Monday, April 15, 2019

Coeur Mining (CDE)

What Will It Take To Turn The Tide?

Coeur Mining Inc is a metals producer focused on mining precious minerals in the Americas. The company is involved on the discovery and mining of gold and silver, and generates the vast majority of revenue from the sale of these precious metals. The operating mines of company are palmarejo, rochester, wharf, and kensington.

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

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

• CDE reports first quarter
  2019 production results.  Coeur Mining reported lower than expected first
  quarter production of 78,336 ounces of gold, 2.5 million ounces of silver, 3.7
  million pounds of zinc and 3.1 million pounds of lead.  While management
  indicated that first quarter production met their expectations and maintained
  full year 2019 production guidance, the company may have some catching up to do
  in subsequent quarters.   
• Adjusting estimates.  We are lowering our first quarter estimate to roughly
  break-even per share, compared to our prior estimate of $0.02 per share. 
  Our full year 2019 EPS and EBITDA estimates have been lowered to $0.11 and
  $160.4 million, from $0.15 and $183.3 million.  We have also reduced our
  2020 EPS and EBI… 

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Thursday, April 11, 2019

Great Panther Silver (GPL)

What Was Behind Lower Than Expected Production Results?

Great Panther Silver Ltd is a precious metals mining and exploration company. It owns two mines Topia and Guanajuato Mine Complex (GMC). The Topia operations produce silver, gold, lead, and zinc whereas the GMC operation produces silver and gold.

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

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

• GPL reports first quarter production results.  In aggregate, first quarter production increased 6.7%
  to 14,860 gold equivalent ounces versus the prior year period and increased
  24.9% compared to the fourth quarter of 2018.  First quarter production
  was negatively impacted by lower production at the San Ignacio mine due to
  variability in vein widths and lower throughput at the mill that serves the
  Tucano mine.  Management expects to provide updated 2019 consolidated
  guidance when it reports first quarter 2019 financial results.
• Adjusting estimates.  Based on lower than expected production, we now
  forecast a first quarter loss of ($0.02) per share versus our prior estimate of
  ($0.01).  Our full year earnings 2019 earnings per share and EBI… 

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Wednesday, April 10, 2019

Aurania Resources Ltd. (ARU:CA)

Kirus Target Shows Its Colors.

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 full report for price target, fundamental analysis and rating.

• Another promising
  copper target.  High-grade copper and silver have been discovered in an
  area measuring 6 kilometers by 3 kilometers in the Kirus copper target
  area.  Exploration identified boulders in streams containing up to 11.9%
  copper with 166 grams per tonne of silver.  Follow-up exploration led to
  the discovery of outcrop with grades of up to 5.1% copper and 70 grams per
  tonne of silver.  This follows last week’s announcement by the company that
  high-grade copper and silver had been discovered at the Tsenken target, located
  ~6 kilometers from the Kirus target.
• More evidence
  supporting a cluster of copper porphyrys.  Both Tsenken and Kirus contain high-grade copper and
  silver in sedimentary rocks.  What is unique about these sediment-hosted
  targets is that they exhibit flat-lying copper and silver-bearing rock which
  would be relatively easy to drill.  However, both exhibit evidence of
  po…
  

  
  
  
  
  

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Wednesday, April 3, 2019

Aurania Resources Ltd. (ARU:CA)

Scratching the Surface?

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 full report for price target, fundamental analysis and rating.

• Tsenken evolves into a high-potential copper target.  High-grade copper and silver have been discovered over
  a nine-kilometer trend.  Recent grab samples from boulders in streams
  contain up to 7% copper with 70 grams per tonne of silver.  Recall that in
  January, Aurania reported that grab samples of rock in streams draining from
  the Tsenken-A porphyry target contained up to 9% copper with 185 grams per
  tonne of silver over three kilometers.
• Evidence points to a cluster of
  copper porphyrys.  Recent work appears to corroborate management’s earlier
  belief that rather than being one very large target area, Tsenken may be a
  cluster of porphyry bodies.  Rather than having one potential source of
  copper at Tsen…
  

  
  
  
  
  

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Wednesday, April 3, 2019

Prize Mining (PRZ:CA)

More To The Deal Than Meets the Eye.

