There is some daylight in the portfolio, with two of my four junior resource holdings now at profitable levels.
Western Uranium & Vanadium Corp. (WUC:CSE; WSTRF:OTCQX) closed at CA$1.62/US$1.20 on Friday leaving only Getchell Gold Corp. (GTCH:CSE; GGLDF:OTCQB) and Volt Lithium Corp. (VLT:TSV;VLTLF:US).closed at CA$0.13/US$0.096 on the week, and
Volt is still the best story of all these names in terms of proximity to cash flow, but the evolving new story at Norseman and their movement into the copper-gold-molybdenum project (Caballos) in Chile is definitely exciting.
Mind you, once Getchell gets the money to secure Fondaway, I expect it to be back on top.
If all I had done was trade the stock indices, bonds, and gold for 2023, this would be one of my best years since the 1990's. 2020 was a superb year as well, based upon my correctly identifying the bottoms in gold in March and oil in April, which resulted in some pretty nice results.
I am sitting on a pile of cash (US$111,450) which is earmarked for the Getchell unit.
This move in gold looks terrific, but with the RSI for the GLD:NYSE at 73.28 and with the March $180 calls up 58.46% in a week, I am probably going to be lightening the position by mid-next- week.
Stay tuned. . .
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- Norseman Silver Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
- As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Norseman Silver Ltd., Getchell Gold Corp., Volt Lithium, Western Uranium and Vanadium Corp., and Norseman Silver.
- Michael Ballanger: I, or members of my immediate household or family, own securities of: All. I determined which companies would be included in this article based on my research and understanding of the sector.
- Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
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Michael Ballanger Disclosures
This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.