reports
- Ben Pirie
- Nicholas Cortellucci
- CFA
Q3/24 Recap: All Our Research in One Place!
Quarterly Coverage Update As we enter the final quarter of the year, we are excited to release our quarterly recap report to update our readers on all the research content we have published in the last three months. This quarter included substantial momentum across several sectors, with strong performance from the companies we cover. Omai Gold Mines (+55%) led the way, followed by Allegiant Gold (+27%), Moon River Moly (+11%), and BQE Water (+10%). This quarter has been our most active yet, ma...
- Ben Pirie
Mining Monthly: September Edition
What you need to know: • September was a big month for the metals space as gold, silver, and copper were all up over 6%. Gold broke to new all-time-highs, peaking at $2,685/oz before closing the month at $2,661/oz (up 46% LTM). • The mining equities lagged the metals slightly but greatly outperformed broader markets with the GDX, GDXJ, SIL, and COPX up 4.8%, 8.2%, 7.9% and 11.0%, respectively. • Battery metals performed well this month and news around the lithium market gets more interesting a...
- Ben Pirie
EDG: First 2024 Drill Results: All Holes Intercept High-Grade
What you need to know: • EDG announced assay results for its first six drill holes as part of its 10,000m 2024 drill program, it has completed 11 holes (3,500m) to date. • Today’s results confirm high-grade at-depth (~175m vertical) and extends the Imperial Zone ~100m to the northwest along strike (still open). • Assays for the next five drill holes are expected to be released in mid-October. We look forward to this batch as they are drilled in the undrilled gap between the Eagle and Imperial Zo...
Endurance Announces First 2024 Drill Results At The Reliance Gold Proj...
Vancouver, British Columbia--(Newsfile Corp. - September 17, 2024) - Endurance Gold Corporation (TSXV: EDG) (OTC Pink: ENDGF) (FSE: 3EG) (the "Company") is pleased to announce preliminary assay results from the first six (6) diamond drill holes completed in the Imperial and Diplomat Zones at its Reliance Gold Project. The planned 2024 drilling program consists of up to 10,000 metres ("m") of diamond drilling designed to expand the gold zones discovered within the 2-km long Royal Shear structure. To date, eleven (11) drill holes have been completed for over 3,500 m.Highlight assay results fro...
- Ben Pirie
Mining Monthly: August Edition
What you need to know: • August was a mixed month for all metals, including the mining equities. • Gold continues to outperform other metals, up 2.3% on the month and up a staggering 29% over the last year. Mining equities performed in line with broader markets, following significant outperformance in July, read our July report here. • Battery metals suffered again this month, and the waiting game continues. • M&A was slow in August but we expect things to ramp up as we enter the fall given the...
- Ben Pirie
EDG: Five Drill Holes Completed – Assays Pending
• EDG announced it has completed its first five diamond drill holes totalling 1,854m, as part of its 10,000m 2024 diamond drill program. • Assays are expected to start rolling in late August or early September. • Additional work is ongoing throughout the property to set up drill targets at the undrilled Olympic area and new targets at Upper Eagle. • EDG closed a $4.0M private placement with Director Richard Gilliam filling the entire order. CEO Robert Boyd continues to buy on the open market. ...
- Ben Pirie
- Nicholas Cortellucci
- CFA
Q2/24 Recap: All Our Research in One Place!
As we conclude Q2/24, we are excited to release our inaugural quarterly recap report to update our readers on all the research content we have published in the last three months. This period has been marked by dynamic performance across various sectors, with notable highlights in the companies we cover. The best performers from our coverage universe include, ADF Group (+74%), Trigon Metals (+39%), BQE Water (+29%), and Dynacor Group (+12%). The overall coverage demonstrated significant resilie...
- Ben Pirie
Mining Monthly: April Edition
What you need to know: • Following a big breakout in March, gold pressed on hitting new all-time highs, however, lost steam and fell towards the end of the month up just 2% in April. Silver outperformed gold, being up 5% on the month. • Copper held its big gains from early in the month, up 13% to $4.6/lb. However, copper equities lagged, being up only 8%. • We continue to see substantial M&A activity in the sector and have consolidated some transactions as of late in Figure 1. We view M&A as a...
