• Analyst Provides Early Glimpse at Gold Major After Merger

    Analyst Provides Early Glimpse at Gold Major After Merger

    Source: Streetwise Reports 02/21/2019 A Haywood report presented Q4/18 and full-year 2018 results pre-merger and 2019 guidance post-merger for this miner.In a Feb. 14 research note, analyst Kerry Smith reported Barrick Gold Corp.'s (ABX:TSX; GOLD:NYSE) 2018 financials were a "slight miss," but 2019 guidance is "in line with our expectations." Smith summarized the salient figures. Barrick's 2018 cash flow was $1.94 billion, or $1.66 per share ($1.66/share). This was slightly below the Haywood and consensus forecasts of $1.80 and $1.72/share, respectively. Adjusted earnings for 2018 were $0.35/share, on par with the consensus forecast of the same amount. Concerning Q4/18 production, output from Barrick's pre-merger assets was 1.26 million ounces (1.26 Moz) at an all-in sustaining cost (AISC) of $788 per ounce ($778/oz), which was 3% below Haywood's projected $815/oz. Full year-2018 production totaled 4.53 Moz at an AISC of $806/oz. In comparison, the new Barrick's production guidance for 2019 is 5.1–5.6 Moz at a cash cost of $650–700/oz and an AISC of $870–920/oz. Those numbers fit with Haywood's projections for this year—5.5 Moz production at an average cash cost of $655/oz and an AISC of $875/oz. Based on those numbers, the gold miner should generate cash flow of $1.65/share in 2019. At year-end 2018, Barrick's cash balance was $1.57 billion. Following the Jan. 1, 2019, close of the merger with Randgold, it was $2.3 billion. The company's debt is $5.7 billion, and its targeted quarterly dividend is $0.04/share. Regarding the merging of Barrick and Randgold, Smith highlighted that new CEO Mark Bristow and the other executives are "pushing ahead," and beginning to integrate the operating teams. "Execution of their vision," Smith indicated, "will be the next medium-term deliverable," now that the balance sheet is solid. Management intends to reduce costs, grow via exploration and deliver a sustainable, increasing dividend. They have an "enviable track record of disciplined growth and operating skills, and the biggest risk is transferring this model into a much larger organization," the analyst added. Now that Bristow is CEO, Barrick's stock has begun trading at a multiple, Smith noted. Therefore, Haywood, in its model of the Buy-rated miner, increased its multiple, which led to a higher target price on Barrick, $19/share versus $18. "We recommend accumulating shares," added Smith. Sign up for our FREE newsletter at: www.streetwisereports.com/get-news Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following company mentioned in this article is a billboard sponsor of Streetwise Reports: None. Click here for important disclosures about sponsor fees. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above ...read more
  • Canadian Minerals Firm to Start Drill Program at Mexico Project

    Canadian Minerals Firm to Start Drill Program at Mexico Project

    Source: Streetwise Reports 02/21/2019 The new campaign follows the 2018 release of an NI 43-101 resource update for the asset. Silver Bull Resources Inc. (SVB:TSX; SVBL:NYSE.MKT) announced in a news release it will soon commence an 8,000-meter surface drill program at its Sierra Mojada project in Coahuila, Mexico, which is highly prospective for silver and zinc. According to the company, the goal of the drill program is to "target a series of the sulphide extension at depth of the main deposit already defined at Sierra Mojada as well as a series of never before tested targets within the wider area." The company contracted Major Drilling de Mexico to carry out the work, which will first involve drilling in four historical mining areas of the property. Specifically, drilling will target the sulphide extension at depth of the already-defined main deposit along with untested spots in a broader area. Drilling will start once Silver Bull has the required permits, likely in March. The company also recapped highlights of an "extremely successful 2018 for Silver Bull which was marked by a number of key milestones." The milestones included a 70/30 joint venture with South32, where South 32 must contribute a minimum of $10 million for exploration over four years; an updated NI 43-101 resource on the oxide mineralization already defined at Sierra Mojada; closing of a private placement for gross proceeds of US$3.78 million; and fieldwork that included geophysics, mapping and sampling, and underground surveying. Read what other experts are saying about: Silver Bull Resources Inc. Sign up for our FREE newsletter at: www.streetwisereports.com/get-news Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following company mentioned in this article is a billboard sponsor of Streetwise Reports: Silver Bull Resources. Click here for important disclosures about sponsor fees. As of the date of this article, an affiliate of Streetwise Reports has a consulting relationship with Silver Bull Resources. Please click here for more information. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each ...read more
  • Miner 'Nears the Finish Line' with Construction of Gold Mine Start-Up

