From The April 2013 HRA Journal
There was little reason for optimism and certainly no optimists that we could find in the junior space this month.
This month’s editorial continues the discussion of what large companies seem to be looking for and what Juniors should be looking for too. This sort of shift is not a short term scenario. By definition it’s going to take some time for companies to retool and approach projects from a different direction with different assumptions. Even then, this will only work for a sub set of companies. Read More
From The April 2013 HRA Dispatch
Just when it looked like things couldn't get worse they got a lot worse. The gold market endured its worst two day drop in 30 years when massive selling took the price to $1325. There were a lot of reasons given for the panic - and it was a panic - but the chief culprits seemed to be a short recommendation by Goldman Sachs, rumors of potential selling by several European central banks and fears that the US Fed was about to take the punch bowl away. Read More
From The March 2013 HRA Journal
There were a lot of long faces at the PDAC this year. Many of the companies there were pulled off the waiting list when long standing attendee companies decided there was no point having a booth. Others have expressed surprise that few companies seemed to be trying to market financings. This was taken as complacency but it felt more like resignation to me. For the record, resignation is better if you're a contrarian.
The editorial this month deals with the sea change that seems to have taken place among major companies. They are looking for a different type of project and that creates difficulties for Juniors that focused on things majors are not buying right now. It's a long topic and I will cover the remainder of it in the next issue. Read More
From The February 2013 HRA Journal
Juniors are still in flat-line mode (on a good day). A bunch of new resource estimates were not enough to make much difference though in my experience they often don't. There are enough people tracking most stocks that the market tends to have a fair idea of what a resource estimate will look like. Weakening gold and silver prices dampened the impact of even good numbers. Read More
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HRA is great at getting the "real" story out on resource companies by doing their due diligence and keeping on top of maps, news releases and corporate development. I highly recommend HRA...to any investor whether it be an institutional client or private investor.