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) – $.285 – 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) – $.055 – announced an update on its upcoming exploration program. Plans to start deeper penetrating induced polarization (IP) surveying at the beginning of April will be pushed back temporarily due to concerns related to the Covid-19 pandemic. Hochschild Mining PLC (LON: HOC) and Adamera will use this time to refine existing drill targets and to review bids from drilling contractors.
1911 Gold – AUMB ($.26) – $.53 – announced the commencement of the 2020 tailings reprocessing season at the company’s True North complex in Manitoba. The Company is currently returning personnel to True North in stages to allow for the measured implementation of COVID-19 mitigation procedures, with plans to commence full operations by the third week of May
Macdonald Mines – BMK ($.11) – $.075 – announced that, with strict health protocols in place, it has resumed its 2020 drilling program after temporarily suspending operations due to COVID-19 at its SPJ Project, located 40 km east of Sudbury, Ontario. The Company remains well funded as the Spring 2020 exploration program continues. Results from 2 holes from the winter 2020 drilling program are still pending and will be released when they are received.
Cardinal Resources – CDV ($.275) – $.415 – 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) – $.315 – reports the discovery of the La Pointe Extension following the winter diamond drilling program on the 100% owned Sakami Project in Quebec’s Eeyou Istchee James Bay territory. Significant additional drilling will be required to better define the exploration potential of this discovery. The La Pointe deposit and new La Pointe Extension discovery are part of a larger 13-kilometre-long mineralized trend on the Project striking SSW-NNE
Canada Nickel Company – CNC ($.51) – $1.25 – 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) – $.75 – announce two additional intercepts from its 2020 drill program at the Corner Bay deposit. These results complete the assays for drill holes announced on March 3rd, 2020. The two holes extend the deposit approximately 200 meters down dip with the deposit remaining open along strike and down plunge. Highlights: CB-20-16: 7.25 meters of 2.46% Cu, 0.59 g/t Au and 5.0 g/t Ag (TW approx. 4.26 meters); CB-20-16W1: 2.3 meters of 2.67% Cu, 0.17 g/t Au and 6.2 g/t Ag (TW approx. 1.5 meters). This was part of a large mineralized shear zone of 33.1 m (TW 21.85 m) assaying 0.56% Cu.
Dios Exploration – DOS ($.095) – $.10 – 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) – $.35 – announced its plans to undertake a private placement financing to a single subscriber, Mr. Eric Sprott, to raise gross proceeds of up to CAD$2.3-million from the sale of up to 7 million common shares of the Company at a price of $0.33 per share that qualify as “flow-through shares”; Hecla will be entitled to acquire non flow-through common shares of the Company at a price of $0.33 cents per share to maintain its pro rata equity interest in the Company. If Hecla exercises its pro rata rights under the ARA, any common shares issued to Hecla will be in addition to those issued as part of the Offering.
Cartier Resources – ECR ($.15) – $.175 – announced the results of the mineral resource estimate of the North and South Gold Corridors of the Chimo Mine property, located 45 km east of Val-d’Or. The estimate, completed and made available on May 4th, 2020, was prepared by Mrs. Claude Savard, P. Geo., from InnovExplo Inc., an independent Qualified Person as defined by NI 43-101
Eloro Resources – ELO ($.37) – announced that, further to its release dated May 1, 2020, it is proceeding with an increased non-brokered private placement of up to 2,200,000 units of Eloro at a price of $0.25 per unit for proceeds of up to $550,000. Each Unit will consist of one common share and one half of one Common Share purchase warrant. Each whole Warrant will entitle the holder to purchase one Common Share at a price of $0.50 per share for a term of 18 months following the closing of the Private Placement.
Geomega Resources – GMA ($.16) – $.135 – announced that the Company has completed the retrofit of its pilot plant and has begun the production of hand sanitizer for the Québec market. As indicated in the April 20, 2020 press release, the Corporation obtained the natural product number and all the approvals from Health Canada in order to manufacture and distribute hand sanitizer using the WHO-recommended formulation. The modifications have now been completed and production has begun. The production is from the Corporation’s Pilot Plant and allows Geomega to produce up to 675 liters per week.
