Portfolio Update: Adding Shares of Perseus Mining (April 08, 2016)

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UPDATE 4/11/16:

I CASHED OUT OF MY POSITION IN PERSEUS MINING (PMNXF) TO PURSUE THE ARB OPPORTUNITY CURRENTLY AVAILABLE THROUGH SHARES OF AMARA MINING (CLUGF), WHICH ENTITLES SHAREHOLDERS TO ALSO OBTAIN WARRANTS OF THE “NEW” COMPANY, POST MERGER. PLEASE SEE THIS LINK FOR MORE DETAILS.

When it comes to gold mining stocks, my idea has been to get well positioned before sentiment starts to turn… So, over the last 6 months or so, I was aggressively adding to core positions in my portfolio. Again and again. For the most part, I’m done buying, but I still follow the sector closely.

These days, more and more readers, friends, family, etc. are asking me on a regular basis for top picks and buying ideas… Quite honestly, things have just been turning too fast for me to be able to process… it’s all been quite dizzying.

So, I really don’t know.

More than anything, it’s just been fascinating to watch the shares of the miners rip higher as the spot price of both gold and silver remain more or less flat and dormant. They always say that the miners lead the way, so perhaps their price actions are foreshadowing things to come in the future for the underlying metals themselves.

Time will tell.

Anyway, I used today as an opportunity to add shares of Perseus Mining (PRU.AX; PRU.TO; PMNXF). I purchased 35,000 shares of PMNXF at $0.331/share (all-in cost basis). I really like the company, and I would have to say that it’s more or less the ONLY remaining gold stock that I can find out there in the mid-tier producer category that is severely undervalued compared to the rest of its peer group.

YTD chart for: Endeavour Mining (EDV.TO), Teranga Gold (TGZ.TO) and PRU.TO.

Perseus Mining has always kind of flown under everyone’s radar, but even this relative underperformance is surprising to me.

If you would like to learn more about why I like this stock so much, I would encourage readers to check out this latest article.

Please note: As ALWAYS, I am not recommending anything to anybody. Please do your own due diligence before making any kind of investment decision.

Happy Hunting!