    Miner 'Nears the Finish Line' with Construction of Gold Mine Start-Up

    Source: Streetwise Reports 02/21/2019 This Canadian company's current production, and the impact its new Nevada operation will have on the numbers, were addressed in a ROTH Capital Partners report.In a Feb. 8 research note, analyst Jake Sekelsky reported McEwen Mining Inc. (MUX:TSX; MUX:NYSE ) should reach first production by the end of February 2019 at Gold Bar, its open-pit, heap-leach operation in central Nevada. Currently, McEwen has placed 150,000 tons of mineralized material on the pad at Gold Bar, and initial leaching work is in progress. The company intends to attain steady state production by the end of March. ROTH expects Gold Bar to produce just under 53,000 ounces (53 Koz) of gold in 2019 and about 72 Koz in 2020. Sekelsky noted that in 2019 the output from Gold Bar should offset the expected drop in production from El Gallo, where mining is "concluding with residual leaching activities." Production at El Gallo in 2018 was 39,106 ounces (oz) of gold equivalent (Au eq). ROTH anticipates production at Black Fox and San José to stay about the same. In 2018, those numbers were 48,848 oz of Au eq from Black Fox and 87,607 oz of Au eq from San José. Overall, ROTH forecasts a "year-over-year consolidated production increase of 15% to just under 198 Koz Au eq, primarily driven by Gold Bar." Along with the ramp-up at Gold Bar, this year McEwen will likely concentrate on exploration at Black Fox and its Timmins assets, wrote Sekelsky, using funds from the $15 million flow-through financing that closed in Q4/18 to do so. ROTH anticipates McEwen might leverage the excess capacity at the Black Fox mill should additional exploration in the region be successful. "We view this as a key driver of growth for the company over the next year," Sekelsky commented. ROTH has a Buy rating and a US$3 per share price target on McEwen Mining, whose stock is trading at around US$1.92 per share. Sign up for our FREE newsletter at: www.streetwisereports.com/get-news Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result ...read more
  • NuLegacy Gold Transforms Understanding of Its 108-sq-km Red Hill Property

    NuLegacy Gold Transforms Understanding of Its 108-sq-km Red Hill Property

    Source: Peter Epstein for Streetwise Reports 02/19/2019 Peter Epstein of Epstein Research discusses a gold explorer's most recent news and explains why it could be transformational for the company.Every once in a while, one comes across a press release that is so informative and well done, that it really stands out. I thought that NuLegacy Gold Corporation's (NUG:TSX.V; NULGF:OTCPK) press release of February 11 was one of the best I've read in a long, long time. However, it was also fairly technical in places. Therefore, I am writing this article to reiterate the important news, and to dumb down the technical jargon! To help me in the latter part of my mission, I had a lengthy conversation with NuLegacy's CEO James Anderson. With US$ gold futures approaching a one-year high at US$1,332/oz, (investing.com), NuLegacy Gold's (TSX-V: NUG) / (OTCQX: NULGF) share price could start to gain some traction. Notice that Chairman Albert Matterbought 250,000 shares in the open market on February 13. The highlight of the 2018 drill program was core hole SR18-02C, which returned 8.7m of 16.9 g/t gold and, importantly, it extended the Serna zone by 100m (330 ft) to the west. However, the title of the press release was "NuLegacy Transforms Red Hill," and not due to this terrific drill hole. Ed Cope, NuLegacy's Director of Evaluations & Acquisitions, commented, "This is a very significant result because anytime you get ½ ounce gold over 30 feet in a Carlin system, it suggests there was a robust hydrothermal system at work capable of producing a significant Carlin-type deposit. Our job, as exploration geologists, is to find the high-grade core of this deposit—and the transformational geologic work completed at the Red Hill property in 2018 will help us to achieve that goal." NuLegacy Gold provided a review of its successful 2018, widely spaced fall/winter drill program on the large 108 sq km Red Hill property in the Cortez Trend of north central Nevada, and gave a brief preview of H1 2019 drilling. At the beginning of 2018, the company performed a massive re-logging of all 223 previous drill holes (54,000m) as well as reinterpreting previously collected geochemical and geophysical data. Management pointed out that they are fortunate to have the Northern Nevada Rift on the western portion of Red Hill, but that it has been a challenge, as the deposition of lava covers a lot of the gold mineralization that the company has been searching for and discovering. In speaking with CEO James Anderson, I learned that the Northern Nevada Rift is an extremely large fissure in the mantle of the earth that extends ~30 miles south of NuLegacy's property, all the way north into Idaho. For millions of years, lava flowed from this fissure. That left a thick layer of basalt all over Nevada. This fact is important later on. (See map below.) So, the basalt from the Northern Nevada Rift covers areas where NuLegacy is ...read more
  • Prospect Generator Plans to Expand Jurisdictions

