Author Topic: Where Can I Buy This Stock??  (Read 887 times)

joer1212

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Where Can I Buy This Stock??
« on: February 03, 2025, 07:34:14 PM »
1911 Gold Corp (AUMBF)

It's a penny stock belonging to a Canadian junior gold mining company. It's also a 'cyclical' stock that's currently way down, so I thought I'd throw a couple of thousand in play money to potentially take advantage of the volatility.

Google and A.I. claim that Robinhood sells AUMBF, but I just opened a Robinhood Roth IRA account, and when I went to buy it, it says the stock is not available for purchase. WTF??

So, I guess I went through the trouble of opening this account for nothing. It turns out that Robinhood is no different than my existing Vanguard and Schwab brokerages. 
« Last Edit: February 03, 2025, 07:36:16 PM by joer1212 »

bacchi

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Re: Where Can I Buy This Stock??
« Reply #1 on: February 03, 2025, 07:57:07 PM »
It's a Pink stock, aka as Over The Counter. Interactive Brokers allows trading.

It's pure speculation. Where did you receive this tip?

Radagast

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Re: Where Can I Buy This Stock??
« Reply #2 on: February 03, 2025, 09:40:59 PM »
I almost wrote a long rant a couple months ago about the folly of junior gold miners. But here’s the relevant part. My parents are both geologists. From childhood I recall a geologist buddy of theirs working for a junior gold miner had a story about the time prospective investors were visiting a prospect and the company seeded it with low quality cut gem stones. They showed the would be investors around saying “look a ruby! Wow that’s pretty nice. Here you can keep that as a keepsake. It’s pretty small but this is just the surface! We think there are some real beauts a couple hundred feet down.” The investors ate it up even though the deposit was supposed to be microscopic gold because apparently they were entranced by Snow White and the Seven Dwarves as children. Story likely dates back the the 80s or even 70s, but Mark Twain wrote “ A [junior gold/silver] miner is a liar in front of a hole in the ground” so extrapolate and see how you fit in the timeline.

ChpBstrd

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Re: Where Can I Buy This Stock??
« Reply #3 on: February 04, 2025, 06:44:10 AM »
Could it be that the stock is so illiquid and infrequently traded that there were no sell orders in existence for your brokerages to match with your buy order, and so you got the "not available" message? Trading volume yesterday was zero shares. Presumably you were trading during market hours, right?

If you see an ask price, and you see a bid/ask size published, then was your order smaller than the minimum size. E.g. Your broker could not match your order for 10 shares with the minimum of 50 shares your counterparty entered?

Or, it could simply be your brokers' policy not to let their customers get stuck in illiquid stocks, which are often unloaded onto retail traders by professional market manipulators or as part of pump and dump scams. Such customers tend to get angry and use up a lot of customer service hours demanding to know why they can't sell their shares, when the answer is simply that there's nobody in the world who wants to buy them. Then, the angry customers abandon their accounts with 18 unsellable shares of a penny stock and the brokerage has to spend money on the abandoned property process to get rid of the accounting mess. Review your terms of service or contact customer service to confirm if this is the case. Brokers often protect their customers from bad ideas, so keep an open mind about what they see that you can't see.


mistymoney

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Re: Where Can I Buy This Stock??
« Reply #4 on: February 04, 2025, 07:41:42 AM »
I think at one brokerage I had to ask and/or apply to be able to trade the OTC market. You couldn't just start buying you had to demonstrate something - knowledge, capital, I can't remember.

But google up your brokerrage and procedures for buying OTC in retail accounts.

Not that I want to encourage this trade - looks pretty risky.

joer1212

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Re: Where Can I Buy This Stock??
« Reply #5 on: February 04, 2025, 07:53:26 AM »
Could it be that the stock is so illiquid and infrequently traded that there were no sell orders in existence for your brokerages to match with your buy order, and so you got the "not available" message? Trading volume yesterday was zero shares.


Hmm, no volume? Not according to this:

https://finance.yahoo.com/quote/AUMBF/

Presumably you were trading during market hours, right?

