Recap Of The Palisade Hard Asset Conference – Jekyll Island, GA

Recap Of The Palisade Hard Asset Conference – Jekyll Island, GA

I haven’t made a blog entry in a long time but to be fair, it’s been dead out there.

I’m just returning home from the Palisade Hard Asset Conference on Jekyll Island, GA.  This was really more of a high-level and intimate (some 80-100 people) gathering than a conference.  The guests included some of the natural resource industry’s biggest players such as Frank Holmes, Paul Matysek, Rob McEwen, Eddie Sugar, and Marin Katusa.

The Jekyll Island gathering also allowed for some quality time with some quality cats I hadn’t spent enough face time with in a long time.  See, when I got going in this racket called junior mining, I was picking stocks for Doug Casey’s Casey Research and I spent a lot of time exchanging ideas and having a good time with Dave Forest and Marin Katusa – all 3 of us kicked off our careers in this industry working at Casey Research.  The weekend made for some great reminiscing with two of the highest quality guys in the industry.

It was also great to meet some very bright and up-and-coming natural resource players like Matt Geiger of MJG Capital and Joe de la Plante of Osisko Gold Royalties – I really enjoyed my discussions with them over dinner on Saturday night.

And I would be remiss if I didn’t discuss junior mining’s rising star and one of this weekend’s great hosts – Collin Kettell.  In short, Collin is kicking ass and he’s only getting going in this sector.  He’s intelligent, hungry, old-school honorable, and he intuitively understands all aspects of the junior mining game.  Their styles are very different but, in many ways, because of the aforementioned attributes, Collin reminds me so much of a younger Marin.  And Collin is pulling this all off without the benefit of having ever participated in a meaningful bull market in the resource sector – pretty impressive.

It was a great crowd, a great setting, and a great exchange of ideas and stories – I’m really looking forward to the next Palisade Hard Asset Conference.

I’ve also updated my blog holdings after a 1-month hiatus.  I’ve dropped 3 companies: Goldplay Exploration, Idaho Champion Gold Mines, and Chalice Gold Mines.  I’m actually still quite fond of Idaho Champion (I still own 300K shares in a personal account) and Chalice Gold Mines but it was time to clean up the portfolio.

Going forward, I plan on trying to hold fewer companies – I imagine I might move off Cordoba and Nexus once they come off their 4-month holds in the coming weeks while maintaining upside through their warrants.

Victory Metals (TSXV – VMX) is still performing quite well for me – up some 97%.  After hearing Collin’s presentation at Jekyll Island, I’m going to hang on to it longer – I believe Victory Metals will eventually be a change of control opportunity in the vanadium space.

Pan Orient (TSXV – POE) is moving ever closer to drilling the high-impact Anggun-1X well on Sumatra, Indonesia – I suspect they will spud some time in late July to mid-August.  It’s a huge structure and if it’s charged, this could be one of the biggest onshore hydrocarbon finds of 2019.  The company’s current valuation is nicely backstopped by production from its new oil discovery in Thailand.

And my top pick at the conference, Liberty Gold (TSX – LGD), is trudging along.  That’s about to change soon.  I strongly believe the next couple of months will reward Liberty Gold shareholders with asset sales in Turkey which should provide the company with a nice cash infusion.  Furthermore, Liberty Gold is about to drill the shit out of Black Pine which may eventually become a 3-5 million ounce oxide gold deposit in mining-friendly Idaho.  If Liberty Gold stays at these levels under $0.35, I look forward to picking up more shares.

That’s it for today, looking forward to trying to post a little more regularly going forward.

Philip O'Neill
Philip O'Neill
poneill@mp1capital.com