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) – $.82 – announced the Company has engaged AMC Mining Consultants (Canada) Ltd. and GR Engineering Services Ltd. to produce a NI 43-101 Technical Report on the Challacollo Silver-Gold project located in Northern Chile. The Company also announces that it intends to rely on BC Instrument 51-517 – Temporary Exemption from Certain Corporate Finance Requirements with Deadlines during the Period from June 2 to August 31, 2020 (“BCI 51-517“) to extend the deadline for filing a National Instrument 43-101 – Standards of Disclosure for Mineral Projects (“NI 43-101“) compliant technical report in respect of the Challacollo project.
Adamera Minerals – ADZ ($.04) – $.09 – announced that deeper penetrating Induced Polarization (IP) on the Cooke Mountain Gold project in Washington State is underway. The survey was recommended by JV partner Hochschild Mining PLC (LON:HOC) to preceed deeper drilling of high-grade gold targets/intercepts from Adamera’s previous drilling. The survey parameters for the IP survey have been tested on east-west and north-south lines over the former Overlook Gold Mine. The survey demonstates that sulfide mineralization related to the deposit appears to extend below 200 metres depth.
1911 Gold – AUMB ($.26) – $.69 – 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) – $.105 – 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) – $.305 – announced that it has received written confirmation of their Declaración de Impacto Ambiental, or a “DIA”, from the Peruvian Ministry of Energy and Mines, for its Huiñac Punta high-grade silver polymetallic project. The DIA is the primary environmental permit required to allow drilling programs to proceed. The 100% owned Huiñac Punta high-grade silver polymetallic project covers an area of twenty sq kms and is located approximately 260 km north-northeast of Lima in the Department of Huanuco, Peru. Elevations at Huiñac Punta range from 3800m to 4400m. The Huiñac Punta project is within the eastern flank of the Mesozoic-aged carbonate-hosted polymetallic mineral belt in north-central Peru about 65 km south-east of the Antamina mine, and about 90 km east of the Company’s Soledad project.
Canada Nickel Company – CNC ($.51) – $1.73 – announced it has amended its agreement with Echelon Wealth Partners Inc., as lead underwriter and sole bookrunner, on behalf of a syndicate of underwriters including Eight Capital and Haywood Securities Inc., to increase the size of the previously announced bought deal offering from approximately $6.5 million to approximately $13 million.
Dore Copper – DCMC ($.85) – $.86 – 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) – $.115 – announced a private offering of up $1,000,000 with a lead order from Palisades Goldcorp Ltd. The Offering will consist of 8,333,333 units of the Company, at the price of $0.12 each. Each Unit will be comprised of one common share of the Company and one Share purchase warrant, each granting the holder the right to purchase one Share of the Company at the price of $0.20, for a period of 36 months from the closing date.
Dolly Varden – DV ($.275) – $.96 – announced an update to the ongoing drilling program targeting high-grade silver mineralization at its flagship Dolly Varden Property, located in northwestern, BC. A second drill rig has arrived on the Property to prioritize discovery-focused exploration drilling along a previously untested trend of alteration and mineralization that strikes north from the high grade Torbrit silver deposit. Additional drilling is also being planned to expand and upgrade the current resources and for future engineering studies. Analytical results from the 2020 Dolly Varden Property drilling program are pending.
Cartier Resources – ECR ($.15) – $.30 – announced an interval of 20.4 g/t Au over 2.0 m included within 18.0 m at 2.7 g/t Au, intersected 200 m below the resources of Zones 5B4-5M4-5NE, which were estimated by GéoPointCom in 2019 (Table 1). The Chimo Mine Property is held 100% by Cartier and is situated 45 km east of the Val-d’Or mining camp.
Eloro Resources – ELO ($.37) – $1.75 – announced that its Bolivian subsidiary Minera Tupiza S.R.L. has commenced the planned 3,500m underground diamond drilling program at Huayra Kasa on its optioned Iska Iska Polymetallic Project in Potosi Department, southern Bolivia. Tom Larsen, President & CEO of Eloro commented: “This program will be the first drilling to ever be carried out on the property and is designed to test the full extent of the mineralized system in and around the Huayra Kasa underground workings. The mineralized/altered zone is exposed in the underground workings over a width of 100m but is likely much more extensive. Drilling will initially test a strike length of approximately 300m to a depth of 100m in the vicinity of the mine workings.”
European Cobalt – EUC (Australia) – (A$.049) – A$.039 – 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) – $.61 – announced that it has received environmental authorization required to commence its maiden drilling program at the Abriaqui project in Antioquia, Colombia. As part of the drilling program, FenixOro will also be providing data and geotechnical information to assist with the construction of upgraded roads for local use. Under the umbrella of its ongoing local initiatives, the Company is very pleased be in a position to provide these benefits at no cost to the community. With the permit in hand the contract with Colombia veteran Logan Drilling has been finalized. The surface owners in all areas to be drilled are members of the local, legal small miner’s cooperative that is FenixOro’s partner in the venture. Access arrangements have also been finalized. Creating access to the drill pads will not require the felling of any trees and only short intervals of non-mechanized trail preparation.
Golden Goliath – GNG ($ .06) – $.31 – announced that the drill permit for the newly generated drill targets has now been approved. All of the planned drill holes are now permitted. The Company will start the drill program on September 8th.
Angus Ventures – GUS ($.32) – $1.32 – 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$.70 – advises that the recent project wide soil geochemical survey at The Sisters Gold Project has identified several zones of anomalous gold. These gold anomaly are consistent with significant magnetic features recently identified by airborne magnetic and radiometric surveys.
