Oriole Resources (LON: ORR) – A Small Gold Player With Big Ambitions

The Oriole Resources PLC company logo
Oriole Resources PLC
  • LON: ORR
  • Shares Outstanding: 702M
  • Share price C$0.35 (28.05.2020)
  • Market Cap: C$2.4M

Interview with Tim Livesey, CEO of Oriole Resources (LON: ORR).

Small in stature but mighty in ambition, Oriole Resources is a gold and base metals player with legacy projects in Senegal and Turkey, in addition to new projects in Cameroon.

Is there some big potential for this gold explorer, or will it get consigned to the gold dustbin the same as so many gold explorers before it?

 We Discuss:

  1. Company Overview
  2. Business Plan, Background Story and Legacy
  3. Plans, Problems and Values of Legacy Projects: Turkey, Thani Stratex & Senegal
  4. Why Join This Company Instead of Starting Anew for Cameroon Assets?
  5. Delivering the Offloading and Disposal Strategy
  6. Cameroon Project: Creating Value and Strategy Going Forward
  7. Financing Cameroon and Options Available
  8. Skin in the Game and Management Remuneration
  9. Cash Position
  10. Share Price, Shareholders and Telling the Story: Potential Roll-Back?
  11. Timeline for Value Creation

If you like this Oriole Resources interview and the gold space is something you’re interested in, why not read a different gold article, or even watch one of our latest gold interviews?

Company Website: https://orioleresources.com/

If you see something in this article that you agree with, or even disagree with, please let us know in the comments below.

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux Investor communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.

The Oriole Resources PLC company logo

Evergold (TSX-V: EVER) – Replicating The Success Of GT Gold?

The Evergold Corp. company logo
Evergold Corp.
  • TSX-V: EVER
  • Shares Outstanding: 32M
  • Share price C$0.70 (28.05.2020)
  • Market Cap: C$22M

Interview with Kevin M. Keough, President & CEO of Evergold Corp. (TSX-V: EVER).

Evergold Corp. is a gold-silver-copper explorer and project developer. The company’s assets are in British Colombia, Canada.

Evergold Corp. has four projects. The two flagship projects are called Snoball and Golden Lion. The two non-core projects are named Spanish Lake and Holy Cross. Can the Evergold team replicate its success at GT Gold?

Evergold was set up before GT Gold, but was put on the back-burner while the team focussed on GT. What is the plan going forward in 2020 for this gold player?

 We Discuss:

  1. Company Overview
  2. Business Plan: What Do They Want to Build?
  3. Track Record and Management Experience
  4. Focus on Exploration: Why not Delve into Other Production Stages?
  5. The Two Projects: What’s There and Plans for Each
  6. Cash Position & 2020 Drilling Plans
  7. End Goal and Means of Getting There
  8. Management Remuneration
  9. Big Supporters and Shareholders
  10. Estimated Timing for New Results

If you are a fan of this Evergold Corp. interview and the gold space is something you’re interested in, why not read a different gold article, or even watch one of our latest gold interviews?

Company Website: https://www.evergoldcorp.ca/

If you see something in this article that you agree with, or even disagree with, please let us know in the comments below.

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux Investor communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.

The Evergold Corp. company logo

Cartier Resources Inc. (TSX-V: ECR) – A Severely Undervalued Gold Prospect?

The Cartier Resources company logo
Cartier Resources Inc.
  • TSX-V: ECR
  • Shares Outstanding: 192M
  • Share price C$0.19 (28.05.2020)
  • Market Cap: C$36M

Interview with Philippe Cloutier, President & CEO of Cartier Resources Inc. (TSX-V: ECR).

Cartier Resources was listed on the TSX-V in 2007. It is an exploration & development company focussed on gold discoveries in Québec. Cartier Resources has seven projects. The flagship project, Chimo Mine, is the current focus, while the other projects have been put on the backburner.

