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This is the week building up to the PDAC that starts on Sunday. Plenty of companies want to get news out this week, especially those with booths at the PDAC.
The start of the week didn’t disappoint, Barrick put out a hostile offer to Newmont in an effort to own the whole gold mining business.
Some of the juniors that I follow had news out, including a pick from the reports, and I did a video interview with Bob Archer from Newrange Gold (NRG.V).
Stocks In The News
Barrick Gold (ABX.T)
The newly formed Barrick from the reverse takeover of Randgold, with the smaller company management now in charge and wasting no time in dropping the gloves. Mark Bristow, the new top guy at Barrick, said he was interested in Newmont, but, not at a premium. On Monday, Barrick launched a hostile takeover, making an offer of an all stock deal based on current share prices. I play poker with a buddy, and we will sometimes tell each other what we have while playing a hand, and then taunt each other that I can tell you what I have and still beat you. Well brash Mark Bristow just did the same thing in a high stakes poker game of gold mining dominance. The street seems to think that Newmont’s merger with Goldcorp wasn’t a great deal, probably a good chance the Newmont shareholders will take the offer to join up with Mark Bristow and the new Barrick Gold.
Viva Gold Corp. (VAU.V)
Date started coverage: Jan. 29/2019
Closing price on date coverage started: $0.37
Friday closing price: $0.36
Viva Gold is a pick since the end of January, today they had news out on drilling results. They included a highlight hole of 33.5 metres of 2.6 g/t gold. In the news release, they mentioned that it is a flat sheet like body that is near surface. In past news it gets up to 100 metres thick and it includes higher grades in it as well. This is shaping up to the potential of a bulk tonnage discovery with healthy grade for that type of project. What makes things more interesting is that it is a Nevada play and one that could get the Nevada Premium. I will be watching for news on their next drilling program.
Azimut Exploration (AZM.V)
I have followed Azimut for several years as they have some very good exploration potential ground in Quebec. Some of it near the Eleanore deposit that made Virginia shareholders a lot of money. Today, they announced an expansion of their strategic alliance with SOQUEM Inc., a subsidiary of Ressources Quebec. The expansion is concerning a new strategic alliance to advance 3 copper-gold projects in Nunavik. They have also amended the strategic alliance on 6 gold projects in James Bay. I won’t go over all the terms of the various projects, I would recommend you look up the news release today for the terms. Basically, they will result in many millions to advance key projects. SOQUEM is a well-known institution in the Quebec mineral exploration as they are a big investor in Quebec mineral exploration. Azimut has around 50 million shares, and this deal will bring in a partner with deep pockets to advance key projects, while Azimut continues to benefit as a partner. I will be doing more homework to consider making Azimut a new pick.
Bayhorse Silver (BHS.V)
Bayhorse is a company that I recently reached out to, it is silver focused, in the US and has a plan to become a silver producer. Today, they announced that they have started production, part of the interesting thing about the project is that it has a very high-grade that they can create concentrate on the property. This makes it so they have very little rock, in this case a very high-grade silver concentrate. Silver stocks are not easy to find, and especially when they are at an important transition into production of high-grade silver. They currently have a valuation of less than $10 million that certainly sounds like worth taking a close look at. Which is exactly what I’m doing with Bayhorse, if they can meet milestones and prove up the concept they will surely see a higher valuation.
RNC Minerals (RNX.T)
RNC Minerals has an interesting project, having found extreme high-grade gold at their project in Australia. They also have a troubling share structure, it has been blown out to a nearly half billion share count. This one trades high volume with some significant swings, if your a daytrader, you will probably like this one. I’m looking for good projects in stocks that haven’t seen their stock structure having been blown out. Today, they announced new drill results. It included some of the obscene grade, but, I also noticed them talking up the 4-6 g/t hits. The market has priced this for the obscene grade material, they aren’t really interested in the lower grade stuff in this broken share structure stock. If they can’t find more of the obscene grade rock, this one will have a tough road going much higher with all the overhanging stock.
Newrange Gold (NRG.V)
Date started coverage: Jan. 28/2019
Closing price on date coverage started: $0.195
Today’s closing price: $0.20
Newrange is a new pick with an exciting Nevada exploration project that has a lot of potential to gain the Nevada Premium. If you want to learn more about the company, I had Bob Archer from Newrange on to tell us about the company’s prospects.
It’s been a busy Monday for news as we get closer to the PDAC. Over the next 15 days or so, we will see lots of news from the majors to juniors. The PDAC is the largest mining conference in the world, has been for decades, and lots of companies want to stand out. I expect to have lots to report on over the next couple weeks, stay tuned.
On that note, I encourage folks to check out the past reports on the website, plenty of hidden gems of companies and knowledge in them. Be my guest to share it around on your social media and email to friends that you think would be interested. Your efforts to promote my work is greatly appreciated.
All the best,
Allan Barry Laboucan
Allan Barry Reports
Advance Gold (AAX.V)
P.S. my reports are for information purposes only, before making any investment decisions it is important to do your homework and speak with your financial advisers.