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) – $.225 – announced that in strictly adhering to Canadian and Chilean Government directives and other recommendations to mitigate the spread and transmission of COVID-19, the Company cannot currently mobilize people or equipment to the Cachinal and Challacollo Silver Projects in Northern Chile. Planning has however continued and the scope of the Phase 1 programs at both projects has been finalised. In the first week of March, prior to the escalation of COVID-19 in Canada and Chile, the Company conducted site visits at both Cachinal and Challacollo. The objective was to finalise the location of the planned drill sites and advance other planning
Adamera Minerals – ADZ ($.04) – $.035 – announced an update on its upcoming exploration program. Plans to start deeper penetrating induced polarization (IP) surveying at the beginning of April will be pushed back temporarily due to concerns related to the Covid-19 pandemic. Hochschild Mining PLC (LON: HOC) and Adamera will use this time to refine existing drill targets and to review bids from drilling contractors.
1911 Gold – AUMB ($.26) – $.455 – announced an update, with high grade results, from an additional 2,539 m of drilling in 9 drill holes, completed in Q1 2020 to test two new targets in the Tinney project area, and will continue testing two targets within the Bidou project area. The Tinney and Bidou projects are located approximately 35 km southeast of the True North mine and mill complex via an all-weather provincial road
Macdonald Mines – BMK ($.11) – $.08 – announced that it has completed a non-brokered private placement offering of securities (the “Offering”) for total gross proceeds of $994,781. The Company issued a total of 7,350,428 flow-through Class A common shares at a price of $0.07 per FT Share and 7,388,480 non-flow-through units at a price of $0.065 per Unit.
Cardinal Resources – CDV ($.275) – $.34 – 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) – $.27 – reports the discovery of the La Pointe Extension following the winter diamond drilling program on the 100% owned Sakami Project in Quebec’s Eeyou Istchee James Bay territory. Significant additional drilling will be required to better define the exploration potential of this discovery. The La Pointe deposit and new La Pointe Extension discovery are part of a larger 13-kilometre-long mineralized trend on the Project striking SSW-NNE
Canada Nickel Company – CNC ($.51) – $.84 – announced that the unit component of the best efforts private placement financing previously announced on April 02, 2020 is now oversubscribed and as a result the syndicate of agents led by PI Financial Corp., which includes Red Cloud Securities Inc. and Haywood Securities Inc., have exercised their agents’ option and the Company has upsized the Offering. The Offering will now consist of up to 1,642,890 units, up to 5,000,000 flow-through common shares and up to 4,113,900 flow-through units of the Company to raise aggregate gross proceeds of up to approximately C$4.69 million.
Dore Copper – DCMC ($.85) – $.66 – announce two additional intercepts from its 2020 drill program at the Corner Bay deposit. These results complete the assays for drill holes announced on March 3rd, 2020. The two holes extend the deposit approximately 200 meters down dip with the deposit remaining open along strike and down plunge. Highlights: CB-20-16: 7.25 meters of 2.46% Cu, 0.59 g/t Au and 5.0 g/t Ag (TW approx. 4.26 meters); CB-20-16W1: 2.3 meters of 2.67% Cu, 0.17 g/t Au and 6.2 g/t Ag (TW approx. 1.5 meters). This was part of a large mineralized shear zone of 33.1 m (TW 21.85 m) assaying 0.56% Cu.
Dios Exploration – DOS ($.095) – $.09 – reports partner Sirios Resources completed an heli-borne magnetic survey and plans drilling in April on Solo gold property, south of Opinaca river Fault, south-east of its K2 property., adjacent to Azimut Exploration’s Elmer gold discovery property, James Bay Eeyou Istchee, Quebec.
Dolly Varden – DV ($.275) – $.285 – announced that it has retained a new team of experienced, technical mining professionals focused on growing and advancing silver resources and has appointed an Investor Relations Representative to enhance shareholder communications and investor awareness.
Cartier Resources – ECR ($.15) – $.16 – announced that it has elected to defer its 2020 Annual General Meeting of Shareholders normally held in late May – early June due to COVID-19 concerns, and plans to hold it later in the year. This decision was taken at a time when orders from the Government of Quebec forbid public gatherings. Cartier reminds its shareholders that drilling activities remain suspended on the Chimo Mine property, located 45 km east of Val-d’Or, until further notice. Other work is in progress by telework or other confinement situations
GoGold Resources – GGD ($.70) – $.73 – released the assay results from 8 diamond drill holes at the Los Ricos South Project, including 3 at San Juan and 5 at the Main Area of the project. The positive results continue to show the strength of the Los Ricos South Project in the Company’s Los Ricos district. Hole LRGG-20-143 was drilled on section 700N in the San Juan area of the project and intersected the Los Ricos quartz vein from 12.5 to 35.7m. The 23.2m intersection averaged 163 g/t silver equivalent, which consisted of 113 g/t silver and 0.68 g/t gold. The intersection included 11.7m of 224.5 g/t silver equivalent, or 2.99 g/t gold equivalent.
Geomega Resources – GMA ($.16) – $.16 – announced that its main activity, which is the ongoing engineering work with Hatch have been able to continue despite the crisis. In parallel, the Corporation began modifying its Rare Earth Pilot Plant facility, located at the National Research Council (“NRC“) in Boucherville, Quebec, to be able to produce hand sanitizer, which shall be geared predominantly towards retirement homes and hospitals
Angus Ventures – GUS ($.32) – $.53 – announced that it has staked 347 mineral claims contiguous and adjacent to the Gold Sky Project located in Wawa, Ontario. The staked mineral claims represent a 94-square-kilometre land package and almost doubles the size of the recently acquired project. The consolidated land package now stands at 194-square-kilometres and lies between Wesdome’s two producing gold mines.
