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) – $.21 – announced that in strictly adhering to Canadian and Chilean Government directives and other recommendations to mitigate the spread and transmission of COVID-19, the Company cannot currently mobilize people or equipment to the Cachinal and Challacollo Silver Projects in Northern Chile. Planning has however continued and the scope of the Phase 1 programs at both projects has been finalised. In the first week of March, prior to the escalation of COVID-19 in Canada and Chile, the Company conducted site visits at both Cachinal and Challacollo. The objective was to finalise the location of the planned drill sites and advance other planning
Adamera Minerals – ADZ ($.04) – $.03 – announced an update on its upcoming exploration program. Plans to start deeper penetrating induced polarization (IP) surveying at the beginning of April will be pushed back temporarily due to concerns related to the Covid-19 pandemic. Hochschild Mining PLC (LON: HOC) and Adamera will use this time to refine existing drill targets and to review bids from drilling contractors.
1911 Gold – AUMB ($.26) – $.36 – announced that it has implemented plans to minimize, to the extent possible, the risks to it’s employees, the business and the communities within which it operates from the coronavirus disease (COVID-19) outbreak. To date, there have been no known or suspected cases of COVID-19 reported at the Company’s True North operations in Bissett, Manitoba.
Macdonald Mines – BMK ($.11) – $.075 – announced that the high-grade gold results for hole SM-20-026, announced on February 27, 2020, were confirmed by analyses at a second laboratory. New results reported 464.4 g/t gold over 2.96 metres including 26.3 g/t gold over 1.07 metres, 274 g/t gold over 0.93 metres and 1,137 g/t gold over 0.96 metres. The previous assays reported 376.6 g/t gold over the 2.96 metres
Cardinal Resources – CDV ($.275) – $.335 – 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) – $.26 – reports that it has completed the winter drilling activities of the previously announced 25,000 m drilling program to be carried out in 2020 with two drills on its 100% owned flagship Sakami project in Quebec’s Eeyou Istchee James Bay territory. A total of 32 holes (7,250 m) have been drilled by QPM since the beginning of the year. Results will be released during the next few weeks.
Canada Nickel Company – CNC ($.51) – $.65 – announced that the Company has filed on SEDAR an independent technical report prepared in accordance with National Instrument 43-101 – Standards of Disclosure for Mineral Projects supporting the maiden mineral resource estimate for its 100% owned Crawford Nickel-Cobalt Sulphide Project near Timmins, Ontario
Dore Copper – DCMC ($.85) – $.52 –
announce two additional intercepts from its 2020 drill program at the Corner Bay deposit. These results complete the assays for drill holes announced on March 3rd, 2020. The two holes extend the deposit approximately 200 meters downdip with the deposit remaining open along strike and down plunge. Highlights: CB-20-16: 7.25 meters of 2.46% Cu, 0.59 g/t Au and 5.0 g/t Ag (TW approx. 4.26 meters); CB-20-16W1: 2.3 meters of 2.67% Cu, 0.17 g/t Au and 6.2 g/t Ag (TW approx. 1.5 meters). This was part of a large mineralized shear zone of 33.1 m (TW 21.85 m) assaying 0.56% Cu.
Dios Exploration – DOS ($.095) – $.08 – reports partner Sirios Resources completed an heli-borne magnetic survey and plans drilling in April on Solo gold property, south of Opinaca river Fault, south-east of its K2 property., adjacent to Azimut Exploration’s Elmer gold discovery property, James Bay Eeyou Istchee, Quebec.
Dolly Varden – DV ($.275) – $.29 – announced that it has retained a new team of experienced, technical mining professionals focused on growing and advancing silver resources and has appointed an Investor Relations Representative to enhance shareholder communications and investor awareness.
Cartier Resources – ECR ($.15) – $.125 – announced that it has elected to defer its 2020 Annual General Meeting of Shareholders normally held in late May – early June due to COVID-19 concerns, and plans to hold it later in the year. This decision was taken at a time when orders from the Government of Quebec forbid public gatherings. Cartier reminds its shareholders that drilling activities remain suspended on the Chimo Mine property, located 45 km east of Val-d’Or, until further notice. Other work is in progress by telework or other confinement situations
Geomega Resources – GMA ($.16) – $.165 – announced that its main activity, which is the ongoing engineering work with Hatch have been able to continue despite the crisis. In parallel, the Corporation began modifying its Rare Earth Pilot Plant facility, located at the National Research Council (“NRC“) in Boucherville, Quebec, to be able to produce hand sanitizer, which shall be geared predominantly towards retirement homes and hospitals
Angus Ventures – GUS ($.32) – $.40 – announced that it has staked 347 mineral claims contiguous and adjacent to the Gold Sky Project located in Wawa, Ontario. The staked mineral claims represent a 94-square-kilometre land package and almost doubles the size of the recently acquired project. The consolidated land package now stands at 194-square-kilometres and lies between Wesdome’s two producing gold mines.
