Yeah, it’s lower risk to own gold ROYALTIES than hopes that exploration and commercial production. I feel like ELYGF should be worth close to $1.50US at this time, somewhat undervalued when you juxtapose to the market caps of similar companies. Good luck!
Sprott Money for 5/29/2020
Very bullish comments by Sprott on ELY from 16:30 - 19:20
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Dear Client,
The following table summarizes recently published information regarding corporate insider purchases or sales for securities you hold in your account. This data is presented for informational purposes only and does not reflect any activity related to your account.
| Symbol | Shares Purchased | Purchase Date | Shares Sold | Sales Date | Account(s) Holding Security |
|---|---|---|---|---|---|
| MUX | 2,000,000 | 22-MAY-2020 | 0 | NA |
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Very interesting interview.
The performance of ELYGF has been shocking - up 20 cents just today. But, I do think its market cap is now in sync with comparable companies (Abitibi Royalty and Metalla). There’s the suggestion that Sprott wants to make this “his” royalty company going forward …
De Grey’s Hemi deposit keeps expanding…
Today I bought a few more shares of NEM, AG and PAAS. My strategy on stocks I’ve held for more than a year is sell a few shares, if there is a large long-term gain to be made. I think I may have stated this strategy before; i.e. trading around a core position. Someone once said you can’t go broke if you sell at a profit. After a few (actually a few too many) really stinker speculative penny stocks, I tend to keep a larger part of my portfolio in producing miners, and have favored mostly the streamers with a secure money flow for quite a while. I’ll buy smaller lots on the way down after capturing a long-term gain, as I “average up” to replenish the stocks I’ve sold, and continue buying smaller lots down on retracements, especially since Fidelity has mostly done away with trading fees on domestically traded stocks. On April 10, I posted:
HR, on April 11 you posted:
I hope you got back into DeGrey since then. Maybe I should’ve mentioned that back in July of last year, I more than doubled down and bought a bunch more De Grey at 0.06 (now up over 400%). Mostly because of all the good DD you and others have provided. Well, I didn’t sell when you did, mostly because Fidelity has a $50 trading fee on this stock. I did sell that original position today at a very nice profit, even with that $50 trading fee tossed in. Still stuck with my Artemis position, and have no idea if that will ever dig itself out the hole they’ve managed to put shareholders in; ARTTF is in the sock drawer with one other stock in my portfolio that shall remain nameless! Also, I should have taken my own advice on NAK back in April, but played it safe as it is still a very speculative play for a few years (yes, it more than doubled). I did pick up ELY back in February at 0.35, and stayed strong on Novo and Royal Nickel, mostly because of all the DD provided here by others, thank you! My average on MUX is still high at 1.76, and that’s after buying 1000 recently, but I have confidence in McEwen, as do many others here. It’s about back to where you first brought it to the forum’s attention around 0.80 a few years back. I’ll reacess before years end. I think much of today’s market action is largely due to put and call option action on stocks, not to mention a lot of rebalancing going on at the beginning of the month with the option expiratory today. Trading around a core position of winners may be one of the better strategies for today’s market, IMO.
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Never got back into DEG unfortunately. There was never a really good opportunity where I felt the risk/reward of reentry was justified (for me). In hindsight it is easy to make that call, but at the time I was so relieved to cash in just over break-even that the thought of buying back in lower wasn’t a viable option despite their positive results. Same thing happened with Kairos, though with Kairos I was truly lucky to sell near the top at .021 and .024. I moved those proceeds into Novo where I have much more knowledge and confidence in their potential.
It doesn’t look like DEG will ever pull back to a level where I feel comfortable buying back in.
Bob Moriarty: This Is The Start Of The Revolution Bob Moriarty: This Is The Start Of The Revolution | Energy and Gold Ltd. $BYN $LIO $NVO $RSLV $WGO #gold #silver
BM: " Are there any companies that you’re really excited about this summer?
Bob Moriarty: Yes. Obviously Lion One, obviously Irving. Novo is getting very close to doing a deal on that mill, and I’ve known the Novo story for 12 years, now. And the one thing Quentin Henneigh wants is to be in production, and that’s going to mark a sea change. But the Hedgeless Horseman has done an absolutely brilliant job of showing the economies with the alluvial gravels. They’re going to get the cost of production of an ounce of gold well below $100.00 an ounce. And I think they’ve got 2000 square kilometers of alluvials, and quite bluntly, I think it’s all economic.
