If you’ve been anywhere near social media over the last six months, you’ve no doubt heard from a lot of junior mining execs complaining that it’s dead out there for resource companies.

I mean, it is, but only because most junior miners aren’t actually doing anything.

They sit on a plot and wait for ‘the markets’ to come back, they raise tiny amounts that cover office rent only, they put out news releases of questionable importance, have blown out share structures, and they hope ‘the retail crowd’ will one day wake from their slumber and say, “yes, random explorer who doesn’t have the money to explore, we choose you!”

Sure, the markets aren’t propelling every company to the stars as a default position anymore, but what’s wrong with asking an executive team to earn their compensation for a change?

Companies that aren’t waiting about for others to give them a lift should be placed in a category of their own, because those guys seem to have no trouble finding exploration dollars, or big partners, or deep pocketed large investors, or interesting (and cheap) properties that others are desperately cashing out of.

And, weirdly enough, their share prices seem to go up while the rest of the market drags ass.

We told you about Troubadour a few weeks back and you’re welcome, because it’s been chugging along happily, from $0.24 tp $0.30 in that time.

Not a double exactly, but a 25% run is nothing to sneeze at, especially coming off the back of a five-bagger since March.

Troubadour’s share chart is a bone fide champ. It’s not a crazy two day rocket that can’t be sustained, it’s a steady lifter that shows growing volume, great liquidity, insider support, and all without the need for an avalanche of news and promo.

AND ITS EARLY DAYS:

A five-bagger it may be but the sails are still full of wind, and that’s for a few reasons.

First, it’s only sitting on a $14 million market cap, even after the massive jump, so we’re far from bubble territory.

Next, with only 57m shares out, there’s a lot of room to raise money without dilution being a killer of future profits.

And that’s before we even talk about the land package.

There are three Troubadout projects focused on copper/gold, in BC and Quebec. I’m going to focus on the Quebec property because, frankly, that’s going to end with the company being acquired – book it.

THE SENNEVILLE PROJECT:

Okay, pop quiz, if you looked at this map and learned the $300 million market cap Probe Gold (PRB.T) has found plenty of what it’s looking for to the north and south of the Troubadour property, and that they figure those projects connect underground, and that they recently flew mag cameras over both their properties and just kept flying over the Troubadour bit in the middle like they already owned the joint, what would you think might happen next?

Yeah. Me too.

Now, obviously Troubadour is open for business and happy to entertain offers, but they’re no slackers in the meantime – they know if they work their property (and the Probe mag flights were helpful in figuring out where to do the work), the eventual price to be paid will rise and rise.

And if Probe wanted to play hardball and take their time in making an offer… hey, who’s that to the southwest?

Is that the $4 billion giant Eldorado Gold (ELD.T)? You think they might like to wedge themselves into Probe’s veins?

Yeah. Me too.

I dont even care about the other properties on Troubadour’s roster at this point, I just want them tossing dollars at the Senneville because every dollar spent will come back 10x when someone finally takes the property off their happy hands.

In the meantime, keeping the property is dirt cheap.

• Due upon exchange approval, 2.5 million shares;
• Due on the six-month anniversary, 2.5 million shares;
• Due on the 24-month anniversary, $2-million in expenditures.

Meanwhile, Probe isn’t messing about. They’re drowning in NI 43-101’s, and just expanded another.

• Total Resources for all Val-d’Or East properties gold resources currently stand at 6,728,600 ounces Measured and Indicated (“M&I”) and 3,277,100 ounces Inferred, along all trends and deposits, almost doubling from the 2023 Resource Update; a 77% increase in M&I Resources; and a 131% increase in Inferred Resources.
• Development work is ongoing, with a new 50,000-metre infill drill program set to begin shortly.
• Permitting work is advancing well with Federal guidelines received for Phase II and a detailed project description submitted to the Province of Quebec.

Troubadour is right behind them.

• The company is also pleased to announce that it is preparing to launch its 2024 field programs at its Senneville copper VMS (volcanic massive sulphide) property. The initial work at the property will be to complete a biogeochemical survey before embarking on ground geophysics which will lead into Troubadour’s maiden drill program planned to commence later this fall.

This is the part where I come up with a big pithy humourous finish but, frankly, it’s not necessary here.

Probe is en fuego, and worth hundreds of millions.

Eldorado is en fuego, and worth billions.

Troubadour is en fuego, but still only worth $14 million.

What more do you need to know?

— Chris Parry

FULL DISCLOSURE: Not a client, though an investor with the company requested we look at it, and we agree it’s worth talking about. We’re buying on the open market. Consider us conflicted if you like.