“Private Offering” for next “Multi-Billion Dollar Gold Venture” from Money Map

What's the "get in with a gold legend" idea pitched by Michael Robinson, Keith Fitz-Gerald and the rest of the Money Map crew?

By Travis Johnson, Stock Gumshoe, June 29, 2016

The folks at Money Map Press are following in the footsteps of a few other advisories by trying to not just pitch publicly traded stocks, but to pitch the idea that they can get you access to a specific private investment deal that you can’t find elsewhere.

That’s probably true in some cases — there are private placements all the time, particularly in the junior resource sector where it makes sense for companies to raise money in fairly small amounts, and they aren’t open to all comers so there are often groups of friends or fellow travelers who get the allocations. In those cases, the newsletters themselves won’t be getting the private placement shares for you directly but would really just be pointing you to the company or the company’s agent to request a piece of the deal. It’s a little murky, since little of it happens in the public eye despite the fact that these are public companies, but I know that Frank Curzio had a similar project where he tried to get some of his high-end subscribers into particular private placements that were spearheaded or shared by the Katusa/Casey/Sprott folks and other “connected” resource investors.

But this is the first time I’ve seen the access to a private placement advertised so widely, and that’s probably a big dangerous… so let’s see what stock it is they’re talking about, and see what else might jump out from the ad.

The pitch is from Mike Ward at Money Map, and he’s advertising the Money Map Project, which is one of those high end (or “back end”, as the publishers would call it) services that they sell to their “best” subscribers. Usually such services are priced in the $2,000-5,000 neighborhood, and this one’s right in the middle at $4,000. I haven’t seen mention of this Money Map Project before that I can remember, so perhaps this is their first deal.

Here’s some of the lead-in:

“First Time Ever! An Exclusive Private Offering in What Could Be the Next…

“Multi-Billion Dollar Gold Venture

“You could have a rare chance to partner with an investment legend who’s already built two billion-dollar mining companies from the ground up.

“Independent analysis suggests every stake you own could turn into $595,000”

That list of “investment legends” who’ve already built billion-dollar companies is pretty short, so I expect many of us already know what the stock is… but let’s check a few more details to be sure:

“Today, for the first time ever, I’m thrilled to tell you about an exclusive private investment offering that’s open ONLY to Money Map Project Members…

“It’s a deal that gives you direct ownership in a company that, for the past two years…

“Has been aggressively acquiring dozens of huge, high-quality gold assets across Canada, Mexico, and the United States…

“At historically LOW prices….

“The gentleman you could “partner” with already built two multi-billion dollar mining companies from the ground up – making total gains as high as 17,900% for investors who got in at the beginning of both….

“The private offering I’m recommending to you today is unlike anything you’ve seen before.

“It comes with perks and sweeteners typically given to venture capitalists, investment firms, and billion-dollar investors like Warren Buffett…

“Including an immediate ‘private investor discount’ that’s worth thousands of dollars.”

OK, so we can at least get you the easy answer: This is indeed First Mining Finance they’re talking about, and the “investment legend” who founded the company is Keith Neumeyer, who has indeed created two billion-dollar companies (First Quantum and First Majestic Silver). First Mining Finance is a “mineral bank” created out of some of the low-priority projects owned by First Majestic, and they have spent the last year or two using their shares (and Keith’s reputation and connections) to buy up small gold miners to accumulate “ounces in the ground” that, the argument goes, will become more valuable in a bull market.

The strategy, eventually, will be to partner or sell these projects to miners in exchange for royalties or some similar upside participation, effectively creating a “bank” that buys undeveloped assets when they’re cheap and “monetizes” them when there’s more demand (ie, when the big miners are looking for acquisitions to replace their reserves, or when there’s more greed in the gold mining market and folks are throwing money at development projects).

