Some Pure Exploration Plays
I own a couple of pretty much pure exploration plays. These are the highest risk plays out there for obvious reasons. Anyway, a short run down of some that I own:
NuLegacy Gold (NUG.V)
A bunch of ex Barrick people chasing a monster deposit in the heart of the Cortez trend, Nevada. The company should soon start the deep holes targeting the “Rift-Anticline” target. It’s not cheap relative to typical exploration juniors but that is offset by the fact that there is a THEORETICAL 10-50 Moz target. If successful, such a deposit should be worth many billions given the jurisdiction and proximity to other large mines. I think there are a lot of shares that MIGHT come loose soon given that the holding period from the June financing is up soon. I participated in the placement but will not be selling any shares. I am however watching to see if there are motivated sellers that will give me a good price to top off instead. When the drill is turning I think this might see some heavy speculative buying given the nature of the target.
Inflection Resources (AUCU.CN)
Two district scale projects and then some in Australia. Huge amount of targets and 20 of said targets are being drilled right now. A bunch of ex BHP people involved and the company has already hit something in the first two of twenty targets. This is why they are bringing in a second drill rig already. High risk/high reward but diversified over 20+ targets. Only one needs to be a success.
Eskay Mining (ESK.V)
Pretty straightforward case really. Got a world class team and are exploring in the Eskay Creek camp which has not seen any real modern exploration even though there are historic hits. My sense is that the Eskay Mining team understands the geology better than any previous operation and they got loads of targets to test and have help from Tom Weis (ex Chief Geophycisist at Newmont). The company has already hit something on the first hole at Jeff/TV and they just announced that they are bringing in a second drill rig. Given that TV-/Jeff is about a 2km stretch I think there is a pretty OK chance of their first target becoming a full blown discovery.
In short: World class team, multiple semi de-risked targets and might already be on to something in the very first target.
Eloro Resources (ELO.V)
Currently drilling a fat target in Bolivia. Also got other asses
Labrador Gold (LAB.V)
Labrador’s flagship project is directly on strike from New Found Gold’s Queensway project up in Newfoundland, Canada. It’s very early stage but is also cheaper than the rest. It’s probably one of the Highest RISK/High reward plays I own.
Condor Resources (CN.V)
Huge portfolio of projects in Peru. Their flagship project looks really juicy. Downside is that permits seem to be taking some time…
(Note: This is not a buy or sell recommendation. This is not investment advice and I am not a geologist. This article is highly speculative, forward looking and I can’t guarantee accuracy. Always do your own due diligence. I own shares of all companies mentioned. Eskay Mining, Labrador Gold and Eloro Resources are passive banner sponsors of The Hedgeless Horseman. Thus, consider me biased. )
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I’ve been wondering if you ever looked at Banyan Resources and what your thoughts were on the company.
They look like a solid company with a lot of potential.
Gold close to surface
Infrastructure in place (highway, powerline, even cell phone reception)
Located between two producing gold mines that are also investors
Management has skin in the game and is very hands on.