(Note: This is a not a complete list on all drill stories I own)

Eloro Resources is drilling with 3 (soon to be 4) rigs.

Expectations: I think the market is underestimating what the company has already hit. With that said it can get swingy but I believe potential dips will be transitory. The almost 500m long mineralized interval should be assayed within a few weeks. I am HODLing into results.

Ophir Gold could get wild once they start drilling which should be soon I think.

Expectations: Relatively low risk drill hype ramp

Idaho Champion plans to drill Champagne in July. Still a month or two until people won’t be bored any longer but the target is big and the company has attracted some heavy hitters…

Expectations: Relatively low risk drill hype ramp

Prosper Gold has seen a lot of insider buying and will be drilling soon. Chart looks good and it’s a tier 1 target.

Expectations: Relatively low risk drill hype ramp

NuLegacy is being sold because people are front running shares from PP becoming free trading I think. This could swing a lot depending on news sooner rather than later. The company has been drilling for several weeks so we are in the high risk/high reward zone.

Expectations: Wild swings, up or down.

Eskay Mining will have one of the most exciting drill campaigns in Canada and I think it’s just a month or so until drills start turning there (Three rigs in total I believe).

Expectations: Relatively low risk drill hype ramp

Cabral Gold is continuing its broad drill program in Brazil

Expectations: Stock has come down so I have no problem HODLing results since the company already has around 1.5 Moz as margin of safety.

Mayfair Gold will soon be up to 5 rigs.

Expectations: Already has 2 Moz so almost riskfree upside in my book. HODLing through results quite comfortably.

Labrador Gold will keep on drilling its 20,000m program

Expectations: Some drill hype ramp but we are in the high risk/high reward period so expect swings.

Goliath Resources should not be too far off from drill start.

Expectations: Relatively low risk drill hype ramp

Juggernaut Exploration should not be too far off from drill start.

Expectations: Relatively low risk drill hype ramp

FireFox Gold is expanding it’s drill program in light of visible gold seen in core

Expectations: Can get swingy on results but company is cheap so I’m HODLing into first results.

Lion One Metals is currently drilling with 6 rigs.

Expectations: Stock has been sooo boring that I don’t see how news can be bad enough to warrant a setback. HODLing this brownfield drilling since the company has both a resource and a PEA as backing.

Closing Thoughts

I think I will see some relatively easy >30% returns in many of the stocks above without taking assay risk. The ones that are already drilling and which we are waiting for assay results can get swingy.

Note: Not investment or trading advice. I own shares of all companies mentioned and most are banner sponsors. Assume I am biased and do your own due diligence.

Best regards,

The Hedgeless Horseman


8 thoughts on “Current View on Some Drill Stories

  1. Ryan says:

    Thanks Erik!

  2. Dann Shapiro says:

    What’s up with Irving Resources, no where either.

    1. Q says:

      Lots of pumping of Lion One and Irving and noooothing happening…agreed these are boring companies

      I hope that’s changes soon

  3. Sachs says:

    In December 2019, Lion One had it’s own assay lab onsite up and running! In 2020, they had 4 drilling rigs available. Yet their achievements seem to move at a snail’s pace even though they have been thoroughly cashed up for drilling. I can’t help but think the company is fully valued at USD $1.00 because it moves so slowly. And I don’t think we know the true backstory of this situation. Of course, there are always plausible excuses spoken by management. Like they needed 2 more drilling rigs to drill at certain angles, etc. But I can’t help but think that management is too old and not aggressive enough, especially given the certain devaluation of the currency they hold.

    Even though the Fiji monsoon season has just ended and 2 new drilling rigs are being positioned for action, I still think Lion One’s stock price needs to be discounted another 25% to compensate for the slow pace of results. Probably won’t happen unless there is a stock market liquidation event.

    1. Manuel K says:

      Patience is the key to success not speed. Time is a cunning speculator’s best friend if he uses it right. – Jesse Livermore

      Just look at the latest presentation, and the 3 year price chart, and you KNOW that the LIO stock will be at 3$ per share, when you have a little bit patience… 🙂

  4. marnix mommaerts says:

    TSG is also drilling.

  5. Matt Gill says:

    Hi Erik,
    What about White Rock Minerals (ASX:WRM; OTCQX:WRMCF) – about to hit the ground hard at its project in central Alaska – drilling high grade silver-zinc VMS (running >600g/t AgEq) and its large gold anomaly, with three drill rigs turning and fully cashed up and funded?

    1. Jasper says:

      I am not Erik mr. Gill but I’m ready to buy more shares on some very good news 😉

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