Metalla Royalty and Streaming (MTA.C) brings on rock god Lawrence Roulston as Chairman

The following Epstein Research interview of Lawrence Roulston, newly appointed non-executive Chairman of Metalla Royalty & Streaming (MTA.C) was conducted by phone and email in the week ended November 5th.  Lawrence has 35 years’ of diverse hands-on experience.  He recently founded WestBay Capital Advisors, providing business advisory & capital markets expertise to the junior & mid-tier sectors of the mining industry.

LiCo Energy Metals (LIC.V) Q&A: Doing deals with Glencore

Greg Reimer is the former Executive Vice-President of BC Hydro’s Transmission & Distribution network.  BC Hydro is Canada’s 3rd largest electric utility with over $5.7 billion in revenue.  Greg has a wealth of operational experience and strong leadership skills from over 26 years in the public sector.  A Certified Public Accountant by profession, Greg held a number of senior leadership positions in in the public sector prior to joining BC Hydro.

Epstein: Velocity Minerals (VLC.V) is a big gold opportunity in Bulgaria

Velocity Minerals (TSX-V: VLC) is a gold (“Au“) exploration & development junior focused on eastern Europe. Others in the region are an all-star lineup, including Eldorado Gold (ELD.T), Nevsun (NSU.T), Freeport McMoran (FCX:NYSE), Rio Tinto (RIO:NYSE), First Quantum (FM.T), Teck (TECK.B.T), and Lundin Mining (LUN.T). In July, the TSX Venture exchange approved a transformational deal in which Velocity acquired options on two highly prospective properties in southeastern Bulgaria.  In conjunction with these new assets, a talented new management team and Board is in place.

NuLegacy Gold (NUG.V) remains a tempting takeover target

NuLegacy Gold shares traded 10 percent higher on very heavy volume (1.4 million shares vs. 110,000 on average) on July 25, on news that it had discovered a material new gold zone in a wildcat step-out hole 375 metres (1,200 feet) west of the north zone of the Iceberg gold deposit. I think this important development could prove to be a turning point in the fundamental view of the company, especially coming on the heels of last week’s announcement. On July 18, management announced the unrelated discovery of a new structural exploration target (the Western Slope anomaly) with the same geological characteristics as the Iceberg gold deposit.

Metalla (MTA.C) signs blockbuster gold/silver royalty and streaming deal

On June 12th Metalla Royalty & Streaming (CSE: MTA) (OTCQB: EXCFF) (FRANKFURT: X9CP) announced that it had entered into a transformational agreement to acquire a portfolio of 3 Royalties and 1 Streaming assets from Coeur Mining (NYSE: CDE).  The purchase price was US$ 13 M, consisting of common shares in Metalla that will be 19.9% of pro-forma capital structure.  As per terms of the agreement, assuming a C$0.60 deemed conversion price, the remainder of the US$ 13 M purchase price would be a ~US$ 6.6 M unsecured convertible bond with a 5.0% coupon.

How undervalued is Golden Arrow Resources (GRG.V)?

After reading a few articles & interviews of Chairman, President & CEO Joseph Grosso, I’m struck by the lack of investor appreciation of Golden Arrow Resources‘ (TSX-V: GRG), (OTCQB: GARWF) blockbuster news of it entering into a 25%/75% JV with mid-tier gold / silver producer Silver Standard Resources (NASDAQ: SSRI) (TSX: SSO). In the 18-month period since agreeing to evaluate a combination of Silver Standard’s Pirquitas mine and Golden Arrow’s Chinchillas Silver project in Argentina, it invested ~US$ 16 M (plus a C$ 2 M option payment) into the Company. Among other things, this capital paid for 24,000 m of drilling, engineering studies and metallurgical test work, culminating in a Pre-Feasibility Study (“PFS”). Overnight, Golden Arrow jumped from explorer to 25% owner of a producing mine and Mill. Does the Company’s valuation embrace this monumental de-risking event? I believe there are 3 primary reasons for the under-appreciation of the [Chinchillas / Pirquitas Mine] JV. At first blush, the PFS for a proposed 8-year mine life at the Company’s Chinchillas project with a post-tax NPV of US$ 178 M left investors underwhelmed. 25% of US$ 178 M = US$ 44.5 M = C$ 60 M (equal to about C$0.60/share). Second, the PFS used a fixed, long-term Ag price assumption of US$19.50/oz vs. the current spot price of about US$17.25/oz. Third, there’s uncertainty as to how management will fund Chinchillas’ estimated US$ 20.25 M capital requirement over the next 18 months (and also be able to fund other important exploration activities, such as at Antofalla; see below). Although not the focus of this article, Golden Arrow controls ~25 other land packages totaling ~214,000 hectares. NOTE: {Please see Corp. Presentation for more info}

Epstein interview: LiCo Energy Metals (LIC.V) director Dwayne Melrose talks cobalt

Dwayne Melrose is a Director & Chair of the Technical Committee for LiCo Energy Metals [TSX-V: LIC / OTCQB: WCTXF / Frankfurt: 43W1].  I interviewed Dwayne by phone and email in the week ended May 5th.  While the interview focused a bit more on the Company’s Lithium project in Chile, the Cobalt opportunity in Ontario, Canada is exciting as well, and LiCo is funded to actively advance both projects.  Here’s a great infographic on the Company.