Watch List

Besides a host of other stocks like for example other categories like the GMIS stocks or Leveraged plays, I am always monitoring between 50 and 80 micro/smallcap companies throughout the year, which have, at least in my view, the most interesting projects besides my own portfolio picks. When one of my portfolio positions is to be closed for whatever reason, usually I look for starters at the Watch List stocks, in order to have one of them possibly selected to be promoted into the vacant position.

To give you an idea, I'll provide you with a sample of my Watch List database, without regular updates, without the ranking system and also without my top 25 Watch List companies. This is prohibited to my loyal Seekingalpha subscribers. For your convenience, you can download the spreadsheet here.

The information in this spreadsheet may contain errors so please verify all data by yourself. A full legal disclaimer can be found here.

#TickerCompanyPPS C$/A$/GDPPPS C$/A$/GDPPPS C$/A$/GDPPPS C$/A$/GDPMCMCO/SCash+eq.Curr. As.Total Liab.Cash+eq/EVEVMetalJurisdictionFraserFlagshipTypeProcessStageR&RGradeNPV5IRRBase CaseUnitCapexProductionAISCCFMC/CFMC/NAVEV/unitStory
12-7-1511-13-159-21-157-30-15C$/A$/GDPM $M M C$/A$/GDPM C$/A$/GDPM C$/A$/GDPMCM C$/A$/GDPM $M oz/t/lbsAv. Eqpost taxpost tax$ per unitM $oz/t/lbs pa$M $$$$ oz/t/lbs
1HUM.LHummingbird Resources0,150,190,2600,29020,3142,58106,9101130,20,4939,560,1GoldLiberia, Mali51,97Dugbe 1/YanfolilaOPMill/CILDFS62,0072,435,10%1250,00oz Au71,679000733N/AN/A0,5910,0231Yanfolila fully funded by Taurus, production in 2016, Dugbe in Liberia will bring company from 79k to 200k status. 8% contingency for Yanfolila is extremely low so that's a risk > no news> Received a $10+5M bridge loan from Taurus
2PVG.TOPretium Resources7,297,327,3806,370976,63709,76133,4212035470,12988,6718,5GoldBC, Canada60,73Brucejack/SnowfieldUGMill/CILFS13,616,50145028,50%1100,00oz Au746,9404000448N/AN/A0,4952,8297Big dispute over resource between Snowden and Strathcona, biggest very high grade project globally > $540M debt/stream capex funding by Orion/Blackstone for 70% of capex covered, WACC 12-13% > no news
3SMF.TOSemafo3,393,063,0302,610899,92654,01294,091833142630,20848,9616,9GoldBurkina Faso50Mana/NatougouOPMill/CIL/HLProduction7,53,10N/AN/AN/Aoz AuN/A260000735120,75,42N/A82,2592One of the lowest cost producers in anything of a normal jurisdiction > about to expand to 400koz pa with Orbis assets > not affected by BF coup > Q3 CF $34,8M, 67,2koz Au, AISC guidance to $640/oz
4RPM.VRye Patch Gold0,1250,130,1350,14018,9213,75145,524600,2112,99,4GoldNevada, US79,89Lincoln HillOPHeap LeachPEA0,980,6540,953,00%1350,00oz Au303300075962,290,349,5794Massive royalty income of $6M pa, but very small profitable project, problems with expl. 2015 permit, unclear exploration potential> finished metallurgical drill program> drill results Lincoln Hill expected in Dec 2015
5IO.VInca One Gold0,10,1150,1050,1408,486,1673,726130,2415,511,2GoldPeru53,88ChalaTollm.Mill/CILProductionN/AN/AN/AN/AN/Aoz AuN/A12000N/A-3,5-1,76N/AN/ABest tollmilling story, best quality of project, people, slowly turning around losses> acquired Standard Tolling, main asset of Montan, needs lots of cash for buying ore > TON deal changed into plant only
6BCN.VBacanora Minerals1,761,781,7001,450151,21109,8984,959910,06143,2104,1LithiumMexico52,02SonoraOPMill/CILPEA160,20,30%84884%6000,00t LCE114350003500N/AN/A0,130,6497See PRO analysis. Most profitable lithium project worldwide, but still PEA stage > Announced LOI with Tesla, no advance payments made so no big deal> no news
7GOR.AXGold Road Resources0,380,380,4000,315260,84187,52686,41323400,12226,8163,1GoldWestern Australia84,91GruyereOPMill/CILPEA6,771,3038024%1350,00oz Au360190000916N/AN/A0,4924,0877Largest gold discovery of last 10y in Australia, could grow much bigger, not all is OP mineralization > only 7% increase in latest JORC update (vs. 2012) > finding mineralization at other targets as well