Metals X – MLX (Australia) – (A$.076) – A$.08 – 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 spot price of tin currently AUS $25,058/t
NorthIsle Copper and Gold – NCX ($.12) – $.12 – reported that preliminary metallurgical test results demonstrate a significant improvement in recoveries of copper and gold for the Hushamu Deposit at its 100%-owned North Island Project located in British Columbia, Canada. The test work was designed to investigate alternative flotation parameters to improve the recovery rates of copper and gold in the two mineralization types in the Hushamu Deposit. The results demonstrate that the average copper and gold recovery rates improved by 17% and 24% respectively, compared to tests used for the Preliminary Economic Assessment (“PEA”) published in September 2017.
Precipitate Gold – PRG ($.125) – $.30 – announced that the Company is renewing exploration work on its volcanogenic massive sulphide (VMS) gold and copper Juan de Herrera project, located within the Tireo Gold Camp of western Dominican Republic. The Tireo Gold Camp is a highly prospective geological terrain that hosts GoldQuest Mining’s Romero project, Unigold’s Neita/Candelones project, and Newmont’s La Miel project (Haiti)
Quebec Precious Metals – QPM ($.25) – $.28 – reported the remaining drill results at the La Pointe Extension discovery and a near surface discovery at Simon area following the winter diamond drilling program on the 100% owned Sakami Project in Quebec’s Eeyou Istchee James Bay territory. A total of 7,000 m of additional drilling is planned be completed this fall to further extend and define the exploration potential of the La Pointe Extension discovery.
Rockcliff – RCLF ($.07) – $.095 – 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) – $.18 – announced that the Company has intersected kimberlite in six drill holes in the Paradis Pond area of the Bishop Property, located approximately 11 km southeast of Cobalt, Ontario. These new intersections are proximal and visually correspond to RJK’s previously reported kimberlite drill intersections, from the 2019 drilling campaign, which returned 18 micro diamonds varying in colour, and twenty-eight diamond inclusion indicator minerals, from a 22.4 kg (50 pound) sample (News Release April 1, 2020). The kimberlite breccia phase is uniform, varying between 7 m-16 m in true thickness, while appearing to expand to the west. The kimberlite is draped on top of granitic bedrock and was intersected as shallow as 4 m from surface, flanking Paradis Pond. The dimensions drilled thus far represents a 3.75 hectare area.
Royal Road Minerals – RYR ($.39) – $.35 – announced interim drilling results from its diamond drilling campaign at its Luna Roja gold project in northeastern Nicaragua. The initial 3000m follow-up drilling program at Luna Roja is now complete and whilst the Company awaits further drilling results, compiles and interprets geological information, the drilling rig has relocated 16 kilometers to the south of Luna Roja to commence a 1500 meter follow-up drilling program on the Company’s Caribe project
Scottie Resources – SCOT ($.185) – $.39 – announced that it has commenced a 57 km2 helicopter borne concurrent magnetic and electromagnetic surveys (EM), and two induced polarization (IP) survey grids on its Scottie Gold claims in northern BC’s Golden Triangle. CEO Bradley Rourke commented “Scottie Resources continues to aggressively explore and develop the Scottie Gold Mine Project. These geophysical surveys will enhance our technical data and understanding for future drill targeting. Drill progress has been better than expected and over 4,500 metres has been completed to date. Drill results will be released upon receipt.”
Superior Gold – SGI ($.61) – $.84 – 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) – .07 -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) – $.23 – announced that Mr. Abdel (Abby) Badwi has joined the Company as Executive Chairman of the board of directors, along with Mr. Suneel Gupta who has been appointed as VP and COO of the Company. Messrs. Shawn Reynolds and Thomas Hickey have also been appointed to TAG’s board of directors as non-executive directors. In connection with the above appointments, Messrs. Badwi, Reynolds, Hickey and Gupta, along with a consultant, have agreed to purchase, on a non-brokered private placement basis, 6.25 million units (“Units”) at a price of C$0.16 per Unit for aggregate gross proceeds of C$1.0 million.
American Pacific Mining – USGD ($.155) – $.375 – announced that, through its wholly owned subsidiary, American Pacific Mining (US) Inc., it has entered into an earn-in and option to form joint venture agreement in respect of the Company’ Tuscarora Gold Project with Elko Sun Mining Corp., a private British Columbia Company. Warwick Smith, CEO of the Company, commented: “Tuscarora is a high-grade epithermal system that has produced some great results previously so we are pleased to see it receive more exploration in the coming months. This is another strong transaction for American Pacific shareholders that will create value via exploration without us having to use our own treasury.”
VR Resources – VRR ($.35) – $.345 – provided a brief update of exploration completed this summer at its recently acquired Reveille silver-copper property located along the southeastern margin of the Walker Lane mineral belt in west-central Nevada. Detailed geological mapping completed by VR has determined the precise stratigraphic position of mineralization, and importantly the preferred structural controls to hydrothermal fluids not identified or described by previous workers in the district
Group Eleven – ZNG ($.05) – $.095 – announced that it has commenced drilling at the Stonepark zinc project in the Republic of Ireland. Stonepark is a joint venture between Group Eleven (76.56% interest) and Arkle Resources PLC (23.44% interest). Plans for follow-up drilling at the Company’s Carrickittle zinc prospect located on the 100%-interest PG West zinc project in Ireland are nearing completion and will be announced over the next few weeks.
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) – $1.41 1.42% DIV
KELT EXPLORATIONS – KEL ($1.82) – $1.48
MEG ENERGY – MEG ($4.06) – $3.00
NUVISTA ENERGY – NVA ($2.31) – $.70
TORQ OIL & GAS – TOG ($4.49) – $1.43
TAMARACK VALLEY – TVE ($.96) – $.72
WHITECAP RESOURCES – WCP ($5.55) – $2.43 7.03% Div