Off topic:
David Morgan Interviews James McDonald, President & CEO of Kootenay Silver
http://www.investmentpitch.com/video/0_jqyjlqt8/David-Morgan-Interviews-James-McDonald-President-CEO-of-Kootenay-Silver

(IO) (INCAF) Inca One Produces a Record 24,850 Oz of Gold in 2019

by @newsfile on 31 Jan 2020

– Total gold production for the year reached a record 24,850 ounces, up from 22,050 ounces produced in 2018, representing a 13% increase.
– Deliveries of 52,602 tonnes, up from 45,527 tonnes in 2018, an increase of 16%.
– Production increased to 52,183 tonnes of material processed in this year, up from 43,786 tonnes in 2018, an increase of 19%, averaging 143 tonnes per day throughput in 2019.
Gross sales in the calendar year in 2019 was a record US$34.9 million, up from US$26.4 million in 2018, an increase of 32% YOY.

https://www.incaone.com/news/index.php?content_id=244

FANBLOODYTASTIC…….The Shifty One Got Shafted………………HaHa….LOL
https://www.zerohedge.com/political/jerry-jerry-jerry-schiff-stunned-after-nadler-snatches-closing-remarks

Erik:
Thanks for the discussion of Irving and your extensive research that you post on your own site.

Erik: I was wondering if you can look into Meguma in Nova Scotia who just bought Goldenville and is biggest land miner in NS. They are attempting to build a Carlin type large operation? Thanks or anyone can comment I’ll check back.

Hey Fritz,

I’m not that familiar with the area or the company so I don’t dare to even comment. Might take a look later. Best regards

In an interview with HH on 17 Jan., 2020 he stated: “If a share price goes up, everything else equal, the opportunity’s worse….it goes up 20%, the risk-reward suddenly became worse…that is enough to take some money off the table…the bargain is becoming less of a bargain, so I think it’s really prudent to start shedding a bit as the opportunity decreases.” http://www.kereport.com/2020/01/17/lessons-for-investing-in-junior-stocks-never-bet-everything-on-a-singe-drill-campaign/ However, the companies he promotes seem to him to be exceptions.
As I detailed in comments on that interview, HH advocated buying Miramont and Aloro when selling, especially MONT, seemed more prudent. Both plunged soon after his buy recommendations. Similar story with GFG Resources. With strong price gains in Novo, and especially Lion One and Irving, should he not be advocating selling at least some of the one’s position?
Re TriStar Gold, HH writes in his comments “looks very cheap”. That’s debatable on the technicals. If it’s cheap, it would be interesting to get some real insight and analysis from HH as to why 2 directors sold a total of 2,700,000 shares at the “cheap” price of .23 within 2 days of each other. I had been intending to hold my position anticipating a pop after Moriarty and Horsey visit the project and do their promotions, but with HH saying it’s cheap and directors unloading large parcels, I sold out @.25.
For those who like Irving, and I agree there’s much to like except for it’s high price, I suggest a look at Southern Gold Ltd. (SAU:ASX) which has multiple gold-silver projects in South Korea (1 nearing production) and many similarities to Irving (a research report on their Website makes interesting comparisons among SAU, Irving, and Japan Gold). At only .16 it truly is dirt cheap by every measure. If I remember correctly, it was a recommendation in an interview with Brent Cooke that brought it to my attention.

oroyplata:

You seem to draw the wrong conclusions and assume things to fit your narrative…

First and most importantly, I never tell anyone what to do. I am saying what I do and why I do it. I’m not a baby sitter, so you will have to look elsewhere if you want someone to MANAGE your money. In the case of Miramont and GFG for example, I started talking about them way lower than the peak before the dusters. The concept of decreased R/R when only the price is rising, all else equal, means that it is prudent to take money off the table. Not only will your total EXPOSURE be higher, but the R/R would be lower. I don’t regret holding MONT, Aloro or GFG. I’m not outcome dependent, which is a very important concept. What I do regret is having too much exposure perhaps. Especially with Aloro. It’s irrational to compare a high risk drill play to an advanced explorer such as IRV and LIO where FACTS have CHANGED…. Thus it’s NOT all else equal. If fundamentals improve more than the price of the stock, then the opportunity is actually INCREASING even though price is heading higher. In the case of IRV and LIO, I think they are not expensive relative to the R/R BECAUSE fundamentals have been improving with every NR.

When it comes to TSG, I think it’s fairly obvious why I think it’s cheap. Why would I know why they sold? There are a thousand reasons for selling a stock and only one for buying it. With that bulk sale at sub SP, it looks like they sold to someone who wanted a lot of shares in a potentially pre-arrenged deal.

