NOTE: Not a recommendation to buy or sell stocks
The TFSA Letter Stock List is simply a list of stocks for a Tax Free Savings Account that could generate substantial capital gains. Stocks listed can be dropped or added back without notice depending on news flow and stock price changes. Information on the TFSA Letter Listed Stocks will be updated weekly.
Daily updates or news will be made on Twitter – @LetterTfsa
Stocks (Stock Price When Listed) Current Stock Price Update
Aftermath Silver – AAG ($.285) – $.30 – announced that it has reached an agreement to immediately retire the $1,075,000 balance of the $1,575,000 convertible debenture which was issued to Halo Labs Inc in October, 2019 in consideration of the acquisition of the 80-per-cent interest in the Cachinal silver-gold project (See AAG news release dated October 31, 2019). To retire the obligations under the debenture, Aftermath Silver will issue 4,000,000 common shares to Halo at the conversion price of 20 cents. Aftermath Silver is buying Halo’s shares in the Chilean holding company, Minera Cachinal SA, representing 80-per-cent ownership of the project. SSR Mining Inc. holds the remaining 20% interest.
Adamera Minerals – ADZ ($.04) – $.055 – reports the company is preparing for a June 1st start on its Washington State projects. Adamera in concert with its joint venture partner Hochschild Mining PLC (LON:HOC) are now in the process of hiring personnel and reviewing drill contracts. Adamera will work closely with Washington based employees, the community and Hochschild prior to launching the 2020 work program. Work will start with a deeper penetrating induced polarization survey on the Oversight, Goodfoot and Lamefoot properties. This will refine and prioritize targets for drilling.
1911 Gold – AUMB ($.26) – $.53 – reported the remaining results from the Phase I exploration drilling program at its 100% owned Rice Lake gold properties in Manitoba.
Macdonald Mines – BMK ($.11) – $.08 – announced that, with strict health protocols in place, it has resumed its 2020 drilling program after temporarily suspending operations due to COVID-19 at its SPJ Project, located 40 km east of Sudbury, Ontario. The Company remains well funded as the Spring 2020 exploration program continues. Results from 2 holes from the winter 2020 drilling program are still pending and will be released when they are received.
Cardinal Resources – CDV ($.275) – $.37 – Nord Gold is acquiring shares and tentative takeover bid with acquisition at average price of A$0.43798 per share, including 16.4% acquired from Gold Fields at A$0.45775 per share; non-binding Preliminary Proposal to acquire Cardinal Resources.
Quebec Precious Metals – CJC ($.25) – $.33 – reports the discovery of the La Pointe Extension following the winter diamond drilling program on the 100% owned Sakami Project in Quebec’s Eeyou Istchee James Bay territory. Significant additional drilling will be required to better define the exploration potential of this discovery. The La Pointe deposit and new La Pointe Extension discovery are part of a larger 13-kilometre-long mineralized trend on the Project striking SSW-NNE
Canada Nickel Company – CNC ($.51) – $1.23 – announced that it has closed its previously announced property transactions with Noble Mineral Exploration Inc. As part of the consideration for these transactions, Canada Nickel issued 500,000 common shares to Noble, which shares are subject to a four-month hold period under applicable securities laws.
Dore Copper – DCMC ($.85) – $.72 – announced that it has resumed drilling at its Cedar Bay property. The two drill holes that were in progress when drilling stopped on March 24th, have resumed without incident and no changes to the Cedar Bay drill program announced on January 6th, 2020 are anticipated. The program will test the 10-20 zone at the shaft level. The 10-20 zone consists of three parallel veins where previous drilling returned numerous high-grade gold and copper intercepts including 2.4 m grading 19.5 g/t Au and 1.67% Cu in hole CDR-18-02, and 2.4 m grading 15.4 g/t Au and 4.54% Cu in hole CDR-18-03. The drill program will also test the main Cedar Bay vein at depth.
