Gold and Silver and Hard Assets after Trump’s Inauguration…2017MAKE YOUR PORTFOLIO GREAT AGAIN !
This thread is a continuation of several threads posted previously by the author on gold and silver and hard asset investments. I am still a believer in hard assets. I also believe we are entering a period of inflation with continued dollar devaluation, higher interest rates, and a sluggish economy with chaotic dislocations. I believe there will be a lot of uncertainty and high volatility.
PURPOSE My intent is to find and discuss good mining and commodity ideas. Gold and silver remain a focus, but I want to achieve a more balanced approach still based on tangible commodities.
STEEL and IRON ORE…I believe Trump’s programs will benefit iron ore and steel. Stocks in this sector have been beaten down terribly but are rebounding. I am long VALE, a Brazilian company which is the world’s largest iron ore producer. I have been long Arcelor Mittal but do not have a position at the moment. Anybody know anything about cement and asphalt ?
COPPER, ZINC, PGM METALS…My very best conviction stock is Ivanhoe Mines IVPAF. I am completely comfortable with a large single position in IVPAF to cover these metals. However other investors may be uncomfortable with a small cap in sub-Saharan Africa. So I think it is beneficial to introduce other names even though I myself am not interested. Rio Tinto, Freeport-McMoran, Teck, Turquoise Hill, BHP and others come to mind. Travis, our host, is long Altius Minerals, and I have been also.
URANIUM…I’m bullish but the choices seem pretty limited. My top three investment-grade choices are Cameco first, then Cameco second, or my third pick would be Cameco. After that, you are speculating on small caps, or buying ETFS or funds comprised of Cameco and some small caps. At the moment, I am long Cameco and UEC.
LITHIUM…I am considering a long position in lithium. I have nothing to recommend at the moment, although I am strongly considering Galaxy, an Australian company. And I like Neometals, also an Australian, but it is difficult to get from my broker, who hates it when I want to buy obscure 50 cent companies on small foreign exchanges. If anybody’s got a great battery play, I am interested.
POTASH/FERTILIZER…very interested but they all seem pretty expensive. There has been consolidation but I have considered Agrium, Mosaic, and there is a German company whose name I forget at the moment (K&D? K&S?).
OIL AND GAS…I would like some very good conviction picks accompanied by strong reasons and decent research. This field is so big, we could get completely lost just tossing names around. I am somewhat worried about price weakness in the energy sector but feel that it is worthwhile to develop a point of view on a few companies. I have little experience although I made very good money in the past on XOM and CVX. Currently I would be interested in pipelines, LNG, or any other sector that someone knows something about. In natgas I like OGZPY.
SOLAR and WIND…really not too interested. The results depend too much on politics, the time frames seem too long. But I am not completely closed-minded on it if you have conviction on something.
COAL…same opinion as solar and wind, but the prices are low and depressed instead of hyped and high-flying. I am still stuck with some defaulted Arch Coal bonds that my financial advisor recommended. They went to ZERO. Now they are worth a Starbucks latte and a pastry. And no espresso shot in the latte, either.
AGRICULTURE…very interested. A large sector but really not too many choices if you rule out futures, like I do. I have a few obscure favorites, but no positions at present:
WHGPY (Chinese pork processor who bought Smithfield)
LAND (Gladstone Land, California farmland)
INCPY (Input Capital, a Canadian canola, streaming model).
Open to more conventional picks like ADM and DBA.
GOLD AND SILVER…my picks have been discussed at length previously. I follow these pretty closely. I am long royalty/streamers SAND, FNV, SLW, and OR; miners PVG, MAG; developers SA, CLASF, MRDCF, BALMF, KNTNF, and LXVMF; and I own PSLV and physical bullion. I swing trade big caps ABX and NEM.
****
DISCLOSURES. I am a retired executive and an amateur investor. I like both fundamental and technical analysis. I am a medium-term to long-term position player and prefer to discuss stock investment in that context. Please no minute-by-minute reports that oil is now 52.50 down 10 cents and the Iranians may suspend Ramadan next week so you are going long until the afternoon bell.
I am not an expert in any of the commodities discussed nor am I qualified to give advice.
Everyone makes mistakes and I make more than my share.Sometimes I change my mind.