There are gold juniors with much less than Cartier Resources that are worth three times as much. Why? It’s time to dig into this gold mining story.

 We Discuss:

  1. Company Overview
  2. Business Plan and History of Company: Getting to Where They are Now
  3. Criteria for Choosing Assets: What did Agnico Eagle Buy Into & Their Influence on Decision Making
  4. Drilling Since 2017: What’s There?
  5. Raising the Share Price: What Can They Do?
  6. Light at the End of the Tunnel: End Goal and Timeline
  7. 3 Other Assets: Focus and Plans
  8. Cash Position
  9. Management Shareholding

If you are a fan of this Cartier Resources interview and the gold space is something you’re interested in, why not read a different gold article, or even watch one of our latest gold interviews?

Company Website: https://ressourcescartier.com/

If you see something in this article that you agree with, or even disagree with, please let us know in the comments below.

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux Investor communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.

The Cartier Resources company logo

Rio2 (TSX-V: RIO) – No Bullsh*t Gold Mining

The RIO2 company logo.
Rio2 Ltd 
  • TSX-V: RIO
  • Shares Outstanding: 181M
  • Share price C$0.67 (19.05.2020)
  • Market Cap: C$102M

There are too many gold juniors to count right now, as they all try to capitalise on a gold price that has risen substantially over US$1,700/oz.

A picture of cartoon gold bars.

However, while all of them want your hard-earned money, not all of them will succeed. One of the most important green lights, and sadly one of the rarest when it comes to investing, is honesty.

Honesty

While it’s fashionable and often sensible to approach investment decisions from an analytical standpoint, Crux Investor has always been of the opinion that the fundamentals of a business are equally significant in your due diligence.

One crucial component is honesty: if investors know truthfully what they are getting themselves into, they will be a lot less surprised and angry if it goes wrong. Mining is mining, and there are never any guarantees, but as long as we are given all of the information and everything is transparent, we can have no complaints if we decide to invest and it doesn’t pan out perfectly.

One company that is a perfect example of this phenomenon is Rio2 Ltd. We’ve previously discussed the value proposition on this platform.

Rio2

Rio2 is a Chilean gold explorer and developer.

We recently sat down for an interview with the CEO, Alex Black. It immediately became apparent that he was a candid, straight-talking executive; it’s little surprise he’s an Aussie. He seems to genuinely want to make money for Rio2 shareholders.

The National Flag of Chile

We’d love if all interviews started off the way our interview with Black did. Just a few minutes in, before we had the chance to even ask a question, Black immediately spoke about Rio2’s remuneration practices. He stated that he wanted to set a precedent. It’s about time CEOs started understanding this: they are working for shareholders, not the other way around.

For a company of its size, Black’s remunerations package is encouragingly modest. Black holds c. 15M shares (from around 181M total). He paid for all of them and has invested a total of C$2.5M of his own money. Black is paid US$300,000 pa, and he doesn’t sit on any other boards or advisory committees. If you compare Black’s annual salary to the amount of money he has already invested, it becomes clear that Rio2 is the furthest thing possible from a lifestyle company. Black has a lot of skin in the game and is aligned with shareholders in a way that is becoming increasingly uncommon.

Mining investment is a game that is so often rigged out of their favour; it’s the reason Crux Investor started up in the first place. We want to tilt the balance of knowledge back to more favourable terms for investors, and with CEOs like Black, this becomes a lot more accomplishable.

A Cruel Market

With such a degree of honesty, investors might be surprised that Rio2 has struggled when it comes to its market perception.

While the share price has rallied recently and Rio2 appears to be gaining some traction, it has been fairly stagnant for much of the last year.

The market punished Black for being pragmatic. He inherited a large feasibility study plan for the Fenix Gold Project when Rio2 and Atacama Pacific Gold Corporation agreed to merge in May, 2018. After conducting an updated pre-feasibility study on Fenix, the resource halved in size. The market winced.

