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
NOTE: STOCKS IN RED HAVE HAD SUBSTANTIAL APPRECIATION
Stocks (Stock Price When Listed) Current Stock Price Update
Aftermath Silver – AAG ($.285) – $.88 – announced the Company has engaged AMC Mining Consultants (Canada) Ltd. and GR Engineering Services Ltd. to produce a NI 43-101 Technical Report on the Challacollo Silver-Gold project located in Northern Chile. The Company also announces that it intends to rely on BC Instrument 51-517 – Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (“BCI 51-517“) to extend the deadline for filing a National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) compliant technical report in respect of the Challacollo project.
Adamera Minerals – ADZ ($.04) – $.105 – announced that deeper penetrating Induced Polarization (IP) on the Cooke Mountain Gold project in Washington State is underway. The survey was recommended by JV partner Hochschild Mining PLC (LON:HOC) to preceed deeper drilling of high-grade gold targets/intercepts from Adamera’s previous drilling. The survey parameters for the IP survey have been tested on east-west and north-south lines over the former Overlook Gold Mine. The survey demonstates that sulfide mineralization related to the deposit appears to extend below 200 metres depth.
1911 Gold – AUMB ($.26) – $.79 – announced that it has granted a total of 760,000 options to purchase common shares of the Company to officers, directors and employees pursuant to the Company’s Share Option Plan. Such options have an exercise price of $0.78 per common share and expire on August 27, 2025. The options vest as to one-third immediately and one-third after the first and second anniversaries of the date of grant. The Company also announces that further to its press release of July 23, 2020, David Christensen was elected as a director of 1911 Gold along with the other management nominees at the annual general meeting of shareholders that was held on August 26, 2020.
Macdonald Mines – BMK ($.11) – $.11 – announced that, it has executed an agreement with Noble Mineral Exploration Inc. (TSXV:NOB) to sell all of MacDonald’s interest in the Holdsworth gold property, located 25 kilometres northeast of Wawa, Ontario in Corbiere and Esquega Townships. As payment for the Property, Noble will issue to MacDonald 4,000,000 common shares of Noble, as well as 2,000,000 warrants expiring 3 years after issuance and exercisable at $0.15 per common share of Noble.
Condor Resources – CN ($.165) – $.295 – announced that it has received written confirmation of their Declaración de Impacto Ambiental, or a “DIA”, from the Peruvian Ministry of Energy and Mines, for its Huiñac Punta high-grade silver polymetallic project. The DIA is the primary environmental permit required to allow drilling programs to proceed. The 100% owned Huiñac Punta high-grade silver polymetallic project covers an area of twenty sq kms and is located approximately 260 km north-northeast of Lima in the Department of Huanuco, Peru. Elevations at Huiñac Punta range from 3800m to 4400m. The Huiñac Punta project is within the eastern flank of the Mesozoic-aged carbonate-hosted polymetallic mineral belt in north-central Peru about 65 km south-east of the Antamina mine, and about 90 km east of the Company’s Soledad project.
Canada Nickel Company – CNC ($.51) – $2.08 – announced additional encouraging results from infill drilling on the Main Zone at its Crawford Nickel-Cobalt Sulphide project. “Our infill drilling program continues to deliver outstanding results. The second higher grade resource area in the western end of the Main Zone identified in our previous infill release has been further confirmed by these new holes. These higher grade resource areas will be the initial focus of the mine plan in the Preliminary Economic Assessment currently underway and expected to be completed by year-end,” said Mark Selby, Chair and CEO of Canada Nickel. “We have now completed the final three in-fill holes for the resource update and we are currently drilling the follow up holes on the previously reported excellent PGM results from hole CR20-32 (three separate intersections including 2.6 g/t PGM over 7.5 metres) and will begin testing several other prospective geophysical nickel targets on the several kilometres of the Crawford structure which remain untested.”
