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) – $.26 – announced that it has closed its previously announced non-brokered private placement of 7,500,000 units at a price of $0.20 per Unit for gross proceeds of $1,500,000. Each Unit sold consists of one common share in the capital of the Company and one-half of one non-transferable common share purchase warrant. Each Warrant is exercisable by the holder to acquire one Common Share for a period of 36 months from closing at a price of $0.25 per Common Share
Adamera Minerals – ADZ ($.04) – $.04 – announced an update on its upcoming exploration program. Plans to start deeper penetrating induced polarization (IP) surveying at the beginning of April will be pushed back temporarily due to concerns related to the Covid-19 pandemic. Hochschild Mining PLC (LON: HOC) and Adamera will use this time to refine existing drill targets and to review bids from drilling contractors.
1911 Gold – AUMB ($.26) – $.55 – announced the commencement of the 2020 tailings reprocessing season at the company’s True North complex in Manitoba. The Company is currently returning personnel to True North in stages to allow for the measured implementation of COVID-19 mitigation procedures, with plans to commence full operations by the third week of May
Macdonald Mines – BMK ($.11) – $.10 – announced that, with strict health protocols in place, it has resumed its 2020 drilling program after temporarily suspending operations due to COVID-19 at its SPJ Project, located 40 km east of Sudbury, Ontario. The Company remains well funded as the Spring 2020 exploration program continues. Results from 2 holes from the winter 2020 drilling program are still pending and will be released when they are received.
Cardinal Resources – CDV ($.275) – $.40 – 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) – $.305 – reports the discovery of the La Pointe Extension following the winter diamond drilling program on the 100% owned Sakami Project in Quebec’s Eeyou Istchee James Bay territory. Significant additional drilling will be required to better define the exploration potential of this discovery. The La Pointe deposit and new La Pointe Extension discovery are part of a larger 13-kilometre-long mineralized trend on the Project striking SSW-NNE
Canada Nickel Company – CNC ($.51) – $1.09 – announced that it has closed its previously announced brokered private placement financing for aggregate gross proceeds of $4,449,670 of (i) 1,642,890 units of the Company at an offer price of $0.35 per Unit, (ii) 4,390,000 common shares of the Company at an offer price of $0.40 per Flow-Through Share, and (iii) 4,113,900 flow-through units of the Company at an offer price of $0.515 per FT Unit
Dore Copper – DCMC ($.85) – $.74 – announce two additional intercepts from its 2020 drill program at the Corner Bay deposit. These results complete the assays for drill holes announced on March 3rd, 2020. The two holes extend the deposit approximately 200 meters down dip with the deposit remaining open along strike and down plunge. Highlights: CB-20-16: 7.25 meters of 2.46% Cu, 0.59 g/t Au and 5.0 g/t Ag (TW approx. 4.26 meters); CB-20-16W1: 2.3 meters of 2.67% Cu, 0.17 g/t Au and 6.2 g/t Ag (TW approx. 1.5 meters). This was part of a large mineralized shear zone of 33.1 m (TW 21.85 m) assaying 0.56% Cu.
Dios Exploration – DOS ($.095) – $.105 – 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) – $.285 – announced that it has retained a new team of experienced, technical mining professionals focused on growing and advancing silver resources and has appointed an Investor Relations Representative to enhance shareholder communications and investor awareness.
Cartier Resources – ECR ($.15) – $.17 – announced that it has elected to defer its 2020 Annual General Meeting of Shareholders normally held in late May – early June due to COVID-19 concerns, and plans to hold it later in the year. This decision was taken at a time when orders from the Government of Quebec forbid public gatherings. Cartier reminds its shareholders that drilling activities remain suspended on the Chimo Mine property, located 45 km east of Val-d’Or, until further notice. Other work is in progress by telework or other confinement situations
GoGold Resources – GGD ($.70) – $.76 – announced the release of financial results for the quarter ending March 31, 2020 with revenue of $8.6 million (all amounts are in U.S. dollars) from the sale of 567,013 silver equivalent ounces which provided cash flow from operations of $1.9 million.
Geomega Resources – GMA ($.16) – $.14 – announced that the Company has completed the retrofit of its pilot plant and has begun the production of hand sanitizer for the Québec market. As indicated in the April 20, 2020 press release, the Corporation obtained the natural product number and all the approvals from Health Canada in order to manufacture and distribute hand sanitizer using the WHO-recommended formulation. The modifications have now been completed and production has begun. The production is from the Corporation’s Pilot Plant and allows Geomega to produce up to 675 liters per week.
Angus Ventures – GUS ($.32) – $.53 – announced that it has staked 347 mineral claims contiguous and adjacent to the Gold Sky Project located in Wawa, Ontario. The staked mineral claims represent a 94-square-kilometre land package and almost doubles the size of the recently acquired project. The consolidated land package now stands at 194-square-kilometres and lies between Wesdome’s two producing gold mines.
Metals X – MLX (Australia) – A$.076 – A$.091 – 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$23,405/t
Manitou Gold – MTU ($.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) – $.25 – announced significant high-grade intersections at the James Bay Niobium Project (the “Project”) in Northern Ontario, intersects 1.02% Nb²O⁵ over 62 metres. The Company is pleased to announce assay results for the first three drill holes (NBY-20-E1 to E3) subsequent to the completion of its drilling program. In total, the Company completed seven drill holes for a total of 3,090 metres. The results of the remaining drill holes (NBY-20-E4 to E7) are pending and will be disclosed once the results are received, compiled and verified.
Verde AgriTech – NPK ($.455) – $.425 – 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) – $.08 – announced that all drill core assays from the inaugural drilling program at the Shot Rock Property in Nova Scotia have been received and include high-grade gold intercepts of up to 22 g/t Au, the highest gold grades to date from Shot Rock. Northern Shield can earn up to an 80% interest in Shot Rock. The Property is being explored for low sulphidation epithermal gold mineralization.
Precipitate Gold – PRG ($.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) – $.09 – announced the completion of its phase four drill program at the Company’s Bur Property located in central Manitoba. The drill program was successful in identifying additional shallow, near surface, high-grade Zinc-Copper mineralization along strike of the historcial Bur Zinc-Copper Deposit. Rockcliff is presently earning a 100% interest in the Bur Property.
RJK Explorations – RJX.A ($.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) – $.20 – 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 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) – $.095 – 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 $0.15 for the final 12 months of their term
**TAG Oil – TAO ($.35) – $.115 + $.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) – $.16 – announced the filing of a technical report (the “Report“) for the Company’s Tuscarora Gold Project in Elko Nevada titled, “Technical Report Tuscarora Property, Elko County Nevada, USA”. The Report, dated April 3, 2020 and effective as of March 31, 2020, was prepared in accordance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects (“NI 43-101”)
VR Resources – VRR ($.35) – $.205 – 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.