Fresh off spending $1 billion to boost its stake in the massive Morenci copper mine in Arizona from 15% to 28%, Sumitomo President Yoshiaki Nakazato has turned his attention to gold.
For the investor, it all suggests positioning in companies that are set up to be on the receiving end of a Sumitomo cheque.
It is impossible to know what the Japanese major will do, but it is possible to trace where its money is already going. And it turns out Sumitomo currently only has one joint venture with an exploration company.
That company is Viscount Mining Corp. (TSXV:VML) (OTCQB:VLMGF) (TSXV: VML). Viscount’s flagship asset is the Cherry Creek project in Nevada.
To read our full disclosure, please click on the button below:
The Content contained on this page (including any facts, views, opinions, recommendations, description of, or references to, products or securities) made available by SmallCapPower/Ubika Research is for information purposes only and is not tailored to the needs or circumstances of any particular person. Any mention of a particular security is merely a general discussion of the merits and risks associated there with and is not to be used or construed as an offer to sell, a solicitation of an offer to buy, or an endorsement, recommendation, or sponsorship of any entity or security by SmallCapPower/Ubika Research. The Reader should apply his/her own judgment in making any use of any Content, including, without limitation, the use of any information contained therein as the basis for any conclusions. The Reader bears responsibility for his/her own investment research and decisions. Before making any investment decision, it is strongly recommended that you seek outside advice from a qualified investment advisor. SmallCapPower/Ubika Research does not provide or guarantee any financial, legal, tax, or accounting advice or advice regarding the suitability, profitability, or potential value of any particular investment, security, or information source. Ubika and/or its affiliates and/or their respective officers, directors or employees may from time to time acquire, hold or sell securities and/or commodities and/or commodity futures contracts in certain underlying companies mentioned in this site and which may also be clients of Ubika’s affiliates. In such instances, Ubika and/or its affiliates and/or their respective officers, directors or employees will use all reasonable efforts to avoid engaging in activities that would lead to conflicts of interest and Ubika and/or its affiliates will use all reasonable efforts to comply with conflicts of interest disclosures and regulations to minimize the conflict.