When I post, I express my opinions and my positions. These are just that…they are my opinions and my positions. They are not advice or recommendations, which I remind you I am unqualified to make.
Opinions and positions are subject to change at any moment. That is quite unlike the pig-headed and foolish political convictions everybody carries around adamantly, and which change only rarely for unpredictable reasons that have nothing to do with logical thought or reasoned discussion.
Because of this, political developments can be introduced on this thread only when they have a clear bearing on the commodities or companies under discussion.
You are responsible for your decisions, and I am responsible for mine. Caveat emptor.
I would like to operate in a friendly, honest, and constructive atmosphere.
As thread moderator I reserve to myself the role of referee, censor, arbiter, and Grand Poobah, subject to the over-arching authority of Travis, who owns the site and who has on occasion exercised his right to ruthlessly censor and suppress my radical blatherings.
This is a discussion topic or guest posting submitted by a Stock Gumshoe reader. The content has not been edited or reviewed by Stock Gumshoe, and any opinions expressed are those of the author alone.
$UEC – I’ve been getting these updates fr Mehran at UEC on the Uranium spot price. Nice move up today, update follows;
late in the afternoon today we saw the spot price move back over $24/lb (this is also the month-end price). Volumes are still low, stay tuned and we’ll see how the rest of the week shapes up.
Mehran
Broker Average Price
Date UxC BAP UxC BA Bid UxC BA Offer
28-Feb-17 $24.50 (+2.06) $24.00 (+2.00) $25.00 (+2.12)
Griffin, I’m not a commodity guy but I’m making my first investment in Uranium. Western Uranium Private Placement. My partner has been talking to most Uranium companies CEOs in the last 6 months and has even written a 25 pages thesis on the subject. he loves it. Cameco cutting output is a huge +++++.
I’m not really a Uranium guy. To help HN and track the noise on the Uranium bull, I subscribe to the UEC mailing list. I also have a Cobalt stock that has some uranium property, seems someone was looking for gold and found uranium. There have been some interesting programs on PBS tv on the nuclear option. There has been a lot of design work done on nuclear reactor plants. They have one design that will eliminate the nuclear energy waste that is buried in the Sierra Nevadas.. Nuclear is a better alternative than coal&oil.
Uranium…I am the same, I have a nice position in UEC with a gain strictly, as a marker to keep me aware of the big move…if it ever happens; and a half position in CCJ, in just over $11. Just to keep my toe in the water.
Showdown in Indonesia brings world’s biggest gold mine to standstill
Submitted by cpowell on Tue, 2017-02-28 12:52. Section: Daily Dispatches
By Krithika Varagur
Voice of America, Washington
Monday, February 27, 2017
JAKARTA, Indonesia — The American mining company Freeport-McMoRan has brought the world’s biggest gold mine, in the Indonesian province of West Papua, to a standstill. The corporation is butting heads with the Indonesian government over protectionist mining regulations. And now that Freeport has started to dismiss tens of thousands of workers, the local economy is poised to take a huge hit. In Mimika Regency, the West Papua province containing the Grasberg gold mine, 91 percent of the Gross Domestic Product is attributed to Freeport.
Freeport Indonesia abruptly stopped production on February 10 and laid off 10 percent of its foreign workers. It employs 32,000 people in Indonesia, about 12,000 of whom are full-time employees. The freeze was a reaction to a shakeup in Freeport’s 30-year contract with the Indonesian government, signed in 1991. Indonesia has tried to levy additional obligations from Freeport in an attempt to increase domestic revenue from its natural resources. Freeport retaliated last week by threatening to pursue arbitration and sue the government for damages. …
… For the remainder of the report:
http://www.voanews.com/a/showdown-in-indonesia-brings-gold-mine-to-stand…
I can’t say that I’m surprised. The government has not wanted us to know what is (or isn’t) there…
U.S. Mint flunks Koos Jansen’s gold audit document request, refunds his fee
Submitted by cpowell on Sun, 2017-02-26 23:53. Section: Daily Dispatches
6:54p ET Sunday, February 26, 2017
Dear Friend of GATA and Gold:
Gold researcher Koos Jansen reports tonight that the U.S. Mint has provided him with some documents in response to his freedom-of-information request for documents related to audits of the U.S. gold reserve but the documents provided are incomplete, redacted, and hundreds of pages short of the number of pages he was told were involved for which he was charged, and so the Mint has refunded his payment.
