NOTE: Not a recommendation to buy or sell stocks
The TFSA Letter Stock List is simply a list of stocks for TRADING IN 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. SOME STOCKS MAY BE SOLD IF STOCK RUNS UP BUT WILL REMAIN ON THE LIST IF THE STORY STILL GOOD AND THEY MAY BE BOUGHT BACK AGAIN IF STOCK DROPS TO ATTRACTIVE PRICE. DO YOUR OWN DUE DILIGENCE
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) – $.31 – announced that it has reached an agreement dated May 25, 2020 to acquire from SSR Mining Inc. its 20% interest in the Cachinal silver-gold project for a total consideration of C$700,000. On completion of the transaction, Aftermath Silver will own 99.9% of the shares of Minera Cachinal SA, which owns Cachinal. One share will remain held by a Chilean national as per Chilean business law requirements
Adamera Minerals – ADZ ($.04) – $.055 – is expanding its 100% owned land holdings and has entered into an agreement with an arm’s length party to lease a number of claims for a period of 6 years in Washington Sstate, USA for US$1,000 cash and 100,000 common shares, subject to the TSX Venture Exchange’s approval.
1911 Gold – AUMB ($.26) – $.465 – since commencing tailings reprocessing operations on May 21, 2020, the Company has steadily increased the daily production rate from 870 tonnes per day (TPD) to 1,165 TPD, at an average grade of 1.0 gram per tonne. By prioritizing readily accessible areas of the tailings management area and continuously preparing other areas through excavating, windrowing and drying tailings material, the Company expects the tailings operation to recover from the delayed start due to COVID-19. Production is currently forecasted at between 190,000 and 200,000 tonnes over the next 5 months, depending on the onset of the winter season.
Macdonald Mines – BMK ($.11) – $.085 – announced that, with strict health protocols in place, it has resumed its 2020 drilling program after temporarily suspending operations due to COVID-19 at its SPJ Project, located 40 km east of Sudbury, Ontario. The Company remains well funded as the Spring 2020 exploration program continues. Results from 2 holes from the winter 2020 drilling program are still pending and will be released when they are received.
Cardinal Resources – CDV ($.275) – $.41 – 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) – $.275 – reports the discovery of the La Pointe Extension following the winter diamond drilling program on the 100% owned Sakami Project in Quebec’s Eeyou Istchee James Bay territory. Significant additional drilling will be required to better define the exploration potential of this discovery. The La Pointe deposit and new La Pointe Extension discovery are part of a larger 13-kilometre-long mineralized trend on the Project striking SSW-NNE
Canada Nickel Company – CNC ($.51) – $1.05 – announced it has commenced the Preliminary Economic Assessment (PEA) for the Crawford Nickel-Cobalt Sulphide Project and has retained Ausenco Engineering Canada Inc. as the lead study consultant. Canada Nickel also appointed Mr. Christian Brousseau, P.Eng., to the Canada Nickel team as the Project Director for Crawford. Reporting to the Chair and CEO, Mr. Brousseau will have overall responsibility for the PEA as well as the execution plan, engineering, and construction of Crawford.
Dore Copper – DCMC ($.85) – $.65 – announced that it has resumed drilling at its Cedar Bay property. The two drill holes that were in progress when drilling stopped on March 24th, have resumed without incident and no changes to the Cedar Bay drill program announced on January 6th, 2020 are anticipated. The program will test the 10-20 zone at the shaft level. The 10-20 zone consists of three parallel veins where previous drilling returned numerous high-grade gold and copper intercepts including 2.4 m grading 19.5 g/t Au and 1.67% Cu in hole CDR-18-02, and 2.4 m grading 15.4 g/t Au and 4.54% Cu in hole CDR-18-03. The drill program will also test the main Cedar Bay vein at depth.
Dios Exploration – DOS ($.095) – $.095 – announced undertaking a contract to carry out line cutting of a 3.2 km long by 700 m to 1.1 km large (200 m-line spaced) grid and a time-domain dipole-dipole induced polarization (IP) survey to better define the Wi-Target on its wholly-owned K2 gold project located in the Elmer Lake area, Itchee-Eeyou James Bay, Québec (n=1 to 6, 25 meter separation). This survey will allow a more precise targeting of the Wi Target for the upcoming late summer-fall drilling program on K2, in strike southwest of Azimut’s Elmer gold discovery.
Dolly Varden – DV ($.275) – $.44 – announced that on June 10 it has closed two private placement financings to raise aggregate gross proceeds of approximately $7.68 million, previously announced on May 19 and May 20, 2020, respectively. The Offerings consisted of the sale of: (i) 6,969,697 common shares in the capital of the Company at a price of $0.33 per share; and (ii) 10,000,000 Common Shares that qualify as “flow-through shares” as defined in the Income Tax Act (Canada) at a price of $0.45 per share. The Offerings were fully subscribed and included a strategic investment by Mr. Eric Sprott.