- Ben Pirie
EDG: 2024 Exploration Plans; Work Commencing in May
What you need to know: • EDG announced its 2024 exploration program at the Reliance Gold Project. • Plans include up to 10,000m of diamond drilling, Geochemical sampling, and geotechnical, structural, mineralogical and metallurgical studies, as well as other initiatives. • Work is expected to commence in early May, well ahead of Golden Triangle peers. • We view the pullback in EDG stock as a buying opportunity. On April 8th, Endurance Gold Corp. (EDG:TSXV) announced plans to commence 2024 exp...
- Ben Pirie
EDG: Successful Initial Work on the Olympic Claims
What you need to know: • EDG reported prospective soil sample results from the Olympic Claims of its Reliance Gold Project. • The Company collected 19 rock grab samples of which five assayed greater than 5.5 g/t Au with the best results including 25.1 g/t Au and 22.3 g/t Au. • This release highlights to investors the significant exploration upside beyond the Royal Shear. This morning, Endurance Gold Corp. (EDG:TSXV) announced positive results from its prospecting and soil sampling surveys per...
- Ben Pirie
Mining Monthly: January Edition
What you need to know: • Gold held flat in January following a big monthly gain of 13% and reaching all-time highs in December, while mining equities lagged. • Besides gold, other precious metals, commodities, and battery metals had a mixed month, while uranium’s strong performance accelerated, up 16% in January and hitting its highest price in more than 16 years. • We attended a busy Vancouver Resource Investment Conference in January. Find our top picks from the conference here. Following a...
- Ben Pirie
EDG: Final Drill Results of 2023 Reaffirm Investment Thesis
What you need to know: • EDG reported assay results for the last seven diamond drill holes of the 2023 drill campaign from the Eagle and Crown Zones. • The highlight intercept was 5.80 g/t Au over 23.0m for 133.4 g x m. • The 2023 drill program has concluded with 5,301m completed across 22 drill holes. • Compiling the 2023 drill data, we have updated our internally generated resource estimate to 901 Koz at 5.10 g/t Au. This morning, Endurance Gold Corp. (EDG:TSXV) announced the final set of ...
- Ben Pirie
Mining Monthly: December Edition
What you need to know: • Gold continued to rise in December, gaining 1.3% on the month and closed out 2023 up 13% to $2,062/oz. Notably, gold hit an all-time high, reaching $2,135/oz, rising above the previous record of $2,072 in August 2020. • Besides gold, other precious metals and commodities had a mixed month, while battery metals continued to underperform. • The mining equities slightly underperformed broader markets as capital flowed into the TSX & S&P500 on the back of a more defined Fe...
- Ben Pirie
EDG: New Drill Results Widen Imperial Zone
What you need to know: • EDG reported assay results for two diamond drill holes at the Imperial Zone, intersecting wider than expected mineralized zones. • Highlight intercepts include 7.93 g/t Au over 7.4m and 3.61 g/t Au over 16.0m. • The 2023 drill program has concluded with 5,301m completed across 22 drill holes, assays remain outstanding for 7 holes. • Find our recently published management interview here. This morning, Endurance Gold Corp. (EDG:TSXV) announced assay results for two dri...
- Ben Pirie
Mining Monthly: November Edition
What you need to know: • Precious metal prices were up modestly in November, following strong performance in October. The mining equities outperformed the metals and broader markets as capital seems to have finally started to flow back into the sector. Other commodities also had a solid month. • Gold closed the month above $2,000/oz for the first time in its history. • The lithium price continues to struggle in the wake of a slowing in the adoption rate of electric vehicles amid high interest ...
- Ben Pirie
Mining Monthly: September Edition
What you need to know: • The precious metals markets were down in September, alongside a pullback across broader markets. Commodities and battery metals held in relatively flat. • The price of uranium has surged over the last month. We revisit our bullish view on the uranium market from our thematic research note. • Deteriorating economic data leads us to believe we are approaching a long-awaited pivot after both the BoC and the Fed held rates in September. Sentiment Update Commodity prices ...
BTO B2GOLD CORP.