Dore Copper – DCMC ($.85) – $1.01 – announced that it has closed its previously announced “best efforts” brokered private placement, pursuant to which the Corporation sold an aggregate of 2,662,072 common shares in the capital of the Corporation that will qualify as “flow-through shares” for aggregate gross proceeds of C$3,121,476.64, including partial exercise of the agents’ option. The Flow-Through Shares were issued in two tranches with the first tranche consisting of 1,749,450 Flow-Through Shares issued to residents of Québec at a price of C$1.20 per Flow-Through Share for aggregate gross proceeds of C$2,099,340 and the second tranche consisting of 912,622 Flow-Through Shares issued to residents outside of Québec at a price of C$1.12 per Flow-Through Share for aggregate gross proceeds of C$1,022,136.64.
Dios Exploration – DOS ($.095) – $.125 – reported signing an agreement with a private Australian company allowing the latter to acquire an interest in the 33 Carats-Bohier property located along the Upper Eastmain River in the Otish Mountains region of Quebec, in James Bay Eeyou-Istchee. The buyer can earn a 70% interest in this property over a five-year period with payments of $ 220,000 and exploration work totaling $ 1,400,000. Once the 70% interest is obtained, the buyer can obtain an additional interest of 15% following the preparation by the buyer of a preliminary economic study of the property.
Dolly Varden – DV ($.275) – $1.05 – announced that it has closed its previously announced private placement of units of the Company pursuant to which the Company issued 14,084,500 Units at a price of $0.71 per Unit for aggregate gross proceeds of approximately $10,000,000. The Offering was led by Mackie Research Capital Corporation, as sole bookrunner, and Eventus Capital Corp. as co-lead agents.
Cartier Resources – ECR ($.15) – $.315 – announced an interval of 20.4 g/t Au over 2.0 m included within 18.0 m at 2.7 g/t Au, intersected 200 m below the resources of Zones 5B4-5M4-5NE, which were estimated by GéoPointCom in 2019 (Table 1). The Chimo Mine Property is held 100% by Cartier and is situated 45 km east of the Val-d’Or mining camp.
Eloro Resources – ELO ($.37) – $1.30 – announced that its Bolivian subsidiary Minera Tupiza S.R.L. has completed the three (3) underground drill bays in the Huayra Kasa Mine required for the planned 3,500m underground diamond drilling program on its optioned Iska Iska Polymetallic Project in Potosi Department, southern Bolivia. The Company and contractor Empresa Minera Villegas S.R.L. have implemented safeguards to protect personnel from COVID-19. Minera Tupiza S.R.L. has received clearance from the Government of Bolivia for travel to Tupiza. Drilling will be carried out by Leduc Drilling S.R.L. and is expected to commence in early September.
European Cobalt – EUC (Australia) – (A$.049) – A$.041 – 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) – $.56 – announced that it has received the results and analysis of the data from a recently completed ground magnetometry survey at its Abriaqui Project in Colombia. The principal target at Abriaqui is a series of over 80 high grade, Buritica-style gold veins. These veins, which have been worked for over 80 years by Fenix’ partner, a local mining cooperative, will be the primary focus of the Company’s upcoming 6000m maiden drill program. Additionally, the potential for porphyry-style gold mineralization was recognized earlier this year with the discovery of a small surface outcrop of magnetite-bearing potassic alteration. The outcrop sampled up to 1.1 grams per tonne gold which is representative of the grade in the better porphyry gold systems in Colombia and throughout the world.
Golden Goliath – GNG ($ .06) – $.23 – announced that the drill permit for the newly generated drill targets has now been approved. All of the planned drill holes are now permitted. The Company will start the drill program on September 8th.
Angus Ventures – GUS ($.32) – $1.19 – 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$.67 – advises that the recent project wide soil geochemical survey at The Sisters Gold Project has identified several zones of anomalous gold. These gold anomaly are consistent with significant magnetic features recently identified by airborne magnetic and radiometric surveys.
