North American Nickel (NAN.V) geophysical surveys to start Mid April

An exciting mining exploration stock to keep on your radar this summer will be North American Nickel as they gear up for a busy exploration summer in Greenland.  VMS Ventures owns approximately 23.9% of North American Nickel and should be entering commercial production before the end of Q2 on the Reed mine with partner Hudbay in Manitoba.

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N.A. Nickel, VMS to run Maniitsoq EM, gravity surveys

2014-03-19 06:24 ET – News Release

See News Release (C-NAN) North American Nickel Inc

Mr. Mark Fedikow of North American Nickel reports

NORTH AMERICAN NICKEL INC.: SURFACE DEEP ELECTROMAGNETIC AND GRAVITY GEOPHYSICAL SURVEYS AWARDED TO CRONE GEOPHYSICS AT MANIITSOQ; WORK TO BEGIN MID-APRIL

North American Nickel Inc. has awarded to Crone Geophysics & Exploration Ltd. of Mississauga, Ont., electromagnetic and gravity surveys, scheduled to start in mid-April, at the company’s 100-per-cent-owned Maniitsoq nickel-copper-cobalt-platinum-group-metal project in southwest Greenland. VMS Ventures Inc. owns approximately 23.9 per cent of North American Nickel.

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Mining Stocks daily action – Osisko,Yamana Gold, Probe Mines

Mining Stocks for Feb 18th

The TSX Venture home to many of Canada’s junior mining companies managed to climb above the 1000 level on the index.  I believe this will be a year on the TSX-V where individual investors have to be very selective.  The solid companies will go be up 20 -150% but many of the junior miners will go bankrupt. This will be a much needed cleansing and capital will flow to the higher quality names. For an excellent read on How to invest in junior mining stocks check out Mining Stocks Investor Guide.

We saw a couple of the larger gold companies reports earnings today Osisko and Yamana Gold.

Osisko (OSK.T) who has received a takeover bid from Goldcorp was up 6 pennies on the day to close at $7.02.  Osisko has stated that many shareholders feel the bid is to low.  In the fourth quarter Osisko manged to squeak out net earnings of $10.5 million (2 cent per share.)  In January the Malartic mine hit record production of 50,111 ounces which is terrific news.

Yamana (YRI.T) reported adjusted earnings per share of $36.7 million or 5 cents per share.  Yamana year over year production was down slighty and costs were higher resulting in a less profitable year. Yamana does have a solid balance sheet and has announced a quarterly dividend of .0375 cents per share.  Management at Yamana is focused on cash flow for the year 2014.

Probe Mines (PRB.V) hit an all time  high today of $3.40 and closed at $3.27. Another excellent high grade drill hole from infill drilling was released this morning. Ice drilling is under way on the project and Probe is well funded for 2014 exploration. Of note here is major Agnico-Eagle owns a stake in Probe. In my view Probe is leading takeover candidate and you may not see them around in the next 12 months.

osisko

 

 

Wolfpack Gold: This mining stock is trading well below cash value

Wolfpack Gold (WFP.V)

Looking through some of the press releases this week on the TSX Venture exchange for mining stocks Wolfpack Gold immediately caught my eye and stood out.

The headline on Stockwatch was: Wolfpack cuts salaries, to drop properties

I was not 100% familiar with Wolfpack Gold but with the tough times in the junior mining sector I was curious to read more.

 

wolfpackgold (wfp.V)

 

 

This is what I found:

Wolfpack Gold Corp., in its efforts to protect its healthy cash position, has implemented cost-saving measures in response to the mineral exploration sector’s liquidity challenges. Additionally, the company has implemented a conservative yet methodical work plan to advance its core Nevada-based projects. The company’s plan is expected to eliminate equity financings during current market conditions, while providing flexibility to accelerate operations on short notice upon more favourable market conditions.

Cost-saving measures

In recognition of the persisting market conditions, the board of directors has adopted a three-year strategic plan with three goals:

 

  1. Preserve the company’s healthy cash position of more than $6-million (not including cash equivalents);
  2. Conservatively yet systematically advance its leading gold projects;
  3. Maintain title to its gold and uranium core assets.

 

The company has implemented a hiring freeze, reduced staff by 35 per cent and reduced salaries by 20 per cent. Field office closures and reduced outsourcing have been implemented along with vendor discussions on further reductions. The company has conducted a technical review of non-core assets, and will be dropping approximately 40 per cent of its unpatented claim holdings to reduce holding costs and to focus on advanced projects.

The company is confident in the viability of its assets and will continue to monitor market conditions to consider additional spending reductions if required.

Kudos to William Sheriff and the management team at Wolfpack Gold for doing the right thing for shareholders.

The stock is trading at 7 cents with just under 50 million shares outstanding giving it a market cap of 3.5 million well below the $6 million in the till.

Some great deals out there in the junior mining sector if you are selective and know what to look for.

To read the entire press release please go to the next page.

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