    Prospect Generator Plans to Expand Jurisdictions

    Source: Maurice Jackson for Streetwise Reports 02/19/2019 John-Mark Staude, president and CEO of Riverside Resources, talks with Maurice Jackson of Proven and Probable about successes in 2018 and the outlook for 2019.Maurice Jackson: Joining us for a conversation is Dr. John-Mark Staude, the president and CEO of Riverside Resources Inc. (RRI:TSX.V; RVSDF:OTCQB), where knowledge is golden. Dr. Staude, welcome to the show, sir. John-Mark Staude: Thank you, Maurice. Maurice Jackson: We brought you on today to highlight some of Riverside Resources successes of last year and the company's outlook for 2019. But before we begin, for first time listeners who is Riverside Resources? John-Mark Staude: Riverside is a prospect generator. We've been working for 12 years, finding projects and finding partners through the prospect generator business. We've been able to expose ourselves to great upside while limiting the downside risk. Maurice Jackson: You referenced that you are a prospect generator. There's a lot of ambiguity regarding prospect/project generators, therefore speculators often overlook them in their portfolio. What type of competitive advantages does a shareholder have with a project generator over traditional exploration companies? John-Mark Staude: I think the first thing is you've got a tight share structure, key that other people are spending the money. The second is you get a lot of shots, multiple different projects going simultaneously. Third is you don't have the management teams that have to continually go back and refinance, so they can be focused on discovery for the shareholders. Those three things make prospect generators one of the better ways to invest in mineral exploration. Maurice Jackson: Let's revisit 2018 and share some of the successes of Riverside Resources that will serve as catalysts for 2019. John-Mark Staude: I think the first thing was that we were able to leverage off of our previous work on copper, so that in 2019 we'll be able to generate new big strategic alliances. I think the second thing was we signed a letter of intent with Sinaloa Resources, and now in 2019 we'll have the definitive agreement and the go forward drill program. I think a third thing was the work that we did on Cecilia. High-grade gold mineralization, very good geology. Now in 2019 we can see drilling. So we have lots of catalysts in 2019. We're really excited about this coming year. Maurice Jackson: Speaking of 2019, let's discuss the outlook for this year. What is new and what does Riverside Resources have planned this year? John-Mark Staude: I believe one of the key things is a new strategic alliance. Getting a strategic partner will be awesome, and I think we have that in our sights. I think the second thing will be drilling. We have now got a definitive agreement progressing with Sinaloa Resources, and we'll have additional new assets added into the portfolio. We'll also diversify beyond Mexico. We've done well in Mexico, but we've also been successful previously in porphyry ...read more
  • The Importance of Being Prudent (and Using Stop-Loss Orders)

    The Importance of Being Prudent (and Using Stop-Loss Orders)