8SVB.TOSilver Bull Resources0,040,060,1000,1059,546,94159,072210,218,56,2SilverCoahuila, Mexico52,02Sierra MojadaOP/UGMill/CILNI43-10191,149,60N/AN/AN/Aoz AgN/AN/AN/AN/AN/AN/A0,0682Has 2,4B lb 11% zinc as part of polymetallic deposit > no news > no news
9RMC.VReservoir Minerals4,144,34,3604,180203,00147,5347,21103400,05169,0122,8CopperSerbia/Macedonia24,05Cukaru PekiUGMill/CILNI43-10150283,50%N/AN/AN/Alb CuN/AN/AN/AN/AN/AN/A0,0244Highest grade copper discovery of the decade outside DRC, 45-55% JV with FCX > FS 25-75%. PFS coming up in Q4 2015 > no news > TC150073/75 results still pending, new JV with Rio Tinto on other Serbia projects
10SGC.VSunridge Gold0,270,250,2000,15052,4938,14209,9416110,0257,541,8CopperEritrea37,15AsmaraOP/UGMill/CILFS12651%42827%3,25lb Cu43755000000N/AN/AN/A0,090,0330Staged development, DCF based on 10% discount, project 60% owned, Eritrea 40% > recently received mining licenses for Asmara > Sunridge sells Asmara interest to Chinese party, will pay all cash to shareholders
11RTG.TORTG Mining0,450,50,4800,70067,1348,78134,25101000,1557,141,5GoldPhilippines5,23Mabilo/BunawanOPMill/CIL/HLNI43-1012,15,70N/AN/AN/Aoz AuN/AN/AN/AN/AN/AN/A19,7692Team of $1.1B CGA-B2Gold merger has new venture in Philippines, FS expected in Q3, 2015, very high grade gold/copper open pit operation, 60/40 JV with contractor > very good drill results > FS expected in Q4 2015, res. + 52% Ind.
12SSO.TOSilver Standard7,46,838,7107,020551,52400,8280,752666765700,48445,5323,8SilverNevada, US/Argentina79,89Marigold/PirquitasOPMill/CIL/HLProduction1455110,00N/AN/AN/Aoz AgN/A9500000141203,34N/A0,2225Most profitability comes from Marigold, which has only temporarily improved figures. Lots of leverage, slow growth > discovered high grade Ag at Pirquitas and Au at Marigold > massive losses for Q3
13PRU.TOPerseus Mining0,3250,330,2900,310173,79126,30526,651152181300,6685,862,4GoldGhana, Cote d'Ivoire57,97Edikan/ SissingueOPMill/CIL/HLProduction6,11,10N/AN/AN/Aoz AuN/A212000877403,16N/A10,2214In 2017 270koz pa, 2018 315koz, 2020 390koz, few years of high AISC coming up first, part of production hedged for 2015 > FY2015 $71M net profit, $136M working capital > lowering costs
14NSU.TONevsun Resources3,453,613,8804,290721,13524,08199,765657144130,78420,1305,3CopperEritrea37,15BishaOPMill/CILProduction16501%N/AN/AN/Alb CuN/A1650000001,71503,49N/A0,1850Cash cow, transforming to predominantly zinc > still FCF positive, going as planned> barely FCF postive due to metal prices crashing, zinc expansion on time/budget
15LSG.TOLake Shore Gold1,041,051,1501,150458,50333,21436,67871121550,19501,5364,5GoldOntario, Canada72,35Timmins West,/BellUGMill/CILProduction5,94,00N/AN/AN/Aoz AuN/A180000950111,32,99N/A61,7737Take over target for Goldcorp, just bid for Temex, possibly adding 0,87M oz high grade and 4M low grade. Production ramped up, static now > Temex acquired > 144 drilling successful, Q3 earnings in the red
16AR.TOArgonaut Gold1,231,241,3401,250191,12138,90154,13581621190,30148,1107,6GoldMexico/Ontario, Can72,35El Castillo/La Colorada/MaginoOPMill/CIL/HLProduction11,40,60235211100oz Au30214000088342,53,27N/A9,4427San Antonio is halted by court order, Magino is not economic now> Magino PFS update: NPV% 235M IRR 21% gold 1100, based on FX/oil improvements so nothing solid> 2015 losses are mounting
17ASM.VAvino Silver & Gold1,271,241,3501,27045,1432,8036,4922310,2054,139,3SilverDurango, Mexico52,02AvinoUGMill/CILProduction54250,00N/AN/AN/AN/AN/A134200012,247,94,15N/A0,7286Ramping up producer, no reserves, studies, but production and CF will increase dramatically over 2015 > $0,8M CF for Q2 2-15 > Q3 CF $1,4M, slowly improving financials, costs coming down
18GSC.TOGolden Star Resources0,260,2750,3000,30571,3651,86259,537933980,52376,4273,5GoldGhana57,97Wassa/Prestea/BogosoOPMill/CILProduction11,22,5017683%1200,00oz Au39150000938317,290,2924,4214Bogoso depleted this year, high margin Prestea and Wassa take over, under construction > no news> almost neutral for Q3, AISC coming down, CF $45.3M