Excelsior Mining – MIN ($1.00) – $.58 – announced it is taking steps to conserve cash and maintain a robust balance sheet. Excelsior is reducing its workforce, while retaining the personnel necessary to maintain the facilities and sustain environmental monitoring and compliance requirements. The Gunnison Copper Project will be maintained in a safe care and maintenance state; thereby, allowing Excelsior the ability to restart the well field when timing is deemed optimal. In order to provide additional liquidity during this period, Excelsior has also now received the second US$5 million loan installment from Natural Resources Credit Fund I LP
Metals X – MLX (Australia) – A$.076 – A$.08 – advises that it has received all assay results from the recently completed infill Reverse Circulation (RC) drilling program at its 100%-owned Wingellina Nickel-Cobalt Project in Western Australia. The Wingellina Mineral Resource extends over almost ten kilometres within which the Company has delineated
fifteen potential high-grade nickel-cobalt open pits which could be exploited during the first 7-10 years of operation (Starter Pits). These fifteen pits represent only a small portion of what is the largest undeveloped nickel-cobalt-scandium deposit in Australia.
During 2017-2018 the Company completed infill drilling of the first six Starter Pits (Pits 1, 3, 4, 5, 8 & 14) which successfully confirmed the targeted high-grade nickel-cobalt domains1. The Company has recently completed infill RC drilling of an additional two defined Starter Pits (Pits 2 & 7) with further outstanding results being returned. The drilling program, which comprised 32 RC holes for 1,416m, encountered nickel-cobalt mineralisation occurring from, or near, surface with significant intersections including:
• WPRC0731: 26m @ 1.57% Ni & 0.18% Co (2.04% Nieq2) from surface
• WPRC0735: 28m @ 1.98% Ni & 0.11% Co (2.27% Nieq2) from 12m
• WPRC0743: 72m @ 1.32% Ni & 0.08% Co (1.53% Nieq2) from 2m
• WPRC0747: 10m @ 1.36% Ni & 0.23% Co (1.96% Nieq2) from 26m
*Approximate cash price of tin currently $15,202/t
Manitou Gold – MTU ($.045) – $.06 – announced initial results from its winter exploration program being conducted in the eastern Michipicoten gold belt, between the Island Gold mine and the past producing Renabie gold mine, north of Wawa, Ontario. Ongoing work includes approximately 1,600 meters of diamond drilling as well as airborne and ground geophysics. Ongoing drilling intersects wide, mineralized shear zone in first two holes drilled to date at the Company’s Patents property. This 70 metre shear zone (estimated true width of 50 meters) containing quartz veins displays broad similarities with ore bearing veins at the Island Gold Mine (assays pending).
NioBay Metals – NBY ($.30) – $.28 – announced significant high-grade intersections at the James Bay Niobium Project (the “Project”) in Northern Ontario, intersects 1.02% Nb²O⁵ over 62 metres. The Company is pleased to announce assay results for the first three drill holes (NBY-20-E1 to E3) subsequent to the completion of its drilling program. In total, the Company completed seven drill holes for a total of 3,090 metres. The results of the remaining drill holes (NBY-20-E4 to E7) are pending and will be disclosed once the results are received, compiled and verified.
Verde AgriTech – NPK ($.455) – announced that its revenues in 2019 were 13.8% greater than its most recently announced target for that year. The Company’s revenues in 2019 were $6.029 million, against a previously stated target of $5.3 million. The gross margin was 48% and the operating profit before non-cash events was $0.025 million. In 2018 the Company’s revenues were $1.358 million, the gross margin was 21% and the operating loss before non-cash events was $1.444 million.
Northern Shield – NRN ($.09) – $.06 – announced an update on the Root & Cellar Property in Newfoundland which is being explored for low sulphidation epithermal gold-silver and copper porphyry mineralization. Northern Shield has an option to earn up to a 100% interest in Root & Cellar. The first phase of processing of data from a high resolution airborne magnetic survey conducted earlier this year has been completed. As a result, repetitive linear magnetic features are apparent and spatially associated with the gold mineralization, particularly at the Conquest Zone. There is also evidence that supports the potential for the existence of copper porphyry targets at Root & Cellar.
