RE:No Buyers- No sellers
I bought Eskay in 2019 for 7 cents USD. It began to move in mid-2020 when two things happened. They uplisted the stock to OTCQB and added Quinton Hennigh to the Board. I think he has quite a following. I sold the last of it in March 2022 at $2.68. Since then it's dropped back to $1.05. So it's not immune to the bear market. They bought 19.5% of Garibaldi from Mr. Sprott so they see something there. They have good potential In a good neighborhood of other successful companies like Skeena which will have a good grade when they ramp up Eskay Creek. I don't have any issue with their market cap, and I think the difference is that they had much more aggressive accumulation of their shares compared to the Amigos. I remember when Garibaldi went from about 20 cents to $5 on the hope of a large Nickel Mountain deposit, and Metallis went from 21 cents to $2 just because it was next door. It's difficult to identify the intangibles that result in these valuation differences. I think we live in a very inefficient market that is driven by emotion more than fundamentals. I have brought up the possibility of moving to OTCQB, but can't measure the potential for the SP of that move. On the whole I appreciate the low valuation since I can continue to add shares when cash frees up. Not sure what the tipping point will be that gets the stocks moving again. I suspect when it becomes clear that KSM or Treaty Creek are going to become more active as mine development projects it will happen. I mention KSM because with 170 million oz. of gold plus a pile of copper and no JV yet, it has to bring up a question. Seabridge is horribly undervalued, even more than Eskay would be considered fairly valued at $200 million. At least Goldstorm as a whole is still valued in the $300 million range. When the Amigos were high I took about $230k in gains, by selling about 20% of my current position. Should have taken at least twice that much of course, but I can't time stock sale points to save my life. All I can say is that I'm still happy with future potential. At some point the market will tell me whether I'm on target or not. I'm playing this with house money so there's no performance anxiety (for once).