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Live from the Precious Metals Summit - Ep 13

Episode 13 Oreninc MickeyFulp PaulHarris KaiHoffmann

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Top 10 Financings of September 2017

Top Ten's of September 2017

September 2017 saw 82 deals close in the Canadian financial markets for an aggregate C$290.9 million at an average of $3.5 million, up 48.3% over August when 102 financings closed for $196.2 million at an average of $2.0 million.

September saw 59 gold deals close for $234.6 million at an average of $4.0 million, up 130% from the $102.0 million raised in 49 gold deals in August at an average of $1.6 million. The top ten gold deals in September represented 82.7% of the total at $193.9 million.

The top ten deals by size in September totalled $197.9 million, some 31.9% of the total compared to $113.1 million in August, some 57.6% of the total.

Gold companies took six of the top ten spots, with manganese, zinc, copper and other taking one spot each.

#1 McEwen Mining                  $57.3 million

McEwen Mining (TSX:MUX) closed a bought deal private placement including the exercise in full of the over-allotment of 22.0 million shares @ C$2.25 for C$50.2 million. The proceeds will be used to purchase the Black Fox Complex that is a producing underground gold mine in Timmins, Canada.

#2 Novo Resources                 $56.0 million

Novo Resources (TSXV:NVO) completed a non-brokered private placement with Kirkland Lake Gold as a new strategic investor. The financing was for 14.0 million units @ C$4.00. The net proceeds will be used for exploration and development.

#3 Barkerville Gold Mines     $28.0 million

Barkerville Gold Mines (TSXV:BGM) completed a bought deal brokered private placement financing of 25.0 million flow-through shares @ $1.12 to fund the exploration and development of its Cariboo gold project in central British Columbia.

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Oreninc Index Update: October 16th, 2017

ORENINC INDEX jumps as big deals announced

 

ORENINC INDEX - Monday, October 16th, 2017

North America’s leading junior mining finance data provider

 

Follow us on facebook and find us on Twitter @Oreninc

Last week index score: 30.76 (Updated)

This week: 61.98

NuLegacy Gold (TSXV:NUG) commenced a fourteen-hole 16,000 feet reverse circulation and core drilling program to follow up on the successes of its 30-hole (~27,000 ft.) summer program.

 

Oreninc Mining Deal Club

Before we dive into this weeks’ numbers, we are excited to tell you about the Oreninc Mining Deal Club. Our new subscription service gives its members (you have to be an accredited investor) the ability to participate in selected high quality private placement financings in the junior resource space. Our expert panel, consisting of Brent Cook, Tim Oliver, Paul Harris and Kai Hoffmann, thoroughly vets every opportunity before it is presented to the OMDC members. In addition, we also prepare a fact sheet with input from all expert panel members. Members have received their first deal alert this past Thursday. We are expecting to present members with the next opportunity by mid next week. Sign up now at www.miningdealclub.com and don’t miss the next opportunity.

 

Oreninc Index

The Oreninc Index jumped in the week ending October 13th, 2017 to 61.98 from an updated 30.76 the previous week as a couple of large strategic deals opened.

Total fund raises announced almost quadrupled to C$149.6 million, a five-week high, which included six brokered financings for C$51.2 million, a five-week high, and four bought-deal financings for C$25.0 million, also a five-week high. The average offer size shot up to C$7.5 million, a 39-week high, whilst the total number of financings announced fell to 20, a seven-week low.

The gold price bounced back from recent weakness with a strong week to break back over the US$1,300/oz level and close at US$1,303/oz from US$1,276/oz the previous week. Gold is now up 13.6% since the start of the year. The van Eck managed GDXJ in contrast, had a volatile flat week and is now up 9.7% so far in 2017 to close the week at US$34.62. The US Global Go Gold ETF saw a week of growth following its first quarterly rebalance to close at US$13.04 from US$12.89 last week. The SPDR GLD ETF saw inventories close down at 853 tonnes from 854 tonnes the previous week.

In other commodities, silver continued above US$17/oz and saw strong growth to close at US$17.42/oz from US$16.83/oz a week ago. Copper continued its growth spurt and finished the week at US$3.13/lb from US$3.02/lb a week ago and zinc continued its upward trend and closed the week at US$3,250/t (US$1.51/lb) on the back of strong demand for base metals from China. Metals prices are showing signs of growth again and oil is not being left behind as WTI closing the week at US$51.42 a barrel from US$49.29 a week ago upon expectations from OPEC that the global oil glut will be cleared by 3Q18.

