Thoughts from Myron — A Contrast in Gold Miners
by takeprofits | April 20, 2014 3:43 pm
MYRON LOOKS AT GOLD MINERS IN NEW ZEALAND AND OTHER AREAS
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Source URL: https://www.stockgumshoe.com/2014/04/microblog-thoughts-from-myron-a-contrast-in-gold-miners/
I’m sure this question is answered somewhere else, but my search terms weren’t bringing up anything useful so I seem to be ignorant about how to find it; can someone point me to one or more discussion(s) regarding how to trade these stocks listed on foreign exchanges? I’ve been investing through brokerages for several years but haven’t ever bought an internationally traded company. Thanks for your help, and patience.
Also, so as not to commandeer this thread, I’ve created a discussion at http://www.stockgumshoe.com/?p=18542 for willing commentators. Thanks!
Technically I guess Canada is a foreign country, even for Americans, but as our biggest trading partner I find it puzzling that the U.S. brokers are so blind to the potential of Canadian Exchanges where the majority of junior miners get financed. I assume you are not a U.S. investor as MUX is listed in both New York and Toronto. Hopefully some experienced international investors can point you to the best of the International brokers and it would probably help if you disclosed what country you are trying to access the stock from.
I am a US investor. Is OceanaGold available here too? Sorry if I missed something.
Dom,
Oceana gold trades under OCANF for U.S. investors. It’s an OTC pink sheet listed stock.
YES, the OTC is the first exchange to check but a much better solution is to switch to a broker who can buy at the home listing for a stock and in terms of junior mining stocks the Canadian Exchanges are still #1, but many do have dual listings on American, British and Australian Exchanges.
Americans tend to confuse New Zealand with Australia–I had the good fortune to cross the Tasman in a cruise ship years ago, and retain a good feel for how far apart the two countries are. Culturally very different.
This goes back a few months when I first profiled Allied -Nevada but todays press release has it back on my CIBC Alerts as a percentage increase of 7% for the day, but still -61% for the yr. so if you didn’t buy when initially profiled you have another chance at a good entry point.
Since this column was again on gold miners it seems appropriate to provide this impressive update as an additional choice on a previously profiled “Best Buy” whose previous high was over $40. before the criminal manipulators started messing with the free market. This is quite impressive and shows how big the potential price rise could be: http://www.alliednevada.com/investors/news/pdf/4222014-1.pdf
Myron; Thank you for the link,,,I was not aware of silver potential here,,,I think silver is greatly undervalued & when it is fairly priced the move will be huge.
Myron
I just read that a class action lawsuit has been filed against ANV. How does this impact your recommendation of the stock?
Like short sellers, sometimes these lawsuits can be frivolous attacks and I would not be too worried when the stock is going up 7% in one day, but I will try to check it out.
Myron ; As always i look forward to you sharing your hard work with the group. I am also an organic gardener .Have you tried growing purslane and stevia?
Too bad we can’t plant gold seeds
Not sure whether stevia can be grown in Canada, never thought to check it out. Before we moved nearly a year ago we were on a farm with several acres available to us but it became too much work. Purslane was only one of dozens of weeds I couldn’t stay ahead of nut never knew it was edible, how would you prepare it, no need to plant it. Now that I am in town I have a much smaller garden so I am going vertical on chicken wire for such things as snow pears, beans and cucumbers. Hope I can get some things in this weekend after such a brutal winter otherwise I will be almost as late as I was last year.
Myron, I too am an organic gardener and eater. purslane grows wild here in my part of the world, so much so its invasive! Each flower can produce up to 40,000 seeds which remain active for up to 50 years. Be careful.
I also grew stevia and dried it. It has a bit of an aftertaste but works wonderfully if you steep a little with yr tea. If I used too much, I did get headaches from it. I went back to using reg cane sugar once I discovered that RedPath Sugar (available at Walmart) is still sugar made from sugar cane rather than genetically altered sugar beets, which is all other sugars unless the package states otherwise.
Good luck with your garden.
Sounds a little like Blue Agave which is 25 X sweeter than sugar and overuse also gives me headaches.
Myron; Stevia tastes to me much like sweetish alfalfa tea,,,Blue Agave seems much sweeter &more fruit sugar like to me. I think you could likely grow Stevia where Amaranth or Quinoa grow,,,,pigweed,,,,IE almost anywhere. Taste is quite subjective so some people experience much more sweetness than others in Stevia.
