Mining Stocks that are cash rich

Mining Stocks

One of the best ways to invest in mining stocks with the current market environment is to find companies with strong cash positions.

With all stocks on the TSX having to release Q2 financials before August 15th we have found some of the best cash rich mining stocks.

Companies on the TSX Venture have until the end of August to release Q2 financials.

Mining Stocks

Mining Stocks that are cash rich

 

Some of these mining companies are even trading at discount to cash value. That means investors get the assets of the company for free or even sometimes 60 or 70 cents on the dollar.

Here are some mining stocks we found that are trading at a market cap close to their cash position.

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Ryan Gold – RYG.V

Ryan Gold decided due to market conditions after the 2013 exploration season in the Yukon to cease all exploration work and conserve cash. Currently the are looking to JV the Ida Oro project in the Yukon and are evaluating acquiring other assets.

June 30/2014 cash =  $21,205,570

August 15/2014 share price $0.12 market cap = $14,060,000

Cash as a % of market cap = 150%

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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