reports
- Ben Pirie
DNG: Knocked it Out of the Park...Again
What you need to know: • DNG reported another record quarter, posting 20% YoY sales growth and 50% YoY EBITDA growth due to the increased gold price and record levels of ore processed. • Dynacor again improved its balance sheet, with $42M in cash (up from $35M last quarter) with negligible debt, while also repurchasing shares. • We remain bullish on DNG going into 2025 and beyond as its kicks off its plans for expansion in both Peru and West Africa. Yesterday after market close, Dynacor Group ...
EQS-News: Graphite One befürwortet Ansprache von Senatorin Lisa Murkow...
Emittent / Herausgeber: MIC Market Information & Content Publishing GmbH / Schlagwort(e): Expansion/Personalie Graphite One befürwortet Ansprache von Senatorin Lisa Murkowski, in der sie eine Prioritätensetzung für die Rohstoffpolitik fordert 13.11.2024 / 15:30 CET/CEST Für den Inhalt der Mitteilung ist der Emittent / Herausgeber verantwortlich. Graphite One Inc. (ISIN: CA38871F1027 ; WKN: A2PFXE), “Graphite One”, “G1” oder “das Unternehmen”, das in den USA eine komplette heimische Lieferkette für hochentwickelte Graphitmaterialien plant, freut sich, die Aussagen der Sena...
- Ben Pirie
LVG: Mining License Transfer + 10-Year Renewal
What you need to know: • LVG announced the completion of the 10-year renewal and authorization to transfer the Imwelo Mining Licence to LVG. • This major milestone significantly de-risks the Company as it progresses with development plans of the Imwelo Project and looks to take advantage of the elevated gold price in the near-term. • Upon certain conditions, this announcement triggers the second tranche of the financing involving Taifa Group (at a significant premium to market, $3.8M at $0.24/...
- Ben Pirie
Mining Monthly: October Edition
What you need to know: • Following strong performance in September, the precious metals again posted excellent returns, with gold being up 3.2% (to ATHs) and silver being up 4.1% (reaching its highest price in 12 years). • The mining equities had mixed performance relative to the metals with the GDX up 1.3%, GDXJ up 5.7%, SIL up 10.2%, and COPX down 7.6%. • Financings picked up massively in October as generalist capital returns to the mining industry, providing much-needed capital to the juni...
- Ben Pirie
OMG: More Assays, More Success + Gilt Creek Inclusion
What you need to know: • Omai announced its 2nd batch of assay results from the ongoing 10,000m drill program. 17 diamond drill holes have been completed totalling 8,460m and a third drill is being added to the program. • Assays from six holes were reported today, mostly continuing to target previously untested gap zones, yielding strong gold mineralization in the majority of holes. • We believe with three drill rigs and the sizeable budget (compared to the last few years), Omai should be abl...
- Ben Pirie
MOO: Metallurgical Analysis Supports By-Product Metals
What you need to know: • Moon River announced the initial results from analysis on the by-product metals in the Davidson deposit (tungsten, copper, REEs and gallium). • The results showed high potential recovery for tungsten and possibly copper, giving us confidence in the upcoming metallurgical results. • This is the first step in MOO’s goal of including these by-product metals in the mine plan, potentially improving the economics in the PEA. • Last month, we interviewed management, view the ...
- Ben Pirie
TM: High-Grade Underground Drilling Continues at Kombat
What you need to know: • TM announced several high-grade copper and silver intercepts near shaft 1 at its Kombat mine in Namibia. • The holes reported today lie close to existing workings and planned developments, allowing for easy integration into the mine plan. • The highlight hole was hole KWO-217 which intersected 11.21% Cu and 117.9 g/t Ag over 5m. • Last month, we interviewed management, watch it here. This morning, Trigon Metals Inc. (TM:TSXV) announced drill results from recent under...
- 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
TM: Underground Mining Outperforms – Open Pit Pauses
What you need to know: • TM announced a key production milestone, having mined 980tpd over a 30-day period, surpassing a threshold in the Sprott streaming agreement. • This news de-risks the project as Trigon is no longer required to convert the principal advance into a loan (more detail below). • As a result of the highly successful underground mining operations, the Company has decided to pause the open pit and only process high-grade underground ore. • Two weeks ago, we interviewed managemen...
