Home » Uncategorized » Shuffle up and deal: Recent trades

BOUGHT 1500 shares of ADT.AX at $0.455

I had a small chunk of AUD sitting in my account and I liked the $0.43 – $0.50 zone as an area to top up. I personally have a $0.90 short term target on this stock. Volume has dried up completely and it’s coiling here. Positive drill results from the Brestic-Jurasevic zone would be a welcome addition, but I’m really looking for securement of the tenement north/northwest of the Rupice zone to really move the stock.

 

SOLD 30,000 shares of BAY at $0.15

Not proud of this one. Quite frankly it’s embarrassing to even write about it. I’d become increasingly frustrated with BAY as the share price has drifted lower over the past few months. I was sure we’d be trading at 40 cents+ right now with drill results around the corner.

BAY was my top pick just a few months ago. The lack of promotion and progress updates pissed me off. Then I saw the picture below from the company’s twitter, on the same day the stock dropped to 15 cents. Do these facial expressions exude excitement and confidence? Or does this look like a disgruntled group that just struck out bigly?

Bottom line is I never got a good chance to de-risk my position (which I never thought would happen), and I wasn’t comfortable letting such a big position ride on a binary outcome. I still hold 20,000 shares. If they do hit something big, this will probably turn out to be the worst trade I ever make. We shall see.

 

BOUGHT 4,000 shares of BGS.AX at $0.52 and SOLD 12,000 shares at $0.41

Lithium/cobalt sentiment is in the gutter. I came to my senses and realized an unfinanced play in Mali is always going to look extremely cheap. Some of these funds went directly into NMX, which was severely oversold. Compared to BGS, I view NMX as a much safer play (fully financed), but with similar upside. I traded the small lot of NMX for a gain and will be looking to get back in for a long term hold position on further weakness.

 

BOUGHT 35,000 shares of BTT at $0.08

BTT released encouraging news on Aug. 1, claiming intersection of “zones of quartz-sulphid mineralization and intense alteration.”

Look, I don’t claim to know if this will amount to anything substantial, but when a company with a sub $3M MC has any hint of a real discovery, I want in ASAP. There are very few types of plays working in this market, and early stage discovery is working. I’m recognizing this and participating.

 

SOLD 13,000 shares of CLA.AX at $0.135

No longer a fan of African cobalt plays. After further review of the project details, I’m bearish on the results of the upcoming scoping study (huge strip ratio, distance to port, etc.) – I think CapEx will be much higher than what most are expecting. If Cobalt spot price bounces hard off $25 support and continues up, I may take another look at some of the cobalt juniors.

 

BOUGHT 20,000 shares of HVG at $0.06

Sticking with my theme of buying pre-discovery stories. I now hold 60,000 shares of Harvest Gold. They just closed the final tranche of their financing and have $850k to start drilling in September. This is a greenfield project with high grade gold and silver from sampling. HVG CEO Rick Mark and JV Partner EVM VP of Exploration Alain Charest both have legitimate track records of creating value for investors. At a ~$3M MC, I like HVG’s chances here.

 

BOUGHT 3,000 shares of MOD.AX at $0.49

MOD is a copper play in Botswana. Check out MiningBookGuy’s video to learn more. They have a “standalone” 60Mt copper resource at their T3 project, but the real play here is the district scale potential. They have an enormous land package and hit 52m @ 1.5% Cu at one of their high priority targets, A4. They have dozens of these targets along trend, and if they hit similar grades at a few more, this could be a monster. At $100M MC, I see a lot of potential here. I’m looking to add on weakness.

 

BOUGHT 10,000 shares of MUN at $0.15

 Mundoro Capital made headlines on July 30 with news of a JV deal with Freeport-McMoRan for exploration of two of their Serbian Timok Licenses. MiningBookGuy got this story on my radar after posting a few videos on the company. The Freeport deal serves as validation for the project and I’m happy to sign up at a $10M MC and $6M EV. I will be looking to add to this position.

 

BOUGHT 2,500 shares of NMX at $0.68 and SOLD 2,500 shares at $0.75

 I saw extremely oversold conditions in both NMX and LAC and went bottom fishing for a trade. I nearly caught the bottom and sold for a 10% gain. I like both NMX and LAC quite a bit but think there will be more weakness to come. I may re-enter later for a longer term hold.