reports
- Ben Pirie
- Nicholas Cortellucci
- CFA
DNG: Strong Q1 Print; Stock offers Growth, Value, & Yield
What you need to know: • DNG reported Q1 financial results that were in line with our expectations on production and beat on financial metrics. • Q1 revenue was $80.0M compared to our estimate of $77.4M and Q1 OCF (before WC) was $5.8M compared to our estimate of $4.0M. • Management remains on track for its 2025 guidance, implying that production will ramp up through the remainder of the year. • We believe that the stock offers great value at these levels (3x EBITDA). Yesterday after market c...
- Ben Pirie
OMG: Drill Results Continue to Flow In; MRE in Q3
This morning, Omai Gold Mines Corp. (OMG:TSXV, OMGGF:OTC) announced assay results from the ongoing 2025 drill campaign at its 100% owned Omai Gold Project in Guyana. The Company reported results for three holes and one hole extension, totalling 2,607m, all in resource expansion areas. A total of 20 holes have been completed YTD, totalling 13,700m and the program is expected to surpass the already expanded 15,000m drill program. Assays are pending for 16 holes, and the updated resource is expecte...
- Ben Pirie
Mining Monthly: April Edition
What you need to know: • The metals and mining market showed a fourth straight month of strong gains in April on the back of the escalating trade tensions. • In April, gold was up 5.6%, silver was down 4.2%, and copper was down 9.6%. The equities outperformed the commodities, with the GDX up 6.5%, GDXJ up 7.3%, and SIL up 3.3%. • Financings remained largely elevated during April, highlighting the institutional capital that has flowed into the mining sector recently. • M&A started to pick up agai...
ARG. AMERIGO RESOURCES LTD.
EDG. ENDURANCE GOLD
SCZ. SANTACRUZ SILVER MINING
NIM NICOLA MINING INC
RTP. RIO TINTO PLC CEDEAR
GIGA GIGA METALS
TOC TOCVAN VENTURES
APM ANDEAN PRECIOUS METALS CORP
PNTZF TRIGON METALS INC.
OMG OMAI GOLD MINES CORP
DNG DYNACOR GROUP INC.
MOO MOON RIVER MOLY LTD
AUAU ALLEGIANT GOLD
FISH SAILFISH ROYALTY CORP.
CAPT CAPITAN SILVER CORP
KRI KOBO RESOURCES INC.
Glencore: 2 directors
Two Directors at Glencore bought 593,498 shares at between 233p and 233p. The significance rating of the trade was 67/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years...
- Ben Pirie
- Nicholas Cortellucci
- CFA
Q1/25 Recap: All Our Research in One Place!
Quarterly Coverage Update Q1/25 represented another excellent quarter for our firm, with strong performance from our coverage universe. This mainly came from our exposure to precious metals, notably silver. Our coverage universe was up 13% during the quarter and 40% over the last year, compared to the TSX, which was up 0.1% and 12%, respectively. The performance in Q1 was led by Santacruz Silver (+80%), Omai Gold Mines (+80%), and Tocvan Ventures (+67%). We also proudly hosted another Investor ...
DRX ADF GROUP INC.
ARG. AMERIGO RESOURCES LTD.
EDG. ENDURANCE GOLD
SCZ. SANTACRUZ SILVER MINING
NIM NICOLA MINING INC
RIO RIO TINTO PLC
KNR. KONTROL ENERGY CORP
GIGA GIGA METALS
TOC TOCVAN VENTURES
APM ANDEAN PRECIOUS METALS CORP
PNTZF TRIGON METALS INC.
OMG OMAI GOLD MINES CORP
BQE BQE WATER INC.
DNG DYNACOR GROUP INC.
MOO MOON RIVER MOLY LTD
AUAU ALLEGIANT GOLD
FISH SAILFISH ROYALTY CORP.
CAPT CAPITAN SILVER CORP
SBIO SABIO HOLDINGS
INC. (SBIO)
- Ben Pirie
Mining Monthly: March Edition
What you need to know: • The metals and mining market showed a third straight month of strong gains in March as investors moved into safe haven assets to protect from trade tensions and economic uncertainty. • In March, gold was up 3.4%, silver was up 0.8%, and copper was up 6.1%. The equities largely outperformed compared to the commodities, with the GDX up 15.7%, GDXJ up 17.6%, and SIL up 13.6%. • The Trump administration announced an executive order to increase American mineral production acr...
ARG. AMERIGO RESOURCES LTD.
EDG. ENDURANCE GOLD
SCZ. SANTACRUZ SILVER MINING
NIM NICOLA MINING INC
RIO RIO TINTO PLC
GIGA GIGA METALS
TOC TOCVAN VENTURES
APM ANDEAN PRECIOUS METALS CORP
PNTZF TRIGON METALS INC.
