Friday: copper's price, and with it copper miners and explorers' shares, rebounded somewhat FRIDAY. Or shall we say, stabilized? See: copper futures contract.
I am (or was) seeing our net worth here at home go on a diet this week. What with our largest nat-resources holding, Ivanhoe Mines (copper in Africa) losing about 15% since Monday. See also COPPER futures contract now at $3.69 A POUND, down 3.7% for the day (Thursday).
I am sure to get some Why Copper? queries at OUR ECONOMIC WELLNESS workshop for newbies and not-so-econ-newbies next week (above). The free workshop is for locals who might find the shifting econ landscape these days to resemble an earthquake to their livelihoods.
Live (No Virtual): 1 p.m. May 16 — Tiburon California
You TCRs likely will find little in a workshop of this sort that catches you flat-footed. But hey, ordinary folks, even those with a half-million in the bank in this part of California, or a million bucks into their home, are baffled by metals, by inverted yield curves, by the dense terminology of the investing biz.
At any rate, copper — you need it to build everything. China needs it; India needs it; the USA needs it. Arizona has plenty of it; so do Ivanhoe’s DRC CONGO mines.
Thus, the falling IVN IVPAF price is a perk to my investing principle of buying when metals equities drop. I bought more Ivanhoe Wednesday and for now, with the 5% additional drop today, overpaid. Or did I?
IVPAF (the U.S. traded Ivanhoe version) went as low as $7.95 USD a couple of hours ago (that was Thursday). I just bought more yet again at $8.11.
This week through just now -- some sales and purchases here at home:
— Sold my Goldshore Resources GSHR at a profit; waiting now for CEO Brett Richards to start taking some of his 6 million Moss inferred ounces in Ontario and upgrading them into a measured and-or indicated reserve.
— Sold more Xtra-Gold Resources XTG XTGRF at a profit and now own 70,000 shares as of today-Friday. I will be getting an update from founder and CEO James Longshore on Monday. TCRs welcome to join; ping me. I have been to the Ghana projects at Xtra-Gold’s Kibi Gold Belt concessions 5 times over 13 years.
— Sold a sliver of my Osino Resources (Namibia) OSI OSIIF at a profit.
— Sold my Group Eleven Resources ZNG GRLVF at break-even as I look to examine the price prospects for the metal zinc, of which Ireland’s Group Eleven seeks and is developing parcels. Still the lowest-priced zinc explorer I know of.
— Bought more Ivanhoe Mines; more Platinum Aberdeen Trust PPLT (Ivanhoe has that also, by the way, at Platreef in South Africa); bought more West Vault Mining WVM WVMDF and looking to drop into the intentionally boring Hasbrouck shovel-ready holding in Tonopah, Nevada; bought more Val-d’Or Mining VZZ VDOMF — not easy to purchase — obscure, tiny market value representing a couple dozen concessions in Québec and Ontario.
Orford Mining ORM ORMFF says it will raise approx. $6 million CAD, some in flow-through, all for its various exploration in Québec: gold, nickel, lithium. Alamos Gold AGI will participate in the financing to maintain its pro-rata holding of approximately 26.18% of Orford. I shed some Orford Mining shares (4 year stake) at a loss after the financing news came out; I now own 90,000 shares. I have been to the upper Québec projects at Qiqavik and West Raglan. I also am a multi-year shareholder of Alamos AGI.
Way out on the spec-curve, added to the LODE Comstock Inc. This is an adolescent buffalo stock that has caught a flicker this month of May. See Comstock-Nevada note of earlier this week please — in this link.
Finally, malfunctioning IMV shares trading now as IMVIQ — on my U.S. screen anyway. All of the trades thus far this week have been between 2 cents USD and 19 cents USD, approximately.
Thom Calandra is a writer and an investor. Research and material are meant as editorial opinion. He is not a professional investment adviser. Please do not consider his reporting as a recommendation to buy or sell securities.