The Dow Jones Industrial Average continued to set records with yet another week of growth that saw it close at 22,871 from 22,773 last week. Canada’s S&P/TSX Composite Index posted a similar growth chart and closed up at 15,807 from 15,728 the previous week. The S&P/TSX Venture Composite Index also saw growth to close at 797.44 from 788.32 from the previous week.

This week also saw the Oreninc team record another podcast with the Mercenary Geologist Micky Fulp that focused on the increase in base metals prices and the jump in activity in the lithium space. We have also looked at the increasing attractiveness of projects in the US because of deregulation.

 

Summary:

  • Number of financings fell to 20, a seven-week low.
  • Six brokered financings were announced this week for C$51.2m, a five-week high.
  • Four bought-deal financings were announced this week for C$25.0, a five-week high.
  • Total dollars increased to C$149.6m, a five-week high.
  • Average offer size shot up to C$7.5m, a 39-week high.

 

 

Financing Highlights

 

Dalradian Resources (TSX:DNA) opened a C$78.25 million offering on a strategic deal basis with Orion Mine Finance and Osisko Gold Royalties.

  • Orion will invest C$50 million and Osisko C$28.25 million via a non-brokered private placement at C$1.47 per share, a 7% premium to the closing price of the prior trading day.
  • Osisko also plans to exercise 6.25 million warrants at C$1.04 to bring total funding to C$84.75 million.
  • The proceeds will be used for general working capital purposes.
  • Upon closing, Orion will own about 9.75% of Dalradian and Osisko 9.1%.
  • The deal means Dalradian is well-funded to move its Curraghinalt gold project in Northern Ireland through permitting.

 

Integra Resources (CSE:ITR) opened a C$25.08 million offering underwritten by a syndicate led by GMP Securities on a best efforts basis.

  • Issuance of 29.5 million subscription receipts @ C$0.85
  • Gross proceeds to be deposited in escrow to pay for the acquisition of the DeLamar gold property in Idaho, USA from Kinross Gold.
  • A significant portion of the proceeds will fund a 20,000m (predominantly RC) drill program to commence in 1Q18, aimed targeting gold-silver mineralization on extension from previous drill intercepts.
  • Integra Resources founded by management team of Integra Gold that was recently sold for C$590 million.

 

 

Major Financing Openings:

  • Dalradian Resources (TSX:DNA) opened a C$78.25 million offering on a strategic deal basis. The deal is expected to close on or about November 30th.
  • Integra Resources (CSE:ITR) opened a C$25.08 million offering underwritten by a syndicate led by GMP Securities on a best efforts basis. The deal is expected to close on or about October 30th.
  • Lithium X Energy (TSXV:LIX) opened a C$13.02 million offering underwritten by a syndicate led by Cormark Securities on a bought deal basis. Each unit includes half a warrant that expires in 36 months.
  • Kelt Exploration (TSX:KEL) opened a C$10.85 million offering on a best efforts basis. The deal is expected to close on or about October 27th.

 

Major Financing Closings:

  • Encanto Potash (TSXV:EPO) closed a C$100 million offering underwritten by a syndicate led by Taylor-DeJongh on a strategic deal basis.
  • Questerre Energy (TSX:QEC) closed a C$31.06 million offering underwritten by a syndicate led by Arctic Securities on a best efforts basis.
  • Euro Sun Mining (TSX:ESM) closed a C$8.6 million offering on a best efforts basis.
  • Sandspring Resources (TSXV:SSP) closed a C$6.02 million offering on a best efforts basis.

 

Company news

NuLegacy Gold (TSXV:NUG) commenced a fourteen-hole 16,000 feet reverse circulation and core drilling program to follow up on the successes of its 30-hole (~27,000 ft.) summer program.

Analysis

The fall drilling program will follow-up on the success of the summer wild-cat drilling program that added the Serena and VIO discoveries and confirmed the Avocado, Western Slope, Deep Iceberg and Jasperoid Basin prospects. It will aim to expand the Serena zone and connect it with the North zone, test underneath and laterally from the VIO discovery, and wildcat tests of structural targets similar to the target that generated the Serena discovery.

