Dynacor Gold Mines Inc is a Canada-based gold production corporation. It is engaged in production activity through its government approved ore processing operations. The company's operating segment is the mining sector, comprised of exploration, evaluation, and processing of mineral resources. It produces and explores various properties in Peru such as Tumipampa and Anta. The company currently operates the plant Veta Dorada. The firm generates revenue from the sales of precious metals derived from the ore processing operation.
Constantine Metal Resources CEO Garfield MacVeigh: Kicking Off Our US$18 Million Program at the Palmer Project
Constantine Metal Resources CEO Garfield MacVeigh stated, “We’re looking at five years to get us to feasibility.”
Constantine Metal Resources CEO Garfield MacVeigh: Kicking Off Our $18Million Program at Palmeryoutu.be
Constantine Metal Resources (TSXV:CEM) CEO Garfield MacVeigh discussed the company’s progress on its three key projects, beginning with the flagship Palmer project in Alaska, a copper-zinc-silver-gold-barite project.
"We have an US$18 million construction program this year," he said. "It will prepare us for underground exploration development next year, establish some of our hydrological system for water discharge and put a construction camp in place. Some ongoing exploration is also planned. We’re looking at five years to get us to feasibility.”
Speaking about Constantine Metal Resources’ second project, MacVeigh noted past discoveries of over 80,000 ounces of gold at the Porcupine Creek area, adjacent to its flagship Alaskan zone. "Big Nugget is in the very early stage. We've documented the historic showings, relocated them, resampled them and did a soil sampling survey that identified a really nice target — so it's ready to drill, but it's an early stage project."
Discussing the Hornet Creek property in Idaho, Macveigh noted, “It’s a (volcanogenic massive sulfide) project with a possible copper porphyry environment, very similar in age to Palmer. We have a real high comfort level — it looks like a very big zone. We're doing some compilation work right now to also put some federal permits in place. It would be nice to be able to do some of that drilling a little later in the year.”
The CEO also discussed the company as an investment opportunity. “We're a group that's made real greenfield discoveries at Palmer and built resources there that look like they have a good chance to be a mine. At the same time, we've been consistently able to identify other opportunities that have also led to value for our shareholders.”
Watch the full interview of Constantine Metal Resources CEO Garfield MacVeigh above.
Disclaimer: This interview is sponsored by Constantine Metal Resources (TSXV:CEM). This interview provides information which was sourced by the Investing News Network (INN) and approved by Constantine Metal Resources in order to help investors learn more about the company. Constantine Metal Resources is a client of INN. The company’s campaign fees pay for INN to create and update this interview.
INN does not provide investment advice and the information on this profile should not be considered a recommendation to buy or sell any security. INN does not endorse or recommend the business, products, services or securities of any company profiled.
The information contained here is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of securities. Readers should conduct their own research for all information publicly available concerning the company. Prior to making any investment decision, it is recommended that readers consult directly with Constantine Metal Resources and seek advice from a qualified investment advisor.
This interview may contain forward-looking statements including but not limited to comments regarding the timing and content of upcoming work programs, receipt of property titles, etc. Forward-looking statements address future events and conditions and therefore involve inherent risks and uncertainties. Actual results may differ materially from those currently anticipated in such statements. The issuer relies upon litigation protection for forward-looking statements. Investing in companies comes with uncertainties as market values can fluctuate.
Last week's top-gaining stocks on the TSXV were Tombill Mines, Scorpio Gold, Royal Fox, Cordoba Minerals and New Stratus.
The S&P/TSX Venture Composite Index (INDEXTSI:JX) was on the rise last Friday (May 20) morning following another volatile week that sent the junior index as low as 690.
Edging just above 700 after the morning bell on Friday, markets across North America found solace after China moved to support its economy with a cut to a key lending benchmark.
On the commodities side, values for West Texas Intermediate crude oil topped US$114 a barrel last Monday (May 16), while Brent crude touched US$115. Both types had consolidated mildly by Friday to hold in the US$112 range.
Gold spent the third week of May trending higher after slipping to a three month low of US$1,809.50 per ounce on May 13. By last Friday, the yellow metal was trading for US$1,834.
Improving investor sentiment helped the TSXV and other markets move into the green by the end of the week, despite concerns that a recession could still be around the corner.
“Even though modest, the deceleration in price pressures (in April) will come as a welcome development to policymakers,” Thomas Feltmate, senior economist at TD Economics, said in an FocusEconomics update.
Feltmate went on to highlight the precarious position that the US Federal Reserve is in as it tries to stimulate the economy while reining in inflation. “The (Federal Open Market Committee) has its work cut out ... over the remainder of the year, as they quickly move to swing the monetary pendulum from accommodative to outright restrictive in an effort to guide inflation back to target without causing a recession,” he said.
The five TSXV-listed mining stocks that saw the biggest rises last week are as follows:
- Tombill Mines (TSXV:TBLL)
- Scorpio Gold (TSXV:SGN)
- Royal Fox Gold (TSXV:FOXG)
- Cordoba Minerals (TSXV:CDB)
- New Stratus Energy (TSXV:NSE)
Here’s a look at those companies and the factors that moved their share prices last week.
1. Tombill Mines
Gold explorer Tombill Mines owns four claims groups, three of which are situated in the Geraldton gold district of North-Central Ontario. Tombill did not release any news last week; its last announcement was at the end of March, when it commenced a Phase IIa drilling program at the Geraldton camp.