Cartier Resources – ECR ($.15) – $.195 – announced values of 32.0 g/t Au over 2.0 m included within 16.5 g/t Au over 4.5 m, also included within 7.1 g/t Au over 12.1 m, intersected at a distance of 500 m below the new Zones 5B4-5M4-5NE of the Chimo Mine Property, located 45 km east of Val-d’Or. “These new results indicate that the gold mineralisation is open in all directions below Zones 5B4-5M4-5NE which have been drilled to date from surface to a depth of 1,300 m” commented Philippe Cloutier, President and CEO, adding “growing the dimensions of the cluster of Zones 5B4-5M4-5NE is an important addition to the development potential of the project.”
Eloro Resources – ELO ($.37) – $.51 –announced it has completed a previously announced non-brokered private placement of 5,000,000 units of Eloro at a price of $0.30 per unit for proceeds of $1,500,000; the majority of the proceeds of the Private Placement will be used to fund exploration efforts at Eloro’s optioned Iska Iska Property in Bolivia. Proceeds will additionally be utilized for working capital purposes and to fund efforts on Eloro’s wholly-owned Peruvian properties.
European Cobalt – EUC (Australia) – (A$.042) – A$.034 – announced that it has signed an exclusive option agreement to acquire 100% of the Edleston Gold Project located in Ontario, Canada. Managing Director, Mr Rob Jewson commented “The Edleston Gold Project is an advanced exploration opportunity with particularly exciting exploration upside potential. The work done to date has outlined a significant mineralised system which can be effectively targeted using IP geophysics. To date only 540m of strike has been tested along a corridor with multiple moderate to strong IP conductors delineated along a total strike exceeding 3,300m. The extent of these anomalies at present are constrained by the extent of the IP surveys.” In excess of CDN$10M has been spent to date on primarily geophysical and drilling activities across the Edleston Project by 55 North Mining Inc (formerly SGX Resources Inc). Due to the lack of outcrop at surface, exploration has largely been driven by a combination of detailed magnetics to define the structural and lithological framework.
FenixOro Gold – FENX ($.245) – $.305 – has recently mobilized a geophysical crew to Abriaqui to further define the structural setting of known vein and replacement style mineralization and to begin exploration on a potential porphyry style gold target. The Company recently announced the commencement of its Phase 1 exploration program made possible by a local exemption from COVID work restrictions. The principal target at Abriaqui is a series of over 80 closely-spaced, “Buritica-style” high grade gold veins many of which have assayed over 20 g/t gold and as high as 146 g/t Au. These veins occur in distinct corridors and are spaced meters to tens of meters apart. The veins and several areas of intervening stockwork mineralization will be the principal target of the upcoming 6000-meter maiden drill program slated to begin in Q3 2020 with each hole targeting multiple families of veins.
Geomega Resources – GMA ($.16) – $.155 – announced that Mr. Matt Silvestro, President & Owner of Jobmaster Magnets, has joined the Board of Directors of the Corporation. “As Geomega is moving to the next phase of its development, I am very pleased to welcome Mr. Silvestro as an independent Director,” said Kiril Mugerman, President & CEO of Geomega. “We recently began a collaboration with Jobmaster Magnets and it quickly became very clear that Matt can bring significant industry knowledge and expertise to the Corporation as we are moving towards production. His understanding of the magnet supply chain is critical, especially in the current global environment where industrial supply chains are being redefined.
Golden Goliath – GNG ($.06) – $.07 – announced that the recently announced private placement has now received the necessary regulatory approvals. Originally planned for $350,000, the private placement was increased to $450,000 due to demand and then again to $500,000. The Company filed with the TSX on May 13th when it had received subscriptions from 24 placees, including several Company Insiders. The offering closed at 9,960,000 Units at a price of $0.05 per unit for gross proceeds of $498,000.00; net proceeds will be used on the Company’s Kwai property in the Red Lake district to complete the approximately 50 line kilometres of Induced Polarization survey that was identified as a priority by the recent airborne geophysical survey and to conduct a program of till sampling geochemistry on the property. Preliminary IP lines surveyed last year yielded nine drill targets that have already been permitted and this new work is expected to increase that number.
Angus Ventures – GUS ($.32) – $.71 – announced a non-brokered private placement up to 6,000,000 flow-through common shares of the Company at a price of $0.441 per FT Common Share for gross proceeds of up to $2,646,000. The gross proceeds from the Financing will be used to fund Canadian Exploration Expenses which shall qualify as “flow-through mining expenditures”, for purposes of the Income Tax Act (Canada), related to the Company’s Golden Sky Project in Wawa, Ontario.
Metals X – MLX (Australia) – (A$.076) – A$.086 – 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$25,052/t
Manitou Gold – MTU ($.045) – $.04 – announced that it has entered into a purchase agreement with private vendors to purchase the property known as the Shihan property, located in Rennie Township, Ontario. The Shihan property is contiguous with the Company’s Goudreau Project lands and the consolidated land package now spans approximately 340 square kilometers.
