The Critical Investor newsletter


Dear subscriber,

As Leagold Mining (LMC.V) commences trading on Monday the 10th of April, being arguably the largest mining startup of the TSX Venture in recent years and a pretty interesting one, without any coverage that I know of, it seemed a nice opportunity to perform some timely analysis of my own. When mining titan Frank Giustra and Neil Woodyer (ex CEO of Endeavour Mining) buy a solid gold mine from Goldcorp out of the blue, there must be something special to it. I think I found it, and you can read all about it here:


Dear subscriber,

In my view there aren't many stocks with such a low risk profile towards a 50-100% gain over a 1 year time frame, like Atlantic Gold. Fully financed, fully permitted, construction well underway, top notch management in control of everything, low risk open pit operations in mining friendly Nova Scotia, developing the staged, profitable Moose River Consolidated project. It doesn't get much better for risk/reward, and a re-rating is most likely in the cards this year. Read more about it here:


Dear subscriber,

After Terraco very recently acquired another royalty on Spring Valley for a very attractive price it seems, and no Nutmeg PEA results have been announced yet, although according to schedule this was planned to happen in Q4 2016, I figured this to be a good moment to discuss all this and more with CEO Todd Hilditch. Especially since I consider the Nutmeg PEA an important catalyst, as it is able to directly assign tangible value to Terraco's assets.

Read all about this in the following interview:


Dear subscriber,

After a quiet period, Terraco Gold made another remarkable move, after doing the impressive royalty deal with Waterton on Spring Valley. This time CEO Todd Hilditch managed to hire royalty veteran Paul Zink, who is looking to return to high profile royalty plays like he built with IRC, which was sold for $700M to Royal Gold in 2010. I think this can be a very important hire for the company, read more about it here:


Dear subscriber,

As Balmoral Resources keeps delivering with its drill results on its flagship Martiniere gold project in Quebec, slowly but surely it becomes clear to me that this project definitely could be substantial, despite all delayed resource estimates beforehand. My feeling is they passed a certain threshold, and my estimate is that a maiden resource estimate is due in Q3 2017. My assumptions aka arm waving attempts on Martiniere point towards the direction of 1.8-2.4Moz Au, and I'm curious if I turn out to be right in a year from now. Read more about it here:


Dear subscriber,

I believe Black Sea Copper & Gold could have the potential to become a substantial player in the gold/copper porphyry/epithermal deposit space, as it quietly gobbled up a set of excellent properties during the last bear market, has a very knowledgeable team, strong financial backing and has already started with their exploration programs on multiple properties. If they hit something big, and chances are they might do just that, the current market cap will probably prove to be a bargain in a year or so. You can read more about it here:


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