No, it was after trading hours. Robinhood lets you place a trade order before the market opens, but I wasn't actually looking to 'buy'. I just wanted to confirm that the stock was available first, and got this message:

This stock is not supported on Robinhood






joer1212

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Re: Where Can I Buy This Stock??
« Reply #6 on: February 04, 2025, 07:59:25 AM »
I almost wrote a long rant a couple months ago about the folly of junior gold miners.

I had no intention of buying and holding speculative assets, like junior gold miners. I have my core investments for that (total domestic + total international stocks). I just wanted to throw a couple of thousand dollars, that I could afford to lose, hoping to capitalize on the massive volatility of these securities.

joer1212

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Re: Where Can I Buy This Stock??
« Reply #7 on: February 04, 2025, 08:06:35 AM »
It's pure speculation. Where did you receive this tip?

It was mentioned on a YouTube podcast by a prominent gold investor (forgot his name). He mentioned a few junior gold miners, and one of them was 1911 Gold Corp. He claimed that, in 2011, its market cap was in the billions, and is now only about "20 million".

I tried to confirm this, but all the data on this company goes back only a few years.

I later found out that 1911 Gold Corp formerly went by the name, " Havilah Mining Corporation". So I checked for the historical data on that, but couldn't find anything. But I figured the market cap of this company is low enough to have lots of room for growth, even if its market cap wasn't in the billions before.

« Last Edit: February 04, 2025, 08:17:32 AM by joer1212 »

joemandadman189

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Re: Where Can I Buy This Stock??
« Reply #8 on: February 04, 2025, 09:13:36 AM »
Looking at their website - they have 3 exploration projects and one "asset" the true north complex. The true north complex is only processing the existing tailings to recover gold, the underground is currently closed. The underground has been mined for over 110 years with an extensive existing underground network - think 100 year old mining practices. over the last year their stock has ranged from $0.06 to $0.20 currently in 20 cent range.

I work in mining and would not invest in this company, they are only making money from reprocessing existing tailings to extract gold, with recovery grades dropping since reprocessing began. the other exploration projects are just that. companies like this try to find the diamond in the rough, or show reserves that "could" be worth big bucks, polish up what they have and try to sell it to a major or mid tier producer. the problem is getting the mineral out of the ground at a price where they and all investors still make money. The last technical report was a Pre-feasibility study completed in 2016 when the mine had a different owner. That report showed tailings processing stopping in 2023. The lack of recent technical reports is a concern.

If gold spikes you could make some money speculating

JAYSLOL

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Re: Where Can I Buy This Stock??
« Reply #9 on: February 04, 2025, 09:53:55 AM »
It's pure speculation. Where did you receive this tip?

It was mentioned on a YouTube podcast by a prominent gold investor (forgot his name). He mentioned a few junior gold miners, and one of them was 1911 Gold Corp. He claimed that, in 2011, its market cap was in the billions, and is now only about "20 million".

I tried to confirm this, but all the data on this company goes back only a few years.

I later found out that 1911 Gold Corp formerly went by the name, " Havilah Mining Corporation". So I checked for the historical data on that, but couldn't find anything. But I figured the market cap of this company is low enough to have lots of room for growth, even if its market cap wasn't in the billions before.

If it’s being mentioned on a podcast or YouTube or whatever, it’s a 99% chance it’s an undeclared paid promotion by the mining company to up their stock. I would avoid.

https://m.youtube.com/watch?v=-Q3g-6jFl2c

joer1212

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Re: Where Can I Buy This Stock??
« Reply #10 on: February 04, 2025, 03:59:12 PM »
It's pure speculation. Where did you receive this tip?

It was mentioned on a YouTube podcast by a prominent gold investor (forgot his name). He mentioned a few junior gold miners, and one of them was 1911 Gold Corp. He claimed that, in 2011, its market cap was in the billions, and is now only about "20 million".

I tried to confirm this, but all the data on this company goes back only a few years.

