Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.


Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?


Please Try Again {{ error }}

Send my password

An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.

Mine at Gold Producer's JV Project in Nevada Commercially Producing

Streetwise Reports, Streetwise Reports
0 Comments| October 29, 2019

{{labelSign}}  Favorites

Observations from a recent site visit there are provided in a BMO Capital Markets report.


In an Oct. 22 research note, BMO Capital Markets analyst Andrew Mikitchook reported the main takeaways from a site visit to Premier Gold Mines Ltd.'s (PG:TSX) South Arturo joint venture project with Nevada Gold Mines.

The primary highlight, Mikitchook indicated, is that the El Niño mine at South Arturo in Nevada is now in commercial production, which began in September. Further, mine output could reach 30,000 ounces in 2019, which would surpass the previous expectation of 21,000 ounces.

Of note as well, the analyst wrote, is that "El Niño has extra capacity to mine existing reserves faster or to extend the mine plan to depth toward additional resources and new exploration intercepts." In addition, the potential exists via exploration to expand the mineralization not only at El Niño but also at Phase 3 and East Dee.

As for work in progress at the South Arturo property, noted Mikitchook, testing by five autonomous trucks at Phase 1's prestrip is scheduled to be completed by year-end 2019.

Also, the joint venture is constructing and evaluating an oxide heap leach at Phase 1 as a standalone development at South Arturo or for processing at the North Area.

Further, geological and metallurgical studies are being conducted on Phase 3 to inform the decision on whether or not to add the Phase 3 pit to the reserves and mine plan.

BMO has an Outperform rating and a CA$4.75 per share target price on Premier Gold. The stock is currently trading at around CA$1.95 per share.

1) Doresa Banning compiled this article for Streetwise Reports LLC and provides services to Streetwise Reports as an independent contractor. She or members of her household own securities of the following companies mentioned in the article: None. She or members of her household are paid by the following companies mentioned in this article: None.
2) The following companies mentioned in this article are billboard sponsors of Streetwise Reports: None. Click here for important disclosures about sponsor fees.
3) Comments and opinions expressed are those of the specific experts and not of Streetwise Reports or its officers. The information provided above is for informational purposes only and is not a recommendation to buy or sell any security.
4) The article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional and any action a reader takes as a result of information presented here is his or her own responsibility. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company mentioned on Streetwise Reports.
5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the interview or the decision to write an article until three business days after the publication of the interview or article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases.

Disclosures from BMO Capital Markets, Premier Gold, October 22, 2019


Analyst's Certification
I, Andrew Mikitchook, hereby certify that the views expressed in this report accurately reflect my personal views about the subject securities or issuers. I also certify that no part of my compensation was, is, or will be, directly or indirectly, related to the specific recommendations or views expressed in this report.

Analysts who prepared this report are compensated based upon (among other factors) the overall profitability of BMO Capital Markets and their affiliates, which includes the overall profitability of investment banking services. Compensation for research is based on effectiveness in generating new ideas and in communication of ideas to clients, performance of recommendations, accuracy of earnings estimates, and service to clients.

Disclosure 16: A research analyst has extensively viewed the material operations of Premier Gold.
Disclosure 17: Premier Gold has paid or reimbursed some or all of the research analyst's travel expenses.

For Important Disclosures on the stocks discussed in this report, please click here.

{{labelSign}}  Favorites


No comments yet. Be first to comment!

Leave a Comment

You must be logged in to be able to post a comment.

Get the latest news and updates from Stockhouse on social media


Featured Company