Sep 11
21
There seemed to be a bad case of “Fonzie” going around the speakers at the Toronto Gold Show last week, Thankfully, I didn’t catch it during my talks nor will I here. I WAS WRONG on the belief the junior resource market could rally. It may still do so but from much lower levels than I had envisioned.
Given the underlying metal prices (taking into account their recent declines), this could be the worst I’ve seen the junior market in years, if not for all-time. There’s not only a buyers strike but an “I give up” air to this decline. If I didn’t know any better, I would think it was a going out of business sale.
While juniors have been and always should be a small part of one’s overall interest in a business where failure is the norm, it doesn’t make the widespread disenchantment any easier. While I take comfort from suggesting far more gold ownership than any other vehicle, the fact that the industry I make part of my livelihood in is getting creamed isn’t fun. Only the Contrarian in me gets me through these tough times.
Abacus Mining – Hopefully we’re nearing the end of a relative quiet period as company moves into a mine development stage.
Alderon Resources – While the overall market weakness appears not to have allowed the stock to trade up to a more appropriate level, the apparent firing on all cylinders continues to suggest a much higher shareholder value down the road.
Argus Metals – The Yukon Gold Rush never took hold as many of us anticipated and part of the reason is a terrible backlog at assay labs. AML waits like so many others while the end of exploration season there is upon us.
Cap – Ex Ventures – A hiccup with natives and a terrible overall market has slammed CEV share price. In a market that appears to be way overdone on the downside, CEV can be one of the juniors who eventually see a sharp snap back. The only question for it and others is from what level?
Crescent Resources – Awaiting an update from company.
Crosshair Exploration – News of the Labrador moratorium possibly coming to an end can’t hurt while the company continues to focus on its U.S. based assets.
Curis Resources – Weakness in copper hasn’t helped but I continue to like the developing copper play in Arizona with Curis and Excelsior leading the charge.
Donner Metals – Despite doing what most other juniors never get to – becoming a producer, DON suffers like so many others even though it has clearly separated itself from the masses.
Donnybrook Energy – Seemingly undervalued (join the crowd) and the upcoming spin out can’t hurt.
Excelsior Mining – Continues to meet or exceed all corporate goals and if we ever have a real junior resource market again, MIN can be among the upper echelon of success stories that actually translate into a much higher share price in one’s lifetime.
Formation Metals – Throwing out the baby with the bath water in what still looks like it can be a significant cobalt producer but in this market…..
Garibaldi Resources – Not much news but would it matter anyway in this market?
Heatherdale Resources – I suspect its joint-venture partner is going to find it not easy to come up with its share of funding and a new deal may be born out of this. Stay tuned.
Northcliff Resources – Little in the way of news but I hope to have an update in the not-too-distant future.
Northern Dynasty Minerals – There’s no doubt anymore that the opponents to the Pebble project are winning the battle as seemingly everybody has already viewed a local upcoming ballot vote as a win for them and somehow the project is dead from that point on. Nothing could be further from the truth but fairness and truth has not been a consideration of NDM for quite some time. Ironically, residents of Alaska would be on the hook for more than the current market value of NDM if the project was ever permanently denied but that has never been discussed by the opponents.
Despite apparently losing the publicity war, proponents who still believe in due process should use any significant negative reaction to the October 2nd vote as an opportunity to add to or make new interests in a deposit I still believe at the end of the day a major shall want to own NDM’s interest.
Oromin Explorations – This presentation says it all.
Rathdowney Resources – Drill results are due out shortly. Lots of shares crossing of late?
Ridgemont Explorations – Good initial results but promoting in this market is like throwing sand at the ocean.
Silver Quest Resources – Read this
Spanish Mountain Gold – Has done rather well in this ugly market thanks in part to a large player adding to their position (and noting their interest in a major financial publication) and a very significant board addition.
Sunridge Gold – The only Mama Mia at this point is Mama Mia what the heck happened? I wish I could point to even one corporate miscue but I can’t. Some useless bantering about lack of promotion is no excuse as there’s been plenty of volume only the weight of the overall market has made SGC one of thousands of victims in the junior resource market.
Timmins Gold – Nice to end on a happy note. New all time highs daily of late as this emerging producer is really beginning to flex its muscle.
