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    Aus meiner Sicht recht interessante, allgemeine Informationen von "Gold Ventures"


    ***
    Gold Ventures, the Silver junior miners PF


    22. September 2022


    Gold Ventures
    Junior Silver Miners Portfolio


    I changed the name of this PF as without a dynamic approach nobody survives a junior bear market. Parameters change all the time. A basket of well selected juniors with a focus on exploration will always outperform major producers, in upturns but even more in downturns. While majors keep making new lows juniors have bottomed and building a new base to launch. While for the 2020 leg (the 1st leg in the new Silver bull market) i focused mainly on proven ounces and development stories, i prefer for this next leg to focus on 1st optionality/proven ounces AND 2nd the most exciting silver discoveries = exploration and add to this some junior producers with agressive business development (Gsilver , Santacruz). Focus is newsflow.
    i also like new stories with strong historical data at tiny Mcaps as they have a natural floor and provide a very assymetric bet for potential huge gains (CMC, Hercules, Equity, Finlay), these are higher risk and my advice is allways hold all positions.


    Main criteria for selection:

    • management team & business development
    • share structure
    • newsflow and possible dilution, cashed-up or not
    • the asset
    • grade & number of ounces
    • the odds to become a mine
    • takeover candidate
    • jurisdiction (south america is not a problem for me as long as the overall PF has sufficient spread)

    Since March 2021 Gold Ventures works with a due diligence team to scan & follow up on possible holdings: results during the last 18 month bear market have been stellar compared to peers & newsletters.
    aim is to ride a Silver short squeeze in Junior silver mining stocks.
    during the 2021 bear market, this PF managed a +11% gain (overall gold/silver/commidities result); when the bull resumes i am expecting a multibagger return.
    how high can these go in the next bull leg? Let’s say #silver goes to $35 from $18
    all these Junior companies would become 5-10 baggers in a very short period of time.


    the list is ranked by current position size
    first ticker is on Toronto Stock Exchange, second is on the pink sheets otc

    CORE BIG POSITIONS (tier 6 - 5-7% position size)
    1 AbraSilver Resources $ABRA.v $ABBRF ⛏️ pea + deposit + exploration ⛏️ salta argentina
    2 SantaCruz Silver $SCZ.v $SZSMF ⛏️ producer ⛏️ mexico
    3 Guanajuato Silver $GSVR.v $GSVRF ⛏️producer + exploration⛏️ mexico
    4 Outcrop Silver $OCG.v $OCGSF ⛏️near term deposit + exploration ⛏️ columbia
    5 CMC Metals $CMB.v $CMCXF ⛏️deposit + exploration ⛏️canada
    6 Summa Silver Corp $SSVR.v $SSVRF ⛏️exploration ⛏️ usa


    CORE NORMAL POSITIONS (tier 21 - position size 1.5 - 3%)
    7 Kootenay Silver $KTN.v $KOOYF ⛏️deposit + exploration ⛏️ mexico
    8 Silver Viper Minerals $VIPR.v $VIPRF ⛏️deposit + exploration⛏️ mexico
    9 Eloro Resources $ELO.v $ELRRF ⛏️ exploration ⛏️ bolivia
    10 Defiance Silver $DEF.v $DNCVF ⛏️ pea + deposit + exploration ⛏️mexico
    11 Hercules Silver Corp $BIG.v $ ⛏️exploration ⛏️ idaho USA
    12 Sable Resources $SAE.v $SBLRF ⛏️exploration ⛏️ san juan argentina
    13 Minaurum Gold $MGG.v $MMRGF ⛏️exploration ⛏️ mexico
    14 Eskay Mining $ESK.v $ESKYF ⛏️ exploration ⛏️ canada
    15 Golden Tag Resources $GOG.v $GTAGF ⛏️ deposit + exploration ⛏️ mexico
    16 Kuya Silver $KUYA.cn $KUYAF ⛏️near term producer + exploration⛏️ peru
    17 Southern Silver Exploration $SSV.v $SSVFF ⛏️ deposit + exploration ⛏️ mexico
    18 StrikePoint Gold $SKP.v $STKXF ⛏️deposit + exploration ⛏️ canada
    19 Equity Metals Corporation $EQTY.v $EQMEF ⛏️ deposit + exploration ⛏️ canada
    20 Pantera Silver $PNTR.v ⛏️exploration ⛏️ mexico
    21 Canasil Resources $CLZ.v $CNSUF ⛏️exploration ⛏️ mexico
    22 Finlay Minerals $FYL.v $FYMNF ⛏️exploration ⛏️ canada


    latest transaction:
    Outcrop Silver just published the closing of it’s private placement a week ahead of shedule so i am able to publish it in the PF.


