Category: Natural Resources

Research newrange gold corp nrg ca striking gold with district scale projects in nevada and the red lake region of ontario

Posted on by Admin

Friday, February 14, 2020

Newrange Gold Corp (NRG:CA)

Striking Gold with District-Scale Projects in Nevada and the Red Lake Region of Ontario

Newrange Gold Corp is an exploration stage company focused on acquiring and exploring exploration and evaluation assets in Colombia and the United States. The Company operates in a single reportable operating segment-the acquisition, exploration, and development of mineral properties. Some of the projects acquired by the company are Pamlico gold project in Nevada and Rocky mountain project in Colorado. The company also holds an interest in the Yarumalito property, El Dovio property and Anori property in Colombia.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initiating coverage with an Outperform rating. We are initiating coverage of Newrange Gold Corp. with an investment rating of Outperform and a price target of C$0.25 per share. In our view, the equity offers investors exposure to an early-stage exploration mining company with significant gold and silver discovery potential.

Pamlico and North Birch projects represent significant upside for investors. The Pamlico project, located in Nevada, represents a unique opportunity to explore and develop a district-scale gold deposit in multiple target areas across the property. While the company recently optioned its North Birch project, located in the Red Lake region of Ontario, Canada, we view the property as a hidden gem as its potential remains to be unlocked with the…



Get the full report on Channelchek desktop.

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research – InPlay Oil (IPO:CA) – Canadian Producer Is Growing Through The Drill Bit, Even In a Low-Price Environment

Posted on by Admin

Tuesday, February 11, 2020

InPlay Oil (IPO:CA)

Canadian Producer Is Growing Through The Drill Bit, Even In a Low-Price Environment

InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Cardium play in western Canada offer attractive returns even at current prices. InPlay generates positive operating cash flow sufficient to fund an active drilling program. Its debt levels are modest for a company of its size (net debt of $52 million) and its liquidity is adequate ($75 million credit facility).

Growing production in a challenging environment. Production grew 22% in 2018 and 7% in 2019 despite the sale of assets and a reduction in capital investments. Management projects growth of 6-10% in 2020. The company has regularly replaced 150% of its…


Get the full report on Channelchek desktop.

This Company Sponored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research inplay oil ipo ca canadian producer is growing through the drill bit even in a low price environment

Posted on by Admin

Tuesday, February 11, 2020

InPlay Oil (IPO:CA)

Canadian Producer Is Growing Through The Drill Bit, Even In a Low-Price Environment

InPlay Oil is a junior oil and gas exploration and production company with operations in Alberta focused on light oil production. The company operates long-lived, low-decline properties with drilling development and enhanced oil recovery potential as well as undeveloped lands with exploration possibilities. The common shares of InPlay trade on the Toronto Stock Exchange under the symbol IPO and the OTCQZ Exchange under the symbol IPOOF.

Michael Heim, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Cardium play in western Canada offer attractive returns even at current prices. InPlay generates positive operating cash flow sufficient to fund an active drilling program. Its debt levels are modest for a company of its size (net debt of $52 million) and its liquidity is adequate ($75 million credit facility).

Growing production in a challenging environment. Production grew 22% in 2018 and 7% in 2019 despite the sale of assets and a reduction in capital investments. Management projects growth of 6-10% in 2020. The company has regularly replaced 150% of its…


Get the full report on Channelchek desktop.

This Company Sponored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research – Gevo, Inc. (GEVO) – Good to be Green – Initiating Coverage with OUTPERFORM Rating

Posted on by Admin

Thursday, February 6, 2020

Gevo, Inc. (GEVO)

Good to be Green – Initiating Coverage

Gevo Inc is a renewable chemicals and biofuels company engaged in the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. Its operating segments are the Gevo segment and the Gevo Development/Agri-Energy segment. By its segments, it is involved in research and development activities related to the future production of isobutanol, including the development of its biocatalysts, the production and sale of biojet fuel, its Retrofit process and the next generation of chemicals and biofuels that will be based on its isobutanol technology. Gevo Development/Agri-Energy is the key revenue generating segment which involves the operation of the Luverne Facility and production of ethanol, isobutanol and related products.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Large market opportunity for low carbon renewable fuels. Visible plan to execute. Attractive proprietary concept geared toward production of low carbon renewable transportation fuels. There is a clear fairway to producing ethanol with a lower carbon footprint and shifting toward renewable transportation fuels with lower carbon footprints. The first two phases have defined targets.

