Tales from the Covid Bunker: Day 29

End of the world Jukebox: Mike Fox from The Prospector has taken our folk-country covers vibe and run away with it... Luther Wright and the Wrongs - Comfortably Numb

Featured Image: The New Pacific Metals team at this year's VRIC in Vancouver, always fun for a catch up!

Hey! I think it might be a weekend? Some kind of bank holiday at least?

What a wonderful Thursday close it was for juniors across the board. I ended up 6% up from 15:00-23:00 (Canadian hours, translated to here!). Thanks to a tip-off from our London 'Mining Mongrel' Charles Stephenson, I snuck into Boliden and started reading up on Centamin, but I will leave those for him to tell you about!

My best performers of the day (surprisingly) were Leading Edge Materials! Coming up a jarring 27% before close. Unfortunately, they came up 27% to €0.042 and I bought in at €0.12 so... I'm not going to count that one as a win just yet...

Notable daily gain on NuLegacy (14.3%), Argonaut Gold (10.6%) and Anaconda Mining (13.2%) mean I'm only 13% down overall, since the End-Feb crash. The things I bought in the cheap have performed better than expected for now... Agnico are €7/share (19%) up for me since buy, Anaconda Mining up 18% since buy... I'm getting more comfortable with spending larger numbers now for longer term holds as well, moving away from my toddler training phase, slightly.

Now my fear. If something looks too good to be true, it's normally horse sh**. A rise of 9% across my watch list is as scary as it included a lot of the fluff and space-wasting companies too. For example 'Cape Lambert Resources' a small family outfit in Australia came up 66% on the ASX at market open with a lot of selling in the afternoon! They had no news or developments. Their website doesn't include much info on projects and I haven't met their team... But this is prime territory for pump-dump-pushers to cash in on new/naive investors.

Beware, if it looks too good to be true, it's probably horse sh**.

I'm not saying Cape Lambert are at fault at all, I'm thinking their stock was probably just hijacked at open and pushed up by somebody looking to make a few bucks. I'll do some more investigating into the company and see who they are!

Social Media Review:
I'm engaging daily now with new investors via Facebook and LinkedIn. Most people are coming into the game using colourful and design heavy trading apps (because they're essentially an entertaining strategy based computer game now, just like online poker or casinos) and pumping their family savings into oil and gas under the impression it'll have some kind of monumental life-changing recovery.

I've been arguing against this (from a moral and financial perspective) and pushing people into copper producers (or advanced developers) with gold/silver kickers. My favourite pitch to newcomers has been First Quantum who had a superb week as well. Glad to say I made a few of them 15-20% on their first brave buy and brought some new faces into the mining world.

I however, bid far too low and missed the run on First Quantum. I'm being a stingy git, I only want to buy things cheap, like a grandma in a charity shop (that’s a 'thrift store' to our North American friends). I love digging through old projects and washed up listings to find hidden gems. Believe it or not, I actually enjoy reading and learning about mining, more than I enjoy making money! I love the different technical approaches and people involved.

Of course, First Quantum aren't at all hidden, but the shopping principle still applies... I did the same (stink bidding, as Brandon from Fireweed Zinc calls it) with Boliden and bought them in a brief dip, same with Agnico, same with Barrick. I'm finding a tiny bit of patience and a simple set of automated orders can work wonders above just buying at market price.

Anyhow, go and have your weekend and all that jazz. If you can get out safely, see some trees and greenery without exposing yourself or anybody else to risk... Go and do so.

I took a long walk around Bratislava yesterday, through the parks and historic old town, to find a computer shop that was still open! I bought a new mouse (with 9 unnecesary extra 'shoot mode' buttons), 32gb of high-speed RAM and then cleaned out my fans/heat exchanges. I'm now fully kitted out to ignore you and the mining world and go deep into the new season of Call of Duty 'Warzone' for the weekend. (Oh... also if I'm ever tax audited... Let's say: I really needed this kit for video editing and 3D modelling of geochemical data...?).

Stay frosty amigos!

Spotlight Mining

Friday's Fritos:

  • Crystal Lake Mining Appoints Chief Financial Officer & Director - News Release
  • Global Energy Metals Announces Signing of Agreement to Take Accelerated Ownership Stake in the Lovelock and Treasure Box Battery Mineral Projects in Nevada - News Release
  • Kodiak Copper to fly Geophys over MPD Porphyry system - News Release


VIDEO: Here's a wonderful piece featuring Plato Gold's Anthony Cohen, discussing Rudy Wahl's career as a prospector around the world...

Posted in Tales from the Covid Bunker

Liam Hardy View posts by Liam Hardy

With a family background in African mining exploration and a degree in geology, Liam brings a mix of technical ‘on-the-ground’ ore hunting and suit-booted office experience to the team. Liam worked in Liberia with Hummingbird Resources and spent 4 years as a geochemical analyst, before focusing on streamlining communications and development in exploration businesses, through the founding of ‘Spotlight Mining’.