Vancouver Resource Investment Conference – Day 2 Recap

Vancouver Resource Investment Conference – Day 2 Recap

I’ll start my recap of day 2 at the Vancouver Resource Investment Conference by thanking Jim Paterson, Jeff Sundar, and all the team at the Discovery Group for hosting such a nice cocktail reception at Steamworks in Gastown on the evening of Sunday, January 20th.  It was a wonderful crowd and there were some great conversations – these social receptions that accompany mining conferences are such great places to catch up with people and to trade intel on companies.

Monday, January 21st started off with the first of what would be 10 meetings in the Deal Room.  Like yesterday’s post, I’ll briefly summarize some of my best ones.

My first meeting was with Tom Ullrich of Aston Bay Holdings (TSXV – BAY).  I know this story quite well since I own the stock but it was nice to touch base with Tom again after last meeting with him in Hong Kong back in October 2018.  Tom discussed the possibility of getting some land access news out in short order and true to his word, that news was released yesterday.  I like Aston Bay and may look to pick some more up at these levels.  Once the selling is all cleaned out, this stock will trade higher – especially in anticipation of drilling in Virginia later this spring.

Although I don’t really know where I stand with zinc (never a good thing!), I did find Group Eleven Resources (TSXV – ZNG) and its projects in Ireland quite interesting.  Shaun Heinrichs and Spiros Cacos did a good job of presenting the company.  Group Eleven is led by CEO Bart Jaworski, a former mining analyst with Raymond James.  Major shareholders include Mag Silver and Teck.  And Ballinalak is quite the prospective zinc lead silver project.  With a $6 million MCap and $2.5 million in cash, Group Eleven does have a very attractive $3.5 million enterprise value (EV).  If I decide I want to own a zinc stock, I think I’ve found the one I’m looking for.

The last meeting I want to bring to your attention was with Liberty Gold (TSXV – LGD).  Like Aston Bay, I own this stock and I was just looking for an update.  But CEO Cal Everett and IR Manager Susie Bell brought in a special guest: Will Lepore, senior project geologist for Liberty.  Will walked me through some cross sections and 3D models for the Black Pine project in Idaho and it was somewhat mind-blowing.  If you let the imagination wander, somewhat realistically, it’s easy to conceive of 1 or 2 super pits at Black Pine that could host up to 5 million ounces of gold.  I’m really happy I own this stock because 2019 should be a really good year for Liberty Gold.

Over my 2 blog posts covering my 21 meetings at the Vancouver Resource Investment Conference, I only discussed 7 companies in depth.  But to be sure, I met with some other good companies as well.  Some of the better meetings included: Blaine Monaghan of Fremont Gold, Michael Bennett of Altamira Gold, Paul Cowley of First Vanadium, Gary Thompson of Brixton Metals, George Glasier of Western Uranium & Vanadium, and Daniel Major of Goviex Uranium.

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