OMG OMAI GOLD MINES CORP
DNG DYNACOR GROUP INC.
MOO MOON RIVER MOLY LTD
AUAU ALLEGIANT GOLD
FISH SAILFISH ROYALTY CORP.
CAPT CAPITAN SILVER CORP
- Ben Pirie
OMG: More Positive Drill Results & Expanded Drill Program
What you need to know: • Omai announced assay results from four drill holes totalling 2,157m, two drilled at Wenot and two drilled at the Camp Zone, ~1km west of Wenot. • The highlight hole, drilled beneath the Wenot resource pit, intersected 16.35 g/t Au over 10.5m, including 46.38 g/t Au over 3.5m. • Results are pending for 10 holes at Wenot (Figure 1) as part of the 10,000m 2025 drill program, which has now been expanded to 15,000m. • An updated mineral resource is planned to be released in...
- Ben Pirie
- Nicholas Cortellucci
- CFA
DNG: Closing Off a Record Year; Set Up for Growth Acceleration
What you need to know: • DNG reported Q4 financial results that were mixed relative to our expectations due to lower grades and annual maintenance at its plant. • Q4 revenue was $73.1M compared to our estimate of $60.0M and Q4 OCF (before WC) was $2.8M compared to our estimate of $4.3M. • DNG solidified another great year, supporting its long-term growth CAGRs of ~10%. We believe DNG is entering a period of accelerated growth and the current valuation does not reflect that. Yesterday after mar...
- Ben Pirie
EDG: Lays out 2025 Exploration Plans; Work Commencing in May
What you need to know: • EDG announced plans for its 2025 exploration campaign which includes up to 7,000 of diamond drilling, amongst several other key initiatives. • Work is expected to commence in early May, well ahead of its peers. • The Company also announced the discovery of a new 500m long soil anomaly ~700m south of the Eagle Zone within the drill permit area. • EDG has successfully been upgraded from the OTC Pink Market to the OTCQB where it will trade under the symbol “ENDGF”. Thi...
iolite convoque une assemblée extraordinaire de Dynacor Group Inc. - D...
FREIENBACH, Suisse--(BUSINESS WIRE)-- iolite Capital Management AG, un gestionnaire d’investissement basé en Suisse (« iolite »), en tant que représentant d'iolite Partners Ltd., détenteur d’au moins 10 % des actions avec droit de vote émises et en circulation de Dynacor Group Inc. (TSX : DNG, la « Société »), a demandé au conseil d’administration actuel de la Société (le « Conseil ») de convoquer une assemblée extraordinaire des actionnaires de la Société. Comme le Conseil actuel n'a pas convoqué l'assemblée comme demandé, iolite a convoqué l'assemblée dans le meilleur intérêt des actionnair...
iolite Called Special Meeting of Dynacor Group Inc. - Record Date
FREIENBACH, Switzerland--(BUSINESS WIRE)-- iolite Capital Management AG, a Switzerland-based investment manager (“iolite”), as representative of iolite Partners Ltd., the holder of not less than 10% of the issued and outstanding voting shares of Dynacor Group Inc. (TSX: DNG, the “Company”), requested the current board of directors of the Company (the “Board”) to call a special meeting of the shareholders of the Company. As the existing Board failed to call the meeting as requested, iolite has called the meeting in the best interests of the shareholders of the Company. The special meeting of t...
- Ben Pirie
OMG: Continues to Hit Strong Mineralization at Wenot
What you need to know: • Omai announced assay results from the final three drill holes as part of its 26-hole 13,716m 2024 drill campaign. • All three holes intersected strong mineralization with the highlight being 5.21 g/t Au over 19.3m, including two higher-grade sections. • Results are pending for an additional 8 holes at Wenot drilled this year as part of the 10,000m 2025 drill program. • An updated mineral resource is planned to be released in Q2/25 with an updated PEA targeted to be an...
- Ben Pirie
Mining Monthly: February Edition
What you need to know: • After January’s strong gains in the metals and mining markets, February saw further growth across spot prices with the equities lagging due to cautious investor sentiment. • In February, gold hit all-time highs up 3.4%, silver was up 0.8%, and copper up 6.1%. The equities underperformed compared to the metals, with the GDX up 1.9%, GDXJ up 0.5%, and SIL up 0.3%. • British Columbia has launched a fast-track plan for 18 projects worth ~$20B, aiming to accelerate economic ...
ARG. AMERIGO RESOURCES LTD.
