will be funny that if as soon as you said you are done with both then they take off like a madman
Eric O's Favorite Gold Miners
July 3, 2012 - 3:49pm
#2202
will be funny that if as soon
July 4, 2012 - 12:15pm
#2204
Eric what are your top 3
Eric what are your top 3 choices out of your list?
July 5, 2012 - 10:13am
#2205
Lotto Pick 4
Eric what are your top 3 choices out of your list?
I was able to cut it down to 4, but it just got too hard to slice and dice it after that. I'll take AuRico Gold, Detour Gold, First Majestic Silver, and Kirkland Lake Gold.
Each of these has a lot of growth under construction over the next 1-2 years. One could argue that they all maybe look a little pricey based on current production, and that maybe the growth is already priced in. But I don't think so. I think they all will get higher valuations as the various projects come to fruition with steady production.
That's not to say there couldn't be some hiccups along the way. Glitches, delays, and cost pressures are commonplace with project start ups, but I would look at anything like that as a buying opportunity unless it's really something fundamentally catastrophic.
None of these are too big to be taken over either, just sayin... ;)
July 5, 2012 - 12:44pm
#2206
Barkerville
One way or another, Barkerville may end up being the story of the year in the miners. Stockhouse is absolutely aflame with comments on it today. The whole spectrum is represented. Everything from planning to retire on this one, to surprise that it's not already halted as a flat out fraud. Proponents are blaming shorts and warrant exercisers for weakness today. Doubters are aligning themselves with comments by Brent Cook and Quinton Hennigh. I think you know where I stand. Personally, I'm gratified to see Cook and Hennigh coming out and agreeing with me. ;)
As I stated on Main St last night, "I wouldn't touch it with a ten foot pole".
http://www.stockhouse.com/Bullboards/SymbolThreadList.aspx?s=BGM&t=LIST&...
July 5, 2012 - 8:43pm
#2207
The Ongoing Drama of Barkerville
Closed at .91 today. It was halted at .80 last Friday before the "news" came out. The interim high was 1.67.
I say if it trades below .80, it goes to zero.
July 9, 2012 - 4:03pm
#2208
Location Risk, yet again
Anybody who got caught in the South American Silver debacle today obviously hasn't been paying attention. Cry me a river...
http://www.zerohedge.com/news/south-american-silver-plummets-bolivia-ann...
July 12, 2012 - 9:54am
#2209
Barkerville
Closed at .91 today. It was halted at .80 last Friday before the "news" came out. The interim high was 1.67.
I say if it trades below .80, it goes to zero.
News overnight. Regulators have questions about the resource calculation, and so far at least, they are not satisfied with the response from the company. Currently trading at .72, below where it was prior to this whole drama.
http://finance.yahoo.com/news/barkerville-clarifies-technical-disclosure...
July 16, 2012 - 6:10pm
#2210
AUQ
2Q production is out. The stock was weak today, and honestly I don't know if someone knew the numbers during the day or not.
The problem is Ocampo. Guidance was revised down on continued problems there. Management says they are turning it around, but we know how that sort of thing goes.
On the upside, the start up of Young-Davidson seems to be going great. Two thumbs up in Ontario.
Net, net, AUQ stays on my list, and stays as one of my largest holdings.
http://finance.yahoo.com/news/aurico-reports-second-quarter-production-2...
July 17, 2012 - 12:13am
#2211
MUDbone wrote:...the deposit
...the deposit is in BC and I don't buy companies with deposits in BC.
May I ask what's wrong with BC? It's a whole lot better than Argentina, surely...!
July 17, 2012 - 10:20am
#2212
AUQ
Heading for the ravine . . . Endeavor says the El Cubo estimates were double or triple the reality, which brings into question AUQ's figures on other mines. It's not just a matter of the former CEO's "health," the health of the entire operation is being questioned.
Yikes, I just sold at almost 50% loss. Double yikes.
July 17, 2012 - 11:30am
#2213
AUQ II
I guess I misstated the problem. And probably exaggerated. Nevertheless, there are some problems. Here's what Otto at IKN wrote this morning . . .
"El Cubo's reserves and resources have been significantly chopped from the old AUQ assumptions.
"Here's the breakdown. According to AUQ before the deal, El Cubo stacked up like this:
Proven & Probable (P+P) Silver: 18.5m ozProven & Probable (P+P) Gold: 322,000 ozMeasured & Indicated (M+I) Silver: 8.3m ozMeasured & Indicated (M+I) Gold: 269,000 ozInferred Silver: 26.7m ozInferred Gold: 548,000 ozTotal P+P+M+I+I Silver: 53.5mozTotal P+P+M+I+I Gold: 1,139,000 oz
"And now, EDR has numbers for the very same mine like this:
Proven & Probable (P+P) Silver: 7.04m ozProven & Probable (P+P) Gold: 112,100 ozMeasured & Indicated (M+I) Silver: 4.43m ozMeasured & Indicated (M+I) Gold: 76,500 ozInferred Silver: 11.41m ozInferred Gold: 220,000 ozTotal P+P+M+I+I Silver: 22.88mozTotal P+P+M+I+I Gold: 408,600oz
"Thirty million ounces of silver and 700k of gold gone poof? Big differences, which reflect mainly EDR's changed attitude towards El Cubo and how to mine it. They're looking to make El Cubo a high grade vein underground operation, rather than mining it for bulk at lower grades. That's fair enough, but it also means El Cubo is now moving into the unknown. But the real story here is the way in which AUQ's reserves and resources numbers have been chopped to bits and you have to wonder how the numbers it produces at its other mines would stand up to a bit of scrutiny if this is the result at ElCubo."