I like the strategy, I own the stock and suggested it to the Irregulars almost exactly a year ago (along with a much-less successful “bank” that’s doing non-mining royalties). And they’ve been busy — back then they had just announced their first acquisition, of Coastal Gold, and they had about 100,000 shares outstanding and roughly a million ounces of potential “in the ground” resources (including measured, indicated and inferred resources) — now, they’ve acquired (or at least announced the acquisition of) seven companies, they have almost 500,000 shares outstanding, and the “resources” number, using gold equivalent (some of the mines have more silver or copper) is now about 10 million ounces.

This is really a financial and arbitrage exercise, though the eventual success will depend on gold prices — what they’re doing now is essentially creating value by moving one asset from a junior miner without a lot of investor interest into a “mineral bank” that’s heavily promoted and run by a well-known and investor-savvy Chairman in Neumeyer.

One of the slides in their current investor presentation points this out, noting essentially that the market values an ounce of resources at somewhere in the $5-10 range when it’s held by the distressed junior miners First Mining has acquired, and the market values First Mining at more like $20 per ounce of resources…. so just by swapping shares, the juniors, on average, get almost a 100% bump in per-ounce valuation.

I imagine that’s a big part of the reason why companies are willing to be acquired for First Mining shares, though it’s also true that a lot of companies don’t really (or didn’t until this year, at least) have much choice given the lack of financing available in the sector (First Mining doesn’t generally use cash for acquisitions — in fact, most of their cash has come in because of the cash on the books of the companies they’ve acquired, so sometimes the acquisitions improve their balance sheet).

So that’s the way the company works — and they probably would have been better off, frankly, if the slump in gold miners had gone on for another year or two and given desperation a chance to really set in for more of the junior miners who have appealing assets. It might start to get a little tougher to acquire mines if gold prices continue their bullishness — CEOs in the mining sector are way too optimistic as a general rule, so if they are fed some reason for optimism by the market they’re less likely to sell their companies at a steep discount to the amount of capital they’ve expended in acquiring and exploring their properties. Neumeyer’s assertion is that “normally” gold in the ground trades for between $50-150 an ounce, and right now First Mining is valued at about $18-20 per “resource” ounce in USD (I assume that he means US dollars, but in Canadian terms it would be C$22 or 23 for the current valuation).

The biggest property they’ve acquired so far is Springpole, which they got when they acquired Gold Canyon last September when gold was around $1,100 an ounce — the cost to First Mining in shares was roughly C$60 million at the time (now C$120 million for Gold Canyon shareholders who held, since First Mining has doubled since then), but Springpole has a PEA that indicates the value is well over C$500 million with gold at $1,300 an ounce, and it’s in a very active mining area in Ontario… I would assume that’s probably the first asset of First Mining’s that’s likely to get a development deal with a major miner, since it’s big and well-defined and near lots of existing infrastructure, but you never know. Neumeyer has indicated that other properties in the portfolio have some potential to have similar-size (several million ounce) resources, but they’re not yet booked or are historic and don’t meet current reporting standards. I don’t know if there’s some kind of skeleton in the closet at Springpole, I haven’t researched it at all, but if you’re bullish on that project and on gold prices, then First Mining is an easy buy at anywhere near the current price.

Is First Mining a “value” here? I’m not completely sure, but it’s a substantial position for me and I expect it to be quite levered to gold if gold rises sharply and dealmaking begins to take off again. I sold a portion of my First Mining shares after the first surge in gold miners at the beginning of April, and bought most of that position back at close to the same price a little while ago, so I have a decent allocation to First Mining as one of my more levered and speculative gold mining investments… it’s a smaller position than I hold in Sandstorm Gold (SAND), which is a cash-flowing royalty firm, or the gold mining ETFs (mostly SGDM), but it’s much larger than the little speculations I sometimes put on in micro-sized junior warrants and options that are too small to write about to a large audience (and which are, probably, fundamentally stupid investments because of high risk).