    Outcrop Silver
    Top tier management team led by CEO Joe Hebert, vice president of exploration from the Lundin group and chairman Ian Slater.
    Columbia ranks very high (approx 70) on the Fraser mining index ahead of most SA countries. Underground mining in Columbia gets permitted.
    Timing is important here as we can expect lot’s of newsflow with a maiden resource coming out EOY.
    Grade is extremely high, into the top tier worldwide Silver projects, with only Silvercrest exceeding.
    Guidance for the 1st mineral resource is 45 to 55 M at a whopping average grade 550 to 750 g Eq Ag/t
    FYI, Blackrock Silver put out a smaller resource at lower grades and trades 4x higher.
    Outcrop has 3 rigs permantly turning. What is exciting is their last 2 news reports where the best untill now: 8.97 metres @ 1,651 grams EqAg/t and 6.93 metres @ 2,184 grams EqAg/t, these are AYA style intercepts (which gave us a 5.5x in 2021 during depressed sentiment)
    16km of veins of which now 10% are explored
    latest presentation https://outcropsilverandgold.c…entation_sept_13_2022.pdf
    valuation proposition: Vizsla trades at 235M, Aya at 773M, Outcrop at 27M
    if they can move towards the 100Moz of Silver mark, this becomes a mine and a 400M valuation (at $20 Silver) is a realistic assumption.
    taking into account a 20% dilution to reach this goal, upside is 1135% with Silver NOT moving.
    i owned this stock before in 2020, a small position.
    give the upcoming maiden resource and the rare assymetrical opportunity, i decided to take a sizeable position.
    as always, i am biased so DYODD.
    owning approx 2.8% of all outstanding shares.


    other juniors ranked in categories:
    - juniors i liked a lot but where the 1st phase of the Lassonde curve may be behind us: Aya, GoGold
    - juniors i like watchlist: Vizsla (serious Mcap but momentum seems gone since we sold, might have to wait for the MRI), Apollo, Sierra Madre, Silver X
    - juniors blacklisted : Aurcana Silver corp, GR Silver, Silver Elephant, Excellon
    - juniors i like less for various reasons: Discovery Silver, Avino, Silver One, Metallic Minerals, Dolly Varden, Bear Creek, Aftermath, Silver Hammer,
    - juniors i follow without having FOMO for now: Brixton Metals, Reyna, Western Alaska Minerals, Core Assets, Prismo Metals


    Silver NYSE traded midtiers.
    i prefer juniors over majors. Many majors have been very dissapointing on meeting expectations/revenues.
    in my opinion a strategy of quality juniors has the same or a bigger potential as buying leaps on majors, without expiration time value.


    Expect averaged huge returns (100 bagger potential) over the total length of the bull market since the march 2020 lows. This portfolio is based on 1 simple fact: Silver will eventually exceed it’s highs ($50), i expect this to happen in 2024.


    The ultimate high i project for this Silver Bull market is $350.
    We want to be positioned in the very few silver penny stocks out there.
    Notice while the Gold market has about 500+ possible picks, the Silver market hasn’t much more than 50-75.

    Bei Bear Creek Mining gibts erste Zahlungsschwierigkeiten. Demnach reicht der Cash Flow aus der Mercedes Mine doch nicht aus, um den Kredit abzutragen. Don Durrett behauptete dies ja bis zuletzt.



