I have a question for you. I said I would write about stocks, or other speculative investments I put my own money into. That’s exactly what I’m doing in the Independent Speculator.
But what if I see an opportunity I like, but can’t participate in it for some reason? I don’t want to contradict myself. But I also don’t want to keep interesting speculations from others who might be interested.
For example, Renaissance Gold (REN.V), one of my favorite prospect generators, is financing now. They’re offering qualified investors units in a private placement at C$0.24 (close to current market). These come with full warrants for buying shares at C$0.48, anytime within the next five years.
Five years is a very long time to give this team that has discovered multiple mines a chance to deliver again. The money being raised might even last that long, since the company excels at picking great targets that other companies pay to explore. As I’ve said before, exploration is a very tough business. Optioning projects to join-venture partners that pay for all the highest-risk work is one of the best ways to go about it. Best of all, I know and trust the people involved, and that’s critical. That makes this a great speculation.
So if I like this so much, why am I not buying into the private placement?
Well, I have a long shopping list of high-priority picks I’m working on. I think some of these have high odds of high gains in the near term. No one can buy them all, but frankly, I just put a large part of my liquidity into starting my new business, so it will be a while before I can buy all the ones I want. Since I’m not doing this for show, but putting enough of my own money to matter into deals I believe in, I don’t want to spread a few dollars here and there in token speculations.
I’m either in the deal or not.
If this financing were happening six months from now, I’d be asking for a chunk of it. But it’s not. It’s here now…
So I’m asking for your feedback. What do you think? Should I bring up “honorable mention” opportunities that I’m not buying myself? Or not?
Please send your thoughts to me at: L@LouisJamesLLC.com.
Disclosure: Ron Parratt, Renaissance’s executive chairman, is a friend of mine and a member of my Board of Advisors. Any who see that as a possible conflict of interest should take note.
That said, since I’ve brought it up, here’s the link to the company’s press release. Those qualified can find contact info there for further information.
