Weekly Nugget

⛏️  The Explorer Nugget

This week we dig into everything junior miners, explorers, and treasure hunters!

⛏️  The Explorer Nugget

Junior miners, explorers, treasure hunters - whatever you call them- make up an essential part of the mining and mineral industry! Big-name producers often overshadow these companies but still require substantial investment to make much-needed mineral discoveries. 63.9% of projects in the Prospector database are in the Grassroots or Target Drilling phase; however, investing in exploration companies can be tricky, especially for a non-traditional mining investor. This week, we are digging into those first stages of mineral discovery and exploring tips on investing in the mineral future!

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Jess Scanlan

Head of New Media

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 🔥 What's New

Have You Seen It Yet?

Last month, Prospector CEO, Emily King, sat on a "Tools for the Modern Junior Mining Investor" panel at the Precious Metals Summit Beaver Creek. Check out the recording to listen to their discussion about the state of the junior mining market and tools for the modern junior mining investor!

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🎧 On The Rocks

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📰 In The News

Evaluating Opportunities In Gold And Junior Mining Sector

Sentiment for gold mining stocks was cautiously optimistic at the recent Denver Gold Forum, but investment in junior miners has lagged despite their upside leverage to rising gold prices. With the Fed potentially nearing the end of its rate hikes and the dollar set to correct, now could be an opportune time to allocate to junior gold explorers and producers in anticipation of a gold bull market. Understanding the lifecycle of a mine is key to investing in junior miners at the right time. More broadly, microcap stocks have underperformed amid high rates and tight business lending, but could see a reversal once the Fed cuts rates.

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Revisited: Through-Cycle Investment In Mining

Mining is highly cyclical, causing volatile equity valuations and capital investment closely tied to commodity price fluctuations. By taking a disciplined approach to capital planning and using the full range of financial levers, miners can make better long-term investment decisions, maintain stronger balance sheets, and achieve more consistent returns through cycles. This involves saving more in upcycles, continuing to invest in downcycles, dynamically reallocating capital, debiasing decision-making, optimizing cash flow, and diversifying financing sources. 

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Journey From Exploration To Production

Understanding a mine's lifecycle from exploration to production is crucial for sustainable mineral extraction and minimizing environmental impact. The cycle typically spans 5-8 years from discovery to operation. The speculation stage involves preliminary exploration and economic viability assessments. The development phase analyzes required investments and costs versus expected revenues to determine feasibility. The production stage sees the mine fully operational and generating metals. Investors should target entry after feasibility but before production, when risks decrease. Revaluation of remaining reserves later optimizes operations. Knowing a mine's lifecycle stage helps select superior mining investments and maximize value.

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Beginner’s Guide To Mining Stocks

Mining stocks comprise majors and juniors with different risk-return profiles. Majors are well-capitalized, mature firms producing steady cashflows but limited upside. Juniors are higher-risk, speculative ventures, but can deliver huge returns if mineral deposits pan out. Valuation follows reserve market value, based on feasibility studies verifying deposit viability. Juniors rise and fall on study results, while majors' valuations are more stable. Investors must weigh juniors' appreciation potential against majors' lower risk and dividends. 

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Costco Is Selling Gold Bars?

Costco is selling 1 ounce gold bars in limited quantities for its members, currently priced around $1900. According to CFO Richard Galanti, the gold bars sell out quickly when posted online, with purchase limits of 2 per member. While not a way to build substantial gold holdings, it aligns with Costco's expanding survivalist offerings and appeals to members wanting a physical precious metal investment as a hedge amid economic uncertainty. With gold up 15% in a year and over 50% in 5 years amid high inflation and market instability, the move leverages gold's safe haven reputation and makes for an effective promotion likely to resonate with a niche of Costco's clientele.

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⚒️ Mining Data Digest Snapshot

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Eaglehead Cu-Mo-Au Property, BC

Company: Copper Fox Metals Inc. (TSXV:CUU)

Geography: Canada

Minerals: Copper, Molybdenum, Gold, Silver

Date: 10/10/23

View On Prospector 


The Eaglehead copper-molybdenum-gold-silver project is located in northwestern British Columbia, Canada. A 2023 mineral resource estimate outlines 71,971kt at 0.322% Cu, 0.219% Mo, 0.0107% Au, 0.06 g/t Ag in the Indicated category and 250,820kt at 0.240% Cu, 0.187% Mo, 0.0035% Au, 0.042 g/t Ag in the Inferred category. The project contains six zones of porphyry style mineralization along an 8km trend and is an early stage exploration project. Additional drilling totaling 8,500m in two phases is recommended to expand the resource and upgrade mineralization from Inferred to Indicated categories. The deposit type is a calc-alkalic porphyry copper-molybdenum-gold system with good potential for a significant mineral resource. The project is located in northwestern British Columbia, Canada and is 100% owned by Copper Fox Metals Inc.

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❓Prospector Poll

What level of mining investor would you consider yourself? 

Each week we want to get your opinion about the mining industry. We'll release the results with next week's Nugget! 

Prospector poll 8.18.23

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