I have a lot of catching up to do after getting home last night from New Orleans. This morning, I'll start the goodies with a few quick bite-sized updates:
--> Take your nice, quick profits and SELL Sarepta Therapeutics Inc. (SRPT:NASDAQ).
Simply put, I'm less confident in the near-term prospects for further gains than I was in advising we buy this anew when it gapped down, ultimately, to the mid-50s at last Tuesday's open.
Further, good Q3 news and such out last week (see NEWS HERE) added only modestly to the oversold bounce (though we'll probably get a bonus boost early this morning, as reports of insider purchases last week will see SRPT gap up some at the open.)
With my view that the broad market's rally of the last half of last week is a BIG dead cat bounce, SRPT shares won't get any upward bias from an ongoing bullish move, IMO, either. So we'll take the money and run.
--> Next, Avino Silver & Gold Mines Ltd. (ASM:TSX.V; ASM:NYSE.MKT; GV6:FSE) REMAINS a BUY.
A few asked me about the OCT 27 NEWS that Coeur Mining Inc. (CDE:NYSE) is looking to sell the 14 million shares of Avino it presently owns.
I, in turn, asked C.E.O. David Wolfin when I saw him late last week amid a broader update on the company.
In short, according to Wolfin, Coeur has had to sink a lot of money into its Rochester (Nevada) expansion and elsewhere and is simply raising cash as it can.
Crazy, but no crazier than when it paid well over $300 million back for Penasquito before it sold that project to Avino for pennies on the dollar later.
Avino has continued to do well in a punk market operationally, even as this Coeur sale news made a bad situation worse (ASM shares have been heavily shorted during this time for weak PM stocks' prices, too.) But this is especially an instance where a broken share price does not properly reflect a company that not only is NOT broken but has scored some great exploration news in 2023, among other things.
You would do well to be buying/buying more at these levels and wait to be properly rewarded as the company's own good performance is augmented down the road by better metals prices/sentiment.
--> SELL Latitude Uranium Inc. (LURAF:OTCMKTS;LUR:CA). In visiting with other colleagues in New Orleans over the last several days, my downbeat views here were reinforced on this company/management.
And by and large, this past summer's much-ballyhooed exploration at Angilak, at least, was worse than underwhelming. And with this management's apparent focus being on other companies/projects to the point where they have been wholly unresponsive for a while now where Latitude goes, we'll move on.
Even where the white-hot uranium story goes, there's a reason why the explorers lowest on the food chain have not yet benefitted from the euphoria. It will be many years before their resources — even if proven viable — will be exploited.
(NOTE: But one significant exception to that remains Blue Sky Uranium Corp. (BSK:TSX.V; BKUCF:OTC; MAL2:FSE), which you'll be getting a bigger update on shortly and which remains a BUY also.
There, the story, in part, is that the company already has one key customer ready and waiting for its uranium and won't be toward the back of the line in global markets!)
Hindsight being 20/20 (where IS that damn DeLorean when I need it?), traders would have done well to trim some inverse ETF positions when I sounded caution / Accumulate on them several days back. But that said, I do NOT believe that last week's rips higher for most stocks constitute a trend reversal.
The net result of all the recent gyrations in long-term market interest rates in both directions is that we remain in an uptrend for rates. Indeed, the yield on the bellwether 10-year Treasury is ticking back higher this morning, showing no desire to break below its 50 dma.
As soon as they are posted, I will be sharing with you two very comprehensive market commentaries from the N.O.I.C.; immediately on social media and when it's next convenient via an email. For now, consider all the inverse ETFs a "BUY" once more at their present levels.
Lastly . . . Two new recommendations for today --->
I'll have much more to say on both of these in the days not far ahead, but for now, I want to give you the names of two companies whose stories/managements have been known to me for many years and where I now see stories too compelling to pass up even with my tightened criteria for junior resource stocks as recently articulated:
First, add Dolly Varden Silver Corp. (DV:TSX.V; DOLLF:OTCQX) as a BUY amid my roster of growth-oriented companies.
A few of you remember that Dolly Varden was actually a recommendation of mine many moons ago, under much different (and, in the end, sub-par) management.
The new management of the recent past, led by the dynamic C.E.O. Shawn Khunkhun, has been steadily growing Dolly Varden into one of the elite high-grade silver and gold resources in North America.
NEWS is out over yet another step-out hole in its massive drilling program to, in the end, reveal just how massive its Kitsault Valley Project/area is in B.C.'s Golden Triangle area.
Among today's releases is a hole returning 461 grams/ton of silver equivalent — 296 g of silver, 1.68% lead, and 3.01% zinc) over 26.99 meters.
Alaska Energy Metals Corp. (AEMC:TSXV;AKEMF:OTCQB)
A decidedly better chart than has been experienced by the average resource explorer, DV's still shows the share price down by about a third from its earlier 2023 high. This is as follows: 1. the news has just kept getting better, on the way to a substantial resource upgrade I think is coming before too long, and 2. Hecla has been upping its stake in DV shares.
This pullback and water-treading since midyear, I.M.O. is a gift, allowing us a better entry point.
I'll have much more color on Dolly Varden and why I put it right up there with other high-grade stories like Amex Exploration shortly, as — among other things — I distill the notes from my visit with KhunKhun from this past weekend. For now, visit Dolly Varden RIGHT HERE.
Secondly, add Alaska Energy Metals Corp. (AEMC:TSXV;AKEMF:OTCQB) as an immediate BUY as well, among my roster of speculative opportunities.
Ultimately, the CA$22 million market cap may end up a pimple on a flea in comparison to the potential value of this emerging major multi-billion pound nickel resource in southern Alaska.
I wish I had gotten us all in earlier, but this is an evolving story still which — though additional funding will be needed going into 2024 to keep the ball rolling, as I'll be detailing further soon — CLEARLY has been garnering attention.
Here, too, I have known President/C.E.O. Greg Beischer for many years. Formerly, he ran the old Millrock Resources, a prospect generator. Yet a fortuitous set of events opened back up for him a vast area of nickel mineralization known as the Nikolai Project in southeastern Alaska.
Having known of its potential since doing some work on it way back in the 1990's for Inco, Beischer decided to focus just on Nikolai and renamed/rebranded Millrock accordingly to focus on this one premier asset.
Here again, I'll have much more color on this exciting project to follow, one which — I must add here — is adjacent to another area owned, in part by Bill Gates and Jeff Bezos, as these folks also are looking for BIG nickel projects to feed the E.V. industry (and more) of the future.
For now, visit Alaska Energy Metals RIGHT HERE.
This very comprehensive e-mail covering myriad subjects/companies was specially made available to Streetwise Reports by Chris Temple / The National Investor to demonstrate the depth and variety of information and recommendations Chris' audience receives like this several times per month. As you know, Chris is a regular contributor to Streetwise Reports.
We wanted to share his email alert (sent to his paid Members) of November 6 with you, and we encourage you to contact Chris for other similar work/research he makes available. Simply write to him at chris@nationalinvestor.com.
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