“This teen-ager needs to leave home,” CEO James Longshore says of the 15-year Xtra-Gold anniversary. James Longshore is tracking China companies, including Zijin, that are hunting for Ghana properties. [See more below.]
180° flip: when a couple of our tried-and-trues rose (Elemental Altus Royalties — its richest price since May 2023; Alamos Gold — best price ever in 21 years; DHT Maritime — all over the place; Integra Gold ITRG, a recent, rapidly profitable buy with a new chief operator-miner), I sold some. I still own each of them.
Coin and metals dealer Dana Samuelson reminded me, there always is an opportunity, rising and falling. (This year’s New Orleans Investment Conference — which Dana, and I, and others, will attend, is scheduled for November 2-5.)
“Your physical can go into cold storage, but the mining stocks, well … .” Dana Samuelson of Amergold
Taken me 21 years, more even, to defrost some of my cold storage. (Speaking of, I have been buying, selling and buying back BITU, the 2x Bitcoin ETF, with good success.) With that in mind, please see trading note at the close of this report.
Notes [EMX | Baselode | Integra | Newcore Gold | Xtra-Gold | Ivanhoe Electric | Avino | Etc.]
— I bought more EMX Royalty after CEO Dave Cole reminded me of Timok, Serbia, miner Zijin Mining‘s annual meeting (on Sunday in the west). See notice.
Dave and his CFO, Stefan Wegner, and the company’s general manager of exploration, Eric Jensen, this weekend are at Cukaru Peki Mine at Timok, a 3 1/2-hour drive from Belgrade.
EMX owns several NSRs at the Timok complex (see photos) that are cash-contributing to its treasury — or will be soon. That includes Brestovac West & East, which covers this just-released assay detail.
“The preliminary exploration at the high-grade Malka Golaja Copper-Gold Deposit at the deep part of the metallogenic belt of Timok, Serbia was completed. According to the report under the JORC Code prepared by a team of competent persons, the cumulative identified copper resources amounted to 2.81 million tonnes with an average grade of 1.87%, and gold resources of 92 tonnes with an average grade of 0.61g/t. In addition, the deposit remains open at the periphery, indicating significant potential for mineral exploration”
The Zijin details are boosting EMX shares this coming week.
Entire TCR report here for subscribers.
EMX gets cash from a 0.3625% NSR royalty over Zijin’s Brestovac exploration permit area at Cukaru Peki). Plus other and richer royalties on precious metals and a 1% net smelter return on base metals on Brestovac West.
The Malka Golaja deposit appears to be covered by EMX’s Brestovac royalty interest. “The Malka Golaja discovery represents a significant development for both Zijin and EMX as a royalty holder,” EMX states.
— * I bought Baselode Energy FIND, an Athabasca Basin, a way oversold explorer, after CEO James Sykes reached out. I’m a soft touch for ‘cheap.’
James has been kept on hold by his outside lab’s most recent exploration assays for more than 6 months. The Job figure vows Baselode has the next great Athabasca Basin discovery of uranium (after what, most recently CanAlaska Uranium CVV at West McArthur, right)?
“I’m glad my family taught me the meaning of patience because navigating these past 6 to 9 months have required a serious amount of patience on my end,” James, a CEO-geo, says.
“My thoughts are clear, I think there’s another uranium discovery in Baselode’s immediate future. I’m excited for the company to start drilling again in May/June.” — James Sykes
Fineprint: $5 million CAD for exploration; another $5 million for working capital.
15-minute video — heartfelt, geeky, upfront — https://www.youtube.com/watch?v=GPn4JTZD21E. I’ll be happy with an instantaneous triple off the 8-cent USD price, TCRs.
Outpacers this stumpy week: Newcore Gold NCAU; CanAlaska Uranium CVV; INTEGRA GOLD ITRG.
— Luke Alexander of Newcore:
“I’m glad you bought back into Newcore over the last few months and are riding the momentum higher. The recent performance is just the beginning in my view, given we have a very strong treasury to complete our PFS and unlock some of the distric–scale exploration potential that exists at our project. We will be news flow heavy in 2025, which will keep the market engaged and hopefully reward our shareholders with a much higher share price.” Luke is Newcore NCAU’s CEO.
Financier Doug Forster in west Vancouver backed Newcore many years ago.
“Ghana, as the largest gold producer in Africa, is an excellent jurisdiction for gold mining and mine development,” Featherstone Capital‘s Doug Forster says Monday.
Doug’s record includes successful Calibre Mining CXB (Nicaragua, Nevada, Newfoundland, Labrador, etc).
Doug is a geologist and 9 years ago saw his Aussie edition, Newmarket Gold, bought by Kirkland Lake Gold for $1 billion. The way NCAU shares are behaving, I have to hope Enchi attracts a major interest from a producing gold-co, an interest that’s four times the current $100 million CAD market worth.
Yes, I own Newcore shares.
I am a sucker for Ghana.
My interests in Ghana are primarily Xtra-Gold Resources and its Apapam HQ and the Kibi Gold Belt deposits and Kibi-producing alluvial tracts that are profitable and keep XTRA-GOLD financed from headframe to base-camp toe.
Xtra-Gold Resources XTG. Owned it almost since the 1010 listing in top-tier Toronto Stock Exchange. Happy Anniversary (this week).
“This teen-ager needs to leave home,” CEO James Longshore says of the 15-year anniversary. James Longshore is tracking China companies, including Zijin above, that are hunting for Ghana properties.
Bought more when it dipped to $1.46 USD XTGRF. Our second largest nat-resources holding here at home and after Ivanhoe Mines IVN.
— Avino Silver & Gold ASM, a Mexico producer getting a gold boost from its Durango-area mine(s). Shares on NYSE approaching $2 for the first time since July 2016. I bought back my ASM (sold more than a year ago) a little more than a week ago — phew.
— West Vault Mining WVM: still dwelling at subterranean levels ($60 million USD market value) and due for a rise. WVM — Nevada based at ready-for-earth-movers Hasbrouck Gold (Wanna-be) Mine. I own WVM shares and have for five years.
Integra Gold ITRG — producing gold in Nevada; developing a mine in Idaho.
“The latest Trump exec-orders, mining of gold in the U.S., are potentially groundbreaking on many fronts: from expedited permitting of mining projects, including gold, to government-backed financing for mining projects.” George Salamis, exec-chair of Integra Gold
Alamos Gold AGI owns a hunk of Integra Gold.
Stifel Nicolas Canada, a brokerage, put this out Friday — at right.
Here is the just-released quarter and new-exec news.
— Electric Copper: After U.S. President Trump‘s pro-mining declaration, Ivanhoe Electric IE closed the week with a 10% gain. IE is developing copper, gold and base-metal mines in several states, most notably in Arizona and Utah. Here is IE’s support release for the White House executive order to boost domestic mining of metals. Here.
Trading Note [Update March 28, 2025]: The drag on the overall stock market, and declining Bitcoin, a good measure of investors’ risk levels, is driving down metals equities — even with the persistent and healthy gains in gold, silver.
This has me taking small profits in some mining company holdings. Rest assured, my views remain the same as they always have been: miners are cheap given the elevated, and elevating gold and silver prices … copper, too.
— Thom Calandra