The most imteresting PRs yesrerday were from AMK, TUD, and TUO concerning their JV on Treaty Creek in the Golden Triangle. The first Resource Report came in with big numbers -- almost 25M oz Au along with over 130M oz Ag and 1.3 T (yes trillion) pounds of copper. The AuEq grade of 0.79 g/t Au Eq means they are going to have to define starter zones to justify the capex, but there is also still plenty of exploration upside to go along with favourable metallurgy. There is lots more work to be done, but it is hard not to see this property being sold to a larger company that wants a long life high volume mine, but do keep in mind it will probably require at least a PEA if not a feasibility study before any sale. (I still have quite a few TUO shares bought for under a quarter apiece.)
It was also interesting to meto what happened with GGI. Eric Sprott sold his stake to Easkay Mining. Eskay is only interested in one of their gold properties that is adjacent to an Eskay property, confirming that GGI's nickel deposit is essentially worthless. As I have been contending all along, it remains far too small to be turned into a mine.
I have been continuing my rotation into base and energy metals. Among the positions I have added to my pf lately you will find:
1) MIN warrants and shares for their copper mine in Arizona which is currently very undervalued IMO;
2) ALLI warrants, for the lithium salar they are developing in Argentina's lithium triangle;
3) NOVR which is a royalty comany focusing on nickel and copper;
4) averaging down on NOM, which I have nicknamed RIO Jr. because they are reopening a past-producing gold/silver/copper mine in northern Chile not far from RIO's Fenix project; and
5) KDK, for the MPD copper/gold porphyry project they are developing in the Quesnel trough in central BC near multiple producing mines. (They also have a copper prospect in Arizona and a very tight share structire.)
BTW, NIM 's share price was affected badly by a hit piece released by Crux Investor but as the lies and distortions in that piece one by one turn out to be wrong, its effect is wearing off. I took this dip in share price as a buying opportunity.
I am also looking closely at ELEC, which is a royalty comany focused on energy metals.
And two of my former PM holdings, CCCM and SVB, have been reading the same tea leaves because they have pivoted to copper, in Peru and Kazakhstan respectively.
I sold my ARIS and KRR warrants, but am maintaining a position in KRR shares.
My best performer of late has been one of my longest term holdings, AII, which is already a tungsten producer from multiple mines around the world and which will shortly be resuming production at the world's largest tungsten mine, located in South Korea.
My overall approach right now is to load up on BMs and energy metals as the economies revive, then pivot back to PMs when inflation starts to take hold later this year or next year. This is, of course, subject to change without notice.
AI