I later found out that 1911 Gold Corp formerly went by the name, " Havilah Mining Corporation". So I checked for the historical data on that, but couldn't find anything. But I figured the market cap of this company is low enough to have lots of room for growth, even if its market cap wasn't in the billions before.

If it’s being mentioned on a podcast or YouTube or whatever, it’s a 99% chance it’s an undeclared paid promotion by the mining company to up their stock. I would avoid.

https://m.youtube.com/watch?v=-Q3g-6jFl2c

Watched the video. Very enlightening. Thanks. It prompted me to search for the YouTube video that persuaded me to look into 1911 Gold Corp. It's timestamped (relevant part is from 9:39-10:57):

https://youtu.be/BGf1mdZIz6w?si=SvPN-VMjLfpjgh61&t=579



« Last Edit: February 06, 2025, 12:06:04 PM by joer1212 »

joer1212

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Re: Where Can I Buy This Stock??
« Reply #11 on: February 04, 2025, 04:04:58 PM »
Looking at their website - they have 3 exploration projects and one "asset" the true north complex. The true north complex is only processing the existing tailings to recover gold, the underground is currently closed. The underground has been mined for over 110 years with an extensive existing underground network - think 100 year old mining practices. over the last year their stock has ranged from $0.06 to $0.20 currently in 20 cent range.

I work in mining and would not invest in this company, they are only making money from reprocessing existing tailings to extract gold, with recovery grades dropping since reprocessing began. the other exploration projects are just that. companies like this try to find the diamond in the rough, or show reserves that "could" be worth big bucks, polish up what they have and try to sell it to a major or mid tier producer. the problem is getting the mineral out of the ground at a price where they and all investors still make money. The last technical report was a Pre-feasibility study completed in 2016 when the mine had a different owner. That report showed tailings processing stopping in 2023. The lack of recent technical reports is a concern.

If gold spikes you could make some money speculating


Agree. I would not make this stock a buy-and-hold investment. It's only for speculation. It could spike dramatically (it already went from $0.11, when I started looking at it a couple of weeks ago, to $0.16 today), and I'd dump it once it reached a predetermined price, though liquidity is a concern (this is probably true for most companies in the junior mining sector).

My other (speculative) junior gold mining holdings are Jaguar Mining (JAGGF) and VanEck Junior Gold Miners ETF (GDXJ).
« Last Edit: February 04, 2025, 05:07:59 PM by joer1212 »

joemandadman189

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Re: Where Can I Buy This Stock??
« Reply #12 on: February 05, 2025, 10:50:54 AM »
Looking at their website - they have 3 exploration projects and one "asset" the true north complex. The true north complex is only processing the existing tailings to recover gold, the underground is currently closed. The underground has been mined for over 110 years with an extensive existing underground network - think 100 year old mining practices. over the last year their stock has ranged from $0.06 to $0.20 currently in 20 cent range.

I work in mining and would not invest in this company, they are only making money from reprocessing existing tailings to extract gold, with recovery grades dropping since reprocessing began. the other exploration projects are just that. companies like this try to find the diamond in the rough, or show reserves that "could" be worth big bucks, polish up what they have and try to sell it to a major or mid tier producer. the problem is getting the mineral out of the ground at a price where they and all investors still make money. The last technical report was a Pre-feasibility study completed in 2016 when the mine had a different owner. That report showed tailings processing stopping in 2023. The lack of recent technical reports is a concern.

If gold spikes you could make some money speculating


Agree. I would not make this stock a buy-and-hold investment. It's only for speculation. It could spike dramatically (it already went from $0.11, when I started looking at it a couple of weeks ago, to $0.16 today), and I'd dump it once it reached a predetermined price, though liquidity is a concern (this is probably true for most companies in the junior mining sector).

My other (speculative) junior gold mining holdings are Jaguar Mining (JAGGF) and VanEck Junior Gold Miners ETF (GDXJ).

Newmont currently has a 28+% upside to is prior high in October 2024