Rupert Resources (RUP.V, RUPRF) is a great Success In Progress play that’s gotten ahead of itself in valuation. I should stress that I think Rupert’s Ikkari discovery is the real deal. It’ll make for a profitable gold mine someday. And the company is making more discoveries nearby on the Pahtavaara gold project in Finland. I’ve got nothing bad to say about the company at all.
It’s just that I’ve already made the gains I thought I might see in a few years. With a market valuation pushing C$1 billion. many discoveries to come are already priced in. And I’ve got more stocks on my Shopping List… Between the high valuation and the risk of portfolio bloat, this was an obvious trade to close. So, I’m booking the win and moving on.