My uncertainty about First Mining stems largely from the fact that it’s so promotional and so loved by so many different pundits and newsletter guys — that’s a good thing in that it helps them have higher-priced shares that are good to use for acquisitions, but it’s a bad thing if the market turns and the promotional stuff no longer works, and investors sell it down to those bedrock “price per ounce” valuations that so many junior miners suffer under when the market is distressed. In that way, you can think of it as somewhat of a leveraged junior — though that’s also partly offset by the fact that they now own a lot of potential mines, not just one or two like most junior miners.

But if you can stomach that risk, that if junior miners fall 50% and things get ugly again then First Mining could conceivably fall even harder, I do like the model and the “optionality” they have to sell and partner a large variety of properties IF the market goes in their favor over the long run, and I like Keith Neumeyers track record… I just try not to drink too much of the Kool-Ade or make it too big a position, even though I’m sometimes tempted to because of the appeal of the “story.”

But what’s this story about a private placement? Does Money Map Report really have a private placement lined up at 67 cents, with warrants, as they tease?

Well, probably that’s at least generally true — though I don’t know how large it is, or if it will end up feeling like a bait and switch if investors sign up and aren’t able to get the allocation they want (or aren’t eligible — you do still have to be an “accredited investor” for these private placements, which usually means you have to have income over $200,000 or investable assets over a million dollars).

The private placement they’re talking about is at a price below the current market price, they say it’s at 67 cents (which is where the stock was about a week ago, immediately prior to the Brexit vote — it’s around 73 cents now), so that’s perhaps interesting even though that might not be cheap enough to be compelling enough to tie yourself to a private placement, which often comes with other strings attached (minimum holding periods, etc.) What is more compelling is that they indicate that their private placement also includes a “free” warrant — and warrants are where early-stage resource investors really get their big upside potential.

A warrant is essentially just like a call option, though they’re not as standardized and they don’t always trade on the market (some are listed, many are not) — a warrant gives you the right to buy a stock at a set price (the “strike” price) anytime before the warrant expires, sometimes with additional conditions or rules for exercising the warrant.

As a quick aside, if you do own warrants pay close attention to them when expiration comes closer — unlike with options positions, your broker is unlikely to act on the warrant on your behalf or notice that it exists, and even an “in the money” warrant can expire worthless if you don’t take action. Even if the stock is above the exercise price and the warrant is very valuable, if you don’t proactively sell the warrant or exercise it that valuable warrant can become worthless on the day after expiration.

Ward says that the private placement is being made in 20,000 share installments (so about $13,000, which is roughly $10,000 US), and that they’re being offered out-of-the-money warrants at the same time. So those in this Money Map-arranged private placement will get three-year warrants with a strike price of 95 cents, and you get a half-warrant for each share you buy (so a tranche of 20,000 shares would come with 10,000 warrants).

First Mining does not have any warrants trading today that I’m aware of, so I don’t know if this probably small tranche of warrants will end up getting listed — which means that getting your value back from them might require actually exercising the warrants at some point in the next three years instead of just selling them on the open market. And I generally love warrants, particularly long-term warrants, because, as you can easily figure in your head, they provide huge leverage — if you have warrants at 95 cents and the stock goes to $2, the warrant is suddenly worth $1.05 and you didn’t pay anything for it.

Is getting in on this warrant worth subscribing to Money Map Project for $4,000? Well, that depends not just on whether First Mining ends up doing well over the next few years (which depends on both their execution and on the gold price… and if gold doesn’t rise for a couple years and they make a lot more deals and issue more shares they could easily see their share price stagnate or drop), but also on the size of the allocation you might be able to get to this private placement. Money Map is really just making the introduction for you, they’re not guaranteeing that you’d be able to buy 20,000 units or 100,000 or whatever of the private placement, and as far as I can tell we’re not told how large the placement is going to be. There are no refunds for Money Map Project, so you can’t sign up and see if you can get in and then cancel if you fail to get some of the private placement, or don’t get the allocation you want.

So we can do some quick calculating to give some perspective, if you like. First Mining Finance is currently at 73 cents, so the value of getting in at 67 cents is six cents per share today. For that discount to make it worth subscribing just for this private placement deal, you’d have to buy 80,000 shares in the private placement (an investment of C$53,600, or about US$41,000). So maybe if you can get that allocation it’s reasonable… assuming that First Mining isn’t available in the open market for 67 cents, like it was a week ago.

