Main CMMG Junior miners plays
CORE
Bayhorse Silver
>Pros: low AISC, comfy CEO, online cult following, no debt, good jurisdiction, production any week now
>Cons: small operation, slow movers, no cash, not alot of proven silver ounces, share count is starting to get too big, "two more weeks" syndrome

Blue Lagoon Resources
>Pros: Cash flow from production to fund exploration, CEO has raised 500m$ before in prior company, big exploration potential and clear path forward, Crescat investment, good jurisdiction, cash in the bank / fully funded, low share count
>Cons: Slow progress due to permit delays and assay delays (not really their fault), not a lot of hype / visibility, long-term play as we have to wait for alot of drill holes to trickle in, Onion Property bad deal?

Impact Silver
Type: DevOps
>Pros: Established producer in legendary Mexican silver district
>Cons: Management is full of boomers, zero ambition, zero planning. High AISC due to shit management, doesnt care about shareholders. Also Mexico.
Note: Fucking boomers are spoiled by their land!

Irving Resources
>Pros - Quinton Hennigh, Eric Sprott, Newmont, no mill needed, well placed smelters, high grade in all holes drilled,
>Cons - Japan shut down because of Covid. Probably will take long to get up and running (2 years)

Silver One Resources
>Pros - they are drilling,
>Cons - flaw is the production being 2 years away,

Starcore international Mine
Type: ExpOps
>Pros: Stable cash flow from small Mexican gold mine, super cheap compared to P/E. Large exploration project that might go big.
>Cons: Bit high AISC, but tune-able (mine high grade when gold low, low grade when high)

Explanations
Re-start developer: Has an existing mine as a start, which massively reduces CAPEX and time to operation. Example: Gayhorse, Blue Lagoon
DevOps/ExpOps: Uses the income of an existing (usually small) operation to fund additional (usually big) projects. Examples: Impact Silver, Cerrado, soon Blue Lagoon, soon Braveheart

Guanajuato Silver
>Pros: Low AISC. 2 mines. Actually in production generating cash flow in 1 mine with the 2nd coming soon for 1.8m total AgEq oz per year total production. Acquired a 230m$ asset for only 20m$ from Endeavor. May be able to acquire other local silver miners if they fail, like GPL. Good CEO, Sprott investment
>Cons: Jurisdiction risk (Mexico), AISC might not prove to be as low as they thought due to inflation / energy input costs, share count starting to get too big

Nicola mining
>Pros: Only permitted mill in British Columbia to process gold and silver at 200tpd, have already commenced milling operations, invested over $30 million into the milling site since 2011 at a mcap of 24,77M CAD

>100% ownership of craigmont copper mine + over 10000 hectares are claimed, during its life span it yielded in excess of 36,750,000 tons of ore at an average grade of 1.30% Cu, containing approximately 900 million pounds of Cu extracted from both open pit and underground mining activities, mining ended due to low copper prices,
>There's an 43-101 on their historic mining waste terraces, appears to be profitable at US$2.8/lb at a cut-off grade of 0.06% copper
>100% ownership of Treasure Mountain silver mine in BC, fully permitted (over 2800 hectares), exploration completed in 2020
>They own a gravel pit giving them some revenue of 50-70k each year…
>Has a deal with Blue Lagoon Resources to mill ore.

>Cons: A lot of debt(12 mil as of their last financial report), it will take years to get their mines into operation, currently little cashflow to further develop existing properties, will likely sell their properties especially treasure mountain at higher silver prices, almost 280 million shares


Dolly Varden Silver
Type: Advanced explorer
>Pros: Huge gold and silver resource (MRE for 40 MOz + drilling since + Fury lands), just got even larger by buying ground from Fury. Big names, Sprott, well-funded. Right next to Hecla.
>Currently holds the past producing Torbit and Dolly Varden silver mines on the "Arm of Ghosts" at Alice Arm on the BC West Coast. They recently combined forces with Fury Metals Homestake Ridge Project, creating a fantastic land package suitable for wider investment potential and allowing for a broader exploration program on the site. I've been to both the Torbit and Dolly Varden sites a number of years ago, fantastic potential for silver / gold mineralization, however much of it is near surface only. Again more drilling is needed before we can really get an idea if the property has serious potential to become a mine again. Hecla Mining has a major stake in the area and in Dolly Varden Silver, as they hope to buy out the property in the future if its worth exploiting.
The property is accessible by road and by boat from the camp at Alice Arm from Kitsault on the opposite side of the arm. Infrastructure is close by in the form of hydro power and camp.
>Cons: Just drilling, no clear strategy: don't want to develop, don't want acquisition (yet)
Note: Possible takeover target by Hecla

