Whenever I make a purchase, I like to share my buys to document my journey towards financial independence. This latest purchase continues to diverge from the normal DGI stock buys that I normally pursue, as I shared in this post -Multipronged Approach to Investing and Recent Sell - The Big Reset Edition.
Regular readers of this blog are aware that I am not crazy about this stock market and the crazy valuations we are seeing. In addition, companies are routinely adjusting their financials, which isn't being highlighted by the media. This I find is very concerning and fear the worst pushing me towards more safety trades.
Over the past few months, I have shared my moves in the precious metals space with a purchase of Silver Wheaton Corp (SLW.TO) and Pan American Silver Corp (PAA.TO). Continuing with the theme, I added another mining company, this time focused on gold. Note that at the moment, I own IAMGold Corp (IMG.TO), but have a covered call which is in-the-money and expect to expire in a couple of weeks and get called away. This was a way for me to get rid of a company that I am not very confident in - its a decent company, but the management hasn't done a great job and there are better run companies in the space.
Last month, I initiated a position in B2Gold Corp (NYSEMKT:BTG)(BTO.TO)with 500 shares @ C$3.60. The company does not pay any dividend.
Disclosure: I am/we are long BTG, PAAS, SLW.