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KRO Summary: October 1 to November 30, 2019


KRO Monthly Summary: October 1 - November 30, 2019
The KRO Summary lists all Trackers and Blogs published during the designated weekly or monthly period so that readers can easily catch up on what they may have missed. We no longer notify KRO members by email about new material except in special circumstances. When a Tracker is posted at KRO we notify members through the KaiserResearchOnline Slack Workspace. If you are an active KRO member and not registered on Slack, please let us know and we will send the invite. We will email the link to the KRO Summary to all KRO members when it is published. We will also Tweet the link so that Twitter followers can catch up at their leisure. The title links to the Tracker or Blog, the charts in the Discovery Watch Blog link to the YouTube audio segment for that company, and the Tracker charts link to the free Corporate Profile. The Tracker comments in the Summary feature only the first few sentences. On occasion we may include commentary on the state of the market.
New KRO Individual Memberships and Renewals (USD $450 per year) will be temporarily suspended January 1, 2020 while we embark on a redesign of Kaiser Research Online. The multi-user Corporate Memberships will continue to be available during this period at USD $1,000 per year. The web site is over 15 years old and based on architecture that no longer complies with current browser standards for a secure web site. KRO is a complex information portal covering all TSX, TSXV, CSE and ASX resource listings which provides a powerful search engine that combines company with project level criteria. We do not know how long the redesign will take nor how much of the existing functionality it will include but KRO will continue to operate in its current form until the new site is operational. John Kaiser will continue Discovery Watch. Selected Trackers will be allowed to come unrestricted have a certain members-only period. If you wish to be on board in for 2020 with a KRO Individual Membership need to subscribe or renew by December 31, 2019.
The KRO Favorites 2019 Index which consists of 20 juniors is down 21% since the start of 2019 compared to gold being up 19.3% and the TSXV Index down 4.6%. It will get uglier before 2019 ends because not only are we dealing with tax loss selling but also with a new round of capitulation selling in the junior resource sector made worse by the collapse of the cannabis bubble. The Financial Times recently reported that about 400 tonnes of surplus legal cannabis sit in Canadian warehouses. At about a third of a gram per joint, that is over 1 billion joints looking for a market already well supplied by cheaper illegal cannabis. We in the junior resource sector might be tempted to engage in a round of Schadenfreude, but that would be unwise because the backlash against the Canadian stock exchanges, brokerage system and regulators will hit all types of juniors. The collapse of the dot-com bubble in 2000 did not do anything for the resource juniors until metal prices started to rise in 2003. We have had a decent gain in the gold price this year, but it has not generated market enthusiasm for resource juniors. The resource junior eco-system is dying and the regulators have done their very best to look like they care but today it is more difficult than ever for resource juniors to get risk capital directly into their treasuries. When 2016 appeared to signal a turnaround for the resource junior bear market that began in 2011, the growing anger about the structural obstacles erected for the resource juniors dissipated. But now that we are staggering into the ninth year of a bear market, with signs that this is an extinction event, that anger is making a comeback.
In my MIF Nov 2019 Presentation: Bracing for the End Time I pointed out that 2019 is a watershed year for the resource juniors in the sense that during it the last of the Boomers turned 55. According to the wisdom of the Canadian regulators resource juniors are "unsuitable" for anybody 55 or older, meaning that if the resource sector audience of the past 50 years is to remain interested in speculating in resource juniors, they must do so on their own through a discount brokerage account where nobody but the client can be blamed for losses arising from speculating on risky stocks. At the same time a giant Post Boomer audience, born after 1964, knows next to nothing about resource juniors and is even inclined to dismiss mining as something bad best avoided. The challenge is to develop ways that enable Post Boomers to embrace resource juniors not just as a valid betting subject, but as a space where they can operate as influencers, not just passive victims of momentum based pump and dump schemes. The solution to that challenge will also enable Boomers to operate on their own now that they have been abandoned by full service brokers for any role except to be milked for asset management fees. I have a vision of how this could be accomplished, have been working on it with an Australian startup during the past four years, and just might deliver it in 2020.

