Irons In Fiji Fire

Zinc In Turkey, Too | Quebec Explorers | Yukon | Biomedicals


O'Brien Mine Targets With Pending Assays In Black
O’Brien Mine Targets With Pending Assays In Black

Cheap Actionables:

  • LKA Gold tells me the Kinross-operated drill rig above its Golden Wonder Mine in Lake City, Colorado, is still there. I was there when Kinross geologists targeted and drilled the first hole in the joint venture. When the weather improves and the snow and ice mellow, the Kinross team likely will return. I own about 15,000 shares of seldom traded LKAI (USA ticker). A marketing program for the tiny company might get some shares changing hands in the next two weeks.


  • Radisson Mining saw an extension of promising mineralization at the old O’Brien gold mine in Quebec. Some 5 grams of gold over six meters. I talked with the company — the challenge with RDS (Canada ticker) is the same as LKAI: very little trading. That is changing this week and last. I own the shares, which also sell as RMRDF in USA. The USA version of the stock is getting action, perhaps indicating that wary Americans see promise at O’Brien, a 90-year-old mine in the Cadillac mining camp, too. Radisson is one of maybe three Quebec explorers I follow and own that are still cheap. The graphic map here is a good idea: that is, Radisson identifies current exploration results and also pending assays. Click on the media file for a larger view. More explorers might think of doing this.
  • Industrial metals such as zinc, cobalt, nickel are rising steadily in price this year. (Spot uranium, too.) Remember our Pasinex Resources – Turkey zinc seller run by engineer Steve Williams of Ontario? Pasinex on Thursday says it sold 1,350 metric tons of ore from its 50 percent-owned mine at Pinargozu in the south. High-grade zinc sulphide — 45% in this case — as advertised. Plus silver. All from a third, fresh adit, or mine opening. Pasinex sold the rock to a commodities broker as is its custom — for $900 per wet ton. It says the rock cost $300 a ton to produce and then ship by truck to buyers. Pasinex, a slug of whose shares are held in a Denver office belonging to Eurasian Minerals, is so obscure that any attention to today’s sale, once again as Mr. Williams has been advertising for many months now, any attention will lift the stock (market value: $22 million USD) further. It is PSE in Canada and PSXRF in USA.20170123_171825
  • Wild speculating: Benton Resources and Natan Resources are both Canada explorers showing off high-grade gold at their properties. Benton’s properties are all over the place and include the greater Thunder Bay area and the island of Newfoundland. There is what looks like visible-to-the-eye gold at its Bevidere project (early stage), and nickel, platinum, silver, copper and other metals in Benton’s various property mixes. I do not own shares — BEX in Canada ticker. Benton looks to be a $10 million USD market value with $2 million or more of cash on hand. Natan is active in the Abitibi region of Quebec. Steve Roebuck, a geologist who went to school in the 1980s at Concordia University in Montreal, runs the company. He is seen in photos handling a sample he pulled from an exposed vein that could assay as much as 430 grams per ton gold. My go-to geologists for the Abitibi gold belt say they never have seen anything that rich and visible in the region. A piece of the rock here is in a photo provided by a school mate of Steve’s.* Natan is NRL in Canada ticker.
  • Thunderstruck Resources: this zinc developer on the island nation of Fiji has been at work getting the word out. We discussed AWE (Canada ticker) five or six times during the past two years. I own it — THURF in USA ticker. Thunderstruck shares likely will benefit from any gains in the prices of zinc (and copper). I have a hard time finding a company whose shares total less than $8 million USD market value — in this case much less — and have bankable prospects with historic and current exploration work, and what I think are honest people behind them. I met recently with the three principals (CEO, chairman, chief geologist) in Canada, and I believe Thunderstruck could get some international attention for its Fiji properties. Very soon. The stock is getting real traction, too. The only other junior out that way – Lion One Metals — is priced at 12 to 14 times the roughly $5 million USD market value of Thunderstruck and beats its drum loudly. Thunderstruck, for good or bad, is tame in the advertising department. I like that. But please, open up a Twitter account, okay? [I just bought more Thursday and own about 35,000 shares — not a lot I know but it’s a start.]
    Other events:
