Eric Sprott’s HYMC Fills in Christmas Video Gap Up
Eric Sprott's Hycroft Mining (HYMC) has finally filled in its post-Christmas video gap up. Could this be a sign that a bottom is in across the natural resource sector? We have always wondered if banks loan him money based on the value of his HYMC holdings and then he reinvests those funds into private placements. Case in point, Palisades Goldcorp (TSXV: PALI) was able to borrow heavily against its New Found Gold (TSX: NFGC) shares to buy up shares in many tiny copper companies.
Click here to read NIA's March 19th alert entitled, 'Eric Sprott Was Buying HYMC at $45-$50 Per Share LOL'. We explained in this alert that "The largest position of NIA's President by far is the iShares MSCI Brazil ETF (EWZ)" and we had no idea what Eric Sprott was doing buying more shares of HYMC at $45-$50 per share. We said HYMC remained extremely overvalued at $32 per share.
At least CoreWeave (CRWV) is crashing and so is Hydrograph Clean Power (CSE: HG). Both are going to zero very soon.
President Trump is tweeting about Greenland again, but we have no idea why people are buying Greenland Energy (GLND) and Greenland Mines (GRML). We believe these are SPAC scams that will continue to reverse split and dilute through toxic financing. We believe only Energy Transition Minerals (ASX: ETM) owns assets in Greenland that are worth developing.
Viva Gold (TSXV: VAU) is likely to be acquired next. It is trading for only US$50 per oz of gold resources, while Roxmore Resources (TSX: RM) was just acquired for US$75 per oz of gold resources.
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA's President owns a position in EWZ. NIA's President has purchased 3,700,000 shares of ETM and can buy or sell shares at any time. NIA's President has purchased 100,000 shares of VAU in the open market and can buy or sell shares at any time. This message is meant for informational and educational purposes only and does not provide investment advice.