Sunday, 21 September 2014

Retreating Discovery Rates and Exploration Expenditures - David Cox - SNL - At Denver Gold Show

Presentation at Denver gold Forum (select Tuesday)   PDF Document ..... more notes below

Richard Schodde - Minex Consulting - Junior Exploration Reports

New presentations from Richard Schodde at Minex Consulting reviewing junior discovery performances. Well worth a full read, a few highlights below.

Optimisation of Mining NPV - Whittle Consulting at Denver Gold Show

The gold mining industry has come through a period of rising prices, until 2011, where the focus has been to identify the greatest ounces in the ground resources and see leverage to the gold price by developing marginal projects. Production ounces, resource ounces and growth prospects were highly valued by the market. Much work has gone into taking old uneconomic deposits and redeveloping them as they appear to work at higher prices.
As Rick Rule recently discussed this has left a marginal industry.......more ......

Frank Giustra Liking Development stage Miners

Interview at CEO

Scotland's Referendum Results

Results by region and wealth indicators ( below - click to enlarge)

Thursday, 18 September 2014

Martin Armstrong Interview

Armstrong blogs prolifically offering cycles and inter-market perspectives.
Long Interview and discussion of markets including the US Dollar and Gold

Armstrong has targets below $1000 for gold as capital flows continue to US$ assets.
New precious metals report is due to identify timing and more.
The miners and the juniors often move ahead of the metal, but gold below $1000 would likely kill much of the sector.

Junior Gold M&A - Mariana Resources bid for Aegean Metals

Very junior bid from S.American explorer Mariana for Aegean focussed on the Tethyan belt in Turkey near Alamos and Pilot Gold.
Smallcap £11m London Aim listed Mariana was recently able to raise up to $6m from New York based Bergen Global Opportunity fund.
Anglogold have an 11% holding in Mariana while Teck are backing into 51% of Aegean's Ergama project in Turkey and a Turkish producer Lidya Mining (Alacer partner in Turkey) earning into a second project Hot Maden.    (Lidya Mining)

Brent Cook & Rick Rule Keynote at Precious Metals Summit

Webcast  1 Hour    ....... notes below .......

Saturday, 13 September 2014

Gold M&A - Fresnillo Buyout Newmont's Penmont Stake in Mexico

Fresnillo will move closer towards being a balanced Silver and Gold producer with their $450m buyout of Newmont from their Penmont business in Mexico.
Once its gets full control of the joint venture Fresnillo will have an annualised production capacity of around 600,000-620,000 ounces of gold before ramping up to 750,000 ounces by 2018. The latter target could be raised further once the board approves development of the Mega Centauro and Centauro Deep projects, a spokesman said. Fresnillo operates three other mines in Mexico and expects to produce 43 million ounces of silver this year. Fresnillo is considering hedging part of the extra gold production it will get through the acquisition.

The End of the Iron Age - Goldman Sachs

Goldman has a well reported note out on Iron ore where prices have been tumbling.
Rio Tinto and BHP are aggressively expanding capacity while demand has cooled. The steep cost

OT - Ramsbottom Bury Black Pudding Throwing World Championships

The second Sunday in September, of course, sees Ramsbottom, Lancashire, (currently still part of the United Kingdom) host the Black Pudding Throwing World Championships.

Thursday, 11 September 2014

Denver Gold and Precious Metal Summit Companies Watchlist 2014

Stock watchlists for all the exhibitors at the Denver Gold Show and Precious Metals Summit are below the break.
Flagged D / P / D+P for shows attended.
Scrolling to the right should show performance fixed against base 10th September 2014

Tuesday, 9 September 2014

Global Gold Development Projects - IRR vs Cash Costs

Comparison of non-fully financed gold projects owned by non-cash flowing companies, from Red Eagle presentation basis National Bank Financial.
IRRs are recalculated to a common $1300 gold price. Clearly cash cost estimates will be dependent on levels of accuracy / conservatism in economic studies with differing levels of confidence through scoping to feasibility.
List of projects and study levels, including most of those below and others, HERE on the blog

Denver Gold Show & Precious Metals Summit

Two of the biggest precious metals conferences are in Colarado, over the next two weeks, this week at the Precious Metal Summit and next week at the more institutional Denver Gold Show.
Company attendances look high - see companies links below.
Webcasts will be available following the conferences. many companies have their presentations up on websites before the conferences.

Denver Gold Companies

Precious Metals Summit Companies

Monday, 8 September 2014

Junior Gold M&A - Agnico Eagle bid for Cayden Resources

Having recently teamed up with Yamana to buy out producer Osisko, Agnico are bidding for relatively early stage explorer Cayden Resources for $205m (approx $3.79/share - not on chart below).
Cayden's stock has been well supported for some time following high grade, near surface, discoveries at El Barqueno in Jaliso, Mexico, but the buyout is well ahead of defined mineral reserves and economic studies.
Management are large holders and support the bid so presumably have taken a view that this is not the environment to seek to add further value above $200m through continued financing for exploration success.
Morelos Sur in Guerrero is proximate to an increasingly active area with Goldcorp's Los Filos mine and developments, Torex's large advanced projects and Osisko Royalties large exploration package.

Peter Brandt - Factor Update 7th Sept 14

Full Trading Report - noting Gold and Silver risks and many other markets.

Saturday, 6 September 2014

Bank of America / Merrill Lynch - 20th Annual Canada Mining Conference 2014 - & Gold Cost Curves / Breakdowns

Major mining conference in Toronto last week.

Register once to watch - not found a list of all presenters ?
- no doubt many more companies linking presentations and webcasts from their websites.

Gold Industry AISC - All in Sustaining Cost Curves - From Goldcorp's presentation...

Goldcorp's Cost breakdowns by region
Presumably the big differences in labour, fuel and power costs relate to open pit and underground operations aswell as pay rates in Canada vs Mexico

International Copper Study Group - World Copper Factbook 2013

World Copper Factbook 2013

Home & Monthly Updates
(Sell forecast mines and supply capacity data)

Many "large low grade" gold deposits come with considerable copper. Seabridge's KSM deposit for example has seen recent exploration highlighting more copper than gold. Potentially major base metals miners and PM streamers become involved in these projects as for example Thompson Creek and Royal Gold at Mt Milligan.

John Kaiser reviews various issues including Copper project pipeline and cost curve

Thursday, 4 September 2014

Africa Down Under Conference - Sept 2014

The African continent is endowed with enormous mineral wealth but many countries continue to be seen as high risk regimes. During the last run for gold mining stocks, into 2011, many Aussie companies targeted West Africa and have now collapsed from bubble valuations while quality deposits were discovered and developed.
B2 Gold has made 2 recent African acquisitions, Volta in Burkina Faso and Papillon in Mali.
Africa Down Under Conference
Recent discussion of African Mining and discovery potential with Sprott's Chief Geologist, Andy Jackson

Tuesday, 2 September 2014

Junior Gold M&A - Atlantic Gold acquires Acadian from Liongold

Spur Ventures had a phosphate project in China and sat on cash and short term investments over $20m for the past 5 years as their project didn't progress.
Clearly cash is a rarity on junior balance sheets so Spur recently merged with Aussie listed Atlantic Gold who in turn have very slowly progressed a gold project in Nova Scotia. Today Atlantic announced a further acquisition of neighbouring properties, buying Acadian Mining from Singapore listed Liongold who in turn only purchased in October 2013 just after suffering a huge flash-crash in their stock from $1.56 to  20c, now trading at 6c.  Atlantic's presentation declares further acquisitive intent.