Rockcliff – RCLF ($.07) – $.05 – announced the filing of a National Instrument 43-101-Standards of Disclosure for Mineral Projects technical report titled “Technical Report and Updated Mineral Resource Estimate of the Tower Copper (Zinc-Gold-Silver) Project, Manitoba, Canada in respect of an updated Mineral Resource Estimate prepared by P&E Mining Consultants Inc. on the Tower Property.
RJK Explorations – RJX.A ($.19) – $.195 – announced that at least 18 natural diamonds, varying in colour, have been recovered in a 22.4 kg (50 lb) drill core sample. Four of the stones that appear natural are -0.212+0.150 mm in size. One is light yellow, one is light green and two are white in colour. These are mostly partially crystalline chips and are clear with single tiny inclusions in two of the stones. Seven of the stones thought to be natural are -0.150+0.106 mm in size. Five of these are clear white broken fragments, one is clear white with broken dodecahedral crystal faces and one is a light brown diamond fragment. Fifty-two diamonds were recovered that are -0.106 mm in size. Seven are tiny clear white chips thought to be natural. The remaining forty-five stones are described as tiny, clear yellow chips
Scottie Resources – SCOT ($.185) – $.215 – announced a number of recent property transactions and option agreement negotiations. Together these transactions increase the total claim package from 19,113 ha to 24,589 ha, decrease the percentage of optioned claims from 36% to 6.4%, and generate a total cumulative savings over the next 3 years of greater than $1 million CAD. All claims are located within the southern portion of British Columbia’s Golden Triangle, including the 100% owned Scottie Gold Mine which produced 95,426 oz at an average recovered grade of 16.25 g/t gold in the early 1980’s.
Superior Gold – SGI ($.61) – $.70 – announced detailed production results for the first quarter from the Company’s 100%-owned Plutonic Gold operations, located in Western Australia.
Sun Metals – SUNM ($.225) – $.085 – announced that it has realized significant discovery success at the Stardust Project. In 2018, our Stardust technical team discovered the 421 zone by drilling DDH18-SD-421, which returned 100 metres of 5.05% copper equivalent (CuEq). In 2019, we followed up this discovery by intersecting the 421 zone with 15 additional drill holes delineating a significant high‐grade copper‐gold system. Sun Metals also consolidated ownership of Stardust and completed a it$6,151,500 bought-deal private placement. Combined, the Company has increased its exposure to, and ability to achieve additional discovery success at Stardust.
**TAG Oil – TAO ($.35) – $.11 + $.30 cash 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) – announced the Company has signed a definitive agreement with Madison Metals to acquire the Madison Copper Gold Project near Silver Star Montana, USA. The project is currently under an earn-in, joint venture agreement whereby Kennecott Exploration Company, part of the Rio Tinto Group (ASX, LON: RIO) may spend $30 million USD to earn up to 70% of the project. Drill results from Kennecott’s 2019 drill program are pending and should be released shortly.
VR Resources – VRR ($.35) – $.29 – announced it is responding to difficult drilling conditions and rising drill costs by suspending the current drill program at Ranoke, with plans to restart later this spring or summer when surface conditions improve. From VR’s CEO, Dr. Michael H. Gunning, “We can’t drill without water, and as of late last week, all surface waters at Ranoke were completely frozen, all ponds and all creeks. Delays and difficulties related to water has both impeded the length of the holes completed, and pushed our drill costs to unacceptable levels, so in the broader context of current market uncertainty and volatility, VR is responding by suspending drilling with three holes complete, with plans to return later this spring or summer to complete the first-pass drill program when ground conditions for water will foster more efficient drilling. Strategic thinking is required during the current market cycle, and VR will recognize that this is simply not the right time to be fighting our drill costs. We continue to advance our Big Ten gold project in the Walker Lane in Nevada, with news to follow. The Company is well funded to execute its strategies for 2020, reporting a $2.2m working capital in February.”
OIL & GAS STOCKS
Severely depressed, question now is, who will survive? and when will the survivors turn around?
Stock – (Price When Listed) – Current Stock Price – Dividend Yld
Birchcliff Energy – BIR – ($2.32) – $1.15
Crescent Point – CPG ($3.51) – $1.34 .75% Div
CENOVUS ENERGY – CVE ($3.86) – $3.84
Gran Tierra – GTE ($1.03) – $.365
MEG Energy – MEG ($7.39) – $2.73
NuVista Energy – NVA ($2.31) – $.65
Surge Energy – SGY ($1.14) – $.225
Torq Oil & Gas – TOG ($4.49) – $.86 7% Div
Tamarack Valley – TVE ($1.73) – $.53
Whitecap Resources – WCP ($5.55) – $1.35 12.7% Div
Yangarra Resources – YGR ($1.03) – $.44