This blow was compounded by water permit concerns in Brazil, and the share price fell further. Black also believes wholeheartedly that Rio2 has been the victim of naked shorting after conducting an internal investigation, and this has had a further detrimental effect, but that will be explored in a future article…

Gold ore

The water issue has since been solved via a temporary workaround in the form of trucking water in from the nearest regional centre 140km away. During our interview, Black is clear to emphasise that this solution works. A 30t tanker truck leaving the centre every 20 minutes should satisfy Rio2’s thirst. Is this an “elegant solution” for a “complex process” as Black claims? the trucking fix should see Rio2 through the start of production comfortably until full water permits can be obtained. It appears to be a dexterous workaround. The costing in the PFS is US$14/t of water, which is baked into the US$1000/oz AISC.

Punishing Pragmatism

While the market can spend a lot of its time dreaming of 20 baggers, sensible investors will recognise the attractiveness of stable, secure, de-risked returns as the base of their portfolio.

Rio2’s move was never going to be appreciated by everyone. It seems strange that the market appears to lack faith in Black’s ability to deliver this project considering that Black and his team have already demonstrated they can make investors money: his experienced management team built Rio Alto from a C$12M company in 2009 to a C$1.2Bn company in 2015 at the time of the acquisition by Tahoe Resources Inc.

The reality is that by reducing the size of the plan, Black will be able to finance the CAPEX much more easily. It has fallen from a sizeable US$400M to just a smidgen over US$100M today. Also in the updated PFS, the strip ratio is lower and the IRR is marginally higher, and while the AISC has increased, future optimisations could well bring it down once the ball has started rolling. Rio2 will now get into production much more quickly and will finance this with relative ease. The company can start taking advantage of an elevated gold price by throwing off cash flow. This cash flow will give the company options and will allow it to consider expanding the resource back to its original level, exploration, and M&A. It’s a smart business strategy that the market now appears to be cottoning on to.

Fenix Gold Project

Investors need to appreciate this operation for what it is: a low-grade, bulk-tonnage gold operation.

Do not sniff at the grade. Focus on the margins, the management’s track record, and the significantly reduced level of risk. What Rio2 has at the Fenix Gold Project is, quite simply, the largest undeveloped gold heap-leach project in America, with 5Moz gold in M&I resources.

Timescale

Investors will now want to know what sort of timescale they are looking at for the first shovel in the ground at Fenix.

Rio2 has been aiming to construct the mine as quickly as possible to accelerate getting into production. Once in production at an initial 100,000oz gold per annum, Rio2 aims to ramp up to a mid-tier production level of 200,000oz gold pa. The commencement of construction is guided for Q4/20: it seems little surprise the market has been getting increasingly excited.

Making It Happen

Rio2 finished up last year with working capital of c. C$16M.

This should be more than enough to carry the company through to the end of Q2/21. Rio2 has recently filed its Environmental Impact Assessment (EIA), which was completed from scratch: no mean feat.

The process of obtaining an environmental permit should be finalised by Q2/21; then, finalising mining permits will move into the centre of Rio2’s vision. Black expects to receive the final construction permit in October 2021. At this moment, it will be time to roll his sleeves up and get gold mining!

Financing the significantly reduced CAPEX at Fenix should be relatively simple, and the process has started, with conversations taking place. Black is very confident there won’t be any bumps in the road. The financial plan should hopefully become transparent by the end of 2020. Until then, investors will want to see Black focus on continuing to drive the share price up while getting the story out to new investors in an exciting fashion.

Conclusion

As I have mentioned in many previous articles, I am a staunch believer in uncovering small, undervalued mining companies and getting in early before the market has recognised their value.

In this instance, I think there is the possibility that there could be a major value discrepancy at Rio2, which could have bee caused by the issues previously mentioned combined with ineffective marketing practices. The market’s value doesn’t seem to match up to the mid-tier production prospects on display.

However, the final decision is for you to make. Why not investigate further? I doubt you will be disappointed.