    Bear Creek Mining Provides Update on Mercedes Deferred Payment


    Vancouver, British Columbia--(Newsfile Corp. - October 24, 2022) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEKF) (BVL: BCM) ("Bear Creek" or the "Company") announces that an extension and waiver has been granted to the Company by Equinox Gold Corp ("Equinox Gold") revising the due date of the US$ 25 million payment (the "Deferred Payment") in respect of the Company's acquisition of the Mercedes Gold Mine in Sonora, Mexico. The Deferred Payment, originally due on October 21, 2022, is now due on or before October 26, 2022.
    Bear Creek is negotiating with Equinox Gold to revise the terms of the Deferred Payment. Negotiations center on extending payments to align with cash flow generated from Mercedes. Additional information will be provided if the Deferred Payment terms are revised. While there can be no assurance that an agreement to revise the terms of the Deferred Payment will be reached, both Bear Creek and Equinox Gold are motivated to settle on mutually satisfactory terms and conditions, and discussions are well advanced. Terms of a re-negotiated Deferred Payment may be subject to various approvals including the approval of the TSX Venture Exchange. Readers are referred to the Company's news releases of December 17, 2021 and April 21, 2022 for details regarding the Mercedes mine acquisition payment components.
    On behalf of the Board of Directors,
    Anthony Hawkshaw
    Chief Executive Officer
    For further information contact:
    Barbara Henderson - VP Corporate Communications
    Direct: 604-628-1111
    E-mail: barb@bearcreekmining.com
    www.bearcreekmining.com

    Kootenay Silver mit katastrophal verwässerndem PP, schlechter gehts kaum:



    Kootenay Silver Announces $4.0 Million Private Placement Financing of Units


    NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES.
    VANCOUVER, British Columbia, Oct. 18, 2022 (GLOBE NEWSWIRE) -- Kootenay Silver Inc. (“Kootenay” or the “Company”) (TSXV: KTN), is pleased to announce that it has entered into an agreement with Research Capital Corporation, as the lead agent and sole bookrunner, on behalf of a syndicate of agents, including Red Cloud Securities Inc. (collectively, the “Agents”), in connection with a best efforts, private placement of units of the Company (the “Units”) at a price of $0.10 per Unit (the “Offering Price”) for gross proceeds of up to $4,000,000 (the “Offering”).
    Each Unit will be comprised of one common share of the Company (a “Common Share”) and one Common Share purchase warrant (a “Warrant”). Each Warrant shall be exercisable to acquire one Common Share (a “Warrant Share”) at a price of $0.15 per Warrant Share for a period of 36 months from the closing of the Offering.
    The Agents will have an option (the “Agents’ Option”) to offer for sale up to an additional 15% of the number of Units sold in the Offering at the Offering Price, which Agents’ Option is exercisable, in whole or in part, at any time up to 48 hours prior to the closing of the Offering.
    The Company intends to use the net proceeds from the Offering for working capital requirements and other general corporate purposes.
    The securities to be issued under the Offering will be offered by way of private placement in each of the provinces of Canada, and such other jurisdictions as may be determined by the Company, in each case, pursuant to applicable exemptions from the prospectus requirements under applicable securities laws.
    The Offering is scheduled to close on or about the week of November 7, 2022, or such date as agreed upon between the Company and the Agents (the “Closing”) and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals including the approval of the Exchange. The Units to be issued under the Offering will have a hold period of four months and one day from Closing.
    In connection with the Offering, the Agents will receive an aggregate cash fee equal to 6.0% of the gross proceeds from the Offering, including in respect of any exercise of the Agents’ Option. In addition, the Company will grant the Agents, on date of Closing, non-transferable compensation warrants (the “Compensation Warrants”) equal to 6.0% of the total number of Units sold under the Offering (including in respect of any exercise of the Agents’ Option). Each Compensation Warrant will entitle the holder thereof to purchase one Unit (a “Compensation Warrant Unit”) at an exercise price per Compensation Warrant Unit equal to the Offering Price for a period of 36 months following the Closing.
    The securities described herein have not been, and will not be, registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or any state securities laws, and accordingly, may not be offered or sold within the United States except in compliance with the registration requirements of the U.S. Securities Act and applicable state securities requirements or pursuant to exemptions therefrom. This press release does not constitute an offer to sell or a solicitation to buy any securities in any jurisdiction.
    About Kootenay Silver Inc.
    Kootenay Silver Inc. is an exploration company actively engaged in the discovery and development of mineral projects in the Sierra Madre Region of Mexico. Supported by one of the largest junior portfolios of silver assets in Mexico, Kootenay continues to provide its shareholders with significant leverage to silver prices. The Company remains focused on the expansion of its current silver resources, new discoveries and the near-term economic development of its priority silver projects located in prolific mining districts in Sonora, State and Chihuahua, State, Mexico, respectively.
    For additional information, please contact:
    James McDonald, CEO and President at 403-880-6016
    or visit: www.kootenaysilver.com


