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.”
//