I’ve reviewed other examples of potentially undervalued companies in recent months. Feel free to check out the articles if you have a spare moment. You could be onto a winner.

Company Website: https://www.rio2.com/

If you see something in this article that you agree with, or even disagree with, please let us know in the comments below.

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux Investor communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.

The RIO2 company logo.

RNC Minerals (TSX: RNX) – Share Rollback Clearly Good for Retail Shareholders

The RNC Minerals Company Logo.
RNC Minerals
  • TSX: RNX
  • Shares Outstanding: 608M
  • Share price C$0.57 (23.05.2020)
  • Market Cap: C$347M

Interview with Paul Huet, CEO of gold producer, RNC Minerals (TSX:RNX).


This gold producer has been delivering good news after good news recently.

A picture of cartoon gold bars.

It has all been enabled by solid gold production numbers and the resulting cash. And it hasn’t happened by accident, or just because the price of gold has risen $500 in the last 8-months. This turnaround story, led by CEO, Paul Huet, has happened by design and rigorous planning.

Exciting Moves

The recent news flow is also by design and rigorous planning. Some exciting moves by the company; buying back of the entire Morgan Stanley Royalty; the acquisition of Spargos Reward; a name change; and a rollback. Shareholders are being asked to vote on these in June as they require shareholder approval.

Not that we can imagine why shareholders would want to contradict the companies recommendations, we thought we should look at the moving parts again.

Morgan Stanley Royalty

RNC Minerals has managed to eliminate the Morgan Stanley royalty that has stood for decades. This move is worth tens of millions to the bottomline, and this should have a truly transformative impact on the company’s ability to profitably fill the Higginsville Mill, which is the name of the game.

Spargos Acquisition

A group of four mining workers stand proudly in front of a huge hunk of gold ore.
Beta Hunt Coarse Gold

The Spargos acquisition is super smart. It adds higher-grade ounces to the RNC feed for their mill. It also signals to Maverix that the negotiation on their Beta Hunt royalty just got serious. RNC Minerals has all the feed it needs for several years and is happy to play the waiting game. Beta Hunt is a significant proportion of the Maverix revenue. And it hard to see how RNC Minerals makes money mining their under the current royalty agreement with Maverix Metals. Maverix needs to come to the table with a reasonable offer or be prepared to write down its revenue forecasts from Beta Hunt for the foreseeable future. Tough play by Huet, but absolutely in the interests of the company and shareholders as always.

Karora Resources

The name change is a no-brainer. Institutions and gold funds still think of RNC Minerals as the Royal Nickel Company. Why, I don’t know, but they do. We’ve had those conversations ourselves. I don’t care what the new name is and to focus on it is to miss the point. Huet has instigated wholesale change in the company. It is producing gold; it has a mill; it has c.$40M cash; it has removed a large royalty component to costs; it has replaced the operational team; reduced costs; reduced AISC; consistently delivered ounces through fires, floods and COVID-19; it has made cheap accretive acquisitions; I can go on and on. The point is it has been all-change throughout the company, and it’s time for Huet to put his stamp on the things. I’ll give him this one without missing a beat.

Share Consolidation

In addition, a share rollback is what investors have been waiting for. For savvy investors this isn’t a case of why, but why haven’t they done this sooner. This move, if voted through transforms the company from junior to mid-tier territory. It is especially good for long suffering retail investors. Why?

US Generalist Funds cannot invest in penny stocks. The roll back removes this barrier and opens RNC Minerals up to significant global trading accounts. Finally! And as a +100,000 oz producer, it gives the company a capital structure in line with the piers it aspires to compete with. Perhaps this next reason is a little forward looking, but not out of line with current aspirations for the company, should the company be in a position to look at M&A in the US, and potentially a listing in the US at some point in the future, it takes them past the required $3 barrier. But perhaps the biggest component which is often forgotten, by retail investors in particular, is the ability to use margin.

