Concordia’s Mettle In Quebec

VEIN, GZZ, AZX, EMX, AKG, IMV
Steve Roebuck at Canada’s Enforcer Gold framed the crazy downs and ups of mining stocks with the fewest words: “Markets been upside down for so long not sure what side is up.”

Steve went to geology school at university in Montreal at the same time (about 35 years ago) more or less as Golden Valley Mines’ Glenn Mullan. Both of them have interests in the Val d’Or area of Quebec and what is known as the Abitibi Greenstone Belt. They are part of what miners in northerneastern Canada call the Quebec clique.


This article is one of approximately 10 yearly that we share with a general audience. TCR/The Calandra Report costs $139 yearly; subscribers tend to be industry professionals (mining, biomedical, entrepreneurs) and those investing in mostly companies that trade publicly for less than $500 million market size.

(Aside: Steve just hired a big-gun geologist who attended the just-mentioned Concordia University in Montreal; Antoine Fournier will be running the exploration programs for Enforcer.)

Surprise: I do not yet own shares of Enforcer (VEIN ticker in Canada); this is a sub-$5 million CAD market value company with early forays into a 7,000-hectare-plus property in the Abitibi.

“There are actually about 6 of us still kickin’ around Val-D’Or and northern climates,” says Mr. Mullan, a lifelong miner and collerctor of mining royalties, most of them in Quebec. ” They include Bob Fraser (Agnico Eagle), Graham Long, Richard Roy (SEMAFO), Mark Shore (living and working in Iqualuit — all from that same vintage year (early 1980s).”

“I think we kicked McGill out of the rink that year. Due to Quebec’s declining English population, Concordia and McGill merged their Earth Science departments and consolidated others back in the 1990s, and now all geology is at “the other place.”

This short item is not all about Enforcer. Or Concordia University, whose school of geology is now at nearby McGill Univeristy. Concordia gets garlands these days for its Molson School of Business among other academic subjects.

 

​Steve Roebuck gave me that description up there of mining stocks after I noted to him the tremendous trading volume of VEIN the other day in Canada. The USA ticker is EFRGF. Enforcer Gold uses to be called Natan.

 

You called?
I know that if we examine all Canada-listed mining stocks this week, particularly Thursday and Tuesday, we’ll see swollen volumes and 20% (or greater) swings in price.

 

Some of that WTH-just-happened stems from dollar chat by the U.S. Treasury secretary.

 

Also let’s get r-e-a-l, many of the companies I follow for our The Calandra Report are tiny and subject to 5% swings on scant trading volume of their shares.

 

Oh, and there are the financings that use stock and  puncture mojo as quickly and finitely as harassment accusations. See: Golden Predator Mining, whose Yukon shares I own and we try to track for our audience.

 

The day trippers this week include Asanko Gold (whose shares I bought three times this week, Mirasol Resources and Alexandria Minerals. ​​(Also, Western Copper & Gold, which we discussed with out paying TCR Network.​)

 

Alexandria Minerals also is in the Abitibi part of Quebec and is seeking opportunities for a merger, sale or other value proposition, says a December press release.

 

I know the folks from Alexandria, including CEO Eric Owens, and yes, I own the AZX (Canada ticker) shares. There are way too many AZX shares out there, and Eric Owens says he is working on that.

 

Just getting the stock back to its now-10-cent CAD mark has taken about 16 months.

 

 

Seeking the manna I hope will be drizzled upon the valleys and plains owned by Alexandria, I also have been adding to my stake in Golden Valley Mines, which owns a large hunk of stock in Alexandria. (GZZ, Canada ticker, also owns a marjority stake, if you count Glenn Mullan’s stake, of sister-co Abitibi Royalties, RZZ.)​

 

Mirasol got a boost from a newsletter writer one day this past week. That kind of paragraph power will spread in coming months for anything that 1. looks remotely cheap in mining; and 2. has a “platform” writer broadcasting its opinions.

​I see our TCR Network on the timely side of a once-in-a-super-blue-moon rapid rise in mining valuations. That includes the prices that producers will start paying for proven ounces of gold in the ground of takeover candidates.

 

Among the very, very small-cos with reputable mining managers whom I trust (until they screw me)​ are Golden Valley Mines, Argo Gold (Judy Baker), Radisson Mining (another Quebec gold developer with a father-son team at the switches), Aztec Minerals(Brad Cooke in Vancouver, Canada, cultivating an Arizona property near where I learned to be a journalist and English teacher),  and not-so-tiny-not-so-big $60 milliom CAD market value Midland Exploration (Gino Roger in Quebec).

 

​There are others in the fields of gold. I now own Irving Resources, the Quinton Hennigh/Akiko Levinson early-stage explorer in Japan​. I own Canarc Resource, another Brad Cooke entity with a Nevada exploration project — that one, CCM Canada ticker, is definitely under accumulation, as the trading volumes and prices show.

 

​Finally, there is no finally. Still, EMX Royalty is seeing accumulation every time its Canada and USA shares change hands. This is a challenging stock to buy, and by next week I imagine the small developer of properties that EMX then sells in exchange for stock, cash and royalty payments will be back above its $1 USD mark for good.

 

Notes: I am into Asanko Gold this week because my main contact in all things Ghana sees the recent “shelf” registration that Peter Breese‘s troubled company filed as one that will allow AKG to negotiate again its approx. $150 million of debt. So, not as many investors believe — a possible equity offering, one that is rattling the cages of anyone looking at the gold producer at Nkran and Esaase in Ghana.
That is, fearing stock dilution of their (and now my) investment. Naturally, AKG could screw us on that one; I own the stock here after ​​Asanko Gold’s swarthy legal actions to plug the faucets of muddied waters. A San Francisco short-selling hedge fund benefited by publicizing its concerns about THE COST OF REPAIRING Asanko’s flooded Nkran pit(s).

 

​Let’s hope Asanko’s team and Mr. Breese, a well-paid, rough-and-tumble lifelong Africa miner, can stay on mark with approximately $900 USD cost for mining an ounce of gold. ​

 

 

Bought equity placement: ​ I think IMV’s $14 million CAD “bought” offering will allow fresh banks/funds/investors of size into Immunovaccine‘s stock before a NASDAQ offering. We’ll see — I added to our IMV/IMMVF stake today-Friday.​ Our TCR audience has the first word on all things Immunovaccine. That $14 million of new stock I believe already is taken by the several underwriters’ best clients — at $2 and with zero warrants.

Immunovaccine Uses Oil To Inject Antigens

Immunovaccine is a challenging stock to purchase if one seeks more than 10,000 shares at a time. The current offering is much the same as the most recent one about a year ago: short-form prospectus, no warrants, priced slightly higher than the current stock price. We here at home now own about 240,000 shares.

 

 

— Thom Calandra (None of these companies pays me — not a one.)
 

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Thom Calandra & TCR are researchers and investors. Research and material they offer to subscribers are meant as editorial opinion.

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