As the money for his payment was raised by crowdfunding from his readers, Jansen is refunding their contributions.
This is more proof that something dishonest has been going on with the U.S. gold reserve.
Jansen’s report is headlined “U.S. Mint Releases New Fort Knox ‘Audit Documentation’ — the First Critical Observations” and it’s posted at Bullion Star here:
https://www.bullionstar.com/blogs/koos-jansen/us-mint-releases-new-fort-…
CHRIS POWELL, Secretary/Treasurer
Gold Anti-Trust Action Committee Inc.
CPowell@GATA.org
Smells of financial fraud by a government that has proven it cannot be trusted.
How much have they either co-conspired, or ignored the silver manipulation (for decades)?
Outlook on Ivanhoe…no one likes to show a loss in a big position but I have to say I am really not concerned and look at the present downdraft as an opportunity to add to my position. Here are my reasons:
There are no changes whatsoever on the company. It is absurd to think that the inherent value in the company has decreased by 20-25% in one week. The market cap is $2.5 billion…which is still bargain territory in my book for the copper deposit alone. They are moving with all possible speed towards production on the Kamoa/Kakula deposit.
Their main problem is deciding how big a mine to build. Their published figures show a cost per pound of less than 50 cents per pound.. The mine would be hugely profitable with $1.50 copper, and will have tremendous leverage with price increases should inflation come.
Take a look at the revised PEA. The income from the forecasted production makes my hair hurt because of all the zeros. The numbers are astronomical.
Note also the map of the deposit. It clearly is going to extend for an indefinite amount beyond the known area they have drilled. The map of the drilled area looks like half of giant caterpillar that has been arbitrarily cut off somewhere in its midsection. How far it goes beyond the drilled area is a speculation, but my guess is that reserves may be twice as high as they currently show. But we will probably not know for years because there is no reason at this time to go to the expense of defining the extent of the deposit. Who cares though, when you already have proven reserves that will last 100 years ?
They will drill as they need to, depending on their desire to document reserves. As it stands they have decades and decades of reserves at high production levels. This mine will be producing copper when your grandchildren are senior citizens.
If we stay focused on copper alone, we have comfort that even in a worldwide economic downturn or deflation, the Kamoa/Kakula operation will be among the last mines standing on account of their superior low costs of production and rock solid financial position.
***
That is just the copper deposit. The book value of the Platreefs multi-metal deposit in South Africa is by itself equal to the current market cap of the entire company.
And I do not have a grip on the Kipushi Big Zinc deposit…but it is also very far along in development, the mine shaft and access are built, and the thing is twice the grade of any other existing zinc mine and will be a profit bonanza for whoever decides to start production.
***
In summary, I am irritated that the stock has lost a dollar in the last month but my outlook is not at all affected. Ivanhoe is a bargain. It helps when your original entry is at 80 cents or 1.00 or 1.40. But wherever one has entered, the long term prospects are the same. One just needs to be patient.
Thanks hn, usual clarity of how it really is….
The following is from Ivanhoe IR.
(SP up today 10% as I post this)
For those worried about the Insider Selling
I am a long term shareholder of IVN and have supreme confidence in RF and this management team but I have the admit the insider selling had me a little worried.
So I emailed Bill with investor relations with a couple of questions. He does an amazing job by the way. He replied to me within 20 min with the following response. That put any concerns I may have had at ease and makes sense to me.
IR reply below
I am at the BMO mining conference so will have to be brief. Absolutely nothing material with the company. This is simply a stock pulling back after it ran up very quickly, also on no news from the company. Several insiders have options that are expiring and we are entering the long financial black out. As per our last Kakula drilling update release, we expect the resources update early in Q2. There could be more drilling results issued between now and then.
Read more at http://www.stockhouse.com/companies/bullboard/t.ivn/ivanhoe-mines-limited?postid=25911385#9fhX8wxJOfkRkdTV.99
Dunno why anyones worried? The story is improved for te better and stock jumped 10% in ONE day….glad I bought yesterday :)…Oh and it broke thru the Ichi cloud like a rocket. Double down today
Thank you for this update. I’m thinking of selling NAK since I got in at .59 and take my profits to invest in Ivanhoe.
