MUSIC CLIPs FOR THIS WEEK
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) – $.83 – announced that it has entered into a binding Letter of Intent with SSR Mining Inc. to purchase 100% of the Berenguela silver-copper project located in Puno, Peru (“Berenguela”) through the purchase of 100% of SSRM’s shares in the Peruvian holding company Sociedad Minera Berenguela S.A. – Epithermal polymetallic carbonate-replacement deposit; total tenement package of 6,594 hectares; 50 km to Juliaca, and 204 km to Arequipa, both with daily flight connections to Lima; located 6 km from the town Santa Lucia, with rail access to the port of Matarani
Adamera Minerals – ADZ ($.04) – $.11 – announced it has staked 339 claims around the Buckhorn Mine in Washington State. This land (“Buckhorn 2.0”) surrounds the Crown/Kinross patented claims on which the past producing Buckhorn Mine is situated. The area acquired extends more then 10 kilometres to the Canadian-USA border, along the western margin of the Torada Graben. The Company has also leased an additional 38 claims from private claim holders within the project area for a total of about 7,500 acres (30 square km).
1911 Gold – AUMB ($.26) – $.76 – has processed 64,678 tonnes containing approximately 2,276 gold ounces, the average grade of tailings re-processed has been higher than planned, and the Company expects to produce between 4,500 ounces and 5,000 ounces during the 2020 operating season; exploration completed to date includes geological mapping, prospecting, outcrop stripping, channel sampling and surficial geochemistry, helping identify new drill targets for the Phase II exploration drilling program, currently planned for Q4 2020 and Q1 2021.
Macdonald Mines – BMK ($.11) – $.115 – announced that it has launched its Summer 2020 exploration program at its SPJ property, located 20km east of Sudbury Ontario. Drilling has restarted with an initial 2,000 metres of an anticipated 14,000 metres drill program to further define the geometry of the Scadding Deposit with its newly discovered zones and extensions. The summer program includes a campaign of drill holes targeting a series of folds and hinge zones that host the recently discovered high-grade gold mineralization at Scadding
Condor Resources – CN ($.165) – $.31 – announced that it has received written confirmation of their Declaración de Impacto Ambiental, or a “DIA”, from the Peruvian Ministry of Energy and Mines, for its Huiñac Punta high-grade silver polymetallic project. The DIA is the primary environmental permit required to allow drilling programs to proceed. The 100% owned Huiñac Punta high-grade silver polymetallic project covers an area of twenty sq kms and is located approximately 260 km north-northeast of Lima in the Department of Huanuco, Peru. Elevations at Huiñac Punta range from 3800m to 4400m. The Huiñac Punta project is within the eastern flank of the Mesozoic-aged carbonate-hosted polymetallic mineral belt in north-central Peru about 65 km south-east of the Antamina mine, and about 90 km east of the Company’s Soledad project.
Canada Nickel Company – CNC ($.51) – $1.81 – announced an offering of up to 600,000 flow-through common shares at a price of $2.60 per FT Share, for total gross proceeds of approximately $1.5 million. The FT Shares will be offered by way of a best efforts non-brokered private placement to “accredited investors” resident in a Canadian jurisdiction. The gross proceeds of the Offering will be used to fund advancement of the Company’s nickel-cobalt sulphide exploration activities through the incurrence of expenses that are eligible “Canadian Exploration Expenses” which will also qualify as “flow-through mining expenditures”
Dore Copper – DCMC ($.85) – $1.10 – announced that it has entered into an agreement with Canaccord Genuity Corp., on behalf of itself and a syndicate of agents including Red Cloud Securities Inc. in connection with a “best efforts” private placement of up to approximately C$3 million of common shares of the Corporation that will qualify as “flow-through shares”. The Federal Flow-Through Shares will be issued to residents outside of Québec at an issue price of C$1.12 per Federal Flow-Through Share and the Québec Flow-Through Shares will be issued to residents of Québec at an issue price of C$1.20 per Québec Flow-Through Share.
Dios Exploration – DOS ($.095) – $.13 – reported results from data processing of an Induced Polarization survey completed over a 3.2 km long by 700 m to 1.1 km large grid (200 m line spacing) to better define gold WI-Target soon to be drilled on its K2 gold project in Elmer Lake area, James Bay Eeyou-Istchee, Québec. The WI-Target is a non-outcropping 3.6 km long by 150-300 m large prospective conductor previously defined by Airborne geophysics. This conductor is west-southwest striking within felsic volcanics at the western margin of the Kali pluton.