Galleon Gold
Type: Advanced stage explorer
>Pros: Advanced gold explorer with ~1 MOz resource, established mining camp, survived the last bear market, recent MRE, new PEA incoming, many institutional investors, Sprott
>Cons: Management shilled 3-5 MOz resource but MRE gave 1 MOz (fired a director), PEA is delayed economics might suck, many years away from becoming a mine, no timeline
Note: Possible takeover by big neighbors

Interesting
Goliath Resources
Exploration play
>Pros - properties not far from Dolly Varden at Alice Arm and near Terrace BC. Both properties are VMS hosted Silver lead zinc gold. Drilling has shown extremely wide intercepts of mineralization but only basic on site assays have been returned, we wont know what they have until better assays are done.
>Cons - Goliaths primary targeted property is high elevation and has extremely difficult seasonal access by helicopter only.

Scottie Resources
Type: Exploration play
>Pros - past producing mines on property, hydro electric and road infrastructure, situated for modern mining. They will likely look for a buyout.
Their scottie gold mine project zones are all within the Golden Triangle, historically known for some of the most impressive gold discoveries in North America
>Cons - As of May 31st, 2021 they have over 3.5million in cash
Compared to August 31st, 2020 they had over 4.7million
So you might say they roughly burn through 1.2 million every 9 months

Mountain boy
Type: Early stage explorer
>Pros: Lots of ground in BC, some properties with historic bonanza grade mines, dumped heavily in last year only strong hands hold it
>Cons: Last year management shilled drill core visuals but came back EMPTY, this year's drill results were modest, some of their properties are quite remote
Note: These monkeys can't distinguish ore from rock

Kuya Silver
>Pros:Kuya Silver is expanding the Bethania silver mine in Peru for a restart planned as soon as early 2022, less than a year from now.

They successfully won approval (environmental impact assessment) last year to construct a 350 tonne-per-day plant at site, which given the historical grades should produce about 2 million ounces per year of pure silver, and 2.5 MMoz equivalent/year including the by-products.

Low costs: Before Kuya took over, this mine produced (without a plant at site) at $16.30/oz all in sustaining cost (AISC) incurring extra toll milling and trucking charges to process its ore at other Peruvian mines. With its own plant Kuya should be able to reduce the costs by at least $3-4/oz.
Kuya will be drilling in two phases at Bethania this year, and they are planning get more and more aggressive with resource development as the year goes on. We expect that by next year, Kuya’s exploration program and increase in resources could justify a second expansion of Bethania production by another 50-100%.

Beautifull detail: once the production financing is in place, future exploration could be financed with own means. Watch GoGold how explosive exploration could become, both at Bethania Peru and at Silver Kings, Ontario Canada, their new acquired asset.

Finally, with Kuya you are getting their newly acquired Silver Kings project in Ontario, Canada for free.Kuya has acquired a commanding land position with drill ready targets in a prolific silver mining camp that has produced ~600 million ounces over the past 120 years. Kuya has >1000 g/t silver intersections that will be followed up by new drilling in the next few months…so it may not be “free” for much longer.
>Cons: Peru

Gold Mountain
Type: Re-start developer
>Pros: Restarting an existing mine, very low CAPEX, exploration upside, low share count, production should've already started
>Cons: Production delays, might have to do a PP at shit price, can be fucked if toll mill goes wrong

Cerrado
Type: Re-start developer, DevOps
>Pros: Took over problematic mine (original developer fucked up chemistry), production is slowly improving. Also has an advanced development project in Brazil that they intend to fund from production.
>Cons: Brazil and Argentina are a dream-team, production is still low.

Braveheart
Type: Re-start developer, soon DevOps
>Pros: Took over bankrupt underground copper mine, with mill and everything. New MRE, high grade drills. Production should start soon, Ocean offtake agreement. Also has a huge abandoned open pit copper project that they intend to fund from cash-flow.
>Cons: Delays with permitting and development, went silent lately

> Mammoth resources:
Type: Early explorer
Pros: Got pre-drilled ground from major, near surface bulk tonnage deposit, good grades. Big investors, insiders, Sprott, good management.
Cons: Mexico

This is the first time I read these so I don't know their history, but they seem to be bigger than our usual microcaps.

> Summa Silver
Type: Developer
Pros: US based, historic bonanza mines, current bonanza drills, etc... Big names, insiders, Sprott, etc...
Cons: Priced in :/

Magna Gold
Type: Re-start producer, ExpOps
Pros: Producing gold mine, production improving, drilling, etc, good track. Silver exploration projets with nice results and historic bonanza mines, MRE coming.
Cons: Mexico, high AISC, production problems (seems improving)

Silver Hammer
Type: Early explorer
Pros: Three really nice historic property with bonanza grades
Cons: Recently pumped