Jennifer's avatar
$25.9m follower assets
Portfolio Update: 2023's been busy so far...
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January has been an incredibly busy month so far in the junior mining sector. I will be headed to the Vancouver Resource Investment Conference this weekend and am looking forward to attending the Metal Investors' Forum as well.

I don't believe in posting about companies here on Commonstock unless I have "skin in the game". I thought it was time I provided an update, as I'm still unable to link my portfolio due to tech difficulties with some Canadian brokerages.

Atex Resources [$ATX.V](/asset/ATX.V_:equity)

I wrote about Atex in late May (link below) at which time the share price was $0.73. Atex reached a 52wH today of $1.09, closing at $1.04.

Additional drill results are anticipated over the next few weeks and I think this one could be my best performer of the year.


Atacama Copper [$ACOP.V](/asset/ACOP.V_:equity)

I first mentioned Atacama in my August copper speech to the COM and have been accumulating since last summer. At the time of my October 25th post, the stock was trading at $0.18 and closed today at $0.185.

I have spoken to CEO Tim Warman via email, and I would encourage anyone interested in the company to do the same. Tim has earned his excellent reputation and is quick to respond to shareholder inquiries. $ACOP.V is still one of my favourite copper juniors and I am expecting some significant developments over the next 12-18 months.


Barrick Gold [$ABX.TO](/asset/ABX.TO_:equity)

At the time of my Dec 15 post, Barrick closed at $22.76. Today's close was $25.69. I am excited about this planned long term hold as they develop the Reko Diq project and add to their copper portfolio.


Adventus Mining $ADZN.V, Lumina Gold $LUM.V, Luminex Resources [$LR.V](/asset/LR.V_:equity)
(my Ecuador triple play - see below for recent update)

Raymond James released a price target for $ADZN.V today of $1.50 with an "outperform" rating. All three stocks continue to perform well, and Ecuador's President Lasso continues to move the mining industry forward at a fast pace.


Amaroq Minerals

When I posted about Amaroq on Oct 4, the share price was $0.57. Amaroq closed today at $0.73. Strong inside buys and steady positive news flows keep me hopeful this Greenland mineral play will accomplish remarkable things.


Bathurst Metals Corp

Still anticipating potentially "eye-popping upside" for this Nunavut nickel. $BMV.V closed at $0.088 at the time of my original post and today's share price was $0.105.


My Copper Crunch Companies - $NGEX.V $TM.V $FDY.TO $SURG.V $VCU.V (Atacama & Atex already discussed above)

Recent months have seen strong volumes on all of the above picks. They all continue to perform well, though SURG has been somewhat of a laggard. Vizsla Copper made an interesting acquisition of the Woodjam property, and NGEX is expected to release drill results soon (the first of several phases). Faraday continues to produce excellent results and I continue to hold all of the above.


Copper Majors Update (prices at time of Aug 23 copper speech & current)


Freeport-McMoran then $31.79, now $44.95
TECK then $46.72, now $56.66
First Quantum then $25.66, now $30.24
Ivanhoe Mines then $8.96, now $12.45

I sold First Quantum just as news was breaking re Panama govt's shutdown of the mine but continue to hold the remaining three companies and intend to long term as copper fundamentals continue to be strong.

Itafos [$IFOS.V](/asset/IFOS.V_:equity)

Thought somewhat of a disappointing performer, Itafos still has a bright outlook. The fertilizer sector has been a difficult one to follow this year, as the war in Ukraine brought many share prices to ATH's and energy prices were a force to be reckoned with. I still hold all my IFOS and remain hopeful for Raymond James price target of $5.25 but I may trim my position and move some to a junior gold mining company in Australia, as I believe the risk reward potential there is likely higher.


Canadian Manganese Company

$CDMN.NE continues to be one of the most volatile stocks I own as it trades on the NEO. At the time of my June 21st post, the stock closed at $0.205 and today's close was $0.18. I have gotten used to the volatility here and plan to hold as manganese fundamentals remain strong (see post below).


The GOAT's Ivanhoe Electric

Robert Friedland's IPO $IE.TO continues to reach new heights. Closing at $13.09 as of my Aug 26th post, it's now climbed to $18.30 as of this one. With vanadium, tech, and battery metals, the GOAT looks to have another success on his hands.


Lithium - Acquisitions and All Time Highs

Arena Minerals was acquired by LAC in Dec of 2022 and I sold my shares at a price of $0.61 (average was $0.47). I also sold my Frontier Lithium, though I am still a fan of the deposit and the company. My preference was to begin moving more to copper and other battery metals.

I still own Patriot Battery Metals and Brunswick Exploration, both of which reached all time highs today. Lithium continues to be a hot sector but I'm expecting it to cool a little in 2023 as more supply comes online.