Dolly Varden – DV ($.275) – $.99 – announced that its 10,000 meter discovery-focused and resource expansion drilling program is underway at its flagship Dolly Varden Property, located in northwestern, BC. As the Company’s new technical team finalizes regional exploration targets on the Property, initial drilling is focused on step-out drilling from current resources at the past-producing Torbrit Mine. Company Records of historic mining operations at the Torbrit and Dolly Varden Mines produced average grades of 500 at Torbrit and 1,100 g/t silver at Dolly Varden. Silver mineralization came from Native Silver, Argentiferous Galena and Ruby Silver (pyrargyrite).
Cartier Resources – ECR ($.15) – $.30 – announced that it has closed its previously announced private placement for aggregate gross proceeds of C$9,364,626. A total of 21,778,200 flow-through common shares of the Company at a price of C$0.43 per share, were issued. The Offering was completed through Paradigm Capital Inc.
Eloro Resources – ELO ($.37) – $1.10 – announced that its Bolivian subsidiary Minera Tupiza S.R.L. has completed the three (3) underground drill bays in the Huayra Kasa Mine required for the planned 3,500m underground diamond drilling program on its optioned Iska Iska Polymetallic Project in Potosi Department, southern Bolivia. The Company and contractor Empresa Minera Villegas S.R.L. have implemented safeguards to protect personnel from COVID-19. Minera Tupiza S.R.L. has received clearance from the Government of Bolivia for travel to Tupiza. Drilling will be carried out by Leduc Drilling S.R.L. and is expected to commence in early September.
European Cobalt – EUC (Australia) – (A$.049) – A$.049 – 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) – $.51 – announced results of its first phase soil sampling program at the Abriaqui project in Antioquia, Colombia. As previously reported, FenixOro has discovered three significant gold mineralization types at Abriaqui. The primary target is a sequence of more than 80 high grade, “Buritica style” mesothermal veins outcropping over 800 vertical meters with areas of intervening lower grade stockwork mineralization. FenixOro has also discovered additional targets: Manto-style replacement mineralization up to 25 meters thick; as well as a zone of gold-mineralized, porphyry-style, potassic alteration.
Golden Goliath – GNG ($ .06) – $.195 – announced that a first tranche of $2.22 Million of the recently announced private placement, which was filed with the TSX on July 16, has now received the necessary regulatory approvals. The first Tranche has now closed. The required hold period for those shares and warrants is Nov 28, 2020. Five “Finders” received a total of $46,700.00 in Finders Fees for the entirety of this private placement. The bulk of these funds will be used for the Company’s first drill program on the Kwai property in the Red Lake mining district.
Angus Ventures – GUS ($.32) – $.67 – announced that it has entered into an asset purchase agreement pursuant to which the Company will acquire 17 claims in the Mishibishu Greenstone Belt, Ontario. Under the terms of the Agreement, the vendor of the Claims will receive a cash payment of $50,000 and will be issued 225,000 common shares of Angus in exchange for 100% ownership in the Claims. The Vendor will maintain a 2% net smelter return royalty on production from the Claims, 50% of which can be purchased by the Company for $500,000.
Kalamazoo – KZR (Australia) – (A$.79) – A$.715 – advises that it has been granted Exploration Licence EL007112 adjoining the Company’s Castlemaine Gold Project in the Bendigo Zone of Central Victoria. The Castlemaine Gold Project now comprises three tenures, EL006679 (“Wattle Gully”, ~70km2), EL006752 (“Wattle Gully South”, 218km2) and EL007112 (“Queens”, ~22km2) for a total area of 310km2. Like the rest of the Castlemaine Gold Project this new exploration licence area is considered under-explored as it has not been subjected to modern exploration in recent years and has had only received limited shallow drilling.
Metals X – MLX (Australia) – (A$.076) – A$.083 – announced it has met guidance with production of 7,182 tonnes of tin-in-concentrate for financial year 2019/20 from the Renison Tin Operation (Renison) in Tasmania (guidance was 7,100 – 7,300 tonnes of tin). Renison is 50%-owned by Metals X through the Bluestone Mines Tasmania Joint Venture; production of 7,182 tonnes of tin-in-concentrate (prior year 7,124 tonnes); ore mined 848,906 tonnes at 1.18% Sn (prior year 797,979 tonnes at 1.21% Sn); overall recovery 71.7% Sn (prior year 70.9% Sn3) *Approximate cash price of tin currently AUS$24,618/t
Verde AgriTech – NPK ($.455) – $.68 – announced its financial results for the second quarter, ended June 30, 2020 (“Q2 2020”). The Company recognized revenue of $2,492,586, an increase of 87% compared to $1,329,127 in the second quarter of 2019; production increased by 139% with a total of 80,490 tonnes mined, compared to 33,671 tonnes in Q2 2019; sales increased by 202% with a total of 71,183 tonnes sold, compared to 23,600 tonnes in Q2 2019; the Company generated a net profit of $443,525, compared to a net loss of $222,657 in Q2 2019; gross margin increased by 12%, with a total of 62% in Q2 2020 compared to 50% in Q2 2019.
