I’m a PRIVATE INVESTOR, enjoying early retirement after a long, successful, and fulfilling career as an investment professional with a focus on the resource sector (including oil and gas). I employ common sense, fundamental, bottom-up analysis that incorporates not limited to: currency exchange rates, cost of labor, raw materials cost, geology, metallurgy, cost of capital, infrastructure, micro/macro influencing factors, experience of management, capital discipline by management, etc, etc… Research, research, research. I run a highly concentrated and focused portfolio. The Math never lies
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August 29, 202626 min
CCI.CN CNDIF site tour of NB largest High-grade open pit and Caribou Complex 3000t/d mill
Excellent trip. Everything is in very good shape for a fully funded restart of Caribou being feed by the high grade Murray Brook open pit.  CEO Simon Quick adds colour to what’s coming as we ramp up over the next 18 months toward production. Production in 2028, fully financed. Offtake sold by Ocean Partners, deep water port nearby, govt support, local workforce, power and water. At current spot it’ll do approximately $150-$160 million CAD in Ebitda on $280 million CAD in Rev, 57% Ebitda margin, mine will payout in 3-4 months. On macro we have forecasted Cu, Ag deficits into 2035 , zinc moving into a small deficit 2027-28 Annual Production profile plus +13 years 47 million lbs zinc (20% of Canada’s zinc production) 8 million lbs copper 783,000 ozs silver 10 million lbs lead MC is $134 million CAD EV (net of OR stream cash $31.5 million +$17 million cash, $1 million in investments and $10 million cash from warrant exercises) = $74.5 million CAD. Trades at 0.4 EV to steady state Ebitda vs peers in production of 4-8X …. That’s the upside in 18-24 months with zero financing risk. Total cash liquidity +$100 million cad including Ocean Partners off-take agreement Total cap ex from PEA net of $6 million to acquire Caribou which has been paid to put MB into commercial production = $58 million CAD Liquidity to cap ex ratio 1.9X we could build it twice. Zero dilution risk to achieve commercial production. Then exploration upside, govt funding grants upside, cost cut upside from critical metal govt rebates on 30% of equipment, potential $5 million in cash from sale of non-essentials that came with Caribou, M&A upside of local stranded deposits upside. The risk is execution but this team has proven many times they have the ability to stay in budget and deliver on time. If not under budget and under time. https://canadiancopper.com/ Very Good trip!
July 20, 202527 min
$NICU $MGMNF MAGNA MINING Site visit to surface of Levack and producing McCreedy high grade underground Copper Mine
$nicu.v $mgmnf . @MagnaMining interview with CEO Jason Jessup on site at their producing high-grade Cu, Ni, PGM+Au McCreedy Mine after touring underground. Video of McCreedy underground and the Massive Chalcopyrite Veins running +20% Cu https://x.com/drjimjonesceo/status/1946964172018704554 I’m a PRIVATE ACTIVIST INVESTOR, enjoying early retirement after a successful and fulfilling career managing investment portfolios with a focus on the resource sector (including oil and gas). I am completely independent. My only client is me. No one pays me, I don't sell subscriptions or offer sponsorship deals or special access to my trading info. Anything I write/post is done free. My money where my due diligence is and I explain why. I employ common sense, Fundamental, bottom-up analysis that incorporates but not limited to: currency exchange rates, cost of labor, raw materials cost, geology, Metallurgy, cost of capital, infrastructure, macro influencing factors, capital discipline by management, etc. If the data changes (company, sector or macroeconomic environment) then I do, no emotion about it, let the data guide your investments. Twitter: https://twitter.com/drjimjonesceo Podcast channel: https://podcasts.apple.com/ca/podcast/due-diligence-by-doc-jones-resource-investor-hunting/id1568221675 Research, research, research. I run a highly concentrated and due diligence focused portfolio. If you want to invest along side me, it’s your money, your responsibility, buy and sell for your own reasons not mine. It’s your money. The best investment you can make is in your own education. I am driven by the treasure hunt. This is my passion in life. I’m a big research nerd. Always double-check and only trust the numbers that you have vetted. Commit to memory: “NOT all ozs, pounds & barrels in the ground are created equal” understanding this basic principle will increase your wealth and your ability to sleep at night... Best, Doc Jones
January 21, 202513 min
Update with CEO Jon Deluce of Abitibi Metals $AMQ
Key points. -Over 10 million in cash. -Majority of resource is in the CU, AU zone open for expansion -MC of 30 million with 1/3 in cash +9000 meter to release form 2024 drill program.