Dios Exploration – DOS ($.095) – $.095 – announced the closing of a final tranche of a non-brokered private placement in the amount of $401,000 pursuant to which 4,010,000 flow-though common shares were issued at the price of $ 0.10 each. The net proceeds will be used for exploration work on Dios’ wholly-owned K2 property, which is adjacent in strike SW to Azimut Exploration inc.’s Elmer property in the James Bay region, Quebec. Work completed by Dios on K2 has delineated 3 km long WI target electromagnetic conductor and ATTILA gold-copper-silver prospect, which is southwest of Azimut Exploration’s Patwon gold discovery, bearing similarities in some host rocks (felsic intrusive), alterations and 3 networks of quartz veins.
Dolly Varden – DV ($.275) – $.42 – announced that the Company intends to undertake a private placement financing to raise gross proceeds of up to $4.5 million from the sale of up to 10 million common shares that qualify as “flow-through shares” as defined under the Income Tax Act (Canada) at a price of $0.45 per share. Continuing with his support of Dolly Varden, Mr. Eric Sprott is expected to subscribe for additional shares under the Offering to maintain his 19.9% interest.
Cartier Resources – ECR ($.15) – $.205 – announced a mineralised intersection of 20.8 g/t Au over 4.0 m included within 9.4 g/t Au over 11.0 m, also included within 6.7 g/t Au over 16.0 m, located 500 m below the new Zones 5B4-5M4-5NE in the East Sector of the Chimo Mine Property
Eloro Resources – ELO ($.37) – $.35 – announced it has completed a previously announced non-brokered private placement of 2,200,000 units of Eloro at a price of $0.25 per unit for gross proceeds of $550,000. Each Unit consists of one Common Share and one half of one Common Share purchase warrant. Each whole Warrant entitles the holder to purchase one Common Share at a price of $0.50 per share for a term of 18 months, expiring November 20, 2021 Placement.
FenixOro Gold – FENX ($.245) – announced the appointment of Mr. Stuart Moller, P. Geol. to the position of Vice President, Exploration. Mr. Moller is also a Director of the Company. Stuart Moller has 40 years’ experience in international mineral exploration and has held senior roles with Barrick Gold and Pan American Silver. As Vice President, Exploration with Continental Gold he led the discovery of the Buritica gold deposit which included drilling the first 270 holes and a significant high-grade gold discovery. The Buritica gold deposit is only 15km east of the FENX property.
Geomega Resources – GMA ($.16) – $.145 – announced that the Company has completed the retrofit of its pilot plant and has begun the production of hand sanitizer for the Québec market. As indicated in the April 20, 2020 press release, the Corporation obtained the natural product number and all the approvals from Health Canada in order to manufacture and distribute hand sanitizer using the WHO-recommended formulation. The modifications have now been completed and production has begun. The production is from the Corporation’s Pilot Plant and allows Geomega to produce up to 675 liters per week.
Angus Ventures – GUS ($.32) – $.65 – announced that it has closed the previously announced acquisition of 100% interest in the Ellen Creek Gold Property from an individual vendor and of 100% interest in River Gold Property from Metalcorp Limited.
Metals X – MLX (Australia) – A$.076 – A$.088 – announced that the coronavirus is yet to affect the Renison tin mine on Tasmania’s West Coast. There had been no cases within the workforce and no disruption of operations, critical supplies, product logistics or shipping, half-owner Metals X Limited said. “Business continuity and resilience plans are in place for any disruptions, which include prudent financial measures,” Metals X said in its March quarter report. It said it had implemented “substantial measures” to ensure safety of employees, contractors, suppliers and the community in response to the pandemic. They included: changes to site infrastructure to allow better cleaning; better cleaning at offices and workers’ villages; suspension of surface exploration; temperature screening before people were allowed to enter sites; personal declarations from all personnel entering sites; elimination of non-essential interstate travel by staff; and working from home whenever practical. The company said higher mined grade at Renison during the quarter led to a 5 per cent increase in tin in concentrate production. The Metals X half-share of Renison’s quarterly earnings before interest, tax, depreciation and amortisation totalled $3 million, while the company was hit by a net cash outflow of $1.5 million at the mine. It said that was due to spending on a metallurgy improvement program, mobile equipment rebuilds and a mining optimisation study of the high-grade Area 5. The optimisation study and an updated life of mine plan were expected to be completed in the current quarter, with Area 5 production due to start in the second half of 2020. Metals X said the metallurgical improvement program was starting to deliver increasing mill throughput rates and recoveries. The company had $26.3 million in cash and working capital at the end of March, plus a loan facility with Citibank with a balance of $33 million. The mine received an average realised tin price of $22,290 per tonne during the quarter, ahead of all-in sustaining cost of $20,747 per tonne produced. *Approximate cash price of tin currently AUS$23,707.16/t
Manitou Gold – MTU ($.045) – $.055 – announced initial results from its winter exploration program being conducted in the eastern Michipicoten gold belt, between the Island Gold mine and the past producing Renabie gold mine, north of Wawa, Ontario. Ongoing work includes approximately 1,600 meters of diamond drilling as well as airborne and ground geophysics. Ongoing drilling intersects wide, mineralized shear zone in first two holes drilled to date at the Company’s Patents property. This 70 metre shear zone (estimated true width of 50 meters) containing quartz veins displays broad similarities with ore bearing veins at the Island Gold Mine (assays pending).
