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The fully financed mine is scheduled to be producing gold by December and will be free cash flowing by early 2020. (USAS): This North American focused silver and base metal producer recently re-branded to include “Gold” in its name, due to its recent acquisition of the Relief Canyon Project in Nevada. He confirmed that Teranga would look at the asset if it were to go for sale and that any transaction would have to be at the right price and make sense for Teranga shareholders.Īmericas Gold and Silver Corp. I spoke with CEO Richard Young at the recently concluded Beaver Creek Summit regarding the possible divestment Barrick Gold’s Massawa Exploration Project, which borders Teranga’s Sabodala Mine in Senegal.
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The company will apply for the mining license on its Golden Hill Project in 2020 and is attempting to receive all of the permits associated with this project before the 2021 election in Burkina Faso.
Teranga is also advancing its third mine towards the feasibility stage of development. The complex is expected to produce over 1M ounces of gold and generate free cash flow of US$230M between 20, providing strong cash flow to support Teranga's rapidly advancing organic growth pipeline. The company’s flagship Sabodala Mine is the largest producing gold mine in Senegal.
Located in Burkina Faso, the Wahgnion Mine is expected to produce between 30,000-40,000 ounces of gold this year and 130,000 ounces next year, with an all-in sustaining costs (AISC) of US$761 per ounce. (TGZ.TO): This West African gold producer has recently brought in its second producing mine well ahead of schedule and under-budget. Here are three small-cap junior miners who are poised to outperform the sector, as this new precious metal bull matures over the next few years: Many of these juniors remain undervalued, as most generalist investors have yet to delve into the junior space, preferring to invest in precious metals related ETF’s to park safe haven capital. Given the economic and geopolitical backdrop will remain gold friendly in the long-term, I expect small-cap GOP’s to have more upside than most major and mid-tier miners (over the next 18 months) at current gold prices.
With most earnings projections based upon $1300-$1400 gold price, at $1500 gold most gold producers will beat these estimates by wide margins. Results will be driven by the huge run in bullion during early summer and the fact that production tends to be second-half weighted for most producers. With gold futures remaining above $1500 since early August, H2/2019 is poised for much stronger results for low-cost GOP’s than the first half of the year. In the current climate, where geo-political risk remains difficult to price and interest rates are falling across the board, the safe-haven metal should remain well bid into 2020 after a healthy correction has taken place. You may wish to consider taking advantage of this weakness to begin scaling into a basket of small-cap growth-oriented producers (GOP’s) before Q3 earnings season begins in late October. As expected in this column last week, December Gold is seeing some profit taking and quarter end book squaring by fund managers heading into Q4.
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