Jim Letourneau's Blog

Investing, Technology, Travel, Geology, Music, Golf. I think that covers it.

Day 2 - Vancouver Resource Investment Conference

I bumped into Tom Jeffries who is now with Market Matters and I did a quick web interview with him. Then I caught a portion of Dennis Gartman's talk who's trading philosophy is at direct odds with that of some of the more successful resource stock speculators. Do I buy high and sell higher or do I sell strength and buy weakness? I'm a Gemini so maybe I can do both! (with different stocks of course). 

It was unconventional gas day for me... don't worry, it had nothing to do with convention dining. Rob Bell of Stealth Ventures (SLV.V) updated me on their activities - they have great leverage to natural gas prices and have the ability to weather low natural gas prices if need be.

The evening was filled with a wonderful dinner with Exxel Energy (EXX.V) executives. It was my first meeting with VP Exploration, Bill Lingley and I was very impressed with the breadth of his knowledge. He's worked on major exploration projects all over the globe and he knows Washington State geology like the back of his hand. Exxel's most recent hires have options priced at $4, well below the current price of $2.45. Nobody seemed worried.

I participated in the afternoon Uranium Rush panel discussion. I pointed out that Canadian Business had an article called "Get it While it's Hot - Uranium is poised to be the commodity story of 2007 - but investors should tread carefully". Seeing how the article pointed out that uranium had increased 928% since 2000, I was of the mind that a pullback wouldn't be out of the question at some point.

I later introduced corporate presentations by:

  • Luiri Gold

  • Patrician Diamonds

  • Silver Eagle Mines

Finally, I did a workshop on unconventional gas stocks. They are less risky than they were a few months ago but they can still move lower.