Month: January 2021

Last year provided extraordinary challenges to Americans as well as people around the world. Hundreds of thousands of deaths were attributed to the Chinese coronavirus.

The economic carnage and the attendant death and suffering along with the loss of civil liberties was grossly underreported.

We’ve seen one economic recession already and are likely in the early stages of a more extended depression.

2020 was capped by a rancorous presidential election with lots of allegations (and at least some evidence) of vote fraud glossed over by the legislatures, courts, media, and official investigators responsible for guaranteeing fair elections.

Americans enter 2021 more divided than at any time since the Civil War. Politics will remain a primary focus for Americans and for investors in particular.

Unfortunately, more violence from various political factions cannot be ruled out. Secession movements may also gather steam.

Americans will hopefully see widespread easing of the coronavirus lockdowns before the summer of 2021.

The virus will no longer be useful as a cudgel for Donald Trump’s political opponents. New York governor Andrew Cuomo has already done an about-face, calling for his state’s economy to be re-open even as his public health officials are apparently botching the vaccine rollout.

So long as a new vaccine-resistant strain doesn’t emerge, the vaccination rollout will provide some cover for officials looking now to ease restrictions and declare victory.

Higher taxes are on the agenda. Democrats at the federal level may have the majorities needed to roll back some of the Trump tax cuts and impose new taxes.

But Democrats won’t need to rely on their newfound power to pass additional stimulus and add trillions more to the federal debt. Big government Republicans never object to additional spending. Congress is already well on its way to passing another trillion-dollar package.

Total federal debt will blow through 30 trillion dollars this year as the parabolic debt curve steepens further.

The political and economic implications of total Democratic control over the federal government have largely been ignored by the financial markets, at least thus far.

However, those concerns are having a profound effect in one market where such fundamentals still matter.

Demand for physical bullion is on pace to set a new monthly record at Money Metals Exchange. Recent events have drawn in a new wave of buyers. However, our experience is not necessarily representative of the broader market because our company is growing more rapidly than most of our U.S. competitors.

Yes, indeed. It promises to be another “interesting” year.

Source: Peter Epstein for Streetwise Reports   01/21/2021

Peter Epstein of Epstein Research profiles a company that controls five options to acquire “promising gold properties” in Canada.

It would be easy to point at the latest news on Portofino Resources Inc. (POR:TSX.V; PFFOF:OTCQB) and say, “look, a gold junior moving into the red hot lithium space!” But, of course Portofino never left lithium, it expanded into precious metals just before the gold price soared from $1,500 to over $2,000/oz (more about that later).

Portofino knows lithium and management knows Argentina

While Portofino is not new to lithium, what I said about lithium being hot is perfectly clear. The top-10 performing lithium companies (all but one pre-production) are up an average of +1,320% from their 52-week lows. These players span hard rock, brine and sedimentary (including clay-hosted lithium projects).

Portofino controls a 2,932 hectare brine project in Catamarca province, Argentina, 15 km southeast of Neo Lithium’s very high-grade/very low-impurities project. Admittedly, 2,932 ha is not a giant footprint, but it’s not tiny either.

Portofino’s property is about the same size, or larger, than land packages held by Argosy Minerals and Lithium South Development Corp., who have market caps of $180 million and $30 million, respectively.

Not only is the lithium sector extremely strong, shares of companies with projects in Argentina are among the leaders of the pack, {Neo Lithium, Lithium Americas, Millennial Lithium, Argosy Minerals and Lake Resources are among the top-12 performers}.

Make no mistake, Yergo is not that valuable today, but it could be after it’s drilled later this year. Lithium Americas is up 870% (even after announcing and closing a $350 million private placement) from its March 2020 COVID-19 low. It has a $3.7 billion market cap, Neo Lithium is up 818%.

Most investors are familiar with mining juniors touting nearby mines as examples of possible outcomes of their exploration activities. Sometimes analog mines are past producers, sometimes they’re 50-150 km away, and sometimes they’re mediocre assets.

By contrast, Portofino’s Yergo project is 15 km from Neo Lithium’s PFS-stage 3Q project, possibly the single best lithium brine project in the world.

In the chart above I show most of the lithium players with all, or substantially all, of their lithium properties in Argentina, (POSCO, Lithium Americas and Galaxy Resources also have projects in other countries). By no means do I mean to suggest that any of the larger companies would care about the Yergo project.

However, there are a handful of names that might benefit from acquiring a new brine project, especially one with demonstrated low Mg levels and one that does not share its salar with others.

If drilling hits Li concentrations anywhere near that of Neo Lithium’s project, Yergo could become something fairly significant. Could it be worth $100 million? Probably not! But, $5–$10 million? Perhaps, especially in the hands of a larger lithium player. Remember, the company’s market cap is just $8 million.

Although Portofino’s lithium assets (including a ~650k share position in lithium junior Galan Resources) hold significant promise, the company’s primary objectives in 2021 remain in the gold sector.

Readers are reminded that management has boots on the ground in Argentina, valuable business relationships dating back nearly a decade, with people in Catamarca province. These relationships are being leveraged not just for lithium, but now for precious metal opportunities as well.

2 gold properties, Gold Creek and South of Otter, to be drilled this year

Near Red Lake, Portofino has the South of Otter (“SOT”) and Bruce Lake properties. In Atikokan, Portofino has three more, Gold Creek, Sapawe West and Melema West. All five properties, totaling 12,843 hectares, are in northwestern Ontario and are controlled via very low-cost, multi-year options to acquire 100% interests. Gold Creek and SOT are the two flagship projects.

