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Sandspring Resources Ltd. Gold-Kupfer-Proje.



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3 1.  Sandspring Resources Ltd. Gold-Kupfer-Projekt. 26246 Postings, 4540 Tage brunneta 29.01.11 09:54
 
Sandspring Resources Limited gab heute bekannt, dass man einem Direktor 125.000 Aktienoptionen für den Kauf von Stammaktien des Unternehmens gewährt hat. Diese Aktienoptionen sind zu 3,10 $ je Aktie ausübbar und enden am 24. Januar 2016.

Sandspring ist ein Juniorunternehmen, das das Gold-Kupfer-Projekt Toroparu in der Republik Guyana exploriert und entwickelt.


http://www.minenportal.de/...g-Resources-Ltd.-gewaehrt-Aktienoptionen

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Keine Kauf-Empfehlung!!
Wer nicht fähig ist, selber eine Meinung zu bilden und eine Entscheidung zu treffen, darf nicht zur Börse.
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65 Postings ausgeblendet.
  67.  High-Grade Gold Results and Announces New Discover 1192 Postings, 2850 Tage KOE299 13.02.17 21:03
 
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  68.  Aktuelles Video zur Company 83 Postings, 1831 Tage wf_nirvana 18.05.17 23:28
 
https://youtu.be/sP82Jl5uXS4

Was mich an der Firma stört ist der geringe newsflow...
Habe derzeit Company angefragt für einen Conference call mit IR, kam aber bisher noch keine Antwort.

Kennt jemand den kommenden newsflow bzw. Termine  
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  69.  Sandspring Res. For Deep Value Investors In Gold 7450 Postings, 4544 Tage videomart 09.10.17 18:10
 
Jul.21.17 | About: Sandspring Resources (SSPXF)

https://seekingalpha.com/article/...sources-deep-value-investors-gold


 
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  70.  Summary 7450 Postings, 4544 Tage videomart 09.10.17 18:31
 

-Sandspring Resources is an out-of-the-money call option on gold with a $1,300 strike price and no expiration date.

-Sandspring Resources is highly undervalued offering one of the best risk-reward prospect in the entire gold universe.

-Its Toroparu gold project needs a 30% higher gold price to make it economically viable.
On Sandspring Resources


Sandspring Resources (OTCQX:SSPXF) is a $36MM market cap junior gold explorer with $3MM cash and no debt. SSPXF has a respectable insider ownership of 15%, including 12.7% ownership by Frank Giustra whose firm, the Fiore Group, has a seat on the Board of Directors. Based in the emerging western Guyana gold district, SSPXF owns 100% of the Toroparu Gold project which is the 4th largest undeveloped gold deposit in South America with 4.6MM ounces of proven + probable (“P&P”) gold equivalent.

Besides Toroparu, SSPXF continues to explore its 63K hectares concession with much success. In February 2017, the company disclosed a resource estimate at its Sona Hill deposit, and in the same time, it announced a new discovery of gold mineralization at Wynamu Hill. Including the resources at the SE Zone, SSPXF has a total gold-only resource estimate of 10.4MM ounces.

SSPXF’s assets are located in Guyana. Unlike many countries in South America, Guyana is a mining-friendly jurisdiction where gold was the top export in 2015, representing one-third of the total value exported by the country, according to the MIT. It is the only English-speaking country in South America, and it follows the British common law. Among the miners already producing gold in Guyana are Guyana Goldfields (OTCPK:GUYFF) and Troy Resources (OTCPK:TRYRF).


On Toroparu

SSPXF’s flagship project is the Toroparu gold project. To get a better appreciation of it, it is worth comparing it side by side to the Aurora gold mine (“Aurora”) from GUYFF. Aurora and Toroparu share similar characteristics as shown below:

Despite certain similarities, GUYFF is a gold producer with a market cap of $720MM (20x larger than SSPXF). By being a producer, GUYFF enjoys a premium in the enterprise value/total gold equivalent resources multiple compared to a non-producer. That premium, however, does not explain the large valuation gap between the two companies. The other reasons lie in the economics of their deposits:

   Toroparu requires almost 2x the pre-production capital expenditures of Aurora
   Its average gold grade is a one-third of Aurora
   Its recovery rate is projected to be lower during the life of the mine