NioBay Metals – NBY ($.30) – $.24 – announced new and significant high-grade intersections at the James Bay Niobium Project in Northern Ontario. The assay results for the remaining four drill holes are in-line with the previous three holes. In total, the Company completed seven drill holes for a total of 3,090 metres, and confirmed; The presence of a high-grade core raking north; Increasing width moving north of the deposit; Mineralization open at depth (deepest hole at 330 meters); Significant potential to further extend the known resource.
Verde AgriTech – NPK ($.455) – $.45 – announced its financial results for the first quarter ended March 31, 2020 (“Q1 2020”)… Revenue increased by 230% to $509,532, compared to $154,279 in Q1 2019; Production increased by 32% with a total of 6,375 tonnes, compared to 4,825 tonnes in Q1 2019; Sales increased by 830% with a total of 10,170 tonnes compared to 1,093 in Q1 2019; Net loss reduced by 9% to $792,195, compared to 872,506 in Q1 2019.
Outcrop Gold – OCG ($.185) – $.215 – provided an update on exploration and current drilling in progress at the Santa Ana high-grade silver-gold project located in Colombia. “It is very encouraging to see significant amounts of coarse vein-boulders on soil lines where veins were projected between workings. Whereas previously the El Dorado vein zone had been only projected – it is now clearly mappable where soil lines consistently encounter the mineralized vein-boulders”, comments Joseph Hebert, Chief Executive Officer. “And our first four holes at depth in La Ivana have all intercepted mineralization similar to that encountered in the phase one shallow drilling.”
Precipitate Gold – PRG ($.125) – $.155 – announced its new high priority exploration focus at its 100% owned Ponton project, located approximately 20 kilometres due east of the Company’s Pueblo Grande project in the Dominican Republic. Recent data compilation and interpretation of the Ponton property’s historical surface geochemical sampling (soil, rock and stream sediment) highlighted the project’s Copey Hill Zone as the region’s strongest multi-element geochemical anomaly (gold, silver, arsenic, mercury, antimony) which is likely reflective of a near surface epithermal gold system. The zone has never been drill tested and will be the focus of the Company’s near-term drill targeting plans.
Rockcliff – RCLF ($.07) – $.08 – announced the completion of its phase one drill program at the Company’s 100% owned Freebeth Property located in central Manitoba. The drill program was successful in locating and identifying the historical Last Hurrah Zone. The Freebeth Property is strategically located within trucking distance to the Company’s leased processing and tailings facility.
RJK Explorations – RJX.A ($.19) – $.19 – announced that the 273 kg kimberlite sample retrieved from the Kon Property has arrived at the CF Mineral Research Ltd. (CFM), an ISO 9001:2015 certified and 17025:2005 compliant laboratory and processing has started. The kimberlite indicator mineral report for the Bishop Paradis drill core, reported in RJK’s news release dated April 1 2020, has been uploaded to the company website
Scottie Resources – SCOT ($.185) – $.22 – announced that, due to strong investor demand, it has increased its previously announced non-brokered private placement offering to up to 14,583,333 flow-through common shares at a price of $0.24 per FT Share for gross proceeds of up to $3,500,000. The proceeds raised by the Company from the sale of the FT Shares will be used for exploration of the Company’s mineral properties, located in the Golden Triangle region of British Columbia.