Gold Creek comprises 15 mining claims containing ~4,036 contiguous hectares in the Atikokan area, near Red Lake. Gold Creek is Portofino’s most advanced gold project. Management is planning for a 1,000 m (5–6 hole) drill program in the spring.

Historical data, mostly from the eastern portion of the property, includes multi-ounce gold grab samples and drill intercepts of 4.3 g/t gold over 41 m and 4.36 g/t gold over 20.4 m completed in 1995, and a 1 tonne bulk sample in 2008 that returned an average grade of 9.9 g/t gold.

Although there’s been limited drilling, substantial exploration over the decades at Gold Creek included prospecting, mechanical stripping and trenching, geological mapping, airborne magnetic and electromagnetic survey, ground magnetic and electromagnetic surveys, selective radiometric and gravity surveys, and geochemical sampling.

Management negotiated the Gold Creek property option at the height of the global pandemic in March–April 2020. I believe it got a very good deal. How many pre-maiden resource properties have had a 1 tonne bulk sample taken?

A tonne at 9.9 g/t gold—that’s US$600/tonne rock! Significant gold mineralization has been traced along a 1.5 km strike length with grab samples as high as 759 g/t (~24.4 troy oz/ ton).

In the summer and fall, two prospecting programs were carried out which included 211 grab samples. Historical zones of mineralization were sampled, confirming anomalous and high-grade gold in multiple zones—samples returned up to 45.6 g/t gold.

A Mag Survey was flown over the entire property in late summer, followed by a property-wide compilation and structural interpretation. This critical work greatly enhanced the geological and structural understanding of the property.

Prospecting and mapping in the fall led to the discovery of the New Road Zone. Fourteen grab samples were collected, the two best showed 4.1 g/t gold and 720 ppm copper.

Management believes its understanding of the mineralization has significantly improved. For example, locations of historical work are much better known. Gold zones confirmed in 2020 will be drill-ready—following a detailed review of previous drilling and ongoing structural interpretations.

South of Otter is Portofino’s premier Red Lake project

The 5,363 hectare South of Otter (“SOT”) property is in the same greenstone belt hosting the world-class Red Lake District (“RLD”), including Great Bear Resources’ high-grade Dixie project in northwestern Ontario. SOT is ~8 km east of Great Bear’s prolific, ongoing gold discoveries.

The RLD is one of the highest-grade gold mining camps on the planet, and has produced >30 million ounces of gold. The regional geology has been compared to top-tier districts such as the Timmins and Kirkland Lake Camps in northeastern Ontario.

In August, 2020, management reported assays from grab samples that identified two gold-bearing quartz veins sampling 18.0 g/t and 8.19 g/t gold. Historical exploration at SOT includes prospecting, sampling, geophysical surveys and limited diamond drilling.

A few months ago, a ground VLF/EM survey was done to refine gold mineralization targets of merit and to identify areas for prospecting, trenching and drilling. Three substantial conductors were found over a 1.6 km strike length.

Three earlier-stage gold properties….

Portofino has an option on 100% of the 1,428 ha Bruce Lake property, also in the RLD, ~1.5 km northeast of Great Bear’s Pakwash property, and ~11 km southeast of the above mentioned Dixie project. Bruce Lake hosts gold-in-soil anomalies discovered in 2010. Management believes regional magnetic highs coincident with the gold-in-soil anomalies are significant.

Melema West is a smaller (869 ha), early stage property ~28 km northeast of the town of Atikokan. There are some gold showings in the area and the property is on a structure that’s parallel to Agnico Eagle’s 32,070 ha, 4.5M oz., near-surface Hammond Reef deposit. Lately, Agnico has been staking ground around Melema West and Sapawe West.

CEO David Tafel recently commented,

“Gold-bearing northeast trending structures in this area are extensive, well documented and traceable for over 30 km. Recent claim staking by Agnico in the area, contiguous to Melema West, and around Sapawe West, supports our belief that these properties are strategically well located.”

The Sapawe West property is quite close to Melema West, just north of the Quetico Fault and 2.5 km west and along strike of the past producing Sapawe Gold Mine. Sapawe West is ~13 km south of the Hammond Reef deposit.

Conclusion

Portofino Resources controls not two or three, but five options to acquire 100% interests in promising gold properties in and around the Red Lake district and the Atikokan area of northwestern Ontario. Two of the five, Gold Creek and South of Otter, are flagship projects near very prominent projects. Both will see drilling this year.

Ongoing, exciting drill results and exploration/development activities advanced by Great Bear Resources and Agnico Eagle will provide positive investment catalysts for Portofino.

In addition, management wisely held on to a 2,932 hectare lithium brine project in Catamarca province, Argentina that (could become, after drilling) fairly significant relative to Portofino Resources’ (TSX-V: POR) / (OTCQB: PFFOF) tiny C$8M market cap. The Yergo lithium brine project is a long-dated call-option on continued strength in battery metals.

The company’s projects are all early-stage, but in a bull market for gold, (and potentially for lithium), early-stage offers the most upside potential, albeit with commensurate risk. Having five gold properties spreads the risk and increases the odds that drilling will lead to one or more noteworthy discoveries. I continue to like the compelling risk/reward proposition here.

Peter Epstein is the founder of Epstein Research. His background is in company and financial analysis. He holds an MBA degree in financial analysis from New York University’s Stern School of Business.

