The Good, The Bad and The Very Ugly for Sam
A journalist by the name of Sam asked (better to say reminded me) that I have been a bit short on full disclosure of late when it comes to my resource stock portfolio. He is correct in that I mention a couple of very good performers last week on the Show but neglected to fully disclose the “stinkers”. He is correct and here is my portfolio:
| Name of Company | Purchase Price | Price on 4/25/14 |
| New Zealand Energy | $1.25 | $0.275 |
| Otis Gold | $0.20 | $0.075 |
| Premium Exploration | Varied between $0.15 and $0.30 | $0.005 (pre-reverse split) |
| Canasil Resources | $0.30 | $0.09 |
| Orex Minerals | $0.25 | $0.24 |
| American Manganese | $0.30 | $0.04 |
| Formation Metals | ||
| Rugby Mining | $0.30 ? | $0.18 |
| Silvercrest Mining | $1.75 | $1.88 |
| NuLegacy Gold | $0.10 | $0.145 |
| Snipp | $0.08 | $0.145 |
| Adamera Minerals | $0.05 | $0.085 |
| Corvus Gold | $0.55 | $1.51 |
He also mentioned that Peter Grandich fully disclosed everything that he did. As a point of interest, I learned this from Peter, among other people, so anytime I did a trade that was greater than $2,500, I have disclosed it.
It is also important to note that Peter recommended buy and sell actions, and we have never done that on our program and never will.
Yes, there are a lot of stinkers above. By far the worst one was Premium Exploration. I will never make that mistake again as I took about a $40K loss on it.
I will say that I am convinced that my current holdings in this sector show future promise to me personally. This is not investment advice as I am only stating what I am personally doing.
I have complete the above on a Sunday night. If I have left some companies out, I will rectify that tomorrow.
I just realized that I left out Clifton Star Resources. My purchase price was $0.85 and it closed Friday at $0.29.
It is all a matter of time frame, Marc.
Best,
Al
GOD BLESS you all – by the way!!
And I mean EVERYBODY……
So do I Marc!!
Al, I tell you its guys like you that still give me hope for mankind. You’re a true gentlemen and a man of conviction and integrity.
You were not obligated to expose your personal stock portfolio to complete strangers but being a man of substance, goodwill and keeping to your word you put it out there to be critiqued even in the face of less than desirable results of some of the equities.
My hat is off to you Al, and much respect.
Respectfully
V
V…..Ditto.
Tony, very glad to see you drop in. You make this a much better place to hang out and spend time.
V
V…Thanks for the kind words….You made me blush…haha…With regards to the BIG FELLA , AL…I have been saying that for years the guy is a “GENT”………….
PS,,AL send the cheque to the usual place…haha……& don’t tell Jerry , ok.
to late………the news is on the street……..remember our 60/40 split….
With the current state of my portfolio, you want me to send you a check?
alms……..for the poor…………..
Many thanks Mr. Irish.
I didn’t talk at all about holdings in the conventional market or real estate. I am really not personally worried at all V and I will tell you why. The resource market, like the tide, always turns for the most part. Also, I bet on people and I do not invest in any companies where I do not trust the management. That philosophy has only hurt me badly (financially) once in the last 10 years or so.
I suppose I am lucky that I don’t hold any shares , I just have physical G&S….so only half the headache , but I know someday I will say to myself , Tony why didn’t you buy shares when they were so cheap…then I will console my self by saying , just my luck to pick the stinkers……I do hope all your boats come in un-holed. .
They all will not Mr. Irish, but I am sure that many of them will.
Hi, Al
Classy thing to do — you are a gentleman. Hopefully the good Karma will work its way around to you.
FWIW, I took small positions in New Zealand Energy, Silvercrest, Clifton Star and Rye Patch based on updates here.
Have a great week,
Eric
Al, sorry if I’m missing something but I thought you were invested in Rye Patch.
We just got hit with one of the most vicious cyclical bear markets in what will turn out to be a super-cycle bull resource market. I walked right into this vicious bear market two years ago…I am substantially down including companies like Fortuna, Endeavour and Sandstorm Gold……am I worried…yes, I would be if I used capital that was needed to feed my family…..the sector will come back in spades….the only question will you guys be patient enough to enjoy it. “You stayed through the pain, why not stay for the gain”. RICK RULE.
All the best.
Marc
Hang in there everybody…being right is never, ever easy..if it was – then everybody would do it…