“Lake Superior Secret, Canadian Style”

By Travis Johnson, Stock Gumshoe, August 1, 2007

Well, after a week’s hiatus the Gumshoe needs a little kick start to get going … so here we have a teaser that was not only solved by a reader, but confirmed by the company itself with a posting of the recommendation on their website. Handy.

This one is from the Mining Speculator by Greg McCoach, who we’ve not seen many teasers from since his (admittedly excellent, so far) recommendations of Polymet and Duluth, the two companies that were teased as holders of Lake Superior’s $2.6 Trillion Secret. And actually, I think that teaser may still be making the rounds, so maybe some of you haven’t seen it yet.

In his words, “I just returned a few days ago from a site visit to a junior mining company I think has the potential to gain 200% over the next twelve months … As you’ll recall, for the past five months I’ve been telling you about Lake Superior’s $500 billion secret [Gumshoe’s note: hey! This used to be $2.6 trillion! Where’d the money go?], and the company that is right there setting up shop to produce the region’s massive metals complex.

So, like the previous teasers, this talks in generalities about the huge potential of the Lake Superior region for metals.

While some good gains have been sussed out from the US side of Lake Superior as PolyMet and Duluth, among others, try to capitalize on high metals prices by reinvigorating moribund mining projects (and probably finding some new stuff on their own), our like-minded friends on the colder side of the border have yet to participate, apparently, in the stock runup. Perhaps they’re too busy enjoying the Canadian dollar’s race to parity with the Greenback, though that’s a topic for another day.

And what better way to help them than a nice solid newsletter recommendation from McCoach?

“And there’s a tiny company there now working on the property. They’ve started drilling and have confirmed significant metal deposits. That’s the company I just visited . . . and that’s the company I’ll be recommending next week.”

That’s this week, now, the email came out on July 27 and the recommendation was posted, according to the details I’ll share in a moment, yesterday.

“The stock currently trades for $1.15 a share … once the story gets out to the market, I think this company will quickly rise above $2 to $3 a share.”

So … it’s a company trading at about $1.15 a share, that’s in some kind of early exploration and investigation phase for a mining project that’s geologically similar to the Polymet and Duluth projects but on the other side of the lake/border (reading between the lines a bit here — he didn’t provide many details in the teaser).

Are you getting our free Daily Update
"reveal" emails? If not,
just click here...

Man, it’s a good thing a reader sleuthed this one out for me.

This wee Canadian miner, destined to plunder the secrets of Lake Superior’s metal deposits, is …

MetalCORP (MTC up in Toronto, MTCLF on the Pinks)

Boring, huh? It’s like no one even bothers to come up with a good name for their company anymore.

The shares did get a little boost from McCoach, one assumes, because what was $1..15 late last week (that’s US dollars, though the difference isn’t so great as it used to be) closed today at $1.36 on the pink sheets. Don’t despair, though, ye performance chasers — that’s less than a 20% gain, and McCoach is looking for 200% with this one. So you never know.

Now I’m far from an expert on mining, but I did note with some interest that this teaser solution was essentially confirmed by the company itself — they posted an announcement on their website with a link to (this one’s a pdf file) McCoach’s actual Mining Speculator writeup, which I imagine his subscribers had expected was restricted for only their eyes. Odd.

So there you have it — a Canadian miner with a few interesting irons in the fire … dunno if its any good or not, but McCoach appears to have a pretty good track record, at least with his two teased picks from earlier this year (should we be worried that he has been stingy with the teasers of late … maybe no other good ideas in there? Just wondering).

As always, if you’ve got any info on MetalCORP or an opinion on McCoach’s service, feel free to opine with a comment here or at the forum — sharing knowledge makes us all smarter.

Or at least, more knowledgeable. Happy investing, and keep those teasers coming!



This site uses Akismet to reduce spam. Learn how your comment data is processed.

Inline Feedbacks
View all comments
September 13, 2008 2:48 am

During this time of commodities sell off Polymet is hanging in there while Duluth and MetalCORP tanked. Can’t blame McCoach for that.

Add a Topic
Add a Topic
Myron Martin
Myron Martin
February 8, 2010 9:44 pm

I give McCoach pretty high marks for actually VISITING potential mines he is interested in and checking them out thoroughly before making a recommendation. He tends to identify WINNERS early in their cycle!

That being said, I recently sold 500 shares of Duluth @$3.95 which turned out to be a temporary HIGH, a few weeks ago. This leaves me with BOTH a nice profit AND 500 FREE shares I will hold for further developments!

McCoach has also been vindicated in his choice for his more exclusive PRIVATE portfolio I did not subscribe too because of its high cost. With my sons help we identified EXPLOR Resources from his “teaser” which we bought @49c and again I recently sold 1000 shares in the 90,s and another 1000 @1.20, again leaving me with several thousand FREE shares to hold for future developments.

In the past 6 months I have had at least 6 more penny mining stocks that returned from 50% to over 300%, stocks I identified through diligent research. It takes a lot of HARD WORK to dig out information BEFORE it hits the mainstream, but ONLY if you are ahead of the herd will you make the major returns we all look for.

The KEY to making profits in the junior miners is NOT BUY and HOLD, it is finding the “catalysts” for an impending event, whether that is identifying a resource, a new N1-4301 report, a feasability study, commencing mine construction, first gold pour etc. you want to be IN before the KEY announcement that will move the stock!

Another key element is CONVICTION, in this case BELIEVING that gold and silver are REAL MONEY and will continue to advance as fiat currencies TANK with all the DEBT problems around the world.

The investors who bought my Duluth shares @ $3.96 or my Explor shares @ $1.20 are probably not to happy right now with the recent sell off, but IF they hang on to the shares instead of selling them in a panic, in a few months they will still be happy campers.

My point here is that TIMING is crucial, you need to get a good BUY point, you do that by studying share price HISTORY and determining where the Co. is in its development cycle and what is the next likely EVENT that will draw attention to the stock!

A good sell point is equally important and the key factors here are TAKING PROFITS when you have them; as successful mine development can take many years and there will be DEAD ZONES as well as market factors that affect the stock price.

It is entirely possible that I will buy more Duluth and Explor again at some future point, maybe even at higher prices than what I sold at, it all depends on what the market as a whole does and what FUTURE events might show promise for another DOUBLR or TRIPLE!

A good BUY POINT in the future may be at much higher prices, it DEPENDS on the then current circumstances. Investors who lose money on these “cyclical stocks” (I learned the hard way) usually do so because they make EMOTIONAL decisions to buy at market when they get a hot tip instead of being PATIENT and buying on dips.

Ponce is right, too many people judge an analysts recommendation on what happens in the SHORT term, in other words the fact that Metal Corp. has sold off temporarily based on general market factors beyond the control of any analyst has nothing to do with whether it is a good or bad pick, the sell off just might make it a real bargain for a short time, IF the fundamentals are right, something I need to determine for myself before making a decision.

Add a Topic
Add a Topic
Add a Topic

We use cookies on this site to enhance your user experience. By clicking any link on this page you are giving your consent for us to set cookies.

More Info