This Substack letter started almost by accident back in February.
I had a gold mining company I wanted to tip. It seemed as low a risk, cut and dried, “this is undervalued” opportunity as you will ever see, and I wanted people to make money from it. A mate was telling me about Substack while we munched on noodles, and it seemed like the ideal platform to publish the report.
(Humble brag: two and a bit months later we are one of the top 25 finance letters).
The premise for the company in question was this: the drill results have been good, it obviously has many ounces more gold than its been given credit for, buy it and wait for the next mineral resource estimate, which is due in the spring. An asset like this could prove one of the best undeveloped gold projects in North America and so the company was bound to be taken out.
There would be two catalysts for the stock: first, an updated resource estimate and, second, the preliminary economic assessment. In layman’s terms: one, prove how much gold you’ve got; two, prove how mine-able that gold is.
I’m delighted to say that the resource estimate, that first catalyst, was published last night. It’s a humdinger.
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