*** MUSIC CLIP FOR THIS WEEK – BLACKBERRY SMOKE ***
==============================================================
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 IS 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) – $.34 – 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) – $.065 – 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) – $.465 – announced that of the 28 drill holes completed, only a single drill hole failed to yield significant gold values – noteworthy given that only one of seven targets had any record of historical drilling. “We look forward to aggressively advancing these targets, identifying compelling new targets, and continuing to build long-term value for our shareholders”.
Macdonald Mines – BMK ($.11) – $.10 – reports the remaining assay results from its Winter 2020 drilling program and results from 3 holes of its Spring 2020 drilling program at the SPJ Property, 20 km east of Sudbury, Ontario. Hole 41 intersected 27.2 g/t gold over 5.13 m in a new, near-surface discovery in the western extension of the New Zone-Villeneuve trend. Hole 43 intersected 2.3 g/t gold over 6.04 m and 2.1 g/t gold over 3.08 m in the New Zone-Villeneuve trend extending the zone of near-surface mineralization discovered in SM-19-022
Cardinal Resources – CDV ($.275) – $.61 – reports a 100% cash takeover offer from Shandong Gold at a price of A$0.60 per Cardinal share; Attractive cash premium to Cardinal’s recent trading: Offer price represents a 75.5% premium to Cardinal’s 20-day unaffected volume weighted average price, and a 39.3% premium to Cardinal’s 20-day volume weighted average price up to 18 June 2020; Offers a 31.1% premium to the Nord Gold SE indicative proposal of A$0.45775 on 16 March 2020
Quebec Precious Metals – CJC ($.25) – $.265 – announced that it is has resumed exploration activities on its 100%-owned Sakami project in the Eeyou Istchee James Bay territory of Quebec. The activities include a 7,000 m diamond drilling program in the area of the La Pointe Extension discovery using one drill rig. Drilling can be performed year-round
Condor Resources – CN ($.165) – closed a non brokered private placement to raise gross proceeds of $990,000 and appointed Dr. Quinton Hennigh to Condor’s board of directors; as a result of COVID-19 lockdowns and related delays at our Peruvian exploration offices, the filing deadline of June 29, 2020 for the Company’s audited annual financial statements for the fiscal year ended February 29, 2020 and the related management’s discussion and analysis, as required by Part 4 and Part 5 of National Instrument 51-102: Continuous Disclosure Obligations (collectively, the “Annual Filings”) will be delayed.
COMPANY PRESENTATON ON PUCAMAYO
Canada Nickel Company – CNC ($.51) – $1.00 – announced first infill hole on Main Zone returned 0.42% nickel over 306 metres starting at 43 metres, including 0.51% nickel over 27 metres starting at 304 metres. Entire hole returned 0.40% nickel, 0.017% cobalt, 0.05 g/t PGM over 361 metres within the steeply dipping higher-grade core which varies in true thickness from 40 to 160 m.
Dore Copper – DCMC ($.85) – $.76 – announced that it has resumed drilling at its Cedar Bay property. The two drill holes that were in progress when drilling stopped on March 24th, have resumed without incident and no changes to the Cedar Bay drill program announced on January 6th, 2020 are anticipated. The program will test the 10-20 zone at the shaft level. The 10-20 zone consists of three parallel veins where previous drilling returned numerous high-grade gold and copper intercepts including 2.4 m grading 19.5 g/t Au and 1.67% Cu in hole CDR-18-02, and 2.4 m grading 15.4 g/t Au and 4.54% Cu in hole CDR-18-03. The drill program will also test the main Cedar Bay vein at depth.
Dios Exploration – DOS ($.095) – $.16 – announced undertaking a contract to carry out line cutting of a 3.2 km long by 700 m to 1.1 km large (200 m-line spaced) grid and a time-domain dipole-dipole induced polarization (IP) survey to better define the Wi-Target on its wholly-owned K2 gold project located in the Elmer Lake area, Itchee-Eeyou James Bay, Québec (n=1 to 6, 25 meter separation). This survey will allow a more precise targeting of the Wi Target for the upcoming late summer-fall drilling program on K2, in strike southwest of Azimut’s Elmer gold discovery.
