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IQPC interview with CSIRO's Dr Pat Glynn for Ventilation in Mining 2010 - www.ventilationinmining.com.au
Big North Graphite (NRT.V) just announced its first sale of graphite after recent successful test mining. This is significant news as the company sold its first shipment of 200 metric tones of amorphous graphite from its Nuevo San Pedro Mine to a willing buyer.
To find a junior miner trading below $.10, making sales and could soon produce revenues and cash flow is truly impressive. Still many are unaware of this undervalued situation that could make major gains as the investment community realizes the potential here in producing free cash flow.
Disclosure: Author is long Big North Graphite and the company is a sponsor on my website.
Tower Hill Mines (ITH.TO or THM) has an attractive roster of some of the smartest shareholders in the business including Anglogold Ashanti, Paulsen and Tocqueville Gold. I recently spoke with Tom Irwin who was General/Startup Manager for the world class Fort Knox Mine now operated successfully by major Kinross Gold. Tom is an expert in cold weather mining engineering and design. Fort Knox is located close to Tower Hill's Livengood Project near Fairbanks, Alaska. Tom was also commissioner of the Department of Natural Resources for Alaska, which is in charge of permitting. Tom has come out of retirement to work as Vice President of Tower Hill and is leading the work on the Bankable Feasibility Study. He has a great wealth of knowledge in permitting and engineering especially in Alaska. I recently heard Tom talk at PDAC at the "Opportunity Alaska" symposium. I have believed for some time that great wealth will be made in Alaska in the next metals boom. Alaska has some of the greatest mines in the world and Tower Hill's Livengood may be the next major gold mine in Alaska. The 20 million+ gold ounce Livengood Deposit is located in a mining designated area, off a paved-all season highway and most important a local and well trained labor force.
Disclosure: Author is long Tower Hill and the company is a sponsor on my website.
Comstock Mining (LODE) was just approved for a modification which will help the company expand their heap leach pads and reach their production goals of 40,000 ounces of gold annually. The company should increase the rate of production, which should drive down average costs. The company also recently announced that for the three months ending September 30th, they shipped a record amount of gold and silver and are on track to deliver 20,000 ounces of gold for 2013. Comstock Mining (LODE) has moved from a mine explorer into a low cost gold and silver producer in a supportive and friendly mining jurisdiction. The geologic potential of this deposit is huge as management and the geologists believe they are only scratching the surface. Comstock should be in a position to generate free cash flow to expand resource growth in 2014. That is when I think it could really make waves in the mining community as many do not understand how big an operation this could eventually become except some key institutional holders such as Gabelli, Century Management, Solus and U.S. Global Investors. This move to 40k ounces per year for Comstock may be just the beginning as production could increase exponentially over the next 2-4 years as the price of gold and silver continue their secular upward trends. With the addition of the Dayton Mine the company could move up to producing 150k ounces at some of the lowest costs in the industry. Amazingly, the price is still near lows, but may not be for too long.
Disclosure: Jeb Handwerger Owns Comstock Mining Shares and the company is a sponsor on http://goldstocktrades.com
Comstock Mining (LODE) should produce close to 40k ounces of gold equivalent this year in the historic and prolific Comstock District. LODE just announced a new lower cost $5 million revolving credit facility in order to assist with the increase in production and expansion of their Lucerne Mine. Capital will be used to drill the east side of the Lucerne resource. LODE's ability to exceed production guidance in 2013 and their clear growth profile has allowed them to receive more favorable financing terms. Comstock also announced recently the restructuring of debt and royalty obligations which eliminated $2 million worth of debt and royalties. It is also important to remember that Comstock Mining recently secured over 300 acres of private land which will allow valuable growth opportunities. The local community is widely supportive of the company as evidenced by the unanimous approval of Lyon County Board of Commissioners to approve zoning changes on certain mining claims. LODE recently commenced a district wide plan to increase the resources and reserves. The goal is to produce expanded mine plans that include the Lucerne, Spring Valley and Dayton Resource. Investors should realize this is an historic district largely untouched by modern exploration programs. There is the potential for significant growth in 2014 and beyond.
Disclosure: Author owns LODE and company is a website sponsor.
