Sagging into the New Year

More developments with SAG: Sterling Metals Forms Advisory Board and Appoints Denis Laviolette, Kelly Malcolm and Mark Raguz as Inaugural Members.

Sometimes I speculate in smoke signals. Reminder: the chart looks good.

Spot of Sterling

Interesting news item that I missed during the relatively hectic Thanksgiving week: GoldSpot purchased shares in Sterling Metals (formerly Latin American Minerals). GoldSpot is a large position of mine and I own a speculative position in SAG as well.

Spot looks solid above 40 cents, but the chart resembles gold. Considerable weakness exists if gold breaks $1800. Goldspot could also see a substanial pullback. Sterling has substantial support around 21 cents and 50 cents is the resistance before a breakout.

Lats Complete

If the move holds, it's a breakout.

I covered this stock exactly one month ago: Working on My Lats

I am looking for a move through 5 cents that should carry it to 10 cents. Most of the resistance was sub-5 cents though. The chart looks great to me, but this is one of my "throw spaghetti against the wall" picks.

In that post I had a news item about their asset in Paraguay. Since then, they pivoted to Canada and will change the name of the company to Sterling Metals.

Working on My Lats

Here's a highly, highly speculative pick that could be breaking out. Illiquid, small company with a CAD$10 million market cap. I bouhgt this because of the chart a few weeks ago. Took me many days to fill my order.

Mining Journal (subscription required): Starting from scratch in Paraguay

If nothing else, Latin American Minerals (CN:LAT) can claim a first-mover advantage; its Independencia gold tailings operation in southern Paraguay is currently the only operating mine in the largely unexplored country.

I am looking for a move through 5 cents that should carry it to 10 cents. Most of the resistance was sub-5 cents though. The chart looks great to me, but this is one of my "throw spaghetti against the wall" picks.