@KeyserSoze You've just got to be impressed by guys like him and Mariusz. The amount of due diligence you have to do to find this one life changing gem is astounding.
haha the titles are so terrible too.
I think 2x is a pretty fair value for the company today too, we'll need to see how things develop before a higher price can be justified. But, at this size we should slowly start to see some institutional interest develop too.
And if you think it’s outlandish to think 10x-30x check out one of their neighboring peers in the Golden Triangle in Van BC:
It also trades in the US but with very low volume: DBLVF
And just to give you a sense of how massive it’s potential is, here is the little colored 3DIP box in the south end of the Hat property. Notice the pink anomalies cutoff in all directions at the edge of the survey box? Yeah, 4 billion tons of resource ore may be just the beginning.
Oh, and if you do decide to buy, please post it all over WSB on Reddit afterwards 😂
... one sell side analyst valued a small amount of the Hat property’s potential resource tonnage using public comps per ounce of gold and arrived at $4.50 per share before applying a 90% subjective downward risk factor to result in $0.45 per share. It trades at $0.25 currently.
It could be an epic flop, so do your own DD but I believe the odds are fairly reasonable they prove a massive resource beginning with the near term press releases. I’ll take shots at 10x-30x with a 75% chance of success.
... after Hudbay wanted to renegotiate their $40 m commitment to earn up to 65% interest in the Hat property, the CEO cancelled the agreement and raised his own funds. Company has ~$5 m for a season of high impact drilling starting in March. This massive resource extends beyond the 3DIP in all direction too and is only the sourthern part of the property. Just massive. CEO claims to have been offered other JVs and $20 m in equity financing but turned down to limit dilution at low SP...
... although he comes off as a bit promotional (trying hard to get word out), the CEO is credible and was formerly on the BOD of a major gold discovery that sold to Osisko for ~$350 m several years ago.
Many incoming press releases include assay results from their H-36 deep hole to 975 meters dead center on their massive 3DIP anomalies. They have a 100% success rate drilling into their 3DIP targets so far. Also Cobalt recovery results that would add tremendous value to this Cu/Au resource...
... I believe that DBG.V can be a 10x-30x. It’s 100% owned Hat property has early exploration drilling success and 3DIP conducted and paid for by Hudbay (before it ran into cash flow issues and cut many exploration plays loose in mid 2019) suggestive of a copper, gold, cobalt & misc resource of 4+ billion tons of ore. It could be bigger than Red Chris mine nearby that recently sold for implied $1.1 billion. DBG.V’s current market cap is only $25 million. The CEO & affiliates own 30%...
Ok. I’m previewing my newest idea here first. Been working nonstop on due diligence since it came across my radar. Not fully done but imminent news could be major catalyst so you decide, can a) buy before PRs hoping for big pop which may not happen or b) be prepared to buy after PR that could significantly derisk the value dispersions.
Copper is at the confluence of EV/renewable bubble overinvestment, economic stimulus, a supply deficit and low inventories. You know I am
invested in OCO.V...
Portfolio update: Lots of movement since I last posted.
Large positions: Cash (incl. TOTL/TLT), OCO.V, SD, JOE, OET.OL
Smaller positions: CRESY, LODE, PBF, ILA.V, ATH.TO
Got lucky on switching from DK to PBF last week. I trimmed off a lot of positions over the past few weeks.
I have another mining company new position I am doing due diligence on and will announce when ready. VERY interesting.
Patriot Act 2.0 coming... We'll get more idiotic restrictions and no actual lasting change. This is disturbing.
Guys like this totally miss the point. Trumpism is just a manifestation of a much deeper problem (and libertarians don't riot lol). They are trying to chop off one head of a hydra and expanding state reach in the name of "security" just like after 9/11. It won't work unless they address the real underlying issues.
Sigh... I voted with my feet anyways.
It’s just insane that the ex-CIA director proudly proclaims on MSNBC that Biden’s Intel team is “laser focused” on spying on his political opponents with the state apparatus.
You heard it here first, folks: the CIA is coming for the worst of the worst... the libertarians!
Seeing a lot of posts on CRESY so wanted to share some good articles.
Nuveen, Alt. asset management, has a lot of great resources. And, you can also get a rough estimation what they value their land at by computing AUM/hectare.
Lots of info and data you can't find anywhere else. I pasted some good links below.
1. Why farmland now? https://www.nuveen.com/global/thinking/alternatives/why-farmland-now
2. Drivers of farmland value.
3. Nuveen 2020 farmland report.
Former hedge fund CIO/PM of $1+ billion; Margin of Safety investor; not offering investment advice.
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