Dislosure: Author owns shares of CORE.V and may choose to buy or sell at any time without notice.
Forty years is a long time in any industry, however, in the junior mining sector forty years is the equivalent of multiple lifetimes. One of my favorite investors/characters in the junior mining sector is Rob Cudney, a man who has been involved as an investor in the sector since 1980.
Mr. Cudney has a colorful personality and an impressive track record as an investor which includes multiple big wins and new discoveries. His forty years of investing experience means that he has more knowledge and experience in his little finger than most investors accumulate in entire lifetimes.
He has literally seen it all.
Just in the last year Cudney saw his stake in Cantex Mine Development (TSX-V:CD) soar to a more than $30 million valuation, only to fully roundtrip back to less than his total cost basis:(go to original article for chart).
On his Twitter account, Cudney (his Twitter is a must follow if you’re a mining investor or horse racing enthusiast) shared some of his optimism and excitement about Cantex last summer when he was actively buying shares on the open market. However, in recent weeks he has turned less optimistic and admitted he may have made a mistake with Cantex management.
At the 2016 PDAC, Cudney and his team won the Bill Dennis Award for the Bruce Channel gold discovery (discovery made by Gold Eagle Mines which was bought by Goldcorp for US$1.5 billion) at the Red Lake gold camp in northwestern Ontario.
After chasing him down for a couple of months I finally managed to have an hour long chat with Rob last week. The conversation was insightful and he didn’t pull any punches when it came to calling it like he sees it. It’s no secret that Cudney is extremely positive on his largest holding, Nighthawk Gold (TSX:NHK), and he also has a soft spot for Copper Reef (CSE:CZC) and Hemlo Explorers (TSX-V:CORE), – he (through his fund Northfield Capital) is the largest shareholder of both CZC and CORE and I know he hopes that one of these two will become his next Gold Eagle (bought by Goldcorp in 2008 for US$1.5 billion).
For the rest of this interview: https://ceo.ca/@goldfinger/conversation-with-legendary-junior-mining-investor-rob-cudney-of-northfield-capital