Portfolio Update: Reshuffling the Deck (October 6, 2017)

by FI Fighter on October 6, 2017

in Lithium, Lithium Updates, Precious Metals, Precious Metals Updates

Hey everyone! Sorry for the delay in getting my portfolio updates out the past few weeks, but as you all know, when you’re traveling and on the road, sometimes internet connection is spotty at best… and you’re too preoccupied with playing outdoors, taking photos, and all that vacationy stuff…

Anyway, here’s the latest wheelings and dealings for you!

  • Bought 10,000 shares of Balmoral Resources (BALMF) @ $0.47/share
  • Bought 9,000 shares of Erdene Resources (ERDCF); half @ $0.567/share, half @ $0.5641/share
  • Sold 10,000 shares of Garibaldi Resources (GGI.V); half @ C$2.00/share, half @ C$2.20/share
  • Sold 9,350 shares of Ivanhoe Mines (IVPAF) @ $3.282/share
  • Sold 10,000 shares of Nevsun Resources (NSU) @ $2.16/share
  • Bought 20,000 shares of Pure Gold Mining (LRTNF) @ $0.45/share
  • Bought 185,000 shares of MOD Resources (MOD.AX) @ A$0.059/share

If I’m leaving out or forgetting something, I apologize…

In regards to Birimian Limited (BGS.AX/EEYMF), I’ve been getting lots of questions regarding that company due to the Pre-Feasibility Study (PFS) release (which was quite poor), and caused the stock to sell off big time this week… For now, I’m holding onto my shares, and I have plans to speak with management sometime next week… I think the market overreacted and if you really connect all the dots and pieces, things aren’t as bad as what the study might suggest… In other words, it’s still early days for this lithium explorer and there’s lots of room to improve the NPV/IRR/cash cost figures…

Anyway, I gotta head to bed now, but will probably have more to say next week…

Here’s where things currently stand…

Lots of changes since the last update…

 

Fight On!

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{ 3 comments… read them below or add one }

1 Catherine WithamNo Gravatar October 11, 2017 at 6:13 am

Hi Jay,

I’ve been following your posts for a few months now and I am really enjoy learning from your triumphs and (rare) disasters.

I wonder if I could please trouble you with a question? I am looking at investing (small scale – everyone has to start somewhere!) in a couple of junior cobalt mining companies. I’m interested in both early stage explorers and companies at a more advanced stage of production but I’m particularly looking at the less risky jurisdictions. I notice that First Cobalt has recently indicated it is concentrating on its Canadian interests (rather than DRC). I also seem to recall that you held this stock at one point (apologies if I’m wrong there). Could I please ask why you sold out -was there something fundamental you were concerned with? Also any thoughts on the current valuation? I’d loved to have bought in when it was much cheaper – in that is there any better value stock you could point me towards?

Many thanks and I hope you are having a great time, your road trip looks fantastic! Much more exciting than being in a wet, windy and increasingly cold UK.

Best wishes
Catherine

Reply

2 FI FighterNo Gravatar October 14, 2017 at 2:46 pm

Catherine,

Yes, I’m a big fan of “safer” jurisdictions such as Canada. Actually, I just added more shares of ECS.TO myself, which has a project in Idaho, another good location.

In regards to First Cobalt, it’s on my watchlist but I’ve never owned it. I don’t monitor that story too closely but if it develops along nicely, I would have no problem adding some shares. I went with eCobalt Solutions since it is fully permitted and very advanced stage at this point.

I also really like Ardea Resources (ARL.AX), based in Western Australia, although their project is more an optionality play since it’s low grade nickel laterite, but the cobalt resource is enormous.

Cheers!

Reply

3 CatherineNo Gravatar October 17, 2017 at 10:49 am

Thanks Jay, I very much appreciate you taking the trouble to respond. On a slightly different topic, I notice that you emphasise investing for ‘deep value’ in quite a few of your posts and I’m curious as to how you would define that? Do you have in mind, for example, a fixed percentage below a ‘x’ day/week/month moving average before you invest? Or some other, perhaps less quantifiable measure? Anyway, I really enjoy reading your posts and listening to your podcasts, I’m learning lots so many thanks, best of luck with your investments and please keep up the good work. Cheers, Catherine

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