Power Nickel Inc (TSXV: PNPN) is building momentum as the naked shorts desperately struggle to cover. There doesn't appear to be any resistance in sight. It looks ready to go significantly higher.
Abitibi Metals Corp. (CSE: AMQ) has faced some resistance in recent days but is consistently trading strong volume and building a large following. AMQ announced this morning that it will be completing a high-resolution property wide Gravity Survey at the B26 Polymetallic Deposit scheduled to commence on May 14th. The B26 footprint currently has a strike length of 1.6 kilometres, but AMQ has identified a targeted trend of approximately 5.5 kilometres west of this footprint, which will be investigated by this survey. AMQ's market cap at $0.45 is only CAD$49.49 million and with CAD$18 million in cash it equals an enterprise value of only CAD$31.49 million or US$22.97 million.
Aris Mining (TSX: ARIS) originally had resistance too after Frank Giustra's investment into the company. Yesterday, ARIS once again finished in the green despite both GDX and GDXJ finishing in the red.
Augusta Gold (TSX: G) is likely to surpass its April 3rd high of $1.26 per share very shortly. G's dip from $1.26 per share to a current price of $1.02 per share occurred on low volume. G is the second largest owner of gold resources in the Beatty Gold District after only AngloGold Ashanti (AU).
Orogen Royalties (TSXV: OGN) is the closest comparison to G, because its most valuable asset is its 1% NSR royalty covering AngloGold Ashanti (AU)'s Expanded Silicon/Merlin Project in the Beatty Gold District. OGN has a current market cap of CAD$201.35 million or 2.27X higher than G's market cap of CAD$88.514 million. During gold bull markets, gold development companies like G gain significantly more than gold royalty companies like OGN. With OGN closing yesterday at a new 5-year high of $1.04 per share, it is likely that G is about to breakout big in the days and weeks ahead.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. This message is not a solicitation or recommendation to buy, sell, or hold securities. NIA has received compensation from PNPN of US$50,000 cash for a six-month marketing contract. NIA has received compensation from ARIS of US$50,000 cash for a six-month marketing contract. NIA has received compensation from LFG Equities Corp. of US$30,000 cash for a three-month AMQ marketing contract. NIA's President has purchased 224,200 shares of G in the open market and intends to buy more shares. This message is meant for informational and educational purposes only and does not provide investment advice.
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