    Es geht weiter, aber mit den Finanzierungskonditionen liefert man sich direkt vors Messer. Schade, denn schon der damalige Kauf der Mercedes Mine war eher fragwürdig und strategisch völlig konträr zur Corani-Projektentwicklung...



    Bear Creek Mining Defers US$25 Million Equinox Payment


    Vancouver, British Columbia--(Newsfile Corp. - October 26, 2022) - Bear Creek Mining Corporation (TSXV: BCM) (OTCQX: BCEFK) (BVL: BCM) ("Bear Creek" or the "Company") announces that it has reached a Heads of Agreement ("HOA") with Equinox Gold Corp. ("Equinox Gold") to amortize over a two-year period the payment of the final $25 million purchase price installment for the Mercedes Gold Mine ("Mercedes") in Sonora, Mexico. Pursuant to the agreement to acquire Mercedes, this payment, as previously amended, was due to be made on October 26, 2022 (see Bear Creek news releases dated December 17, 2021, April 21, 2022 and October 24, 2022).
    The HOA provides for converting the payment into a promissory note (the "Note") with a maturity date (the "Maturity Date") of October 21, 2024 and monthly principal and interest payments commencing in February 2023. Terms of the Note are:

    Principal AmountUS $25 million
    Maturity DateOctober 21, 2024
    Interest Rate12.5% plus the greater of 2.5% or the 90-day average SOFR
    Monthly PaymentsThe greater of US $500,000 or 50% of Free Cash Flow


    Anthony Hawkshaw, CEO of Bear Creek, states, "Granting this Note provides the Company an opportunity to align the final Mercedes payment to the cash flow generated from the mine. We would like to thank Equinox Gold for allowing us to make this payment in a manner that avoids equity dilution. The Mercedes improvement program is delivering positive results and we expect gold production and free cash flow to increase as these improvement initiatives are implemented."
    The Company may prepay, without penalty, any portion of the Note at any time prior to the Maturity Date. The Note will be secured by a first lien (pari passu with certain security held by Bear Creek's existing creditors) and certain second lien pledges of Bear Creek's equity interests in the holding companies through which Bear Creek holds the Mercedes mine and the Corani project.
    In addition to the Note, Bear Creek will grant Equinox Gold warrants ("Warrants") to acquire up to 5 million common shares of the Company. The Warrants may be converted at any time for a three-year period starting six months after being granted at a 15% premium to the 5-day volume weighted average price of the shares on the grant date.
    Issuance of the Note and the Warrants are subject to completion of definitive documentation and approval of the TSX Venture Exchange ("TSX-V").
    On behalf of the Board of Directors,
    Anthony Hawkshaw
    Chief Executive Officer
    For further information contact:
    Barbara Henderson - VP Corporate Communications
    Direct: 604-628-1111
    E-mail: barb@bearcreekmining.com
    www.bearcreekmining.com

    Diese Grafik war für mich der Aufhänger, mich mal ein bisschen mit den Zahlen hinter den Minen zu beschäftigen. Letztendlich bin ich bei SantaCruz gelandet. Ich weiß, high risk, aber m.E. extrem tief bewertet, selbst wenn man die gesamten Erträge aus den Basismetallen einfach mal außen vor lässt.


