It was a quiet, holiday-shortened week with little news flow. The metals got hammered early in the week, with gold and silver looking like they were going to break down.....
Not only is the 2021 drill program confirming the continuity of mineralization in the Ounce Hill and Bacchus areas of the Eagle Mountain deposit, but it is also delivering several enhancements.
With the largest Mineral Reserve base in the last 10 years, and the highest reserve grade on record, we have increased confidence in our ability to generate strong cash flow providing a platform to fund organic growth .
It is worth reiterating that this could be the last great buying opportunity, but only time will tell. Companies covered: $EQX, $GLDX, $GRSL, $MTA, $MMX, $NFG, $OSK, $ROXG, $SLVR, $TXG, $VGCX, $WM, $WDO, $WPM
The bottom line is the mid-tier gold miners in the sweet spot for stock-price upside potential just reported one of their best quarters ever. Adjusted for majors removed from GDXJ, the rest of its top components achieved production growth way better than their larger peers.
For the year ended December 31, 2020, the Company sold 29,929 gold ounces at a total cash cost of $928 per gold ounce, and a realized 2020 average sales price for gold of $1,813 per ounce. The Company recorded revenues of $54.0 million, and net income of $10.2 million, or $0.48 per share.