I’d calculate that the three-year warrant is worth a minimum of 20 cents, according to a basic Black-Scholes valuation model that assumes 25% volatility, but that’s pretty much as valuable as interpreting smoke signals or tea dregs — it’s worth what you can exercise it for, or what someone will pay for it. If it were going to be a listed warrant, I wouldn’t be surprised to see it trade at twice that level given the current interest in the stock. If we assume that the value is somewhere in the middle of that, perhaps 30 cents per warrant, then that’s 15 cents per share (it takes two shares of the private placement to get a warrant). So to get $4,000 of value out of the subscription, based on just the warrants, would mean you’d need to buy only 25-30,000 shares (well, I guess you’d need to buy 40,000 since they’re selling in 20,000 share tranches).

So if you love the stock and would be willing to commit to it for some period of time, and were going to spend at least $10-20,000 on acquiring First Mining Finance shares anyway, and would find the leverage of warrants to be valuable, it’s possible that the $4,000 subscription would be worthwhile to you IF you could be assured of getting a minimum of something like 40,000 units of the private placement, depending on your own assessment of the value of the warrants. But even if you don’t get any units of the private placement, you’re still out the $4,000 — so that’s the major risk.

I don’t know what Money Map Project‘s track record is at identifying “private” investments — they tried to do something similar with direct investments in oil wells that were recommended by Dr. Kent Moors a couple years ago, and that has presumably been a disaster given the fall in oil prices (I’m just guessing, I haven’t heard what the results were from anyone). Previously they also have run ads indicating that they could get you “pre public” shares or special access to investments, and those ads were much more misleading than this one — so I guess that’s positive (those were the ads from Michael Robinson for getting in “privately” on Stellar Biotechnologies, and getting some special access to the SharesPost 100 Fund).

Whether there will be any deals from Money Map beyond this private placement that have any value, or whether you personally could get access to the private placement, I have no idea… but the placement itself, going by the description in the ad (I’m not a member, obviously, and haven’t seen the terms of the private placement), seems to have some potential if you’re interested in owning First Mining shares. And if you own First Mining already, I wouldn’t worry about this being dilutive — I would guess that the private placement would be quite small, perhaps just a couple million dollars or even less… and First Mining is going to keep issuing tons of shares to acquire more companies if things work out as they expect anyway.

Big picture? The ad cites several arguments for investing in gold, though the one that they keep harping on is the cyclicality — with the tendency of bear markets in gold to create average declines of 44% and bull markets to generate gains of 450%… and, not coincidentally, the current bear market in gold, as of a couple months ago, was down 44.1% from the September 2011 high. Here’s the table that Money Map borrowed from to make that point:
wgcbullbear
(That chart is in the World Gold Council’s first quarter report, which you can see here.)

And beyond that, well, you can make your own call.

My biggest fear for this particular offer, assuming you do find the actual investment in First Mining to be worth your money, would be the potential for either intentional or accidental “bait and switch” — that too many people might sign up and want access to this private placement, and that there won’t be enough private placement units to go around… or that unaccredited investors, for whom this private placement would be worthless, would sign up for an expensive newsletter that offers no refunds, and that might never have a deal that you find as appealing as this particular one. Any comment beyond that from me would be guessing, but if you’ve got an opinion on this, or any experience with private placements engineered by Money Map or other newsletters in the past, feel free to share it with a comment below.


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64 Comments on "“Private Offering” for next “Multi-Billion Dollar Gold Venture” from Money Map"

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modernrock
Irregular
232

Once again, well done Travis!

Bespoke254
Irregular
0
Bespoke254

Sold FFM today at .5775. A dime less.

david
Guest
0
david

maw toronto
mwsnf over the counter
I am in yes

Blind Guide
Guest
0
Blind Guide

Curious that Sprott Thoughts released an interview with FF’s prez Patrick Donnelly yesterday! Must be getting ready to sell more stock!