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Oreninc Index Update: October 9th, 2017

ORENINC INDEX falls as financings dwindle

 

ORENINC INDEX - Monday, October 9th, 2017

North America’s leading junior mining finance data provider

 

Follow us on facebook and find us on Twitter @Oreninc

 

Last week index score: 31.64 (Updated)

This week: 28.24

 

Prospero Silver (TSXV: PSL) received final TSX Venture Exchange approval of the option to own agreement with and Exploraciones del Altiplano.

Avrupa Minerals (TSXV: AVU) provided an exploration update on its properties in Portugal and Kosovo. 

Zinc One Resources (TSXV:Z) entered into an investor relations agreement with Monica Hamm, an investor relations professional with more than 20 years’ experience.

 

The Oreninc Index fell in the week ending October 6th, 2017 to 28.24 from a updated 31.64 the previous week.

Total fund raises announced increased slightly to C$37.0 million, a two-week high, which included one brokered financing for C$2.0 million, a two-week high, and no bought-deal financings. The average offer size increased to C$1.6 million, a two-week high, whilst the total number of financings announced fell to 23, a six-week low.

The gold price had another weak week and it continued its downward trend, although rebounding a tad at the end of the week to close at US$1,276/oz from US$1,279/oz the previous week. Gold is now up 11.3% since the start of the year. The van Eck managed GDXJ in contrast, was stable through most of the week and posted growth at the end and is now up 9.4% so far in 2017 to close the week at US$34.59. The recently launched US Global Go Gold ETF saw its first quarterly rebalance since its launch had a similar week to the GDXJ close at US$12.89 from US$12.66 last week. The SPDR GLD ETF saw some selling activity and inventories closed down at 854 tonnes from 864 tonnes the previous week.

In other commodities, silver remained below US$17/oz but closed the week with positive momentum to close at US$18.83/oz from US$16.65/oz a week ago. Copper saw a burst of growth and finished the week above the US$3/lb mark again to close at US$3.02/lb from US$2.95/lb a week ago. With metals prices showing signs of growth again, oil slid below the US$50 per barrel mark and with WTI closing at US$49.29 a barrel from US$51.57 last week.

The Dow Jones Industrial Average continued to set records and had a strong week to close at 22,773 from 22,405 last week. Canada’s S&P/TSX Composite Index also saw a strong week of growth and closed up at 15,728 from 15,634 the previous week. The S&P/TSX Venture Composite Index also saw growth to close at 788.32 from 781.23 the previous week.

 

Summary:

  • Number of financings decreased to 23, a six-week low.
  • One brokered financing was announced this week for C$2.0m, a two-week high.
  • No bought-deal financings were announced this week, a three-week low.
  • Total dollars grew to C$37.0m, a two-week high.
  • Average offer size increased to C$1.6m, a two-week high.

 

 Financing Highlights

 

East Africa Metals (TSXV:EAM) opened a C$13.55 million offering on a strategic deal basis. Each unit includes half a warrant that expires in 24 months.

  • Part of a financing package with Luck Winner Investment that also includes project development financing of up to US$250 million and an unsecured loan of C$2.0 million.
  • The private placement is for 52.1 million units @ C$0.26.
  • The financings are to develop East Africa’s gold projects in Ethiopia.

 

Major Financing Openings:

  • East Africa Metals (TSXV:EAM) opened a C$13.55 million offering on a strategic deal basis. Each unit includes half a warrant that expires in 24 months.
  • Traverse Energy (TSXV:TVL) opened a C$3.5 million offering on a best efforts basis.
  • Metallis Resources (TSXV:MTS) opened a C$2.2 million offering on a strategic deal basis.  Each unit includes half a warrant that expires in 24 months.
  • Balmoral Resources (TSX:BAR) opened a C$2 million offering on a best efforts basis. The deal is expected to close on or about October 10th.

Major Financing Closings:

  • Osisko Mining (TSX:OSK) closed a C$92.36 million offering underwritten by a syndicate led by Canaccord Genuity on a bought deal basis.
  • Atlantic Gold (TSXV:AGB) closed a C$11 million offering underwritten by a syndicate led by Canaccord Genuity on a bought deal basis.
  • QMX Gold (TSXV:QMX) closed a C$6.41 million offering underwritten by a syndicate led by Mackie Research Capital on a bought deal basis.
  • Barksdale Capital (TSXV:BRO) closed a C$5.41 million offering on a best efforts basis.

 

Company news

Prospero Silver (TSXV: PSL) received final TSX Venture Exchange approval of the option to own agreement with and Exploraciones del Altiplano.

