- FireFox Gold
- Hit it good and actually gets rewarded even in this crappy market environment (someone actually dared to press buy!).
- Still cheap IMO.
- Grande Portage
- Nice channel sample and decent hits but gets punished with a -16% drop (!)
- Case intact and still cheap with 1.5 Moz of very high-grade gold
- Metals Creek
- Mobilizing drills to Ogden, gets slightly punished
- Around US7.5 M in Enterprise Value……..
- Trifecta Gold
- Exploration underway at Eureka Gold, slightly up
- Around US$3.5 M in Enterprise Value…….
Bear markets are easy because it’s hard to make a mistake whilst buying almost anything. The hard part is to hang on until what isn’t priced in today gets priced in. At the peak of the 2016 rally in miners I saw producers price in a much higher silver price than where silver was trading. Today I see especially gold juniors price in a gold price that is hundreds of dollars lower than where it currently is. Knowing that sentiment always oscillated and taking advantage of it is an easy but at times frustratingly boring way to make money.
Like shooting fish in a barrel right now since almost every other sector is performing and there are no buyers left. Everyone is looking for an uptick to sell and chase something else… But to the patient hunter goes the spoils…
From Howard Marks’s book – “The Most Important Thing”
Note: I own shares of all companies mentioned and they are banners sponsors. Consider me biased and always make your own due diligence. This is not investment advice.
The Hedgeless Horseman