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Gran Colombia Gold Corp. (TSX:GCM) – Cost Guidance Lowered; Segovia Ramping Up

Impact: Mildly Positive

Gran Colombia has released Q2/19 financial results on the back of strong operating results that were roughly inline with our forecast. Additionally, after a strong start to the year the company has decreased cost guidance for 2019. We maintain our fair value estimate of C$6.00/sh which is based on US$1,300/ oz Au and highlight that if we were to use US$1,500/oz Au our fair value would increase to over C$9.00/sh.

RNC Minerals (TSX:RNX) – Guidance is Coming; Q3 Starts Strong

Impact: Neutral

RNC has released Q2/19 financial results, which was a transformational quarter for the company. The company noted that Q3 was off to a strong start which we believe could help shore up the balance sheet. Most importantly, the company plans to release an updated mine plan/guidance in the very near-term which should provide investors some guidance on the path to profitability. With a new resource at Beta Hunt together with the processing capacity of the Higginsville Mill, we believe that RNC is well positioned to grow to a +100koz/year steady state producer as early as 2021.

RECENT transactions

C$7 million

August 2019
on financing

C$7.7 million

August 2019
on financing

C$14.3 million

August 2019
on financing

C$10 million

July 2019
on financing

C$5.5 million

July 2019
on financing

C$3.7 million

May 2019
on financing

Upcoming events

Precious Metals
Beaver Creek

September 10 - 13, 2019 | Beaver Creek Resort
Beaver Creek, CO

Precious Metals Summit offers the premier event that brings together the community
of institutional investors, sell-side representatives and corporate executives from senior precious metals companies to meet and network with some of the most prospective producers, explorers and developers from around the globe.

Denver Gold Forum

September 15 - 18, 2019 | Hyatt Regency
Denver, CO

The Denver Gold Forum (DGF) is the world’s oldest and largest gathering of precious commodity equities. Presented every year since 1989, it now showcases seven-eighths of the world’s publicly traded gold and silver companies when measured by production or reserves. The Gold Forum has germinated tens of billions of dollars worth of sector transactions since inception.

Red Cloud's
Oktoberfest Showcase

Sept 26, 2019 | Omni King Edward Hotel
Toronto, ON

Details Coming Soon


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