Dolly Varden – DV ($.275) – $.68 – announced the company’s plans for it’s 2020 exploration season which includes a planned 10,000m diamond drill program; Continue drilling to expand the current 43-101 resource from its current 32.9 million ounces of silver (3,417,000 tonnes grading 300 g/t Ag) in the Indicated category and a further 11.4 million ounces (1,285,300 tonnes grading 277 g/t Ag) in the Inferred category.; focus drilling on high-grade silver targets outside of the mineral resource area that will unlock the upside potential that the Dolly Varden Silver project has to offer.
Cartier Resources – ECR ($.15) – $.255 – announced values of 32.0 g/t Au over 2.0 m included within 16.5 g/t Au over 4.5 m, also included within 7.1 g/t Au over 12.1 m, intersected at a distance of 500 m below the new Zones 5B4-5M4-5NE of the Chimo Mine Property, located 45 km east of Val-d’Or. “These new results indicate that the gold mineralisation is open in all directions below Zones 5B4-5M4-5NE which have been drilled to date from surface to a depth of 1,300 m” commented Philippe Cloutier, President and CEO, adding “growing the dimensions of the cluster of Zones 5B4-5M4-5NE is an important addition to the development potential of the project.”
Eloro Resources – ELO ($.37) – $.80 – announced that its Bolivia subsidiary Minera Tupiza SRL has contracted Empresa Minera Villegas SRL to start underground drill bay preparations required for the 3,500m underground diamond drilling program planned on its Iska Iska Silver-Polymetallic Project in the Potosi Department, southern Bolivia
European Cobalt – EUC (Australia) – (A$.042) – A$.04 – 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) – $.445 – provided an update on the Phase 1 exploration program at its Abriaqui project in Antioquia, Colombia. The Company has completed the preliminary portion of the Phase 1 program. Soil sampling and ground magnetics have been completed and samples and data have been delivered for analysis; the Company is awaiting a final permit to begin the drilling portion of Phase 1. After submission in November the Company expected the permit to be issued in the March time frame. Permit issuance has been impacted by the government shutdown during the COVID crisis, however government offices have restarted operations and the Company is optimistic that the permit should be received shortly.
Geomega Resources – GMA ($.16) – $.16 – announced that Geomega’s patent application US15/578,498 titled, “A system and a method for metallurgical extraction of rare earth elements and niobium,” has been approved for granting by the United States Patent and Trademark Office. “The grant of this patent acknowledges that our unique process has been recognized and protected.” said Kiril Mugerman, President & CEO of Geomega. “The Montviel metallurgy research executed in 2014 and 2015 (See news releases from April 29, 2015 and May 20, 2015) led to these patents, and set the framework for how Geomega operates today committed to lowering the environmental footprint of processes to extract and separate REE, reagent regeneration and minimizing the amount of effluents and solid waste that are generated.
Golden Goliath – GNG ($.06) – $.18 – announced that the initial till sampling and geology portion of the current field exploration program on its Kwai property located in the Red Lake mining district has been completed. The Induced polarization geophysical survey is still in progress. The basal till sampling program on the Kwai property reached bedrock in many locations along this 10 km long section of the Pakwash Fault structure. High quality basal tills stuck to basement bed rock were obtained and bedrock was identified. In addition geological mapping was done and a more definitive geological picture was obtained.
Angus Ventures – GUS ($.32) – $.60 – 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$.082 – 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$23,268/t
Verde AgriTech – NPK ($.455) – $.49 – 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 $792,195, compared to 872,506 in Q1 2019.
Precipitate Gold – PRG ($.125) – $.22 – announced that Barrick (NYSE: GOLD) has begun exploration and fieldwork at Precipitate’s 100% owned Pueblo Grande project in the Dominican Republic. The gold-copper project is located adjacent to Barrick’s Pueblo Viejo, the largest active gold mining operation in Latin America. Barrick has begun review and validation of historic drilling results and geochemical and geophysical data from work conducted by Precipitate and prior operators. Initial work will concentrate on the project’s Lithocap Zone, located west of Barrick’s Pueblo Viejo mining pits and that was the primary focus of Precipitate’s exploration work prior to execution of the earn-in agreement. Barrick plans an initial 2,500 metres of exploration drilling in the Lithocap Zone.