  • The agreement provides Prospero with an option to earn a 100% right, title and interest in and to Altiplano's Buenavista claims in Durango, Mexico, subject to the reservation by Altiplano of a 2% NSR.
  • A Prospero director owns or controls, indirectly over 20% of the issued shares of Altiplano.

Analysis

Prospero aims to discover world-class precious metal projects in the major mineral belts of Mexico and so adding to its exploration land package is part of its strategy as doing so enables the company to identify more exploration targets.

 

Avrupa Minerals (TSXV: AVU) provided an exploration update on its properties in Portugal and Kosovo. 

  • In Portugal, Avrupa’s updated study of newly-available information shows that the Alvalade project holds a significant brownfields/development target in the Caveira-Lousal-Sesmarias district. Historical reports suggest that up to 30Mt of copper-zinc-iron-bearing massive sulphide material remain in the ground at the Lousal mine and the company has identified greenfields exploration targets along the entire 20km trend. Avrupa is actively looking for a joint venture partner to further advance the Alvalade opportunity.
  • At the Alvito copper-gold project that OZ Minerals is funding, ground geophysical surveys are nearly completed whilst geological mapping continues, and through which Avrupa has discovered new copper targets. Plans for 1,500-2,000m drilling program are underway for a mid-October start-up
  • At the Covas tungsten JV with Blackheath Resources, plans are underway for a drill test of a bulk tonnage tungsten target with a single hole, deep test of a coincident geophysical and geochemical anomaly is planned for the fourth quarter.
  • In Kosovo, a drilling program was completed at the Slivovo gold project including 17 holes and 6,176m. The updated geological model shows that the structure is more complicated than previously interpreted, but leaves room and targets for future drilling.

Analysis

Project generator Avrupa continues to successfully work up and advance its multiple properties in Europe as well as bringing forward new properties to a JV-ready state with considerable news flow potential going forward.

 

Zinc One Resources (TSXV:Z) entered into an investor relations agreement with Monica Hamm, an investor relations professional with more than 20 years’ experience.

  • A one year that may be extended by agreement of the parties.

Analysis

The appointment of Hamm should see increased investor relations-related activity by the company and result in a broader-based communication of its story that may ultimately result in greater investor appetite for its stock.

 

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Oreninc Index Update: October 2, 2017

ORENINC INDEX falls hand-in-hand with gold price

 

ORENINC INDEX - Monday, October 2nd, 2017

North America’s leading junior mining finance data provider

 

Follow us on facebook and find us on Twitter @Oreninc

 

Last week index score: 58.72 (Updated)

This week: 30.62

 

LiCo Energy Metals (TSXV:LIC) began Phase I diamond drilling on its Teledyne and Glencore Bucke cobalt properties in Ontario.

 

The Oreninc Index fell in the week ending September 28th, 2017 to 30.62 from an updated 58.72 the previous week.

Total fund raises fell considerably to C$33.9 million, a two-week low, which included no brokered financings and no bought-deal financings. The average offer size also fell to C$1.3 million, a two-week low, whilst the total number of financings announced fell to 28, a two-week low.

With precious metals investors meeting at the Denver Gold Forum in Colorado Springs the past week, there was a workman-like feel to the meeting and a positive outlook on the precious metals space, with sleeves rolled-up to deal with the fits and starts of the gold price movement.

The gold price had an up-and-down week whilst it continued its downward trend in the past couple of weeks closing at US$1,279/oz from US$1,297/oz the previous week. Gold is now up 11.5% since the start of the year. The van Eck managed GDXJ fell in line with the gold price is now up 6.5% so far in 2017 to close the week at US$33.59. The recently launched US Global Go Gold ETF also had a negative week to close at US$12.66 from US$12.95 last week. The SPDR GLD ETF continued to add ounces and inventories closed up at 864 tonnes from 856 tonnes the previous week.

In other commodities, silver remained below US$17/oz and lost more ground to close at US$16.65/oz from US$16.99/oz a week ago. Copper continued to hold ground and finished the week with a modest gain as it closed at US$2.95/lb from US$2.94/lb a week ago. Whilst metals prices have faltered recently, oil has seen growth and continues over the US$50 per barrel mark, closing the week at US$51.57 per barrel from to US$50.66 last week.