SPC Nickel [$SPC.V](/asset/SPC.V_:equity)

SPC was halted early this morning prior to the company announcing an agreement with Vale to consolidate ownership of the West Graham and Crean Hill 3 Ni-Cu Deposits, in Sudbury, Ontario. The stock closed up 20% today at $0.12 (my average is $0.07)


Sibanye Stillwater [$SBSW](/asset/SBSW_:equity)

I first wrote about Sibanye Stillwater back in June. The share price at the time of my post was $11.70. After a difficult 2022 that included flooding, a lawsuit, and union action in South Africa, SBSW appears to be back on track. I recently sold my shares to add to my $YPF but am looking to re-enter at what I consider is currently an attractive price ($11.45 close today). The company is seeking to add more battery metals to its portfolio, but I believe the platinum group metals are the best way to play anticipated growth in the hydrogen sector.


Vanadium on the Rise

I'm expecting 2023 to bring significant growth in VRFB production. Vanadium prices have risen steadily and so have my holdings. Strategic Resources recently announced an exciting merger with Blackrock Metals and the stock remains halted.


I have written about vanadium numerous times but if you're new to the metal, then the link below should serve as a good introduction.


Whitecap Resources [$WCP](/asset/WCP_:equity)

The May 24th close on WCP was $10.24 and today's close was $11.40. Whitecap was punished by the market for its acquisition of XTO but I have no doubts that it will pay off incredibly well in the future, and many analysts agree. With an increased dividend and debt reduced substantially in 2022, the outlook for this energy giant in the making continues to be a bright one.


YPF Sociedad Anonima [$YPF](/asset/YPF_:equity)

YPF closed at $6.60 as of my October 12th post and today's close was $11.98.
I'm expecting continued growth here, as large scale investors see the potential in Argentina's Vaca Muerta and infrastructure is completed.


I believe this covers all the companies I have discussed on Commonstock since my Sept 10th update (https://commonstock.com/post/70372812-5c75-40c0-91a4-bf233deae43e).

If I missed any or if you have any questions, I am always happy to respond.

Wishing all my fellow investors much success as we carry on in 2023...

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Elliot Dodson's avatar
Great update Jenny and some insane recent performance in a bunch your names, everyday must feel like Xmas. I'm looking forward to ngex drill results.

Struggling not to fomo atex..
Jennifer's avatar
@elliotd Attended the ATX investor lunch today, happy to DM some info :) Thank you, it's been a good month so far - praying it continues but I am very bullish on metals in 2023!
Conor Mac's avatar
Incredible write up Jenny, thanks for the transparency!

How do you manage to keep on track of all these sectors?
Jennifer's avatar
@investmenttalk Thanks Conor - I am fortunate to do this full time. I did see a wise person on Twitter post that you shouldn't own more than 5 junior miners and that's excellent advice if this is not your full time job. CEO.CA is an immensely helpful free site for me. I add all my companies to a watchlist and get alerts on news and SEDI filings very quickly.
Would be interested to hear your thoughts on the Graphene sector.
Jennifer's avatar
@benjaminalbers That one is a long and complicated answer Benjamin. I did own $GRA.TO sometime but lost patience with it, I'm afraid - still believe in the company but just felt more certain about other sectors. Graphene is a hard one because there are some very questionable companies out there, one in particular that I see frequently pumped on Twitter. I would be happy to look into it further if you had a specific company in mind?
@jennymanydots Interesting. Graphene was brought to my attention by a friend of mine. Haven't purchased anything, I was just wondering what you thought of the sector. What I heard seems to be consistent with what you mentioned... questionable companies.
Joey Hirendernath's avatar
Great portfolio update Jenny, if you had to pick a name that you most enjoyed keeping up to date with which would it be?
Jennifer's avatar
@joeyhirendernath I'm very excited about Atex Resources (copper in Chile) and Brunswick Exploration (lithium in Eastern Canada) right now. Sorry, when people ask me for one I say it's like asking a mother to choose a favourite child lol. Both companies should have steady news flow over the first half, and lithium and copper are on fire right now!
gubbeen's avatar
Most investment thinking, analysis and chatter is about the potential for reward relative to the degree of exposure to risk.

Jenny, you make it quite plain to see that the appropriate equation isn't 'reward in relation to risk', it's 'reward as consequence of work'. It's humbling, inspiring and daunting, all at once; in short, it puts responsibility for my middling results squarely where it belongs and makes plain what to do about it.

Those of us who have wandered over to the little campfire you keep lit are lucky not just for the industry intel s'mores you churn out, but for your personal warmth and openness.

Quite a 'high grade core' you have there, Ma'am.
Jennifer's avatar
@gubbeen You just brought tears to my eyes, thank you :) You're a pretty awesome person yourself Gubbeen...
Joshua Simka's avatar
Hi Jenny, you mentioned a couple price targets by Raymond James. Do junior miners like these have much of a Wall Street following and how reliable are the analysts' targets and estimates typically?
Jennifer's avatar
@tomato That's a great question, Joshua. When you say a "Wall Street" following, are you asking about specific analysts? There are a number of firms that cover them and most provide a link to analysts on their websites. Some research reports are questionable, but a few provide fairly reliable analysis. Desjardins is one but many people refer to Sprott: https://sprott.com/what-we-do/resource-financing/capital-partners/research/

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