IKN

a plague o both your houses

Trading Post (happy birthday Otto’s brother edition)


Nadagold (NG) up 8.5% at $2.80. For the record, I covered my short at $2.70 this morning making money on the $3.70 and $3.02 sales. I wanted to book profits and keep unfettered cash levels bouyant after the CZZ purchase. My view of the company hasn’t changed one iota, just some practical port mgmt in the face of a possible short term rocket in the gold price.

Dynasty (DMM.to) up 5.3% at $5.17. Dynasty has had a great few days since I last mentioned it ‘in limbo’. Here’s the five day chart……

…and note the big rebound started the moment CEO Washer appeared on BNN as part of the PDAC festivities. Here’s a link to the interview and it’s worth a couple of minutes of your time. Washer is not a TV natural but he does a good job all the same, especially the way he whacks viewers over the head with the compelling arguments of DMM.to as an investment in the first few seconds. Remember I own plenty, so accuse me of drumbanging if you like. I don’t care. It’s a great stock.

Vena Resources (VEM.to) up 8% at $0.195. Volumes have been tiny but since we noted it at $0.16 the other day it’s up over 20%….and 20% is 20%. I’m still waiting for NRI’s views of the Vegarra encounter but I know that our superspy was impressed. Otto likes VEM.to for its long-term prospects, that’s for sure.

Metanor Resources (MTO.v) down 17% at $0.465. The downside risk of investment in these small juniors captured by the action in Metanor today. As much as I might like the project and the “story”, if management announces a heavy dilutive placement in the way MTO.v just did this morning (details here) the stock dumps and severely annoys shareholders. Juniors are high risk and high reward…we all know that. All in all a really pissy decision by mgmt that had recently been to market.

Troy Resources (TRY.to) up 4% at $1.05. I’m tempted to add but again somewhat in limbo. I still want sub-loonie as an adding point, but on the other hand I own loads already. Still my 2009 top pick.

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