The Dow Jones Industrial Average continues at near record levels to close at 22,405 from 22,349 last week. Canada’s S&P/TSX Composite Index saw strong growth and closed up at 15,634 from 15,545 the previous week. The S&P/TSX Venture Composite Index saw growth to close at 781.23 from 778.10 the previous week.

 

Summary:

  • Number of financings decreased to 28, a two-week low.
  • No brokered financings were announced this week, a two-week low.
  • No bought-deal financings were announced this week, a two-week low.
  • Total dollars fell to C$33.9m, a two-week low.
  • Average offer size dropped to C$1.3m, a two-week low.

 

 

Financing Highlights

 

Major Financing Openings:

  • EurOmax Resources (TSXV:EOX) opened a C$7.9 million offering on a best efforts basis. Each unit includes a warrant that expires in 36 months.
  • Wealth Minerals (TSXV:WML) opened a C$3.74 million offering on a best efforts basis.
  • WestKam Gold (TSXV:WKG) opened a C$3 million offering on a best efforts basis.  Each unit includes a warrant that expires in 36 months.
  • Almonty Industries (TSXV:AII) opened a C$2.7 million offering on a strategic deal basis. The deal was expected to close on or about September 29th.

Major Financing Closings:

  • McEwen Mining (TSX:MUX) closed a C$57.34 million offering underwritten by a syndicate led by Cantor Fitzgerald Canada on a bought deal basis. Each unit included half a warrant that expires in 13 months.  
  • Barkerville Gold Mines (TSXV:BGM) closed a C$35 million offering underwritten by a syndicate led by Canaccord Genuity on a bought deal basis.  
  • Bravura Ventures (TSXV:BVQ) closed a C$3 million offering on a best efforts basis.  Each unit included half a warrant that expires in 12 months.
  • Canyon Copper (TSXV:CNC) closed a C$1.5 million offering on a best efforts basis.

Company news

LiCo Energy Metals (TSXV:LIC) began Phase I diamond drilling on its Teledyne and Glencore Bucke cobalt properties in Ontario.

  • LiCo expects to drill a combined 3,500m on both properties.
  • The program aims to confirm historical drilling results and further expand the resource potential up and down dip and along strike.
  • Drilling will start on Glencore Bucke for 1,200m. It will then move to Teledyne for 1,000m.
  • Historically, Teledyne Canada completed 36 diamond drill holes totalling 3,323m on Glencore Bucke, and 28 surface and underground diamond drill holes totalling 3,160m on Teledyne.

Analysis

Confirmation of historical drilling results will provide a base for LiCo to then expand mineralisation and build a NI 43-101 compliant minerals resource estimate.

 

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Oreninc Index Update: September 25, 2017

ORENINC INDEX increases despite stronger US dollar

 

ORENINC INDEX - Monday, September 25th, 2017

North America’s leading junior mining finance data provider

 

Follow us on facebook and find us on Twitter @Oreninc

Last week index score: 25.86

This week: 57.81

Prospero Silver (TSXV:PSL) began a 12-hole drilling program at Petate in Hidalgo, Mexico.

Zinc One Resources (TSXV:Z) entered into a binding letter of intent with Nubian Resources to sell the Esquilache silver project in Southern Peru.

Castle Silver Resources (TSXV:CSR) joined the Cobalt Institute as associate industrial member.

 

The Oreninc Index rebounded in the week ending September 21st, 2017 to 57.81 from 25.86 the previous week.

Total fund raises announced tripled to C$97.5 million, a two-week high, which included three brokered financings for C$45.9 million and one bought-deal financing for C$40.5 million. The average offer size also tripled to C$3.1 million, a two-week high, whilst the total number of financings announced increased to 31, a three-week high.

The trend of metals price growth in recent weeks ran out of steam and retrenched on profit-taking and on increased US dollar strength as the US Federal Reserve meeting indicated that it is likely raise interest rates in the final quarter and it will start unwinding the quantitative easing program.

Gold was pounded back below US$1,300/oz at the start of week and continued the downward trajectory for most of the week before bouncing a little as the week drew to a close, finishing at US$1,297/oz. Gold is now up 13.1% since the start of the year. The van Eck managed GDXJ fell in line with the gold price is now up 8.7% so far in 2017 to close the week at US$34.29. The recently launched US Global Go Gold ETF also had a negative week to close at US$12.95 from US$13.30 last week. The SPDR GLD ETF continued to add ounces and inventories closed up at 856 tonnes from 838 tonnes the previous week.

