Losing 7 figures+ on paper is not easy, especially when it wasn’t that long ago I thought that much capital is all I would need to live happier-ever-after. Thankfully, a series of events seem to be setting up that appear to have real potential to eliminate much of that loss if not actually end up a profitable venture in the long run.
For starters, I truly believe Gartman’s uttering of avoidance of all junior resource stocks shall actually prove to be the bottom in the most horrific bear market in juniors I’ve experienced in my 30 years in and around Wall Street. Additionally, the great gold take down of a few weeks ago may actually have backfired on the culprits who were behind it and that shall be clear to me when we’re back above $1,550.
However, the single biggest reason for putting the sharp objects back within grasp of me was watching this video presentation of Teranga Gold (Go to April 18th Teranga Gold presentation). It has been my assessment from day one ( and I believe the reason for the initial involvement back in December 2011 was a merger that some how got derailed and has faced a series of events that forestalled what I’ve perceived as the inevitable joining of both TGZ and OLE) that both TGZ and OLE are truly better as one and such a joining would lead to a major repricing of the surviving entity (I believe it should be TGZ).
I encourage you to watch TGZ’s entire presentation because for starters, I think their share price has seen its lows. However, its at the 12:35 mark that I think words are spoken that lead me to believe the light at the end of the tunnel regarding OLE is not an oncoming train but its conclusion.
Stay Tuned.