Value Microcaps Junior Miners

[dr_airtime]

F.V Fiore Gold - my thesis

Back from vacation. In early August I bought Fiore, a small gold miner that has acheived run-rate production and is Frank Gustra-backed, but you can buy at a massive discount to insiders.

It is very illiquid so I didn't post anything at the time I was buying.

It ticks all the boxes for a producing/cash flowing little microcap miner. Here is a quote from my write up:

"Fiore is trading at low P/NAV of 0.4X (GMP), "2X cash flow in 2018" (per GMP) and ~4.5X P/E (my analysis below)"

I figured the bottom was in during August and I bought in the low $C0.40's. It's a bit lower now of course but still super illiquid. In my write-up I thought it bottomed at $C 0.35 in July and we're revisiting those lows now.

Lucky for everyone here I'm providing my DD linked from Evernote, which is my new tool for tracking core investments and ideas!

https://www.evernote.com/shard/s511/sh/a7d8def0-1361-4bfd-880d-0ecea1361761/ebac8591fdf85e3650f38e8fd027d3d0