September 20, 202446 min
$NICU $MGMNF Magna Mining Transformative Acquisition of KGHM Producing Copper Mine and multiple other Mines
Crean Hill PEA: https://ceo.ca/@newsfile/magna-mining-completes-updated-preliminary-economic Magna Mining Acquires Producing Copper Mine in Sudbury from KGHM International Ltd: https://ceo.ca/@newsfile/magna-mining-acquires-producing-copper-mine-in-sudbury Rick Rule interview with Jason Jessup CEO Magna Mining diving into Acquisition: https://www.youtube.com/watch?v=NHhNCds8sFU
August 2, 202432 min
Magna Mining Site Visit update plus details on becoming a multi-mine producer and more
Magna Mining site visit update $nicu $mgmnf https://x.com/drjimjonesceo/status/1818995303493648858?s=46&t=k3zzq9NGvHioMmUWtRBWIg. Blasting rock and stock piling high grade for Glencore’s mill in Sudbury.
May 2, 202430 min
Abitibi Metals update $AMQ $AMQFF
AMQ update focused on geological model testing high grade shoots and open pit potential and other catalyst. Fully funded into 2025.
February 28, 202434 min
$INTR.V $IMTCF Intrepid Metals CEO Ken Brophy COPPER!
INTR is one of the best unknown copper plays in the market that has potential for large scale, high grade. Just read the presentation and look at the historical results. This is the first time these deposits and land package have been consolidated under one company. Presentation: https://www.intrepidmetals.com/images/pdf/presentation/2024/Intrepid_Metals_PPT_Feb_22_2024.pdf Press release this morning: https://ceo.ca/@newsfile/intrepid-metals-completes-first-4-drill-holes-at-corral "We are getting great recovery and we have extended two of our holes beyond the planned depth based on visual inspection of the core." "Intrepid Metals is a multi asset company focused on high-grade copper, silver and zinc projects in proximity to established mining jurisdictions in south-eastern Arizona, USA. The Company has acquired several drill ready projects, including the Corral Copper Project (a district scale advanced exploration and development opportunity), and the Tombstone South Project (within the historical Tombstone mining district and shares geological similarities to South 32’s Taylor Deposit) both of which are located in Cochise County, Arizona and the Mesa Well Project located in the Laramide Copper Porphyry Belt in Arizona. Intrepid has assembled an exceptional team with considerable experience with exploration, developing, and permitting new projects within North America. Intrepid is traded on the TSX Venture Exchange (TSX-V) under the symbol “INTR” and on the OTCQB Venture Market under the symbol “IMTCF”. Corral Copper Project advanced stage, 100% controlled copper project in Arizona Over 50,000m of historical drilling has been completed within the district, with near surface mineralization of copper, silver, zinc and gold, including 126.2 metres of 1.24% copper Robust land package of over 9,600 acres (15 square miles) of mineral rights including over 1,800 acres of Patented mining claims and surface rights Not investment advice, for educational purposes only. I’m a PRIVATE INVESTOR, enjoying early retirement after a successful and fulfilling career managing investment portfolios with a focus on the resource sector (including oil and gas). I am completely independent. My only client is me. No one pays me, I don't sell subscriptions or offer sponsorship deals or special access to my trading info. Anything I write is done free. My money where my due diligence is and I explain why. I employ common sense, Fundamental, bottom-up analysis that incorporates but not limited to: currency exchange rates, cost of labor, raw materials cost, geology, Metallurgy, cost of capital, infrastructure, macro influencing factors, capital discipline by management, etc. If the data changes (company, sector or macroeconomic environment) then I do, no emotion about it, let the data guide your investments. Twitter: https://twitter.com/drjimjonesceo Podcast channel: https://podcasts.apple.com/ca/podcast/due-diligence-by-doc-jones-resource-investor-hunting/id1568221675 Research, research, research. I run a highly concentrated and due diligence focused portfolio. If you want to invest along side me, it’s your money, your responsibility, buy and sell for your own reasons not mine. It’s your money. The best investment you can make is in your own education. I am driven by the hunt for value and truth. This is my passion in life. I’m a big research nerd. Always double-check and only trust the numbers that you have vetted. Commit to memory: “NOT all ozs, pounds & barrels in the ground are created equal” understanding this basic principle will increase your wealth and your ability to sleep at night... Best, Doc Jones
