Great Bear And Westhaven Bring Life To Beaten Down Junior Mining Sector

posted in: Charts | 0

Every once in a while a story explodes out of nowhere and takes the market by storm. In 2017 it was Garibaldi (TSX-V:GGI) and Novo (TSX-V:NVO). This year it looks to be Great Bear Resources (TSX-V:GBR) and Westhaven Ventures (TSX-V:WHN).

From its August low at C$.50 to its recent all-time high GBR is nearly a 7-bagger for those who caught it perfect. Meanwhile, Westhaven is nearly a 10-bagger since its August low at C$.14 to its recent all-time high at C$1.34. It’s also interesting to note that at today’s close both stocks have almost identical market caps of C$110 million.

GBR.V (Weekly)

While GBR has been consolidating its gains around the C$3.00 level for the last few weeks WHN appears to still have plenty of momentum as evidenced by today’s close at a new all-time daily/weekly closing high:

WHN.V (Weekly)

While GBR is about to release some more assays from its summer program and close a C$3.5 million flow-through private placement, Westhaven has just begun another drill program at its Shovelnose Project which will consist of at least 6 holes and roughly 2,500 meters.

Today at MIF we learned (via that Westhaven just completed drilling hole SN18-18, a 100 meter overcut to the northeast of hole SN18-14 (which returned 17.77 meters grading 24.5 g/t gold and 107.92 g/t silver). Westhaven is “very excited” to see the assays for 18-18 and the core is being sent off to the lab for rush assays. The drill rig has now been moved south to drill a 100 meter step-out to the southeast of hole SN18-15 (which returned 46.2 meters grading 8.95 g/t gold and 65.47 g/t silver).  We also learned that Westhaven will be rushing all assays from its current drill program in order to hopefully get everything back by Christmas (I wish them luck with that!).

Both Great Bear and Westhaven have defied the gravity of the junior gold mining sector by making significant discoveries in recent months that have captured the imagination of investors. Both companies also appear to have found a way to continue to generate news flow and keep the market’s attention (and actually grab MORE attention!) with projects that can be drilled year-round.  All junior mining investors should be cheering for Great Bear and Westhaven’s success and one can only imagine what the above charts might look like in a bull market environment for the gold sector.

Back in the 2006 bull market environment for the junior mining sector we saw a ~40 bagger in shares of Aurelian Resources in a matter of months (after their Fruta Del Norte discovery became a reality in the 2nd half of 2006) and just last year we saw shares of Garibaldi Resources give early investors who held on for the ride a 30+ bagger in a few months (July-October) as the market became enthralled by the potential of Garibaldi’s Nickel Mountain discovery in a relatively strong environment for base metals:

GGI.V (Weekly – 2016/2017)

Great Bear and Westhaven have brought some life to a beleaguered junior mining sector and we can all hope that they both achieve enormous success that could help to bring some animal spirits, and investment capital, back into the precious metals exploration sector!

Disclosure: Author is long shares of Westhaven Ventures (WHN.V) at the time of publishing. 



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