Today the stock market is rallying and mining stocks are having a healthy advance following a dip in the price of gold and silver yesterday. On the Canadian Venture exchanges shares of Troubadour Resources Inc. (CVE: TR) are trading up over 114% in morning action and millions of shares of trading volume. The stock is one of the top gaining stocks on the Venture exchange today. It has been trading on thin volume between 3 and 5 cents for months, but that appears to be ready to change.
Troubadour Resources Inc. (OTCMKTS: TROUF) is a small cap stock with a market cap less than $2 million CAD. The company today announced a deal to acquire a property for mineral exploration. It stated in a press release that “it has entered into an option agreement with 1218802 B.C. LTD. , an arm’s length vendor (the “Vendor”), to acquire a 100% interest in the 1,766 ha Texas property located in the Greenwood Mining District in Southern B.C.” It has drill permitting underway on this property.
I do not own a position in this stock and am not trading it. The same is the case with Mike Swanson who is the head editor of this website, although he is very focused on small cap mining stocks. In fact his top stock pick for October is a small cap silver play. Mike is concerned about the overall stock market as it is drifting since it peaked in September, but likes the fact that gold and silver are performing better than the S&P 500 this year. He talked about that in this interview.