December 3, 2017
December 3, 2017


I’m in Toronto tonight–the last day of travel since I set out on July 12.

i enjoy and sincerely appreciate your work and your generosity.
1. have you examined Olivut: OLVRF (which mr. Lassonde owns 20% of)? i would love to hear your response to it as a potential speculation.
2. i checked out Vantagewire for Canadian news…for me, it was a bad experience. but it led me to their quote and news provider at quotestream.com, which seems to be good…simply sharing for the benefit of readers.

Glad you like the site. I know nothing about Olivut. Lassonde is a smart guy, but diamond exploration is tough–it makes gold mining look easy… Generally, i’m not interested in anything unless it’s about to produce or already in production. Otherwise it is simply a blind speculation–I can do that in Vegas and at least they comp you drinks while you play.

Thanks for sharing. I know nothing about quotestream.com, but it could be a viable option for those who want Canadian data.

Hi Harris,

I would appreciate your comments on the PLG 2010 warrants (http://www.platinumgroupmetals.net/investors/share_structure/ ) and any other comments, positive or negative, on PLG.

Sorry, I know nothing about the company. I want to point out that warrants are only good if you know the timing of a big move. Generally, options are priced as if the move is a sure thing. An option on a mining company is an option on an option. Make sure you know what you’re investing in. Sorry I cannot be more helpful.

Thank you for your informative post.China currently produces more than 97% of all REE and this July China cut its REE exports by 40% due to domestic needs. They also have export tariffs of 10-25%.REE use is expected to increase dramatically due to green-energy technologies (electric vehicles). Current hybrid-car batteries use about 10kg La per car. Yes new US production is coming online (e.g., Molycorp). Let me know if your investment opinion on REE (and Li) changes.

Demand will certainly increase. However, a few large mines in the planning stages will certainly lead to a glut. If you like a few specific REEs, you may be better off just buying and storing them, rather than buying a junior who hopes to mine. With a few exceptions, most junior miners are not businesses–nor will they ever be businesses.

A quick note. Since I started this site, I’ve recieved dozens of questions on mining companies that I have never heard of. Rather than reprint them all, I’ve only answered a few of them.

Generally speaking, I think mining is an awful business. I rarely invest in it any longer. I have made and lost small fortunes in mining and have decided that with a few exceptions, I am no longer all that interested. It is just too hard to consistently make money at it, unless it is all that you do. Money is not biased–you do not get extra credit for difficulty. There are far more lucrative (and easier) ways to make money and for that reason, I haven’t followed mining closely in a while now. I wish I had something insightful to say about all of the mining companies I am asked about, but with a few exceptions, I just do not know enough to have an opinion beyond the fact that the odds are heavily stacked against you.

The only clear trend in mining is that at the start of the year, you raise money, at the end of the year, you have some holes to brag about. After seeing this process a few times, I decided that I would rather just own Energold because holes may or may not be good, but every year, Energold seems to have more money, more drills and is a real business. It is the reason that Energold is one of my largest positions. I feel like I have the junior mining sector well covered with it.

If you are desperate to invest in mining, read this first. It is one of the first pieces I wrote for the site. I intend to update it over time, but it’s a good summary of why not to invest in mining.