MINERA ALAMOS – MAI ($.30) – $.41 – reported that is has disposed of 3,000,000 common shares in the capital of Prime Mining Corp. for gross proceeds of $1,500,300 and 3,350,000 warrants to purchase common shares of Prime Mining for gross proceeds of $167,500. Immediately prior to the disposition, Minera owned 6,090,000 common shares, representing 10.3% of the outstanding common shares of Prime Mining. Following the disposition, Minera retains ownership of 3,090,000 common shares, representing 5.2% of the outstanding common shares of Prime Mining.
Metals X – MLX (Australia) – A$.076 – A$.082 – 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$23,624/t
Manitou Gold – MTU ($.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) – $.235 – announced significant high-grade intersections at the James Bay Niobium Project (the “Project”) in Northern Ontario, intersects 1.02% Nb²O⁵ over 62 metres. The Company is pleased to announce assay results for the first three drill holes (NBY-20-E1 to E3) subsequent to the completion of its drilling program. In total, the Company completed seven drill holes for a total of 3,090 metres. The results of the remaining drill holes (NBY-20-E4 to E7) are pending and will be disclosed once the results are received, compiled and verified.
Verde AgriTech – NPK ($.455) – $.43 – 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) – $.095 – announced that all drill core assays from the inaugural drilling program at the Shot Rock Property in Nova Scotia have been received and include high-grade gold intercepts of up to 22 g/t Au, the highest gold grades to date from Shot Rock. Northern Shield can earn up to an 80% interest in Shot Rock. The Property is being explored for low sulphidation epithermal (LSE) gold mineralization.
Precipitate Gold – PRG ($.125) – $.18 – announced its new high priority exploration focus at its 100% owned Ponton project, located approximately 20 kilometres due east of the Company’s Pueblo Grande project in the Dominican Republic. Recent data compilation and interpretation of the Ponton property’s historical surface geochemical sampling (soil, rock and stream sediment) highlighted the project’s Copey Hill Zone as the region’s strongest multi-element geochemical anomaly (gold, silver, arsenic, mercury, antimony) which is likely reflective of a near surface epithermal gold system. The zone has never been drill tested and will be the focus of the Company’s near-term drill targeting plans.
Rockcliff – RCLF ($.07) – $.07 – announced the results from ore sorting test work indicating high potential for the use of ore sorting to preconcentrate mineralized material from the 100% owned Tower and Rail deposits located in the Flin Flon-Snow Lake region of Manitoba. Ore sorting is a technology that can select rock with mineralization and separate them from rocks without mineralization, thus upgrading the mineral content of the ore delivered to the mill. Alistair Ross, President and CEO commented, “The ore sorting characterization test work on our Tower and Rail deposits provides exciting upside for our projects on a number of fronts. With an upgrade ratio of at least 1.4 on both Tower and Rail, ore sorting has demonstrated an ability to reject low sulphide waste.
RJK Explorations – RJX.A ($.19) – $.18 – announced that the 273 kg kimberlite sample retrieved from the Kon Property has arrived at the CF Mineral Research Ltd. (CFM), an ISO 9001:2015 certified and 17025:2005 compliant laboratory and processing has started. The kimberlite indicator mineral report for the Bishop Paradis drill core, reported in RJK’s news release dated April 1 2020, has been uploaded to the company website https://www.rjkexplorations.com/paradis-pond-22-4-kg-drill-core-sample-report/
Scottie Resources – SCOT ($.185) – $.23 – 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) – $.79 – announced detailed production results for the first quarter from the Company’s 100%-owned Plutonic Gold operations, located in Western Australia.
Sun Metals – SUNM ($.225) – $.08 – 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) – $.105 + $.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) – $.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) – $.255 – continues to advance the Big Ten gold project in the Walker Lane belt in Nevada towards first-pass drilling of the Amsel target: 311 g/t Ag and 4.1 g/t Au discovered at surface in a grab sample of quartz-adularia altered tuff with a pervasive clay overprint from within the 2 x 3 km potassium anomaly at Amsel; has increased the size of the Amsel property for the third time. It now constitutes 66 claims covering 1,363 acres, and covers the entire 2 x 3 km quartz-adularia alteration cap; recently completed and filed on SEDAR an independent, NI 43-101 Technical Report on the Amsel property. It incorporates all data collected during 2018 and 2019, and recommends first-pass drilling of the untested target at Amsel.
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) – $1.49
Crescent Point – CPG ($3.51) – $1.82 .6% Div
CENOVUS ENERGY – CVE ($3.86) – $4.71
Gran Tierra – GTE ($1.03) – $.43
MEG Energy – MEG ($7.39) – $2.87
NuVista Energy – NVA ($2.31) – $.79
Surge Energy – SGY ($1.14) – $.275
Torq Oil & Gas – TOG ($4.49) – $1.04 5.8% Div
Tamarack Valley – TVE ($1.73) – $.74
Whitecap Resources – WCP ($5.55) – $1.78 9.6% Div
Yangarra Resources – YGR ($1.03) – $.48