Prior producer consolidations have all been well received. Companies who have successfully consolidated: Americas Gold & Silver, Endeavour, Eldorado, Equinox, Golden Star, Leagold, Teranga, TorexGold. Verus Peers the average performance metrics look good:

+26% 6-month; +44% 12-month; +32% 24-month

Other important factors to consider in another article are:

  1. Improved per share metrics – greater analysis accuracy, better financing pricing, lower commissions for those charged on a share basis
  2. Institutional / Banker / Broker support – these guys want a rollback so they can support the stock
  3. Increased institutional investment eligibility – gets company out of the penny stock territory and into significantly increased liquidity
  4. Increased institutional investors should reduce shorting
  5. Current gold bull environment is positive

If you are a shareholder, first of all congratulations, this company is finally going places. And secondly, my take on the shareholder vote is show confidence in the CEO who has turned this ship around and vote with the company and its recommendations and look the future because it is bright.

CLICK HERE to watch the full interview.

Company Website: http://www.rncminerals.com/

If you see something in this article that you agree with, or even disagree with, please let us know in the comments below.

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux Investor communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.

The RNC Minerals Company Logo.

Novo Resources (TSX-V: NVO) – A Review

The Novo Resources Corp. company logo
Novo Resources Corp.
  • TSX-V: NVO
  • Shares Outstanding: 188M
  • Share price C$2.93 (18.05.2020)
  • Market Cap: C$551M

A company that some of my viewers have been mentioning in the last few months is Novo Resources Corp. CRUX Investor interviewed president, Quinton Hennigh, in February. I was intrigued by the stellar ascent of the Novo Resources story, as the market clearly was, with the company’s share price approaching C$4 at the time.

A picture of cartoon gold bars.

Novo Resources (TSX-V: NVO)

Novo Resources is a particularly topical gold explorer right now.

Its recent momentum has been largely driven by Novo Resources uncovering another broad gold-bearing swale, or gold-bearing channel, at the Paradise prospect, found within its Egina gold project in Western Australia’s Pilbara region.

Founded in 2009, Novo Resources is an Australian Gold Explorer with 3 projects: the flagship Karratha Gold project, the Beatons Creek Gold project, and 70% interest in a number of tenements in the Marble Bar region of Western Australia. Novo Resources does not have a producing gold asset yet and, in truth, the story of Novo Resources is an unconventional mining investment story, and it is one that is difficult to understand using conventional mining measures.

This is a gold story investors are very interested in, and these investors deserve to have a greater understanding of the pros and cons of Novo Resources before parting with their hard-earned cash.

Understanding The Value Proposition Of Novo Resources

Let’s list the pros and cons:

Green Lights

A traffic light on green

Gold Focussed

As simple at it sounds, Novo Resources has a definitive gold focus. This shouldn’t be underestimated; many mining companies lack the refinement and efficiency that a single concentration can bring. This is a major bonus.

Land Position

The land position that Novo Resources has tied up in the Pilbara and Karratha regions is a significant bonus. While the exploration licences are something of a funding liability, and Novo has struggled to define resources so far, it is important to remember that this is a gold province and Novo will continue to explore the region more efficiently with time.

Ground penetrating radar and mechanical sorting are not ends in themselves, but they are useful tools that help identify gold-rich ground and then subsequently quantify bulk samples more quickly.

Novo having a dominant land position and improved explorational tools is a clear positive.

Farm-In Agreement With Sumitomo Corporation

The agreement affords Sumitomo the right to earn-in 40% of the Egina project, by spending US$30M over the course of 3 years.

The value of the carried 60% to be held by Novo is therefore placed at US$45M (c. C$60M) on a look through basis. It’s a smart deal.

Preservation Of Cash

The Sumitomo deal helps Novo Resources preserve cash. Right now, Egina appears to be the most active project within Novo Resources’ portfolio; Sumitomo is funding this activity.