Comstock Mining (LODE) was just invited to ring the opening bell on the New York Stock Exchange to commemorate one year of gold production in the historic Comstock Mining District. Comstock Mining has the who's who list of shareholders and mutual funds such as U.S. Global Investors, Gabelli Funds and Century Management. Comstock Mining is well capitalized on the premier New York Stock Exchange and increasing institutional support during a bear market in precious metals. This outperformance during the hard times may forecast its emerging leadership in the gold mining sector as they may be able to sustain increasing production and resource growth with lower cash costs. Smart investors may just be beginning to realize the potential and growth of this historic mining district which built The West. Comstock Mining has delineated over 3 million ounces of gold and this is just from a tiny portion of the district. There are very few companies growing production, paying down debts and reducing cash costs in the entire industry. Comstock Mining has great potential to grow to 40k gold ounces then to 150k ounces with the addition of the Dayton Mine. Not only should the company be able to produce a potential cash flow, but these funds could possibly sustain major resource growth without having to continue to dilute shareholders by relying solely on the capital markets. Recent results show a major increase in production growth both gold and silver. The company believes the production figures will increase significantly over the next few months. Comstock with great infrastructure has lower capital costs that many of the majors. Cash flow and potential earnings over the next few quarters can make the company self sustainable to drive further exploration and resource growth.
Disclosure: Author is long Comstock Mining and the company is a sponsor on my website.
Comstock Mining recently announced financial results and a production update that showed over six weeks of producing 425 gold ounces per week. This is ahead of schedule and a positive announcement. In the first quarter the company shipped 2,261 ounces of gold and 15,599 ounces of silver. The Bureau of Land Management (BLM) allowed use of an existing haul road which helped the company accelerate growth plans. This is one of the few junior gold companies increasing production and resource growth. In the first quarter, the company published its fourth NI43-101 technical report which validated over 3.2 million gold equivalent ounces and the "Chute Zone" high grades, bonanza discovery.
Comstock Mining is one of the few junior gold miners exceeding production targets, paying down debt and showing excellent resource growth in a mining friendly jurisdiction. The company is on track to produce 20,000 ounces of gold per year. In the next few years we could expect that number to increase to possibly 150-200 thousand ounces per year.
Disclosure: Author and Interviewer is long Comstock Mining and the company is a sponsor on Goldstocktrades.com
Comstock Mining (LODE) is one of the few junior gold miners that is in production and generating positive cash flow in a very turbulent and volatile marketplace. The company is well capitalized to explore and expand the resource around the historic Comstock Lode. In a recent technical report they announced the discovery of the "Chute Zone" which is similar to the historical bonanza grades found by the old time miners over a 100 years ago. This discovery is very exciting as it could really boost the growth of Comstock Mining, which has been producing gold now for about 8 months. Comstock is comparing the Chute Zone to the Woodville Bonananza which was mined in the 1870's. Having a strong management team, shareholder base and positive cash flow to explore the eastern slope of the Virginia Range near Reno, Nevada is very exciting. Comstock Mining has expanded the resource to 2.7 million ounces of gold and close to 27 million ounces of silver. Still, the company believes they are just scratching the surface of the potential in this historic mining district. Current production and positive cash flow could internally fund exploration operations providing less dilution risk to current shareholders. The company has recently stated a near term target of 20k ounces of gold and is looking to expand that over the next few years as additional deposits come online. Finding a growing gold and silver producer that could internally fund resource growth, in a mining friendly jurisdiction, with quality management and strong shareholder support, with the potential to make bonanza style discoveries is not easy to find in today's market environment.
Disclosure: Author and interview own Comstock Mining and the company is a sponsor on my website.
Chris Crupi, CEO of Paramount Gold and Silver (PZG) has just come back from meetings with Asian investors where there is major demand for gold and silver mining assets in North America. Asian investors should continue diversifying away from U.S. dollars and bonds into real wealth in the earth which is trading at multi-year lows. In addition, the majors such as Barrick, Newmont, Goldcorp, Fresnillo and Coeur D'alene may start looking for low cost projects with the ability to produce at least 100-200k ounces a year. Paramount may be one of the best junior miners out there today that fits that profile. Between the San Miguel Project in the heart of the famous Sierra Madre District and the Sleeper Project in the center of mining friendly Nevada, Paramount Gold and Silver should be an acquisition target on the radar of the intelligent mid-tier producers.
Disclosure: Author Is Long Paramount and the company is a sponsor on my website.
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