Those key differences make Toroparu economically non-viable at today’s gold price (more on that in the next section). In May 2013, SSPXF reported a prefeasibility study of the Toroparu gold project (“PFS”). Based on that PFS, I created a discounted cash flow (“DCF”) model from which I analyzed the risks and the returns of the project. It is worth noting that SSPXF is expected to finalize the feasibility study of Toroparu by the end of 2017.
On the valuation of Toroparu

The DCF model (see below) uses key assumptions highlighted in the PFS like the tonnes processed, the capital expenditures, and the annual cost per tonne. I increased by 15% the latter assumption to account for lower prices of copper and higher general expenses due to inflation since 2013. The DCF also assumes an all-equity financing. Therefore, excluded from the DCF are the gold and silver streams as per the purchase agreement with Wheaton Precious Metals (WPM).

Let’s look in more details as to why at today’s gold price (i.e. $1,244), Toroparu is not economically viable. Even with an extremely low (and unreasonable) 5% discount rate, the NPV would only reach half of the pre-production CAPEX. The IRR would barely reach double digits implying that the project would not receive any external financing. And, 70% (in case SSPXF activates the streams with WPM) or 100% equity financing would be unreasonable to assume as extremely dilutive to shareholders.

The question now is at what price Toroparu would become economically viable. If we use Aurora as proxy, it seems that a gold price above $1,600 would be required at today’s market standards. The IRR would then be in the mid-20s for a relatively attractive AISC of $864. The cash on cash return, although not a standard KPI in mining, would be 4.75 which would secure the financing of the project without risking a high dilution of shareholders.

Toroparu needs at least 30% higher gold price to be financeable and economically viable. However, at $1,300 gold price, the project valuation should become more apparent and impact meaningfully the share price of SSPXF (see sensitivities below). Between $1,300 and $1,400, the project should command a stock price more than twice the current price as the NPV (10%) reaches $100MM. It is thus not surprising that when gold traded at $1,350 in July-August 2016, SSPXF shares exchanged hands at around $0.70. This also implies that investors assigned zero value to all other SSPXF resources (more on this in the next section).
Experts in the gold space forecast higher gold prices, possibly up to $1,500, by the end of 2017. I personally do not know whether gold will reach that level this year or next. But I surely believe that the secular bull market in gold has resumed in January 2016, and when the gold price breaks $1,500, SSPXF market cap should catch up with that of GUYFF today.


On the upside potentials

SSPXF has a moratorium of understanding with Guyana to develop its own power plant to support Toroparu. It would save $430MM in operating expenses for a $120MM upfront cost, according to management. This represents $0.40 per share on a fully diluted basis using a 10% discount rate. However, I would argue that those savings are easier to be captured by a senior producer like Newmont Mining (NEM) or a large intermediate producer like IAMGOLD (IAG) (both present in the region) due to the relatively high total pre-development capital requirement of $600MM.

The company continues to explore and drill its mineral concession within 10km radius of Toroparu (see the map below). Earlier this year, it disclosed a resource estimate of 178Koz gold-only indicated resource and 218Koz inferred resource at Sona Hill. This is in addition to the resource estimate of 384Koz M&I gold resource and 278Koz inferred resource at the SE zone. Using a conservative $20 and $8 per gold equivalent M&I and inferred, respectively, the valuation of these resources, in addition to those unaccounted in the DCF at Toroparu, is estimated at $86MM or $0.76 per share. Shareholders today can virtually buy those ounces for free.


On Risks

SSPXF is an out-of-the-money call option on gold with no expiration date. Its premium can be attributed to the cost of rounds of funding necessary for management to fund the company’s working capital and drilling campaigns. As a result, the risk of dilution will continue until gold trades high enough to either attract a buyer or fund one of its deposits e.g. Toroparu.

SSPXF is highly correlated to the gold price. Given its significant operating leverage, SSPXF share price should experience a fairly high volatility on the upside as well as on the downside. Although SSPXF is currently extremely undervalued, it does not mean it can’t get cheaper. In January 2016, SSPXF was trading at $0.50 per ounce of gold equivalent compared to $3 today. This underpins the risk of investing in a junior gold explorer like SSPXF.

