Tales from the Covid Bunker: Day 13

Featured Image: Historic workings at the Vangold 'Il Pinguico' project in Mexico


End of the world jukebox: Fred Rice, curator of the Canadian Miners Club, has stepped up to the plate and dialled in a cheerful number featuring Jimmy Fallon and a surprise guest on the NY subway.


Good Afternoon to all friends around the globe!

From the bunker, this is officially the penultimate day of our quarantine although, because some absolute fools on the surrounding planet have been frolicking about and spreading themselves liberally, I don’t think we’ll be able to leave anytime soon. The border shows no signs of opening. We’re supposed to be moving into our new apartment in Vienna next week and it looks like we’ll have to pay rent twice in the chaos and stay here.

Worry not though, because The Bell in my home town are doing take-away food and £1/pint deals through their front window (to ensure social distancing laws are met), to empty the barrels and stores so... You can fill up a few bottles on the cheap from the draft and get yourself home to a pickled evening with Father Ted.

BIG NEWS: Our first E-Conference event will be tomorrow and features Mundoro Capital, Riverside resources and Mountain Boy Minerals - Prompt start at 09:00 PST (16:00 GMT). Register HERE

Junior mining rambles:
Today I sold off my Gold Mining Inc. ($GOLD) shares after discovering a note in their January 21st NR announcing an online media partnership costing $8500/month ($102k/year). Having done a little digging through the company’s social media and online offerings, there’s probably about 2 hours’ worth of work gone into what has been delivered for 2020. As I also manage a lot of social media platforms for mining companies, I know how long it took these guys to post 1 tweet during the whole of March and it should not be costing shareholders $8500/month so, I am no longer a shareholder and we won’t be covering them again without some changes being made.

I’m a big believer that intense and active social media and online engagement can bring benefits and returns for companies and should certainly be paid for at suitable rates, relative to the time put in and returns for companies.

I’m a bigger believer that companies should be cracking whips with their service providers to deliver what’s being paid for. If there’s no control over the online marketing, how can we trust there’s control on spending on the drill rig, or any other service…? Personally, I've stopped invoicing on projects where I don't have enough content or time to deliver any worthwhile returns.

Along the same line of appropriate pricing…
I received an email from ValOre (TSXv: VO) this week asking if I’d give them some free coverage because: “With the current market conditions we are looking to preserve capital”. No sh*t, but what makes you think that your capital or time, as a $6.7m market cap and part of a major exploration group, is more valuable than ours as a small newsletter and production company?

The marketing game has swings and roundabouts that need to be played to make sure everybody is comfortable and pays their rent. Effectively, all of our coverage is down to me and our writers to control and, while we accept sponsorship to produce videos, write articles and do more research to share with you, we only do this with companies that we also believe in and know personally. With Riverside, Mundoro and Vangold (who currently and kindly sponsor our newsletter), I was covering them all through personal interest, before they joined us!

I’m lucky to know several of the Discovery Group team and have found them all to be superb at haggling for appropriate (respectful) prices and paying their invoices quickly. I wouldn’t hesitate to support Jim and their projects again and I’m sure there’s scope to build something here.

So, here is my absolutely rumour-generated and ill-informed overview of ValOre, based on 3 google searches and no further research (free) as requested:

Not only is it on fire, Brazil is an absolute nightmare right now with social and environmental catastrophes left, right and centre. Their government’s recent endorsement of a far-right anti-democratic movement should clang alarms from a human rights perspective and land-ownership issues are being bulldozered from indigenous groups without thought or care.

I believe there are some solid operators in the exploration arena there, Alan Carter at Cabral, for example, has worked hard and built a respectable project which I’ve been following; but, on the whole, it’s a moral minefield that will require too much effort, at this stage, to avoid the all-seeing attention of the greenpeace/amnesty crowd.

Based on a fourth quick google, Nunavut was rejected as a uranium destination in 2017 by regional committees and majors pulled out.

Quick thoughts: there are better and more accessible projects across Canada, why would we fight against the tide to build more where they may not be wanted? I prefer Appia Energy with their REE kicker?

The stage is set and I invite ValOre to a live streamed debate, should they want to continue this discussion!

Into the Bunker: Cole Evans from Spotlight Mining talks about spending 137 days in the field last year and why he believes in CLM's projects.


Wednesday Nuggets:

  • Globex Mining purchase Lac Fortuna Mine in Quebec - News Release
  • Der Goldreport have shared thoughts on the market - Hannes and Christian have a very long record of writing the right things at the right times, definitely worth a read - HERE (German)
  • KORE Mining identify new drill targets at Long Valley in California - News Release

The apocalypse can now begin. We have officially run out of Manhatten fudge ice cream. Thanks everybody, for your supportive messages, tweets and mentions during this tough time. I’m here if anybody is bored or needs a chat. I literally have nowhere better to be!

Have another day,

Liam
Spotlight Mining

'Tales from the Covid Bunker' is sposored by Vangold Mining Corp.
Vangold Mining are an exploration company engaged in the exploration of mineral projects in the Guanajuato region of central Mexico. The Company’s flagship El Pinguico project is a significant past producer of high-grade gold and silver and is located just 7km south of the city of Guanajuato, Mexico. The Company remains focused on the near-term potential for development and monetization of both its surface and underground stockpiles of mineralized material from El Pinguico.

'Tales from the Covid Bunker' is sposored by Mundoro Capital Partners.
Mundoro (TSXv : MUN) are a Canadian mineral exploration and development company focused on building value for its shareholders through directly investing in mineral projects that have the ability to generate future returns for shareholders. The Company hold a portfolio of projects in Serbia and Bulgaria as well as an investment in a producing gold mine in Bulgaria. There are eight licenses in Serbia, four of which are optioned to JOGMEC, two licenses are optioned to Freeport-McMoRan Exploration Corporation and two licenses are available for joint venture.  In Bulgaria, Mundoro has formed a Generative Alliance with JOGMEC.

'Tales from the Covid Bunker' is sposored by Riverside Resources Inc.
Riverside are a well-funded exploration company driven by value generation and discovery. The Company has no debt and approximately 63M shares outstanding with a strong portfolio of gold-silver and copper assets in North America. Riverside has extensive experience and knowledge operating in Canada and Mexico and leverages its large database to generate a portfolio of prospective mineral properties. The Company strives to diversify risk by securing joint-venture and spin-out partnerships to advance multiple assets simultaneously and create more chances for discovery. Riverside has additional properties available for option, with more information available on the Company's website at www.rivres.com.

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Spotlight Mining share and produce articles of interest for companies in the junior mining and tech sectors. While we’re keen observers, we are not financial advisors, in fact we’re not even very good investors ourselves. We encourage you to do your own due diligence and seekprofessional advice on the risks, before investing any funds. Only ever invest what you can afford to lose.