The TSX Venture Still Needs to Lose Juniors: Mickey Fulp

Back in March, Mercenary Geologist Mickey Fulp told Resource Investing News that most juniors “are still in a world of hurt,” adding, “a bunch of them need to go away” — 500, to be specific.

Nearly a year later, Fulp hasn’t seen that happen to the extent that he’d like. “We’ve seen it happen a little bit, but once again it’s not fast enough for me,” he said in a recent interview. “What we’ve seen is companies go into default, but they’re not being delisted from the Toronto Venture Exchange, and that really needs to happen in my opinion.”

The reason? “There’s only probably 200 good projects in the world, and if you have 1,600 juniors, there are just not enough good projects to go around.”

On the bright side, Fulp pointed out that the current market presents buying opportunities for investors. “This is the time of the year when … generally the Toronto Venture index will hit if not just a seasonal, oftentimes a yearly low, and we’ve seen that again,” he explained, also noting, “for me that presents a buying opportunity for companies that are strong and have good management, good projects, good share structure.”

He continues to be fan of Avrupa Minerals (TSXV:AVU) and Uranium Energy (NYSEMKT:UEC), and said in terms of commodities he’s “always a uranium bull.”

Watch the video below to find out what else he said.

Securities Disclosure: I, Charlotte McLeod, hold no direct investment interest in any company mentioned in this article.

Editorial Disclosure: The Investing News Network does not guarantee the accuracy or thoroughness of the information reported in the interviews it conducts. The opinions expressed in these interviews do not reflect the opinions of the Investing News Network and do not constitute investment advice. All readers are encouraged to perform their own due diligence.

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