In other commodities, silver continued the slide it began a couple of weeks ago after peaking over US$18/oz and fell below US$16/oz to close at US$16.99/oz. Copper essentially held ground this week and closed at US$2.94/lb, the same as the previous week. As metals fell, oil saw growth and crept back over the US$50 per barrel mark to US$50.66 from US$49.89 per barrel last week.

The Dow Jones Industrial Average put in another record-breaking week to close at 22,349 from 22,268 last week, pulling back after hitting an intra-week high of 22,412. Canada’s S&P/TSX Composite Index also saw strong growth and closed up at 15,545 from 15,173 the previous week. The S&P/TSX Venture Composite Index fell slightly to close at 778.10 from 779.66 the previous week.

The Oreninc team was in Colorado for the Precious Metals Summit in Beaver Creek this past week to get updates from many companies in the precious metals space, and we found time to record the next in the podcast series with Mercenary Geologist Micky Fulp.

Summary:

  • Number of financings increased to 31, a three-week high.
  • Three brokered financings were announced this week for C$45.9m, a two-week high.
  • One bought-deal financing was announced this week for C$40.5m, a two-week high.
  • Total dollars tripled to C$97.5m, a two-week high.
  • Average offer size also tripled to C$3.1m, a two-week high.

 

Financing Highlights

 

McEwen Mining (TSX:MUX) opened a bought deal private placement to sell 18 million shares @ C$2.25 for gross proceeds of C$40.5 million.

  • Each unit includes half a warrant exercisable for 53 weeks @ C$2.70.
  • The proceeds will be used to fund the acquisition of the Black Fox Complex and associated assets and liabilities in the Township of Black River-Matheson, Ontario, Canada, and the Grey Fox Property, an exploration property located near the Black Fox Complex.

 

Major Financing Openings:

  • McEwen Mining (TSX:MUX) opened a C$40.5 million offering underwritten by a syndicate led by Cantor Fitzgerald Canada on a bought deal basis. Each unit includes half a warrant that expires in 13 months. The deal is expected to close on or about September 22nd.
  • Euro Sun Mining (TSX:ESM) opened a C$10 million offering on a best efforts basis. The deal is expected to close on or about September 29th.
  • Cipher Resources (TSXV:CIFR) opened a C$8.1 million offering on a best efforts basis.
  • Sandspring Resources (TSXV:SSP) opened a C$6.02 million offering on a best efforts basis. Each unit includes a warrant that expires in five years.

Major Financing Closings:

  • Ikkuma Resources (TSXV:IKM) closed a C$12.37 million offering on a best efforts basis.
  • Reunion Gold (TSXV:RGD) closed a C$10.98 million offering on a best efforts basis. Each unit included half a warrant that expires in three years.
  • Osisko Metals (TSXV:OM) closed a C$8 million offering underwritten by a syndicate led by Canaccord Genuity on a bought deal basis.
  • Balmoral Resources (TSX:BAR) closed a C$4.06 million offering underwritten by a syndicate led by PI Financial on a best efforts basis.

Company news

Prospero Silver (TSXV:PSL) began a 12-hole drilling program at Petate in Hidalgo, Mexico.

  • Drilling will test four targets under the on-going 6,950m reconnaissance drill campaign funded by strategic partner Fortuna Silver Mines.
  • Petate is the most advanced of Prospero's projects and where high-level epithermal alteration is exposed over a 5x4km area with highly anomalous gold and silver hosted in extensive outcrops and float of steep to strata-bound jasperoid.

Analysis

Petate is arguably the most exciting and highly prospective of all the targets that will be drill-tested under the funding agreement with Fortuna Silver and so many eyes are eagerly awaiting its results.

 

Zinc One Resources (TSXV:Z) entered into a binding letter of intent with Nubian Resources to sell the Esquilache silver project in Southern Peru.

  • Esquilache is a non-core asset for Zinc One.
  • Nubian paid C$25,000 deposit and agreed to pay C$600,000 on closing in cash and stock.

Analysis

The sale of Esquilache will facilitate the company’s plan to focus on the exploration and development of its Bongará mine and Charlotte-Bongará zinc oxide projects in north-central Peru and focus on being a pure zinc exploration and development company.

 

 

Castle Silver Resources (TSXV:CSR) joined the Cobalt Institute as associate industrial member.

 

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