Project Generators

While some gold junior explorers receive investments from one "Major" Gold company others have established themselves under a "Project Generator" model.

We have to decide what differentiates the genuine prospect generators from companies which just have a large portfolio of projects. Success in establishing joint ventures would seem to mark out the true prospect generators.

This allows the prospect generator company to leverage geological and exploration expertise over many projects but avoid continual stock dilution as more exploration expenditure is incurred. The joint venture funds most of the exploration and "earns in" to the project.

The downside is that the full interest in a successful project may be lost but there are many examples below of companies taking on the full project in some circumstances, perhaps when they think that they have found something special.
The projects are probably for sale at the right price and will be developed until that can be achieved and then the team may move onto other projects held by the company creating a spin off hoping to repeat the same success from exploration. Recent examples have been Auex selling out to Fronteer creating Renaissance as the spin out and Fronteer then selling the project on to Newmont with Pilot Gold as the spin out. International Tower Hill is still a stand alone developer but many of its other exploration properties were put into the Corvus spin out. See the page Good People - Good Projects about the people involved in these successes.

Global Mining Observer Article
An April 2012 summary of the prospect generator rationale by Brent Cook.
A good if dated article on prospect generators -
And one here on Lara exploration website by Brent Cook. Again dated, especially market caps etc. Some big bounces from that article in April 2009 which shows the quality and success of these companies.
And here by Brent Cook from Paul Van Eeden - from 2009 reviewing companies which went on to do very well.
Another Blog on Prospect Generators
A Brien Lundin Goldnewsletter interview with 5 Prospect Generators October 2013
Ex Sprott Broker Luke Smith's Blog - Prosperous Adventure and Youtube Channel

  • Strategic Metals (SMD.v)  Part project generator, investment fund, and exploration company. Yukon exploration, part of Archer Cathero group, significant  holdings in a number of companies which have taken on projects  from the group. Rick Rule was an insider at one time though I am not sure that SEDI shows the Rule Family Trust as active any more. This used to be a great way to follow Rick Rule's investments but since his investment company, Global Resource Investments merged with Sprott Asset Management he appears to have sold off insider positions. Perhaps the trips gallery hints at what they're looking at...?
  • Kiska (KSK.v) (ex Rimfire + Geoinformatics merger) - a number of members moved onto Evrim.
  • Kaminak (KAM.v) - Now focussed on Yukon property in the White Gold region. But still holding other projects ?
  • Mirasol - (MRZ.v) - Sold key Argentina project to Couer D'Alene, holding high cash and stock tofocus on Chile. Commonly discussed by Brent Cook of  Exploration Insights. (see stockchase link)
  • Miranda - (MAD.v) - Ken Cunningham. Well respected by Brent Cook & others. Paul Van Eeden became involved as a director here. Recent statement of projects being worked on Jan 2012
  • Evrim Resources - (EVM.v) - Paul Van Eeden again involved here. Less well known company.                     .                             Mexico JV with Newmont.
    • Website
    • Presentation
    • Management own 28% - tight structure.
    • 8 Mexican projects and database from Rimfire for 2m share to Rimfire. Inmet/Vale/Newmont JVs
  • Altius Minerals - (ALS.TO)
    • Website
    • Presentation
    • Presenting as Royalty and financing company aswell as project generator
    • Holding high cash and marketable securities, especially in Alderon
  • Almaden - (AMM.TO)
  • Riverside (RRI.v) - John Mark Staude well respected Geologist. Brent Cook likes. Jay Taylor. Others. Presentation here Jan 2012. 6.5% Rule Family Trust. Multiple Mexico projects being drilled. Cliffs & Antofagasta JVs. x5 projects drilled next 12 months. Buck Morrow also advisor to the board. $9.5m cash April 2012
  • Lara (LRA.v)
    • Often discussed by Brent Cook. CEO Miles Thompson. Recent discovery by JV Codelco at Liberdade. Large range of projects
    • Website
    • Presentation
  • Millrock (MRO.v)
  • Eurasian Minerals (EMX.v) - Just listed on NYSE. Jeff Neilson at BullionBullsCanada Favourite. Nov-11 Presentation. 148 properties. 71 Joint ventured. Newmont JV Haiti. Austalia, Turkey.
  • Aurion Resources (AU.v) - Presentation describe themselves as a prospect generator - was a Jim Dines pick according to the presentation. Rick Rule was an insider pre-Sprott merger. 2016 Very active in Finland with partners including B2 Gold.
  • Renaissance Gold (REN.TO) -  (Ex Auex Ventures post acquisition of Nevada Long Canyon by Fronteer Gold then sold on to Newmont
  • Avrupa Minerals (AVU.v )
  • Midland Exploration (MD.v) Quebec - Favourable tax on exploration
  • Virginia Mines - (VGQ.TO)  - Presentation - Brent Cook likes. Adrian Day pick - Market Cap almost justified by NPV on Eleanore royalty (Goldcorp into production 2014) and cash. Could FNV acquire royalty? > Large cash. 3.5% of 650k oz pa gold, off topline - tax-safer? Spending 20m exploration. Quebec focus. Top jurisdiction.
  • Tarsis (TCC.v) - Mickey Fulp likes. Key Almaden Directors on board plus Adam Fleming. See Presentation : See Lawrence Roulston note Feb-11 at Tarsis website
    • Recent JV with Osisko in Mexico
    • Recent acquisition of projects from Almaden - related group
    • Website
  • Azimut (AZM.v) (Quebec large land holdings) - Sprott site visit gallery
  • Eagle Plains (EPL.v) - or just holds a lot of projects ?
  • Benton Resources (BTN.v) - Due to split out companies. Followed on Cara Community by Kaimu
  • Vena Resources (VEM.TO) - Peru focus. Otto at Inca Kola likes. Discussing uranium developments. Multi-metals. JV with Goldfields on Gold project at Amantina
    • Website
    • Recent deal with private company to develop gold mine to production
  • Corvus (KOR.TO)  - Not sure really a prospect generator ? International Tower Hill spin out.
  • Estrella (EST.v) - Mickey Fulp  Discussion at The Mercenary Geologist. April-12 by Mickey Fulp. Director on Board of Agnico. CEO ex Eurasian (EMX)
  • Cornerstone (CGP.v) - was a Rick Rule holding - updates?
  • Adventure Gold (AGE.v) - Generator or multiple projects?
  • Constantine Metals (CEM.V) - Multiple Projects
  • Solitario Royalty (SLR.TO)
    • Website
    • Presentation PDAC 2013
    • Nevada towards production - financing with Sandstorm -  JVs with majors, exploration pipeline Mexico & LatAm
    • Recent agreement with Hochschild on large Pachuca silver district exploration in Mexico
    • Advanced Zinc and Plat/Palladium projects
  • Condor Resources (CN.v) - Latin America Based. JVs BHP and Mariana.
  • Transition Metals (XTM.v) - New Aug 2011 company
  • Zimtu Capital (ZC.v) - more initial financing focus?
  • Stratex Minerals - STI.L

Potential growth from discovery by Project Generators

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