Lookin’ For Gold in All the Right Places

When I was at the Vancouver Resource Investment Conference recently, I had a chance to sit down with Darin Wagner, CEO of Balmoral Resources (BAR on the TSX-V, BALMF on the OTC in the U.S.)

Watch this video I filmed of our talk, and you’ll see why I think this company has great potential …

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(Link to video: http://www.youtube.com/watch?v=mcjFSPpRxeE)

Some of the highlights of that video …

  • Balmoral’s management has successfully built and sold a company before.
  • It controls just about 50 miles along a trend right next door to what is going to become the largest operating gold mine in Canada — Detour Gold.
  • The company has made a series of high-grade gold discoveries. The company has five high-grade zones it is drilling on. This removes some of the risk. All those zones will feed one mill.
  • The company is doing nearly 25 miles of drilling through September.
  • It has $17.5 million in cash in the coffers. And for every dollar Balmoral spends, it gets 35 cents back from the Quebec government — which is more money the company can spend.
  • Other companies in that area of Quebec are being picked up through mergers and acquisitions. This too could eventually become a takeover candidate, and typically those kinds of deals involve the acquirer paying a nice share-price premium to buy out existing investors.

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The so-called "Golden Cross", an investment phenomenon…

It has made thousands of otherwise ordinary investors profoundly rich over the last 60 years. In fact one couple were able to turn $50,000 in savings from their teaching jobs into generations-worth of wealth.

But the timing must be right—and the nature of these investments is such that the opportunity is only available at certain times, under very specific economic circumstances.

Like now. Click here to learn more.

External Sponsorship

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Balmoral is next-door neighbors with Detour Gold, and its property sits on a trend that has already dished up a series of high-grade gold deposits.

Balmoral raised a bunch of cash through expirations of warrants. It has more warrants coming due: 120,000 in March 2013 at $1.25 a share, and 348,000 in October 2013 at $1.15 a share. It would behoove the company to get its share price above those prices before those expiries.

The company has also issued more than 3 million warrants. The bulk of them expire in late 2015, with the rest in mid-2016. If this is a trade you decide you want to make, you’ll want to keep those expirations in mind.

Balmoral has a market cap of $88.75 million, and 77.8 million shares outstanding. It has a bunch of holes that should be reported soon; they were delayed due to “inconsistent” assay results that had to be sorted out.

The company’s plan is to be bought out before 2016. That seems like a workable plan, but the company has to report good drill results and expand its resources to make it a real possibility.

Now, let’s look at a weekly chart …

(Updated chart)

Looking at a chart, it sure looks like the company is tracing out an inverse-head-and-shoulders pattern, and is in the process of hammering out the right shoulder now. If it can close and confirm above the neckline, it should go much higher.

Of course, a lot will depend on the price of gold and market conditions.  This is on my watch list. If you’re doing this on your own, do your own due diligence, and be very careful.

Yours for trading profits,

Sean

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Sean travels far and wide to seek out small-cap values in the natural resource sector. His journey started in New England. As a youth he worked on Mt. Washington, on the cog railroad that runs to the summit.