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Month: October 2018

Red Cloud | redcloudfs.com

Honey Badger Exploration Inc (TSXV:TUF) – Solid Ore Grade Intercepts Support the Dawn of a New Cobalt Camp in Thunder Bay

Impact: Positive

Honey Badger announced drill results that further supports our belief the Thunder Bay District is Canada’s new “Cobalt Camp”, as geology is similar to the Cobalt Camp near Cobalt, Ontario. The project is located in Thunder Bay in Northern Ontario, where the company has consolidated a significant land package in an underexplored district, which we believe is very prospective for cobalt and silver mineralization.

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First Cobalt Corp (TSXV:FCC) – Broad Zones of Mineralization Should Grow Iron Creek Resources; May Provide Design Flexibility

Impact: Mildly Positive

First Cobalt has released drill results from its Iron Creek Project in Idaho, USA, which were highlighted by broad zones of mineralization. These results should help growth the resource but may introduce the option of underground bulk mining. Recall that they recently released an inferred resource estimate that showed growth. The drilling tested a high-grade zone at the western extent of the company’s resource, which remains open along strike and at depth. All of this supports our investment thesis that First Cobalt has shifted from exploration to development, with an increased focus on its Iron Creek project.

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De Grey Mining Ltd. (ASX:DEG) – Mr. Market Misses the Point! Mineable Ounces More than Doubled with Updated Resource

Impact: Very Positive

De Grey Mining has announced a 15% increase in the overall resource but importantly has resulted in more than doubling the mineable resource at its Pilbara Gold Project in Australia. We believe the market has been underwhelmed by the 15% increase; however, we think the market is missing the key point. The fact that the minable ounces increased by 127% right before releasing an open pit pre-feasibility study is very positive news (PFS expected by year end). This news supports our investment thesis that De Grey provides exposure to a solid hard rock development play whilst having the optionality of the Pilbara conglomerate.

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RNC Minerals (TSX:RNX) -How Big Could it Be? RNC has the Balance Sheet to Find Out; Here is our Best Guess

Impact: Positive

Following the initial announcement of a 9,000oz Au discovery at RNC Minerals Beta Hunt Mine in Australia, the company expects the original discovery area to yield 30-35koz Au and has continued to extend the high-grade coarse gold structures of the “Father’s Day Vein” to a total of 540m (Figure 1). RNC is gaining a better understanding of the controls in place and as such, we believe that there is a distinct potential for the controls to repeat and extend. In this note, we examine the impact on exploration, the potential size of the deposit and ultimately the impact on RNC’s valuation.

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De Grey Mining Ltd. (ASX:DEG) – Higher-Grade Drill Results Expand Withnell to Depth; Results Open the Door to a Potential Underground Target

Impact: Positive

De Grey Mining has reported new high-grade intercepts at beneath their Withnell proposed open pit at the Pilbara Gold Project in Western Australia. Importantly, results from the recently completed 15 drill hole program suggest the open pit plan could include a potential higher-grade underground target. This could significantly increase the value of the overall deposit.

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