Our investment target in Alexco Resource Corp. was reached on 27 August 2019. We exited at U.S. $2.43 for a return of 87%. We added to our position in Equinox Gold Corp. on 20 September 2019, raising its weighting in the NuChem International Catalyst Fund to 8%. Subsequent to the release of an updated PFS, we raised our target in Vista Gold Corp. from U.S. $5.44 to U.S. $5.50. On 26 September, we initiated a position in Black Iron Inc. Fahy Capital Management does not have any additional Q3 Updates to report.
We cover up two classifications of things: Things we don’t want understood. Things we don’t understand. We hire professionals to cover up the things we don’t want the public to understand, and we enlist the public to cover up the things that we don’t understand. It is at the intersection of the public aggregate and the unknown that the fairy tale is born. Hence the need for fairy tales.