Tax-loss selling season could bring some Boxing Day specials for investors in the Canadian gold stocks on our list
SmallCapPower | November 30, 2017: Weakness in the Canadian gold stocks on our list could be approaching its end. As such, some buying opportunities could arise during December for both gold producers, developers, and explorers. These discounted gold stocks are a few of many to watch in the coming months.
Klondex Mines Ltd. (TSX:KDX) – $3.16
Klondex Mines is a Canada-based gold and silver producer with operations in the U.S. and Canada. Klondex specializes in narrow vein underground projects and currently has three producing properties. The Company’s assets include Fire Creek and Midas in Nevada, along with True North in Manitoba. The Company expects to produce between 213,000 and 230,000 gold equivalent ounces at cash costs of $675 to $700/oz this year.
- Market Cap: $568 Million
- Month over Month Return: -18%
- Year to-date Return: -49%
- 2018 P/CF: 4.0x
- Peer Average: 6.2x
Teranga Gold Corp. (TSX:TGZ) – $2.48
Teranga Gold is a Canada-based mining company with assets in Senegal, West Africa. The Company operates its flagship Sabodala Gold mine and is developing the Benfora project. TGZ is on pace to achieve the higher end of its production guidance (205,000-225,000 oz) and the lower end of its cost forecast (cash costs of US$725-$775/oz sold) this year.
- Market Cap: $266 Million
- Month over Month Return: -8%
- Year to-date Return: -40%
- 2018 P/CF: 3.1x
- Peer Average: 3.5x
Maritime Resources Corp. (TSXV:MAE) – $0.10
Maritime Resources is a PFS-stage developer advancing its 12,775 Ha Green Bay property located in Newfoundland. The Company has two main deposits called Hammerdown and Orion (effective 2013), which on a combined basis host 1.8Mt M&I mineral resource grading 7.31 g/t for 429K oz Au and 3.1Mt Inferred mineral resource grading 6.72 g/t for 661K oz Au. Both deposits are accessible via highway and logging road and have access to local supplies, labour, and power.
- Market Cap: $7 Million
- Month over Month Return: -5%
- Year to-date Return: -21%
- EV/oz gold: US$5/oz
- Peer Average: US$51/oz
Savary Gold Corp. (TSXV:SCA) – $0.05
Savary is a Canada-based explorer focused on its flagship 69.5% joint-venture Karankasso gold project in Burkina Faso. Savary recently increased its Inferred mineral resource estimate to 12.3 million tonnes grading 2.03 g/t gold for 805,000 ounces.
- Market Cap: $9 Million
- Month over Month Return: 0%
- Year to-date Return: -50%
- EV/oz gold: US$7/oz
- Peer Average: US$27/oz
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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