What we have here… is a bunch of hopes and dreams… I've been wanting to discuss this little thing for a while and was hoping someone more competent stepped in. I've owned this since April 2018 at a little over .38 cents, I by no means seen a quality investment just at the time was moving around a trading range and I was looking to pick up a large % gain on a few cents of movement, unfortunately I got caught in on the move down, held out hope it would recover and I'd not take as steep of a loss and then ignored/forgot about it, figured I'd take the loss when it made sense tax wise. I'm still here, still excited to exit, but hoping to get more news and ride it upwards.
So the headline holding is of a East Sullivan Mining property that's had a few tests done and that's about it. It sounds like if in production it would be a nice little mine that has some upside, but there is no timeline that I know of for its move forward, I actually think they would like a Junior miner take an interest and develop and they either sell the property or take a royalty. ( I have no proof of this, it's just the feeling I get ).
What else is here, the rest of the holding are various shares, warrants, interests and I believe a lending agreement to very junior miners that I don't believe are yet in production, mostly claim/land holders some of which are testing/exploring what they have. I've looked up a few companies they hold, some are public companies that trade on various exchanges, not all have info on the web. I was hoping to eventually take a deeper dive in and discuss some holdings and info because I'm not sure many people know what this actually is. I myself thought they were looking to go gold mining in Northern Quebec, but that doesn't really seem like the case, some of the holdings are US, Central America and South America. (I noticed stockhouse has altered the info below the name in the past month or so as before it mostly gave info on East Sullivan)
I don't know why there is the upward movement recently other than we got a cash injection to purchase shares and warrants for a new company holding. I do not know if this new junior holding has some upside (I looked at the company and didn't see anything too interesting which made me further question the reasoning) or if it's just a sign of life and people are buying in, I could also see management or anouther holding company eating shares to do something with. Maybe there's some news within a couple other holdings that could have near term upside and some mining insiders are buying knowing something is coming. I'm not an insider or a major follower of mining news tho I do like the potential in the industry and want to hold more juniors that have potential producing various raw materials, but any major news in junior mining is likely miss unless it involves a company I have on watch lists. It seems like if even 1 of these companies went into major production and value shot up that Sullidan would show a very large rise in portfolio value, also many of the warrant options are at very attractive prices with longer term exercise timelines if any of these companies take off inside the timelines. I can see the potential, but at the same time don't see any coming to fruition in my limited awareness.
For me this is a learning lesson in understanding what your buying, and having an exit strategy especially when playing risky games, for others there might be some interesting holding within here.
Anyone with quality info, please share with us, I'm interested to learn or even just hear opinions on this...