    Source: Michael Ballanger for Streetwise Reports 02/19/2019 Sector expert Michael Ballanger describes his investment strategies in light of recent stock market moves.A few weeks ago, I published one of my more noteworthy missives entitled "The Time to Be Short (Again) Has Arrived," in which I advanced the notion that the level of the 200-day moving average for the S&P 500 (2,742) was about as good a level to exit the market, if long, or an opportunity to reestablish shorts, if flat. After a particularly profitable December, I went into the New Year 2019 cashed up and ready for another shorting opportunity in the S&P and Goldman Sachs. I decided to take a stab at a few SPY puts on Feb. 6, with the market at 2,738, and warned that a "2-day close above 2,750" was my stop-loss point. It was a moderately good call, in that the S&P immediately tanked to 2,685 but has since reversed and in the absence of any tweets or e-mails or missives suggesting anything resembling "cover all shorts," I was officially stopped out of the S&P short on Friday morning on the opening at 2,761. Prior to Monday's action, the S&P only had one closing above 2,750 (Feb. 13 at 2,753), spent most of Valentine's Day between 2,732 and 2,753, but then exploded due to positive trade news (meaning rumors to the positive). We sold the S&P at 2,738; we covered at 2,761; and now at 2,775, I am looking to reestablish the short on the S&P once the Relative Strength Index (RSI), now 69.01, moves into the 70s, which it should next week. While the histograms appear somewhat subdued, the MACD indicator is now as wildly overbought as I have seen it in quite some time. While I was stopped out for a modest hit on Friday, like a pitbull on a bone I am looking to take another stab at the short side. I still consider this to be a textbook bear market rally, with a retest of the December lows in store before new highs are achieved in the second half of 2019. However, as I have been writing since the lows on Christmas Eve, the most powerful of all financial narcotics is "fear" (of missing out) which, along with its older brother "greed," is incubated in the most powerful meth lab in existence, the bear market rally. Only time will tell whether the algobots' programming will agree with my assessment, but once thing is certain: this rally is one mother of an opium den of illusory hope and it is sucking a great many investors into that familiar "Fed's got our backs!" complacency. The big story for me this week was not the manipulations and machinations of the price managers on Wall Street in rescuing the "Great Bull Market," but rather the abrupt about-face in the precious metals markets in the face of ...read more
  • Gold Could Be Building to Enter 'Major Growth Stage'

    Gold Could Be Building to Enter 'Major Growth Stage'

    Source: Clive Maund for Streetwise Reports 02/18/2019 Technical analyst Clive Maund charts gold and explains why he believes it is preparing to break above the key $1,400 level.Gold has been turned back so many times in recent years from the strong resistance approaching the $1,400 level, that most investors have now been well trained, like Pavlov's dog, to expect it like clockwork, and as we know, it is just when this mindset prevails that gold is likely to surprise the majority by actually breaking out above this level. Looking at our latest 10-year chart for gold it's not hard to see why most investors are defeatist about gold's chances of breaking out. After all it has made five more serious attempts to break above this level since mid-2013 and all have failed. Even if they see what we see on this chart, which is gold approaching completion of a giant complex Head-and-Shoulders bottom, they are still skeptical. They will mutter something about "The Cartel" and their power to clobber gold at will by manufacturing an infinite supply of paper shorts, which they then dump on the market when most of us are asleep—isn't it supposed to be 300 to 1 leverage now, or is it 3,000 to 1?—I've lost track. Their dastardly objective, we are told, is to maintain confidence in the fiat money system for as long as possible, because they can point to gold's feeble performance and say "Look, if it's so bad, why isn't gold going through the roof?" This negative outlook towards gold is of course promoted by the MSM (mainstream media), one of whose Prime Directives is to keep the average investor on the wrong side of the trade. One big factor that has kept a lid on gold in recent years is the continued strength of the dollar, but with respect to this there has been a major development this year, which is the Fed caving in and starting to flip flop in order to stop the stock market crashing. However, the Fed can't have its cake and eat it too—it has to decide what it prefers—a stock market driven higher by endless QE that leads to hyperinflation against the background of a collapsing dollar in the face of mammoth debts, or a high(er) interest rate policy to prop up the dollar that implodes the stock markets leading to a depression—some choice. Their backpedaling last month to goose the markets has kicked a major prop out from under the dollar, which threatens to tip into a severe decline, and each time the Fed flip flops verbally to try to save first the stock market and then the dollar it will lose credibility, until it ends up with none, and amongst more intelligent people it hasn't got very much to start with. So all it will take now to trigger a gold breakout from its huge base pattern ...read more
  • Senior Gold Producer Boasts 'Solid End to 2018'