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Disclosures: The content of this article is for information only. Readers fully understand and agree that nothing contained herein, written by Peter Epstein of Epstein Research[ER], (together, [ER]) about Portofino Resources, including but not limited to, commentary, opinions, views, assumptions, reported facts, calculations, etc. is not to be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy or sell any security. [ER] is not responsible under any circumstances for investment actions taken by the reader. [ER] has never been, and is not currently, a registered or licensed financial advisor or broker/dealer, investment advisor, stockbroker, trader, money manager, compliance or legal officer, and does not perform market making activities. [ER] is not directly employed by any company, group, organization, party or person. The shares of Portofino Resources are highly speculative, not suitable for all investors. Readers understand and agree that investments in small cap stocks can result in a 100% loss of invested funds. It is assumed and agreed upon by readers that they will consult with their own licensed or registered financial advisors before making any investment decisions.

At the time this article was posted, Portofino Resources was an advertiser on [ER] and Peter Epstein owned shares and warrants in the Company.

Readers understand and agree that they must conduct their own due diligence above and beyond reading this article. While the author believes he’s diligent in screening out companies that, for any reasons whatsoever, are unattractive investment opportunities, he cannot guarantee that his efforts will (or have been) successful. [ER] is not responsible for any perceived, or actual, errors including, but not limited to, commentary, opinions, views, assumptions, reported facts & financial calculations, or for the completeness of this article or future content. [ER] is not expected or required to subsequently follow or cover events & news, or write about any particular company or topic. [ER] is not an expert in any company, industry sector or investment topic.

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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

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Source: Streetwise Reports   01/21/2021

iMetal Resources is setting out to see if the multi-million ounce gold resource next door continues onto its Gowganda West property in Ontario.

iMetal Resources Inc. (IMR:TSX.V; ADTFF:OTCBB) holds about a half-dozen projects in Ontario and Quebec, with Gowganda West in northern Ontario in the Abitibi Greenstone Belt—and about 90 km southwest of the Timmins Gold Camp—its chief focus. The property abuts Caldas Gold Corp.’s Juby Gold project where an October 2020 technical report estimated a resource of 773,000 ounces of gold at a grade of 1.13 grams per tonne (g/t) in the Measured and Indicated category and 1.488 million ounces at 0.98 g/t in the Inferred category.

iMetal, after staking the land and growing the project from 20 sq kilometers to 147 sq kilometers, set to explore it. “After discovering some rocks with gold and grab samples, we did VTEM magnetics late in 2019 over 40% of the property,” Director Johan Grandin told Streetwise Reports. “The VTEM survey identified the potential strike extension of the shear zone hosting the Juby deposit and also two parallel shear zones to the south hosting Zone 1 and Zone 3.” Surface samples have returned values as high as 56.6 g/t gold.

Several years ago iMetal drilled seven holes, concentrating in a limited area of Zone 1, with one hole drilled well to the east of Zone 3. Highlight drill intersections included 2.95 g/t Au over 2.5 meters, 1.43 g/t Au over 4.6 meters and longer intervals of 0.37 g/t Au over 29.4 meters and 0.32 g/t Au over 30.25 meters.

The company conducted a sampling program in 2020 to test areas peripheral to Zones 1 and 3, and just-released assays have led to the discovery of new gold mineralization that extends Zone 1 some 500 meters to the north, and open in both directions, and the discovery of a new zone 150 meters northeast of Zone 1, which, according to the company, may be an extension of the zone or a parallel zone. The Zone 1 samples included 5.13 g/t gold and five of the seven samples returned assays above 1 g/t gold.

The exploration work also resulted in the discovery of a new zone, the Elkhorn Zone, 8 km southwest of Zone 1, with sampling returning values as high as 2.32 gold.

“The newly discovered gold mineralization both extends the open-ended Zone 1 and suggests further extension or a parallel structure and further supports Gowganda West being related to the Juby mineralizing event,” stated iMetal CEO Saf Dhillon. “The newly discovered Elkhorn Zone gives the company a third area of exploration focus to further develop as a drill target.”

The company now plans shortly to begin a phase 1 2021 drill program based off of the results of the IP survey and grab and channel samples. “We are permitted from the First Nations and the government for all drilling,” Grandin said.

“We plan to drill Zone 1 in Q1 and conduct follow-up sampling and channel sampling in advance of Q2 drilling at the Elkhorn Zone. We expect to have news on drilling shortly,” Dhillon stated.

“We have a pretty exciting project, and it’s definitely a hot area play,” Dhillon said. “We have one of the largest land packages; we have one of the best addresses.”

iMetal has some noteworthy neighbors. Caldas Gold Corp. was the recipient of a CA$14 million investment by Gran Colombia Gold Corp. in June 2020. Caldas used the funds to complete the purchase of South American Resources Corp., holder of a 100% interest in the Juby project and a 25% joint venture interest in some claims adjoining Juby. In November, Caldas announced a CA$85 million private placement financing with Aris Gold Corp. The deal will result in changing Caldas Gold’s name to Aris Gold Corp. as well as management and board of director changes. Gran Colombia is expected to become an approximately 45% shareholder. The announcement stated, “The Company will be led by a highly experienced Board with new nominees, including Ian Telfer as Chair, David Garofalo, Peter Marrone, Attie Roux, Daniela Cambone and Neil Woodyer. Gran Colombia’s nominees will be Serafino Iacono and Hernan Martinez. In addition, Frank Giustra will be a Strategic Advisor. The management team will be led by Neil Woodyer, as CEO.”

iMetal borders Platinex Inc. to the west. Last June, Platinex purchased 208 mining claims from Treasury Metals to consolidate adjoining projects in the area.

