January 31, 2022 (Investorideas.com Newswire) Bob Moriarty of 321 Gold explains why he is a believer in Scottie Resources, which owns 52,000 ha of prime ground in British Columbia’s Golden Triangle.
If the resource industry selected a bird to represent mining stocks as a mascot, I think the most representative would have to be the parrot. With 50 to 60 different writers of various calibers, you would think you would be able to choose from 50 to 60 different opinions about the economy, gold, and various resource companies. Instead you get four or five original voices and 50 or so parrots.
Investing at a profit is easy. You should buy when things are cheap, and you should sell when they get expensive. Junior resource stocks very in price by hundreds of percent from the low to a high in an average year. If you would accept 20 percent gains or 50 percent gains or 100 percent gains on a regular basis you could do quite well.
I’m going to give my readers a freebie. A couple of years ago we were in a similar long-term slump and a lot of stocks had dropped 70 to 90 percent and were bouncing along at new yearly lows. Many were under 10 cents a share.
We are back there now.
I have been picking up really cheap stocks that have been rode hard and put away wet. I’ve bought half a dozen that are below $.05 a share after dropping 90%. And there are many more under a dime.
From Sept of 1929 the DOW dropped 89% into July of 1932. But between July of 1932 until June of 1933, while still deep in the depression, the market climbed 150% in one year. A lot of these juniors are so cheap now and are going to have a similar rebound. Just remember to sell them at a profit.
The quality of the junior gold and silver stocks is higher than it has ever been. Most of the charlatans have been run out of the business or are all caught up in the latest Bitcon scam. Resources are going to turn as the overall market drops to depths most investors today have never known.
Scottie Resources Corp. (SCOT:TSX.V) controls 52,000 ha of prime ground in the midst of the Golden Triangle region of British Columbia. Their primary focus right now is the former Scottie Gold Mine that delivered over 95,000 ounces of gold production from 1981-1985 at an average grade of 16.2 g/t gold.
The mine comes with a mining and production permit and an underground 200 TPD mill. Management at Scottie intends to define a million ounces or more and then get back into production. Drill results released lately support their belief that there is a lot more high-grade gold left in the deposit.
On 14 January, the company reported tapping into a series of high-grade sheeted veins showing in one hole, 11.8 g/t Gold over 6.57 meters, 20.6 g/t Gold over 2.22 meters and 37.2 g/t gold over 3.71 meters. These holes are part of a 14,500-meter drill program conducted in 2021.
Additionally on the 25th of January Scottie released results of ten meters of 3.21 g/t gold 2.25 meters of 15.6 g/t gold and 0.75 meters of 46.3 g/t gold.
Scottie is not a one trick pony. In addition to the Scottie Gold mine, they own the Georgia project host to the past producing Georgia River Mine with really outstanding results from a 2020 drill program conducted by AUX Resources.
For a company consistently delivering such high-grade intercepts the share prices seems remarkably subdued with a high a year ago of $.30 and a price of $.16 today. With any renewed interest in gold, I see the stock going higher. It’s very cheap today considering how much gold they are putting under their belt.
Scottie had $3.5 million in cash at the end of November, so I don’t think there will be any financing done at these prices.
Scottie Resources is an advertiser on 321gold. I don’t happen to own any shares but am still biased. Do your own due diligence.
SCOT-V $.17 (Jan 28, 2022)
SCTSF-OTCBB 202 million shares
Scottie Resources website
Bob Moriarty founded 321gold.com, with his late wife, Barbara Moriarty, more than 16 years ago. They later added 321energy.com to cover oil, natural gas, gasoline, coal, solar, wind and nuclear energy. Both sites feature articles, editorial opinions, pricing figures and updates on current events affecting both sectors. Previously, Moriarty was a Marine F-4B and O-1 pilot with more than 832 missions in Vietnam. He holds 14 international aviation records.
1) Bob Moriarty: I, or members of my immediate household or family, own shares of the following companies mentioned in this article: None. Scottie Resources is an advertiser on 321 Gold. I determined which companies would be included in this article based on my research and understanding of the sector.
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5) From time to time, Streetwise Reports LLC and its directors, officers, employees or members of their families, as well as persons interviewed for articles and interviews on the site, may have a long or short position in securities mentioned. Directors, officers, employees or members of their immediate families are prohibited from making purchases and/or sales of those securities in the open market or otherwise from the time of the decision to publish an article until three business days after the publication of the article. The foregoing prohibition does not apply to articles that in substance only restate previously published company releases. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Scottie Resources, a company mentioned in this article.
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