Re: copper up sharply
MNR has a September update on their Investor Presentation Slideshow (PPoint for you youngsters).
What should jump out is the minuscule non-cash valuation of the property portfolio - Without taking out my calculator it looks to be sub-$4 million USD which might as well be zero, for Annie and Lordsburg.
ETG was in a similar position in the past. But it never had a full controlling interest in a permitted mega-deposit in Nevada.
In other markets, like Vancouver real estate, bitcoin, weed stocks and other nonsensical momentum plays, there remains every indication of continuing liquidity for some retail investors, yet the 2008 debacle and mistrust of toxic Wall Street, popularized by media like the Big Short, sleazes characters like Bernie Madoff ... has turned a generation away from stock markets. Retail shuns the swing for the fences juniors because there hasn’t been a tide of cousins, workmates and neighbours causing money envy with big scores. But we are setting up for some 10x, 20x, ??x baggers in the sector if you can be the smart stock picker. Then the sheeple will pile in, too late, too little, so predictable.
You have to wonder how long extreme undervaluations can persist, when there will be a turnaround in the entire metals equity group. Trade war? China’s estimated GDP growth is still above 6% on the largest base economy ever. The old economy has never been bigger. Technical innovation for clean energy solutions continues and it all screams copper, zinc and a host of other metals like cobalt, titanium, and the exotics.
Crazy world full of crazy people. Be right sit tight. The big money is made at times like this when valuable assets are going almost no- bid at deep deep discount pricing. There are almost no buyers at a market bottom, so perverse, since it is an absence of buyers that also defines the blow-off, worn out top of a raging bull market. And that is not where we are at with the junior miners!
cg