Paul W
Guest
0
Paul W
I am a holder of First Majestic and looked at First Mining after they bought Gold Canyon. In order for this mine to be built, they need to build a long road, put in a power line and drain a lake. How will the environmentalists or the First Nations ever let that happen? It isn’t permitted and has no feasibility study. It will cost well in excess of half a billion dollars and be many many years (and dilutions) before this ever becomes a mine. Yet all the newsletters pushing First Mining make it sound like most of their projects… Read more »
drmarburger
Irregular
20
drmarburger
Agree, if these properties were so undervalued they would have already had interest for acquisitions or joint ventures, etc. to develop them. Shovel ready? Sure, they are shoveling as much of this crap onto investors as fast as they can. 🙂 Many of them likely have fatal flaws that mean they are unlikely to be economic at almost any conceivable price. Therefore a constant pump required to keep this propped up. The best experts in the industry are not putting their money in First Mining. If you want to speculate on leverage jr. plays, look for ones with quality properties… Read more »
Myron Martin
Author
324
DRAMARBURGER lists some interesting juniors that I also own but he comes across as if he was a better stock picker than the millionaires (multiple) that invested in First Mining. He also by implication is saying that he is smarter than Keith Neumyer who has build two BILLION dollar companies and is highly regarded and respected as a leading executive in the industry. Of course he could also just be implying that was only a fluke and he has now turned rogue and is playing the millionaires and billionaires he came to know in the industry as SUCKERS even investing… Read more »
Bruce Quinlan
Guest
0
Bruce Quinlan
I am really getting weary of MMP and all the other newsletters companies offering the latest greatest at extra subscription prices. Just bought a certain gold stock investment sub. Failed postionss. No refund. The expert says wait while it is quite obvious to all the gold investors horse is out of the barn. Can’t cancel. My opinion is these advisors are not worth what they cost. Many examples. Buy calls in CTL, so many many others. I am a fool investor to trust any of these advisors as you may be. Any of them call Brexit and its impact on… Read more »
drmarburger
Irregular
20
drmarburger

If you are going to buy a newsletter for mining stocks, I suggest you look at Brent Cook’s Exploration Insights. He is a highly respected economic geologist and only recommends stocks he puts his own money into. He was bearish on the mining stocks for several years until about the middle of last year. I only know him by reputation and have never subscribed to his (probably be richer if I had) or anyone else’s mining newsletters.

Andrew
Guest
0
Andrew
I bought some first mining after I figured out who It was that Ward was talking about. I like Neumyer’s track record in mining. The company appears to be on solid ground. Naturally as soon as I bought it it went down 5 percent. I exited the market and placed my capital into a new Haas Avacado Plantation. Now I am looking for ,small home nearby. This is in Panamam. I hope to move there. I am tired of our politics and do not see a decent choice forthcoming in November. So as the saying goes “If you don’t like… Read more »
hullevad
Irregular
15

Gold stocks are being overbought. Brexit? If one follows politics like I do this will turn out good in the long run. GB is so tangeled in that they can only leave by going down the drain. (it will take at least ?10 years to get rid of the common market laws). On the other side EU will have serious problems if they let them go. A compromise will be found. (1-2 years)

