Investing in Juniors
As a sub-group, venture companies tend to make a loss. However, isolated companies among them offer the possibility of a massive upside. So one must do one’s homework before investing in them. I recently talked with newsletter writer and investor Brian Leni about the market, speculation, risks, dos and don’ts of investing, and democracy:
Irving Resources (IRV; C$0.96) is trading significantly below what Newmont and Sumitomo recently financed IRV at—C$1.23 per share. IRV has bought two drill rigs, for which they are building their local crew. They also have a Sumitomo rig and another from their Canadian contractor. IRV is extremely illiquid. I expect good news to flow by early next year.
My friend, Claude Bejet, an astute investor, brought to my notice West Vault Mining (WVM; C$0.96), another very illiquid company, which is trading significantly below what it raised money at. They are not spending much money, hoping they will start work on their project once the market is out of bear mode. Why spend money when the shareholders do not give it any value?
In a linked conversation with Cork Fleck and Shad Marquitz, we talked about west Africa and two companies my clients and I are well invested in.
The Capitalism & Morality seminar was held last week. We will hold monthly Capitalism & Morality dinners in Vancouver starting from 21st September 2022. If joining them would interest you, please let me know.
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