams per tonne. It's a nice grade. It's drilled in the 1980s, drilled in the 2000s. We've block-modeled it there. It's not a resource that we can advance immediately this year. We are working on it, and I think we'll bring that to the table in the future. It is open for expansion, and our work with the soils, in particular, showed high-grade gold in soils two kilometers to the west of the drill-defined high-grade gold at the Pine target. So there's some very good expansion potential there.

We also identified similar levels of gold 9 kilometers away in the magmatic layers of the HDR target. So we've got a new model, a new understanding of gold mineralization at Stillwater here that's very exciting, and takes it away from what was thought to previously being contained to a shear zone. We're looking forward to reporting more on that. We did some good work on that this year.

Rhodium is very strategic, as there is essentially no mine supply in North America to speak ofit's very little. Earlier this year we announced, I think we talked about it in one of our interviews previously, we show good rhodium co-product values across some size, and that would be immensely strategic in North America. Rhodium, I think you just said it, is $14,000 per ounce today. It's back up; it's high. And, like palladium, that's due to persistent supply deficits year after year.

Maurice Jackson: What kind of grams are we looking at from the previous press releases? Was it about 6-7 grams per tonne, somewhere in that range?

Michael Rowley: We chipped a rock that was nearly 6 grams per tonne rhodium, which is the highest I've seen, and that certainly speaks to the potential for grade. The highest grade rhodium mine in the world is less than half a gram per tonne, so it's rarely at those high levels. That's the UG2 Reef in the Bushveld, South Africa. The great majority of other rhodium producers are running at 0.1 grams, even sometimes 0.2 grams per tonne, and that's the range that we're seeing in those results reported in drill core.

Maurice Jackson: Now I would be remiss if I didn't ask this two-part question. When can shareholders expect the maiden resource to be published? And where do you think it will put you in relation to your peers?

Michael Rowley: We have block models developing on five target areas. Those are presented very nicely in our materials. The focus is on the most advanced three, and those are the Discovery Camp and HGR areas. They've got the most drilling, and it's holding together really nicely in terms of continuity and grade. We're going to incorporate this year's drill results and then do our best to get them out quickly. So we're looking, I think, at an early 2021 release date, and we're looking forward to providing more details on that.

In terms of our peers, it's hard to find a direct fit and, of course, we do not have published numbers to talk about yet. But in broad terms, if you look at our current peers, we have the PGEs that, say, a Generation Mining Ltd. (GENM:TSX; GENMF:OTCQB; 9GN:FSE) has, but we also have nickel that they don't have. I guess another point that separates us is that we own our asset 100%, and they have a 51% interest to date. Another peer might be Canada Nickel (CNIKF:OTCMKTS), but again, it's not a direct comparison, as they have limited PGEs so far.

If you could just blend those two in terms of geology, then you're getting somewhere closer to the Platreef model that we're looking at, which is Ivanhoe Mines Ltd.'s (IVN:TSX; IVPAF:OTCQX) Platreef Line in South Africa.

Michael Rowley: Very interesting things happening in the district out there. Treasury Metals Inc. (TML:TSX: TSRMF:OTCQB) has done a fantastic job of consolidating the rest of the district. They've purchased effectively the Goldlund deposit so they now have, between their Goliath and Goldlund now consolidated, they have over 3 million ounces and a permit to build a mill. That's one of the largest undeveloped gold projects in Canada and North America. It's very attractive. That's right beside a highway, power, all that good stuff.

We share the district with them. We have the remaining one-third of the district. We have all the same geology, 127 holes in the database. We're getting a lot of interest in this asset now from some very good parties. I think that reflects the move in gold that you mentioned, and also a quickly accelerating M&A environment. So I'm optimistic to see what we can do in that regard.

Our objective here would just be to get some value for it. We're not getting anything, I think, on our balance sheet at present for it, yet it's a really good project. We'd be glad to have a very good share position in the gold space, for example, and let somebody else advance it so we can focus on Montana.

Maurice Jackson: Should that come to fruition that would be great for organic growth and no more shareholder dilution without any financing down the road.

Michael Rowley: Absolutely!

Maurice Jackson: Switching gears, sir, please provide us with an update on the current capital structure for Group Ten Metals.

Michael Rowley: We have about 145 million shares out at present. Our prices just moved up nicely the past few days. We're about a $50 million market cap, I think. I haven't calculated it recently.

Maurice Jackson: Last question, sir. What did I forget to ask?

It's a great district. This is one of the largest undeveloped nickel-copper-PGE deposits in the world. The whole Kluane Belt is good and we, of course, are the largest landholder in that belt. We currently have some interest in one project of the four that we own in that group, and I think we'll see that accelerate in the coming weeks and months.

Maurice Jackson: Mr. Rowley, if someone listening today wants to get more information on Group Ten Metals, please share the website address.

Michael Rowley: www.grouptenmetals.com

Maurice Jackson: Mr. Rowley, it's always a pleasure to speak with you, sir. Wishing you and Group Ten Metals the absolute best.

Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

Disclosure: 1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Group Ten Metals. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Group Ten Metals is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: Group Ten Metals and Generation Mining. Click here for important disclosures about sponsor fees. 3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. 4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports. 5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own shares of Group Ten Metals, a company mentioned in this article.

Images provided by the author.

( Companies Mentioned: PGE:TSX.V; PGEZF:OTCQB; 5D32:FSE, )

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