Crusadercliff…Nice profit. If I were in your position on this stock, and still bullish on gold, I would sleep better cashing out and putting the profits into a less speculative pick.
This is a strategy I have been following myself…liquidating or cashing profits in really speculative gold plays and diversifying to other metals in Ivanhoe, which is a play in copper, zinc, and PGMs and is a much stronger position in terms of financing, discovery, project completion, management, and downside risk.
$KNTNF – K92 Provides Operational Update
Ore tonnes mined in January 50% above budget, with contained Au ozs 20% above budget
As at February 24th, 2017, almost 8,000 tonnes of ore mined for the month, and on target to achieve over 10,000 tonnes for the month, against a budget of 6,700 tonnes
As at 24th February, 2017, almost 5,000 tonnes processed and on target to achieve 7,000 tonnes for the month, against a budget for the month of 6,700 tonnes
Over 200 tonnes of concentrate produced to date, with the first containers currently being filled for shipment to the port of Lae. First shipment of concentrates from the port of Lae to smelte
http://www.k92mining.com/2017/03/k92-provides-operational-update/
KNTNF np
Hi Griffin, thanks for your timely posts.
This release was unusual, in that I have never noticed a news release from a gold producer that quotes production in terms of the concentrate they have shipped.
The tons of ore milled is a figure I have seen reported; but this is the first time I have seen gold solution in concentrate cited as a production metric.
Usually the results are expressed in terms of dollar accounting performance, or ounces of gold or gold equivalent produced or sold.
Since the concentrate has not been converted the expression of production performance in terms of concentrate is the best they can do under the circumstances. It is truthful and does not overstate their actual performance.
I am not sure how to estimate the gold that will be generated from the concentrate but it is likely not very complicated.
This is the second recent instance of K92 showing some urgency in the release of their data. The first was the release of the drill results of Irumafimpa that had several holes with “pending” assay data on secondary metals.
$MUX – McEwen Mining reports FY results
Note; This is not one of HNs’ gold stocks, but was reviewed by Myron a few years ago. I’ve been in it from almost the time that Myron wrote it up and have done well since the new bull. I’ve also included an SA article that is well written.
TORONTO, Mar 1, 2017 – McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) is pleased to report consolidated financial results for the fourth quarter and year ended December 31, 2016. During the year McEwen Mining achieved production of 145,530 gold equivalent ounces(1). Net cash flow generated from operating activities in 2016 was $25.2 million(2). On February 27, 2017, the Company had cash, cash equivalents and precious metals of approximately $55.2 million and no debt. Our year end conference call will occur tomorrow at 11am, EST. Details are provided at the end of this news release.
http://www.mcewenmining.com/Media-Events/News-Releases/News-Releases-Details/2017/McEwen-Mining-Reports-2016-Full-Year-and-Q4-Results/default.aspx
SA article;
http://seekingalpha.com/article/4041408-mcewen-mining-shines-bright
MUX long
$SA Seabridge Gold…conviction pick
Meet Rudi Fronk, CEO of Seabridge Gold.
http://www.kitco.com/news/video/show/GSA-Investor-Day-2017/1516/2017-03-02/Worlds-Largest-Gold-Project—Seabridge-CEO-Speaks-Out
$SAND recent nolan watson interview
https://www.youtube.com/watch?v=thnFF68Dj3w
$NAK Northern Dynasty
I don’t know if there’s any NAK-holders left after the last shake-out, but in case there is (and to the skeptics) I’m posting a new article that could bring up some interesting points.
Personally I have taken the opportunity to load up on even more shares in Northern Dynasty, and have been buying the insane dips. It hasn’t been easy, but I hope it was the right choice. I had to take a though decision and sell a big position in Ivanhoe to get the proper funding for NAK. Still long IVN, but I have a more bullish short-time view on NAK.
http://seekingalpha.com/article/4052187-northern-dynasty-antidote-kerrisdale-report
Chriz…for your sake I hope you are right, but I consider Ivanhoe much safer play than NAK (or any other gold investment, for that matter).