Precipitate Gold – PRG ($.125) – $.315 – announce results of the first phase surface soil and rock geochemical sampling conducted at the Copey Hill epithermal gold target of the Company’s 100% owned Ponton Project located approximately 25 kilometres (“km”) due east of Barrick’s Pueblo Viejo mining operation and the Company’s Pueblo Grande project in the Dominican Republic; the highlight rock sample returned 53.0 grams per tonne (“g/t”) gold and 43.0 g/t silver from an outcropping 0.4 metre (“m”) wide quartz vein; expansion of the Copey Hill anomaly 100m to the east for a total overall footprint of 1,300m by 1,000m; delineation of two distinct gold-in-soil anomalies within the Copey Hill Zone; measuring 1,000m by 500m, and 900m by 200m respectively.
Quebec Precious Metals – QPM ($.25) – $.27 – reported the results of an induced polarization geophysical survey conducted this summer to the southwest of the La Pointe Extension discovery on the 100% owned Sakami Project in Quebec’s Eeyou Istchee James Bay territory in Quebec
Rockcliff – RCLF ($.07) – $.09 – announced that a 1,400 metre, 4-6 hole drill program will begin in approximately two weeks on its recently discovered high-grade TGR Nickel-PGE (Platinum Group Elements) Prospect located on its 100% owned Tower Property. Additional PGE assay results for TGR were recently received and returned significant rhodium (Rh) as well as ruthenium (Ru), iridium (Ir) and osmium (Os) results. As a result, the NiEq grade across a down hole interval of 2.40 metes increased from 3.82% to 4.93% including 1.25 metres with a NiEq grade increase from 6.79% to 8.84%.
RJK Explorations – RJX.A ($.19) – $.18 – announced that 7 natural micro diamonds, varying in colour from clear to white have been recovered from the 277 kg (611 lb) drill core sample from the KON 1 target drilled earlier this year. Three of the diamonds were chips with a greenish tinge and the other four are white diamond chips and macles. The chips are generally flat with one being triangular shaped, possibly a broken fragment from a larger stone. There are no inclusions in the diamonds recovered. Due to the diamond and indicator mineral results, RJK has plans for follow-up drilling on KON 1, using a drill capable of large diameter coring. The objectives will be to establish the 3D pipe geometry, the geology of the structure and correlate the kimberlite phases to optimize the micro diamond sampling by discrete phases.
Scottie Resources – SCOT ($.185) – $.425 – announced the addition of a second drill rig on its 100% owned Scottie Gold Project. The second drill rig will increase the amount of drilling by 40%, an additional 2,000 metres to the follow up drill campaign. Scottie is now targeting a total of 7,000 metres of drilling during the 2020 summer field season.
Superior Gold – SGI ($.61) – $.79 – announced its financial and operating results for the second quarter 2020. This release should be read in conjunction with the Company’s Management Discussion and Analysis and consolidated financial statements for the quarter ended June 30, 2020 – produced 15,177 ounces of gold, down 7% from the first quarter of 2020 and down 36% from the comparable period in 2019; sold 15,536 ounces of gold at total cash costs of $1,426 per ounce sold and all-in sustaining costs of $1,547 per ounce sold which were below the record realized gold price of $1,608 per ounce sold; operating cash flow before working capital changes of $0.6 million and after the repayment of $1.9 million under the gold loan; net loss for the period of $0.00 per share and adjusted net loss of $0.01 per share; ended the second quarter with $15.6 million in cash
Spruce Ridge – SHL ($.06) – .09 – 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. Previous infill drilling campaigns on the Great Burnt Copper Deposit in 2016 and 2018 resulted in an increase in the Inferred Mineral Resource from 382,000 tonnes of 2.68% Cu to 550,000 tonnes of 2.66% Cu (a 41 percent increase in contained copper from 23.0 to 32.3 million pounds). Following the completion of the acquisition of the Crawford Nickel property by Canada Nickel Company (TSX-V: CNC) from Spruce Ridge and Noble Mineral Exploration Ltd. (TSX-V: NOB), Spruce Ridge retained ground which includes a number of geophysically defined targets with potential for volcanogenic massive sulphide (VMS) and gold mineralization Cu).
