Is BRB a good investment?, page-6

Hi I joined HC to respond to your post because it resonated with me. I too wondered why this stock was just hanging about. I decided to follow the trail upstream and reached an entirely different conclusion. I should say I know nothing about stopes, and hanging walls and such like, so call me a fool, but I can only go with what I know and so I look for softer and less technical indicators.

First off Saunders is a wooden old geologist. He doesn't present that well and the company's presentations seem very detailed and technical in a way that appears likely to reflect his character. It surely doesn't help that he is not a natural salesman. But he is an enthusiast with skin in the game and has continued buying. I find it hard to believe he'd buy just to disguise the fact the thing is a dog. Personally I like enthusiasts.

It is clear that in 2019 there was a change in approach. The whole "drill the heck out of it" came to the fore. But I have heard Steve Parsons of Bellevue strongly advocating the same thing.

Then I decided to look at Electrum which took a share of the company at the time the change of approach occurred.

First off the Chief Executive is Thomas Kaplan a billionaire resources investor. Secondly he is a historian as I am which I liked a lot. Doesn't mean anything in itself but like me (not that I can even walk in his investment shadow) he is patient and looks at things in term of the sweep of history.

Google his interview with David Rubinstein its very interesting....

But here's the thing. Electrum is a shareholder in Novagold. Have a look at the June 2-4 presentation on their site. In it you will find the Kaplan Doctrine: "Acquire category-killer assets that give the greatest leverage to the underlying investment thesis in jurisdictions that will allow one to keep the fruits of that leverage".

Ok so I am thinking at this point scale is a thing for Kaplan. Maybe this is a biggie. Maybe Saunders isn't just rambling. Put that with the fact Electrum bought in at 35c and I did at a lot less, and I am thinking maybe worth a punt.....

Happy to be scoffed at if I am wrong but hey gotta have some basis for making decisions.