February 23, 202438 min
Magna Mining $NICU $MGMNF Update Jan 30th with CEO Jason Jessup
Since the recording and broadcast on Twitter Spaces Magna released exceptional assays on Feb 20th: https://ceo.ca/@newsfile/magna-mining-provides-first-2024-drilling-results "Magna Mining Provides First 2024 Drilling Results, Including 1.1% Ni, 8.3% Cu, and 13.9 g/t Pt+Pd+Au Over 3.0 Metres Sudbury, Ontario--(Newsfile Corp. - February 20, 2024) - Magna Mining Inc. (TSXV: NICU) (OTCQB: MGMNF) (FSE: 8YD) ("Magna" or the "Company") is pleased to provide initial drilling results from the 2024 exploration program at Crean Hill, targeting the near surface advanced exploration area of the 109 FW Zone. Highlights from the new assay results include: 109 FW Zone MCR-24-060: 0.3% Ni, 2.0 % Cu, 8.6 g/t Pt + Pd + Au over 14.0 metres Including 1.1% Ni, 8.3 % Cu, 13.9 g/t Pt + Pd + Au over 3.0 metres MCR-234-061: 0.6% Ni, 1.0 % Cu, 9.5 g/t Pt + Pd + Au over 14.7 metres Including 1.6% Ni, 3.5 % Cu, 12.5 g/t Pt + Pd + Au over 2.9 metres And 2.2% Ni, 1.2 % Cu, 28.7 g/t Pt + Pd + Au over 1.0 metres MCR-24-065: 0.2% Ni, 1.1 % Cu, 11.4 g/t Pt + Pd + Au over 10.2 metres Including 1.5% Ni, 10.7 % Cu, 16.0 g/t Pt + Pd + Au over 0.7 metres Dave King, SVP Technical Services stated, "Drilling results reported today are from the near surface portion of the 109 FW Zone. The objective of the current drilling is to define the continuity of the high grade core of the zone, and the limits of the low-sulphide, high precious metal mineralized envelope. The 2024 drilling to date confirms the continuity of metre scale massive sulphide veins, grading up to 1.1% Ni, 8.3% Cu and 13.9 g/t Pt + Pd +Au over 3.0 metres , within a broader mineralized breccia averaging approximately 12 to 15 metres wide, and grading up to 0.3% Ni, 2.0 % Cu, 8.6 g/t Pt + Pd + Au over 14.0 metres (Figure 1 and 2). Data acquired will be used to update the 109 FW zone geological model and will facilitate planning of our Advanced Exploration program scheduled to commence in the second half of 2024." Currently two drills are active at Crean Hill, with one rig supporting Advanced Exploration planning, and six drillholes have been completed to date. A summary of assay results is presented in Table 1 and drillhole collars are presented in Table 2. A second drill has been focused on testing high-priority exploration targets in the footwall of the Crean Hill orebody. A third drill has recently been mobilized to the Shakespeare site and has commenced regional exploration drilling. Magna is fully funded to complete 25,000 metres of exploration drilling in 2024."
February 23, 202439 min
Abitibi Metals Corp CEO Jon Deluce
$AMQ $ANQFF drills on-site at the B26 Polymetallic Deposit (“B26” or the “Deposit”). The Company is currently completing its winter drill program at the Deposit, where a minimum of 10,000 metres is targeted by the end of March under the first phase of a fully funded 30,000-metre 2024 field season. This is the Maiden Drill Program at the B26 Deposit (Ind: 7.0MT @ 2.94% Cu Eq & Inf: 4.4MT @ 2.97% Cu Eq) Recorded Feb 13th 2023 Since recording this news was released: https://ceo.ca/@newswire/abitibi-metals-provides-drill-program-update-at-the "To date, fourteen holes have been completed, totalling 4,275 metres. Drilling in this first phase is broken down between 3 targets along strike testing the first 300 vertical metres: B26 Main Deposit 11 holes have been completed at this target, totalling 3,159 metres. The key objective of drilling within the B26 Main Deposit is to evaluate the open pit potential and potential up-dip near-surface extensions of the main deposit to the north. This testing is distributed over a 1.2-kilometre strike length and concentrated in the first 200 metres vertical. Satellite West: 3 holes have been completed at this target, totalling 1,116 metres. Targeting the geometric continuity of a potential satellite zone 500 metres to the west of the main deposit. Eastern Extension: Drilling at the Eastern Extension target will commence at the end of February, subject to ground conditions. Targeting the expansion of the main deposit to the east where 2.45% Cu Eq over 26.7 metres* , including 4.74% CuEq over 11.7 metres (1274-14-167) was intercepted in historical drilling." Holes 1274-24-301, 1274-24-302 and 1274-24-304 were designed to confirm the geometry of the copper-gold stringer close to the surface. They were planned as a 5-hole fence covering a large gap in the model between the current resource at 150 meters depth and the northern bedrock interface. These holes are located to the north of 1274-13-104, which graded 3.45% CuEq over a length of 9.5 metres* from 64.5 to 74 metres. Observations to date on 1274-24-301 indicate strong sub-parallel chalcopyrite stringer from 50 to 85 metres which includes one interval showing chalcopyrite concentration above 10% from 49 to 59 metres and an interval with 20% chalcopyrite from 81 to 85 metres." https://x.com/drjimjonesceo/status/1757235616536777209?s=20