High-Quality Corporate Management

Dr. Hennigh has carried out some good work at the corporate level:

  1. The Kirkland Lake Transaction in 2017 was transformative.
  2. The Sumitomo deal in June 2019 was equally transformative.

While Sumitomo entered into the agreement with an exclusive interest in Egina, Sumitomo’s close involvement has strategic value for Novo shareholders. This is further evidenced by the fact Mr Ishikawa himself sits on the board and knows the company inside out.

This great relationship could lead to future discussions regarding the funding of Karratha or Beaton’s Creek in the future. Because the relationship is already well established, this seems a clear potential pathway for Novo Resources to open up the potential of the region.

These are several compelling reasons why an investors might register an interest in Novo Resources. However, let’s get into the stuff the really matters. Let’s talk about…

Red Flags

A photo of 8 red flags in a diagonal line against a backdrop of mountains and a cloudy sky

Normal Rule Don’t Apply?

Claiming that the Novo mineralisation is so different to other deposits that normal rules do not apply.

This is something we picked up on during our interview with Dr. Hennigh. It’s definitely a concern.

Slow Resource Estimates Or None At All

The resource estimates at Beaton’s Creek have progressed very slowly. Additionally, there is a lack of a resource estimate for Comet Well/Purdy’s Reward at Karratha.

This is worrying because it creates a lot of uncertainty. Is Novo Resources really in control?

Novo’s Deposits: Unmeasurable?

The deposits that Novo Resources is working on are slow, technically difficult and expensive to evaluate because of the nugget effect. In addition, the independent consultant considers that there is NO GUARANTEE that a mineral resource estimate will ever be able to be generated for the Karratha Mineralisation. Just take that last sentence in again.

Management Failing To Deliver On Promises

Novo Resources has promised economic studies on Beaton’s Creek and has failed to deliver. Similarly, there is an absence of a PEA, PFS or an option study for the project, which Novo has also consistently promised to deliver.

If a management team consistently fails to deliver on their promises, it’s usually time to feel concerned.

A Lack Of Clarity

There is a lack of clarity on the permitting situation at Karratha. There is confusion regarding the law around large bulk samples needing a mining permit but mining permits not being granted without resource estimates.

Karratha is dependent on large bulk samples in order to validate the resource statement, so this is something of a chicken and the egg situation. So will they ever be able to produce a resource statement? Unlikely.

There is a similar lack of clarity exhibited in the environmental permitting situation at Egina, which will likely be required in order to strip mine. No word from the company.

Management Focus Issues

Dr. Hennigh holds multiple senior roles at a large number of different companies. Is he able to give Novo Resources his full attention at all times?

Worrying Corporate Developments

Novo Resources has demonstrated a lack of strategic focus after investing in a number of non-core assets, which undermines the integrity of the entire investment case for developing the Pilbara gold assets.

Poor Corporate Governance

There is a dominant chairman and president and only one truly independent NED. A far from ideal structure.

A Lack Of Transparency

Budgets, timelines and strategic plans are all hazy. These are the very elements that would underpin an investment case for Novo Resources.

A Lack Of Technical Data

Public discussions are occurring regarding the purchase of a mill and plans to start mining without technical data or a resource to support the development. Very peculiar.

Not So Simple

Gold companies should be simple and easy to understand. Everything about Novo Resources is overly complex and involves academic theorising about a new paradigm.

Marketing Materials

The investor presentations are all academic and complex: they are not laid out in a manner that assists investors making investment decisions. The news released are saturated with complex data and statistics, but the core language is poor, with a lack of information on economics of extraction, timelines to milestone, delivery of promises, budgets and investment strategy.

Does Novo Resources want to make things clear for investors, or does the superfluous language help mask deep-rooted issues in the very fibres of the company? Why does this feel more like a mining project than a mining company?

Conclusion

Novo Resources needs to present al of the building blocks of value within the asset base much more clearly. The company is poor at explaining how or why its actions will create value for shareholders.

