Klondex Mines Ltd.

Klondex Mines Ltd. has just received approval to list on the NYSE MKT exchange under the ticker KLDX, with trading beginning Oct. 7. The company is focusing on the exploration, development and production of its two high-quality gold and silver projects in the mining-friendly jurisdiction of north-central Nevada. The 1200 tpd milling facility is processing mineralized materials from the Midas mine and the Fire Creek project. Midas is fully permitted and has been in operation since 1998. Fire Creek is located ~100 miles south of Midas and is operating an ongoing bulk sampling program that began in 2013. All major infrastructure is in place at Fire Creek.

Expert Comments:

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Heiko Ihle, Rodman & Renshaw (7/13/16)
"Klondex Mines Ltd. announced 2Q16 production results. . .which represent a strong increase over 1Q16 production figures. . .The increase in tonnage, coupled with higher grades during the quarter, paved way for the firm to achieve record quarterly production. In short, we continue to believe our 145,800 gold equivalent ounce estimate for 2016 remains not only achievable but could be beaten. . .We are reiterating our Buy rating and $5.25 per share price target."

Jamie Spratt, Clarus Securities (7/13/16)
"Klondex Mines Ltd. announced Q2 operating results with companywide production of 41 koz Au Eq., ahead of our estimated 33 koz. The beat on our estimates was driven by higher throughput at both Midas and Fire Creek and higher than estimated grades at Midas. . .We maintain our positive outlook with positive catalysts expected in H2/16 including an expected increase in head grades and production, and an expected positive production decision at True North. . .We maintain our Buy rating with an increased target price of $6.50/share."

Philip Ker, PI Financial (7/13/16)
"Klondex Mines Ltd. provided its Q2/16 production results from its Fire Creek and Midas operations in Nevada which realized a quarterly record of 41,436oz Au-Eq and was a strong beat to our production estimate of ~33,400oz Au-Eq. . .Fire Creek rebounded with higher than expected gold grades. . .as a result of mine sequencing and was a 30% improvement over the previous quarter. . .the increasing run-rate is part of management’s goal of filling the underutilized Midas mill. . .we continue to remain confident that Klondex can achieve guidance with its back-end loaded year of production."

Tara Hassan, Haywood Securities (7/12/16)
Klondex Mines Ltd. released Q2/16 production and sales results, which were ahead of our expectations. . .gold-equivalent production came in 41,436 (+25%) above our expectations of 33,077 GEO, and 30,142 in Q1/16. . .the q/q increase in gold-equivalent production during Q2 was primarily due to an increase in tons mined and milled, with tons milled coming in 14% above our expectations, and 17% increase over Q1/16. Average gold head grades at Fire Creek improved from Q1 (+32%), offset in part by lower silver grades (-2%) as Klondex returned to mining higher-grade zones."

Josh Wolfson, Dundee Capital Markets (7/12/16)
"Klondex Mines Ltd. reported 2Q production of 41.4 kGEO, 8.2 kGEO (+25%) above our 33.2 kGEO estimate. Results primarily benefitted from higher Fire Creek output (higher grades, higher tons milled), and also better Midas performance (higher tons milled). . .gold grades at Fire Creek improved materially QoQ to 0.90 opt from 0.69 opt in 1Q16A, which is more in line with the mine's historical achieved results (2015A 0.95 opt Au)."

Don Blyth, Paradigm Capital (7/5/16)
"We expect further details regarding Klondex Mines Ltd.'s True North asset. . .including new resources during Q3; we anticipate an official production decision before year-end. . .operational performance from the Nevada operations is expected to show progressing improvement q/q for the remainder of 2016, and we anticipate 2016 guidance to be maintained (or improved). KDX shares are poised to regain a portion of their ~18% underperformance versus peers over past three months."

More Expert Comments

Experts Following This Company

Ralph Aldis, Portfolio Manager, Gold and Natural Resources – U.S. Global Investors
Barry Allan, Vice Chair of Mining Group, and Senior Mining Analyst – Mackie Research Capital
Don Blyth, Analyst – Paradigm Capital
Michael Curran, Managing Director, Research Analyst – Beacon Securities Ltd.
Ryan Hanley – Mackie Research Capital
Tara Hassan, Analyst – Haywood Securities
Frank Holmes, Chairman – U.S. Global Investors
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Louis James, Editor – Casey Research
Philip Ker, Mining Analyst – PI Financial
Douglass Loud, Executive Director – Axiom Capital
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Derek Macpherson, Analyst
Andrew Mikitchook, Analyst – M Partners
David Morgan, Publisher – Silver Investor
Jeffrey Mosseri, President, Director – Greystone Asset Management, LLC., Axiom Capital
Menal Patel, Analyst – National Bank Financial
Rahul Paul, Research Analyst, Metals and Mining – Canaccord Genuity
Gwen Preston, Founder Resource Maven
Carsten Ringler, Founder – Ringler Research
Jamie Spratt, Analyst – Clarus Securities
Jay Taylor, Author Gold, Energy & Tech Stocks
Josh Wolfson, VP, Senior Analyst Gold & Precious Metals – Dundee Capital Markets

The information provided above is from analysts, newsletters, the company and other contributors.

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Investing Highlights
Free Cash Flow From Operations
High Gold Grades
Low Cash Costs