Interviews
Orca Gold—Update With CEO Rick Clark
6/12/17
On the heels of big news last week from Orca Gold (ORG/CANWF), I thought it would be a great time for an update from CEO Rick Clark. I’ve been following Orca for years, almost 5 actually, and I’ve never been more excited about the prospects as I am right now. The new water discovery and decision to move directly into a bankable feasibility study versus PFS is very bullish as it shows a lot of confidence in the project. As you can see from the 10 year chart above we are a LONG way from the 2011 top near $20 per share. The biggest thing to understand here and gleam from the update below is that the reality in Sudan is MUCH different than the perception. But, even the perception is changing and the US government has begun to lift sanctions as Obama went out the door and it looks like the Trump administration will continue this policy. It will open up business considerably in the country and this will benefit Orca tremendously as they have a serious first mover advantage. Those of you unaware of the story should take 30 minutes out of your day to hear about this truly special situation in the gold junior sector. I am reiterating my $1.50 CDN price target within 18 months which is more than a 200% return from current levels. There are many reasons for my bullishness and I think investors will be able to make your own determination if you agree with me after absorbing the webinar recording.This is one of my top 5 junior gold recommendations. Under a $50MM market cap, it is probably top 3 and is a six figure position for me personally. Enjoy…Eric owns shares in Orca Gold
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Chat with Rob McEwen of McEwen Mining
5/12/16
One year ago in May 2015, I initiated coverage on McEwen Mining (NYSE: MUX) (TSE: MUX) at $1.09 per share with a strong buy recommendation and a 12-24 month price target of $3 (speaking in terms of USD MUX on NYSE). You can read the report here.The share price has gone up by 150% and closed today at $2.53. During my webinar below, which Rob and I recorded today, I raised my price target to $10 per share by the end of 2017. I will be walking through more solid economics in my next report but we did some back of the napkin tabulations on the webinar. Rob demonstrated that when all categories of reserves are measured, and including their copper monstrosity that is Los Azules, MUX owns 46 Million ounces of Gold equivalent ounces in the ground right now. Stick that in your pipe and smoke it! In the report from May 2015, you’ll see a 10 year chart showing 3 major bottoms and two major tops since Rob took over UXG (now MUX). The 3rd top will be hit again, and it also will likely be breached. The price has twice hit $10 per share when MUX wasn’t nearly as established. Rob McEwen has put $127 MM of his own cash in MUX to acquire his 25% equity ownership position. His only reward in building the company is share price appreciation as he takes no salary, no options, no bonuses, etc. His personal cost average is just under $2 per share. We can buy today just 20% above his cost basis but he has been busting his hump building value in the business for well over a decade, we just press the “buy” button. Enjoy the 45 minute or so webinar for yourselves. The camera didn’t zoom back and forth to who was speaking so you’ll have to look at my mug throughout! Or better yet, just turn up the volume and listen versus watch….it’s just a talk/Q&A.Eric owns shares in MUX and may buy more or sell at any time without notice
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