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Hooray, Hooray: Ximen Mining is Back!

Stephan Bogner Stephan Bogner, Rockstone Research
0 Comments| May 19, 2020

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It was pretty quiet around Ximen Mining Corp. during the past corona weeks. Some may have thought, “Houston, we have a problem?” Far from it!

On Friday after market close, the company announced its plans to go full throttle now – emphasizing in the headline of its press-release with a triple repetition: “DRILL, DRILL, DRILL”

After several new properties in southern British Columbia have been acquired in the last months, Ximen is obviously eager to find out by the drill bit what it has grabbed just before the gold price started to soar.

According to the press-release, the exploration season is expected to begin in June “and we anticipate initiating drilling activities immediately on the existing permitted areas”, the company noted and added, “we see a very busy season ahead”.

Well, that sounds good! A strong newsflow can be expected.

More or less quietly and secretly, it has become the undisputed “top dog” in southern British Columbia: Hooray, Ximen!

As the newly published property map illustrates, Ximen now owns a respectable portfolio with promising gold assets:

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Canada is increasingly in the focus of private and institutional gold investors. And with good reason:

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Apparantly, the gold price in Canadian dollars has discovered the turbocharger and accelerates with ever higher revs. Looking in the rear-view mirror, the previous all-time high from 2011 is getting smaller and smaller.

While physical gold demand has surged in recent months, delivery difficulties have become somehwat pervasive, and gold mines around the world have been hit hardest by the corona lockdown, it has become clear all the more quickly that indeed there might be problem, Houston: Gold is in short supply!

When one also realizes that in recent years practically no major gold discoveries were made and that the existing reserves/resources of gold mines are increasingly coming to an end, then it should come as no surprise that successful gold explorers and producers may have a golden future ahead of them:

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As such, no wonder that the deal flow in the gold market is on the rise noticeably, especially in Canada. Alone on Monday the 11th May,
5 deals were announced by Canadian-based gold companies:

• SSR Mining Inc. (TSX: SSRM) and Alacer Gold Corp. (TSX: ASR) announced a $4 billion CAD “merger of equals“ in order to “create a diversified portfolio of high-quality, long-life mines across four mining-friendly jurisdictions“.

• Gold X Mining Corp. (TSX.V: GLDX), Gran Colombia Gold Corp. (TSX: GCM), and Guyana Goldfields Inc. (TSX: GUY) proposed a merger “to createa high-growth, Latin American-focused intermediate gold producer“.

• Franco-Nevada Corp. (TSX: FNV) entered into an agreement with SolGold PLC (TSX: SOLG) to acquire a 1% net smelter royalty with reference to all minerals produced from the Alpala Copper-Gold Project in Ecuador for $100 million USD.

• Fortuna Silver Mines Inc. (TSX: FVI) announced a $60 million USD bought-deal financing with a syndicate of underwriters led by Scotiabank and BMO Capital Markets.

• Tethyan Resource Corp. (TSX.V: TETH) signed a binding agreement to be acquired by Australian-listed Adriatic Metals PLC (ASX: ADT) to become a polymetallic powerhouse in the Balkans.

Ximen‘s Success Plan: Exploration+ Production

As indicated earlier, Ximen has assembled one of the (if not the) biggest gold portfolios in southern British Columbia.

With drilling now planned at several properties, possibly resulting in a strong newsflow, Ximen not only aims to attract attention with exploration successes on several fronts but, more importantly, to emerge as a diversified, high-growth gold play in a mining-friendly jurisdiction.

On March 20, Ximen announced its 2020 work programs, including plans to put into production its 100% owned Kenville Gold Mine Project near Nelson, BC:

“Now that we have completed this part of our acquisition plan, we will move forward at Kenville as planned to start mining. As early as next week we’ll have boots on the ground, and the crew will begin refurbishing the Kenville mine portal before building the portal for the new decline. As soon as this part is finished, we can start cracking rock. The most exciting time for Ximen Mining starts right now!”

Bring it on!