We agree on a lot of things, but NAK is not one of them.
I have a large position in Ivanhoe, and no position in NAK.
Cordially
Yes, but I too see Ivanhoe as a MUCH safer bet than NAK, but for me it’s the risk-reward and using NAK as a trading opportunity; not as an investment. Ivanhoe, however, is more like an investment for me. Still IVN is my biggest position, but it used to be twice as big. Looking to re-enter soon.
But we can agree to disagree 🙂
Hello HN:
Below what MAG price point would you consider adding? It is in the $13’s now – below recent highs. — Russ
Hi Russ. Long MAG and recently increased position.
I do not have the short-term insight or ability to predict
silver prices or exploration discoveries at MAG…I recently added to my MAG positions at higher prices, so I do not want to pretend I can give good advice on this.
I think MAG is priced fairly now, but there does seem to be a retrenchment going on right now in precious metal prices. So you might just wait a little, until you have an opinion on whether the short-term retracements are over with. I myself have no opinion on this. However I point out that I believe there will be positive news coming from MAG in the not-too-distant future. They are getting very close to reaching the ore body in the tunnel that is being constructed from the existing operation at Fresnillo.
Technically we seem to be in a transition period on silver prices…I think ultimately they will be much higher, but what happens between now and then is inherently unknowable.
I still do believe strongly that as a “traditional” mining investment in the silver space, that MAG is very attractive relative to the other stocks I have seen. I am long MAG, PSLV, SLW, and BCEKF, none of which are setting the world on fire right now; but I would rather buy at these prices, than sell.
HN – You are sensible as always – your strong suit is intelligence, but humility is always in fashion.
Agreed–Russ
K92 Commences Underground Drive to Kora
K92 is very pleased to provide you with a link to today’s news release.
We are on our way to Kora – a large and high grade deposit, open for expansion in every direction and strongly mineralized at the extent of all drilling, with a current resource estimate of 4.36 million tonnes of 7.3 g/t Au, 35 g/t Ag and 2.23% Cu.
The underground drive will allow access to Kora for future production targeted as part of the Company’s growth strategy but also importantly allows us to drill test the area between Irumafimpa and Kora from underground set ups.
We have been excited about the potential of Kora since Day 1 and with production now underway at Irumafimpa, the time has come to begin executing this next part of our business plan.
We look forward to keeping you updated. To view today’s full news release, please click here.
Regards,
The K92 Team
Long $KNTNF
HN…
Firstly, than you for all you do for this group. I have learned a great deal from both yourself and the other contributors in this thread and have invested substantially (for me anyways) in IVN.TO / IVPAF and CTEQF for the high alpha and high beta portion of my portfolio.
My question to yourself and the group, is what proportion of your portfolio have you allocated between these 2 companies? I recognize that you have been in IVN for a longer period, so this may represent a larger proportion of your overall portfolio. I am wondering if you feel the upside on CTEQF is greater than IVN at this point?
Any guidance is appreciated.
Thank you all!!
Long $IVN.TO and $CTEQF
Hi Leftfoot,
I am happy to share my allocations, but I do not think they are
to be recommended to anyone because of my outlook, purposes and objectives for the capital I have in the “stock market”.
My intent for the money in the stock market is aggressive capital gains primarily in hard assets. I am not looking for normal returns with this capital. For “safer” investment capital, I am in real estate.
Having stated these disclaimers, Ivanhoe and Cleanteq are each over 10% of my capital in the stock market. Between the two, the Ivanhoe position is considerably larger although right now I would like to have more money in CleanTeq. I do think Cleanteq has more upside than Ivanhoe in terms of multiples from the existing market cap, though Ivanhoe is more solid in terms of existing business and proven potential. The assets are there.
I consider both of these to be the best stock investments with reasonable time frames that I know of at the moment. I admit my knowledge is not comprehensive on this subject.
Thank you HN!
I feel very fortunate to have stumbled on this thread! I am very grateful!
A
Thanks, try to remember that if gold goes under $1000 and silver drops to $10.