Angus Ventures – GUS ($.32) – $.55 – announced that it has entered into an asset purchase agreement, pursuant to which the Company will acquire the Ellen Creek Gold Property held by a private individual. Ellen Creek is located 3 kilometres east of the Mishi open pit mine of Wesdome Gold Mines Ltd., a producing gold mine, and consists of 14 claims contiguous to the Golden Sky Project in Wawa, Ontario. Angus has also entered into an asset purchase agreement with Metalcorp Limited, pursuant to which the Company will acquire the River Gold Property from Metalcorp. River Gold consists of 6 claims adjacent to the Golden Sky Project.
Metals X – MLX (Australia) – A$.076 – A$.095 – 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$23,772/t
Manitou Gold – MTU ($.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) – $.41 – 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) – 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) – $.16 – announced its new high priority exploration focus at its 100% owned Ponton project, located approximately 20 kilometres due east of the Company’s Pueblo Grande project in the Dominican Republic. Recent data compilation and interpretation of the Ponton property’s historical surface geochemical sampling (soil, rock and stream sediment) highlighted the project’s Copey Hill Zone as the region’s strongest multi-element geochemical anomaly (gold, silver, arsenic, mercury, antimony) which is likely reflective of a near surface epithermal gold system. The zone has never been drill tested and will be the focus of the Company’s near-term drill targeting plans.
Rockcliff – RCLF ($.07) – $.08 – announced the completion of its phase four drill program at the Company’s Bur Property located in central Manitoba. The drill program was successful in identifying additional shallow, near surface, high-grade Zinc-Copper mineralization along strike of the historcial Bur Zinc-Copper Deposit. Rockcliff is presently earning a 100% interest in the Bur Property.
RJK Explorations – RJX.A ($.19) – $.175 – announced that the 273 kg kimberlite sample retrieved from the Kon Property has arrived at the CF Mineral Research Ltd. (CFM), an ISO 9001:2015 certified and 17025:2005 compliant laboratory and processing has started. The kimberlite indicator mineral report for the Bishop Paradis drill core, reported in RJK’s news release dated April 1 2020, has been uploaded to the company website
Scottie Resources – SCOT ($.185) – $.225 – 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) – $.075 – 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) – $.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) – $.275 – announced the filing of a technical report for the Company’s Tuscarora Gold Project in Elko Nevada titled, “Technical Report Tuscarora Property, Elko County Nevada, USA”. The Report, dated April 3, 2020 and effective as of March 31, 2020, was prepared in accordance with National Instrument 43-101 – Standards for Disclosure for Mineral Projects
VR Resources – VRR ($.35) – $.23 – continues to advance the Big Ten gold project in the Walker Lane belt in Nevada towards first-pass drilling of the Amsel target: 311 g/t Ag and 4.1 g/t Au discovered at surface in a grab sample of quartz-adularia altered tuff with a pervasive clay overprint from within the 2 x 3 km potassium anomaly at Amsel; has increased the size of the Amsel property for the third time. It now constitutes 66 claims covering 1,363 acres, and covers the entire 2 x 3 km quartz-adularia alteration cap; recently completed and filed on SEDAR an independent, NI 43-101 Technical Report on the Amsel property. It incorporates all data collected during 2018 and 2019, and recommends first-pass drilling of the untested target at Amsel.
Yorbeau Resources – YRB ($.055) – reported that its partner IAMGOLD Corporation released today the assay results from diamond drilling programs completed on the Astoria area and on the Lac Gamble Zone at the Company’s Rouyn Gold Project. The project is located 4 km south of Rouyn-Noranda, Quebec, and approximately 45 kilometers southwest of IAMGOLD’s Westwood mine. IAMGOLD is reporting assay results from eighteen diamond drill holes, totaling 6,585 metres drilled on the Astoria area, located approximately two kilometres east of the Lac Gamble Zone, and from twenty diamond drill holes completed on Lac Gamble Zone, totaling 6,298 metres. Two drill holes targeting the Lac Gamble Zone were abandoned due to excessive deviation and re-collared. Results are pending from an additional twelve diamond drill holes completed totaling 4,062 metres.
Zephyr Minerals – ZFR ($.24) – announced that it has discovered the silver in historic drill holes GC-8 and GC-9 is hosted by the same rare silver mineral that is host to the silver at the Broken Hill and Cannington silver-lead-zinc mines in Australia, as well as a silver enriched variant
Group Eleven – ZNG ($.05) – announced it has entered into a subscription agreement with Glencore Canada Corporation on a private placement basis. The Offering consists of 15,000,000 units at a price of $0.05 per unit for aggregate gross proceeds of $750,000, to be completed in two tranches.