To the south and east lies privately held Battery Minerals Resources, which has actively been exploring its Gowganda property and plans to build a cobalt mill in the area.

Orefinders Resources Inc., iMetal’s northwest neighbor, shares a border with Juby. Orefinder’s Knight properties includes the past producing Tyranite property as well as the Minto, Duggan and Porphyry Lake properties.

IAMGold’s Cote Gold project, 50 km west of iMetal, is under construction and has an estimated life of mine production of 6.61 million ounces of gold.

At the end of last year, iMetal brought on geologist R. Tim Henneberry as the qualified person and a director. Henneberry has over 40 years of exploration and production experience, including as former CEO of First Vanadium Corp., Indigo Exploration Inc. and Pike Mountain Minerals Inc., now Carebook Technologies Inc.

iMetal recently raised just over CA$2 million in a private placement, with each unit consisting of one common share of the company and one common share purchase warrant for CA$0.20 with a two year expiration date. The firm currently has 42.3 million shares outstanding, 64.3 million fully diluted. Management owns approximately 24%.

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Disclosure:
1) Patrice Fusillo compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an employee. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with iMetal Resources Please click here for more information.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of iMetal Resources, a company mentioned in this article.

( Companies Mentioned: IMR:TSX.V; ADTFF:OTCBB,
)

Source: Maurice Jackson for Streetwise Reports   01/20/2021

In conversation with Maurice Jackson of Proven and Probable, the CEO of Riverside Resources outlines the “sunglasses needed” future he sees for the company in the coming year.

Maurice Jackson: Joining us for a conversation is Dr. John-Mark Staude of Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB), where “knowledge is golden.” Dr. Staude, on behalf of all the shareholders, happy new year, and glad to be speaking with you today, sir.

Riverside has just consummated a banner year for shareholders in 2020. And today, the company released the corporate outlook for 2021. Before we look forward, John-Mark, let’s take a look back on the strategic successes of 2020, as shareholders profited from a share price increase from $0.10 up to $0.54, to include a spin-out, which was just the icing on the cake. Take us through 2020 and share some of the key highlights for us.

Dr. John-Mark Staude: For us, 2020 saw us accomplish several milestones under very difficult circumstances. We’ve focused on being COVID-focused and careful. We were already been operating in Mexico, and our property portfolio was already in hand. So for us, the success with BHP Billiton Ltd. (BHP:NYSE; BHPLF:OTCPK): Working with them in the field allowed us to move ahead on copper. On the gold side, we were able to do a deal with Hochschild Mining Plc (HOC:LSE), in which we then were able to drill. And we’ve been very excited about going forward with them.

The third thing, of course, was the spin-out that we were able to do. And that’s been excellent, as you say, the icing on the cake. And now we get the benefits of a fourth deal that we got last year on the Cecilia project, where we’ll now see drilling in 2021.

So 2020 was a great year and it sets us up well for going forward. I’m excited about where we’re going.

Maurice Jackson: I’m excited about all of the catalyst going forward here, in particular, Cecilia. I’ve been there with you so I’m looking forward to seeing what the future brings there.

Dr. Staude, all of the aforementioned was accomplished during a global pandemic. Share with us some of the internal adjustments that Riverside made that contributed to the accomplishments last year.

Dr. John-Mark Staude: It was very tough. First off, we had to focus on our staff. And it was hard. We had to leave our offices and go and work from home. We also had to go and work with protocols and work with the Mexican government and in Canada, as well to put forth all the required steps. We, therefore, went through training and worked on it. And now we’ve got a very clean office setup, we’ve set up new rules to operate in a safe environment. And we’ve also made coordination with doctors, where we can get rapid tests done, and we can monitor our camp situation.

Running a drill program with over 40 people in the camp was a quite significant event for us. And we were able to do that without any COVID cases, being careful and monitoring it. Also, we’ve taken things to the community, masks in protective areas. We’ve set up new houses that we’re staying in, instead of hotels. We’ve hired cooks and are working in our setting instead of going to restaurants. We modified our work to have as little impact on the communities and to be as careful as we can for all of our staff and clients. I’m very excited about managing this in 2021.

Maurice Jackson: Looking forward, Riverside just released the corporate outlook for 2021. And you’ve referenced in previous interviews that the future for Riverside is very bright. Let’s find out just how bright. John-Mark, walk us through some of the objectives and timelines the company’s outlined for this year

Dr. John-Mark Staude: For us, one of the things is partner drilling. I have a rock sample here from the Cecilia project. And what we’re excited about at Cecilia is this breccia; this breccia will be one of the many things that we’re going to get to drill. We’re going to finally get the drill results from Cecilia. In the coming weeks, that’s happening.

A second thing I’m excited about is our work in Mexico with BHP. Working with BHP—the world’s largest mining company, which has a mega focus on copper, operates large copper mines—we see copper as a key commodity. And operating with them, [we will] be able to meet the key standards of COVID and the key standards of a global major company and working and operating for and with them, even in these times. I predict we’ll be able to extend our alliance going forward for more years. And that’s going to be great. So, that’ll be fun to see that in the news flow.