Paul W
Guest
0
Paul W
Travis, I completely agree with you. It is possible gold could go down but I don’t think it will go down very much. July is normally a great seasonal time to buy. India looks like they are going to have a good monsoon so that will put money into their pockets. They don’t trust banks and normally buy gold. I think if gold holds above $1270 through July we are off to the races. I am going to buy on any dip. I prefer gold producers and royalty companies. I keep a very small position in speculative juniors. I think… Read more »
Bob Schubring
Guest
0
Bob Schubring
Worth considering here: The US subsidiary of First Mining Finance, a Nevada corporation, could issue a private placement under Regulation A, to US investors, for up to $50 million, and could legally include non-accredited investors among the buyers, under the recently-revised Regulation A that was mandated by Congress in the JOBS Act. There is a lifetime limit to how many times the subsidiary can do that, under Regulation A, but still, $50 million is $50 million. The advantage for First Mining would be to use a single large Regulation A raise, to amass enough shareholders, to be able to re-list… Read more »
schubrrw3212
Irregular
43
After carefully reading through the Money Map Press sales pitch, the Accredited Investors Only language appears, but only after multiple pages of gobbledy-gook. This is probably going to alienate some readers, because they won’t want to waste their time, reading what looks like bibble-babble from pathological narcissists in an institution somewhere, for pages and pages, just to learn that they’re prohibited by law from taking the deal. It may attract others…readers who know an accredited investor and hope to distill down these pitches and deliver them for a finder’s fee of some sort. which will make it interesting to see… Read more »
Robert
Guest
0
Robert

Does this include a free drink?? If this is that involved and it takes pages of disclosure, etc. it probably won’t end well for investors. Self dealing anyone?

Dave
Guest
0
Dave

I have no interest in this MMPress deal, but I have noticed that another publisher, Weiss, Inc., has also been pushing more esoteric investments, the latest being Larry Edelson’s “Gold Mining Millionaire” which he claims will specialize in junior mining warrants. They have been selling option services in the last couple of years, too, as a way of amplifying the appeal to greed.

backoffice
Irregular
177

I don’t get it. If you look at cumulative returns your money should be in gold because the gains in bull markets are much greater than the looses in bear markets, what am I missing here?

kevin1234
Member
0
kevin1234

Stay far away from “Money Map” products…they are snakes and fraudsters!

Karl Bergklint
Guest
0
Karl Bergklint
I purchased Money Map Project 2 years ago when oil was over $100 per barrel. Kent Moors made it sound so good that I couldn’t get my money in soon enough. Well, that would have been awesome when oil was $120 a barrel. When it is below $50 (or in the $20’s and $30’s like it was recently), my $67,500 investment has returned only $4300 so far. I think it will improve as oil prices rise but I am not holding my breath! I think gold is on a better track so I may try this one to even the… Read more »
chappybrown
Member
0
chappybrown

I don’t understand: my e-mail from Money Map Report said, “The private gold play that only you can access”, so how did Travis find out about it?

Myron Martin
Guest
0
Myron Martin
I don’t know whether Travis invested in First Mining because of my original write-up. but you cam check the archives to see when I first mentioned it. For me as a non accredited investor who got in early at a low price paying $4000. to save 6c on a stock even with the warrants would simply make no sense. Stocks like this can be very volatile so simply adding to my stake on any price dips is the way to go as long as its progress remains positive and the precious metals sector remains the place to be as it… Read more »
gpeng
Irregular
0
gpeng

Even as an accredited investor I like your advice

s b
Member
4
s b
Posted this before – Money Map Project One was Always going to be a disaster for participants, regardless of oil price …… Money Map Project One violated ALL TEN of the Mr. Moors’ purported 10 requirements for investing. The pap in his marketing nowhere is backed up in the PP documents. The documents, if you bother to actually read them are very transparent. It is quite clear that if you invest, they will take all your money and might some day give some of it back to you. To start with they will take 25% of your money and put… Read more »
william kobin
Guest
0
william kobin

Travis:You are owed a great deal of gratitude for your in depth analysis of this
MMP private placement offering. Best advice I ever got was from an antique dealer trying to sell me an expensive item “when in doubt,DON’T”
A grateful GS subscriber

