Erik Wetterling – 2 Junior Resource Stocks He Thinks Offer Compelling Value Propositions
Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to discuss his value investing strategy, and he reviews 2 junior resource stocks with recent news catalysts that he feels represent intriguing risk-reward setups.
We start off discussing the misnomer where most investors assume “the markets are always right;” only to see wild swings in prices and valuations over very short periods of time, to the upside and downside, with no substantive change in the company’s underlying assets. If nothing major has changed with a company, but there are wild fluctuations in pricing and company valuations and extreme changes, merely based on sudden sentiment shifts, then was the market right before or after that move?
We then have Erik outline what he likes about potential development growth and pathway to copper production with Trigon Metal (TSX.V: TM) (OTCQB: PNTZF), and the underappreciated recent gold drill results and potential exploration upside at Firefox Gold (TSXV:FFOX) (OTCQB:FFOXF).*
*In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and are also site sponsors of The Hedgeless Horseman website.
(FFOX) (FFOXF) FireFox Drills more Shallow High-Grade Gold at Mustajärvi East Target in Finland Including 13.05m at 15.04 g/t Gold and 12.44m at 14.34 g/t Gold
15 Feb 2023
Added to Firefox at half price with Magna profits. Had got Magna back to full position for 3rd time and started taking profits and raising basis against Emo losses while rebuilding Emo.
My recommendation is to keep selling good news … I will take profits and buy shares at a discount.
Lakedweller2 – Thanks for sharing your trading strategies and which companies you’re adding to and lightning up on.
Personally I’ve not done a whole lot lately, but I have added to a few PM positions in Karora, I-80, Wallbridge, Elemental, Gold Royalty Corp, Silvercrest, and a starter position back in Superior, with partial profits pulled from a portion of my JDST trade.
I also addeda bit to my Ur-Energy position today into the big pullback in shareprice due to their financing announcement.
It looks like the PMs are pulling back more in overseas trading (Gold futures down at $1829 and Silver at $21.25), so I may harvest a bit more of my JDST position gains if things stay like this into Friday’s trading session and affect the PM mining stocks negatively. Then I’d use those JDST profits to add more to existing PM positions, or possibly stake out 1-2 new positions in companies I’ve been watching from the sidelines for more of a pullback.
The US Dollar is moving higher… up to 104.43, so that is one of the headwinds currently for the PMs and commodities, with most of the metals down sharply in overseas trading as well.
It looks like the Dollar has pulled back a bit now, and the PMs have recovered a bit, compared to where they were at overnight.
Mine are still range bound and after topping the first of the year, I am in 5th week of going lower and am about mid-range of my 6-9 month range.
Looking at activity since the first of year, I have added to or took profits in Golden Lake, Snowline, i80, Fission 3.0, Surge Battery, Osisko Metals, Brixton, Magna, Southern Silver, Santacruz, Silver Tiger, Defiance, Red Pine, Lion One, Fathom Nickel, Dynasty Gold, Nine Mile, Tectonic, Copper Lake, Headwater, Eloro, Emerita, GR Silver, Infinity Stone, Walker River, Firefox, Theralase, Stillwater, Guanajuato, Fireweed, Precipitate, Metallic, Ridgeline, Dolly Varden, Nevada King.
Mostly just taking profits, moving around, selling or buying news, changing weight or just screwing around trying to save as much as possible in a straight down account. Fortunately biggest damage everyday is 1% or less.
Waiting over a year to begin an uptrend that isn’t range bound.
(Just checked my account with 2 hours to go … -.95%. No coincidence.)
Account closed the day at -.99% for the day. Give me a break.
Chart of US Federal Government Interest Expense and Tax Receipts:
The Daily Shot – Feb 14, 2023
Time to cut expenses……. like duh….. most on FED FAKE GOVT…..
anything with three letters …. needs to go…. including the CON gress…
+1 OOTB. Agreed.
Add Corporations and their lobbyists and their Central Banks and their Citizens United and their bought and paid for politicians (which includes Federal Judges that have decided they are politicians instead of Judges).
Great interview, thank you. Where one can find the previous interviews please?
Hi Christophe – All of our interviews are on the website here.
If you click on the Korelin Economics Report logo in the upper left hand corner, it takes you back to the main landing page, but I’ll just post the main link here for ease of reference.
> We have different drop down filters at the top of the page under the “KER Commentary” tab to jump right to certain sectors like Gold/Silver/Base Metals/US Equities/Energy Sector/US Dollar/Fed Policy/Cryptocurrencies/Weekend Show, and then the “Stock and Company Interviews” that have drop downs that can be further filtered.
interesting week…. smash and grab……
Nenner says…. gold going up…. (he has been wrong a couple of times,
this time might be a charm)
Options expiration day, I think. A Day when Wall Street knows what prices stocks should be for their maximum profits. I think someone said that 70% of options are only 24 hours in duration. Sounds like you only throw the dice once before expiration.
SLVR, Silver Tiger. Bought a bit this morning…
In my opinion, the PM markets are sniffing out that the Fed has lost control of controls on inflation and will cause a big recession this year out of necessity. They are trying to drive their car by looking out the rear view mirror and will crash heavily soon… don’t underestimate their blindness and apparent stupidity.
Yes, agreed Dan. We are just waiting for the eventual economic fender bender…
Gotta love the Tiger… We are having Glenn on the show later next week from SLVR.
SLVTF – I had a stink sale of 24K @ $.30 this time last month, never really expecting it to be imminently filled. Refilled my position today @ $.225 or less. More bids in lower as well
Added to KGC @ $3.77 for the 1st time since Great Bear share transfer
Marty – Interesting trade in Kinross, and I’ve been debating doing the same thing, (just in case Mark Bristow decides to eat his words and acquire it for Barrick).
The Great Bear asset is still impressive at 5 million ounces, even though Kinross overpaid for it and it was nowhere close to the 8.5-12 million ounces so many of the retail mobs expected. I believe Barrick would still like to have that in their portfolio. Also Kinross has shed it’s riskier Russian assets, and has a few other good mines and JVs that would compliment the Barrick portfolio.
Pity anyone owning BOIL, UNG etc.
Natural gas going to be free soon. Why look for alternatives.
Metals sector moving down nicely. Lots of time.
Absolutely no interest. Even with gold holding water above the magic 1800 level.
Waiting once again for an option play on the majors getting smacked AEM, NEM FNV. etc
Gotta have a pop up somewhere in here.
CDNX did not follow the price of gold and silver down, that may be an encouraging sign for the micros.
Heckla, HL, I don’t own any but good call from a couple posters.
Not sure if it’s done going down but added some Agnico today.
Trigon Metals (TM.V): Probably The Cheapest Copper Junior Around
Erik Wetterling (aka The Hedgeless Horseman) – February 15, 2023