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SGI.v/SUPGF C$.62 Superior Gold

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By Bobwins

Posted: Tuesday May 14 7:00:23AM 2019

SGI.v/SUPGF  +.06 to C$.71   Superior reports Q1 and shows decreased costs and improving grade and production.  Still lost .03 but definitely progress towards profitability.

By Bobwins

Posted: Tuesday May 7 7:29:20AM 2019

Re: Fiore Gold F.v/FIOGF  C$.26   I like the profitability and the goal of becoming a bigger producer but the near term upside doesn't appear that big.  With gold stocks down so much, I am trying to buy 100K/year producers at a cheap price and hope that gold finally does something.  Fiore has careful mgmt and they've done a good job to get to production with minimal debt and a decent share structure but a little too small for my current tastes.  That said, my current tastes haven't made me any money!  Good luck with Fiore!

By Bobwins

Posted: Tuesday May 7 7:13:08AM 2019

SGI.v  +.04 to C$.62  Superior updates reserves/resources and provides update.  Company appears focused on improving operational performance and moving forward with a good plan of attack.  Q1 may still be slightly subpar but April results sound encouraging.  Longer term, this should be a solid 100K producer at a bargain price.

By rodball

Posted: Wednesday May 1 5:26:07PM 2019

Hey Bobwins,

If you get time, give Fiore Gold (v.F) a quick look.  It's a small Nevada producer.  They should produce 40,0000 ozs + from their Pan Mine this year...Actually, closer to 45-50 k oz with the addition of a new crusher.  They have a market cap of approx. $25 mil. Canadian (currently around 0.26/share) with about $9 million in cash, and are profitable.  Pan Mine has about 8 years of reserves but they are adding additional resources greater than what they are producing.  They also have a nearby permitted property/resource with approximately 400 k oz resource as well as a couple SA properties.  Company is on a mission to be a 100-150,000 oz producer.  Anyway, like I said, give er a boo!

Have a good night!  

By Bobwins

Posted: Tuesday Apr 23 12:20:59PM 2019

Bought a small position in Superior Gold today.  Stock has been on a steep rise for the past week, rising from what looks like a bottom of C$.45 last week to today's C$.62.  A year ago, stock was in C$1.50 range so it's been a steady decline because of lack of interest in gold mining stocks AND underperformance by SGI.v.  Production has been below company forecasts, resulting in 20K produced in Q4 and 90K for the year vs 100K forecast and millions in profits.  Company says they have turned things around.  Q1 will still show a loss but production has improved a bit to 22K.  Like most mines, this operation has mostly fixed costs and so the previous decline in production has turned profits into losses.  

I bought this stock because it's dirt cheap.  100K producers should not be selling for US$45million market cap(98 million shares out XC$.62 X.75) .  

Company says they have turned things around.  Here is latest PR regarding Q4 and 2018 results.  Problems are outlined and discussed.

The main asset of Superior is the Plutonic Mine in Australia.  The mine has been in production since 1990 and has produced 5.5 million oz of gold.  Mine has been underground since 2005 and has averaged around 100K oz/yr.  Superior acquired the Plutonic mine in 2016 from Northern Star Resources.  Superior owns 100% of the Plutonic mine and 80% of the nearby Hermes open pit mine that was recently built.  Reserves at Plutonic are light at ~150K but resources bring total ounces to ~2million.  Obviously Superior needs  a lot of drilling to prove up more oz but the track record of the mine is good and conversion of resources to reserves should be fairly straight forward.  

Mgmt says they have turned things around and production recently moved to the 100K level at the end of Q1, resulting in 22K oz produced.  Assuming Q2 will be around 25K and Q3 and 4 are slightly higher, Superior should hit the 100K production mark for 2019 and become a profitable producer.  Given the low market cap, this should boost the stock by 2 or 3 times.  A rally in gold would obviously help but current prices holding should still result in a multibagger.

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