Sun Metals – SUNM ($.225) – $.175 – announced that drilling has commenced at Stardust, the Company’s 100% owned, high-grade copper-gold project located in North Central B.C. Three diamond drill rigs are currently onsite and actively drilling. The fully funded 2020 $3.8 million exploration program is focused on expanding the high-grade 421 zone at Stardust, and exploring for similar thick high-grade, massive sulphide zones that this system is known for. The drill program is anticipated to run until early October and consist of 12 – 16 holes. The program design will remain flexible to allow the exploration team to follow up on successful results. Initial drilling is focused on expanding the 421 zone, including two rigs on the highly prospective and shallower southern up-plunge extension of the zone near hole 453 and on completing hole 455 which was not finished during the 2019 campaign and is targeting the northern down plunge extents of the zone.
**TAG Oil – TAO ($.05) – $.14 – provided the following corporate update: Further to TAG’s release dated June 29, 2020, the Company expects that its annual filings for the fiscal year ending March 31, 2020 will be filed on or around August 13, 2020; TAG’s current cash balance stands at ~C$15 million, with working capital at ~C$14.8 million; TAG has received a total of C$0.45 million in royalty payments from Tamarind Resources Pte. Ltd. (“Tamarind”), which will increase by C$132,000 upon receipt of the next completed quarterly payment for the period ended June 30, 2020. Future royalty payments will continue to be paid on a quarterly basis; TAG has received a total of US$0.5 million in event specific milestone payments from Tamarind and expects to receive a US$1 million milestone payment from the recent achievement of 650 mboe of cumulative production from Cheal after October 1, 2018. Up to US$3.5 million in future event specific payments will remain payable on Tamarind achieving certain milestones; TAG’s operations over its three 100% controlled blocks (PL17, ATP 2037 and ATP 2038) covering over 275,000 acres in the Surat Basin of Australia are ongoing. Production at PL17 has been temporarily shut-in due to COVID-19 precautionary measures, but production is expected to be fully back online in the near term. TAG is also continuing to explore strategic partnerships and opportunities for the Australian assets and discussions with interested parties are ongoing.
American Pacific Mining – USGD ($.155) – $.405 – announced that, through its wholly owned subsidiary, American Pacific Mining (US) Inc., it has entered into an earn-in and option to form joint venture agreement in respect of the Company’ Tuscarora Gold Project with Elko Sun Mining Corp., a private British Columbia Company. Warwick Smith, CEO of the Company, commented: “Tuscarora is a high-grade epithermal system that has produced some great results previously so we are pleased to see it receive more exploration in the coming months. This is another strong transaction for American Pacific shareholders that will create value via exploration without us having to use our own treasury.”
VR Resources – VRR ($.35) – $.33 – announced that it has successfully closed the recently announced Acquisition Agreement for the Reveille silver property in Nevada and plans to commence exploration on the ground immediately. VR has been evaluating the Reveille property in the field for nearly two years. It covers an historic primary silver camp that dates back to the 1870’s, but lacks any modern exploration or drilling. The following photos and maps are from various field visits, and the integration of private exploration data into our regional database developed during the past 5 years for our epithermal gold exploration in the Big Ten caldera nearby to the northwest
Zephyr Minerals – ZFR ($.24) – $1.07 – is pleased to report the results of the previously announced hearing held in Denver. The Colorado Mines and Lands Reclamation Board has ruled in Zephyr’s favour upholding the previously approved Notice of Intent by the Colorado Department of Mines Reclamation and Safety. Zephyr is now cleared to proceed with its 2020 drilling program on its Broken Hill Type silver-lead-zinc targets in the El Plomo section of its Dawson-Green Mountain Property. Mobilization will begin next week. Initial steps will be to erect a wooden drill platform followed with drill setup. It is anticipated the drill will start turning in early August
Group Eleven – ZNG ($.05) – $.08 – announced the closing of its non-brokered private placement, initially announced on July 9, 2020 and subsequently increased on July 21, 2020, for total proceeds of $1,550,000 for the issuance 25,833,333 units at a price of $0.06 per unit. All currency is denominated in Canadian dollars. Pursuant to its existing rights to maintain a pro rata position in the Company, Glencore Canada Corporation has entered into a subscription agreement with the Company where it has subscribed for 6,825,900 units of the Offering, for gross proceeds of $409,554.
OIL & GAS STOCKS
ALL HAVE BEEN Severely depressed, wHICH ONES WILL RECOVER?
Stock – (Price When Listed) – Current Stock Price – Dividend Yld
Birchcliff Energy – BIR ($2.32) – $1.51 1.3% DIV
KELT EXPLORATIONS – KEL ($1.82)
MEG ENERGY – MEG ($4.06) – $4.17
NUVISTA ENERGY – NVA ($2.31) – $.87
TAMARACK VALLEY – TVE ($.96) – $1.05
TORQ OIL & GAS – TOG ($4.49) – $2.08
WHITECAP RESOURCES – WCP ($5.55) – $2.80 6.1% Div