The High Risk/High Reward Gamblore Portfolio

May 24, 2023

I am going to do a small “case study” by putting together a portfolio with 20 equally weighted holdings that will be pure High risk/High reward explorers.

1. Headwater Gold – $0.375
2. Tectonic Metals – $0.105
3. Inflection Resources – $0.21
4. Brixton Metals – $0.16
5. Fathom Nickel – $0.15
6. Goliath Resources – $0.59
7. Condor Resources – $0.16
8. Altamira Gold – $0.17
9. Western Alaska – $2.06
10. Dynasty Gold – $0.275
11. Gold79 – $0.03
12. Pacific Ridge – $0.21
13. Juggernaut Exploration – $0.14
14. Rackla Metals – $0.155
15. Eskay Mining – $0.55
16. Cartier Silver – $0.41
17. Ophir Gold – $0.245
18. District Metals – $0.105
19. CDN Maverick – $2.00
20. Alpha Exploration – $0.75

Each holding will have a 5% weighting in this purely early staged, high risk/high reward, exploration portfolio.

It will be interesting to see where what the portfolio returns will be a year, two years and three years etc from now. I will treat it as a pure HODL portfolio where there is no “selling on a double” and no internal re-shuffling. The winners will get to run with full positions and the losers will become marginal as time passes.

Some simple truths

If 25% (aka 5 companies) are successful and return +300%, then the portfolio returns will be neutral, even if the other 75% (aka 15 companies) go down to zero.

Allowing a winner to play out

If you “sell half on a double” then you it greatly decreases the chance of one early exploration story paying for many others.

Quick notes:

1. Headwater Gold – $0.375
   1. 4 projects – Each >3 bag potential
   2. Great/good jurisdictions
   3. Mostly funded by Newcrest
   4. High-grade (high-margin) targets
2. Tectonic Metals – $0.105
   1. Flat Gold Project – >10X potential
   2. Good jurisdiction
   3. Probable growth
   4. Very large blue sky
   5. Remote -> Higher threshold
3. Inflection Resources – $0.21
   1. >5 targets
   2. Great jurisdiction
   3. Many many big targets
   4. No margin of safety
4. Brixton Metals – $0.16
   1. Camp Creek – >10X potential
      1. Probable growth and extremely high potential growth
      2. Remote and deep -> Higher threshold
   2. Trapper – >5X potential
      1. Probable growth and high potential growth
      2. Remote -> Higher threshold
   3. Great jurisdiction
   4. Two discoveries with probable growth and high potential growth
5. Fathom Nickel – $0.15
   1. X – >10X potential
   2. Great jurisdiction
   3. Probable growth and high potential growth
6. Goliath Resources – $0.59
   1. Sure Bet – >5X potential
   2. Great jurisdiction
   3. Probable growth and high potential growth
7. Condor Resources – $0.16
   1. Pucamayo – >10X potential
   2. OK jurisdiction
   3. Extremely quick pay off potential
   4. Quantum leap/kill situation
8. Altamira Gold – $0.17
   1. Maria Bonita – >10X potential
   2. Good mining jurisdiction
   3. Ounces in the ground -> Lower threshold
   4. Infrastructure, near surface -> Lower threshold
9. Western Alaska – $2.06
   1. Waterpump Creek – 5-10X potential
   2. Good jurisdiction
   3. Probable growth and very high potential growth
   4. Remote but potentially very high margin
10. Dynasty Gold – $0.275
    1. Thundercloud – >5X potential
    2. Great jurisdiction
    3. Probable growth and very high potential growth
11. Gold79 – $0.03
    1. Gold Chain – >10X potential
       1. Probable growth and very high potential growth
    2. Canyon – >2X potential
       1. Low risk upside
    3. Poor share structure
12. Pacific Ridge – $0.21
    1. Kliyul – >10X potential
    2. Great jurisdiction
13. Juggernaut Exploration – $0.14
    1. Empire – >10X potential
    2. Midas – >10X potential
14. Rackla Metals – $0.155
    1. Astro – >10X potential
15. Eskay Mining – $0.55
    1. District – >5X potential
16. Cartier Silver – $0.41
    1. Multiple – >10X potential
17. Ophir Gold – $0.245
    1. Lithium – >10X potential
18. District Metals – $0.105
    1. Multiple – >5X potential
19. CDN Maverick – $2.00
    1. Lithium – >5X potential
20. Alpha Exploration – $0.75
    1. Multiple – >5X potential

NOT INVESTING ADVICE. Each one is highly risky. I own all stocks mentioned and some are banner sponsors. Consider me biased. Do not invest money you cannot afford to lose.