Colibri Resources – Exploration Update At All 5 Company Projects In Sonora Mexico
Ian McGavney, COO of Colibri Resources (TSX.V:CBI – OTC:CRUCF), joins us to provide a comprehensive exploration update on a 5 Company projects in Sonora Mexico. In prior interviews we’ve delved more into the 100% owned flagship Evelyn Gold Project, which does have ongoing drilling underway, but in this discussion we spent a little more time getting Ian to outline the exploration plans at the 4 JV projects.
We start off with the Pilar Gold-Silver Property joint-ventured with Tocvan Ventures, as they are still drilling their Phases 3 program out of 5 Phases, and have been putting out some promising drill intercepts. Next we moved over to the 3 joint-venture optioned properties being worked on by Silver Spruce – The Jackie Gold-Silver Project, El Mezquite Gold-Silver Project, and Diamante Gold-Silver Project. There are a number of upcoming drill programs, trenching programs, and groundwork mapping programs at all 5 Company projects and a great deal of newsflow on tap for the balance of 2022 for investors to keep tabs on.
Please email us with any follow up questions for Ian regarding Colibri Resources. Our email addresses are Fleck@kereport.com and Shad@kereport.com.
Click here to read over the recent news out of Colibri Resources.
Hi CaliJoe – Yeah, it was tough day in the PM stocks with GDX down 2.22%, GDXJ down 3.38%, SIL down 2.57% and SILJ down 3.73%.
It’s possible there is still further to fall in the current short-term corrective move, as Jordan and Doc Postma have outlined, as have both Dana Lyons last week and TG Watkins today (even though all of those guests are bullish on the PM sector in the medium to longer-term). Maybe if we have another month or two of weakness as Jordan discussed, which would finish the smaller handle in the mini-cup & handle (where the mini-cup is from Aug 2020 to March 2022) that this could correlate with a further pullback in the equities as well, and may fit into that head & shoulders pattern you noted on Hecla.
Overall the gold & silver stocks have held up much better than the metals for the last few weeks, but if they played a little catchup on this corrective move down, then I’d see that as a great last buying opportunity for investors to load up and buy the dip, before the next big move higher in the PM sector. So if HL does pull back down on the other side of the H&S pattern, I’ll be firing off some dry powder into that move.
Am starting to pick up my purchases here in drips and drabs—some nice bargains in junior miners and am waiting for some of the silver stocks to get even cheaper—-the candy store will never be cheaper then in the next few weeks and months. As mentioned many times in the past the FED will probably be more aggressive then many think and that will be problematic for many asset classes. At first those that buy the conventional markets will not believe the FED and will have to feel considerable pain. Starting to like CDE here but probably has one more plunge down.
Thank you DOC! I’ve my eye on CDE but I’m waiting for it to come to $4. What are your thoughts on trading TBT? I also went short on Oil for first time.
Cali, TBT has had a nice run already but looks like it could run yet to 23 before meeting significant resistance.
Hi Doc – Yes, I’m watching (CDE) Coeur as well to go poaching and add a bit more to my position if we see another move down over the next month or two.
Personally, I found more bargains overall last Sept/Oct and December than at present, but it’s stock specific, as there are some making new lows at the end of Q1 recently like Elevation Gold Mining (ELVT), Wallbridge Mining (WM), Integra Resources (ITRG), not to mention the train wreck that has been Pure Gold (PGM).
Still, there are plenty of mid-tier producers and royalty companies and even some developers that have already bounced off their lows last year and while they are pulling back down, won’t reach the lows they made at the end of Q3 or Q4.
Thanks for mentioning ITR—it’s been off my radar.
Yeah, ITRG has really had a fall from grace, even as their deposit has grown more robust through more exploration success, and has been further derisked, so I recently jumped back in again on March and started building a position back in it.
I see Integra as one of roughly a dozen companies with multi-million ounce deposits that may get acquired by the big boys in the next leg higher of the PM bull market over the next 2-3 years. It’s definitely on the clearance rack at present.
Yes ELVT, it’s a head scratcher for sure.
We are working on getting them on the show Terry, but apparently they are rebranding their message to the market and will be coming out to update investors in the not so distant future. Personally, as prior shareholder of Northern Vertex, I was a bit puzzled at the acquisition of Eclipse for Hercules when they didn’t even have the funds to do much exploring on it last year, so what was the rush in acquiring it then? Why didn’t they just put their head down and charge on the Moss Mine, as apparently they’ve got a good land package with plenty of exploration.
It didn’t really seem like either prior companies group of shareholders really liked the merger, but it is what it is at this point, and is water under the bridge, so any remaining shareholders are in for the combined assets. Now the team running Elevation Gold is largely made up of the prior Eclipse team with some remaining Northern Vertex members, and the primary initiative is to explore and expand around the Moss mine, and rightly so, to extend the mine life and look for ways to get the revenue higher, to avoid needing more capital raises. At these higher metals prices, gold producers should be able to turn a profit. That should be primary, but I’m still curious to see if they are going to finally do any work to start exploring or developing Hercules, and am looking forward to seeing if ELVT can get things turned around with both operations and improved with investors sentiment towards their 2 projects.
Personally, I recently added just a bit more last week, as the market cap of this company is really quite silly as a gold producer, being valued below many grassroots explorers, and apparently getting zero value for Eclipse’s prior flagship project Hercules. I’m hoping it is not just throwing good money after bad at this point, but I’m willing to take a punt down at these levels that the management team and board can relaunch this company to the marketplace and gradually start building value once again.
Just when you think PM stocks are about to take off, here comes the smash Lol. Anyone else noticing Head & Shoulder pattern on Hecla chart?
https://stockcharts.com/h-sc/ui?s=HL&p=D&yr=2&mn=10&dy=0&id=p21928872098&a=1137304831&listNum=1