Should change my name from Fleetfeet to "Flat-footed."
July 17, 2012 - 1:42pm
#2214
New jackass post
Concerning deposit locations and political risks associated with them, the new JW mentions ever-so-briefly concerning
mine nationalizations, "confiscation trends will begin in foreign jurisdictions, but end at the North American doorsteps".
The implications of this if it plays out will obviously be mega-huge. JW must have gotten some info from his insiders
that prompted such a bold prediction. I only wish he would have elaborated a bit. It's always been my feeling that
Mexico and points north would be saved from mine nationalization, but the example of Pemex always keeps me uncertain.
(jmo/fwiw)
July 17, 2012 - 4:41pm
#2215
Yikes
I've been extraordinarily busy today. Didn't even check the price of gold, let alone my miners, until moments ago.
Down 12% on AUQ. Woosh.
I haven't had a chance to check or read anything, let alone take a deep breath or eat a decent meal.
Three quick observations:
- IKN is a well known AUQ hater. Not saying they are wrong, just be aware and factor that in.
- If El Cubo is so terrible, why did Endeavor just close on the deal, at full price too yet? If these numbers are to be believed (and all I know at this time is what is posted on this thread), it would seem Endeavour would have had ample reason to walk away.
- The joys of diversification. AUQ is one of my largest miner holdings, and yet the big loss there is very much swamped by the performance today by other miners, energy names, consumer staple names, and real estate names. Net, net, it was a day that normally wouldn't even raise an eyebrow. There's a lesson in there, somewhere...
Have a good one everybody. I think something is on fire here at the Original Haus.
July 17, 2012 - 10:40pm
#2216
AUQ III
Thanks for your comments, EO. Yes, Otto is prejudiced; always points out that AuRico used to be named Scammon.
That Endeavor still thinks they have a profitable new mine is probably the most important point.
The stumbling block for me is trust in AUQ. Endeavor immediately redesigned El Cubo's plan of development, raising the possibility that AUQ is not making the most efficient and most profitable development decisions. I could get back in with no penalty, but I haven't decided what to do.
Thanks for all input.
July 18, 2012 - 9:23am
#2217
Endeavour
I think I mentioned somewhere, maybe in my list, that "If anybody can turn around El Cubo, Endeavour can". Or something to that effect. Looks like Endeavour has precisely their plan in place to do exactly that. 
I should probably put my list back in my signature line. I was messing around with it last night.
July 18, 2012 - 4:02pm
#2218
Let's Face It
Let's face it. The miners are going nowhere until gold gets another move. It's a plain fact of life. When will that be? I have no idea.
So in the meantime, why not spend your most precious resource (your time) on other things? Things that can provide some reward.
There ARE other sectors of the market. There ARE other facets of your life. My miners are not going out of business. They are not going to zero. They've just been basically been put in cold storage. I'm not really paying attention. I'm doing other things.
I'm not saying I'm quitting this thread or anything. I'm just saying it's likely to be pretty quiet around here for a while, at least from me.
Feel free to carry on.
July 19, 2012 - 3:19pm
#2219
I agree with this idea
yes, we need to be patient , and do other things, but at the same time, we ought to stay alert to what our stocks are doing daily, because at any given moment, an individual stock could have critical development/news that makes it go soaring for a day.... like a takeover, witness Inter-citic ,the other day, doubles , and I got to sell at break even.
for me,thats one down, and 40 more left to sell. maybe 30 ,i dunno.
July 25, 2012 - 4:21am
#2220
spot prices chopping around
For several days now, I have been watching the price action in spot gold and silver, at all different times of the day and night.
it seems to be meaningless these days. chopping around above and below the 27 silver 1575 gold zones.....no key price points holding any meaning in this range from the greater low at 1525 g /26 s. to 1600 g and who knows what top silver
everything in between is just chopping up and down, all noise, these days and nights.
July 26, 2012 - 9:53am
#2221
Just in...
Hecla (HL) just offered $ 1.78 cash per share of U.S. Silver.
Stock up this morning to $ 1.77, or 24.6%.
Could this start a bidding war??Just hoping, as I have a boatful.
Audi.
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will be funny that if as soon as you said you are done with both then they take off like a madman
I know. It wouldn't be the first time.
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