Everywhere I look there are breakouts across the junior gold mining sector. From Amex (TSX-V:AMX) to Great Bear (TSX-V:GBR) to Skeena (TSX-V:SKE) we are seeing powerful thrusts to new 52-week highs, and in some cases, all-time highs:
AMX is breaking out to all-time highs on the back of high-grade gold drill results from the Eastern Gold Zone on its Perron Property in Quebec.
Banyan Gold is moving to multi-year highs on the back of a maiden resource estimate for its AurMac Project in the Mayo Mining District in the Yukon. Banyan has also commenced summer drilling at AurMac and the company is making good progress as its steps out to the west at the Airstrip Zone.
Great Bear Resources (TSX-V:GBR) has also been hitting stellar drill results in 2020. Recently making a new high-grade discovery at the Arrow Zone at its flagship Dixie Project in the Red Lake Mining District of Ontario.
Golden Triangle gold explorer GT Gold announced that it is mobilizing for its 2020 field program and announced a release date of the initial mineral resource estimate for the Saddle North gold-rich copper porphyry.
Another Golden Triangle gold explorer/developer, Skeena Resources (TSX-V:SKE), has commenced a pre-feasibility study for its Eskay Creek Project. Summer drilling is also expected to begin any day now at Eskay Creek.
The rotation down the food chain to the juniors is in full effect as summer exploration programs get underway. The question that most investors are going to be asking themselves is "when is it time to take profits?" - there is no perfect answer to this question and it's going to be a different answer for everyone. A simple rule that I use is "if my entire portfolio dropped 20% overnight would I be able to handle it?", and then "if we experienced a correction would I have capital to deploy to buy my favorite stocks?"
My instincts tell me we still aren't near the euphoria stage in the junior mining sector, but maybe we're definitely seeing some excitement and maybe even starting to feel some "thrill" out there.
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