KRO Favorites Center - Nov 29, 2019
Company Start End Start
Price

Spec Value Rating Current
Price
Chg
Atac Resources Ltd (ATC-V) 12/31/2018
$0.260 Bottom-Fish Spec Value Favorite $0.185 -28.8%
Colonial Coal International Corp (CAD-V) 4/8/2019
$0.510 Good Spec Value Favorite $0.420 -17.6%
Eagle Plains Resources Ltd (EPL-V) 12/31/2018
$0.090 Bottom-Fish Spec Value Favorite $0.085 -5.6%
Midas Gold Corp (MAX-T) 12/31/2018
$0.960 Fair Spec Value Favorite $0.680 -29.2%
Midland Exploration Inc (MD-V) 12/31/2018
$0.990 Good Spec Value Favorite $0.730 -26.3%
Minaurum Gold Inc (MGG-V) 12/31/2018
$0.480 Fair Spec Value Favorite $0.395 -17.7%
Namibia Critical Metals Inc (NMI-V) 12/31/2018
$0.175 Bottom-Fish Spec Value Favorite $0.245 40.0%
Nevada Exploration Inc (NGE-V) 12/31/2018
$0.310 Fair Spec Value Favorite $0.240 -22.6%
Orezone Gold Corp (ORE-V) 12/31/2018
$0.570 Fair Spec Value Favorite $0.600 5.3%
Osisko Metals Inc (OM-V) 12/31/2018
$0.520 Fair Spec Value Favorite $0.420 -19.2%
Pacton Gold Inc (PAC-V) 12/31/2018
$0.325 Bottom-Fish Spec Value Favorite $0.110 -66.2%
PJX Resources Inc (PJX-V) 12/31/2018
$0.215 Bottom-Fish Spec Value Favorite $0.125 -41.9%
Renaissance Gold Inc (REN-V) 12/31/2018
$0.170 Bottom-Fish Spec Value Favorite $0.285 67.6%
Royal Nickel Corp (RNX-T) 12/31/2018
$0.480 Fair Spec Value Favorite $0.415 -13.5%
Scandium Intl Mining Corp (SCY-T) 12/31/2018
$0.210 Good Spec Value Favorite $0.085 -59.5%
Serengeti Resources Inc (SIR-V) 12/31/2018
$0.245 Fair Spec Value Favorite $0.240 -2.0%
Sun Metals Corp (SUNM-V) 12/31/2018
$0.300 Fair Spec Value Favorite $0.180 -40.0%
Verde Agritech Plc (NPK-T) 12/31/2018
$0.710 Good Spec Value Favorite $0.460 -35.2%
Westhaven Ventures Inc (WHN-V) 12/31/2018
$1.350 Fair Spec Value Favorite $0.790 -41.5%
Wolfden Resources Corp (WLF-V) 12/31/2018
$0.240 Fair Spec Value Favorite $0.080 -66.7%
The table above shows my 2019 KRO Favorites. Although most have done poorly and none have done spectacularly well, I remain proud of this as a quality group of resource juniors. There are another 150 juniors classified with Bottom-Fish, Fair or Good Spec Value ratings. When I recently used my KRO Search Engine to walk through 1,500 Canadian listed resource juniors I stopped feeling sorry for myself as I surveyed a landscape of devastation. Many of you may intuitively know from anecdotal experience what I am talking about, but only KRO members who have used my Search Engine to walk through this valley of death know how bad it is. You can check my State of the Junior Resource Sector for graphical summaries. (By late December we will have the September 30 financials in the KRO database and I can guarantee it will all look even worse.) I was only able to identify several dozen "new" juniors potentially deserving of a positive spec value rating. For 2020 I will be updating my list of juniors with positive spec value ratings and preparing a new list of Favorites. Despite my evident pessimism about the overall situation I do think the conditions are right for a turnaround in the resource juniors spawned by discoveries, an uncertainty driven higher gold price, and exotic stories that just might appeal to Post Boomers. See Membership Options if you think I may be right.

