I have made a move in my portfolio. I have sold off Pacific Rim Mining (PMU) and bought into a company called Pediment Exploration Ltd. (PEZFF).
The main reason why I decided to ditch PMU was because of a labor dispute in one of their mines. I'm not saying that this is a dead company, but it wasn't exactly what I was looking for. I ended up less than 1% up on this one, but let's talk about Pediment.
Pediment is a exploration penny stock with some great upside potential. They are another one of those companies that is in Mexico, exploring historically rich deposits with newer technology.
Like I said, I was looking for some change, and Bob Moriarty presented that opportunity. He has a large stake in the company and has watched since day one. I expect his sway, and his advertising to push the price up.
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1 comment:
Hello,
With all due respect, I think you made a mistake selling PMU.
They have proven resources of over 1.2 million ounces on just one of three property's in El Salvador.
With the discovery of the new Balsamo vein, the next estimate will easily top 2 million ounces.
Add Santa Rita and Zamora to the equation, and , over time, there should be over 7 million ounces P&P on their wholly owned property's.
Once permits are granted to mine, PMU's PPS will explode !
Pediment has no proven resources at all.
It is one thing to be an exploration miner and quite another to actually have the proven Gold.
No doubt, PMU will reward those who are patient !
Also compare PMU's management to that of Pediment, or any other junior minor, for that matter.
Thanks for letting me air my thoughts !
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