Two Exploration Companies Have Impressive Volume
Michael Ballanger of GGM Advisory Inc. shares his thoughts on Getchell Gold Corp. (GTCH:CSE; GGLDF:OTCQB) and Fitzroy Minerals Inc. (FTZ:TSX.V; FTZFF:OTCQB).
After all of my whining and sniveling, the Getchell Gold Corp. (GTCH:CSE; GGLDF:OTCQB) and Fitzroy Minerals Inc. (FTZ:TSX.V; FTZFF:OTCQB) went out on impressive volume, with both issues trading more U.S. dollar volume than Canada.
What was really impressive was that they both went out on the high trade for the session, a testimonial to the integrity of both deals and an even greater testimonial to the dramatic shift that is materializing in the juniors, an event that has taken longer by lifetimes than I ever imagined.
I have never doubted the economic viability of Getchell's Fondaway asset, but I have had my issues with management's ability to attract new investors. That all changed when Chairman Robert Bass stepped up and assumed the role as the major reporting shareholder, owning over 20% of the company.
It took him less than a year to revamp the board and execute important management shifts that have put an entirely new face on the company.
With the addition of an institutional "introducer" in Karen Mate, the story that is begging to be told is now in full regalia.
We have all been waiting for ages to suffer the un-aestheticized version of root canal surgery on an impacted molar, but that is a small price to pay for a 10-20 bagger in a gold market just starting to attract the Wall Street money.
Unfathomable what will happen when the tech monkeys start re-allocating to the junior gold developers. . .
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Important Disclosures:
As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Getchell Gold Corp. and Fitzroy Minerals Inc. Michael Ballanger: I, or members of my immediate household or family, own securities of: Getchell Gold Corp. and Fitzroy Minerals Inc. My company has a financial relationship with Fitzroy Minerals Inc. I determined which companies would be included in this article based on my research and understanding of the sector.Statements and opinions expressed are the opinions of the author and not of Streetwise Reports, Street Smart, or their officers. The author is wholly responsible for the accuracy of the statements. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Any disclosures from the author can be found below. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy. This article does not constitute investment advice and is not a solicitation for any investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Each reader is encouraged to consult with his or her personal financial adviser and perform their own comprehensive investment research. By opening this page, each reader accepts and agrees to Streetwise Reports' terms of use and full legal disclaimer. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.For additional disclosures, please click here.
Michael Ballanger Disclosures
This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.