Rockcliff – RCLF ($.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) – $.185 – 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 $0.20 per share.
https://www.rjkexplorations.com/paradis-pond-22-4-kg-drill-core-sample-report/
Scottie Resources – SCOT ($.185) – $.35 – kicked off its fully funded exploration program for 2020 with the mobilization of field crews and equipment to Stewart, BC. Starting at the southern part of the Golden Triangle, crews will conduct a soil sampling and geologic mapping program on the polymetallic Cambria Project located 3 km east of Stewart, BC. The Cambria Project consists of four properties (Black Hills, Ruby Silver, Bitter Creek, and Portland Claims) that are bordered to the east by Ascot Resources “Red Mountain” Project, and to the north by Pretium Resources.
Superior Gold – SGI ($.61) – $.79 – announced results from the ongoing underground diamond drill program focused on reserve and resource expansion at its 100%-owned Plutonic Gold mine in Western Australia. The drilling targeted potential extensions to the gold mineralization in the area between the Baltic and Baltic Deeps Zones; continues to demonstrate potential continuity of mineralization between Baltic and Baltic Deeps Zones; drill hole UDD22310 intersected 40.4 g Au/t over 6.50 metres including 232.0 g Au/t over 0.90 metres; drill hole UDD22309 intersected 12.4 g Au/t over 4.10 metres; mineralization remains open both up and down dip and along strike
Spruce Ridge – SHL ($.06) – .07 – has received preliminary results from a recent helicopter-borne electromagnetic and magnetic survey of the whole Great Burnt-South Pond property; is planning to immediately commence a 3,000 metre program of infill diamond drilling on the Great Burnt Copper Deposit in central Newfoundland. The program is intended to firm up the Indicated and Inferred Mineral Resource estimate on the deposit; certificates of CNC Shares to be paid under the Dividend announced June 23, 2020 will be mailed to shareholders of Spruce Ridge on September 1, 2020
Sun Metals – SUNM ($.225) – $.185 – 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) – $.13 – announced that the release of its annual financial statements for the fiscal year ending March 31, 2020 (the “Annual Financial Statements”) and associated management discussion and analysis (the “MD&A”) will be delayed. The Company will be relying on the 45-day filing and delivery extension for periodic filings required to be made on or before August 31, 2020 as provided by BC Instrument 51-517 – Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (“BCI 51-517”)
American Pacific Mining – USGD ($.155) – $.385 – announced that, further to its news release of April 14, 2020, it has completed the transaction with Madison Metals Inc. and acquired all of the issued and outstanding shares of Broadway Gold Corp. from Madison Metals; the Madison Project is currently under an earn-in, joint venture agreement, whereby Kennecott Exploration Company, part of the Rio Tinto Group may spend $30 million USD to earn up to 70% of the Madison Project.
VR Resources – VRR ($.35) – $.31 – announced that it has successfully closed the recently announced Acquisition Agreement for the Reveille silver property in Nevada and plans to commence exploration on the ground immediately. VR has been evaluating the Reveille property in the field for nearly two years. It covers an historic primary silver camp that dates back to the 1870’s, but lacks any modern exploration or drilling. The following photos and maps are from various field visits, and the integration of private exploration data into our regional database developed during the past 5 years for our epithermal gold exploration in the Big Ten caldera nearby to the northwest
Zephyr Minerals – ZFR ($.24) – $.39 – announced that it has discovered the silver in historic drill holes GC-8 and GC-9 is hosted by the same rare silver mineral that is host to the silver at the Broken Hill and Cannington silver-lead-zinc mines in Australia, as well as a silver enriched variant; the magnetic anomaly associated with the DGM trend is related to the presence of magnetite and magnetic pyrrhotite. At the Cannington mine in Australia (a BHT deposit) the deposit’s magnetic signature is primarily due to the presence of magnetite and minor pyrrhotite in the silver-lead-zinc mineralization.
ENGINEER’S JUNIOR EXPLORATION BLOG
Group Eleven – ZNG ($.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.
——————————————————————————————–
OIL & GAS STOCKS
Severely depressed, question now is, who will survive? and when will the survivors COME BACK?
Stock – (Price When Listed) – Current Stock Price – Dividend Yld
Birchcliff Energy – BIR – ($2.32) – $1.10 1.8% DIV
News News Interview Company Presentation Chart
CREW ENERGY – CR ($.31) – $.30
News News Company Presentation Chart
NuVista Energy – NVA ($2.31) – $.78
News News Company Presentation Chart
Surge Energy – SGY ($1.14) – $.33
News News Company Presentation Chart
Torq Oil & Gas – TOG ($4.49) – $1.68
News News TD Report Company Presentation Chart
TFSA Investment Letter 