John Feneck: Gold, Silver, Copper — 10+ Stocks I’m Bullish on Now
John Feneck, portfolio manager and consultant at Feneck Consulting, shared his latest thoughts on the gold sector, saying that with the yellow metal’s price reaching all-time highs now is a good time to buy gold stocks.
‘Gold has now trended higher for months. Last year it was forming a base at US$1,900 (per ounce), this year it’s forming a base at US$2,300 to US$2,400. And this is for weeks and weeks and weeks,’ he explained.
‘When you see this kind of basing pattern in any chart it’s called consolidation — it’s a really good chart pattern to look for where you’re building a base that you can build off of usually — not the other way where it crashes and burns.’
Feneck gave overviews of a variety of small-cap resource stocks he’s watching. Precious metals stocks on his radar at the moment include Guanajuato Silver (TSXV:GSVR,OTCQX:GSVRF) and Silver X Mining (TSXV:AGX,OTCQB:AGXPF).
Moving over to copper, he mentioned Inflection Resources (CSE:AUCU,OTCQB:AUCUF), Vox Royalty (TSX:VOXR,NASDAQ:VOXR), Alta Copper (TSX:ATCU,OTCQX:ATCUF) and Denarius Metals (OTCQX:DNRSF).
‘Special situation’ companies with different ideas or exposure to lesser-known sectors are also of interest to Feneck. Examples include Millennial Potash (TSXV:MLP,OTCQB:MLPNF) and Angkor Resources (TSXV:ANK,OTCQB:ANKOF).
Watch the interview above for more from Feneck on the resource sector and the companies he’s eyeing.
Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.
