Quick Insights On: Greatland Gold, Pure Gold Mining, Condor Gold And Trans-Siberian Gold

Quick Insights On: Greatland Gold, Pure Gold Mining, Condor Gold And Trans-Siberian Gold

Greatland Gold PLC

Greatland Gold PLC (GGP) is a London, the United Kingdom-based company, which provides mineral exploration and development of natural resources. It is focused on gold in Western Australia and Tasmania. The company’s business is differentiated into two segments: The United Kingdom and Australia.

Recent News

On 9th July 2019, the company announced that it had started its primary drilling campaign at Greatland’s 100 per cent-owned Black Hills gold project in Western Australia. The drill programme contains around 20 Reverse Circulation drill holes to depths of increase to 300m for around 6,000m of drilling. The drill programme was intended to test an Induced Polarisation chargeability anomaly, length of around 1,400m, which is spatially coincident with gold mineralisation recognised at surface.

On 8th July 2019, the company announced that the exploration events had resulted in numerous gold pieces, confirming the existence of mineralisation across numerous kilometres of the strike at the group’s 100 per cent owned Panorama project. The region of gold mineralisation has been stretched further to 4.3km from 3.2km of the strike.

Financial Highlights (H1 FY2019, £)

(Source: Interim Report, Company Website)

The company reported an unaudited report for the period ended 31 December 2018, where the operating loss stood at £1,460,758, an increase as compared to the loss of £718,096 in H1 FY18. In H1 FY19, loss per share increased to 0.05 pence against the loss per share of 0.03 pence in H1 FY18. As of 31 December 2018, the group is well financed with around £4 million in cash, which will enable the group to follow multiple targeted exploration campaigns over its critical projects across the next 12-18 months.

During the H1 FY19, financial market and general commodity conditions were mixed, with the gold price refining amid a decrease in other commodity prices. However, the group maintains a good outlook for the gold price and commodity prices.

In 2019, the company intends to follow an innovative plan. The group plans to speed-up exploration over its portfolio of thrilling exploration assets and to move rapidly to follow up good recent drilling results at Havieron. This will focus on main regional targets in the Paterson, which the group believes remains under-explored.

In March 2019, the company expects to re-commence drilling at Havieron. Presently two rigs are reserved with providing for additional capacity if it is required. The group is planning to make additional announcements regarding the larger development of Havieron and update the market on this campaign. In the H2 FY2019, the group is likely to start a drill programme at Firetower to exam the big target identified by the prior year’s 3DIP survey.

Share Price Performance

Daily Chart as at July-09-19, after the market closed (Source: Thomson Reuters)

On 9 July 2019, GGP shares closed at GBX 1.83, up by 5.78 per cent against the previous day closing price. Stock’s 52 weeks High is GBX 2.55 and 52-weeks Low is GBX 0.98. The group’s stock beta stood at 2.09, reflecting higher volatility against the benchmark index. Total outstanding market capitalisation stood at around £59.49 million.

Pure Gold Mining Inc

Pure Gold Mining Inc (PUR) is a Canada based company, which is focused on gold exploration. Pure Gold Mining Inc. had announced the launch of the Exploration Program 2019 at its fully owned Madsen Red Lake Gold Mine located in Red Lake, Ontario. The exploration program focusses on Wedge, Fork and Russet South sites. The program will take place in phases to transform and optimize the mineral resources. This will act as a foundation of the recently completed Preliminary Economic study of these resources.

Recent News

On 21st June 2019, the company announced that it has entered into an agreement with Sprott Capital Partners LP to act as lead underwriter, on its own behalf and, if applicable, on behalf of a syndicate of underwriters, pursuant to which the Underwriters have agreed to purchase for their own account or arrange for substituted purchasers to purchase on a bought-deal private placement basis 59,100,000 units of the group, at a price of C$0.55 per Unit, for gross proceeds of C$32,505,000.

On 31st May 2019, the company announced the Exploration Program at its 100 per cent owned Madsen (Madsen Red Lake Gold Mine in Red Lake), Ontario.