Solid progress to date on Phase 1 and shift toward low carbon ethanol under way. he startup of wind energy and the move toward renewable natural gas (RNG) production are significant marks of progress on Phase 1. Recent contract with…



Get the full report on Channelchek desktop.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research gevo inc- gevo good to be green initiating coverage with outperform rating

Posted on by Admin

Thursday, February 6, 2020

Gevo, Inc. (GEVO)

Good to be Green – Initiating Coverage

Gevo Inc is a renewable chemicals and biofuels company engaged in the development and commercialization of alternatives to petroleum-based products based on isobutanol produced from renewable feedstocks. Its operating segments are the Gevo segment and the Gevo Development/Agri-Energy segment. By its segments, it is involved in research and development activities related to the future production of isobutanol, including the development of its biocatalysts, the production and sale of biojet fuel, its Retrofit process and the next generation of chemicals and biofuels that will be based on its isobutanol technology. Gevo Development/Agri-Energy is the key revenue generating segment which involves the operation of the Luverne Facility and production of ethanol, isobutanol and related products.

Poe Fratt, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Large market opportunity for low carbon renewable fuels. Visible plan to execute. Attractive proprietary concept geared toward production of low carbon renewable transportation fuels. There is a clear fairway to producing ethanol with a lower carbon footprint and shifting toward renewable transportation fuels with lower carbon footprints. The first two phases have defined targets.

Solid progress to date on Phase 1 and shift toward low carbon ethanol under way. he startup of wind energy and the move toward renewable natural gas (RNG) production are significant marks of progress on Phase 1. Recent contract with…



Get the full report on Channelchek desktop.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research – Endeavour Silver (EXK) – Lowering Estimates to Reflect 2020 Production Guidance

Posted on by Admin

Tuesday, February 04, 2020

Endeavor Silver (EXK)

Lowering Estimates to Reflect 2020 Production Guidance

Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation. It is also involved in exploration activities in Chile. The company is organized into three operating mining segments, Guanacevi, Bolanitos and El Cubo, which are located in Mexico as well as Exploration and Corporate segments. The Exploration segment consists of projects in the exploration and evaluation phases in Mexico and Chile.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2020 production guidance. Endeavour forecasts silver production in the range of 3.0 million to 3.5 million ounces and gold production in the range of 38,000 to 44,000 ounces. In 2019, Endeavour produced 4.0 million ounces of silver and 38,907 ounces of gold. While 2020 silver production is expected to decline relative to 2019, management expects better operating and cost performance from Guanacevi and Bolanitos. On a silver equivalent basis, EXK expects to produce between 6.0 million and 7.0 million ounces compared to 7.1 million ounces in 2019.

Updating estimates. While we are making no changes to our 2019 estimates, we have revised our 2020 EPS and EBITDA estimates to $0.04 and $31.7 million from $0.08 and…



Get the full report on Channelchek desktop.

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research endeavour silver exk lowering estimates to reflect 2020 production guidance

Posted on by Admin

Tuesday, February 04, 2020

Endeavor Silver (EXK)

Lowering Estimates to Reflect 2020 Production Guidance

Endeavour Silver Corp is a precious metal mining company. The company is primarily engaged in silver mining and owns three high-grade, underground, silver-gold mines in Mexico. Its other business activities include acquisition, exploration, development, extraction, processing, refining and reclamation. It is also involved in exploration activities in Chile. The company is organized into three operating mining segments, Guanacevi, Bolanitos and El Cubo, which are located in Mexico as well as Exploration and Corporate segments. The Exploration segment consists of projects in the exploration and evaluation phases in Mexico and Chile.