- Ben Pirie
LVG: Exploration Update & Mining License Submission
What you need to know: • LVG announced an update on Barrick Gold’s exploration activities on the claims surrounding the Tembo Project, which LVG carries interest in. • On September 4th, the Company announced submission of all documentation for the 10-year renewal and transfer of the Imwelo Mining License. The acquisition should close by the end of September. • Once the Mining License is officially transferred, it will trigger the second tranche of investment from the TAIFA group ($3.8M). This ...
- Ben Pirie
OMG: High-Grade Assays Begin to Roll-In
What you need to know: • Omai announced the first batch of assay result from the ongoing 10,000m drill program. 10 diamond drill holes have been completed totalling 3,732m and a second drill came online in late August. • Assays from 7 holes were reported today, mostly in previously untested gap zones, yielding strong gold mineralization in the majority of holes. • It is important to note that if these gap zones are converted from waste to ore (added to the resource), the economics of an update...
- 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
TM: Positive Drill Results at New Zone Near Shaft #3
What you need to know: • Trigon announced high-grade drill results from the new zone near Shaft#3 of the Kombat Mine. • The results confirm strong copper results previously discovered in a 2023 surface drill program that lie outside the proven and probable reserves. • Today’s release is important as it shows strong resource growth potential in the area around Shaft #3 which would open up more mining faces, reducing operational risk and allowing for future production growth. Yesterday before ...
- Ben Pirie
TM: Q1 Financials: Positive OCF & EBITDA
What you need to know: • Trigon announced its Q1/25 financial results, reporting strong numbers with Q1 being the first full quarter of underground production. • TM more than doubled its revenues from the previous quarter ($10M vs. $3.9M) and reported its first positive operating cash flow since starting production. • The Company reported an improved adjusted EBITDA of $1.8M and a further decreasing C1 cash cost of $3.23/lb. Yesterday after market close, Trigon Metals Inc. (TM:TSXV) reported ...
- Ben Pirie
DNG: Q2 Financials - Margins Improve Further
What you need to know: • DNG continued to take advantage of the high gold price in Q2, beating revenue and profitability estimates, boosting its cash balance and reducing development risk as it enters its next phase of growth. • Dynacor posted record cash gross operating margin of $346/oz AuEq sold, compared to $234/oz in Q2/23 and our estimate of $233/oz. • DNG added to its strong balance sheet with $35M in cash (up from $28M in December 2023), $55M in working capital, and negligible debt. ...
- Ben Pirie
LVG: Mining License Renewal - Long Runway Ahead
What you need to know: • LVG announced the Imwelo Mining License has conditionally been approved for a 10-year renewal, providing runway for LVG to execute. • On July 18th, the Company announced the receipt of the Tax Clearance Certificate, the final requirement for transferring the Imwelo Mining Licence to LVG. • Once the Mining License is officially transferred, it will trigger the second tranche of investment from the TAIFA group. • We continue to value LVG at $0.45/share representing 137% u...
- Ben Pirie
Mining Monthly: July Edition
What you need to know: • July was the second consecutive negative month for all 17 metals in our coverage except for gold, however, mining equities largely outperformed. • As anticipated in our last Mining Monthly, the June sell-off marked a great buying opportunity in the metals equities. • We are excited by the continued outperformance in the mining sector compared to broader markets as we believe this will begin attracting generalist investors to the space. • We notice an interesting trend in...
- Ben Pirie
OMG: Exploration Update – Fully Funded Through 2025
What you need to know: • The Company provided an exploration update on the Omai Gold Project with development goals laid out in this release. • Since our last note, Omai raised $13M in a private placement which closed on June 20th and sets the Company up for the next two years of project development. • On July 2nd, Omai commenced a 10,000m drill program with the goal of expanding the overall mine plan (by way of resource growth) and began many of the baseline studies required for permitting and...
- Ben Pirie
TM: FY24 Financials Improve with Costs Decreasing
What you need to know: • Trigon announced its Q4/24 and FY24 financial results marking the completion of a transformational year for the Company. • With just a small amount of underground production included in the Q4 numbers, costs have already started to decrease with C1 cash costs coming in at $3.31/lb vs. $3.81 for the full fiscal year. • The failed pump has been replaced and most importantly, mining activities were not affected by the short dewatering issue. • The Safi-Silver spinout is ...
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