Nickelex Resource Corp V.NICK

Update from Livramento.

[OldGold]

       It has been a little while since I have had an update from the guys at Livramento. Although I have had a few connection problems as I have been getting around a bit, so that has not helped.

       I have just had a great visit to the DRC and went through a very undervalued gold project there and posted my first video form that visit a few days back. It has had big response.

         For the last few days, I have been sitting around like an empty bottle in Swakopmund, waiting for a visit to a copper mine. It is the middle of the day here and have spent the morning putting a video together from Richard at Valterra’s Livramento project. They have been busy getting the mine up to scratch, it is a big difference in running a mine as a “hobby” as it was, to running it as a TSX listed company. Every box needs to be ticked, no shortcuts.

     Richard has been away for a week or so attending to other business, but he is back now and sent me a few videos to let us know what is happening. If you remember, a few weeks back, they opened a high-grade section that had been previously mined by the Garimpeiros. They could not dig straight in, as the pit wall is high and posed a high risk of the failing. Stripping of overburden is being carried out now, and should be finished later in the week.

     The plant has had a little hiccup due to a bearing failing that was difficult of acquire, but all running now. The pit is running seven days a week, day shift only, as at this time of the year it rains most nights, making it impossible to mine at night. When the weather settles down, they will be running 24 - 7 in the pit and at the plant.

    A gold sale must be close as well, not sure on the TSX rules regarding reporting these things though. Check out my video if you have time, I have a new opening :-) …

[mferguson71]

Great post OldGold. One thing I have saw as a familiar trend in doing alot of dd on all sizes of companies in the mining industry is that there seems to be delays on paperwork when working with the exchanges. Covid has definately impacted efficiently on the exchanges side of things as I have heard this concern on many fronts. I would suspect this has impacted the much anticipated news flow from

[GoldenEra]

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[Lockstock1]

Good update - seems like things are coming along nicely since I visited. Think this is way undervalued for the size of the properties and what they're currently pulling out of the ground. Once reporting on the tsx starts I expect to see a big change in the price.

[Scorpio2]

What are you talking about?..."once reporting starts on the tsx" . I wish... this trades on the venture and orders need to be phoned into your broker if you are using TD, possibly the same with other Canadian brokers. Pretty mickey mouse.   

[Canada300]

what are you talking about?? There have been several folks mentioning on here that they've had no issues procuring this stock.I mean, other than volume. I use QTrade, haven't had to call anyone and made a few purchases over the last few months. And, as far as the Venture goes, there are reporting requirements for it too.  My main concern is the delay in announcing any production from

[Goldenhope]

thats funny scorpio excuse me but you must have a shite setup it will be very frustrating for you to watch the price rise and not be able to buy! really? i have no trouble but usually get my people to talk to their people when i need some do you need a name or contact to get your setup good to go? better get onto it before the gold pour....

[Scorpio2]

Don't worry...I've got my position but it was painful to accumulate. Every trade had to be done over the phone with TD. The issue must be with them as there are other brokers from the sounds of it that don't conduct trading this way for this particular stock. It's the only stock I own that has to be handled this way through TD Waterhouse.

[mferguson71]

This is something that I will be making sure I look into. I have 2 different web brokers and none of them have been an issue. My third happens to be TD but haven't tried anything with VQA in that account. I will be making sure to inquire why TD is this way and others are not. 

[ggrellette]

The stock trades on the GREY MARKET and is bought through the TSX Venture exchange. TD waterhouse when i asked that is what they told me. The GREY MARKET is extremely manipulated and VERY poorly monitored by regulators. TD basically said it was doing this to provide transperancy.

[Canada300]

no, this stock trades on the Venture, according to SEDAR: Valterra Resource Corporation Mailing Address: Suite 1100, 1199 West Hastings Street Vancouver, British Columbia V6E 4T5 Head Office Address: Suite 1100, 1199 West Hastings Street Vancouver, British Columbia V6E 4T5 Contact Name:

[Scorpio2]

to support your observation Canada 300, I did get the following response from Valterra from which I am currently relying upon. I do however still have some concerns from a legal perspective as to the registered investment status under Canadian tax rules for Valterra because although the stock is listed on the TSXV, (which appears to be the operative qualification for registered investment status

[ggrellette]

It trades on the OTCBB which is also known as the GREY MARKET but you buy it through the Venture exchange. Thank you for posting this and verifying what I said. Sadly that is why TDWaterhouse blocks you from direct trading because you will then ask why and they will tell you otherwise you r left to decipher yourself and yes many believe it trades on the venture because you buy it through the

[MacRellen]

Well, according to TSX's own "Listed Company Directory", Valterra is listed on Venture. You can check it yourself by going to their website of listed companies, click the Venture button, write VQA, and press search. https://www.tsx.com/listings/listing-with-us/listed-company-directory Their status is "currently listed". Besides, I wouldn't think you could trade on the

[MacRellen]

So, when ggrellette says it trades on the OTCBB but you can buy it through the Venture exchange, that makes no sense...at least not to me.