February 8, 202432 min
RESOURCE UPDATE from OMAI GOLD 4.3 Million Ozs and growing
Additional 8 min of analysis at the end of the Twitter Spaces https://x.com/drjimjonesceo/status/1755649675586158810?s=20 PRESS RELEASE https://ceo.ca/@newsfile/omai-gold-increases-indicated-mineral-resources-to-a42ad Omai Gold Increases Indicated Mineral Resources to 2.0 Million Oz Au and Inferred Mineral Resources to 2.3 Million Oz Au with Expansion of Wenot Deposit Toronto, Ontario--(Newsfile Corp. - February 8, 2024) - Omai Gold Mines Corp. (TSXV: OMG) (OTCQB: OMGGF) ("Omai Gold" or the "Company") is pleased to report an updated Mineral Resource Estimate on its 100%-owned Omai Gold Property in Guyana. It includes an expansion to the Wenot Deposit and incorporates the previously disclosed Gilt Creek Deposit. Most significantly, the Wenot Mineral Resource Estimate ("MRE") increased the Indicated MRE to 834,000 oz (10% increase) @ 1.48 g/t Au and the Inferred MRE to 1,614,000 oz (45% increase) @1.99 g/t Au. HIGHLIGHTS: The Omai Property hosts two gold deposits: the shear-hosted Wenot Deposit and the adjacent intrusive-hosted Gilt Creek Deposit ( figure 5 ), with combined updated MRE (over the October 2022 MRE) of: 1,985,000 ounces of gold (Indicated MRE), a 4 % increase 2,279,000 ounces of gold (Inferred MRE), a 28 % increase Wenot Deposit (a constrained pit approach is applied) 834,000 ounces of gold (Indicated), a 10% increase over the October 2022 MRE, and 1,614,000 ounces of gold (Inferred), a 45% increase 1.48 g/t Au grade of Indicated MRE, a 10% increase 1.99 g/t Au grade of Inferred MRE, a 16% increase 87% above 350m depth from surface (figure 1a) 39% of Wenot MRE is west of the historical pit, an area considered to be well suited to initial mining ( figure 1b ) Excellent exploration potential is evident along a 2.5 km length of the host Wenot shear corridor, with potential to expand within, adjacent to, below, and along strike Gilt Creek Deposit (an underground mining approach is applied) 1,151,000 ounces of gold (Indicated) at a grade of 3.22 g/t Au , as per October 2022 MRE 665,000 ounces of gold (Inferred) at a grade of 3.35 g/t Au , as per October 2022 MRE Hosted within a 500 m by 300 m quartz diorite intrusive stock that produced 2.4 million ounces of gold (1993 to 2005) from the upper 250m Located 500 m north of the Wenot Deposit and below the past-producing Fennel pit Characterized by very wide sub-horizontal zones of gold mineralization (figure 4) Open to depth and holds potential for lateral expansion Preliminary Economic Assessment ("PEA") This updated MRE will form the basis of the PEA, currently underway and expected to be announced in Q1 2024 Elaine Ellingham, President & CEO commented, "We are pleased to deliver another substantial increase to the Mineral Resource Estimate for our Omai Gold Project in Guyana. Also very importantly, there has been a notable increase in the gold grades. With this expansion, the contained ounces in our Mineral Resource Estimate exceeds the total gold produced from the former mine, and at similar grades. The Omai Gold Mine produced approximately 3.8 million ounces at an average grade of 1.5 g/t Au between 1993 and 2005, when the gold price was less than US$400/oz. When in production, Omai was the largest primary gold producer in South America, averaging over 300,000 ounces of gold annually. We believe that with the current Mineral Resource Estimate combined with the many benefits of a brownfields project, that Omai is proving the potential to rival its historical status." Details of the Mineral Resource Estimate for both the Wenot (updated) and Gilt Creek Deposits are presented in Table 1. The increase between the new Wenot MRE with the previous October 2022 MRE is detailed in a comparison in Table 2. Notes accompanying the 2024 MRE are shown below Table 2, summarizing the economic and technical assumptions, which include a gold price of US$1850 per ounce and metallurgical recoveries of 92% (consistent with historical actuals), and a 45o pit slope for Wenot......(See release)
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