To say the mining share and junior resource market has been brutal is an understatement. And to call its bottom has been like Gaddafi and his line in the sand ploy with President Reagan. But at the risk of a Gaddafi-like ending, there actually appears to be a light at the end of the tunnel.
Part of the guarded optimism is not only how many have lifted off their lows but how deadly quiet they were the lower you went down the food chain Friday despite the take down in the gold price. Many of them didn’t trade for minutes or even hours, when just a couple of weeks ago sellers were doing their thing minute after minute. The selling has dried up but if gold doesn’t bounce and instead heads lower, I will need to find a better hiding place than Gaddafi did.
Alderon Iron Ore – The lull between exploration to development through to production, plus iron ore prices trying to find higher ground, has made this more a lack of interest at the moment than anything more cynical.
Big North Graphite – As this initial write-ups noted, it’s a long shot but I can tell you the CEO Spiro Kletas has not only been working hard, but he passed my first “acid test”; he hasn’t once tried to sizzle me or implore me to try and get buying into the stock (You be surprise how many still try these foolish 1980s tactics).
Donner Metals – Sleepless nights and restless days were common in recent months with most companies but not when it came to DON. They have done what most never end up doing; they actually became a significant producer. If not for the worse junior resource market in my career, I truly believe the share price would more accurately reflect the great success Don has become. Here’s to better days ahead. Good article.
Excelsior Mining – Management informs me they are working on a number of fronts and hope to be able to discuss things in the not-too-distant future.
Geologix Explorations – I’ve been buying shares of late as like so many others, the market cap has become ridiculous. It’s an advanced project that could find ways other than straight equity to help move forward.
Oromin Explorations – While we await Oromin’s management response, it was interesting to read this press release from Minerals Deposits LTD, the largest shareholder of Teranga Gold.
I received some grief from a couple of people who claimed to be TGZ shareholders when I suggested their exploration results left much to be desired and one of the main reasons I felt TGZ had to come after OLE. Well apparently TGZ’s largest shareholder feels the same as noted in their release last Friday.
Make sure you read the release because it adds some serious drama to the pot. I’m highly biased, but I think this only adds to the need of TGZ to acquire OLE. Stay tuned.
Precipitate Gold Corp – Awaiting further news. Patience seems appropriate.
Prima Fluorspar Corp – I’m awaiting data from company before initial write-up.
Sunridge Gold – Not much has changed since last write-up. Another in a series of advanced –stage juniors whose market cap is extremely paltry to their NAV.
Timmins Gold – Gets a very strong endorsement here!