Furthermore, Novo has struggled to deliver study report at Beaton’s Creek and a resource statement at Karratha, thereby failing to deliver on what it promised it would deliver.

When you combine all of these points, there are questions marks about the investment or exit strategy for Novo Resources as it bounces from one new project to the next, without actually completing anything. A lot of talk, a lot of distraction, not a lot of substance, yet.

In the short term, how can Novo improve things?

We’d like to see action on all of the red flags; they are all serious concerns. The crux of Novo’s issues is administrative: the corporate governance, management, and strategic focus. If these things are changed, the investment case and value proposition could become much more transparent and lucid.

In the short-term, Novo Resources could focus on an increased level of clarity surrounding budgets, timelines, studies, and permitting. This would certainly be a step in the right direction.

Company Website: https://www.novoresources.com/

If you see something in this article that you agree with, or even disagree with, please let us know in the comments below.

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux Investor communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.

The Novo Resources Corp. company logo

Calibre Mining (TSX: CXB) – An Exciting Gold Mining Story

The Calibre Mining Corporation company logo
Calibre Mining Corp.
  • TSX: CXB
  • Shares Outstanding: 328M
  • Share price C$1.44 (18.05.2020)
  • Market Cap: C$472M

Crux Investor recently carried out an interview with Ryan King, VP, Corporate Development of gold developer, Calibre Mining Corp. (TSX:CXB).

Gold is hot right now and gold investors across the land know it. We’ve heard plenty of gold stories in the last few months that have caught our imagination. However, the story of Calibre Mining is up there with the best of them, and gold investors need to pay attention.

Calibre Mining is a TSX-listed 10-year gold explorer that has recently turned producer. The team at Calibre Mining arrived from Newmarket Gold, acquiring 2 Nicaraguan assets from gold major, B2Gold: El Limon, and La Libertad. The company has just announced its Q1/20 results and they are strong, with solid grades and plenty of cash flow.

King talks us through the plans for 2020 and beyond. Calibre Mining’s assets aren;t necessarily that high a grade of gold, but the team is managing to process the gold resources in an intelligent, highly-economic fashion. This reminds us of Equinox Gold, another one of our favourite gold stories.

Have a watch for yourself and see if you appreciate the business model and value proposition. Let us know what you think below.

We Discuss:

  1. Company Overview
  2. Transition from Explorer to Producer: How and Why?
  3. Business Plan and Corporate Structures
  4. Telling it Right: Share Price and Interaction with the Market
  5. Value for Money: Can They Keep it Going?
  6. Impact of COVID-19 and Measures Taken
  7. Nicaragua as Mining Jurisdiction
  8. The Bigger Picture: Targetting and Monetising the Assets
  9. The End Goal for Calibre Mining
  10. Cash Position and Possibilities at Hand

Company Website: https://www.calibremining.com/

If you see something in this article that you agree with, or even disagree with, please let us know in the comments below.

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux Investor communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.

The Calibre Mining Corporation company logo

East Asia Minerals (TSX-V: EAS) – $600M to $3M…

The East Asia Minerals Corp. company logo
East Asia Minerals
  • TSX-V: EAS
  • Shares Outstanding: 101M
  • Share price C$0.05 (18.05.2020)
  • Market Cap: C$5M

Crux Investor recently interviewed Terry Filbert. He is the CEO of gold explorer, East Asia Minerals (TSX-V: EAS).

If you’re interested in East Asia Minerals, why not read an alternative gold article, or even watch one of our latest gold interviews?

East Asia Minerals is a TSX-listed gold and precious metals developer with two assets in Indonesia: Sangihe, and Miwah, the former flagship asset that gave East Asia Minerals a C$600M market cap. The market cap is C$3M today…

Filbert talks about the gold space, Indonesia as a jurisdiction, big mistakes and what East Asia Minerals can do to set things right. An interesting watch for gold investors.

