http://www.mineweb.com/mineweb/content/en/mineweb-canada?oid=187170&sn=Detail
This fruit and veggie tycoon likes his Canadian juniors
Ernesto Echavarria begins to add to his portfolio in serious again this year with new names he counts himself an insider.
Author: Kip Keen
Posted: Monday , 22 Apr 2013
HALIFAX, NS (MINEWEB) -
It might be said he likes his fruit and veggies as much as his Canadian-based resource stock.
Ernesto Echavarria, a controling shareholders of a fruit and vegetable distribution company with operations in Mexico, the U.S. and Canada, added a six company to the list of publicly-listed junior explorers in which he owns at least 10-percent stakes.
Soltoro, a Vancouver-headquartered junior that has silver-zinc assets in northern Mexico, said this week that Echavarria bought 4.44 percent of the company's stock bringing to 14.43 percent his stake in Soltoro (and thus also making him a reporting insider.)
Echavarria's timing in his buys makes one wonder if he sees a market bottom forming in the Venture, or at least select names on it. Right or wrong this time round, Echavarria's last round of heavy resource-stock buying came in mid-2009 when the market had just started to rebound after the late 2008/early 2009 crash in resource stocks, among other things (like the economy).
Back then Echavarria went on a tear, becoming a 10-percent-plus insider in four publicly-listed resource stock in Canada between June and August 2009. Here by the date he became a 10-percent insider:
Rye Patch Gold - 2009-08-06
Redhill Resources - 2009-08-06
Animas Resources - 2009-06-04
Copper Fox Metals - 2009-07-16
After the mid-2009 frenzy, in between late 2009 and early 2013 he did not buy great amounts of stock in any other Canadian junior names to push him over the 10 percent threshold (though he continued to buy stock within the above names, Copper Fox most notably). In terms of shareprice performance, Rye Patch and Copper Fox appreciated over the period, the latter especially. The others, Animas and Redhill, did not fare so well, declining considerably.
Echavvaria's appetite looks to have been piqued again. In addition to Soltoro he became a 10-percent insider in Blackheath Resources in late February this year.
Topics: Ernesto Echavarria, Copper Fox, Soltoro, juniors, gold price, silver price