Mark Reichman, Senior Research Analyst of Natural Resources, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

2020 production guidance. Endeavour forecasts silver production in the range of 3.0 million to 3.5 million ounces and gold production in the range of 38,000 to 44,000 ounces. In 2019, Endeavour produced 4.0 million ounces of silver and 38,907 ounces of gold. While 2020 silver production is expected to decline relative to 2019, management expects better operating and cost performance from Guanacevi and Bolanitos. On a silver equivalent basis, EXK expects to produce between 6.0 million and 7.0 million ounces compared to 7.1 million ounces in 2019.

Updating estimates. While we are making no changes to our 2019 estimates, we have revised our 2020 EPS and EBITDA estimates to $0.04 and $31.7 million from $0.08 and…



Get the full report on Channelchek desktop.

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research – Aurania Resources Ltd. (ARU:CA) – Initial Results Inform and Refine Direction of Drilling

Posted on by Admin

Friday, January 31, 2020

Aurania Resources Ltd. (ARU:CA)

Initial Results Inform and Refine Direction of Drilling

Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initial assay results yield more information than gold. Six drill holes, representing approximately 2,500 meters of drilling, have been completed on the first three of four targets at Yawi. Assay results received for the first four holes indicated no significant gold or silver was intersected. Findings are being used to refine…

Aurania applies for mineral concessions in Peru. Aurania recently applied for mineral concessions in northern Peru. The applications are associated with the company’s non-refundable but transferable advance of C$2.4 million to acquire additional mineral property interests disclosed in third quarter 2019 financial reports. We believe the property interests encompass portions of the mineral belt that extend from…    



Get the full report on Channelchek desktop.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research aurania resources ltd- aru ca initial results inform and refine direction of drilling

Posted on by Admin

Friday, January 31, 2020

Aurania Resources Ltd. (ARU:CA)

Initial Results Inform and Refine Direction of Drilling

Aurania Resources Ltd. is a Canada-based junior mining exploration company engaged in the identification, evaluation, acquisition, and exploration of mineral property interests, with a focus on precious metals and copper. Its flagship asset, The Lost Cities-Cutucu Project, is in southeastern Ecuador in the Province of Morona-Santiago. The company also has several minor projects in Switzerland.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Initial assay results yield more information than gold. Six drill holes, representing approximately 2,500 meters of drilling, have been completed on the first three of four targets at Yawi. Assay results received for the first four holes indicated no significant gold or silver was intersected. Findings are being used to refine…

Aurania applies for mineral concessions in Peru. Aurania recently applied for mineral concessions in northern Peru. The applications are associated with the company’s non-refundable but transferable advance of C$2.4 million to acquire additional mineral property interests disclosed in third quarter 2019 financial reports. We believe the property interests encompass portions of the mineral belt that extend from…    



Get the full report on Channelchek desktop.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research – Great Panther Mining Limited (GPL) – Exploration Activity in Mexico Carries Momentum into 2020

Posted on by Admin

Wednesday, January 29, 2020

Great Panther Mining Limited (GPL)

Exploration Activity in Mexico Carries Momentum into 2020

Great Panther Mining Limited, headquartered in Vancouver, Canada, is a precious metals mining and exploration company that operates three mines. These include: 1) the Tucano gold mine in Amapa State, Brazil, 2) the Guanajuato mine complex which includes the Guanajuato and San Ignacio mines in Mexico, and 3) the Topia mine in Mexico. Great Panther also owns the Coricancha Mine in Peru, which is expected to restart operations in 2020. The shares are traded under the ticker “GPR” on the Toronto Stock Exchange and under the ticker “GPL” on the NYSE American.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Investing in Mexico. While attention in 2019 largely focused on the company’s Tucano mine in Brazil, Great Panther executed a successful exploration program in Mexico that set the stage for 2020. Following 21,711 meters of drilling in 2019, the company has allocated $4 million to fund exploration in Mexico in 2020, focused mainly on the Guanajuato and San Ignacio mines. The 2020 drilling program calls for 14,400 meters of drilling at the Guanajuato mine, up to 8,500 meters of drilling at the San Ignacio mine and 2,500 meters at Topia.

Guanajuato mine could resume production in 2020. At the beginning of 2019, production was suspended at the Guanajuato mine in order to focus on exploration for higher grade resources. Three rigs completed 8,832 meters of drilling in 126 holes and…


Get the full report on Channelchek desktop.