Bill

Myron Martin
Guest
0
Myron Martin
The cynicism here is so thick you could cut it with a knife. I admit I don’t have a lot of faith in Money Map Press, but that dosen’t mean that anything they say is automatically bad, each situation has to be judged on its merits. Keith Neumeyer has one of the best track records in the precious metals business and when other multi-millionaires like Doug Casey, Eric Sprott, Rick Rule, and Marin Katusa make major investments in a new project he undertakes with a big commitment of his personal money. and when he has already built BILLION dollar companies… Read more »
bludolphint
Irregular
98
Excellent points . I agree this stock has pretty impressive backers deserves some personal investigation despite the dubious people at Money M. They and Agora and Stansbury Research have pretty close ties and over the years they have become a little more fast and loose with the facts. The best one I came across was Chris Mayer. He was too good in fac t; the founder of some of these letters, Mr. Bonner pulled him away from his letter which was what I thought a good investment letter should be, (100x baggers), in less than a year after he started… Read more »
s b
Member
4
s b
Myron I have wasted entirely too much time debunking various deceptive production from MMP to ever give them the benefit of the doubt that “sometimes they might be right” or to believe anything they say without verifying it first. There are two issues here. The sensibility of the underlying investment and the use of this placement to make such investment. As for the second, I would stay a hundred miles away from any investment process which includes MMP. Go directly to some of the knowledgeable broker folks you spoke about and work through them. As for the first topic –… Read more »
bludolphint
Irregular
98
Bingo! Travis, you described the land “bank” perfectly. It coincides with Sprott this week. He was writing about the whole situation a couple of times. I think you are right about the “private” placement, it’s probably like KLH. Same wording as KLH last year. You will recall that it was waiting to get on the Nasdaq.(How is that a private placement?) It did happen eventually. It hit $10 a share. That was about a year later. I think they are crossing some legal line saying that KLH and this “bank” stock are PP’S. I think they are baiting people to… Read more »
Myron Martin
Guest
0
Myron Martin
In response to SB: What part of “each situation must be judged on its own merits” did you not understand? I could care less whether Money Map Press jumps on the bandwagon on something on which I have already done my due diligence and made up my own mind, in fact I have seriously considered unsubscribing from MMP and notified them if they don’t stop spamming me with 3 copies daily from different analysts ,(one of which I used to like)I will unsubscribe. Should it not be obvious that I DO rely on the numerous people already mentioned for guidance… Read more »
bludolphint
Irregular
98

I am interested in Mr. Martin’s thoughts on Fortune Minerals, and Formation Minerals as early stage Cobalt companies to fill the gap for Lithium batteries?
Each has about 10% of the world supply in the ground. Formation has their stuff in Idaho, but they are both about the closest supply to one GIGAfactory.

Griffin
Irregular
1049
Griffin
Timothy I had a position in $FMETF up to last year, I’m not familiar with Fortune Minerals. I looked at my spreadsheet of Myron’s stocks and I don’t see Fortune or Formation on the list. I did go to Formations web site to sign up for their newsletters again. While there I notice that they are saying Hedge funds are buying Cobalt I’ll have to look into that some more. I got out of Formation because their new mine for Cobalt was not going to be opened at was then the Cobalt metal price. Now might be the time to… Read more »
s b
Member
4
s b
Myron really? that’s where you want to go? questioning my ability to read? Ugh 1) While I am all in favor of judging a case on its merits, in this case one has to spend $4,000 to examine the actual merits of the placement in hand. And similar materials in the past requiring such payment have been at best blatantly deceptive and at worst fraudulent in so far as being descriptive of the ultimate placement documents. My suggestion was to contact Sprott, for example, or any of the others experts you mentioned directly for their current advice on the stock… Read more »
alanh
Member
4036

Hmm?….Im sure there must be less abbrasive ways of saying this. Let me consult Google…..

Paul W
Guest
0
Paul W
Marin Katusa and Casey were deadly for my portfolio. I subscribed to their energy newsletter and did exactly what they said. I never had any solid success and could never get in or out at their price targets. I felt I was being used by them. It took me a long time to figure out how they operate. Casey was absorbed by Stansberry but Katusa still lives on has his people who have already bought into the PPs like Curzio helping him out. The whole thing is far too much like a Ponzi scheme. The first ones in make money,… Read more »
Ned
Guest
0
Ned

Consider platinum mining stocks. Less hype than gold with room for growth.