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De Grey (now a 10-bagger since Feb) with more tremendous drill results at Hemi…
Aqila extended 80m to the east on section 30,640E with results including:
41m @ 6.8g/t Au from 181m in HERC086 inc. 14m @ 10g/t Au from 206m (Hole ends in mineralisation)
16m @ 1.6g/t Au from 144m in HERC085
Significant depth extensions including:
69.5m @ 1.3g/t Au from 80m in HERC031D
30m @ 1.7g/t Au from 125m in HERC093
Shallow high grade RC results confirming previous aircore* drilling on section 30,000E:
45m @ 8.1g/t Au from 111m in HERC096 inc. 16m @ 13.2g/t Au from 114m (10gm lower cut)
49m @ 3.4 g/t Au from 49m in HERC095 inc. 19m @ 5.1g/t Au from 50m
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OK HR - Your last 2 posts convinced me not to get too greedy here!
Taking a large part of my position off the table this morning as 580%+ profit is more than satisfying.
Also listened to this Michael Oliver interview over the weekend. There were some good interviews on this Palisade site. Just too many good speculative stocks to dip a toe in for the summer. I’ll need some time to digest so many things going on.
I still have a good position in de Grey that I’ll leave alone for the time being as I have not held these shares long-term yet, but reading through that long Bob Moriarity interview convinced me!
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I wouldn’t have been able to hold on that long (well, I sold around .13). If I hadn’t had been under for so long, I would’ve been able to hold and probably add to my position then, but the relief of getting back to just above your cost average was a welcome milestone that I couldn’t pass up.
I’ll check out that interview later. Thanks for sharing.
Also took some profits with deG.
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Novo Resources has put out three different news releases in the last 3 business days related to acquiring massive areas of the Pilbara region in Australia as if they didn’t already have massive holdings to begin with. News – NOVO Resources
In my opinion, they continue to have the largest potential of any gold miner I’ve come across. Now, if they can just start mining!
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Funny Mike, I was going to post the exact same thing!
The big news/event that shareholders are waiting on for Novo is to see if they can acquire the Nullagine Mill from Millenium Minerals LTD which went into receivership earlier this year. Novo has been negotiating for the mill at least since January, probably earlier.
https://www.miningnews.net/m-a/news/1379289/novo-in-talks-over-nullagine-mill
This mill is centrally located for Novo in the Pilbara region and will almost immediately turn them into a producer while reducing the cost to produce an ounce of gold.
With Novo gobbling up these properties in the proximity of the mill, it is fueling speculation that there is a strong likelihood that Novo has closed the deal or will do so soon.
Just awhile ago, I looked at the Novo Gold Resources price and it was 2.5 cents for the day.
Right after Rick’s post immediately above, the price is now almost 7 cents up.
Do you think we have traffic on this website that we don’t know about?
I know we have a handful of Novo followers who are MDMN shareholders. I think the price movement is just a coincidence.
Thehedgelesshorseman.com is where Novo shareholders would go for their DD. And ceo.ca has a very active and informative shareholder forum for Novo.
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Novo Gold Resources tells it’s story …
HR 1st posted about Novo in 2017, which is when/where I started building a position. Yes, still have shares in Inventus, also. HR has been early to post on many large plays here, including MUX. Still waiting to see if Inventus can rise to the same kind of potential.
Thanks Easy. In most cases I’m too early…or my view of the potential exceeds the current market’s view of the same. That leads to some long holding (and accumulation) periods. Believe me, I’d love to be late on some of these investments!
Still very bullish on Inventus’ potential, they just move so slowly. They’ve been hamstrung the last year because they are without a milling solution for their ore, so their bulk sampling program has been put on hold. Last I heard they were nearing a solution, but in the meantime they’ve been exploring Sudbury 2.0. That could be huge, but they are just scratching the surface and it concerns me that funds they raise through private placements which dilute shareholders are being directed to longer term prospects and not on opportunities for short-term production which would defer the costs of exploration and curtail any dilution.
On the positive side, the shareholders participating in the private placements are the likes of McEwen, Sprott and Osisko. Additionally, insiders had been buying shares consistently, though not so much recently. So when Inventus does sell shares to fund exploration/operations, I pretend that I’m part of the placement and I buy more shares of Inventus on the open market to maintain my rough percentage ownership.
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