My top stock pick for April has been Pacific Ridge Exploration, which trades as PEX on the CSE and PEXZF on the US OTC. The stock has gone up substantially this month and is up 10% so far this morning despite a big down day in the price of gold this morning. The reason is simple – the company’s prospects.
This morning before the opening bell the company announced that it had raised $1.5 million from Crescant Capital, a global macro asset management firm headquartered in Denver, Colorado. Crescat’s mission is to grow and protect wealth over the long term by deploying tactical investment themes based on proprietary value-driven equity and macro models, in order to to provide funds for a 2,500-metre diamond drill program at Pacific Ridge’s flagship Kliyul copper-gold project, located in British Columbia, for exploration on the Company’s other projects, and for general working capital.
“I’m thrilled that Crescat has recognized Kliyul’s potential,” said Blaine Monaghan, President and CEO of Pacific Ridge. “Importantly, the lead order from Crescat means that the Kliyul drill program is now fully funded. We look forward to the drill turning sometime in July.”
Crescat is advised by its technical consultant Dr. Quinton Hennigh on gold and silver resource companies. Dr. Hennigh became an economic geologist after obtaining his PhD in Geology/Geochemistry from the Colorado School of Mines. He has more than 30 years of exploration experience with major gold mining firms that include Homestake Mining, Newcrest Mining and Newmont Mining. Recently, Dr. Hennigh founded Novo Resources Corp and currently serves as Chairman. Among his notable project involvements are First Mining Gold’s Springpole gold deposit in Ontario, Kirkland Lake Gold’s acquisition of the Fosterville gold mine in Australia, the Rattlesnake Hills gold deposit in Wyoming, and Lion One’s Tuvatu gold project on Fiji, among many others.
This financing was done at 15 cents a share with a 1/2 a share warrant at 23 cents. The fact that this was done at 15 cents tells me that the rally has been bought into by institutional investors and one can consider this a good entry point for future prospects in the stock and company news.
Disclosure: Mike Swanson owns shares of Pacific Ridge Exploration. Because Pacific Ridge Exploration is a small cap stock with a market cap of less than $100 million he has put himself in a trading blackout on the stock and will not buy or sell a share of it for at least 30-days from the date of this post (04/05/2021). Wallstreetwindow.com, is owned by Timingwallstreet, Inc., which is being compensated by a third party (Leadgopher LLC DBA Pinnacle Ad Network) to conduct an investor awareness advertising and marketing campaign for Sonoro Gold Corp. This third party paid Timingwallstreet Inc., $16,000 to produce and disseminate this and other similar articles and send traffic to them through paid advertising campaigns for 30-days from the date of this post (4/05/2021). This compensation should be viewed as a major conflict with our ability to be unbiased, more specifically: This communication is for entertainment purposes only. Never invest purely based on our communication. For more on trading risks read our policy statement by clicking here.