Metals X – MLX (Australia) – (A$.076) – A$.083 – announced that it has now executed a formal Farm-in and Joint Venture Agreement with IGO Limited over the Company’s Paterson Project, which surrounds, but does not include the Nifty Copper Operation or the Maroochydore Copper Project. *Approximate cash price of tin currently AUS $24,163/t
NorthIsle Copper and Gold – NCX ($.12) – $.10 – reported that preliminary metallurgical test results demonstrate a significant improvement in recoveries of copper and gold for the Hushamu Deposit at its 100%-owned North Island Project located in British Columbia, Canada. The test work was designed to investigate alternative flotation parameters to improve the recovery rates of copper and gold in the two mineralization types in the Hushamu Deposit. The results demonstrate that the average copper and gold recovery rates improved by 17% and 24% respectively, compared to tests used for the Preliminary Economic Assessment (“PEA”) published in September 2017.
Precipitate Gold – PRG ($.125) – $.31 – announced results of follow up infill surface soil and rock geochemical samples collected from the Copey Hill epithermal gold target of the Company’s 100% owned Ponton Project in the Dominican Republic. After recently reporting a 53.0 grams per tonne gold-in-rock sample* from the Copey Hill Zone, field crews returned to the vicinity to conduct additional detailed infill sampling in the surrounding area where the latest 73 rock samples returned multiple additional high-grade gold and silver results, including individual highlight values up to 17.0 g/t gold and 37.0 g/t silver with a total of 30 rock samples ranging from 0.5 g/t gold to 17.0 g/t gold. Additionally, analytical results for the 171 soil samples collected have refined the contour of the soil anomaly and report a high value of 0.7 g/t gold.
Quebec Precious Metals – QPM ($.25) – $.26 – reported the results of an induced polarization geophysical survey conducted this summer to the southwest of the La Pointe Extension discovery on the 100% owned Sakami Project in Quebec’s Eeyou Istchee James Bay territory in Quebec
Rockcliff – RCLF ($.07) – $.105 – announced that an affiliate of Kinross Gold Corporation has commenced a Summer 2020 drill program at Rockcliff’s Laguna Gold Property in Snow Lake, Manitoba. The planned 5,000-6,000 m drill program will follow up on high-grade gold assay results from the Winter 2020 drill program. Pursuant to the July 2018 option agreement, Kinross may earn up to a 70% interest in Laguna and the Lucky Jack gold properties by spending $5,500,000 over the 6 year term of the option agreement.
RJK Explorations – RJX.A ($.19) – $.17 – announced that the Company has intersected kimberlite in six drill holes in the Paradis Pond area of the Bishop Property, located approximately 11 km southeast of Cobalt, Ontario. These new intersections are proximal and visually correspond to RJK’s previously reported kimberlite drill intersections, from the 2019 drilling campaign, which returned 18 micro diamonds varying in colour, and twenty-eight diamond inclusion indicator minerals, from a 22.4 kg (50 pound) sample (News Release April 1, 2020). The kimberlite breccia phase is uniform, varying between 7 m-16 m in true thickness, while appearing to expand to the west. The kimberlite is draped on top of granitic bedrock and was intersected as shallow as 4 m from surface, flanking Paradis Pond. The dimensions drilled thus far represents a 3.75 hectare area.
Royal Road Minerals – RYR ($.39) – $.36 – announced the appointment of Liz Wall to the role of Executive Director Sustainability. Liz has been a Director of Royal Road Minerals since May 2019. In her previous role as Director, Liz maintained crucial oversight of the Company’s policies relating to its sustainability commitments in both Colombia and Nicaragua.
Scottie Resources – SCOT ($.185) – $.395 – announced the addition of a second drill rig on its 100% owned Scottie Gold Project. The second drill rig will increase the amount of drilling by 40%, an additional 2,000 metres to the follow up drill campaign. Scottie is now targeting a total of 7,000 metres of drilling during the 2020 summer field season.