We Discuss:

  1. Company Overview
  2. Mighty Have Fallen: Missteps That Cost $600M to Drop to $3M
  3. Indonesia as Jurisdiction
  4. The Team’s Background & Track Record
  5. Big-Name Supporters and Shareholders
  6. Business Plan: Getting into Production
  7. Sangihe Gold Project: What’s There and What Needs to Be Done to Monetise it?
  8. Miwah Gold Project: Plans for the Asset
  9. Funding it All: Who Will They Talk to?

Company Website: https://eastasiaminerals.com/

If you see something in this article that you agree with, or even disagree with, please let us know in the comments below.

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux Investor communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.

The East Asia Minerals Corp. company logo

Rockhaven Resources (TSX-V: RK) – High-Grade Gold Developers That Need To Market Themselves Better

The Rockhaven Resources Limited company logo
Rockhaven Resources Ltd
  • TSX-V: RK
  • Shares Outstanding: 188M
  • Share price C$0.11 (18.05.2020)
  • Market Cap: C$21M

Crux Investor recently interviewed Matthew Turner, who is the President & CEO of Rockhaven Resources Ltd. (TSX-V: RK).

If you’re interested in Rockhaven Resources, why not read an alternative gold article, or even watch one of our latest gold interviews?

Rockhaven Resources Ltd. is an “advanced stage” gold-silver exploration company. The main focus is on advancing its 100% owned and ‘road-accessible’ Klaza gold-silver project in Yukon, Canada.

Klaza looks like an excellent gold-silver project: a PEA released in 2016 revealed an economic project in a much lower US$1200/oz gold price environment.

The real issue appears to be marketing; Rockhaven Resources is not communicating the gold value proposition it is offering very effectively to gold investors and the generalist market. Let’s unpack this.

We discuss:

  1. Company Overview
  2. The Numbers: Total Raised, Cash Position, and Future Raises
  3. 10yrs Going: The Business Plan, Changes Made and Focus
  4. Team Experience
  5. Hidden Gem or One of Many: Timeline For Growth and Communicating to the Market
  6. Evading or Embracing the Curse of the Single Asset: Inserting Themselves into the Market
  7. Managements’ Shareholding

Company Website: https://www.rockhavenresources.com/

If you see something in this article that you agree with, or even disagree with, please let us know in the comments below.

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux Investor communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.

The Rockhaven Resources Limited company logo

RNC Minerals (TSX: RNX) – An Eliminated Royalty And An 11:1 Rollback: Exciting Times Ahead?

The RNC Minerals Company Logo.
RNC Minerals
  • TSX: RNX
  • Shares Outstanding: 608M
  • Share price C$0.50 (14.05.2020)
  • Market Cap: C$301M

Interview with Paul Huet, CEO of gold producer, RNC Minerals (TSX:RNX).

We’ve covered RNC Minerals with detailed investigative articles for much of the last year. Make sure you check them out.

It seems like we just got off the phone with Huet! The gold producer has been hitting it out of the park recently with good news after good news. This latest update could top the lot…

RNC Minerals has managed to ELIMINATE a royalty that has stood for decades and this could have a truly transformative impact on the company’s gold mining economics.

In addition, a share rollback could be just what gold investors have been waiting for, but why has it taken so long? Why not earlier? A crucial watch for gold investors.

We Discuss:

  1. Morgan Stanley Royalty: Timeline, Terms and Possibilities
  2. Share Consolidation Proposal: Reasoning and Shareholder Benefits
  3. What to Look Forward to Next?

CLICK HERE to watch the full interview.

Company Website: http://www.rncminerals.com/

If you see something in this article that you agree with, or even disagree with, please let us know in the comments below.

Any advice contained in this website is general advice only and has been prepared without considering your objectives, financial situations or needs. You should not rely on any advice and / or information contained in this website or via any digital Crux Investor communications. Before making any investment decision we recommend that you consider whether it is appropriate for your situation and seek appropriate financial, taxation and legal advice.

The RNC Minerals Company Logo.