    Leider schaffe es einfach nicht, hier ein Bild einzufügen, keine Ahnung warum. Daher kein Screenshot meiner Tabelle, sondern der Inhalt eines csv. Vielleicht kann das ja jemand anderes in eine schön anzusehende Tabelle verwandeln:


    ;Rev Silber [M$];Total Rev [M$];Marktwert [M$];MW/Rev Silber;MW/Total Rev
    ANDEAN PRECIOUS METALS CORP;103.7;109.4;107;1.032;0.978
    AYA GOLD & SILVER COM NPV;41.2;41.2;553.2;13.419;13.419
    COEUR MINING INC;197.4;771.9;957.2;4.85;1.24
    ENDEAVOUR SILVER CORP;125;190.7;617;4.936;3.236
    FIRST MAJESTIC SILVER CORP;219.3;724.5;1996.2;9.103;2.755
    FORTUNA SILVER MINES INC;151.3;774.5;1015.3;6.71;1.311
    FRESNILLO PLC;1178.5;2846.6;7141.6;6.06;2.509
    GoGold;26.9;49.7;464.9;17.265;9.359
    HECLA MNG CO;282.6;993.6;3426.7;12.125;3.449
    HOCHSCHILD MINING;267.8;683.6;405.3;1.514;0.593
    PAN AMERICAN SILVER CORP;394.7;1569.3;3544.1;8.978;2.258
    SILVERCORP METALS INC;153.5;362;538.3;3.506;1.487
    SSR MINING INC;180.9;1138.5;3245.2;17.937;2.85
    Impact Silver;13.5;14.6;35.1;2.597;2.405
    Guanajuato silver;28.9;54.4;83.3;2.885;1.533


    SantaCruz silver;168.8;570.8;90.1;0.534;0.158

    Zitat von Neo

    was bedeutet für Dich Marktwert?
    Marketcap, Enterprice Value (= Marketcap. incl Verschuldung)?

    Marketcap. Einfach die Anzahl der Aktien mal dem Aktienkurs, keine Berücksichtigung der Verschuldung. Die sollten sich ja bereits im Aktienkurs widerspiegeln. Meine Zahlen sind aber bereits ein paar Wochen alt, also nicht mehr ganz up to date.

    Zitat von Gerald

    Bittesehr ... und bitte auf Korrektheit prüfen. Und könntest Du weitere Unternehmen wie GATOS Silver, Adriatic Metals oder SILVER-X in den Vergleich aufnehmen

    Danke schön! Im Prinzip spricht nichts dagegen, weitere Minen mit zu betrachten.


    Ich war übrigens faul und habe die Zahlen selbst einfach hier per Excel-Tabelle runtergeladen und nur noch ein wenig "veredelt":
    https://renaissancemen.org/202…eft-the-list-is-very-few/
    Übrigens ein sehr interessanter Artikel, auch wenn ich nicht mit der Schlussfolgerung mitgehe, dass man sich möglichst an 100%iger Silberproduzenten halten sollte.

    Ich hab jetzt einfach die Gelegenheit genutzt, die Tabelle noch mal upzudaten: Marketcap ist Anzahl der Aktien mal dem letzten Preis an der Börse mit dem höchsten Umsatz. Für Gatos, Adriatic und Silver-X hab ich mir noch Produktionszahlen besorgt (Gatos: unteres Ende der 2023 guidance, Adriatic: aus Unternehmenspräsentation geplante 2023 Revenue mit prozentualer Aufteilung, Silver-X: Produktionsergebnisse 2.Halbjahr 2022 * 2).
    Da wir von der Produktion ja eh schon die einzelnen Metalle haben, habe ich mir deren Anteile auch einzeln berechnet.
    Bei den Relationen habe ich nun drei Kategorien: Market Cap zu Erlösen aus Silber, Market Cap zu Erlösen aus Edelmetallen und Market Cap zu gesamten Erlösen. SantaCruz, Andean, Hochschild und Gatos sehen in allen Kategorien günstig aus, Aya, GoGold und Hecla überall teuer. Bei den anderen ändert sich die Bewertung oftmals deutlich, je nachdem, was man betrachtet. Silver-X hat beispielsweise bislang kaum Silber ans Tageslicht befördert und sieht daher bezogen auf Silber ziemlich teuer aus. Betrachtet man auch die restliche Produktion, ändert sich das Bild. Auch SSR Mining, Pan American Silver oder First Majestic sind vor allem Goldproduzenten und sehen rein auf Silber bezogen eher teuer aus.


