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John Miniotis, President and CEO, commented, “Our drill results continue to far exceed expectations. The consistency of our Phase I exploration program has been quite remarkable, as we’ve now intersected high grade mineralization over impressive widths..
M&A continued to pick up, this time with Fortuna Silver making a bid for Roxgold.
Silver also broke out of a short-term downtrend when it broke $26/oz. and is currently hovering right around that level. The miners have reacted favorably and have run up nicely but are still incredibly cheap and priced as if gold were priced $200-$250/oz. lower.
Demonstrating Considerable Extension Potential Northeast of the Known Mineralized Zone. Highlight results: 36m @ 399 g/t AgEq (incl. 5m @ 1,645 g/t AgEq), & 45m @ 172 g/t AgEq
Company news started to pick up once again after two quiet weeks. Earnings season is about a month away, so company news could turn down again before picking up.
Companies started to report Q1 production results in what was otherwise a quiet week. Gold and silver prices saw nice rebounds, but it is unlikely we have resumed the uptrend.
Management withheld metal from sale during the price correction over last two weeks of March and plans to sell the withheld metal inventory in anticipation of a precious metal prices rebound in Q2, 2021.
Considerable Extension Potential Northeast of the Known Mineralized Zone Highlight results: 36m @ 399 g/t AgEq (incl. 5m @ 1,645 g/t AgEq), & 45m @ 172 g/t AgEq
The silver miners’ stocks have mostly consolidated high over the past half-year or so, mirroring resilient price action in the metal they produce. But this relative strength has been overshadowed by the extended correction in gold, which forced gold stocks lower.
Builds on Highly Successful Phase I Drill Program
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