    Senior Gold Producer Boasts 'Solid End to 2018'

    Source: Streetwise Reports 02/18/2019 A BMO Capital Markets report reviewed Q4/18 numbers, 2019 guidance and possible near-term catalysts. In a Feb. 13 research note, BMO Capital Markets Andrew Kaip reported that strong production and sales led Kinross Gold Corp. (K:TSX; KGC:NYSE) to achieve an earnings beat in Q4/18. Kaip presented Kinross' Q4/18 results and 2019 projections and indicated how they compare to BMO's estimates. The company's reported earnings per share (EPS) of $0.02 and adjusted EPS of $0.01 were above BMO's forecast of $0.00. As for Q4/18 production, Kinross achieved 610,100 ounces (610.1 Koz) of gold equivalent (Au eq), well above BMO's projection of 591.9 Koz Au eq. This was attributed to better-than-expected output at Tasiast, Paracatu and Fort Knox. Q4/18 sales were 636.2 Koz Au eq. Operating cash flow was $183.5 million, greater than BMO's expected $167 million, due to positive working capital adjustments of $96 million. In terms of guidance, Kinross' 2019 figures for the year are generally in line with BMO's. The company targets production of 2.5 million ounces (2.5 Moz) Au eq plus or minus 5%, which is above BMO's 2.35 Moz Au eq forecast. Kinross guided to $445 million of sustaining capital, $540 million of project capital and $65 million of capitalized interest, a total of $1.05 billion. This compares to BMO's projection of $977 million. All-in sustaining cost guidance for 2019 is $995 per ounce plus or minus 5%, on par with BMO's estimate of $990 ounce. Kaip provided an update on total reserves. They declined "marginally" to 25.5 million ounces (25.5 Moz) after "accounting for depletion and additions with no material change in grade." Specifically, Measured and Indicated resources decreased by 1.8 Moz whereas Inferred resources stayed the same. Finally, Kaip noted potential upcoming catalysts for Kinross. In late Q1/19, commissioning of Bald Mountain Vantage is anticipated, for which the company remains on schedule. In Q2/19, commissioning is scheduled for Round Mountain's phase W, also currently on track. BMO has a Market Perform rating and a US$3.25 per share target price on Kinross, whose stock is currently trading at around US$3.49 per share. Sign up for our FREE newsletter at: www.streetwisereports.com/get-news Disclosure: 1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None. 2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees. 3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security. 4) The article ...read more
  • Silver Charts Not Looking as Strong as Gold Charts