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research great panther mining limited gpl exploration activity in mexico carries momentum into 2020

Posted on by Admin

Wednesday, January 29, 2020

Great Panther Mining Limited (GPL)

Exploration Activity in Mexico Carries Momentum into 2020

Great Panther Mining Limited, headquartered in Vancouver, Canada, is a precious metals mining and exploration company that operates three mines. These include: 1) the Tucano gold mine in Amapa State, Brazil, 2) the Guanajuato mine complex which includes the Guanajuato and San Ignacio mines in Mexico, and 3) the Topia mine in Mexico. Great Panther also owns the Coricancha Mine in Peru, which is expected to restart operations in 2020. The shares are traded under the ticker “GPR” on the Toronto Stock Exchange and under the ticker “GPL” on the NYSE American.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

Investing in Mexico. While attention in 2019 largely focused on the company’s Tucano mine in Brazil, Great Panther executed a successful exploration program in Mexico that set the stage for 2020. Following 21,711 meters of drilling in 2019, the company has allocated $4 million to fund exploration in Mexico in 2020, focused mainly on the Guanajuato and San Ignacio mines. The 2020 drilling program calls for 14,400 meters of drilling at the Guanajuato mine, up to 8,500 meters of drilling at the San Ignacio mine and 2,500 meters at Topia.

Guanajuato mine could resume production in 2020. At the beginning of 2019, production was suspended at the Guanajuato mine in order to focus on exploration for higher grade resources. Three rigs completed 8,832 meters of drilling in 126 holes and…


Get the full report on Channelchek desktop.

This research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research – Sierra Metals (SMTS): Fourth Quarter Production Results In Line with Expectations

Posted on by Admin

Friday, January 24, 2020

Sierra Metals (SMTS)

Fourth Quarter Production Results In Line with Expectations

Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

SMTS reports fourth quarter production results. Compared with the prior year period, fourth quarter production of gold increased 69.2% to 3,615 ounces, silver increased 24.3% to 871 thousand ounces, lead production increased 24.9% to 9.9 million pounds, copper production increased 26.6% to 11.3 million pounds and

2020 Guidance.  At the midpoints of 2020 production guidance, Sierra expects 14.0%, 20.7% and 31.2% increases in silver, copper and zinc equivalent production relative to 2019. Production capacity is expected to increase from 8,350 tonnes per day at year-end 2019 to 9,500 tonnes per day by year-end 2020 and…


Get the full report on Channelchek desktop.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision. 

Research sierra metals smts fourth quarter production results in line with expectations

Posted on by Admin

Friday, January 24, 2020

Sierra Metals (SMTS)

Fourth Quarter Production Results In Line with Expectations

Sierra Metals Inc is a precious and base metals producer in Latin America. The company acquires, explores, extracts, and produces mineral concentrates consisting of silver, copper, lead, zinc and gold in Mexico and Peru. Its activity includes the operation of the Yauricocha Mine in Peru, and the Bolivar and Cusi mines in Mexico. Yauricocha is an underground polymetallic mine using the sublevel block caving and cut-and-fill mining methods. Bolivar is a copper-silver-zinc-gold underground mine using room-and-pillar mining method. The majority of the revenue is earned by selling of the mineral concentrates to its customers in Peru.

Mark Reichman, Senior Research Analyst, Noble Capital Markets, Inc.

Refer to the full report for the price target, fundamental analysis, and rating.

SMTS reports fourth quarter production results. Compared with the prior year period, fourth quarter production of gold increased 69.2% to 3,615 ounces, silver increased 24.3% to 871 thousand ounces, lead production increased 24.9% to 9.9 million pounds, copper production increased 26.6% to 11.3 million pounds and

2020 Guidance.  At the midpoints of 2020 production guidance, Sierra expects 14.0%, 20.7% and 31.2% increases in silver, copper and zinc equivalent production relative to 2019. Production capacity is expected to increase from 8,350 tonnes per day at year-end 2019 to 9,500 tonnes per day by year-end 2020 and…


Get the full report on Channelchek desktop.

This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).

*Analyst
certification and important disclosures included in the full report. 
NOTE: investment decisions should not be based upon the content of
this research summary.  Proper due diligence is required before
making any investment decision.