Shazam
Guest
0
Shazam

If you like Gold IMHO go with these 3 stocks: HL , ABX and AUY .

Myron Martin
Author
324
I am with you on 2 of them and while there is no question Barrick is a #1 gold producer (ABX) they have far to much DEBT for my risk tolerance and management has made too many mistakes. In fact I feel they are far more interested in feathering their own nests then they are in rewarding shareholders. I see them as having an “entitlement mentality” ever since they gave an $11. MILLION signing bonus on hiring a new executive which I consider ludicrous, in short I simply don’t trust them. I might consider options in a rising bull market… Read more »
winner1
Member
0
winner1

I am a Lifetime Passport Member of MMP and I have personally made it known to Mike Ward That I really dont like the fact that Money Map Project and Micro
Energy are not included in my so called All Inclusive Membership. Every time that they come up with a new idea, and create a new subsscription, this just dilutes the actual value of my membership. I am stii working on this with MMP to provide me with an actual all inclusve Membership.

JJ

Myron Martin
Author
324
Your experience is not surprising, they pretty well all do it. They make promises they don’t keep when circumstances change from their viewpoint. I have a lifetime membership with Agora and they pulled the same trick on me using the excuse that a particular new newsletter was too exclusive to have thousands of readers because the stocks covered were too small. When I persisted they finally offered me a one year complimentary subscription too shut me up. a partial victory, but it still does not honour their pledge of “everything we publish for life.” It is like moving the goal… Read more »
t_w_mackie_jr
Member
0
t_w_mackie_jr
Being a small-time investor, I find plays such as this quite dubious. I put my full faith in the Money Map Organization (Robinson & Moors), and got burned both times. Just because you pay a hefty price for their subscriptions doesn’t mean squat. It just means they are better scammers. To think that they were above doing the “pump & dump” routine was my error. The Stellar Bio-technologies scheme should have won some kind of Oscar. The literature I received had to cost them dearly, however the “pump” worked – for me. That was a tough lesson regarding my finances.… Read more »
bill
Guest
0
bill

FFMGF looks like to me that debt is greater than cash on hand which is just over $1 mil. would be a warning sign for a stock that hasn’t been around that long.

Griffin
Irregular
1049
Griffin

I’m wondering how much this applies to a new company that buys assets/inventory to resell and at the end of of a Bear market going into a Bull. How would you tell if they are over extended for the current market. Something definitely to keep and eye on.

Joe
Guest
0
Joe

Got an email couple hours ago that money map is pulling its recommendation on First Mining Finance they said that at the last minute First Mining changed the terms on the whole deal has anyone else gotten this e mail? Thx Joe

tom Breznau
Guest
0
tom Breznau
Thanks so much for this made over 20% so far in less than 2 weeks, thought you would enjoy their cancelling rec and why! Dear Sure Money Investor, One of the most important things I’ve learned in my three decades as an investor is that you have to have the ability to change your mind when the facts change. Recently, I recommended a private placement investment in First Mining Finance (FF.V), based not only in my belief that gold is going to rise sharply in price in the next few years, but also based on the favorable terms of the… Read more »
rubberfooter
Member
0
rubberfooter

I received an email from Michael Lewitts of Sure Money Withdrawing his recommendation to invest in First Mining Finance:
“….
Over the weekend, Neumeyer and Donnelly decided to change the terms of the offering and raise the price paid by investors from the agreed-upon CAD 67 cents per share and 95 cent warrant price to 80 cents per share and $1.10 warrant price. Why? Because FF.V’s stock price had increased…..”

microcapwiz
Member
5
microcapwiz

thats really poor taste to do that. in any event there looks to be multiple opportunities of multi bag potential junior miners still out there. a favorite is aurvista that incidentally moved a great deal the other day. still like Northisle for the mining side and noka resources on the lithium side. key is management and asset and all 3 have them. good hunting

tgjames
Member
5
tgjames

Is there anything current on this? Last posts were in mid-July 2016…..

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