Prize Mining Corp is a Canada based resource exploration company. It is primarily engaged in the business activity of acquiring and exploring resource properties in Canada. All the operations of the company are carried out in Canada. The organization is focused on Kena and Daylight Gold project which is located in the Nelson area of British Columbia, Canada. 

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

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

• Prize announces option
  agreement to acquire gold properties.  Prize Mining announced a performance-based option
  agreement with Denton Resources Inc., a private corporation, to acquire a 100%
  interest in 62 mineral claims comprising the Carscallan property near the town
  of Cochrane in northeastern Ontario, Canada.  The option agreement is
  contingent on approval by the TSX Venture Exchange (TSX-V).
• Performance-based
  payments require little up-front capital.  The option agreement requires little up-front capital and
  Prize has the option to move forward based on key predictors of success. 
  The initial capital out…
  

  
  
  
  
  

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Monday, April 1, 2019

Sierra Metals (SMTS)

What will drive expansion in 2019?

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. 

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

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

• Full year earnings modestly lower than expected.  Sierra Metals reported a fourth quarter loss of
  ($0.01) per share and full year earnings of $0.12 per share, compared to our
  respective per share estimates of $0.02 and $0.15.  The variance to our
  estimates was largely attributed to higher fourth quarter expenses, including
  taxes.  Fourth quarter and full year EBITDA were $15.3 million and $89.8
  million.
• Near-term expansions on the horizon.  Production capacity at Yauricocha is expected to
  increase from 3,150 tonnes per day to 3,600 tonnes per day in 2020, while
  capacity at Bolivar is expected to increase from 3,600 tonnes per day to 4,200
  tonnes per day by the fourth quarter of 2019.  Capacity at Cusi is
  expected to increase fro…
  

  
  
  
  
  

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Betting on The Future of Copper.

(Note: companies that could be impacted by the content of this article are listed at the base of the story (desktop version). This article uses third-party references to provide a bullish, bearish and balanced point of view; sources listed in the “Balanced” section) 

Copper is prized for its extensive applications, including
as a component in electronics and motor vehicles.  It is called Dr. Copper because it is often
viewed as a leading indicator of changes in the business cycle given its use in
many sectors of the economy.  Demand for
copper is poised to benefit from greater usage for electric vehicles,
communications and clean energy systems, such as solar thermal plants.  Bloomberg recently published an article
highlighting that more than a third of capital spending by a group of large
diversified miners is being dedicated to copper, up from 20% or less earlier in
the decade, to prepare for demand growth. 

Monday, March 25, 2019

Prize Mining (PRZ:CA)

Building a Future on Copper.

Prize Mining Corp is a Canada based resource exploration company. It is primarily engaged in the business activity of acquiring and exploring resource properties in Canada. All the operations of the company are carried out in Canada. The organization is focused on Kena and Daylight Gold project which is located in the Nelson area of British Columbia, Canada.

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

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

• Prize is largely a play
  on expanding global demand for copper.  While the Kena gold project is under strategic review,
  the Manto Negro project is where management is positioning itself to focus the
  greatest resources going forward in order to capitalize on expected growth in
  copper demand.
• Phase II drilling program
  at Manto Negro.  Management’s key objective at both projects has been
  to consolidate contiguous land packages to form district-scale projects and to
  build resources and reserves.  Phase I and II drilling programs have been
  completed at the Kena project and a Phase I drilling program has been completed
  at Manto Negro.  A Phase II program will entail drilling another 3,000 to
  5,000 meters in 2019 follow…
  

  
  
  
  
  

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Tuesday, March 19, 2019

Genie Energy Ltd. (GNE)

Successful Energy Marketer Is Set To Expand.

Genie Energy Ltd through its subsidiaries operates as a retail energy provider; and an oil and gas exploration company. It operates through three segments: Genie Retail Energy; Afek Oil and Gas, Ltd.; and Genie Oil and Gas. The company resells electricity and natural gas to residential and small business customers primarily in the Eastern and Midwestern United States and offers energy brokerage and advisory services.