Superior Gold – SGI ($.61) – $.82 – 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 -announced an update to the dividend-in-kind of 2,500,000 of the 10,600,000 common shares of Canada Nickel Company Inc. (TSXV: CNC) held by Spruce Ridge, previously announced on June 23, 2020 and June 26, 2020. Following the announcement of the Dividend, a number of outstanding warrants to purchase common shares of the Company were exercised prior to the close of business on July 6, 2020 (the “Record Date”). Based upon the number of Spruce Ridge Shares outstanding as of the Record Date, and ignoring the effect of rounding for fractional interests, each one (1) Spruce Ridge Share held on the Record Date will entitle the holder to receive approximately 1.862% of one (1) CNC Share.
Sun Metals – SUNM ($.225) – $.19 – announced a new Exploration Agreement for Stardust, a project located within the traditional lands of Takla in northcentral B.C. To date, nine diamond drill holes have been completed and 1,397 drill core samples have been shipped to the lab. In total, 6,439 metres of drilling have been achieved during the 2020 drill campaign at Stardust. Completed holes targeted: the highly prospective and shallower southern up-plunge extension of the zone near hole 453; hole 455 which was not finished during the 2019 campaign and focuses on the northern down-plunge extents of the zone; vertically below the 421 zone exploring for a vertical feeder component to the mineralization. Three diamond drill rigs remain onsite and are actively drilling.
**TAG Oil – TAO ($.05) – $.14 – reported the filing of its first quarter results for the interim period ending June 30, 2020. Highlights over the period include: As at June 30, 2020, the Company had $15.0 million (March 31, 2020: $41.5 million) in cash and cash equivalents and $17.4 million (March 31, 2020: $43.7 million) in working capital; On April 14, 2020, a return of capital in the amount of $0.30 per common share (~$25.6 million in cash) was paid to all shareholders of record of the common shares of the Company on March 27, 2020; TAG has received a total of C$0.58 million in royalty payments from Tamarind Resources Pte. Ltd. following receipt of C$132,000 for the quarterly payment period ended June 30, 2020. Future royalty payments will continue to be paid on a quarterly basis; TAG has received a total of US$0.55 million in event specific milestone payments from Tamarind and expects to receive the balance of the US$1 million milestone payment payable from the recent achievement of 650 mboe of cumulative production from Cheal in installment payments over the next 12 months, with the next payment of US$50,000 due on August 31, 2020. A further US$3.5 million in future event specific payments remains payable on Tamarind achieving certain milestones.
American Pacific Mining – USGD ($.155) – $.33 – announced that, through its wholly owned subsidiary, American Pacific Mining (US) Inc., it has entered into an earn-in and option to form joint venture agreement in respect of the Company’ Tuscarora Gold Project with Elko Sun Mining Corp., a private British Columbia Company. Warwick Smith, CEO of the Company, commented: “Tuscarora is a high-grade epithermal system that has produced some great results previously so we are pleased to see it receive more exploration in the coming months. This is another strong transaction for American Pacific shareholders that will create value via exploration without us having to use our own treasury.”
VR Resources – VRR ($.35) – $.305 – announced that it has successfully closed the recently announced Acquisition Agreement for the Reveille silver property in Nevada and plans to commence exploration on the ground immediately. VR has been evaluating the Reveille property in the field for nearly two years. It covers an historic primary silver camp that dates back to the 1870’s, but lacks any modern exploration or drilling. The following photos and maps are from various field visits, and the integration of private exploration data into our regional database developed during the past 5 years for our epithermal gold exploration in the Big Ten caldera nearby to the northwest
Group Eleven – ZNG ($.05) – $.10 – 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) – $1.66 1.2% DIV
KELT EXPLORATIONS – KEL ($1.82) – $1.62
MEG ENERGY – MEG ($4.06) – $3.74
NUVISTA ENERGY – NVA ($2.31) – $.82
TORQ OIL & GAS – TOG ($4.49) – $1.82
TAMARACK VALLEY – TVE ($.96) – $.93
WHITECAP RESOURCES – WCP ($5.55) – $2.53 6.8% Div