This Currency, as we manage it, is a wonderful machine. It performs its Office when we issue it; it pays and clothes Troops, and provides Victuals and Ammunition; and when we are obliged to issue a Quantity excessive, it pays itself off by Depreciation. – Benjamin Franklin
Yesterday, my son Andy and I attended a luncheon at Ruth Chris’ sponsored by Scorpio Gold and Torrey Hills Capital. Our friend, Andy Hoffman insisted that we Attend Scorpio’s CEO Peter Halley presentation. In a word, I was IMPRESSED. I am heavily into physical gold and silver, but I do selectively own some mining shares. After the presentation, I came home and placed an order with my broker for myself, my wife Susan and for my son Andy that was quite substantial.
I am not a financial advisor and am not suggesting that you go out and do the same. The shares that the Schectman’s own are not a short-term “pump and dump” purchase. We will keep them for a few years, or until Scorpio is bought out by a major producer, which I expect will happen down the road.
Andy Hoffman was kind enough to supply me with his recent article on Scorpio Gold and you can find it at the end of the daily. It is a very cool story.
Exploration companies or junior mining companies are all rather risky and are for the seasoned investor. With these kinds of companies, you roll the dice, but if you are correct, the payoff is often BIG.