Superior Gold – SGI ($.61) – $.73 – announced firs quarter highlights – Remained at full production whilst operating under COVID-19 restrictions; Produced 16,351 ounces of gold at a record average realized gold price of $1,570/oz; Sold 16,850 ounces of gold at total cash costs of $1,291 per ounce sold and all-in sustaining costs of $1,416 per ounce sold; Net loss for the period of $0.04 per share and adjusted net loss of $0.00 per share; Exploration results of up to 27.9 g Au/t over 4.10 metres continued to demonstrate the potential to expand mineralization at Plutonic with step out drill results between the Indian and Baltic Zones
Sun Metals – SUNM ($.225) – $.105 – announce that the non-brokered private placement financing (the “Private Placement”) previously announced on May 11, 2020 has been oversubscribed by 50%. Due to the high level of interest from investors, the Private Placement will now consist of 18,750,000 units at a price of $0.08 per unit (a “Unit”) for gross proceeds of $1,500,000. Each Unit consists of one common share of the Company (each, a “Common Share”) and one-half of one non-transferable Common Share purchase warrant (each whole warrant, a “Warrant”), with each Warrant exercisable to purchase one additional Common Share of the Company for a period of 2 years from the date of closing at an exercise price of $0.12 for the first 12 months following closing and an exercise price of $0.15 for the final 12 months of their term
**TAG Oil – TAO ($.05) – $.11 – $.30 cash was paid to shareholders on April 16th. Following the return of capital, the Company will retain ~C$15 million in cash along with the 2.5% gross overriding royalty on all future production from the New Zealand assets sold and up to US$4.5 million in future event specific payments payable on Tamarind Resources Pte. Ltd. achieving certain milestones. TAG will have enough capital to continue its business operations as currently operated for the foreseeable future.
American Pacific Mining – USGD ($.155) – $.36 – announced that it has closed its oversubscribed non-brokered private placement issuing a total of 23,918,035 units at CAD$0.125 per Unit for total gross proceeds of CAD$2,989,754.44.
VR Resources – VRR ($.35) – $.275 – has signed two non-binding Letters of Intent in order to evaluate new opportunities with the potential to strengthen its existing exploration strategies at its Ranoke copper-gold property in Ontario, and its Big Ten gold project in Nevada. Terms for the respective LOI’s are agreed upon and will be announced pending due process on executing final acquisition agreements. Both opportunities are blue-sky in nature relating to greenfields exploration, on large-footprint systems which lack modern, systematic exploration and drill-testing. To support its exploration strategy, the Company intends to complete a non-brokered private placement of up to 5,000,000 units at a price of $0.22 per Unit.
Zephyr Minerals – ZFR ($.24) – $.38 – announced that it has discovered the silver in historic drill holes GC-8 and GC-9 is hosted by the same rare silver mineral that is host to the silver at the Broken Hill and Cannington silver-lead-zinc mines in Australia, as well as a silver enriched variant
Group Eleven – ZNG ($.05) – $.05 – announced the closing of the first tranche of the non-brokered private placement with Glencore Canada Corporation through the issuance of 2,200,000 units at a price of $0.05 per unit for gross proceeds of $110,000. The remaining 12,800,000 units, to be closed in late June 2020, are subject to approval by shareholders of the Company at the Annual General and Special Meeting scheduled on June 22, 2020
OIL & GAS STOCKS
Severely depressed, question now is, who will survive? and when will the survivors COME BACK?
Stock – (Price When Listed) – Current Stock Price – Dividend Yld
Birchcliff Energy – BIR – ($2.32) – $1.38
CREW ENERGY – CR ($.31) – $.35
CENOVUS ENERGY – CVE ($3.86) – $5.91
NuVista Energy – NVA ($2.31) – $.87
Surge Energy – SGY ($1.14) – $.29
Torq Oil & Gas – TOG ($4.49) – $1.60
Tamarack Valley – TVE ($1.73) – $.79
Whitecap Resources – WCP ($5.55) – $2.14 8% Div
Yangarra Resources – YGR ($1.03) – $.54
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