I told you yesterday that we’d be looking for the balance of the stocks teased by Sean Brodrick after identifying the “Goldstone Strike” picked that he touted (that was Randgold Resources, you can see yesterday’s article and commentary on that one here if you missed it).
So that’s just what we’re doing — there are five stocks to uncover and discuss, so we’ll make it quick and let you get right to your cogitating:
“Gold Pick #2: The Sole Heir to the Largest Gold Fortune in the United States
“In the coming year, the sole heir to the United States’ largest gold strike will tap an estimated $4 billion worth of gold.
“Best of all, you can get a stake in this gold for an unheard of $39 per ounce….
“It’s already used this methodology to grow its resources from 1 million ounces in May 2010 to over 3.2 million ounces today… making it possible for you to pay just $39 per ounce for your portion of its reserves….
“This similar setup will allow the company to make a fortune.
“And so could its investors – like renowned hedge fund manager Ken Griffin, who bought close to $17 million worth of this company’s stock.
“Recently, I stopped by the company’s headquarters and spoke to the CEO.
“In our talks, he revealed the company is scheduled to receive a mining permit that will ‘double its production’ and ‘cut costs in half.’
“As for the potential upside, he said, ‘We’ve just scratched the surface on this project.’
“… you can still get on board for under $2 a share.”
This one, it appears, is most likely to be the company that has consolidated much of the old landholdings of the original Comstock Lode — Comstock Mining (LODE). This was one of the huge mines in US history, producing millions of ounces of silver and gold and creating a bustling den of sin in Virginia City, Nevada decades before Bugsy Siegel and Meyer Lansky set their eyes on Las Vegas.
And no, I can’t be 100% certain because I don’t think Ken Griffin’s Citadel hedge fund owns shares of Comstock Mining — though it had a roughly $17 million position in Comstock Resources (CRK) last year. That’s a much larger oil and gas company in Texas and Louisiana, as far as I know the firms are not in any way connected … but it’s easy for a copywriter to screw that kind of thing up.
LODE is a junior miner, producing gold and silver now and aiming to double production this year and increase it considerably more in future years, we’re told. I don’t know much about them, but Sean Brodrick did publicly mention his visit to the company and his fondness for their prospects in this article last fall. I think the permit they were talking about was a water permit, which they did get, and they seem to be a decent, small miner from my quick glance. I’ll leave you to the research on that one, and we’ll move on.
“Gold Pick #3: Bag 277% From This Tiny Canadian Miner With Over $4 Billion in Silver
“Major news is starting to buzz around one mining communi