Just some quick thoughts on some things I am watching currently…
With the comments “abundant visual gold up to 1%” it should be pretty obvious that there is an OK chance that the market will look at Goliath differently after said assays are in. If this was the heydays of 2016 I reckon Goliath would already be trading at $200-$300 M. Not riskless but the other zones should already be backing up the current valuation so I see the Risk/Reward as very favorable going into assay risk.
Maybe one of the best undrilled gold/silver targets that I am aware of is Pucamayo. Well, a lot of people have been waiting years to see this finally get drilled and according to the “rumour mill” it might actually happen in the not too distant future. I own a lot of shares for better or for worse (TBD). Thankfully the company has several more projects as backup so the case would not be dead and buried forever even if Pucamayo surprises everyone by not being as good as it looks.
A pre-discovery play that is so exciting it hard to sit still. I own quite a bit of shares for the simple reason that I think they will hit something given that they will be drilling 35,000 meters spread over #100 holes. They are looking for giant copper/gold porphyries so if they hit something it could be a very very big deal even though they might end up keeping 25%. But with that said 25% of something worth a billion is a lot for a $17 M Market Cap junior.
Headwater is drilling away at four projects located in the US. At Spring Peak, which is a discovery already, it seems they hit epithermal veins in all holes so far. The three other projects, including the 100% owned Katey project, appears to have seen successful drilling as well given that the majority of holes hit mineralization. At $20 M Market Cap I sure believe that the risks are to the upside. I own quite a bit of shares.
Onyx Gold and Rackla Gold
Two companies in Yukon/NWT looking for Snowline type deposits. I own some shares or Rackla already but I am watching to see if either or both are lucky enough to make a discovery on the first try up there. I would prefer to see >100 m of > 0.6 gpt to start getting excited. I they hit anything close to some of the Snowline holes then I would get very excited for obvious reasons.
Visuals from especially Midas look encouraging. I have a position already and think there is an OK chance they actually have hit something substantial but I won’t be “plowing” in more before assays would indicate there might be a significant new discovery in hand (or two).
They have a short drilling period so the odds of them de-risking the blue sky potential in a major way is obviously lower than if they had the hole field season to drill. With that said this will be the first modern drilling and if they show that the huge anomaly is legit on the first tries (major step outs and/or deeper drilling with good grammeters) then the game is on. I own quite a few shares and warrants already.
We know Eskay has hit VMS mineralization at four new different targets. Just to be able to confirm VMS systems at all four is of course great in itself but the odds of hitting what the market would see as “discovery holes” is hard to say. Well I should say in THIS market. If the sector sentiment was good then just confirming four new targets to host VMS mineralization might have been enough to give the stock a bump. But alas, this is currently the worst sector sentiment I have seen since at least 2015. Anyway, things can change quickly if the company is lucky enough to have a few good hits right off the bat.
Still waiting for more holes out of Camp Creek and all holes out of the Trapper Gold target. And then there is How Heaven which I think Ivanhoe Electric has two rigs working on right now. A lot of projects and I think the MCAP is not reflecting that.
A private junior explorer that should be publicly listed any day now. I participated in a placement some months back. The proposition is pretty straight forward as this junior has ground near Filo Mining and the other Lundin companies that appear to be finding copper giants every other week down in South America. This is a swing for the fences case. Odds of finding something world class is always low, but if they do, then I would not rule out a >30 bagger one day. Definition of High Risk/High Reward but I hear the technical team is very impressive and insiders own a lot of shares.
I like Altamira a lot. The company has a small resource and probable growth at Maria Bonita. Then add the >3 porphyry targets that looks pretty much drill ready. I would expect the company to raise money in the not too distant future, in order to do the actual drilling required, and I am currently trying to save up money for that.
A $12.4 M Market Cap junior that is currently drilling a porphyry target. I only have a few shares if any in this company today but hey if they are lucky and find something big, well then. Watching until further notice.
Red Canyon has yet to list and is currently a private company which was founded by the same group (Newquest Capital) that founded Headwater Gold and Inflection Resources. This one is focusing on mostly very large porphyry targets in North America. Headwater and Inflection both have major deals with major miners so these guys certainly knows how to pick good projects. Anyway, I am a big fan of Newquest and am interested in any company they create. Lastly, I think they expected to publicly list before this year is over.
… Anyway, those are some stories off the top of my head. If a few of these would work out, and be able to grow for a few years, then I’d be very pleased.
Quite a few assays awaited still. Stay tuned.
Gold Line Resources
A Micro Cap company operating in Sweden. Taj Singh (ex Discovery Silver) just came on board as CEO. I am participating in the current placement. It is a very early stage explorer but I have a soft spot for gold in Sweden and from $5 M in MCAP there is obviously some upside potential in case they find something of significance.
Note: I am biased. I own shares of most companies and some are banner sponsors. This is not investment advice or buy/sell recommendations.