More information: Rockstone Report #19 “Stock Market Crash and Gold Stocks: The X-Factor Poised to Separate the Wheat from the Chaff Now“

Technical Perspective

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Link to updated chart (15 min. delayed):

Company Details

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Ximen Mining Corp.
888 Dunsmuir Street – Suite 888
Vancouver, BC, Canada V6C 3K4
Phone: +1 604 488 3900

Shares Issued & Outstanding: 56,145,451

Click to enlarge

Canadian Symbol (TSX.V): XIM
Current Price: $0.36 CAD (05/15/2020)
Market Capitalization: $20 Million CAD

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German Symbol / WKN (Tradegate): 1XMA / A2JBKL
Current Price: €0.23 EUR (05/15/2020)
Market Capitalization: €13 Million EUR

Previous Coverage

Report #19: "Stock Market Crash and Gold Stocks: The X-Factor Poised to Separate the Wheat from the Chaff Now"

Report #18: "Shallow and deep drilling at Gold Drop produce highly promising results and findings"

Report #17: "Shallow and deep drilling at Gold Drop produce highly promising results and findings"

Report #16: "The Drill is Turning to Uncover the Stargate II Anomaly: A Large Gold Pipe?"

Report #15: "Ximen targets first gold bar pour this year from bulk sampling at Kenville"

Report #14: "All Eyes on Gold Drop and Stargate II: Deep drilling to test for a large gold deposit near Greenwood in British Columbia"

Report #13: "Ximen is pressing ahead aggressively with its goal of becoming a gold producer: Mining plan now revealed"

Report #12: "Ximen frees Kenville Gold Mine from royalty burden, making it more attractive for development"

Report #11: "The Beauty of High-Grade Gold (and Silver!): Ximen Cuts to the Chase, Expands Work Efforts on Multiple Properties in Southern British Columbia"

Report #10: “Ximen Mining: Paving the road(s) to success“

Report #9: “Ximen takes a shot at history, focuses on acquiring the Kenville Gold Mine“

Report #8: “Industry inquiries persuade Ximen‘s partner to re-assay drill core for tellurium“

Report #7: “Ximen Hires B.C. Mining Expert Dr. Mathew Ball“

Report #6: “Location is Key for Ximen‘s Treasure Mountain Project in Southern British Columbia“

Report #5: “The Unprecedented Gold-Silver-Tellurium Strikes in the Historic Greenwood Mining Camp Continue“

Report #4: “Record-Breaking Gold Hit in Southern British Columbia“

Report #3: “Strong drill results and appreciating precious metals prices may herald golden times for Ximen Mining“

Report #2: “Ximen Mining reveals striking drill core observations ahead of assays“

Report #1: “Ximen Mining: Hunting for Multi-Million Ounces in British Columbia“

Rockstone Research
Stephan Bogner (Dipl. Kfm.)
8260 Stein am Rhein, Switzerland
Phone: +41-44-5862323

Cautionary Statement: Ximen Mining Corp. may decide to advance its projects into production without first establishing mineral resources supported by an independent technical report or completing a feasibility study. A production decision without the benefit of a technical report independently establishing mineral resources or reserves and any feasibility study demonstrating economic and technical viability creates increased uncertainty and heightens economic and technical risks of failure. Historically, such projects have a much higher risk of economic or technical failure. Disclaimer: This report contains forward-looking information or forward-looking statements (collectively "forward-looking information") within the meaning of applicable securities laws. Forward-looking information is typically identified by words such as: "believe", "expect", "anticipate", "intend", "estimate", "potentially" and similar expressions, or are those, which, by their nature, refer to future events. Rockstone Research, Ximen Mining Corp. and Zimtu Capital Corp. caution investors that any forward-looking information provided herein is not a guarantee of future results or performance, and that actual results may differ materially from those in forward-looking information as a result of various factors. The reader is referred to the Ximen Mining Corp.´s and Zimtu Capital Corp.´s public filings for a more complete discussion of such risk factors and their potential effects which may be accessed through the Ximen Mining Corp.´s and Zimtu Capital Corp.´s profile on SEDAR at Please read the full disclaimer within the full research report as a PDF (here) as fundamental risks and conflicts of interest exist. The author, Stephan Bogner, holds a long position in Ximen Mining Corp., Golden Dawn Minerals Inc. and Zimtu Capital Corp. and is being paid by Zimtu Capital Corp. for the preparation, publication and distribution of this report, whereas Zimtu Capital also holds a long position in Ximen Mining Corp. Note that Ximen Mining Corp. pays Zimtu Capital Corp. to provide this report and other investor awareness services. The cover picture (amended) has been obtained and licenced from Pavel Ignatov.

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