High Risk, High Potential
Many readers have emailed me asking what they should be investing in right now. Obviously the market is in chaos and some brilliant stocks are down 70% in the last few months. It really is an opportunity for those willing to pick those low hanging fruit.
Myself, I’m buying some really cheap lottery tickets that have the potential to go up 10-50 fold. You may lose on most of them but those who survive should more than make up for your losses. Companies are beginning to give away good projects they can no longer support.
One of the companies I have picked up a number of shares in is New Destiny (NED-V). I was buying shares in a PP a year ago at $.15. Now the shares are $.04. The company just did a deal on a project just north of Battle Mountain in Nevada.
New Destiny can acquire 80% of the Rift Project, some 16 square KM of ground about 45 km west of the Carlin Trend. The company that they did the deal with is called Nevada Rift Resources and is based in Perth Australia. Nevada Rift spent over $3.5 million on the project over the past three years but ran out of money.
The deal calls for NED to pay the vendor $350,000 in cash, to spend $3.5 million in exploration and to issue 7.5 million shares to get the initial 80%. NED can pick up the additional 20% by paying the vendor $5 million more and completing a BFS.
This project is right in the middle of elephant country with mines in every direction of the compass. For Nevada, it’s very underexplored. The targets are deep and that means raising money and dilution but they either hit or they don’t. If they hit, the stock goes up a lot. If they don’t hit, the stock doesn’t have far to fall.
I’ve been an investor for a couple of years so I am biased. Do your own due diligence. The company just announced a $750,000 placement.
New Destiny Mining Corp.