$MAG Silver…news release
VANCOUVER, BRITISH COLUMBIA–(Marketwired – March 6, 2017) – MAG Silver Corp. (TSX:MAG)(NYSE MKT:MAG) (“MAG” or the “Company”) has previously reported on exploration results and a new deep discovery beneath the Valdecañas Bonanza Grade Vein System on the Minera Juanicipio joint venture property (Fresnillo plc 56%; MAG 44% – see Press Releases of February 14th 2017, August 15, 2016, and April 23rd 2015).
The results from these three drilling campaigns have: confirmed that continuous mineralization extends below the Valdecañas Bonanza Grade mineralization; revealed a substantial widening of this deeper mineralization into a well-defined dilatant zone; and, resulted in the discovery of the new “Anticipada Vein”, within the vein system. A new resource estimate incorporating the drilling results from these programs is in progress and is expected to be completed in the second quarter of 2017.
Given the potential size of these additional mineralized zones, the Joint Venture partners, led by JV Operator Fresnillo plc, have been considering project design enhancements to maximize the value of both the Bonanza Zone and the new deeper zone. Considerations include increasing the processing plant nameplate capacity from 2,650 tonnes per day to 4,000 tonnes per day and sinking an internal shaft (or winze) to access the deeper zone sooner. The changes in design scope could result in an incremental increase in the project capital cost and slide the anticipated project start-up from the second half of 2018 to the first half of 2019. Fresnillo plc, has indicated that permitting based on the upgraded design has already commenced, and that they expect their Board to give formal project approval in the next 3 to 4 months.
The new resource estimate and these design upgrades will be incorporated into a revised mine plan and a new MAG technical report for the project, expected to be completed in the second quarter of 2017 concurrent with the project approval.
speakin of drilling;
$KNTNF – K92 MINING COMMENCES UNDERGROUND DRIVE TO HIGH GRADE KORA DEPOSIT
This 5m x 5m drive is designed to provide access to the Kora deposit, where K92 is targeting the commencement of production in First Half 2018, while also providing the Company with the ability to drill test thereafter between Irumafimpa and Kora from underground set ups. This area has not been previously tested due to topographical challenges associated with drilling from the surface and is considered highly perspective given the current interpretation of Irumafimpa and Kora being on the same vein structure.
this link is a long read,,,,,,
http://www.k92mining.com/2017/03/k92-mining-commences-underground-drive-to-high-grade-kora-deposit/
K92 hasn’t done much for the last couple of months and down today. My quick read says this something to watc in 9 months.
$KNTNF np
From Miles Franklin Ltd. email today…
[T]he dramatic price plunge [last] Thursday (which came without the slightest hint of fundamental justification) did generate widespread commentary as being another instance of COMEX price monkey-hammering – which it was. But I have to tell you – I’m still scratching my head that none of the stories that I read had one word about who was doing the buying and selling; all were focused on the gazillion contracts dumped on the COMEX all at once. Unfortunately, I believe that because all the stories emphasize the great quantities of contracts suddenly sold, most reading the stories are left with the opinion that the dastardly COMEX commercials (the banks) were the big sellers.
That is flat out wrong.
[Emphasis mine – Ed]
Yes, the dastardly banks did cause Thursday’s sudden decline (and every COMEX decline in history), but these sons of guns were the big net buyers, not sellers. The commercial crooks did rig prices lower, through computer price rigging tricks, but strictly for the purpose of setting off technical fund selling (which the commercials then buy). That’s the scam, in a nutshell. Because it is always technical fund selling and commercial buying on big down days for price, such down days always improve the market structure, not make it more bearish. I know, I know – too many of these improving market structure down days and we’ll all be broke. Still, it’s important to try and understand what’s really going on.
While I certainly didn’t predict Thursday’s sharp selloff, I can’t help but be convinced that it sharpened the focus of the new premise I wrote about on Wednesday – the question about whether the managed money technical funds have wised up to the fact that they have been the pawns in a chess game run by the commercials on the COMEX. A more vulgar, if more modern term for the funds is if they woke up to the fact that they were the banks’ b*****s (rhymes with riches). — Silver analyst Ted Butler
Leslie – I have been following Ted Butler for years. When Ted Talks, I listen.
Greetings grand poobah, I like your 2 oil stocks of CVX & EOM. I am close to buying April call options on both that I can roll into Julys if my cyclical summer season oil trade does again work up as expected. Keep those good thoughts coming & don’t drink too much wine at the gummie get-togethers.