A third thing I’m very much excited about is, again, drilling and that’s actually in Ontario, with our Longnose Project, the drilling of our Oakes Project. Here we see some of the vein systems that’ve been previously been mined at the neighboring property adjacent to us. And we see the potential of continuing the mineralization on our ground and a drill program to work at our Ontario projects in drilling.

Important to note, Equinox Gold Corp. (EQX:TSX; EQX:NYSE.A) recently bought out Premier Gold Mines Ltd. (PG:TSX) for over $600 million, adjacent to Riverside’s tenure. So, our Oakes Project, our Longrose Project, our Pichette Project are three projects that we see as catalysts for the new year.

Another thing we see is more growth in our Mexican portfolio. We see more deals coming out in our La Silla Project and are working on things there.

And a fourth thing we see is the work going in our High Lake Greenstone Gold Belt Project. There, last summer, we did work and worked up targets.

And so, I think, we’ll see news flow in 2021, potentially with partners and going forward with exploration there. So we have a rich history, but we have a great “sunglasses needed” future. The drilling at Cecilia, the going forward with BHP, the great work we have on additional projects in Mexico, and of course, the whole portfolio in Canada. Definitely a good year coming ahead.

Maurice Jackson: And all that with the metal prices moving strategically in your favor—gold and copper. And one of the things about copper, I think, that gets overlooked, that many people may not be aware of and I’m not sure we’ve highlighted it before—the global demand in the next 25 years for copper is going to be more than all of the entire consumed copper in recorded history in the next 25 years. And those are one of the two key elements that you’re looking for here. And again, thank you for highlighting that and making us aware of it. When can shareholders begin to see news flow in 2021 in Mexico and Canada respectively?

Dr. John-Mark Staude: So I think in the next three weeks, we’ll have news flow coming out of Mexico. I predict we’ll see an expansion of our alliance with BHP going forward, with another year of work at least. That’s going well.

I think also, we’ll see news flow from Mexico coming out in the next few weeks for our Cecilia Project. The people are in the field right now. Our teams are working on getting it. We’re waiting on the signing of a drill contract there. That’ll be a good news flow. And we’re excited about the potential there.

And in Canada, we’re working on the portfolio there. And I think we’ll see news flow in the first quarter coming out of our Canadian projects and some of the transactions we’re working on.

We’re super busy and excited. It’s been so tough with COVID. People are working from their homes, but it has made them available to contact. And we, operating on the ground, being boots on the ground, working in our local communities, can be the implementers and taking action during this time to make discoveries. So with the commodity prices going up, Riverside was positioned well. And now we’re able to take advantage of it; excited about 2021.

Maurice Jackson: Right. Switching gears, let’s look at some numbers. John-Mark, what is the capital structure for Riverside Resources?

Dr. John-Mark Staude: Riverside continues to have a tight capital structure. We haven’t put out shares very often. We have fewer than 69 million shares out. We also have a good cash position, over $3.5 million in cash. Of course, no debt, never debt for Riverside. And the thing we like is the income we’re getting from the sale of shares, but also the income we’re getting from our joint venture programs we’re having. We see the capital structure continue to be tight and good for the coming year and two.

Maurice Jackson: In closing, sir, what would you like to say to shareholders?

Dr. John-Mark Staude: Thank you so much for hanging with us this year in 2020. And we’re so excited about the ride for 2021. We also look forward to being available if anyone does wish to reach out. Come to our website www.rivres.com. We are working very actively and we look forward to sharing on social media as well as in our news releases, the steps, and excitement that we have for what’s happening going forward.

Maurice Jackson: Dr. Staude, it’s been a pleasure speaking with you today. Wishing you and Riverside Resources the absolute best, sir.

Before you make your next precious metals purchase, make sure you contact me. I’m a licensed representative to buy and sell physical precious metals through Miles Franklin Precious Metals Investments, where we have several options to expand your precious metals portfolio from physical delivery of gold, silver, platinum, palladium and rhodium directly to your home or office, to offshore depositories and precious metal IRAs. Call me directly at (855) 505-1900 or email maurice@milesfranklin.com.

Finally, please subscribe to Proven and Probable, where we provide mining insights and bullion sales. Subscription is free.

Maurice Jackson is the founder of Proven and Probable, a site that aims to enrich its subscribers through education in precious metals and junior mining companies that will enrich the world.

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Disclosure:
1) Maurice Jackson: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Riverside Resources. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: Riverside Resources is a sponsor of Proven and Probable. Proven and Probable disclosures are listed below.
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3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
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( Companies Mentioned: RRI:TSX.V; RVSDF:OTCQB,
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Source: Peter Krauth for Streetwise Reports   01/19/2021

Peter Krauth, the editor of Silver Stock Investor, looks at silver’s bull markets since the 1970s and discusses what he thinks lies ahead.

There’s no consensus on whether silver is in its second or third secular bull market since the 1970s. That’s because people define bull markets in different ways.

But as I’ll show you, it’s not that important.

What we do know is that silver enjoyed a huge bull market from about 1971 until 1980, and then another major bull run from about 2001 until 2011.

Most secular bull markets run through a period, usually about half-ways on the time scale, where the commodity’s price falls by about 50%, sometimes more. This is an observation by the legendary commodities investor Jim Rogers.

In my own experience that’s in fact often the case, although sometimes the price correction is less severe if it’s drawn out over a longer time. Corrections are typically short and deep, or long and shallow. There is no rule, and it’s never the same.

