May 10
20
Keeping in mind the potential conflicts of interest/biases and the fact that this is gambling/speculation (I’ve lost $1million+ in last two weeks on paper), here’s a quick assessment of my client companies:
Alderon Resources – Hope to have a report out soon.
Anooraq Resources – A new management team has done wonders in turning the company around and appears poised to become a leading PGMs producer. Looking for a much improved 2nd quarter.
Crescent Resources – The address play has failed to materialize. I’m to have a discussion with management in the near term to get a feel for their plans and will report back afterwards.
Crocodile Gold Corp – Hindsight is 20-20 but raising 2010 production estimates only to lower them back to the original target a few months later seems to have created unnecessary disappointment. All other matters outside of potential tax issues are doing quite well. See recent BNN interview
Crosshair Explorations – Continues to have good drill results but all eyes appear to be on when the Labrador moratorium will come to an end.
Donner Metals – All eyes waiting on feasibility study due out in weeks.
Evolving Gold – Compelling speculative buy at these levels. Two potential world class projects, one has drill results due out in next month and the other begins an aggressive drill program shortly. Looking for further changes in management structure.
Farallon Mining – In my biased eyes, it’s been overly done on the downside given the improving exploration and production success the company continues to enjoy.
Formation Metals – Never have questioned management’s hard work but at the end of the day the share price is what most people look at to judge success or not. Great project that took a very long time to get going but if one has waited this long, another reasonable period appears warranted.
Garibaldi Resources – No new news to comment on and like others, I await word.
Heatherdale Resources – Trying to bottom under a buck while we await next set of drill results. I believe we’re only in the 2nd inning of at least a nine inning game.
Northern Dynasty Minerals – I don’t know if Donner Metals or NDM is truly the “Rodney Dangerfield” (Can’t get no respect) of my list. World’s biggest undeveloped copper-gold project and can’t even hold a double-digit share price. Cheap, cheap, cheap, but I know people are tired of hearing me say that for years now and no one more than my friends and family – but it’s true, no matter how diluted those words have become.
Oromin Explorations – No new news but has held up quite well in the sell-off. I wait just like others for news from management.
Rodinia Minerals – Drill results are due out soon and corporate-wise things are quite well. Rare metal plays have been shaken to the bone; but with my biases known, I believe RM is more than a survivor.
Silver Quest Resources – I was eyeing my daughter’s piggy bank earlier today when thinking how I could find new funds to buy SQI at this level. All we’ve waited for is now going to begin very shortly and I remain very optimistic. Our gold resource equivalent value is much more than our market cap in my biased but humble opinion.
Spanish Mountain Gold – was finally getting some well deserved traction when the sell-off hit. Development stage companies usually lag, but let’s not lose sight of the millions of ounces here and the excellent chances of them going into production.
Strathmore Minerals – It too was gaining ground when the tidal wave of general equity selling hit. I continue to believe it’s among the best uranium plays worldwide.
Sunridge Gold – Some very significant buying of late and with the worst appearing behind us country-wise, the worst appears behind us – period
Taseko Mines – Given what has taken place corporate wise, the share price is more undervalued at today’s price than when we first put it in the model portfolio (before becoming a client). Screaming buy providing world is indeed not ending at 11.
Timmins Gold – My biggest fear (if you can call it a fear) is the company gets a takeover bid before it can really get to its true value.