    Silver Charts Not Looking as Strong as Gold Charts

    Source: Clive Maund for Streetwise Reports 02/18/2019 Technical analyst Clive Maund charts silver and finds it is still quite a long way from breaking out of its base pattern.The charts for silver look nowhere near as strong as those for gold, but that is normal for this stage in the cycle, as at the start of major sector bull markets investors tend to be cautious and conservative and favor gold over silver. Before going any further note that many of the observations made in the parallel Gold Market update, particularly regarding the dollar and precious metals stocks, apply equally to silver so there is no need to repeat them here, which is why the Silver Market update tends to be a lot shorter than the Gold Market update. Starting with the 10-year chart we see that the giant base pattern in silver appears to be taking the form of a Double Bottom, instead of the complex Head-and-Shoulders bottom that we saw in gold. Silver certainly looks weaker than gold here and is still quite a long way from breaking out of its base pattern, and it will take a break above $22 to finally break clear out of it. The shorter-term 6-month chart looks more similar to that for gold with the same kind of parabolic slingshot move building. Within this curved uptrend it has tracked sideways since early January, which has allowed its earlier overbought condition to almost fully unwind and the rising 50-day moving average and parabolic uptrend to come into play, setting silver up for another upleg imminently, which is made more likely by the dollar looking set to drop soon, as we saw in the Gold Market update. We have just seen a bullish cross of the moving averages, which helps. As with gold, no recent COT charts are available due to the disruption caused by the U.S. government shutdown. Finally, we are going to take a look at the silver relative to the broad stock market chart, as we did with gold. On a 6-month chart for silver over the S&P500 index, with silver at the top and the S&P500 index at the bottom, there are two very important observations to be made. The first is that silver performed well when the stock market tanked in December—this is important to know, because it means that if the market tanks again soon, silver will likely do well as a safe haven, unlike in 2008, which will probably be due to the dollar being weak at the same time. The second key point to observe is that even though silver has held up well so far this year, it has still taken a back seat to the stock market, against which it has underperformed, resulting in a correction on its relative chart back to relative support, which again suggests that silver will shine if the stock market turns and drops hard, ...read more
  • Noble Mineral Exploration: 'Multiple Ways to Win'

    Noble Mineral Exploration: 'Multiple Ways to Win'

    Source: Peter Epstein for Streetwise Reports 02/16/2019 Sector expert Peter Epstein explores the assets of a discovery play he believes holds high potential for investors.Noble Mineral Exploration Inc. (TSX-V:NOB; FWB:NB7; OTC.PK:NLPXF) is a Canada-based explorer owning 100% of >79,000 hectares (>195,000 acres) of mineral rights (nickel-cobalt VMS & gold targets) covering parts or all of 17 townships immediately north and west of the Kidd Creek Mine Complex near Timmins, Ontario. The company's flagship Project 81 is just 30 kilometers (30 km) north of Timmins, a camp that's produced >75 million ounces (75 Moz) of gold. The Kidd Mine has produced >150 million tonnes of high-grade ore. This is Canada's most prolific mining district. More Than Infrastructure & "Closeology" to Kidd Creek Infrastructure is world-class, from labor, mining services and equipment, to roads, highway, rail and an airport, to power and water. It's all there in abundance. And, importantly, memoranda of understanding have been signed with the First Nations. Close proximity to Kidd Creek is much more than a bragging right, or a "closeology" bullet point. The mill has excess capacity available for toll milling nearby ore. The entire Project 81 property is within trucking distance on Highway 655 to the Kidd Creek Mill. Imagine the tremendous savings in time and money if property owners on Project 81 did not have to design, permit, fund, construct and operate a mill & tailings facility. Noble Operating Like a Project Generator Noble plans to initiate six or more additional joint venture (JV) exploration programs this year with suitable strategic partners. In these deals, Noble is free-carried for a number years and retains a significant minority interest, (typically 25%) in the property if the partner executes on its side of the agreement—otherwise 100% interest in the property reverts back to Noble. Partners pay Noble a combination of cash, shares and warrants, and have meaningful annual work commitments to earn into select areas ofProject 81. Each option or JV agreement signed derisks Noble's giant land package as it begins to operate like a project generator. A Very Brief History It all started with Abitibi-Bowater's receivership in 2010-11. Noble's vice president of exploration was lucky enough to locate a box of documents at the Ministry of Mining. The box contained info about a property he was trying to track down. In that box he found evidence of a ~1,300-foot intercept of ~0.30% nickel. Several months later, Noble owned Project 81,having acquired it from Abitibi's post-receivership successor company. A very wide intercept like that, of low-grade Ni, instantly reminded CEO Vance White of Royal Nickel Corp.'s (RNX:TSX) Dumont mine, which hosts ~2 billion pounds (lbs) of 0.26-0.27% Ni and low-grade cobalt, and of Glencore International Plc's (GLEN:LSE) Kidd Creek Mine, which is just 3 km south of Project 81. The Kidd Creek discovery hole in 1963 was 629 feet averaging 1.18% copper, 8.1% zinc and 3.8 troy ounces/ton silver. Project 81 is ...read more