Let’s dig into these previous bull markets to give us an idea of how silver has behaved. This will provide somewhat of a roadmap for what may lie ahead. Spoiler alert: looking back on how silver performed in the past points to much bigger gains ahead.

Past Is Prologue: Silver Bull Markets

In the 1970s silver rose from a low near $1.40 in 1971 to peak at $49 in 1980. That produced a whopping 36 times return, or 3,600%. Every $1,000 became $36,000.

Then, silver eventually bottomed in 2001 at $4.20, before rising all the way back to $49 in 2011. Investors who had positioned themselves early enjoyed a 1,160% return.

Now let’s dissect both of these bull markets in more detail, because understanding how they behave can help you better prepare. As you’ll see, silver is volatile. But if you want to benefit from its big gains, you have to be willing to hold on through what is sometimes a wild ride.

As I said, silver bottomed near $1.31 in October 1971. That’s when its 1970s secular bull market began.

It then peaked at $5.78 in February 1974. That was a 340% gain in less than 3½ years. But then silver started to lose ground.

That correction took it from $5.78 to $3.97 in January 1976. It was a relatively shallow, but drawn-out correction. By October 1978 silver had surpassed $5.78, and eventually went onto a blow off mania high near $49 in January 1980, gaining 1,130% from its 1976 low. (Note that the $49 high in 1980 doesn’t appear in this chart because it shows monthly prices).

Silver’s gain from the 1971 low of $1.31 to its $49, 1980 high was an astounding 3,640%.

Two decades later, it would do something similar…again.

In November 2001, silver bottomed at $4.14. No one was paying attention, and no one wanted it. Silver was the perfect contrarian trade. It then launched into a new bull market, rising to $19.89 by February 2008, producing a 380% gain.

Silver then corrected from $19.89 to $9.73 in October 2008, putting in a relatively short but sharp 50% correction. It then went on to climb all the way to $49, reaching that level in April 2011, for a 403% gain from its 2008 low.

But during its decade-long run that started in 2001 up to its peak in 2011, silver gained 1,080%. That’s a tenfold gain.

Prepare for Silver Corrections

Silver is volatile. There’s no denying it. But that’s also part of its appeal.

Between 2002 and 2006, silver dropped 10% or more four separate times.

Then, between 2006 and 2011, more short but sometimes deep corrections came, with silver dropping 13% or more three times.

Overall, from 2001 until its peak in 2011, silver gave back 20% or more four times. But the real takeaway is that anyone who held on from the beginning enjoyed an astounding 1,080% gain.

And one final point to consider; silver stocks offer tremendous leverage to silver itself.

This chart compares the performance of SLV, a silver ETF that mimics the price of silver, with SIL, a silver ETF made up of mostly large silver miners. The chart runs from mid-January to early August 2016.

The black line is SLV and the blue line is SIL. During this six-month period, SIL was up 240%, dramatically outperforming SLV which gained a very respectable 48%. Silver stocks were up by five times as much as silver itself in just six months.

That’s why I want to own silver stocks, as well as silver itself. The leverage can be tremendous.

Where Silver Stands Today

Given the extreme and unprecedented levels of stimulus, money-printing and debt in the last few decades, my view is that we are still in the midst of the silver bull market that started in 2001.

I think silver’s bull could run for a total of about 25 years starting from 2001. With that in mind, we could have another 5-6 years in front of us, maybe more.

From silver’s $49 peak in 2011 to its $12 bottom this past March, silver lost 75%.

The fact that silver bottomed at $12, which was almost triple the $4.14 low in 2001, suggests to me that we are still in the same powerful multi-decade bull market.

My target price over the next few years is for silver to reach at least $300. How I reach that number is a topic for a future article. But before you think I’m crazy, I can assure you that it’s an estimate relating to the gold price, and based on how gold and silver have performed in previous bull markets.

If silver reaches my target of $300, that will be a 1,150% return from its current price near $25.

While that’s a tremendous return, you need to expect volatility and future corrections. But you’ll only benefit if you’re willing to stay the course. There will be opportunities to lock in profits along the way, especially in silver stocks, but you need to have a core position you’re willing to hold through corrections for maximum gains.

I’ve written a detailed Silver Report (click here) explaining why silver has tremendous upside, and is heading much higher in the years ahead. In it I cover both the demand and supply side dynamics for silver, showing why the metal is fundamentally still very cheap, but how the outsized opportunity is in explosive silver stocks.

Bull markets do their best to bring along the fewest participants. Just don’t let the silver bull shake you off.

–Peter Krauth

Peter Krauth is a former portfolio adviser and a 20-year veteran of the resource market, with special expertise in precious metals, mining and energy stocks. He is editor of two newsletters to help investors profit from metal market opportunities: Silver Stock Investor, www.silverstockinvestor.com and Gold Resource Investor, www.goldresourceinvestor.com. In those letters Peter writes about what he is buying and selling; he takes no pay from companies for coverage. Peter has contributed numerous articles to Kitco.com, BNN Bloomberg, the Financial Post, Seeking Alpha, Streetwise Reports, Investing.com, TalkMarkets and Barchart, and he holds a Master of Business Administration from McGill University.

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Disclosure:
1) Peter Krauth: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: Global X Silver Miners ETF (SIL). I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. I determined which companies would be included in this article based on my research and understanding of the sector.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
4) This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Source: Peter Epstein for Streetwise Reports   01/19/2021

Peter Epstein of Epstein Research highlights the importance of NuLegacy Gold Corp.’s drill program this spring.

