I borrowed the title from a Globe & Mail article.  I first suggested buying into a metals recovery back in February suggesting Freeport (FCX) and Western Copper and Gold (WRN).  One name I’ve also bought into is not on anyone’s radar screen.  Hudbay Minerals (HBM) is a producer of a range of minerals in hot demand – copper, gold, silver zinc and moybdedum.

Hudbay Operations   Source: Hudbay 2nd quarter report

The company reported a loss in its most recent 2nd quarter which is not surprising.  The loss would’ve been much less if they didn’t have to shut the Peru (Costancia mine) operation due to COVID-19.  However, as I mentioned in my old book Resources Rock:

“Buy the stock when the company is losing lots of money, and sell the shares when they’re making more money than ever before.”




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About the Author

Malvin Spooner is a veteran money manager, former CEO of award-winning investment fund management boutique he founded. He authored A Maverick Investor's Guidebook which blends his experience touring across the heartland in the United States with valuable investing tips and stories. He has been quoted and published for many years in business journals, newspapers and has been featured on many television programs over his career. An avid motorcycle enthusiast, and known across Canada as a part-time musician performing rock ‘n’ roll for charity, Mal is known for his candour and non-traditional (‘maverick’) thinking when discussing financial markets. His previous book published by Insomniac Press — Resources Rock: How to Invest in the Next Global Boom in Natural Resources which he authored with Pamela Clark — predicted the resources boom back in early 2004.

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