Erik Wetterling – Value Proposition For Magna Mining, First Nordic Metals, and Integra Resources
Erik Wetterling, Founder and Editor of The Hedgeless Horseman website, joins us to discuss three junior resource companies with recent news out to the market; where he is attracted to the current value proposition.
We discussed how the capital markets window has been open for copper-nickel-PGM explorer, developer and near-term producer Magna Mining (TSX.V: NICU) (OTCQB: MGMNF), and gold explorer First Nordic Metals (TSX.V: FNM) (OTCQB: FNMCF). On November 4th, Magna Mining was able to just raise $21.85 Million in a private placement, and First Nordic announced Oct 30th a bought deal private placement of C$10 Million. We outline how those funds will likely be utilized to advance their respective projects and the catalysts each company has in front of them.
We wrap up discussing the news out on November 8th, with regards to the Integra Resources (TSXV: ITR) (NYSE American: ITRG) business merger with Florida Canyon Gold Inc. (TSXV: FCGV), and the trend of junior developers buying producing assets to move their pipeline of projects forward without the need to repeatedly go back to market for capital raises.
* In full disclosure, the companies mentioned by Erik in this interview, are positions held in his personal portfolio, and also may be site sponsors of The Hedgeless Horseman website at the time of this recording. Additionally, Shad holds positions in both Magna Mining and Integra Resources at the time of this recording.
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First Nordic Metals Corporate Presentation:
https://fnmetals.com/wp-content/uploads/2024/11/FNM-Deck-2024-11_9.pdf
Integra Resources Corporate Presentation:
IPT gapped down and dropped over 10% today before reversing and finishing the day down just 2%. It happened on well over 2x its average volume and left a perfect bullish hammer behind.
https://stockcharts.com/h-sc/ui?s=IPT.V&p=D&yr=1&mn=3&dy=0&id=p41254500919&a=824354573
West Red Lake took out .60 after all and is now oversold.
https://stockcharts.com/sc3/ui/?s=WRLG.V&a=1808867560&p=D&yr=1&mn=1&dy=0&id=p09799377571
I still don’t own it.
Agreed, WRLG should be much higher, but these are unstable times, if Shoe Polish Joe shows up, some people will think it is a good contrarian indicator, but it might just be the real deal, 1929! DT LOL! 🤣
Thanks for the charts! I still don’t own WRLG either!
I don’t like what I am seeing in this stock market and that includes our segment. I have been selling and going into cash. Warren Buffet is out, Nvidia keeps climbing, the Debt Clock is very close to $36 trillion. Trump is going to have to deal with layoffs, he has chainsaw Musk advising him. Enjoy yourself, I know I will. DT
Trump is only in for one term he knows America is in terrible shape and his legacy will be to try and turn things around and that will lead to a lot of pain. Trump will be remembered for what he has done not for what he didn’t do or say like Calvin Coolidge. The next four years will be momentous for Americans, and The World. Then there are all the scores to be settled, fasten your seatbelt it is guaranteed to be a TRUMP BLAST-OFF! LOL! DT
Reported by Adam Taggart that General market stocks most over valued in 100 years. That doesn’t mean algos know the difference and smash everything. That would be consistent with Mathew’s thoughts.
Update:
Dave Kranzler says Banks covering Gold/Silver shorts. Hedge funds going short.
If I remember what Craig has said: banks always win.
Money of Mine dive into the Paladin situation after a 25% drop.
https://youtu.be/yisxy4SHE2w?si=WEv5sYyZSmTbDMWz
Magna Mining Corporate Presentation:
https://staticcdn1.gowebcasting.com/documents/files/events/event_00004153_ZR5rDqBL.pdf