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Update: Klondex Mines Raises C$10.3 Million Through The Exercise Of Warrants
- Klondex Mines shareholders just exercised 7.5 million warrants with a C$1.75/share strike, to raise a total of C$10.3 million.
- I had not anticipated this in my previous article.
- This dilution could pressure shares, but Klondex is well-capitalized and generating a lot of free cash flow, making this stock a buy on weakness.
Update: Klondex Mines' Q3 Financials Show Strong Cash Flow
- Klondex Mines reported strong earnings as its Fire Creek/Midas Project is one of the lowest cost producers in the industry.
- This is better than my expectations.
- Klondex may be a little pricey but it is the lowest cost gold producer that I follow, and it is worth owning on weakness.
Klondex Mines: Developments At The Midas Project Mean More Upside For This Junior Gold Mining Winner
- Klondex Mines continues to outperform its peers, but this outperformance doesn't reflect even stronger fundamental improvements..
- The company's Midas Project, which at one point appeared to have a dwindling low grade resource may be as compelling as the Fire Creek Project..
- While we haven't seen a mine plan, Midas contains a high grade deposit the size of Fire Creeks, and management is exploring aggressively. .
- As investors come to realize the value of the Midas Project beyond the Mill Klondex shares stand to benefit substantially.
Update: Klondex Mines Commences Its Exploration Program At Its Midas PropertyBen Kramer-Miller • Mon, Sep. 8
- Klondex Mines announced that it is commencing exploration at its newly acquired Midas Property.
- I anticipated this when discussing the Midas acquisition from Newmont Mining in December.
- While the company's real promise is at its nearby Fire Creek Property we might be surprised should the company find any more gold and silver at Midas.
- Klondex Mines reports net income of $4.4 million and cash-flow of $14.2 million on revenue of $36.4 million.
- The company's second quarter was the first of full production, and as I expected the Fire Creek Project is highly profitable.
- While the current mine plan is short, Klondex's Fire Creek Project has excellent exploration potential making this a compelling speculation stock.
Update: Klondex Mines' Karen Vein Bulk Sampling Yields Incredible Gold Concentration
- Klondex Mines completed a 7,300 ton bulk sampling of its Karen Vein at its Fire Creek Project that yielded 31.5 gpt.
- I have suggested in the past that I believe the Fire Creek Project has incredible exploration potential given the existing high grade resource.
- This news furthers my contention that Klondex Mines remains a compelling gold speculation stock.
- Klondex Mines entered into an agreement to raise C$14 million in a private placement valued at C$2/share--a 4% discount to the market value.
- The company plans to use the money to accelerate the development of its projects and to further explore its properties.
- The stock remains a compelling speculation play, although a dilution often comes with a pullback, so I'd wait before buying.
Klondex Mines Remains A Compelling Speculation Stock After The PEA Announcement
- Klondex Mines released a PEA on April 29th.
- While the report shows less production than I anticipated the potential for additional production is still there while production costs will remain low. .
- The company is ultimately overvalued on a DCF basis using the cash-flow that we can accurately calculate, but the unknowns dramatically improve the upside potential. .
- Therefore Klondex Mines remains a compelling speculation stock for gold bulls.
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KLNDF vs. ETF Alternatives
Klondex Mines Ltd. is engaged in the acquisition, exploration and development of mineral resources with the current focus being gold in the state of Nevada in the USA. Klondex holds mineral interests covering the Fire Creek project and the Midas mine and ore milling facility, which properties... More
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