I have real conversations about mining and metals (the most expensive hobby that isn't all that fun to begin with).
Joined March 2018
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The 2 Junior Mining Companies I Spoke With Last Week (yes, only 2 - I was on a site visit, vid out soon)
I send a free weekly newsletter containing a 5-minute summary of each Resource Talks interview from the previous week.
Below is the lineup from week 42 and the links to the full interviews:
1️⃣ Copper-Zinc Resource Growth in Newfoundland, But is it Big Enough?
> @CanterraC with Chris Pennimpede $CTM.V
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2️⃣ Targeting First Gold in Mali Soon, But Will Permitting Cooperate?
> @CompassGoldCorp with Larry Phillips $CVB.V
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Full interviews + a free newsletter listed below.
Free newsletter containing a 5-minute summary of each Resource Talks interview from the previous week: substack.com/@resourcetalks
I asked @CompassGoldCorp, a gold developer close to cash flow from their Mali project, why they had to re-assay some of the coarse gold material, after the new results came back quite different from the initial assays, and whether that says anything about the reliability of the drilling before they go into production.
Coarse gold is hard to sample.
When re-assays of the same material come back meaningfully different, it should make you ask the question how representative the original drill samples were, and how much confidence can be placed in the grade model.
For a company that is about to start producing, that is not just a small detail either and it can affect grade control, the mine plan, how predictable the early ounces are, etc.
What else could/should I have asked $CVB.V here?
I asked @CanterraC, a copper-zinc company with a VMS project in Newfoundland, after they reported 55% growth in the deposit, whether that was genuine resource growth or whether it was because the copper price used in the copper-equivalent calculation is higher, given that the average copper-equivalent grade is actually down.
Tonnage can rise for two different reasons.
More material can be added to the system, or a higher metal price can pull lower-grade rock into the resource and make the total look bigger on a copper-equivalent basis.
When the average CuEq grade falls while the tonnage rises, it is worth asking which of those two things is driving the number.
The answer helps you see if the deposit is actually getting larger, or if the growth is mostly an effect of the price deck.
What else could/should I have asked $CTM.V here?
The 6 Junior Mining Companies I Spoke With Last Week.
I send a free weekly newsletter containing a 5-minute summary of each Resource Talks interview from the previous week.
Below is the lineup from week 41:
1️⃣ New Gold Discovery in Suriname, But Will the System Hold Together?
> @Miata_Metals with Jacob Verbaas $MMET.V
2️⃣ Gold, Antimony, Tungsten in Idaho, But Can They Really Mine It?
> @Resolution_LTD with Craig Lindsay $RML.AX
3️⃣ Niobium, Scandium and Rare Earths in the US, But Can They Fund The Capex?
> @NioCorp with Mark A. Smith $NB
4️⃣ Gold-Silver Resource in Argentina, But Can the Grade Hold?
> Fredonia Mining with Estanislao Auriemma $FRED.V
5️⃣ Gold Project Next to AngloGold in Nevada, But Is There a Real System?
> @BFROGGold with Ian Slater $FROG.V
6️⃣ New Copper Discovery, But Is the Grade There?
> @StormExInc with Bruce Counts $STRM.V
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Full interviews + a free newsletter listed below.
Free newsletter containing a 5-minute summary of each Resource Talks interview from the previous week: substack.com/@resourcetalks
I asked @StormExInc, a company that recently made a new VMS discovery in Ontario, how they know they are not just drilling the same layer, when they say there could be several separate layers of VMS stacked on top of each other.
In folded (or structurally complex) VMS systems, multiple intercepts can look like stacked lenses when they are actually the same horizon repeated.
That distinction can eventually change the size of the system.
Asking management how they know the intercepts are separate layers can get them explaining the geology instead of assuming every new hit is additive.
What else could/should I have asked $STRM.V here?
I asked @BFROGGold, a gold-silver explorer that is about to drill a new target in Nevada, whether they are already going for market success, or whether they are mainly hoping for a geological success.
Those are not the same thing.
A hole can be geologically interesting and still fail to move the stock if the grade, width, depth, or style of intercept does not match what the market expects in Nevada.
Asking which outcome management is actually targeting helps you understand what they think will count as a win .. and whether the program is designed around what the market (you, if you own the stock) is likely to reward.
What else could/should I have asked $FROG.V here?