EDG. ENDURANCE GOLD
FVI. FORTUNA SILVER MINES INC.
LUG LUNDIN GOLD
MOZ MARATHON GOLD CORP.
RGD REUNION GOLD CORP.
KNT K92 MINING
EQX EQUINOX GOLD
VIT VICTORIA GOLD CORPORATION
NUAG NEW PACIFIC METALS
FOM CN FORAN MINING CORP. (FOM)
FVI TRIGON METALS INC.
PNTZF ENDURANCE GOLD CORPORATION
ENDG.F SKEENA RESOURCES LIMITED
3EG ALDEBARAN RESOURCES (ALDE)
SKE E3 LITHIUM LTD. (ETL)
- Ben Pirie
Mining Monthly: August Edition
What you need to know: • The precious metals markets held flat in August, following the solid performance in July; mining equities fell modestly. • M&A continued to be light in August, we believe this is primarily due to the lack of clarity regarding the direction of interest rates. • Safe-haven assets like gold and silver continue to look highly attractive with mining equities trading close to trough multiples, creating buying opportunities for when investment dollars flow back into the sector...
AGI. ALAMOS GOLD INC.
DPM. DUNDEE PRECIOUS METALS
DSLV E.S.I. ENVIRONMENTAL SENSORS INC.
EDG. ENDURANCE GOLD
FVI. FORTUNA SILVER MINES INC.
LUG LUNDIN GOLD
LUN LUNDIN MINING CORPORATION
MOZ MARATHON GOLD CORP.
NGQ NGEX RESOURCES INC
ESM.. EURO SUN MINING INC
AGI 1933 INDUSTRIES
TGIF IMPERIAL METALS CORP
III NGEX MINERALS
NGEX NGEX RESOURCES INC.
NGQ:CN ORLA MINING LTD.
OLA 1LIFE HEALTHCARE
ONEM ARTEMIS GOLD
ARTG KARORA RESOURCES INC
FVI AURA MINERALS - AURA33 BZ
KRR E2GOLD INC
AURA33 BZ TRIGON METALS INC.
ETU OMAI GOLD MINES CORP
- Ben Pirie
EDG: Eagle Zone Extended a Further 125m
• EDG reported assay results for three drill holes, two at the Eagle Zone and one at the previously undrilled Crown target. • Over 4,000m of the 15,000m 2023 program has been completed to-date, totalling 14 holes (results pending on two of these holes). • Drilling remains paused due to a forest fire near EDG’s drill site; however, the evacuation order may be lifted soon. • Find our recently published management interview here. This morning, Endurance Gold Corporation (EDG:TSXV) announced assay ...
- Ben Pirie
EDG: Eagle Zone Reports High-Grade Gold at Depth
What you need to know: • EDG reported assay results for four drill holes at the Eagle Zone, intersecting high-grade mineralization to a downhole depth of 284m, extending the down-dip plunge by ~180m. • 4,000m of the 15,000m 2023 program have been completed to-date, totalling 14 holes (results pending on four of these holes). • Drilling has paused due to a forest fire near EDG’s drill crew housing. This morning, Endurance Gold Corporation (EDG:TSXV) provided an update on the ongoing exploration ...
- Ben Pirie
Mining Monthly: July Edition
What you need to know: • The precious metals markets rebounded well in July following a healthy consolidation period in May and June. • M&A continued to be light in July, primarily due to the new uncertainty regarding interest rates following strong economic data and the BoC and the Fed raising rates. • Safe-haven assets like gold and silver continue to look highly attractive with mining equities trading close to trough multiples, creating buying opportunities for when investment dollars flow ba...
EDG. ENDURANCE GOLD
OR OSISKO GOLD ROYALTIES LTD
TXG 10X GENOMICS INC CLASS A
PRB PROBE METALS INC.
STGO STEPPE GOLD LTD.
ARTG ARTEMIS GOLD
ETU TOREX GOLD RESOURCES INC. (TXG)
PNTZF E2GOLD INC
OMG TRIGON METALS INC.
ENDG.F OMAI GOLD MINES CORP
3EG ENDURANCE GOLD CORPORATION
FIL FILO CORP
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