Liam’s Monday Morning Coffee Break (29-6-20)

Featured Image: Faithful rock-hound Sitka out in the field after a long winter's wait with the Mountain Boy Minerals team.

We had an awesome final heat in our ‘King of the (Junior Mining) Ring’ tournament with Prospech Limited sneaking past the competition by just two votes, with a tie for second place! Catch up here if you missed it and register for our final showdown for the Spotlight Mining E-Trophy between Excellon Resources, Solgold, Regulus Resources, Prospech Limited, Scottie Resources and Minera Alamos on July 9th at:

Hi there Mining friends!

Last week was overshadowed by a superb run at Great Bear up to $18, I’m not sure why, but I haven’t really engaged in their story since early 2019 and I’ll probably live to regret that! Chris and the team worked hard so, congrats to them and everybody else who got in early, now drowning themselves in Champagne and fixing an early retirement! This superb news reinvigorated a tired market and pulled along a few other resource developers as people got into ‘dreamer’ mode and started positioning for 10 bags again. The summer’s novelty money is now in play. AMEX went 60% up to a €1.68 peak as clear favourites to follow GBR’s footsteps (now €1.60).

It was a great week for Spotlight’s partners too, although the news may have been buried in the haze of GBR celebration! Here’s a recap:

The superstars of the week for me were Riverside Resources which went largely unnoticed with only a 5% gain (in Germany). Their first announcement confirmed their ongoing partnership with BHP and secured $780k to continue their copper exploration work in Mexico. The second was the optioning of Los Cuarentas to Hochschild Mining. Both deals prove RRi’s long-term outlook and determination not to dilute their shareholders.

While the short-term cash for optioning was negligible, the long-term buy in agreements and cash prove RRI really believe in the project’s potential and secure several million and an NSR for shareholders. As somebody who prefers to remain lazy and trust in boards to develop companies long-term (rather than having to hop in and out on erratic moves constantly), I was a happy owner reading both releases. RRI have just returned from the field around their newer properties in Ontario and we’re hoping for some nice news there as they seek further partnerships to develop past producers and licences bordering known deposits. I think RRI are one of the best priced companies out there for anybody looking for an established ‘project generator’. Unlike many newcomers, they’re fully funded and have a huge property bank. I’ll be adding more to my monthly buys and continuing support for John-Mark and their team! (Review NR)

James Anderson at Vangold laid more chips down and continued to prove he’s serious about developing El Pinguico. After initiating a 1000t bulk sample in his first season at the helm, his team have now started clearing lower levels of the historic mine near Guanajuato in Mexico. It is believed these lower backfilled adits and shafts hold higher grade ore and will bring up the overall grade of their historic stockpiles significantly when they hit production. In a few short months, VGLD has raised, executed warrants early, completed major sampling and now begun clearing shafts for development. Find me any other project with this level of newsflow that all points to cashflow and corporate sustainability, not just random high-grade hits and drilling. This one has gained a huge Twitterati following and looks set to keep surpassing expectations.

Mountain Boy Minerals are back in the field! Following consultations internally about the safety of their team and host communities, MTB have decided to remain socially distant in the town of Stewart in BC, with only their VPX Lucia and QP Andrew (who had already quarantined together) in the field at this stage. This convenient quarantining arrangement means MTB have beaten most other explorers and begin early work at American Creek as in their May 27th NR. Much of their lower ground is accessible by 4x4 so, their campaign is off to a flying start.

The significance of MTBs projects is slightly cloudy, because there are a lot of them and real focus has only really come around this year. A few key points:

  • Accessible precious and base metal projects in an area where most are 100% helicopter supported
  • Past production and proven high-grade zones of gold and silver
  • Novelty (2kg/t) high-grade silver intercepts in historic drilling
  • American Creek borders Ascot’s Premier project with similar host rocks that could potentially feed Ascot’s mills when Premier re-opens (an exceptional buy-target for AOT?)
  • A reinvigorated team who are serious about making 2020 their year in the limelight.

I have visited several of MTB’s properties and the rocks are there, this is not just another throwaway Golden Triangle Story. I am personally predicting a wild summer for MTB so, maybe now is the perfect time to join their story? They have a well priced PP open for drilling at American Creek later in the season and I personally believe it’ll come out as one of the biggest BC stories this year.

Also of note this week:

  • MINEX Europe will run online on July 1st and 2nd - See full info HERE
  • Canada Nickel hit 0.42% Nickel over 306m - NR
  • AMEX hit 28.97g/t Au over 5.6m as drilling continues at Perron - NR
  • Great Thunder add 76 new claims to ‘Southern Star’ property in Quebec - PDF
  • Excellon receive drill permits in Germany for my favourite project in the world: NR

Wishing all a wonderful week from Spotlight HQ in Vienna,

Spotlight Mining

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Liam Hardy View posts by Liam Hardy

With a family background in African mining exploration and a degree in geology, Liam brings a mix of technical ‘on-the-ground’ ore hunting and suit-booted office experience to the team. Liam worked in Liberia with Hummingbird Resources and spent 4 years as a geochemical analyst, before focusing on streamlining communications and development in exploration businesses, through the founding of ‘Spotlight Mining’.