Last week, Tombill saw its shares rise 100.68 percent to end the period at C$0.09.
2. Scorpio Gold
Nevada-focused Scorpio Gold holds a 100 percent interest in the consolidated Manhattan District in Nevada. The site includes the advanced exploration-stage Goldwedge property as well.
Scorpio did not make any public announcements last week. Company shares made a 70.24 percent gain, ending the five day period at C$0.08.
3. Royal Fox Gold
Exploration company Royal Fox Gold is developing the Philibert gold project near Chibougamau, Québec. Philibert consists of 110 mineral titles covering a total area of 5,393 hectares of “highly prospective ground.”
Last Wednesday (May 18), Royal Fox shared results from 12 drill holes completed as part of a 2022 campaign at Philibert. They tested the Red Fox zone over a 650 meter strike length and up to 400 meters vertical depth.
"The results announced today include meaningful grades and widths intersected at the Red Fox Zone at surface and at depth which continue to demonstrate continuity of the mineralization system along strike and down dip,” Simon Marcotte, president and CEO of Royal Fox, said in a statement.
He continued, “93 holes from the 2022 campaign remain pending and, as we continue to receive results, special attention is paid to the continuity of the mineralisation which matters even more than grade for a deposit of this nature.” By Friday, shares of Royal Fox were up 62.62 percent, trading for C$0.06.
4. Cordoba Minerals
Cordoba Minerals is a diversified company focused on the exploration, development and acquisition of copper and gold projects. Cordoba is presently developing its San Matias copper-gold-silver project in Colombia.
The last news the company released was at the end of April, when it confirmed a short-term loan of US$6 million from Ivanhoe Electric. Last week, shares of Cordoba added 47 percent to hold in the C$0.55 range.
5. New Stratus Energy
Focused on oil and gas development in Latin America through acquisitions, New Stratus Energy is targeting a production rate of over 50,000 barrels of oil equivalent per day within a three to five year timeframe.
New Stratus gave shareholders a corporate update on May 2, reporting a cash balance of C$17,277,485 as of March 31. Shares of New Stratus spent the third week of May gaining 45.26 percent to close at C$0.93.
Data for 5 Top Weekly TSXV Performers articles is retrieved each Friday at 10:30 a.m. EST using TradingView's stock screener. Only companies with market capitalizations greater than C$10 million prior to the week's gains are included. Companies within the non-energy minerals and energy minerals are considered.
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Securities Disclosure: I, Georgia Williams, hold no direct investment interest in any company mentioned in this article.
The securities of Kairos Minerals Limited (‘KAI’) will be placed in trading halt at the request of KAI, pending it releasing an announcement. Unless ASX decides otherwise, the securities will remain in trading halt until the earlier of the commencement of normal trading on Wednesday, 25 May 2022 or when the announcement is released to the market.
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Experts shared their thoughts on topics like market volatility, the US Federal Reserve and the gold price at this year's Vancouver Resource Investment Conference.
We're taking a break from our usual format this week so I can give you a recap of the Vancouver Resource Investment Conference (VRIC), which ran from May 17 to 18.
This is the first time VRIC has been live since January 2020, and it was my first in-person event since all the way back in March 2020 — it was definitely exciting to be back on the show floor having face-to-face conversations, and I'm excited to share our interviews with you over the next couple of weeks.
For now, let's talk about VRIC themes. Although it was clear attendees were glad to be off Zoom and back in the real world, there was a sense of sobriety given the current state of the broader markets.
Major indexes like the S&P 500 (INDEXSP:.INX) and the Dow Jones Industrial Average (INDEXDJX:.DJI) continued to tumble this week, with the former down about 18.5 percent year-to-date and the latter down around 14.5 percent.
Experts at the show had a variety of advice about handling this volatility, which you'll see as we start publishing our videos. Well-known contrarian Rick Rule of Rule Investment Media said he's proceeding with caution, but has a shopping list ready and "absolutely" sees today's circumstances as a buying opportunity.
On the flip side, Mercenary Geologist Mickey Fulp said he's focused on taking profits in the juniors when he can, and is seeking safety in assets like physical gold and farmland.
Another key topic was the US Federal Reserve. Unsurprisingly, the consensus at VRIC was that the central bank took much too long to act on inflation — now that it's begun raising rates, with two hikes in the cards so far, opinions are split on how far the Fed will get and what the consequences will be.
For her part, Danielle DiMartino Booth of Quill Intelligence said during a panel that she's happy to see Chair Jerome Powell returning to his more hawkish roots. She mentioned bankruptcies and junk bond spreads gapping out as signs that things are breaking, and she thinks Powell will keep going until "something big" cracks.
"We're watching things like today's activity in the stock market. We're watching junk bond spreads gap out, we're watching bankruptcies increase, we're watching sales decrease … something's going to break. And we're witnessing things breaking. I would postulate that (Powell is) going to keep going until something big breaks. That means something systemic, (something) major" — Danielle DiMartino Booth, Quill Intelligence
Of course, given everything going on in the world, one of the top questions at VRIC was why the gold price isn't higher. Although it spiked above US$2,000 per ounce earlier this year as the war between Russia and Ukraine broke out, it was down around US$1,845 at the time of this writing on Friday (May 20) afternoon.
Again, diverse answers were given about this, and you'll see them all come through in our content. For now, one thing I want to point out is that very few people expressed a bearish outlook on the yellow metal — although many think a higher price will take time, there seems to be little doubt that this will emerge moving forward.
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Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
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