SSPXF is a relatively illiquid stock. Its 90-day average volume is 48,083 shares, according to Fidelity. A flight to liquidity can lead to heavy losses as any large sell order may increase and move rapidly the bid-ask spread to the downside. To mitigate this investment risk, an investor may need an exit strategy and exercise patience.


Conclusion

The market has clearly not paid attention to Sandspring Resources which remains one of the most undervalued junior gold explorers in the gold universe. It has over 4MM ounces of gold in P&P (10MM ounces of gold total) and a PFS outlining outstanding economics at a not too distant gold price. Although frustrating, investors may need patience to realize their investments until this happens (6-18 months?). But as the current gold bull market is unfolding, I believe investors will be handsomely rewarded with SSPXF market cap reaching $400MM again.
 
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  71.  Super Kaufchance 1600 Postings, 4703 Tage Base 18.12.17 15:50
 
bin heute mal eingestiegen.
mit über 4Mio Unzen Gold im Boden eine super
langfristige Anlage. Dann wollen wir mal hoffen
das die Edelmetalle 2018 nach Norden laufen.
Viel Erfolg allen  
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  72.  News Sandspring / Wheaton Precious Metals 7450 Postings, 4544 Tage videomart 29.12.17 17:55
 

"Sandspring and Wheaton Precious Metals extend feasibility study due date;
Phase1 of 2017–2018 exploration program completed; Shares for debt settlement announced"

December 20, 2017 17:00 ET | Source: Sandspring Resources Ltd.
http://www.sandspringresources.com/i/pdf/nr/ssp-20171220-nr.pdf  
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  73.  SSP.V 0.24 C$ 5518 Postings, 1090 Tage Vassago 13.06.18 11:23
 

Sandspring Resources geht eine Absichtserklärung mit Gran Colombia Gold ein

https://www.minenportal.de/artikel.php?sid=39321

 
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  74.  SSP.V 0,21 C$ 5518 Postings, 1090 Tage Vassago 27.07.18 11:00
 

Gran Colombia beteiligt sich zu 15% an Sandspring Resources

http://www.sandspringresources.com/i/pdf/nr/ssp-20180726-nr.pdf

 
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  75.  SSP.V 0,265 A$ 5518 Postings, 1090 Tage Vassago 11.02.19 17:22
 

Gran Colombia erhöht seinen Anteil auf ca. 17,9%

http://www.grancolombiagold.com/...s-to-Approximately-18/default.aspx

 
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  76.  SSP und GCM 7450 Postings, 4544 Tage videomart 17.02.19 01:00
 

Zwei Looser-Aktien, die sich seit langem in meinem Depot befinden.
Mal schauen, ob ich das eingesetzte Kapital vielleicht doch wieder herausbekomme...tongue out

 
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  77.  die Aktie kann nichts dafür ... 2407 Postings, 1034 Tage BigBen 86 17.02.19 01:28
 
der Einkäufer ist dann eher der Looser ...     AG-Filter: Gold X Mining
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  78.  Das sehe ich ganz entspannt! 7450 Postings, 4544 Tage videomart 17.02.19 15:14
 

Abgerechnet wird immer erst zum Schluß... wink

 
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  79.  Das Volumen steigt auffällig 7450 Postings, 4544 Tage videomart 04.06.19 21:50
 

Über 4  Mio Shares in den letzten vier Tagen gehandelt.

Sollte der Goldpreis weiter steigen, geht es hier in Kürze stramm Richtung Norden!



N.m.M.wink

 
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  80.  Kleiner faux pas... 7450 Postings, 4544 Tage videomart 04.06.19 21:56
 

Es waren 2 Mio Shares, sorry!

Die Aussage bleibt aber die gleiche...smile

 
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  81.  Plus 16% heute! 7450 Postings, 4544 Tage videomart 18.07.19 22:23
 

​​​​​​Bei steigenden Goldpreis springen auch die Explorer wieder an!
Hoffentlich hat die Charttechnik recht, dann kann es hier noch lustig werden...smile

 
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  82.  Anonymous kauft 3,394 Mio Shares 7450 Postings, 4544 Tage videomart 06.08.19 20:31
 
zum Kurs von 0,22 CAD, heute um 15:18.
Verkäufer: Haywood Securities

Das Volumen an den anderen Börsen liegt bei knapp 1 Mio Shares, deutlich erhöht...  
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  83.  Plus 17,39% heute in Toronto 7450 Postings, 4544 Tage videomart 22.08.19 22:50
 

