With the latest gold price boom, junior mining companies are receiving some deserved attention. A financial journalist and stock investor shared some potentially successful small explorers Monday, January 20 at the Vancouver Resource Investment Conference.
Thom Calandra, journalist, investor and publisher of The Calandra Report, advised investors to keep the following criteria in mind when looking into small explorers: “Their market capitalization should be below US$100 million; they should have 100% owned properties, along with long-time shareholders; and have little or no dilution over 10 years – that’s important.”
Aston Bay Holdings Ltd. (TSXV:BAY)
Aston Bay recently acquired several projects in Central Virginia – the Virginia Gold Belt Properties in 2018, and the Buckingham Gold Project in 2019.
Thomas Ullrich, Aston Bay CEO, said Virginia was the most notable gold-mining region in the United States until the 1850s, when both the Civil War and the California gold rush disrupted the mining industry on the U.S. East Coast.
“We took a look at a historical area, and came up with a great find,” he added. “There’s potential in Virginia because of the modern exploration methods we have today.”
Azimut Exploration Inc. (TSXV:AZM)
Azimut Exploration has lately been on a solid run, as its stock recently soared 175% in a single day, Calandra said. The Canadian mineral exploration company holds a major gold and base metal portfolio in the mining-friendly province of Quebec.
Last week, Azimut released drill results from their Elmer Gold property in James Bay, Quebec, that included a drill hole with 3.15 g/t gold over 102.0 metres from near surface, resulting in the aforementioned share price increase.
Xtra-Gold Resources Corp. (TSX:XTG)
Xtra-Gold Resources is engaged with the exploration of gold properties in Ghana, West Africa, searching for mineral deposits, resources and reserves.
Xtra-Gold primary focus is the Kibi Gold project in eastern Ghana with a mineral resource of 278,000 ounces of gold in the Indicated category (3.38 million tonnes grading 2.56 g/t gold) and 147,000 ounces of gold in the Inferred category (2.35 million tonnes grading 1.94 g/t gold).
“[Xtra-Gold] is an undiscovered, obscure company,” Calandra said. “It is located in a solid jurisdiction, as Ghana is the largest gold producer in Africa.”
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