Ps. Why is it OK for you to “demand” more insights/explanations about cheapness, even though I have written articles and done podcasts explaining my thoughts already, while writing a few sentences and declaring SAu “dirt cheap”. You see the irony? Anyway, I hope you got the points I made in this post

I take your points, but IMO when technicals clearly indicate an overbought price, it’s prudent to sell at least a portion, regardless of one’s perceptions of fundamentals. You may not “tell anyone what to do”, but you certainly imply. You seem to have jumped to a completely erroneous conclusion because I definitely don’t want someone to manage my money or give me advice, but objective, informed, information is useful.
I don’t see where I demanded anything of you and I don’t perceive the irony you refer to. I expressed my opinion about SAU which anyone can confirm by doing some research on the company and looking at its chart, if they’re so inclined. I mentioned this company because it’s working in similar geological settings and in several ways is a younger, much smaller-cap version of Irving, which your talk focuses on.
To many investors/speculators/traders/analysts it’s a big red flag when insiders dump a lot of shares. Do you not think it’s a cause for concern? Are directors really likely to sell $621,000 worth of shares if they believe they’re cheap and if everything for the company looks rosy? As you seem to be connected to these managements, I thought you might have information to share about these sales.

oroyplata:

I pretty much never use TA for a buy or sell decision. Stocks can run on high RSI a long time (like LIO and IRV as of late). I have a value range that I think a company could hit in a few years and decide if the R/R is worth it at any given time. My plan/hope is to make fewer buys/sells and just ride and potentially take advantage of the volatility. For example it looks like Irving might have something incredible and if this goes the way I hope, I think the Omu project alone could be worth a few billions in a few years. That’s why I am hesitant to trade the daily or even weekly swings. If the SP would get waaay ahead of itself then the R/R and CAGR would probably decrease quite a bit and then there is a case to take money off the table and invest in others that haven’t revalued yet.

The irony I was referring too was that it sounded like you meant I just said “it’s cheap” with little basis and then you mention a company that is “dirty cheap”. I might be wrong but it looked a bit hypocritical.

On TSG: My guess is that Quinton is kind of cash short, which Moriarty stated many months ago already. I can see that TSG is least likely to revalue a lot in the short term versus for example Novo or Irving. Then we have the fact that I think he isn’t even allowed to sell shares in either of those companies ATM. If I had to chose I would raise cash in TSG over Novo and Irving at this point in time too. When it comes to the second insider, he hasn’t sold a share since June 2017 so that can mean anything. My guess is that both of them wanted to raise cash for whatever reason and found a buyer that was happy to buy their 2.7M shares at $0.225. No way that the buyer could buy that in the open market and no way that they could sell it in the open market. I expect to learn more when I visit the company but IMHO this looks like two people wanting to raise some cash and found a buyer that wanted 2.7M shares. Best regards

I wasn’t questioning your basis for concluding something is cheap, just being somewhat skeptical of the conclusion itself. It seems where we differ on this is that I place more reliance on TA (and substantial insider trades) than you do. I’m aware that with a stock that’s on a bull run, things like RSI and MFI can stay high for a long time with price well above moving averages and upper standard deviations. The stock may have re-rated to a permanently higher level and that could well be so with LIO and IRV, but I’d say that probability still remains above 50% for price reversion after such sharp increases. Sell decisions do become tricky in such circumstances. LIO’s ascent was pretty swift so I did sell my whole position, which wasn’t that large. IRV’s ascent has been slower and I have a relatively large position, so I sold a portion but retain most — something of an each-way bet. I don’t follow a rigid protocol, but with companies I’m confident in, taking some profits and remaining invested is what I’m generally most comfortable with. LIO was very slow to get moving then moved very quickly without any obvious change in fundamentals, so I figured selling out was sensible. My hope is for a price reversion to buy back in but if I’m wrong, so be it. I won’t be chasing it or any stock following such sharp price gains. Another factor is that I’m decidedly more bullish on silver than gold, so am biased toward deposits which have considerable silver. I have small positions in so many gold-dominant companies that I’m not as hesitant to shed some of them on price gains, realizing cash to put into silver-dominant companies. If LIO had substantial silver, I probably would have held onto some of it. Similarly with TSG and NVO.
I hope you’re right about IRV’s potential, and if so, I’m still in the game. If not, I’ve covered my investment. I’m out of NVO having taken substantial profits and think there are better ways to play Pilbara gold, but would probably buy back in at substantially lower prices. Unlike you, I like IRV considerably more than NVO — the silver bonus, tighter share structure, greater certainty of cheap near-term production, fewer alternatives, fewer question marks in general. NVO used to be my largest and highest-cap holding; now it’s IRV.
Your comments re the insider selling at TSG suggest that it wasn’t due to anything inherent to the company. I wasn’t aware that Hennigh was cash short and your perspective adds another dimension to insider selling: even wealthy people need to raise cash at times and will seize an opportunity when it becomes available. Even so, such substantial insider selling concerns me. Will be interesting to see what happens as I’d be keen to buy back in at lower prices if fundamentals remain strong.