Denaliguide Summit

The Kamikaze Lemonade Approach

Denaliguide Letter — September 15, 2026
© Nick Migliaccio

Welcome back from the lunar cycle from hell.

The “crazy moon” begins on September 18 and runs until the 26th. What a difference six months can make!

Locked In—or Locked Out?

Markets often settle into trading ranges, bouncing between support on the downside and resistance on the upside.

That seemed to be the correct assessment when this grief began. By February, however, we knew something else was happening. Margin increases, portfolio rebalancing and other unnatural forces had disrupted the usual pattern.

Small and cold comfort, eh?

The dilemma is familiar:

Do you take your profits now and risk missing the next great run that commentators keep predicting?

Or do you continue holding and risk watching those profits disappear as prices move deeper into correction?

Those are the horns of the dilemma.

Return to the Scene of the Crime

Perhaps we should approach the market like homicide detectives assessing a crime scene. It is a well-established idea that criminals sometimes revisit the scene of their crime.

So, what does that have to do with investing?

When I ran a trapline, my sets stood like silent sentries at the junction of two trails. They waited there to capture the quarry—perhaps profits, in this case—without requiring me to stand watch every minute.

Look back to where the latest market run began. Note the price from which it emerged. That price may help you identify where a correction could finally stop.

Suppose you anticipate that a stock might bottom at $5. You could place a limit buy order at $6 rather than trying to catch the exact bottom. It has worked before. You decide whether it suits your strategy and risk tolerance.

I think of this as a fire-and-forget order—good till cancelled, or perhaps left open for 30 days. If it fails to execute, you can cancel the order and reconsider whether to buy the stock near that price.

I recently chose a very aggressive entry price for one of my limit orders. The stock never reached it, so the order failed.

I fear not.

It may still get there, or it may not. That is why this is hunting—not shopping.

There is nothing especially complex or sophisticated about it.

What Is Plan B?

During the long years of price manipulation and suppression in precious metals, I used what I call the Kamikaze move several times.

At the end of a long and discouraging decline, I looked for stocks that appeared to belong in the junkyard rather than on an exchange. I selected one or two wrecks, bought them near cyclical lows, held them through the recovery and took the profit when it arrived.

Basically, when the market gives you lemons, make lemonade.

This is my Kamikaze Lemonade approach.

It is speculative, and it is certainly not for everyone. Junior mining stocks can be volatile, illiquid and capable of producing substantial losses. But several silver juniors are now showing what I consider encouraging resistance to further declines, along with possible upside price objectives.

I also consider their jurisdictions carefully. A promising deposit is not enough if the political or regulatory environment is hostile.

Silver Juniors on My List

My list includes:

• Silver X Mining — AGX.V
• Silver One Resources — SVE.V
• Hercules Metals — BIG.V

Hercules has already experienced a significant price increase, but it continues to operate in what I consider a comparatively safe jurisdiction.

Your list may be different—and it should reflect your own research.

Gold Remains the Main Event

The centre of gravity in my portfolio remains promising gold juniors.

I am interested in companies with substantial deposits, active production or meaningful bulk-sampling programs.

Gold remains the main event because every institutional entity grasping for power understands that it needs gold.

Among the companies currently on my radar are:

Borealis Mining — BOGO.V

Borealis bounced back after taking a heavy downward hit. It has now returned to my Hit Parade of juniors with potential upside.

Amex Exploration — AMX.V

Amex is developing its Perron gold project near the Quebec–Ontario border.

Hemlo Mining Corp. — HMMC.TO

Barrick sold the Hemlo operation, and the new owners appear to be making progress. I like what I see.

Talisker Resources — TSK.TO

Talisker is working in British Columbia, rejuvenating the historic Bralorne complex and advancing the Mustang Mine.

Those were the entertaining, relatively straightforward choices.

Now for the brain teaser.

The Starr Peak Question

Starr Peak Mining — STE.V acquired approximately 1,420 hectares next to the Perron property being developed by Amex.

For the rest of us, that is about 14 square kilometres.

Both Starr Peak and Amex sit along the Normétal Fault in a historically active mining district. Starr Peak’s property also includes the site of a former mine.

Whenever I fear a trade, it often seems to turn out well.

Rather than waiting for STE.V to go viral and disappear into the stratosphere, I took a position comparable to my original entry into AMX.V.

Now we wait to see how it goes.

Each of these companies passes my personal sniff test, and I like what I see in their charts. That does not mean they are guaranteed winners. It simply means they have earned a place on my watchlist—and, in some cases, in my portfolio.

There you have it.

GH

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Important disclaimer: The Denaliguide Letter and Bulletin is presented for educational and entertainment purposes only. Nothing in this letter is personalized financial or investment advice. Please conduct your own due-diligence investigation and consult a qualified financial professional before giving your money to anyone or making an investment decision. Junior mining and exploration stocks are highly speculative, and losses are part of this market. Exercise care. Denaliguide and/or associates may hold long or short positions in any of the securities discussed.