Thursday, May 29, 2014

Junior Gold Miners Consider Cashing Out, Pursuing Medicinal Marijuana Opportunities

This is earlier in the cycle than expected. I mentioned the transmutations that small companies can go through back in 2008's "Chameleons on the Pink Sheets":
...A classic history would be a Vancouver "junior resource" company in 1979, after the collapse of the oil and gold markets became a solar deal in '81 , an Aloe Vera deal to the yuppies mid '80's, a biotech in '86 ("we're the next Amgen"or "A cure for AIDS"), then on to neutraceuticals or spas, Indian casinos, software, then the great "i", "e-" and ".com" gold rush. Someday I'll get around to checking if some lunatic scammer actually went with "".

The next group of parasites were the "homeland security" companies, then land deals. The "resource" scams never went away and became more prominent in 2002 after gold had moved off its $252 bear market low. We're in the Green boom (happy Earth day by the way) now, who knows what's next....
From Kitco:
With the mining sector proving to be ruthless in the junior mining space as a lack of capital in the industry continues, junior miners turned their heads to new opportunities, including the lucrative medical marijuana industry.
March saw several penny stocks jump as juniors essentially told the market they were looking at possibilities with medical marijuana.

The move was generally hiring consultants to explore the possibility in the field. However, in Canada, mining companies would have to go through the same steps as anyone to receive one of the few medical marijuana producers’ licenses. Only 12 have been handed out to date.

In a statement to Kitco News, Department of Health Canada said “to become a licensed producer, all applicants must meet all of the requirements of the new Marihuana for Medical Purposes Regulation, including obtaining the proper personal security clearances, meeting the physical security requirements for the cultivation and storage areas, and submitting a completed licensed producer application."  

Supreme Pharmaceuticals (TSX:CL), formerly metals mining company Supreme Resources, has applied to Health Canada for a “Marihuana for Medical Purposes Regulations” (MMRP) license.

The company recently completed the acquisition of a greenhouse complex for medical marijuana production on May 23, and said they will be able to begin production upon receipt of an MMRP license.

Satori Resources Inc. (TSXV:BUD) recently completed a strategic alliance with Jourdan Resources Inc. (TSXV:JOR) involving the Picnic Phosphate property in Quebec, which is focused on phosphate minerals for specialized agriculture and fertilizer....MORE
Still, it will be very difficult for anyone to top this morph:
Peak Oil Stalwart to Shutter Forum/News Site, Pursue Career as Astrologer