More coverage of IGO:
Kwantes refreshes Independence Gold buy
2016-09-07 19:48 ET - In the News
James Kwantes, in the Aug. 22, 2016, edition of Resource Opportunities, refreshes his buy of Randy Turner's Independence Gold Corp., recently 37 cents. Mr. Kwantes said buy on Aug. 8, 2015, at eight cents and on April 30, 2016, at 13 cents. Assuming a $1,000 investment for each of the two buys, the $2,000 position is now worth $7,471. Independence owns the Boulevard project in the Yukon, right beside the Coffee deposit owned by Kaminak Gold, which was taken over by Goldcorp for $520-million this summer. The takeover only added to the excitement that has seen Independence soar from just six cents at the start of the year. Despite its run, its market cap is still barely above $20-million, which in Mr. Kwantes's opinion would make it a "bite-sized" morsel if Goldcorp is still hungry. Goldcorp certainly seems be sniffing around, based on its right-of-first-refusal agreement on Boulevard. More information about this project should arrive around mid-September, when Independence will release results from 30 holes drilled as part of a summer exploration program. Until the results are released, the stock may drift down, says Mr. Kwantes. The down days could present good buying opportunities. |
