Stockpools & Kitco put the fun back in investing
The boom and bust mining cycle can be a daunting obstacle for investors new to the world of mining and mineral exploration, but what if a potential investor could play the markets without risking their money? And at the same time, learn about the companies and the markets they might consider splashing a bit of cash on?
That was the genesis of the idea behind Stockpools, an online portal for stock picking that mimics the concept of fantasy sports like fantasy football and hockey.
“Stockpools is pleased to partner with Kitco, Red Cloud Klondike Strike Inc. and the featured companies for our biggest contest so far. Our objective is simply to educate players and highlight the various investment opportunities in the precious metals sector while providing a unique experience for the user”: Stockpools President Anil Mall
Since it began offering contests in 2012, the Vancouver-based startup has given away over $100,000 in prizes at no cost to participants, and has been growing in step with a surging junior resource market that has rekindled on the back of stronger metals prices after a tough few years. Its latest contest, co-sponsored by Kitco and Red Cloud Klondike Strike Inc., starts right after the New Year and players have been flocking to the site to register their picks in anticipation of bagging a share of the $12,000 in prize winnings, denominated in gold bullion.
Stockpools is the only site in the world to offer investors a risk-free platform to build a competitive portfolio and track their performance over the course of a contest (there are competitors, but unlike Stockpools, those sites are not free to play). Players can win gold bullion and cash prizes should their portfolio outperform the competition.
“We thought it was a good idea to be able to educate the investors without having them lose their risk capital – to help them to build confidence within the different sectors, and the companies therein, especially those up-and-coming,” says President Anil Mall, who was brought on board earlier this year by Stockpools founder and CEO Neil Currie, formerly of real-time stock quote website VantageWire.
“We bring investors in front of the featured companies, establishing interest in both the platform and the companies themselves,” adds Mall, whose resume includes stints with prospect generator Manex Resource Group and investment conference organizer Cambridge House.
So how does Stockpools work? Users simply set up a profile and choose the contest they want to enter. The contests include a mixture of Stockpools clients as well as up-and-coming companies. Users must make their picks before the contest starts, and may be allowed to trade their picks for the duration of the contest. The rules are different for each contest. At the end of the contest, the user whose portfolio gained the highest percentage wins the prize.
Since 2012 Stockpools has grown to over 9,000 users, with the majority of players in the millenial age range of 29 to 35. Most are in North America, though Stockpools has sent prizes worldwide.
Offered in partnership with Kitco Media and Kitco.com – the world’s largest precious metals web site –the Kitco 2017 Precious Metals Stockpicking Challenge starts January 3 and will run for nine weeks, culminating at the annual Prospectors & Developers Association of Canada (PDAC) conference in Toronto.
Participants will pick two companies in each of four categories and one company that trades over $1 on any North American stock exchange in the wildcard category. Players can trade their picks at the end of the week between market close on Friday until the market opens on Monday morning. New participants are welcome to join the contest during this time.
The contest will run between January 3 and March 3, 2017. The player who builds the top-performing portfolio on a percentage basis each week will be awarded half an ounce of gold bullion, with a total prize value of about $12,000, depending on the gold price. In the final week of the contest the top three players will each receive an ounce of gold.
Mall said Stockpools is happy to offer the contest in partnership with Kitco.com. With over 45 million monthly page views and a global reach, Kitco is one of the most recognized brands in precious metals and metals market information.
“Stockpools is pleased to partner with Kitco, Red Cloud Klondike Strike Inc. and the featured companies for our biggest contest so far,” he said, adding: “Our objective is simply to educate players and highlight the various investment opportunities in the precious metals sector while providing a unique experience for the user.”
Kitco said it is excited about participating with Stockpools.com in this fantasy stock-picking contest, which offers the site a chance to grow its user base, particularly among millennials:
“This partnership is bringing together a select group of companies in the precious metals resource space and giving our global audience an awesome opportunity to hone their trading skills on a risk-free educational platform. As a marketer, we are convinced that this stock picking challenge will engage and inspire participants to learn more about the resource industry and give them the chance to win real prizes in the form of weekly gold bullion rewards to top performers. Join now!”
The deadline to join the first round of the 2017 Precious Metals Stockpicking Challenge is 6 am (EST) Monday, Jan. 3, 2017. Enter at http://bit.ly/2ipfL1c All winners will be announced at the PDAC on Tuesday, March 7, 2017.