TCRs, these two miners are our The Calandra Report titles that thus far refuse to lose market-cap in the ongoing June metals swoon.
Brazil metals explorer Bravo Mining BRVO BRVMG is unveiling an (iron-oxide-gold-IOCG) copper discovery that is reaching in some intervals to 22% grades.
Xtra-Gold Resources XTG XTGRF is just in with 5,400 meters of Kibi-Ghana gold holes.
I count on one hand the times Xtra-Gold Resources released more than 10 exploration holes in a single blow.
The ones just released show 5,450 meters across 17 holes. Jim Longshore, CEO, and Yves Clement, exploration chief, have been working the Kibi gold deposit (800,000 ounces declared) the entire 14 years I have been dropping into their Apapam Camp there.
Xtra-Gold’s Drill Hole Locations in western Africa’s Ghana.
These show stacked “shoots” in most locations, prompting Jim’s rare declaration that the long-distilling project for the consistently profitable XTG XTGRF (property bullion sales) will evolve into a “multi-million resource.”Â
Profits from alluvial gold sales, approx. $2.5 million to $3 million a year, have been “stacking” (approx. $10 million now) on the books for a decade. The remainder pays for all equipment, all salaries, stock buybacks and now, new roads that importantly will connect targets about 1 km from the Kibi’s Boomerang Zone.
[This is why Jim is confident of a sharply graded resource, I think.]
A filed resource upgrade and eventually, I believe, a sale of the company and its 5 licensed concessions are the ultimate strategy. Perhaps as soon as early 2025? Let’s see what the new Boomerang targets show later this year, Jim says.
Bravo Mining‘s latest drill assays from Brazil — Matt Geiger commenting
Highlight thus far: 11.48 meters of copper sulphide grading 14.3% copper, with 3.3 grams per metric ton of gold — 2.9 meters of that at 22.9% Cu, 3.6g/t Au. Not sure if it’s the copper or the gold, or both, turning heads.
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Bravo Mining shares since a July 2022 IPO in Canada have risen to $4 CAD from $1.65. San Francisco fund manager Matt Geiger (MJG Capital) has been telling me and his fund holders about Bravo BRVO BRVMF and the Luanga property since January 2023; the fund started its stake pre-IPO at 50 cents a share.
“It is all about the copper tonnage now,†says Matt, who is joined in his early Bravo stake by four well-known names in the fund management and newsletter spheres. “This transforms the project.â€
19% Copper in this core: 173 meters downhole) — Bravo Mining
Bravo says the oxide copper-gold results, while potent, are still “early days†in its exploration program.
Large investors include $1 trillion BlackRock, which owns 9 percent. Also in Bravo early (pre-IPO) are now retired-in-California newsletter writer Bob Bishop; newsletter writer Doug Casey; mining strategist, broker and investor Rick Rule, California investor Jefferey D. Phillips of Global Market Development.
Courtesy Matt Geiger, MJG Capital
Bob Bishop, Doug Casey and Jeff Phillips each have weighed in with me and The Calandra Report. “ A nice hit,†says Doug, who spends time at a complex in the north of Argentina.
[A Contango Ore equity placement, with warrants, is bruising CTGO shares this week. See news. Yes, I own the stock.]
* Trading note in full report here please.Wednesday June 12 update: I purchased shares
of Kenorland Minerals KLD, approx. $2,500 USD worth.
Kenorland holds a 4% Sumitomo Metals royalty
on the Frotet gold project it developed. I also
have an order to sell approx. $600 USD
of OreCap Investment ORFDF; that is about a third
of our stake in mining holding-co OreCap.
Thom Calandra is a writer and an investor. Research and material are meant as editorial opinion. He is not a professional investment adviser. Please do not consider his reporting as a recommendation to buy or sell securitie