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

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

• Genie Energy is a successful energy
  marketing company with operations in 14 states, DC and the UK.  Energy marketing is a competitive industry.  Genie
  has excelled as an energy marketer by paying close attention to weather and
  commodity volatility risk that has harmed other competitors.  Genie has
  become one of only a few energy marketers operating on a national scale.  
• Energy Marketing Is
  Expanding.  Genie is expanding retail marketing operations into Texas,
  Finland and Japan.  Genie plans to enter the Finish and Japanese markets
  following recent acquisitions.  We believe the expansion will greatly
  increase the firm’s custo…
  

  
  
  
  
  

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Wednesday, March 13, 2019

Energy Fuels (UUUU)

Focusing On Vanadium Until Uranium Markets Improve; Trump To The Rescue?

Energy Fuels Inc together with its subsidiary is engaged in the extraction and recovery of uranium properties in the United States. The company operates in two segments, ISR Uranium and Conventional Uranium. It conducts its ISR activities through its Nichols Ranch Project, located in northeast Wyoming.

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

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

• Fourth quarter and full
  year 2018 results.  Energy Fuels reported a 
  fourth quarter
   loss of $7.8
  million, or ($0.09) per share, and a full year loss of $25.4 million, or
  ($0.30) per share.  We had forecast a loss of $25.6 million, or ($0.30)
  per share.
• Updating estimates.  Based on modestly lower commodity price assumptions
  for uranium concentrate and vanadium, we have lowered our 2019 and 2020 EPS
  estimates to $0.03 and $0.12, from $0.05 and $0.15, respectively.  We have
  also assumed a slower ramp-up in vanadium production during the first quarter
  of 2019 to 200,000 pounds per month beginning in the second quarter.  Our
  2019 and 2020 EB…
  

  
  
  
  
  

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Monday, March 11, 2019

Aurania Resources Ltd. (ARU:CA)

With New Funding Secured, the Drill is Turning.

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 full report for price target, fundamental analysis and rating.  

• Drilling
  has commenced at Crunchy Hill.  Aurania began scout
  drilling at its first target, Crunchy Hill, on March 3^rd. 
  The plan is to drill 5 to 8 holes, with each hole taking 5 to 7 days to
  complete.  Drilling will follow on the company’s 10 other epithermal
  gold-silver targets.  Results will be released after several holes have
  been completed.  It generally takes a week to send samples to the
  laboratory and three weeks to receive results.
• Rights
  offering raised ~C$5.25 million.  Aurania Resources
  issued 1,946,172 new common shares associated with its recent rights
  offering.  The offering raised gross proceeds of ~C$5.25
  million.   Following the offering, there were 34,882,738 common
  shares outstanding.  Aurania intends to use the net proceeds to fund
  exploration, including scout drilling, payment of concession fees and gen…

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Monday, March 4, 2019

Great Panther Silver (GPL)

Fourth Quarter and Full Year 2018 Results In Line With Expectations.

Great Panther Silver
Ltd is a precious metals mining and exploration company. It owns two mines
Topia and Guanajuato Mine Complex (GMC). The Topia operations produce silver,
gold, lead, and zinc whereas the GMC operation produces silver and gold.

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

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

• GPL reports fourth quarter and full year 2018 results.  In line with our estimates, GPL reported a fourth
  quarter net loss of $3.6 million, or ($0.02) per share and a full year net loss
  of $10.0 million, or ($0.06) per share.  Great Panther generated fourth
  quarter and full year negative adjusted EBITDA of $3.3 million and $6.4
  million, respectively.
• Beadell Resources acquisition to close shortly.  With all shareholder and final court approvals received,
  management expects to close the acquisition on March 5th.  Based on GPL’s
  recent closing price, the company would have a pro forma market cap of ~$241
  million and an enterprise value of ~$252 million.  The company’s name will
  cha…
  
  
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How Will the Current M&A Frenzy in the Mining Industry Impact Investors?

(Note: related companies are at base of the story and all the
sources listed in the “Balanced” section)

On
February 25, Barrick Gold announced a hostile $17.8 billion bid for Newmont
Mining.  This follows Barrick’s purchase
of Randgold Resources which closed in January. 
Newmont is in the process of acquiring Goldcorp Inc. and Barrick’s offer
is contingent on Newmont abandoning its plans to acquire Goldcorp.  These transactions follow several other
recent transactions in the mining space. 
Will there be more consolidation and what are the implications for precious
metals investors?