Resource Pick #1
Almaden Minerals (T.AMM)
Morgan Poliquin was only 14 when his father, Duane, founded what was then Almaden Resources Corp. in 1986. Ten years later, in 1996, Morgan, freshly graduated from college with a master’s degree in geology and a bachelor’s degree in geological engineering, joined his father at Almaden... and right away landed his first big find.
He identified the company’s Caballo Blanco project in eastern Mexico – a gold deposit currently estimated to hold an indicated resource of 139,000 ounces of gold, with another 517,000 ounces inferred.
In mid-October 2011, Almaden sold its 30% interest in Caballo Blanco to Goldgroup (T.GGA) in exchange for US$2.5 million, 7 million shares of GGA’s stock, and a 100% interest in the promising El Cobre copper-gold project.
Aside from exploration at El Cobre, Almaden’s crew are working hard on their next target at the Ixtaca zone, also located in Mexico, where they’ve been hitting pay dirt already. Their latest drill results were 10 meters of 3.05 grams per tonne (g/t) gold and 198.8 g/t of silver. I guess they must be happy, too, because they just added a fourth drill to their program.
Last December (seven and a half years after we added the company to our Casey portfolio), well-known investor Mark Skousen picked AMM as his “favorite stock for 2011,” stating that “Almaden is rapidly going from ‘small cap’ ($253 million) to ‘large cap’ and may even be bought out soon by a major.” We agree.
At last count, Casey International Speculator subscribers were sitting on 333.3% gains with Almaden but we are convinced there’s much more to come... so it’s not too late to make Almaden part of your own precious metals portfolio.
Two More Resource Companies
Poised to Hit It Out of the Ballpark
Almaden is only one of the three stocks Louis and I have selected as our current favorite picks. Read on and I’ll tell you more about them.