25 Oct

Why This Silver Stock Is up 250% Last Week?

October 25, 2023

Source: Michael Ballanger  (10/23/23)

After reviewing the company last week, Michael Ballanger of GGM Advisory Inc. shares his current thoughts on Norseman Silver’s stock.

Phones and email inboxes are inundated this morning with cascading queries about Norseman Silver Ltd. (NOC:TSX.V; NOCSF:OTCQB), which was highlighted 15 days ago on October 3 after I had a conference call with V.P. Exploration Merlin Marr-Johnson, President Sean Hurd, and Chairman Campbell Smyth.

The stock was trading at CA$0.035, and while I was doing my best to pound the table (the way I did in August 2022 with Allied Copper at CA$0.08), these moribund junior mining markets may have tempered my enthusiasm “just a bit.”

As it always turns out, I should have been more animated as the stock has advanced 250% since the CA$0.035 lows of early October and has traded today as high as CA$0.105 on volume of 2.

403,590 shares. Many of you own Norseman, so it was my hope that you could average down over the balance of October, but Sunday’s pop has it on more than a few radar screens, and the Streetwise report that featured NOC on Monday is apparently getting pretty good traction.

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If the company’s big European following (Merlin is in London) starts to get the fever, I see CA$0.20-0.25 before any real supply shows up, so use a CA$0.10 limit to add to the higher-priced positions and get your cost down as far as you can. Norseman is going to be a full-fledged, card-carrying member of the “electrification trilogy” within a few weeks, and that should dynamically change the narrative…

Buy NOC.

Chart courtesy of Stockwatch.com

Fundamental Data – NOC

  • Security Type: Equity
  • Shares Issued: 68,118,157
  • Market Cap: 6,131,000
  • Year High: 0.18
  • Year Low: 0.035
  • Sector: 15104040 – Precious Metals & Minerals

Please see TSX-V for dividend and earnings information.

Norseman’s properties are in British Columbia, Canada, and Rio Negro, Argentina. The four projects in British Columbia are highly prospective of silver and copper mineralization.

Taquetren in Argentina has discovery potential in a mining-friendly district, host to one of the largest silver deposits in the world. The long-term vision is to advance the projects to development.

 

Important Disclosures:

  1. Norseman Silver Ltd. is a billboard sponsor of Streetwise Reports and pays SWR a monthly sponsorship fee between US$4,000 and US$5,000.
  2. As of the date of this article, officers and/or employees of Streetwise Reports LLC (including members of their household) own securities of Norseman Silver Ltd.
  3. Michael Ballanger: I, or members of my immediate household or family, own securities of: All. I determined which companies would be included in this article based on my research and understanding of the sector.
  4. Statements and opinions expressed are the opinions of the author and not of Streetwise Reports or its officers. The author is wholly responsible for the validity of the statements. The author was not paid by Streetwise Reports for this article. Streetwise Reports was not paid by the author to publish or syndicate this article. Streetwise Reports requires contributing authors to disclose any shareholdings in, or economic relationships with, companies that they write about. Streetwise Reports relies upon the authors to accurately provide this information and Streetwise Reports has no means of verifying its accuracy.
  5.  This article does not constitute investment advice. Each reader is encouraged to consult with his or her individual financial professional. By opening this page, each reader accepts and agrees to Streetwise Reports’ terms of use and full legal disclaimer. This article is not a solicitation for investment. Streetwise Reports does not render general or specific investment advice and the information on Streetwise Reports should not be considered a recommendation to buy or sell any security. Streetwise Reports does not endorse or recommend the business, products, services or securities of any company.

For additional disclosures, please click here.

Michael Ballanger Disclosures

This letter makes no guarantee or warranty on the accuracy or completeness of the data provided. Nothing contained herein is intended or shall be deemed to be investment advice, implied or otherwise. This letter represents my views and replicates trades that I am making but nothing more than that. Always consult your registered advisor to assist you with your investments. I accept no liability for any loss arising from the use of the data contained on this letter. Options and junior mining stocks contain a high level of risk that may result in the loss of part or all invested capital and therefore are suitable for experienced and professional investors and traders only. One should be familiar with the risks involved in junior mining and options trading and we recommend consulting a financial adviser if you feel you do not understand the risks involved.


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