If you are looking for cheap/undervalued mining companies I've come across one recently that seems like it is on the up and up.
Portofino Resources ( $POR.V $PFFOF ) is an mineral exploration and development company that owns projects in the Americas. This includes the Yergo Lithium property (Argentina), the Allison Lake North Lithium project (Ontario) as well as several prospective gold projects in Ontario.
Just yesterday $POR announced that they received $650K from a non-brokered, private placement comprising.
In this PP $POR sold units which consisted of one common share and one purchase warrant to buy a $POR share for $0.12..
What I find the most promising about this news is that the $650K will be used in part for the first phase drill program on the Yergo lithium project.
The drill program will be a huge step toward production for the company, which is when I think this stock is really going to pop off.
Right now $POR is trading for $0.12, MC is $9.93 M
Full press release here: https://www.barrons.com/articles/portofino-closes-oversubscribed-private-placement-01634740980