  • Those looking for cobalt ideas — with the price rising smartly this year — there are few legitimate choices. Please contact me and I will email two that look legit and long standing. John Gomez, a metals researcher and business development officer for CanAlaska Uranium, tells me, “Cobalt has almost doubled in price recently. Starting at a perfect $10, it’s exploded through resistance”at $15 as it nears $20 per pound.” John, in Canada, notes, “The grey metal is benefiting from lithium battery growth as cobalt is the largest component of the battery  — as Electric Vehicles explode globally. Supply growth is much smaller and with about 50% from the DRC Congo.” Mr. Gomez gets high grades here for his equity and commodity ideas. John puts his money where his mouth is. I own shares of CanAlaska (CVV in Canada).
  • {Other ownership in uranium: Virginia Energy, Uranium Valley, Fission 3.0, and mulling two others: Craig Parry’s IsoEnergy and Jordan Trimble’s SkyHarbour. For those who ask, I sold my  shares of Mega-Uranium, Richard Patricio’s holding-co with stakes in NexGen Energy and one other (Aussie) and made a small bundle. I look to buy back into MGA (Canada ticker) — if uranium’s spot and probably its term, or contract, prices, cool off here; they are hot as heck right now.}
  • I added to my holdings of Nemaska Lithium this week after a phone call with the company. Nemaska is building its processing plant in Quebec. This is probably the only real new lithium company in the world; all the rest — most I should say — are on the come, it seems. The shares — NMX in Canada ticker and NMKEF — are not cheap, but then, producers rarely are. I know folks from our TCR Network who are buying the shares this week and last in size. Guy Bourassa, Quebec lawyer, has been building this company, its producing camps and its north-central Quebec processing facility for lithium for 6 years.
  • Midland Exploration after a year of swapping ideas with Altius Minerals agreed to spend $500,000 CAD with that Quebec project generator and royalty collector. The two will allow Midland to operate exploration at properties at James Bay in Quebec. I started buying more Midland last week after meeting with Gino Roger, CEO, in Canada. “Partners for Midland now include Altius, Teck, Agnico-Eagle, Osisko, JOGMEC and SOQUEM. “We’re in the process to complete the final agreement (1-2 weeks) and we’re having our first technical meeting next week to decide on which targets we will spend that $500,000 in a first phase, ” Mr. Roger says. “Over the past 3 years we put together a pipeline of high-quality targets in new areas in the prolific James Bay region and we will share the risk exploring them with Altius.”
  • Golden Predator delineated another area at its Three Aces project, and Thursday we see profit taking in the stock — GPY in Canada ticker and NTGSF in USA. I am buying more. The parallel quartz veins from today’s data are higher in elevation vs. the bonanza-grade veins (Ace of Spades zone) that set GPY shares on fire earlier this year. These images and the sturdy but not stellar results (Queen and 9 of Clubs are the names) are from 16 holes in GPY’s winter 2016 drill program. The company says it still has core assays from that Ace of Hearts area to publish in coming days or weeks. When those results are distributed, more heads could turn for the southern Yukon project. If you look at this conceptualizing of the project, right here, you will see the Ace of Hearts zone at left and higher and Ace of Spades at right and lower. I am on the record after visiting the project seven months ago, and after seeing some of the Ace of Hearts core recently, as believing that any consistent gold values from forthcoming Ace of Hearts data will help to convince fresh investors that there is high-grade gold, much of it scrapeable off exposed veins, across large swaths of the Yukon property. I am not a trained geologist nor am I a financial analyst, just a reporter with sources and eyes. I think Golden Predator is the next high-grade Pretium (Pretivm).

    Please reach out if you see something. And no, this is not the NYC Subway. I wanted our TCR Network, which is making money this year and part of 2016, to get this report well before Thursday’s market close.

    We are seeing continued gains for two of our select biomedicals: Immunovaccine, and just today, gapping higher at the open, BioCryst Pharma, which will have clinical updates for its lead rare-disease candidate in about 11 days (hereditary angioedema — phase II, part 1 clinical trial). IMV in Canada and IMMVF in USA | BCRX NASDAQ

    On the gene-editing beat, I added to my holdings of Intellia Therapeutics (NTLA ticker NASDAQ), whose stock along with CRSP received a shellacking this week after a patent office ruling that favored Editas Medicine (EDIT ticker NASDAQ).

    If you are part of our paying TCR Network ... 
    and you need to be reminded which investments I am fleeing, several of them after five or six years, please ping me. I mentioned several the other day.

    * Photo credit: Glenn Mullan, Val d’Or, Quebec, Canada

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    — Thom Calandra (None of these companies pays me — not a one.)
    I’ll be in Chicago next week.

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    Thom Calandra & TCR are researchers and investors. Research and material they offer to subscribers are meant as editorial opinion.