Significant drilling will commence again this spring on NuLegacy Gold Corporation’s (NUG:TSX.V; NULGF:OTCQB) highly prospective Rift Anticline target on its flagship 108-sq. km Red Hill gold property in Nevada’s prolific Cortez gold trend. The drilling of 12, perhaps 13 more holes will commence in April. These will be much deeper holes than have been drilled in the past.

On January 15th, management announced the rapid (five business days) subscription for a 100 million unit private placement, (gross proceeds = $12.5 mllion), expected to formally close any day now. Will 2021 be the year that NuLegacy cracks the code of the Rift Anticline formation on its large property?

Go BIG or go home drill program starts in April….

CEO and co-founder of NuLegacy, Albert Matter commented,

“Completing the financing is critical as it allows NuLegacy to start contracting for the much bigger and more expensive deep drilling rigs, and the superior drill teams needed, that will soon be in short supply…. enabling us to accelerate our expanded Spring/Summer drill program….”

Readers may recall that management is laser-focused on confirming high-grade Carlin-style gold deposits over the roughly 6 sq. km Rift Anticline target on its flagship Red Hill property. This target is on trend and adjacent to Barrick Gold’s three multimillion-ounce, Carlin-type deposits (Pipeline, Cortez Hills and Goldrush).

Across the district, the Rift Anticline hosts giant, high-grade deposits such as the 10M+ ounce, 10 g/t gold, advanced-stage Goldrush project, located ~10 km northwest of Red Hill.

Over the years, NuLegacy has enlisted eight former Barrick employees, board members and/or advisers. Including the very well-respected Roger Steininger—who led teams that discovered the South Pipeline and Long Valley gold deposits—this world-class group of nine is credited with discovering >50M ounces of gold in Nevada.

A powerhouse technical team unleashed, no holes barred!

Dating back to the mid-1980s, NuLegacy’s team and advisors (while at Barrick and at other companies before joining NuLegacy) have greatly advanced the understanding of Carlin-style gold systems.

Modeling the geochemical, geophysical and drill data of the Rift Anticline in north-central Nevada has evolved to the point that NuLegacy’s team is confident the Wenban5 unit hosts mineralization. The question is: how uniform and what grade?

On December 15th, a corporate update was delivered on the first four drill holes. Wide intervals of the Wenban5 stratigraphic unit were confirmed. Holes 1 and 2 were drilled to an average depth 607.5 meters, and holes 3 and 4 to an average depth of 850.5 meters.

These deeper holes are expensive, which is why the company raised additional funds. Assays from the first two holes contained numerous intercepts of anomalous gold values, but no flashy grades to brag about.

However, Ed Cope, Director, Exploration remains enthusiastic,

“I’m very impressed with these results. There are numerous subtle signs in the geology and geochemistry of these results that are difficult to articulate in a brief news release, and might appear inconsequential to the uninitiated, that indicate there’s a significant gold deposit ‘lurking nearby.'”

The Wenban5 horizon hosts 75% of the gold in Nevada Gold Mines’ giant, high-grade Goldrush project. Importantly, the presence of a thick section of Wenban5 underneath basalt cover was predicted by NuLegacy’s geologic team to within 10 meters — an impressive feat of interpretative geology!

There’s gold on the 6 sq. km Rift Anticline, but how much? What grade?

The presence of a Carlin-type system was intercepted at an average depth of ~332 m with an average thickness of ~173.5 m.

Management notes that it appears none of the Wenban5 horizon has been eroded or faulted off as was the case in prior holes over the years that produced smoke, {11.0 g/t over 12.2 m, 16.9 g/t over 8.7 m, 9.6 g/t over 5.1 m, found well to the east of the Rift Anticline}, but no fire.

The reason why Quinton Hennigh and others are so excited with events unfolding at NuLegacy’s portion of the Rift Anticline is that a close analog is none other than Barrick’s 10M+ ounce Goldrush deposit.

I mentioned Mr. Hennigh because he’s been talking about this for months. {Please click on video clip above}.

In the comparison slide above, select metrics of the Rift Anticline, as expressed on NuLegacy’s property, compare favorably to that of the Goldrush project with respect to deposit width, Wenban5 thickness and depth. Grades and continuity of mineralization are critical unknowns that will make or break the NuLegacy Gold story.

Regarding the importance of understanding the structure at Red Hill, Mark Bradley, VP Exploration, commented,

“Our advanced structural modeling of the Rift Anticline is a very powerful exploration tool, permitting us to prioritize our initial drilling efforts within the large, 6 sq. km Rift Anticline surface area, thus optimizing our chances for discovery.”

One might look at this Rift Anticline target “up close” slide, and wonder if the Wenban5 horizon at Red Hill is too small.

No! Management and advisors have been explaining that the dimensions of the Wenban5 horizon on NuLegacy’s property are sufficiently large to (potentially) host millions of ounces (if the grade is reasonably strong and there’s decent continuity).

Twelve, perhaps 13 more (deep) drill holes this spring/summer

Once width, average thickness and grade are reasonably well established, some preliminary estimates of the potential volume of the gold-bearing Wenban5 unit can be made.

The remaining 12 holes of a 16-hole (11,500 m) drill program are fully funded and scheduled for completion in the upcoming spring/summer drill program. However, with the newly raised cash, the holes may be drilled deeper and possibly faster (multiple rigs).

