The junior gold stocks on our list have returned 33% on average, significantly outperforming their peers month over month
SmallCapPower | November 29, 2017: In general, the stock price performances of US/CAN gold developers have been non-existent over the past 30 days. Within a sample size of 91 Canadian and American companies, the average and median return has been ~0% and (~1%), respectively. However, the four junior gold stocks on our list today have significantly outperformed their peers, returning a total average return of 33% over the same period. Alto Ventures has led the way, up 75% month over month.
Alto Ventures Ltd. (TSXV:ATV) – $0.11
Alto Ventures is a gold explorer advancing its Oxford Lake project in Manitoba and its Destiny project located 100km NE of Val d’Or, Quebec. Destiny hosts 10.8Mt Indicated grading 1.05 g/t Au for 365K oz Au and 8.3Mt Inferred grading 0.92 g/t Au for 248K oz. To-date, Alto and previous operators have spent $7M on the project. The Company is currently investigating the possibilities of a high-grade underground resource potential. Alto also has a third project called Miner Lake in Ontario. The Company is currently seeking a JV partner for its Destiny project.
West Red Lake Gold Mines Inc. (CSE:RLG) – $0.13
West Red Lake is an exploration company focused on the Red Lake district in Ontario, Canada – one of the world’s most prolific gold districts. The Company has three assets: the Mount Jamie Mine, Rowan Mine, and the Red Summit Mine, which comprise the West Red Lake Project. The Rowan Mine is West Red Lake Gold’s primary point of focus in the short-medium term, with Goldcorp as a funding partner. The Company has a high-grade Inferred Resource at the Rowan Mine, with ongoing drilling programs planned through 2016-2017.
- Market Cap: $13 Million
- Month over Month Return: 9%
- EV/oz gold (attributable): US$17/oz
- Peer Average: US$50/oz
Bonterra Resources Inc. (TSXV:BTR) – $0.57
Bonterra Resources is a Canada-based exploration company with operations in Ontario and Quebec. The Company’s Gladiator Project comprises 10,541 hectares of the Urban Barry Greenstone Belt within the Abitibi Sub province, close to Osisko Mining’s Windfall project. The project is located 170 kilometers northeast of Val-d’Or, Quebec. The stock has responded well to two sets of results released from the Gladiator mid-November. The Company plans to continue drilling at the property to update the resource to a current NI 43-101 Compliant Resource.
QMX Gold Corp. (TSXV:QMX) – $0.30
QMX Gold is an explorer advancing its properties in the Val d’Or region in Quebec. QMX is currently drilling on the Bonnefond South Plug and is reviewing recent discoveries on the Southwestern and Beacon zones. The Company also owns the Aurbel gold mill.
Ubika Research/SmallCapPower has received compensation from Alto Ventures Ltd. and West Red Lake Gold Mines to provide analyst research coverage. For full disclosure please visit here >>
Disclosure: Neither the author nor any of the principals at SmallCapPower, or their family members, own units in any of the companies mentioned above.
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