Source: Michael Ballanger
October 24, 2023 (Investorideas.com Newswire) After reviewing the company last week, Michael Ballanger of GGM Advisory Inc. shares his current thoughts on Norseman Silver's stock.
Phones and email inboxes are inundated this morning with cascading queries about Norseman Silver Ltd. (NOC:TSX.V; NOCSF:OTCQB), which was highlighted 15 days ago on October 3 after I had a conference call with V.P. Exploration Merlin Marr-Johnson, President Sean Hurd, and Chairman Campbell Smyth.
The stock was trading at CA$0.035, and while I was doing my best to pound the table (the way I did in August 2022 with Allied Copper at CA$0.08), these moribund junior mining markets may have tempered my enthusiasm "just a bit."
As it always turns out, I should have been more animated as the stock has advanced 250% since the CA$0.035 lows of early October and has traded today as high as CA$0.105 on volume of 2.
403,590 shares. Many of you own Norseman, so it was my hope that you could average down over the balance of October, but Sunday's pop has it on more than a few radar screens, and the Streetwise report that featured NOC on Monday is apparently getting pretty good traction.
If the company's big European following (Merlin is in London) starts to get the fever, I see CA$0.20-0.25 before any real supply shows up, so use a CA$0.10 limit to add to the higher-priced positions and get your cost down as far as you can. Norseman is going to be a full-fledged, card-carrying member of the "electrification trilogy" within a few weeks, and that should dynamically change the narrative...
Buy NOC.
Chart courtesy of Stockwatch.com
Fundamental Data - NOC
Please see TSX-V for dividend and earnings information.
Norseman's properties are in British Columbia, Canada, and Rio Negro, Argentina. The four projects in British Columbia are highly prospective of silver and copper mineralization.
Taquetren in Argentina has discovery potential in a mining-friendly district, host to one of the largest silver deposits in the world. The long-term vision is to advance the projects to development.
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