EDG. ENDURANCE GOLD
SCZ. SANTACRUZ SILVER MINING
NIM NICOLA MINING INC
GIGA GIGA METALS
TOC TOCVAN VENTURES
PNTZF TRIGON METALS INC.
OMG OMAI GOLD MINES CORP
DNG DYNACOR GROUP INC.
MOO MOON RIVER MOLY LTD
AUAU ALLEGIANT GOLD
FISH SAILFISH ROYALTY CORP.
CAPT CAPITAN SILVER CORP
- Ben Pirie
- Nicholas Cortellucci
- CFA
DNG: Strong 2025 Guidance & Fast-Tracked Growth Plans
What you need to know: • DNG reported its 2025 guidance which includes revenue of $345-375M (+27% on realized sales) and net income of $14-17M. • Dynacor has received EIA approval to begin construction of a 50,000tpd pilot plant in Senegal and plans to be finished construction by Q1/26. • DNG plans $1B in sales by 2030, representing a ~3x from 2024E sales. • We remain bullish on DNG going into 2025 and beyond as its kicks off its plans for expansion in both Latin America and West Africa. This ...
- Ben Pirie
OMG: Hits Massive Intercept at Gilt Creek in First Hole Since 2007
What you need to know: • Omai announced assay results from its first drill hole at the Gilt Creek deposit since 2007. • The hole intersected a staggering 1.0 g/t Au over 774m. • An updated mineral resource is planned to be released in Q2/25 with an updated PEA targeted to be announced in Q3/25. • In our last research note, we updated our NPV assumptions by including the Gilt Creek deposit as it will be included in the upcoming PEA. This resulted in us increasing our target price on Omai to $0.8...
- Ben Pirie
EDG: Reports Antimony Assay Composites within Past Results
What you need to know: • EDG re-assayed a total of 199 gold assay composites to include antimony. Antimony intercepts were reported up to 19.20% Sb. • Antimony prices have been surging, up over 250% in 2024 and recently, domestic supply concerns have arisen amongst China banning exports. • The 199 re-calculated assays across 108 DDH, 84 RC, and 24 roadcut channel samples resulted in a composite average sampled length of 10.1m and a weighted average grade of 4.55 g/t Au and 0.20% Sb, boosting th...
Arizona Sonoran Announces Royal Gold’s Purchase of Existing NSR on the...
CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging U.S. copper developer, is pleased to report that RG Royalties LLC, a subsidiary of Royal Gold Inc. (RLGD:NASDAQ) has purchased an existing 2.5% net smelter royalty (“NSR”) on a portion of the Cactus Project for cash consideration of US$55 million from Tembo Capital. ASCU has the right to buy back 0.5% of Royal Gold’s aggregate 2.5% NSR for US$7 million, by July 10, 2025. George Ogilvie, ASCU President, CEO and Director commented, “We are pleased ...
- Ben Pirie
OMG: Increasing Target Price Based on Inclusion of Gilt Creek
What you need to know: • Omai announced another batch of assay results, reporting six holes within its 13,716m 26-hole 2024 diamond drill program. • The two holes reported highlight intercepts of 4.48 g/t Au over 57.0m including 21.13 g/t Au over 10.0m and 1.10 g/t Au over 63.2m. • An updated mineral resource is planned to be released in Q2/25 with an updated PEA targeted to be announced in Q3/25. • As mentioned, the Gilt Creek deposit will be included in the PEA, as such, we have updated our ...
Arizona Sonoran Provides 2024 Recap and 2025 Work Plan
CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”), an emerging U.S. copper developer, is pleased to highlight the significant progress made at the Cactus Project in 2024, and outline its fully-funded strategic goals for 2025. ASCU is committed to advancing its brownfield Cactus Project through technical studies, building upon the positive updated 2024 Preliminary Economic Assessment (“2024 PEA”) issued this past August. The 2024 PEA highlighted a compelling 31-year open pit, heap leach and solvent extraction a...
Arizona Sonoran Adopts Shareholder Rights Plan
CASA GRANDE, Ariz. & TORONTO--(BUSINESS WIRE)-- Arizona Sonoran Copper Company Inc. (TSX:ASCU | OTCQX:ASCUF) (“ASCU” or the “Company”) announces that it has adopted a shareholder rights plan (the "Rights Plan") effective as of January 31, 2025, pursuant to a shareholder rights plan agreement entered into with TSX Trust Company, as rights agent. The Rights Plan is designed to ensure that all ASCU shareholders are treated fairly in connection with any take-over bid and to protect against "creeping bids", which involve the accumulation of more than 20%, on an aggregate basis, of the Company’s i...
Unfortunately, this report is not available for the investor type or country you selected.
Report is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.