FYI – A Look At The Impact Of Electric Vehicles On The Nickel Sector
Summary
Nickel price history – Nickel is recovering after a 5 year bear market.
Nickel supply and the top nickel producers.
Nickel demand and the impact of electric vehicles.
http://seekingalpha.com/article/4052837-look-impact-electric-vehicles-nickel-sector?app=1&uprof=46&isDirectRoadblock=true
I was in $WSCRF, – North American Nickel for a whil,e been out now for sometime.
x post
Remember, MINERS SUCK.
Not a problem can’t afford them and IMO that’s not where the $$$ is. What I wondering about is the Bank reports says Syerston won’t be in production till 2020. I’m thinking there should be a play in nickel between now and then. Perhaps I just need to wait for Matt Bohlsens next column on nickel. I’ll look at Myron’s previous recommendations and see what’s there.
Someone bought $70 worth of Timberline today, and gave me a paper profit of over 2K. These penny stocks are strange animals.
if it is insane to do the same thing over again and expect a different result, I guess it is sane to do the same thing over again, and expect the same result. I recently bought AG for 8, sold at 10.5, for a quick 30% strike, now its back below 8. If it goes below 7, I jump on it. Everything I sold after the 8 week rally has tanked, and I have some fresh gunpowder.
Hi hn,
Any thoughts on this one, it’s a copper/silver play, very cheap at the mo.
Supposed to be the new Ivanhoe according to the youtube link below.
http://www.modresources.com.au/
https://youtu.be/U0q0c7WyLlY
Also any current thoughts on Colorado Resources?
Seems they are just waiting on the new coming drill results before much happens. SP has drifted down a bit recently and I have a position there btw…
Thanks,
Best squirrel.
$CLASF…just a waiting game, it is an exploration SPECLATION with a lot of “insider” positions and volatility.
Take a look at their market cap and claim maps if you get really antsy.
$CLASF…just a waiting game, it is an exploration SPECULATION with a lot of “insider” positions and volatility.
Take a look at their market cap and claim maps if you get really antsy.
Thanks, I always liked their position and size of the deposit, no intention of selling, just looking for your current perspective. Hope the coming drill results are good….
MOD looks worth checking into. Love the drill core photographs.
Big deposit, low market cap and stock price. Grades only so-so, numbers not as sexy as the drill core pictures.
Long time before anything concrete develops.
I looked on Scottrade, and there is no listing for it. I don’t have an Australian broker. Any ideas how to buy if I were to decide to do so?
I am using Schwab, and they have a module for global investing in the target market currencies.
Australian dollars is one of the currencies offered.
You move money into the account, then buy currency in the market you want to trade in.
With the global account funded in target currency, you can then buy stocks in that country’s stock market in the local currency.
There are lots of commissions, natch. You pay for the currency transactions in and out of $USD,
and you will have the fees normal in stock exchanges. So you have the spread on the exchange rate, the commission on the stock buy, and whatever other markups that are going to exist in favor of Schwab on top. I haven’t researched whether the currency rates they give are decent or not.
Can’t say how economical this is, probably fairly costly, but it does give they ability to buy and sell stocks on other exchanges in the local currency. It is also a way to own unhedged foreign currencies if you are so inclined. You could just transfer USD into the account, but the currency, and sit with it.
HN: IB ‘seems’ to work a different way. You buy $oz in US$ at moment in time…..theres an FX converion… US to Oz. Then, owning in Oz, you sell in $oz….now youre holding Oz $ . As a separate transaction you sell Oz and buy back US$. Its a double trade… both the stock price and the US/Oz exchange rate, but at your time choosing. The conversion can go up, down or sideways depending on your timing. You cant profit/lose from your FX timing.
Thanks, HN and alanh!
Sorry, can’t say, I have no interest at the present in a position; other companies mentioned are more compelling to me.
Thanks hn,
Here is a link regards MOD and Metal Tiger who own 30% of the company. Yes is a big deposit which could well discover other successes.
https://greetsecho.com/2017/03/09/mtr-share-price-not-reacting-in-line-with-mod-sp/
Botswana is a very safe jurisdiction.