Are you suggesting pigweed is the same as Amaranth of Quinoa or just that they grow in the same climate? Pigweed grows 5 to 6 ft. tall here.
Amaranth is same plant as pigweed , Lambsquarter is Quinoa altho some also call it pigweed. Yes I think it likely Stevia should grow under similar conditions Pigweed makes delicious cooked greens if you use while plants are young & non Fibrous.
Hey Myron, thanks for the info. I had no idea about OceanaGold! THANK YOU Sir!! I knew (MUX) had phenomenal DNA. Can you tell me why Continental Gold (CGOOF) seems like it might be one of the last GIANT Gold Mines in South America ready for production come FY2016? Also wanted to know your thoughts on B2Gold [BTG] and SilverCrest Mining [SVLC]. Finally, I really wanted to know Myron, is Detour Gold, which has the largest Goldmine in Canada worth pursuing now that it’s more than doubled your initial recommendation entry point of $4.50 back in November worth buying now that it’s got a SOLID FLOOR OF $9.50-$10 because it’s only going to be producing 450,000 oz FYE 2014 and it’ll bump production 20% to 600,000 oz FYE 2015, but that isn’t much, and if our thesis about Gold Prices climbing back to $2,000/oz with, say, 1 year, then a company like Kinross Gold Corp, which produces a few Million oz/year and is trading UNDER $4/share seems like the wiser LT play? What do you think? Thanks for your commitment to this worthy cause of educating people about how the bastard filthy rich bankers and Naked Shorts from the Bullion Banks have been suppressing the Silver price for 60 years (actually it goes back hundreds of years to London) and the Gold price for 43 years now! It’s knowledge and knowledge is power…
log
what does log mean?
We can all learn from each other Stephen, I didn’t know that either.
Checking in.
Smart investors are contrarians and are buying stocks like Kinross and B2Gold hand over fist. Just as a gardener dosen’t get impatient when plants haven’t poked through the ground as quickly as he thinks they should and digs up the ground to see whether the seeds have sprouted, precious metals investors must also exercise patience. To be successful you must plan ahead, figuring 6 months to a year for a harvest once you have made an investment decision. You will never be a successful investor if you waste your money ripping up your plants every time the market has a hiccup. I would phrase your question on Detour a little differently. I agree that it now has a solid floor and may well become a target for takeover by one of the bigger companies, so still has room to run. If I could buy it at say $9. on a dip I would certainly do so, but I might not chase it up over $10. as others might take priority in buying order. Having been over $30. long before the mine was even built, and likewise I would add Allied – Nevada to the list as it was over $40. before the 2 years distortions, and has the productive capacity to become a big winner. All of us have financial limits of some kind, so buying the stock that gives the biggest “potential bang for the buck” just makes sense. For example, I had wanted to buy Continental Gold for over 3 years already, and my patience has finally been rewarded and under $5. I am prepared to wait until 2016 for a double, but it might be much shorter than that if the gold price takes off later in the year, so better a few months early than letting the price run away from you. Detour should be a lesson learned, don’t let OceanaGold become another one. The latest price was $2.73, up in spite of the landslide where no one was hurt and there is no effect expected on production due to stockpiled material.
Kinross was one of my favorite gold picks, althou I do not currently own it.
OCANF, Oceana gold is on a tear! Excellent Myron, you never disappoint!
Myron, any thoughts on Balmoral’s press release today? Isn’t it unusual for a bought deal to be issued at such a high premium to the market price of the security?
http://www.newswire.ca/en/story/1366839/balmoral-announces-4-0-million-bought-deal-flow-through-private-placement
Thanks for the input David: It may be “unusual” but Canaccord is a pretty savvy outfit and given the recent price action in BAR I would not bet against them, better establish a position before the price hits the $1.75 warrants price. I can only surmise that they believe a 5% commission plus the warrants will pay them handsomely as the price could easily double or triple again once the gold short sellers are finally forced to cover as the manipulation of the gold sector comes to an end, and I am confident it will before the year is over.
Ha, I’ve been in BALMF for a bit now, it’s appreciated to the point where the other day I was considering selling off a bit in order to rebalance and perhaps buy some of those bright, shiny new biotech offerings. I think I’ll stay a little over-weighted and let it play out for a while more.