Oct 8, 2019 - Tracker - Tracker: Solstice Gold shakes out its ignorant shareholders
Solstice Gold Corp was hammered on October 1, 2019 when it released results for a 6 hole drill program on its 100% owned Kahuna gold project in Nunavut, dropping 65% to $0.055 after trading in a $0.15-$0.25 range since April. Given that this was only half the planned program of 11 holes, cut short by earlier than expected bad weather, a program constrained by a lake that covers much of the key target area and the first to be undertaken in the area, why the violent market response that saw more t...
Oct 11, 2019 - Blog - KMW Blog October 11, 2019: Discovery Watch October 11, 2019 with Jim Goddard and John Kaiser
Sun Metals Corp (SUNM-V) Solstice Gold Corp (SGC-V) Renaissance Gold Inc (REN-V)
Oct 16, 2019 - Blog - KMW Blog October 16, 2019: Discovery Watch October 16, 2019 with Jim Goddard and John Kaiser
Great Bear Resources Ltd (GBR-V) Azimut Exploration Inc (AZM-V) Westhaven Ventures Inc (WHN-V)
Oct 24, 2019 - Blog - KMW Blog October 24, 2019: Discovery Watch October 24, 2019 with Jim Goddard and John Kaiser
Sirios Resources Inc (SOI-V) Osisko Mining Inc (OSK-T) Midland Exploration Inc (MD-V)
Nov 1, 2019 - Blog - Kaiser Media Watch Blog - November 1, 2019 to November 30, 2019
Nov 5, 2019 - Blog - SDLRC: Brooke Clements highlights technical diamond articles for November 2019
Nov 5, 2019 - Blog - KMW Blog November 5, 2019: Discovery Watch November 5, 2019 with Jim Goddard and John Kaiser
NioBay Metals Inc (NBY-V) Tri Origin Exploration Ltd (TOE-V) Namibia Critical Metals Inc (NMI-V)
Nov 11, 2019 - Tracker - Tracker: Westhaven stepping into new target areas at Shovelnose
The market has not treated Westhaven Ventures Inc kindly since the junior reported that it closed 91% of a $7,350,000 private placement announced mid September and on October 24, 2019 that drilling was expanding into new target areas beyond the South Zone discovered in late 2018. With regard to the financing of 6,379,323 units at $1.05 with a half warrant at $1.50 for 2 years announced at a discount to the market, the timing coincided with a general sagging of market interest in resource juniors...
Nov 12, 2019 - Tracker - Tracker: Forum Energy scores a free ride on the broken Katusa-Rule uranium clock
Forum Energy Metals Corp provided shareholders with a uranium bonus on November 12, 2019 by announcing a 70% farmout deal on the Fir Island project with Orano SA, the French nuclear energy company which changed its name from Areva in early 2018. Orano is a partner with Cameco on various uranium mines and apparently is exempt from the Canadian majority ownership restriction on uranium mines. Forum purchased the undrilled Fir Island project in 2014 from Anthem Resources Inc for 300,000 shares. Fir...
Nov 13, 2019 - Blog - KMW Blog November 13, 2019: Discovery Watch November 13, 2019 with Jim Goddard and John Kaiser
Skeena Resources Ltd (SKE-V) Eskay Mining Corp (ESK-V) Forum Energy Metals Corp (FMC-V)
Nov 21, 2019 - Tracker - Tracker: Poor spin control makes Verde Agritech a bargain
Verde Agritech Plc was slammed on November 14, 2019 when it reported third quarter results for its Super Greensand operation in Brazil even though the news was that it has sold 86,400 tonnes during the nine month period compared to 29,648 tonnes in 2018. Unfortunately Chris Veloso headed the news release with the statement "that it will not achieve the stated sales target of 200 thousand tonnes for 2019". Instead the expected sales for all of 2019 would be 110,000 tonnes of product, 45% lower th...
Nov 21, 2019 - Blog - KMW Blog November 21, 2019: MIF Presentation Nov 16, 2019: Bracing for the End Time
Nov 21, 2019 - Blog - KMW Blog November 21, 2019: Discovery Watch November 21, 2019 with Jim Goddard and John Kaiser
Nevada Exploration Inc (NGE-V) Scandium Intl Mining Corp (SCY-T) Verde Agritech Plc (NPK-T)
Nov 25, 2019 - Tracker - Tracker: New Spec Value Rating for Wolfden Resources Corp
Wolfden Resources Corp reported results on November 20, 2019 for the Pickett Mountain polymetallic project in Maine which on the surface seem to explain why the stock has sunk below a dime, but after chatting with CEO Ron Little it appears that the $1.5 million spent in 2019 was very productive. The main drilling focus in 2019 was to test the FootWall Zone which had yielded a promising massive sulphide interval in 2018. The hope was that the FWZ could deliver the "third" lens that Pickett Mounta...
Nov 25, 2019 - Tracker - Tracker: New Spec Value Rating for Atac Resources Ltd
Atac Resources Ltd was established as a Bottom-Fish Spec Value rated Favorite on December 13, 2018 based on an expected focus shift to the Rau project at the western end of the 5-15 km wide 185 km long Rackla Belt in the Yukon following Barrick's abandonment of its Orion option after spending $10 million over 2 years. The eastern two-thirds of the Rackla Belt consists of carbonate stratigraphy tilted on its side which has been the subject of fluid flow bearing the signature of Carlin-type pathfi...
Nov 27, 2019 - Blog - KMW Blog November 27, 2019: Discovery Watch November 27, 2019 with Jim Goddard and John Kaiser
Wolfden Resources Corp (WLF-V) Atac Resources Ltd (ATC-V) Great Bear Resources Ltd (GBR-V)
Nov 29, 2019 - Tracker - Tracker: Tri Origin takes a big step to avoid a Zombie Spec Value Rating
Tri Origin Exploration Ltd was assigned a Bottom-Fish Spec Value rating at the start of 2019 which is in jeopardy of turning into a Zombie Spec Value rating based on a deteriorating balance sheet which at the end of September 30, 2019 shows the junior with $406,000 negative working capital. $195,000 of that amount is owed to CEO Bob Valliant and is convertible at $0.05 into 3,900,000 shares. It shows up as a current liability because it is classified as a promissory note due on demand; it has a ...

 
 

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