    @Gerald walte deines Amtes. ;)


    ;Rev Ag [M$];Rev Au[M$];Rev Pb [M$];Rev Zn [M$];Rev Cu [M$];Rev ges. [M$];Market Cap. [M$];MC/Rev Ag;MC/Rev Ag+Au;MC/Rev ges.;% Ag ;% Au;%Pb;% Zn;% Cu
    ANDEAN PRECIOUS METALS CORP;98.3;5.8;0.0;0.0;0.0;104.1;99.1;1.007;0.952;0.952;94.5%;5.5%;0.0%;0.0%;0.0%
    AYA GOLD & SILVER COM NPV;39.1;0.0;0.0;0.0;0.0;39.1;593.3;15.173;15.173;15.173;100.0%;0.0%;0.0%;0.0%;0.0%
    COEUR MINING INC;187.2;575.5;0.0;0.0;0.0;762.7;872.3;4.660;1.144;1.144;24.5%;75.5%;0.0%;0.0%;0.0%
    ENDEAVOUR SILVER CORP;118.6;65.8;0.0;0.0;0.0;184.3;556.7;4.695;3.020;3.020;64.3%;35.7%;0.0%;0.0%;0.0%
    FIRST MAJESTIC SILVER CORP;208.0;506.1;0.0;0.0;0.0;714.1;1614.0;7.760;2.260;2.260;29.1%;70.9%;0.0%;0.0%;0.0%
    FORTUNA SILVER MINES INC;143.5;511.6;47.4;48.6;0.0;751.0;937.3;6.531;1.431;1.248;19.1%;68.1%;6.3%;6.5%;0.0%
    FRESNILLO PLC;1117.8;1161.8;111.6;300.9;0.0;2692.1;6800.0;6.083;2.983;2.526;41.5%;43.2%;4.1%;11.2%;0.0%
    GoGold Ressources;25.5;22.8;0.0;0.0;0.0;48.3;449.6;17.601;9.303;9.303;52.9%;47.1%;0.0%;0.0%;0.0%
    HECLA MNG CO;268.0;367.8;90.6;191.5;0.0;918.0;3158.2;11.782;4.967;3.440;29.2%;40.1%;9.9%;20.9%;0.0%
    HOCHSCHILD MINING;254.0;416.6;0.0;0.0;0.0;670.5;397.9;1.567;0.593;0.593;37.9%;62.1%;0.0%;0.0%;0.0%
    PAN AMERICAN SILVER CORP;374.4;1004.9;31.6;106.2;0.0;1517.1;3106.5;8.297;2.252;2.048;24.7%;66.2%;2.1%;7.0%;0.0%
    SILVERCORP METALS INC;145.6;0.0;144.1;45.5;0.0;335.2;533.2;3.662;3.662;1.590;43.4%;0.0%;43.0%;13.6%;0.0%
    SSR MINING INC;171.6;959.2;0.0;0.0;0.0;1130.8;2818.2;16.423;2.492;2.492;15.2%;84.8%;0.0%;0.0%;0.0%
    Impact Silver;12.8;0.5;0.5;0.0;0.0;13.9;32.6;2.540;2.438;2.346;92.3%;3.9%;3.8%;0.0%;0.0%
    Guanajuato Silver;27.4;23.6;0.6;1.0;0.0;52.6;75.9;2.769;1.488;1.443;52.1%;44.8%;1.1%;2.0%;0.0%
    SantaCruz Silver Mining;160.1;0.0;29.6;284.6;21.3;495.5;83.8;0.524;0.524;0.169;32.3%;0.0%;6.0%;57.4%;4.3%
    GATOS Silver;153.9;9.9;34.4;78.5;0.0;276.7;284.1;1.846;1.735;1.027;55.6%;3.6%;12.4%;28.4%;0.0%
    Adriatic Metals;147.0;56.0;52.5;87.5;7.0;350.0;549.4;3.738;2.706;1.570;42.0%;16.0%;15.0%;25.0%;2.0%
    SILVER-X Mining;5.5;18.8;4.1;6.2;0.0;34.6;37.2;6.789;1.534;1.077;15.9%;54.4%;11.8%;17.9%;0.0%

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