Soma.to Soma Gold and other Juniors.

[Jaygo]

I'll start off with the all important message that I dont fully understand mining economics and much less so geology so this is intended to start a discussion and not a reco in any way at all. If I woke up and saw all my juniors had been nationalized or went belly up I wouldn't be surprised at all. This is not a pump, i'm really just looking for others who know more than me lol

 

Over the past 24 months I have been digging through the trash heap that is reddit, twitter, ceo.ca and stockhouse for some junior miners and explorers that could potentially be winners. 

 

So with the move in gold almost everything has been a winner but more importantly I want to find the winners amongst the winners and have built up a portfolio of junior producers and explorers that have interesting economics. 

 

Soma is one that has really been moving lately. 80M CAD MCap and 27M CAD debt. The basics are that they are in Columbia with a pretty good gold mine and are producing. Low cost and paying down debt rapidly. The expected mine life for 8 years but there is potential for much more.

They do their own mining on their concession and also accept artisanal loads with a processing fee so their mine combined with the surrounding area is actually a large deposit. The kicker is that they have a potentially very large copper discovery on their concession. 

 

Dryden Gold is a discovery in NW Ontario that the drilling core show physical gold and that is quite rare. The market loved it but has settled down for the past month or so. Well last night they release a sample that was 1km away from the initial drill site and this one shows gold to the naked eye too. Its a potentially decent sized extreme high grade deposit. 

 

Omai Gold is one of my best performers last year and funny enough I bought it on spec hoping it was a takeover target for Mako. The eagle mountain deposit is about 20 km as the crow flies from Omai. Its Guyana so apparently that's a 2 hour drive and the two could not really have any symbiosis.

The story is they started with a deposit that was a mine in the 90's but flooded out and became uneconomic. Well they have been drilling and proving out the resource and it is potentially in the 5 million oz department. This one has a few red flags as some of the folks who I would consider cons have mentioned it so who knows. 

 

I have about 15 juniors who are producing or have interesting targets, anyone have anything else that is interesting. In the past month and a half I have lightened up on the explorers and increased the producers as the explores seem to have performed better that the guys actually making money. 

 

I also hold:

Luca Mining

Mako ( large position )

Fortune Bay

Red Pine Exploration

Stllr Gold

Revival Gold

GFG resources

Calibre ( mid size )

Wesdome ( mid size )

Integra

Steppe Gold

Minera Alamos