Financial Highlights – Three Months Ended March 31, 2019 ($)

(Source: Quarterly Report, Company Website)

Net loss and comprehensive loss for the three months ended March 31, 2019, totalled at $2.8 million as compared to $7.2 million for the same period in the previous year. The most important contributors to the loss for the period ended March 31, 2019, and 2018, were (a) exploration and evaluation expenditures, (b) share-based compensation, (c) wages, consulting and directors fees (d) investor relations and communication expenditures (e) office and rent expenses, (f) professional fees and (g) income tax recoveries.

Exploration and evaluation expenditure dipped to $1.6 million for the three months ended March 31, 2019, compared to $7.6 million for the same period in the prior year. Share-based compensation expense decreased to $0.1 million for the three months ended March 31, 2019, as compared to $0.3 million in the same period in the prior year, reflecting the fewer number of vesting options.

On 29 March 2019, the Company issued 7,723,975 common shares pursuant to the 2019 Offering. The Company had not declared any dividends since incorporation.

Share Price Performance

Daily Chart as at July-09-19, after the market closed (Source: Thomson Reuters)

On 9 July 2019, PUR shares closed at GBX 34.50 and remained flat as compared with the previous day closing price. Stock’s 52 weeks High is GBX 36 and 52-weeks Low is GBX 30. The group’s stock beta stood at 1.50, reflecting higher volatility against the benchmark index. Total outstanding market capitalisation stood at around £90.41 million.

Condor Gold PLC

Condor Gold PLC (CNR) is a gold exploration company and is headquartered in the UK (United Kingdom). The company’s projects are in El Salvador and Nicaragua. The company’s interests contain around 10 concessions in the La India Mining District in Nicaragua and across four licenses in around two project areas in El Salvador. Its other projects include Rio Luna Concession, Estrella Concession, Potrerillos Concession, and Cerro Quiroz Concession.

Recent News

On 8 July 2019, the company reported that through a private placement of new ordinary per shares, raised around £4.04 mn, representing 27 per cent of the group’s present issued share capital. 

On 1 July 2019, the company expanded the La India Project land package by 29 per cent to 587.7-kilometre square with the grant of a significant concession, which is projected to host the extension of two north-northwest trending mineralised basement feeder zones that traverse La India Gold District.

Financial Highlights – quarter ended 31 March 2019 (£)

(Source: Trading Update, Company Fillings, LSE)

The company’s operating loss decreased to £352,989 as compared to £602,915 in Q1 FY18. Basic and diluted loss per share reduced by 0.47 pence to 0.50 pence as compared with the previous year same period data.

Share Price Performance

Daily Chart as at July-09-19, after the market closed (Source: Thomson Reuters)

On 9 July 2019, CNR shares closed at GBX 19.50 and remained the same as compared with the previous day closing price. Stock’s 52 weeks High is GBX 48 and 52-weeks Low is GBX 16.50. Total outstanding market capitalisation stood at around £14.52 million.

Trans-Siberian Gold PLC

Trans-Siberian Gold PLC (TSG) is a St Neots, the United Kingdom-based resource company, involved in developing and acquiring a portfolio of gold mining assets in Russia.  The group holds interests in the Asacha Gold Mine situated at the Kamchatka region.

Financial Highlights (FY2018, $’000)

(Source: Final Results, Company Fillings, LSE)

The company’s reported revenue increased by 38 per cent to $59.8 million as compared with the financial year 2017 of $43.4 million. EBITDA surged by 72 per cent to $23.9 million against the $13.9 million in FY17. Profit before tax stood at $17 million, an increase from the previous year data. Basic and diluted earnings per share increased to $11.30 cents as compared with the financial year 2017 of $2.29 cents. Proposed final dividend per share of $0.009 cents amounting to $1 million.

Annual production of gold in dore stood at 42,128oz, an increase of 15 per cent against the previous year data. Total gold production at refinery stood at 46,053 oz., an increase of 36 per cent as compared to prior year data. Cost of sales per oz. of gold stood at $788.

Share Price Performance

Daily Chart as at July-09-19, after the market closed (Source: Thomson Reuters)

On 9 July 2019, TSG shares closed at GBX 84 and decreased by 1.20 per cent as compared with the previous day closing price. Stock’s 52 weeks High is GBX 86.50 and 52-weeks Low is GBX 29.43. The group’s stock beta stood at 1.30, reflecting higher volatility against the benchmark index. Total outstanding market capitalisation stood £92.78 million, with a dividend yield of 1.69 per cent.