Midland, Vista, Lara All Make Progress on Projects, Are 'Best Buys'

Source: Adrian Day for Streetwise Reports   09/08/2021

The Global Analyst has been focusing on the senior producers more in the last many months, since they are undervalued and more certain to respond to a higher gold price. They remain good buys. However, many of the juniors have seen their stock prices slide and there are excellent buys in that sector. Below are three of our favorite resource juniors, all buys.

Midland Exploration Inc. (MD:TSX.V) continues to be active on exploration programs both on wholly owned ground and joint ventures, with some interesting results.

Last week, it announced results of its summer drilling campaign on its large, prospective Mythril Project in James Bay. The new results show copper, molybdenum, gold, and silver, near surface. The project is 100% owned by Midland, but BHP took a large placement in the company following its initial results after it was discovered in late 2018, and Midland closely consults with BHP over plans for the project.

Midland is continuing exploration at Mythril including seeking additional regional targets. With several active programs, well-funded Midland is a strong buy.

Vista’s Feasibility Study Underway

Vista Gold Corp. (VGZ:NYSE.MKT; VGZ:TSX) has commenced the third phase of a drilling program at Mt. Todd after completing 18 holes. The campaign is drilling new areas between the core Batman deposit and the newer Quigleys deposit, seeking to add resources and extend the mine life.

This exploration drilling has been successful so far.

Vista also announced that work on the Definitive Feasibility Study is underway, on track for completion in the first quarter of next year. This program will use a higher gold price and include more resources than the previous preliminary feasibility study (which used a $1,000 gold price). Some input costs will be higher than in the earlier study, but on balance the new study should show meaningfully improved economics.

Vista is a buy.

Lara Expands Promising Projects

Lara Exploration Ltd. (LRA:TSX.V) continues to advance several projects. It received the second option payment of $200,000 from Minsur SA for that company to earn its interest in the Lara Copper Project in Peru. And perhaps more significantly it announced that BHP has transferred a property that surrounds Lara’s Puituco project, also
in Peru.

Lara previously reported very promising chip samples from Puituco but the project was small without BHP’s adjoining Kenita property. Lara remains a buy.

Best Buys, in addition to those above, include Hutchison Port Holdings Trust (HPHT:Singapore); Orogen Royalties Inc. (OGN:TSX.V); Fortuna Silver Mines Inc. (FSM:NYSE; FVI:TSX; FVI:BVL; F4S:FSE); Barrick Gold Corp. (ABX:TSX; GOLD:NYSE); and Pan American Silver Corp. (PAAS:TSX; PAAS:NASDAQ). Two other favorites, Osisko Gold Royalties Ltd. (OR:TSX; OR:NYSE) and Altius Minerals Corp. (ALS:TSX.V), both volatile, would be “best buys” on any pullback.

And, Finally, an Event in Colorado

I am off to Colorado for two back-to-back gold conferences where I shall be having one-on-one meetings with most of the companies on our list. I aim to follow up with you on these meetings.

While in Colorado, I am holding a private seminar for clients and friends. This will be in downtown Denver, on Saturday, Sept. 11th in the afternoon. For information and to register, please contact the office at 410-224-8885 or [email protected]. You are welcome to come and bring a friend.

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1) Adrian Day: I, or members of my immediate household or family, own securities of the following companies mentioned in this article: All. I personally am, or members of my immediate household or family are, paid by the following companies mentioned in this article: None. My company has a financial relationship with the following companies mentioned in this article: None. Funds controlled by Adrian Day Asset Management hold shares of the following companies mentioned in this article: All. I determined which companies would be included in this article based on my research and understanding of the sector. Additional disclosures are below.

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( Companies Mentioned: ALS:TSX.V, ABX:TSX; GOLD:NYSE, FSM:NYSE; FVI:TSX; FVI:BVL; F4S:FSE, HPHT:Singapore, LRA:TSX.V, MD:TSX.V, OGN:TSX.V, OR:TSX; OR:NYSE, PAAS:TSX; PAAS:NASDAQ, VGZ:NYSE.MKT; VGZ:TSX, )