GoldSpot Discoveries (SPOFF)* $0.60
I am not sure what is happening with GoldSpot Discoveries, but buying interest is really picking up. Volume in $ is still small but momentum is building. For me I want to own more longer term. It is now considered a core position by LOTM. I hope it runs into resistance at its 50-day moving average and backs off to allow more accumulation in related accounts.
LOTM bullish on the mining industry. This Artificial Intelligence and Machine learning company is the perfect asset gather in minerals and mining. I would hesitate to suggest a stock this cheap (in price and market cap) unless I really believed in the company and its people. Though small they are the world leader in Artificial Intelligence (AI) and Machine Learning (ML) for the mining industry. They are rolling up the AI/ML industry as it fits within their plans in the mining industry.
Assets under management was about $44 million USD. The Enterprise Value from TradingView was about the same. You get above average growth for free while buying the assets at their market value. 116 million shares are outstanding.
My gut feeling is that this is a tiny company to grow with and accumulate as a wealth building tool.
- Eric Sprott owns about 19.5% – higher than what is in the – Power Point
- Rob McEwen a big name in mining owns about 0.93% – Founder of Gold Corp – now Barrick Gold Corp (GOLD)
- Palisades Goldcorp – a mining finance company, owns 13.14%.
GoldSpot is connected to big money and high performance mining experience. A key feature for any company.
Technical Comment:
In the chart above, note the volume pick-up as well as all technical indicators are giving buy signals.
This positive technical picture is without the share price crossing above its major moving averages. Once the price crosses the 50-day and 150-day moving average more reactionary buyer will appear. This is not a highly liquid stock so we might not get the reaction if it had a higher daily trading volume.
This is not for the weak of heart or for those needing liquidity. The trading volume can dry up and be next to nothing, very quickly. This is like buying a semi-private company. Appropriate for long-term holders looking to treat it as a core position and build for a big pay-day in the future. Perfect for someone without a lot of cash who needs time to dollar cost average into a big position that can make a meaningful difference in their life.
Linked here is a Power Point presentation of GoldSpot released March 2022.
Related accounts have been buying into GoldSpot the past few days. The average cost is $0.57 after first buying the shares at $1.20 back in June of 2021. Related accounts expect to continue buying GoldSpot in coming days. We knew we wanted to accumulate the shares but were waiting for a better price. We believe that time is now.
Recent Video from post Q3 2021 time period.
GoldSpot Virtual Event – December 9, 2021, 21 minutes
Suggestion: Initiate a position with a buying limit. Look for weakness to accumulate more shares. Sell 30% to 50% of your shares at different levels on the way up and on price spikes to recover your initial investment. The fall-off if and when it happens, could be fast. Illiquid stocks do that. The positive feature of illiquid stocks is when they are discovered, they can explode 3 to 10 fold. I will be very disappointed if this isn’t a 10 bagger in five years. That is my time-line duration.
LOTM Research & Consulting Service
* An account related to LOTM holds a position in this security.
Neither LOTM nor Tom Linzmeier is a Registered Investment Advisor.
Please refer to our web site for full disclosure at www.LivingOffTheMarket.com ZTA Capital Group, Inc.
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