Friday, July 25, 2014

PERMASHAVE DAVE SAYS HE'S NEVER COMING BACK TO THE JUNIORS: he'll be back.


Permashave Dave - the oil patch is nicer to me so I'm never ever getting back into junior miners ever!

Oh my!

Quote:

As a reminder as to why not to invest in the junior mining scene I still have one of Frank's deals (ROY.H) in an account and it is down a whopping 92% and I have some GMV Minerals that is down a typical 95% for a junior. Both deals got rolled back 10 for 1 killing all chances of seeing any return of the equity. (that is how it is done in the junior mining sector).

Hey Rick that is $13,000 that will never hit the junior mining circuit again, poof! And I am not the only one who lost up to 95% of the value in juniors, there are legions of speculators out there with the same returns, never to step back into the ring.

The real money is flowing into the oil patch just ask Tim DeFreitas who took an $0.08/share shell and raised $130,000,000, yeah that is $130,000,000 million that did not make it into the crappy junior mining scene.

You see the oil patch has a reputation of making money for investors who are more than willing to back new projects, the junior mining scene has squandered the shareholders cash on lifestyle companies, hence why the money will not be flowing back into this scene any time soon.

For the record I will keep the losing position in GMV and Royce as a stark reminder to never invest in the junior mining industry again.

I'd like to post the video, but I can't, so here's an animated gif:


He'll be back.


1 comment:

  1. Hasn't permashave heard of a stop loss? Mandatory in junior miners.

    ReplyDelete