NioBay Metals – NBY ($.30) – $.39 – announced new and significant high-grade intersections at the James Bay Niobium Project in Northern Ontario. The assay results for the remaining four drill holes are in-line with the previous three holes. In total, the Company completed seven drill holes for a total of 3,090 metres, and confirmed; the presence of a high-grade core raking north; Increasing width moving north of the deposit; mineralization open at depth (deepest hole at 330 meters); Significant potential to further extend the known resource.
Verde AgriTech – NPK ($.455) – $.50 – announced its financial results for the first quarter ended March 31, 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) – $.34 – announced that it has completed this phase of drilling at La Ivana target of the Santa Rosa high grade silver-gold project and is moving the rig to begin testing the Megapozo target. Drilling at La Ivana totaled 2,274 metres of core drilling over 20 holes. Assays for the remaining four holes are expected within the next two weeks.
Pacific Empire – PEMC ($.06) – $.065 – announced it has entered into an option agreement to acquire a 100% interest in the Jean Marie Project, a copper-gold-silver-molybdenum porphyry project located 50 km west of Centerra Gold Inc.’s Mt. Milligan copper-gold mine in central British Columbia. The Jean Marie Project covers 6,300 hectares and has multiple mineralized zones which are open for expansion. Historical drilling highlights include drill hole J97-11 which intercepted 184 m @ 0.33% Cu, including 27 m @ 1.2% Cu; Three discrete zones, each with indicators showing higher grade potential; 9 kilometre trend of highly anomalous copper geochemistry.
Precipitate Gold – PRG ($.125) – $.16 – announced it has commenced exploration field work on the Copey Hill Gold Zone within the Company’s 100% owned Ponton project, located in the Dominican Republic. With Dominican Republic COVID-19 restrictions beginning to ease, the Company’s in-country field crews have been mobilized to the Ponton project to initiate a program of geochemical sampling to test for possible expansion of the existing Copey Hill multi-element geochemical anomaly. The existing anomaly is open to the east and northeast (see accompanying map), so crews will expand the survey area in those directions collecting soil samples on 50 metre by 100 metre spacing.
Rockcliff – RCLF ($.07) – $.07 – announced that an initial 3,000 metre drill program has commenced on its Tower Property. The drill program will initially focus on expanding the Tower deposit mineralization immediately south of hole TP20-080 which intersected 4.9% CuEq across a down hole width of 13.5 metres including 12.4% CuEq across 2.7 metres. The Tower deposit remains open along strike to the south and at depth; is well-funded and is the largest development and exploration junior landholder in the Flin Flon-Snow Lake greenstone belt, the largest Paleoproterozoic VMS district (copper, gold, zinc, silver) in the world.
RJK Explorations – RJX.A ($.19) – $.175 – announced that it will resume its drill program for kimberlites on their Cobalt project within the next two weeks. During the Covid19 shutdown, geophysical contractors completed a survey that identified several well defined IP anomalies. These anomalies are proximal to the Nipissing Diabase / Granite contact as well as the kimberlite breccia sill drilled in 2019 that contained the 18 diamonds; in addition, RJK is completing a non-brokered flow-through private placement of up to $300,000 at a price of $0.20 per share.
Scottie Resources – SCOT ($.185) – $.26 – announced that it has closed its previously announced non-brokered private placement offering of units with a Swiss family office, at a price of $0.22 per Unit (see news release dated June 1, 2020). Each Unit consists of one common share and one half of one common share purchase warrant. Each Warrant is exercisable into one common share at a price of $0.34 per Warrant for a period of two years from closing.
Superior Gold – SGI ($.61) – $.73 – announced first 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) – $.14 – announced the successful closing of its non-brokered private placement initially announced on May 11, 2020 and up-sized on May 13, 2020 due to strong demand; the Company issued a total of 18,750,000 units of the Company at a price of $0.08 per Unit, for gross proceeds of $1,500,000. Each Unit consists of one common share of the Company and one-half of one Common Share purchase warrant. Each Warrant entitles the holder to acquire one Common Share of the Company until May 25, 2021 at a price of $0.12, and from May 26, 2021 to May 25, 2022 at a price of $0.15.
**TAG Oil – TAO ($.05) – $.13 – $.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) – $.29 – 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) – $.29 – 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) – $.43 – announced that it has discovered the silver in historic drill holes GC-8 and GC-9 is hosted by the same rare silver mineral that is host to the silver at the Broken Hill and Cannington silver-lead-zinc mines in Australia, as well as a silver enriched variant
Group Eleven – ZNG ($.05) – $.06 – announced the commencement of diamond drilling at its 100%-interest PG West zinc-lead and copper-silver project (“PG West”), near Limerick, in the Republic of Ireland; drilling at PG West is expected to total approximately 1,000 metres. The first hole commenced drilling on May 22nd, 2020 and is expected to be 300-400 metres deep. The target consists of the base of the Waulsortian limestone on the southern edge of the Limerick Volcanic Complex, along the Pallas Green Corridor. This hole is located 250 meters south of hole G11-450-02 (the “Kilteely hole” which intersected the outer margin of a suspected new Irish-Type zinc-system.