written by reader Thoughts from Myron—October is Prospect Generator Month

by takeprofits | October 18, 2013 5:06 pm

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Source URL: https://www.stockgumshoe.com/2013/10/microblog-thoughts-from-myron-october-is-prospect-generator-month/


52 responses to “written by reader Thoughts from Myron—October is Prospect Generator Month”

  1. Alan Harris says:

    No typo….I was referring to your warning not to be spooked into selling early due to some irrational, anti-fundamentals dip.
    Oh and don’t forget, UK is 6 hrs ish ahead, so I’m enjoying a breakfast of Myrons 12hr old brain cells while watching after-hours US trading and UK opening, while you are still dreaming of shiny metal hitting $10k oz 🙂
    Natch, your assessment is yours alone. I consider the opportunity to share your musings as the privilege of being allowed to ‘look over your shoulder’…….NOT NOT NOT as direct instructions/advice as to what we should do with our money. ANY risk that others may take with their money by copying your moves, is theirs alone. But until we have earned our MBA stripes, the only sensible way to measure the results of our own DD/assessment, is to compare them against the professors’. Who knows, if there are apparent discrepancies, we may yet give you cause for reflection.

  2. Alan Harris says:

    Received this tonight from Sara Nunally: Fission Uranium Corp. (TSX-V:FCU)
    This morning, the company announced that it closed a private placement offering of 7.5 million subscription receipts at $1.50 apiece. That’s a total of $11.25 million in gross proceeds. This money will fund the company’s Patterson Lake South resource as it takes over 100% of the deposit in a deal with Alpha Minerals.
    Each of these receipts is redeemable for one share of the company’s stock once the company moves out of escrow.
    If folks are paying $1.50 for a chance to get into FCU in December, what price do they think FCU shares will trade for then? Investors are paying a 34% premium to current prices.
    And here’s more fuel to the fire. The underwriters (a group led by Dundee Securities and including Macquarie Capital Markets) exercised their option to more than 1 million more shares at $1.50. That shows a lot of confidence in both FCU and the PLS resource.

    At present 1.08…..Is that a Buy Myron?

  3. takeprofits says:

    You can’t “BUY Myron” even if you wanted too Alan, I am not for sale, HAR> HAR!
    However, anytime you can buy shares UNDER what the big boy financiers are paying, you should have a pretty risk free investment all things being equal. Just my personal quirk, but when a stock has already had a considerable run up, in this case due to an “initial discovery”, I prefer to buy the stocks with nearby acreage that are selling for one quarter the price or thereabouts, that way a new discovery can quickly give you a double or triple. Of course there are no actual guarantee’s. on the other hand, neither is it guaranteed that an initial discovery will lead to an economically viable mine, or what financing cost to do so will do to the stock price getting diluted by further necessary financings.
    For the record, if you review previous columns you will see that I mentioned numerous companies with huge acreages surrounding the Alpha/Fission discovery that have also had good exploration results, just not as advanced, but give them time. In alphabetical order, here are the companies with Patterson Lake South holdings.
    Athabaska Nuclear, ASC-V(OWN), Azincourt Uranium, Lakeland Resources, (on buy list) Lucky Strike, Noca Resources NX-V (own) Skyharbour Resources (OWN) biggest and most advanced of the lot, but ASC/NX/Lucky Strike and Skyharbour have formed a consortium to reduce exploration expenses and a buy-in of 25% into any discovery on any of the 4 Co’s
    properties, of which some are multiple. Those are the major players, but several more have recently bought property in the area and I am watching developments in the basin closely and will report on any news of interest. Read Sara regularly, she has had some good picks.

  4. Alan Harris says:

    I hear you re nearby sites. But I don’t have enough knowledge to know how localised deposits are. Does mining history indicate that if you have a strike, other sites nearby will likely also have deposits ?

  5. qwa2 says:

    I at least did open tiny spec positions in both Globex and Eurasian as I am quite new to such lower value stocks… Just a first foray here.

  6. seamles says:

    Hi Myron,

    I’ve been searching for some good penny stock profilers and an so impressed with the work you do. I can’t believe I thought about spending money on anything else. Stock gumshoe is definitely the best place to learn and hear great picks.

    My question is, I think I found your personal website and saw you have top 12 core holdings. Do you recommend if I am just now investing to start with those or the ones you profile here? I know I should do my own research too but an very new to the game.

    Thanks for all your writing and any help us appreciated.

  7. Alan Harris says:

    You clearly think the crash is coming. Obviously bullion will be handy if $ bills become wallpaper. S how have Junior minders/gold fared during other crashes?

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