Musings on Investing

Merry Christmas

Novo Resources

I want to thank all those who came to side with me at the AGM and the earlier adjournment meeting of Jubilee Gold (JUB). I did win the vote, which means that the management failed to take the company private. After that, I had a friendly conversation with the management and hope we eventually find a win-win solution.

On Investments

Novo Resources (NVO; C$2.20) has been under massive pressure because of tax-loss selling and the recent sale of Kirkland Lake Gold’s ownership. The last financing comes free-trading tomorrow, 29th December 2020, which will also be the last day of tax-loss selling. It might offer an opportunity to buy NVO at a rock-bottom price. Linked is a discussion that I had with Cory Fleck on NVO.

I expect Monarch Gold (MQR; C$0.495) to weaken over the next few days. MQR’s acquisition should close next week, triggering an arbitrage upside. I have no reason to chase it, though.

Merry Christmas and a Very Happy New Year,

Jayant Bhandari

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