Klondex Mines Ltd.

Klondex Mines Ltd. is on the path to building a leading integrated gold and silver producer focused in North Central Nevada. The company is producing from its Midas mine, and operating an ongoing bulk sampling program at its Fire Creek high-grade gold project. Midas, Klondex’s newly acquired operating mine and milling facility are located ~100 miles north of Fire Creek. Klondex’s secondary focus is acquiring, exploring and developing other gold and silver properties in Nevada. Currently Klondex has three other gold exploration properties, and it reviews and considers other projects for inclusion.

Expert Comments:

Philip Ker, PI Financial (8/10/17)
"Klondex Mines Ltd.'s record quarter of production yielded >66 Koz gold equivalent. . .output and stockpiled ore which was processed during the quarter led to record production of 45,733 oz gold equivalent at Fire Creek. . .elevated production of ~14 Koz gold equivalent at Midas was a result of increased head grades of 0.36 oz/t gold equivalent during the quarter."

Heiko Ihle, Rodman & Renshaw (8/10/17)
"Klondex Mines Ltd.'s revenue in Q2/17 totaled a quarterly record of $86.8M which equates to a 74% increase year over year (YOY). . .we highlight that operating cash flows increased YOY by 95% to $30M, a further impressive achievement. The company's balance sheet also improved in Q2/17, with the ending cash balance increasing by approximately 41% to $41.5M."

Steve King, M Partners (8/10/17)
"On Aug. 7, 2017, Klondex Mines Ltd. announced that it entered into a definitive agreement to acquire all of the issued and outstanding shares of Bison Gold for cash or common shares. The total consideration payable by the company under the transaction is approximately $7.3M or CA$0.59/share. . .Bison has assets in the Rice Lake (True North mine) and Snow Lake areas of Manitoba."

Jamie Spratt, Clarus Securities (8/10/17)
"Klondex Mines Ltd.'s Q2/17 financial results were above our estimates, supported by lower companywide cash costs than modeled that benefitted from the lower costs at the Nevada assets. . .with the ramp-up of True North and Hollister progressing well, we expect a stronger H2/17 supporting the company to meet or even exceed its updated production guidance of 213–230 Koz Au eq for 2017."

Brien Lundin, Gold Newsletter (Jefferson Financial) (8/1/17)
"Klondex Mines Ltd. reported impressive Q2/17 production numbers recently. During the quarter, the company's Midas, Fire Creek and True North mines produced 66,629 oz gold equivalent; Klondex sold 69,522 oz gold equivalent during that same period."

Heiko Ihle, Rodman & Renshaw (7/31/17)
"On July 26, 2017, Klondex Mines Ltd. announced exploration results from its True North asset. . .we highlight hole 635-17-024, located within the 710- 6350 level, which intersected 14.3 g/t over a total of 12.5m. . .both zones continue to be open at depth and along strike to the east, which leaves room for further potential high-grade discoveries."

Preliminary Q2 operating results show production up 94% and sales up 107%, a record for this company's Nevada and Canadian mines, news that was noted by a trio of industry analysts.
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An updated mineral resource for Klondex's True North project that increases the Measured and Indicated resource by 32% and the Inferred by 45% caught the attention of several analysts.
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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
Tara Hassan, Analyst – Raymond James
Frank Holmes, Chairman – U.S. Global Investors
Heiko Ihle, Managing Director – H.C. Wainwright & Co., Rodman & Renshaw
Philip Ker, Mining Analyst – PI Financial
Jeff Killeen, Analyst – CIBC World Markets
Brien Lundin, Author Gold Newsletter (Jefferson Financial)
Stuart McDougall, VP Research Analyst – Jennings Capital
David Morgan, Publisher – The Morgan Report
Brian Quast, Analyst – BMO Capital Markets
Nana Sangmuah, Research Analyst, Precious Metals – Clarus Securities
Jamie Spratt, Analyst – Clarus Securities
Josh Wolfson, Precious Metals Analyst – Eight Capital

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