Eric O's Favorite Gold Miners

There's no way to sugar coat it.

Best tip I can give right now is to ignore my list completely.  :(

Just bought a little AUQ...

Well, things stink, that's where.   My list stinks.  My only consolation is that pretty much everybody's list stinks too.   Every miner fund out there stinks.

By late April/early May I had basically hunkered down.  Dumped all the stuff that scared me, and kept the stuff that I felt I could emotionally hang onto through thick and thin, based pretty much on my list.  Since then I've gotten rid of Golden Band and taken them off the list.  I also have been out of Impact Silver and Claude Resources for a while, though they still sit on the list.

I mentioned a possible trade here on the thread for Victoria Gold a while back.   That would have worked out nicely, but unfortunately I never pulled the trigger.  It's back down again now.

At one point I was pondering a trade on MAG Silver, but it took off without me before I could do that one either.  I'd think about it again under $8.00.

I did get into some Osisko Mining for a while, and cashed out with a nice 40% winner.  In this crappy environment you have to be happy with that any time you can find it.   I'm still watching it retreat, hoping for a good reenty,  hopefully also under $8.00.   $7 would be better.

First Majestic has been decent.  I had a "too big" position in that because of my old Silvermex shares.  I trimmed that back to a normal size pretty near the recent highs, so I feel good about that.  Argonaut, Rubicon, Detour, and Kirkland have been OK.   Timmins was horrible, but has come back of late.

Meanwhile, Aurico and Aurizon have been brutal on me.  Big positions there.  :(

San Gold stinks too, but thankfully just a small holding.

How about you guys?   Any summertime war stories you want to share?

I'm thinking about upping my exposure to San Gold.  It's been beaten to a pulp, largely because of the mill breakdown which took the entire month of June to repair.  When taken in this light, the 2Q results are not all that bad, and I think now that they are running again they are likely to still hit all their guidance for production and costs.  

Just for fun future reference, the current price is .83 Canadian.   Sometime later I can refer to this post and show how silly I was.

Atna Resources just raised $15M in a bought deal for stock.   I'm seldom happy about this sort of thing, but in this case I'm particularly pissed off.   Atna went to great pains earlier this year to totally lay out their financial plans regarding how they were going to get through without having to raise any money.   They supposedly had enough money to get Pinson started up by YE 2012.   Cash flow was supposed to start in time to make debt payments back to Sprott, which had been renegotiated out into 2013.   They had it all worked out.   Their whole mantra is that cash flows from one mine fund the development of the next one, without the ongoing dilution of shareholders.

In my write up for my list I stated, in plain black and white, "No Stock Dilution".   Now management says "Never mind, we decided to take the money."  Apparently they now think it's such a great idea that they announced it yesterday and then enlarged the size of the deal today.   Wheeee!

Yeah, well, never mind about being on my list either.  Bye Bye Atna.

I probably won't just dump it in a huff, but next time I'm looking to lighten up on miners, Atna will be the first one I think of.

http://finance.yahoo.com/news/atna-announces-increase-previously-announc...

upon a more careful reading of your post, it appears you and I disagree on this one.   That's OK.  I can see your point, but this is a company that always went out of their way to say they wouldn't raise money this way.  That's why I liked them.   Now that's out the window.

In the strict dollars and cents aspect, it's really not a big deal.  It's not really a ton of shares.  But for me it cut right to the heart of the credibility of management.   What they kept saying for months, and what they did today, were 180 degrees apart.  That's what is bugging me.