Volumen insgesamt  930k in Übersee!
Alles ohne News, es bleibt also spannend...wink

 
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  84.  Erneut plus 18,52% am Freitag 7450 Postings, 4544 Tage videomart 24.08.19 15:35
 
Volumen steigt weiter:
2,7 Mio gehandelte Stücke insgesamt  
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  85.  Plus 17,14 % 7450 Postings, 4544 Tage videomart 28.08.19 00:36
 
Volumen 3,1 Mio Shares     AG-Filter: Gold X Mining
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  86.  SSP.V 0,41 C$ 5518 Postings, 1090 Tage Vassago 28.08.19 12:54
 

Gran Colombia erhöht seinen Anteil auf ca. 19,5%

http://www.grancolombiagold.com/...to-Approximately-1945/default.aspx

 
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  87.  GLDX.V 2.40 C$ 5518 Postings, 1090 Tage Vassago 05.05.20 19:12
 
Sandspring Resources hat sich Ende November 2019 in Gold X Mining umbenannt.

https://goldxmining.com/overview-toroparu-gold-project/  
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  88.  GLDX.V 2.75 C$ 5518 Postings, 1090 Tage Vassago 11.05.20 14:27
 

Gran Colombia plant Zusammenschluss mit Gold X Mining und schlägt vor Guyana Goldfields ebenfalls zu übernehmen

  • Gold X Mining hat das Toruparu Goldprojekt in Guyana
  • Guyana Goldfields besitzt Aurora Goldmine in Guyana
  • allerdings hat Silvercorp Ende April Übernahme-Vereinbarung mit Guyana Goldfields abgeschlossen

"The combined entity will continue as Gran Colombia and will be managed by the current Gran Colombia executive team, with corporate headquarters remaining in Toronto. Shareholders of Gran Colombia will own ~60% of the combined company, with Guyana Goldfields and Gold X shareholders owning ~25% and ~15%, respectively, on a basic shares outstanding basis."

Man darf gespannt sein, wie es hier weiter geht...

http://www.grancolombiagold.com/...ocused-Intermediate-Gold-Producer/

 
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  89.  Deal mit Gran Colombia 83 Postings, 1831 Tage wf_nirvana 13.05.20 20:45
 
Hallo,

ich finde den Deal sehr nachteilig für GLDX  - kennt jemand kanadische Foren wo mehr kommuniziert wird. Mich würde insbesondere interessieren was Frank Guistra macht.

Ich kann nicht verstehen - warum der GLDX Aktionär hier zu stimmen soll und bin sehr enttäuscht vom Management.

Danke  
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  90.  GLDX.V 2.86C$ 5518 Postings, 1090 Tage Vassago 19.05.20 08:25
 

Silvercorp verdoppelt Angebot für Guyana Goldfields, was wird aus Gold X Mining

Falls SVM mit der Übernahme von GUY erfolgreich sein sollte, könnte Gold X Mining der "Verlierer" dieser Transaktion werden. Gran Colombia hatte bisher immer bekundet Gold X Mining nur übernehmen zu wollen, wenn parallel die Übernahme von Guyana Goldfields gelingt. Danach sieht es im Moment nicht aus, es sei denn GCM überbietet das stark verbesserte Angebot von SVM, woran ich aktuell aber nicht glaube. Und falls SVM kein Interesse an an GLDX hat, dürfte die Übernahmephantasie für GLDX kurzfristig erstmal raus sein.

https://www.kitco.com/news/2020-05-18/...in-deal-with-Silvercorp.html

 
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  91.  GLDX.V 2.50C$ (-8%) 5518 Postings, 1090 Tage Vassago 25.05.20 16:27
 

Gran Colombia löst den Deal mit Gold X auf

  • der Weg für SVM bei GUY dürfte frei sein
  • GCM hat seine Übernahmeabsichten für GUY begraben
  • was mit GLDX wird steht in den Sternen
  • sollte sich SVM nicht für GLDX interessieren, könnte der Kurs von Gold X kurz-/mittelfristig wieder unter 2C$ fallen

https://www.miningweekly.com/article/...inates-gold-x-deal-2020-05-25

 
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