Thoughts from Myron—Junior Miners on the Move
by takeprofits | August 30, 2013 10:17 pm
A BALANCED PORTFOLIO
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Source URL: https://www.stockgumshoe.com/2013/08/microblog-thoughts-from-myron-junior-miners-on-the-move/
Myron, your prediction of the stock rising again came true quickly. Glad I doubled down at .63, I’m almost “whole” again.
Great Steve, really was devastated at thinking some subscribers might have bought the stock at the price it was at when the column got printed, even though nobody reported doing so at the time. The lesson to be learned is that we can never be sure the facts we have available to us at a given point in time will hold up long enough for a play to become immediately profitable.
All we can do at this stage is monitor the news as it develops and take some of the investment off the table when the opportunity presents itself as I have done. You can never go wrong taking a profit and if negative news brings the price back down on another “knee jerk reaction” I will again increase my stake. I can not make a prediction as to what the stock will do going forward outside of new information. My best guess is that the worst that will happen is that there are further delays in development and further oscillations in price based on any significant actions by parliament or Gabriel resorting to a lawsuit as threatened if the drafted legislation is not passed. Hopefully you will still come out with a decent profit.
Perhaps it does need a bit of clarification. I doubled up at 0.75 because the info that the Government of Romania voted against the mining project did not worry me that much. In fact like others I saw it as an opportunity to make a profit.
However when I heard that there were large protests from the people who live in this area, namely the Romanians themselves, I wondered if this is the ‘ethical’ thing to do. Do we know better what ‘the Romanians’ need or want? Sure you can argue this point any way you want.
I do not know if the Romanian government is just playing games with Gabriel to get a better deal, by letting them know we can influence the stock market price.
I do not know, if the protests have been staged even by the government itself so they had a better position for future negotiations.
The question I find myself faced with is this:
Do I want to invest in a project in a foreign country if the probability exists that the project is not in the interest of the people who live in this country?
Some of us seem convinced that this project is in the best interest of the ‘Romanians’, but do we really know or do we just play ‘God’.
We always seem to know what is in the BEST interest of others, but perhaps we have mixed things up a bit.
Perhaps our own interests come first and then we dress it up as ‘Best Interest of Others’.
Anyway, I seem to be the only one at present faced with this ‘ethical question’.
Thanks for your comments above. It is always helpful to be challenged.
Have a pleasant day everybody!
Thanks for your clarification. I appreciate the ethical dilemma, but where do you stop with it. Do you stop investing in US gas/oil coz fracking can cause earthquakes and pollute the water supply. Is China’s urbanisation programme ruining lots of farmers’ established way of life. Indeed, does the whole process of farming and fences limit peoples rights to wander o’er hill and dale and enjoy the view. In UK there’s a huge debate about ‘rich’ people investing in property to rent out, inflating prices so that our youngsters cant afford to buy a first home. But if they stopped, so would the building of new homes for them to live in. There are two sides (at least) to every change.
So are you really saying that you wont invest because you ‘feel’ for these people……or because you fear their opposition presents too greater risk to your money.? The latter doesn’t sound much like an ethical dilemma.
It’s for their ‘responsible’ government that they elect to decide what’s in the whole country’s best interests……….and 6 bil certainly IS interesting ! Im not sure playing King Canute and ordering the waves to recede, will carry the day.
But I do understand the dilemma.
Change of subject. Does anyone have any more information on Alexco Resource Corp. (AXU)??? After the ‘unexplained’ up that Myron mentioned, I have been keeping an eye on them. They seem to have come back down to earth at this time. Still would like to know what made them move up in the first place.
Hi Myron!
Great work! I invested in Endeavour when they were <1cnd and sold at 13 and that is the way to go. Have You ever looked at Black Mountain Resources? They IPOed at CND 0,30 and are down around 0,13 at the moment. They have impressive grades and are in limited outsourced production from one of their 3 mines!
Thanks for this Michael, of course no one analyst can cover the thousands of juniors out there adequately and my excuse for not being familiar with this one is because it does not have a N. American listing, even though their resources are in Montana and Utah.
Did a quick browse through their website and must admit it looks impressive at first glance. It would have fit in well with my latest “Focus on Silver” column which should be published by Wed. but without a N. American listing I am not inclined towards profiling it at this time. For those able to buy on the British or Australian Exchanges I think it is worth a serious look.
Myron
Do try to remember youre Global now………… try to acknowledge the big picture. 🙂
I may from time to time comment on any big news that is globally significant, and I certainly welcome input from readers no matter where they are domiciled, my point was that I need to take care of immediate business FIRST that will serve the most people. I can’t possibly cover even all of the miners on Canadian and U. S. Exchanges, so that will remain a priority, but when I come across a particularly impressive story about a company listed on foreign exchanges, I will try and share the most pertinent details as time allows.
What do you expect me to do Alan, work 24/7? Thats in response to your smile.
I’ll send a message via GS central as this could get off topic.
Hi Myron, regarding buying gold on dips in September, do you think LODE or IAG a good buy now?
From elsewhere: SilverCrest Mines Inc. (NYSE:SVLC) In about 10 days, the company will be releasing the preliminary economic assessment (PEA) of its La Joya project down in Durango, Mexico. This project is bigger than SVLC’s flagship mine, Santa Elena, and already analysts are saying SVLC is too conservative regarding its potential.
Hi Myron – Not very likely that this is news to you, but trading in NAN and VMS is halted pending news – looks like those Greenland assay results are about to be released.
The tough decision is going to be getting the information early enough to get an additional order filled at a reasonable price when the trading ban is lifted, or making a decision to submit a stink bid sell order to catch an intraday high and buy back in when the euphoria settles down. I doubt that I will be selling under a dollar as I am very confident there would not be a cease trade order unless the news was very positive. Probably lots more to come, meeting at the King Eddy was very positive, made some excellent connections for future business.
Myron, thanks for confidence in BALMF, good I did not sell it, already up on it today. Do you still feel very confident on VTIFF?
Yes Seven I have great confidence in Balmoral as a longer term exploration speculation. Management is very competent and well financed. I note that you are buying on the OTC market which I try to avoid, you will get better prices and in particular liquidity by buying on the home listing. I understand you may have to consider switching brokers, but that also could save you some money. In regards to Valdor, this one I expect to take somewhat longer to play out positively but yes I have faith in management that they have all their ducks in line and know what they are doing. Big returns immediately are not likely, but a small position positions you for when it begins to move. Just a reminder, I give every stock at least 6 months and as long as nothing negative is happening with the company I will continue to hold for a payoff. Just because I don’t comment on a stock every issue is no reason to panic, if I think I stock is not worth holding any longer I will issue a SELL, I won’t leave you hanging.