Just posted the following on SH site, Skeena section.
Thought I would share it here, too. Worth looking at this stock, even though the web site is "underconstruction" and devoid of even a list of press releases. You have to go to SEDAR.
Management says they're working on the web site. Hope they're working harder on the mine in Ecuador.
skeenaresources.com
I learned about Skeena from RocketRed, then did a lot of reading of my own before backing up the CRV. (That means less than a truck but more than the trunk of my sedan.)
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Skeena ~~~ Still looking good to me!
Skeena SKE has the proper ingredients for a moon shot. That doesn't mean it is a sure thing. That means it is an intelligent speculation. It is not moose pasture, and it has a real management team in place that has credentials. Founder Ron Netolitzky just agreed to sell another one of his companies, Viceroy Exploration VYE on the Toronto, to producer Yamana for a large load of stock.
Skeena has a property that has a history of drilling and artisinal mining, in Ecuador, a country that has only recently opened up for business. There is some country risk, but hey it is good enough for IAMGold, so it should be good enough for Skeena.
Skeena is currently expanding that property. Skeena has trench results to to die for, and it is still dirt cheap.
Market cap calculation: 45 mm shares times c53 cents equals market cap of c$24 million dollars.
Very little downside risk at that market cap level, considering the company's Ecuadorian prospect definitely has gold reserves in the ground and in fact is being mined by the outfit that Skeena is gradually buying out.
What you do in my view is find a few like this and spread the speculative money around. You don't put it all in one basket, and you don't put all your money in spec stocks either. Two others I like right now are Madison Minerals MMR and Signet Minerals SGN.
Regarding the occasional innuendos about pumping and dumping: I have plenty of this stock, maybe more than I should. So there could be some advantage to me in getting the word out here on the fact that this is a decent spec stock.
The main reason I post on stocks I really like is it helps me refine my own views, and to decide as I put the facts together whether I'm regarding a stock as a passing fancy, ie a trade, or a holder. I am thinking this one is turning into a holder. At least, keep some in a taxable account for the long haul, while trading some in a tax sheltered account such as the IRA.
But really, what you guys do here, or what I do, is of little consequence. Take a look at the upside volume on SKE! The way the stock held up during the Thursday-Friday nat resource mini collapse should also tell you something. Same for MMR and SGN, by the way! Definitely under accumulation, all three of them.
This is the big boys playing for keeps. We are just peering through the cyclone fence at the game, hoping to catch a fly or two.
Michael |