[ggrellette]

Let me say that it did not make sense to me either. This is why it is deceitful from my point of view on the way they list it but not ILLEGAL. Strange, but it is reality. My direct trading account with TD Waterhouse will not ALLOW me to place this order in the que. I have to call them directly to buy or sell this stock. When I asked TD directly why? they told me they have had this issue

[MacRellen]

Are you trolling, or are you serious? My point was that YOU are not making sense. You can buy Valterra on TSX Venture, you can sell it on TSX Venture, so it obviously trades on TSX Venture. It is listed on TSX Venture. Unless you use one specific broker (TD Waterhouse), you can trade it via electronic platforms like any stock listed on TSX Venture. So your assumption that the problem is Valterra

[ggrellette]

I guess u do not understand like most ignorant Americans. I said it did not make sense to me but it is a reality. No I did not missunderstand. I am just posting what had occurred when i tried to buy them. The problem maybe Valterra or maybe its TD waterhouse. The Grey market is illiquid because there is a market maker that moves stocks to buy or sell. Furthermore I own quiet a few stocks listed on

[MacRellen]

I'm not an ignorant American, I'm an ignorant Norwegian.

[ggrellette]

Okay

[MacRellen]

However, ggrellette, I do agree with you that this is a high risk stock, and that it resembles many OTC stocks in that way. And I believe that is why Waterhouse requires trading by phone, in an attempt to (appear to) protect their customers. I don't believe they should, though. Valterra is trying to produce without any feasibility study or even a resource estimate, at least not that I have

[ggrellette]

Well MacRellen that is definitely a better response. I suspect since you stated in your response in the first paragraph which you r agreeing now of what I said. I called TDWaterhouse yesterday and waited on the phone for 1 1/2 hours to get a better understanding. To my amazement the TD representative I spoke to told me flat out it was to protect their clients since many complained. Very obvious

[Goldenhope]

So grillit do you feel happy that your broker is protecting you or to put it another way not being honest with you about what you can go with  your money as Mac says no resource no feasibility study just based on historical production surrounding mines  local knowledge and homespun expertise high risk for your average investor sitting in  Toronto or Sydney  but not so high

[ggrellette]

Yes, I am very happy to see that TD Waterhouse as the broker has finally provided some transparency, but sadly only after people have lost money and complained. The broker will always allow u to buy or sell whatever you choose because they make a commission. So if you thought they were not allowing us to buy then you should have keep your thoughts to yourself because you do not know what you are

[Goldenhope]

  ha ha im an ignorant australian i have no trouble trading it from home electronically grillette have you checked your wifi is working  too funny

[GoldenEra]

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[mferguson71]

In my eyes some news would be nice. But it won't change my view on the company. As long as the mill is running I trust the team that gold is being produced. How much is the next question. But once you take a month or two of production and blend it with the other 10 months it doesnt make a big impact. It may give is better educational guesses on estimated production for the year but that is

[ggrellette]

Now that is a lovely looking forward statements. The question is will it manufest itself because right now it has not, otherwise the stock price would not be 8.5 pennies. The market always knows best and us retailers are just dreamers.

[mferguson71]

I agree. It is only worth what the market values it at today. The valuation for tomorrow is of opinion and creates the market. Everyone has a different opinion of what value is. That's my opinion on how value will be increased for VQA. I'd love to hear your opinion ggrellete on how vqa will create value for yourself?

[ggrellette]

I think we both know how value is created. Mgt. credibility(honesty & transperancy), Mgt. execution, resource(high grade material or open pit), location, scale, commodity price, minimal dilution and the studies to illustrate the viability nor the project. I could have missed a few for sure, but I think you got the picture. 

[Goldenhope]

Exactly grillit i have every confidence that we will all be very happy with the company and management for all those reasons

[mferguson71]

Yup agreed. As far as management credibility I think we need to wait until we see the news releases to be able to ask why the delay. We probably won't know why delays until after then. Some patience required for this part. Resource I believe is there but will need to trust management to ensure as there isnt any technical reports. Just alot of open pits in the surrounding area.