Listening to the podcast embedded above—which walks through the reasoning behind the bullish Rift Anticline thesis—it’s clear there’s potential (but, no certainties) of a very large gold system.

I have no insights into how much gold the Rift Anticline on NuLegacy’s property might contain, but management and advisors believe that the dimensions make millions of ounces a possibility.

Readers should note that due to size, grade, depth and continuity factors, the vast majority of gold-prospective properties around the world have 0% probability of hosting a potentially economic 5M+ ounce deposit.

Even a 2 to 5M ounce resource in Nevada would be quite valuable. In the chart below are seven companies from high-quality jurisdictions in North America.

Multi-million ounce deposits in Nevada are quite valuable

Resource estimates range from 0.67M to 3.7M ounces. Enterprise Value {market cap + debt – cash} (“EV”) divided by ounce values range from C$45–$195. The average EV/oz. figure = C$89/oz.

All else equal, if NuLegacy were to delineate 2M ounces, it would be trading at just C$29/oz. While we’re not there yet, line of sight beyond the number of ounces contained in a maiden resource will hopefully come into view. There might be a conceptual multi-million ounce resource target to contemplate later this year.

These peers are more advanced than NuLegacy, however readers can imagine what a multi-million ounce resource could potentially be worth if management has drilling successes this year. The average EV of these peers is ~C$191M vs. ~C$58M for NuLegacy.

Conclusion

All eyes are on NuLegacy’s drill program this year. It will be a substantial program. While no one knows what the drill bit might find, the company’s expert technical team is optimistic about the potential of unlocking new clues in the Rift Anticline.

NuLegacy Gold (TSX-V: NUG; OTCQB: NULGF) has proven that it’s not easy to find a needle in a haystack, but 2021 could be the year that it happens. No matter what unfolds, 10 years of exploration on the Red Hill project will never go to waste. This is very valuable data, increasingly so in a gold bull market.

Ideally, NuLegacy can find significant smoke, or fire! that warrants continuing to advance the project. However, if given a chance, a mid-tier or major gold player would very likely pick this project up and run with it.

Peter Epstein is the founder of Epstein Research. His background is in company and financial analysis. He holds an MBA degree in financial analysis from New York University’s Stern School of Business.

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Disclosures: The content of this article is for information only. Readers fully understand and agree that nothing contained herein, written by Peter Epstein of Epstein Research [ER], (together, [ER]) about NuLegacy Gold, including but not limited to, commentary, opinions, views, assumptions, reported facts, calculations, etc. is not to be considered implicit or explicit investment advice. Nothing contained herein is a recommendation or solicitation to buy or sell any security. [ER] is not responsible under any circumstances for investment actions taken by the reader. [ER] has never been, and is not currently, a registered or licensed financial advisor or broker/dealer, investment advisor, stockbroker, trader, money manager, compliance or legal officer, and does not perform market making activities. [ER] is not directly employed by any company, group, organization, party or person. The shares of NuLegacy Gold are highly speculative, not suitable for all investors. Readers understand and agree that investments in small cap stocks can result in a 100% loss of invested funds. It is assumed and agreed upon by readers that they will consult with their own licensed or registered financial advisors before making any investment decisions.

At the time this article was posted, NuLegacy Gold was an advertiser on [ER] and Peter Epstein owned shares in the Company.

Readers understand and agree that they must conduct their own due diligence above and beyond reading this article. While the author believes he’s diligent in screening out companies that, for any reasons whatsoever, are unattractive investment opportunities, he cannot guarantee that his efforts will (or have been) successful. [ER] is not responsible for any perceived, or actual, errors including, but not limited to, commentary, opinions, views, assumptions, reported facts and financial calculations, or for the completeness of this article or future content. [ER] is not expected or required to subsequently follow or cover events and news, or write about any particular company or topic. [ER] is not an expert in any company, industry sector or investment topic.

Streetwise Reports Disclosure:
1) Peter Epstein’s disclosures are listed above.
2) The following companies mentioned in the article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. Please click here for more information. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
3) Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.

4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of NuLegacy, a company mentioned in this article.

( Companies Mentioned: NUG:TSX.V; NULGF:OTCQB,
)

Confession time — I couldn’t find a darn thing “fun” relating to gold this week. Honestly, it wasn’t exactly a fun week to begin with unless you’re into political theater. In case you haven’t figured it out yet, I’m not.  We certainly had all the political theater we could ever want with the inauguration and […]

The post Blog first appeared on SchiffGold.

Joe Biden took the country’s wheel on Wednesday. For some, it was a day of celebration. And for some, it was a day of mourning, depending on your political perspective. But what is really in store for us in the Biden years? In this episode of the Friday Gold Wrap podcast, host Mike Maharrey considers […]

The post Blog first appeared on SchiffGold.

During testimony before the Senate Finance Committee, Treasury Secretary-nominee Janet Yellen talked out of both sides of her mouth. She acknowledged that too much debt is problematic, but in the same sentence, insisted we need to “act big” to rescue the economy. Neither the president-elect, nor I, propose this relief package without an appreciation for […]

The post Blog first appeared on SchiffGold.

Joe Biden was inaugurated on Jan. 20, becoming the 46th president of the United States. And as Peter Schiff put it in his podcast, he took the helm of a sinking ship. But the stock markets sure don’t act like the ship is taking on water. All four major stock indices closed at new record […]

The post Blog first appeared on SchiffGold.