One thing is for sure the junior mining market continues to struggle as we have had four consecutive down years on the TSX Venture (2011-2014) and 2015 is not off to a promising start. Legendary mining financier and company builder Ross Beaty has been one of the few who is actively putting money to work and buying positions in junior companies.
Today we found out his latest public investment in a junior when Arena Minerals (AN:TSXV) announced a $1.5 million dollar financing. Inside the press release Arena announced that Mr. Beaty and his associated parties would be subscribing for $1 million dollars of the $1.5 million placement. Upon successful closing Mr. Beaty will hold approximately 12% of the issued shares of Arena.
Shares of Arena shot up 5 cents (43%) to close at $0.165 cents on the news. It shows Mr. Beaty has a strong following even in these quiet markets and investors are eager to invest alongside him. The rest of the private placement will have no trouble filling now if it is not already spoken for. I remember listening to several interviews with Rick Rule of Sprott in the last couple years where he refers to Ross as a “broken slot machine” because his investors are rewarded with big pay days so frequently.
I took a quick look at Arena and noticed they are a prospect generator focused on working in Chile. The flagship Atacama Copper property is located in the heart of the Antofagasta mining region which is well known for copper deposits. Arena has an option to acquire 80% of the early stage project. Other projects include Pampas El Penon which partially surrounds Yamana Gold’s El Penon mine. Arena has also recently optioned off two projects to B2Gold.
Once the news hit the wires CEO.ca live members were already chatting about what other companies Mr. Beaty is invested in. The following is a list of companies brought up in the chat. (Note: No guarantees Mr. Beaty is still invested in any of these companies. Please do your own due dilligence).
- Kaminak Gold (TSXV:KAM)
- Dalradian (TSX:DNA)
- Odin (TSXV:ODN)
- Alterra Power Corp (TSX:AXY)
- Red Eagle (TSXV:RD)
- CB Gold (TSXV:CBJ)
- Pan American Silver (TSX:PAA)
- Anfield Nickel (TSXV:ANF)
- Kivalliq (TSXV:KIV)
Please join us in the CEO live chat room where we are always discussing the latest hot topics in junior mining as well as other business topics.
I look forward to seeing you in there.
This is not investment advice. All facts are to be checked and verified by reader. As always please do your own due diligence.