19DNG.TODynacor Gold Mines1,521,61,5901,75058,3842,4336,49172860,2936,426,4GoldPeru53,88Huanca/Veta Dorada/TumipampaTollm.Mill/CILProductionN/AN/AN/AN/AN/Aoz AuN/A76000N/A8,15,24N/AN/AChala plant ready in Q1 2016, maiden NI43-101 coming up in Q4 2015. With Chala, production is projected to double in a year. Chala on schedule, Tumipampa sampling indicates also porphyry system next to veins
20XRC.TOExeter Resources0,50,430,4600,48538,0127,6388,4242400,6314,010,2GoldChile72,23CaspicheOPHeap LeachPEA39,60,8825228,50%1300,00oz Au251122000676N/AN/A0,110,2571DCF is smallest option due to low metal prices, huge resource. Chile is changing towards large projects + water issues > permitting issues likely > lots of granting options going on> no news
21TGZ.TOTeranga Gold0,50,560,5900,540197,57143,58352,8401422860,20341,6248,2GoldSenegal50SabodalaOPMill/CIL/HLProduction8,51,20N/AN/AN/Aoz AuN/A215000950572,52N/A29,2038212 koz to 230 in 2015, 250 in 2016, after that expansion to 300koz . No news > Q3 production declined to 33koz by rainfall, guidance lowered to 200koz, cost base lower too
22POS.AXPoseidon Nickel0,050,060,0580,07041,8530,09697,562,831000,07138,999,8NickelAustralia75Windarra/Lake Johnston/Black SwanUGMill/CILConstruction838,20,86%N/AN/AN/Alb NiN/AN/AN/AN/AN/AN/A0,1191Starting nickel producer in Australia, first mine is about to start, next needs a bit of financing > tried to sell nickel mine Silver Swan, buyer Caeneus failed. Bit inactive > no news, very low on cash
23TK.VTinka Resources0,140,1550,2050,17021,7815,83140,56600,2815,811,5ZincPeru53,88Colquipucro/AyawilcaUGMill/CILNI43-10117005,90%N/AN/AN/Alb ZnN/AN/AN/AN/AN/AN/A0,0067Zinc play with lots of upside potential, also 27.5Moz Ag in second project. Reshuffled management last year > no news > below average drill results on Ayawilca
24MOZ.VMarathon Gold0,160,170,220,23014,9510,8687,923420,2012,99,4GoldNewfoundland, Canada88,43Valentine LakeOPMill/CILNI43-1011,262,30N/AN/AN/Aoz AuN/AN/AN/AN/AN/AN/A7,4672Recently arranged new cash so PEA can be completed > drilling extended Valentine strike into new high grade zone > ending JV in Golden Chest Mine, receiving $0,2M
25FOM.VForan Mining0,0750,0950,1300,1508,626,2790,771100,127,65,5ZincSaskatchewan, Can89,65McIlvenna BayUGMill/CILPEA6860,1326319%0,93lb Zn243590000000,3N/AN/A0,020,0081Actually copper dominant > probably leveraged now as PEA Cu price is $3,05/lb. Good exploration targets > no news > no news
26CEM.VConstantine Metal Resources0,0550,080,1150,1359,356,79116,851100,118,36,1ZincAlaska, US71,69PalmerUGMill/CILNI43-1019805,50%N/AN/AN/Alb ZnN/AN/AN/AN/AN/AN/A0,0062Up to 51/49 JV with Dowa (Japan), Constantine is operator, receives 5-6M pa for exploration. VMS deposit > no news > no news> Exploration results disappointed
27ATY.VAtico Mining0,3050,380,3750,45537,0926,9597,6717560,1976,155,3CopperColombia41,99El Roble MineUGMill/CILProduction2216,35%N/AN/AN/Alb CuN/A9538/9MN/A1226,95N/A0,2502High grade copper and increasing production + CF, but no reserves/study > decent Q2, expect a much better Q3> Q3 prod. In line with expectations > Still producing at a loss, had to pay $0,5M after lawsuit
28VTT.VVendetta Mining0,070,090,1000,0901,861,3520,620,20,200,111,71,2ZincQueensland, Australia66,13PegmontOP/UGMill/CILNI43-1013182,79%N/AN/AN/Alb ZnN/AN/AN/AN/AN/AN/A0,0038Low on cash, slowly exploring because of this, needs more exposure > $0,2M first tranche PP closed on Sept 14, 2015 with RCF VI > no news
29AUM.TOGolden Minerals0,280,30,4100,33015,9511,5953,161480,0619,914,5SilverDur., Mex. Salta, Arg.52,02VelardenaUGMill/CILProduction126230,00N/AN/AN/AN/AN/A100000025-5-2,32N/A0,1151Starting up production, AISC is projected to go down to $13-16 > leveraged play > Q2 2015 3.9M net loss > Velardena operations halted due to low metal prices plus lower than anticipated feed grades