I just posted this over at CD's, but it may be more appropriate here. I have followed the recent talk here about holding baskets of juniors and I have been listing purchases for a basket of junior grassroots explorers on CD's thread. I agree whole heartedly with the importance of focusing on assembling strong baskets, it has been the key for me in making money in the market over the years
Post at CD's below-
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Not sure if I am posting this in the right place as I am predominantly a mid- to long-term investor. Seems mostly like short termers here.
Added Grande Portage (GPG) to round out a basket of grass roots junior explorers. Drill results pending for Merry Widow project, northern Vancouver Island. Cu-Au +/- Ag+Co targets lie along about 5 km strike length at contact between intrusive and Quatsino limestone. Skarns and mantos. The scale and geology of Merry Widow are reminiscent of the Mexican Ag/Au/base metal district plays. This is the first time I have experimented and made it a point of loading this basket all with cos that have drill results pending on reasonable looking targets.
I am 100%+ (margin) invested and have been for most of 06.
Biggest position by far is Aurelian. Second biggest is Southwestern Energy. They have pioneered an unconventional gas play in the Fayetteville Shale in Arkansas. They were able to tie up a huge land position in the best parts of the play before competitors realised what was going on. Subsequently CHK, DVN, and Shell have moved in big time. SWN should see strong internal growth of NG reserves. PF peformance over last few years has been strongly assisted by petroleum and petroleum service trusts. Currently hold Shiningbank, Peyto, Enterra, Vermillion and Wellco Service. Started collecting a windpower trust called Crestreet.
JUNIOR METALS
-Grass roots junior explorer basket (pure exploration stage, little or no drilling):
--BL, GPG, KAM, TSC
-Early discovery junior explorer basket (some drilling indicating a significant resource)
--ARU, NIB, SSR
-Late discovery to development stage junior basket (Advanced stage of drilling, 43-101 or near equivalent resource):
--AQI, MMGG, MDW, PAX, PFN, VGZ
-Junior miners. I usually don't like to hold miners except in special cases, either buyout potential or big upside exploration potential:
--KGI, (buyout pot and exploration pot. Office tells me new resource calc update due in Aug), SKR, (buyout pot)
Some of these have characteristics of more than one category, I try to rank them by their most advanced project.
JUNIOR OIL SANDS
-Also hold a junior oil sands basket:
--CLL, PBG (just cashed out of a CWPC pos to fund grassroots purchases) |
