Thank for your time and work BoG.
Bag Of Gold's Penny Stock Arcade & Emporium...
Look at those numbers people!
I appreciate your post. Could you go into more details regarding your experience with Rick Rule: How much has your account with him gone down this year (you said: " It is down slightly overall this year, but not nearly as shockingly as my other account").
I do not doubt RR's business expertise, but I do take several issues with him:
(1) He completely ignores market manipulation in the junior mining space (he talks a lot about "volatility" but in reality this volatility is caused by systemic manipulation imo). For me, this represents lack of forthrightness(i.e. not being upfront with your clients and/or prospects).
(2) It is important to remember that while Rick is no doubt an expert, he has made some serious errors in previous calls: The Geothermal mania which he had promised for so long has completely failed to materialize (and those who followed him to his favorite geothermal play, Ram Power Group, have lost most of their capital.
(3) The same thing regarding Uranium stocks. After Fukushima, he promised a recovery ("the world has no choice but to continue expending its nuclear power")... Many experts are now saying that nuclear power is no longer the future of energy production and that the Fukushima disaster has indeed changed its fortune.
(4)Esperanza Resources: He has been arguing its potential as a take over candidate for at least 2 years. I remember that when I first started doing my due diligence on this stock, I was amazed to learn that the "Rule Family Trust" had just sold its entire stake in the company. I am sure that there could be a perfect explanation for this (I am not claiming any malicious or dishonest intent) but would like to learn what it is.
Unbelievable 30%+ day today for NGM! Now nearing 40c/s! Volume very heavy!
No sure what to say about points (1) and (4). Regarding point (1), he's there to make money for clients, whether markets are manipulated or not...the markets are what they are...Regarding point (4), I was not recommended that stock by him or his brokers so I have no idea about that. Seems more like this was a comment in some interview 3 years ago that keeps getting repeated by others.
I think point (2) is an excellent one. Shows that even the smart guys it wrong. He lost a lot of money himself on this one, I'm sure.
My personal opinion is that it's too early to say he's wrong on point (3). He started investing heavily in Uranium in 1998 and and had to wait until 2004-2006 to make serious multi-bagger returns, so he has a long time horizon view. Let's see what happens with Uranium over the next 3 or 4 years before we call him out this time.
I like them because they are interested in whether a project could have a decent NPV, not market cap per ounce or great drill results or other crap that I get fooled by. There is still plenty of risk, sure.
Sorry but I'd rather not give more details of my accounts.
Hey, maybe I'm being too cynical. I enjoy trading stocks I've researched on my own, just feeing a bit peeved at how badly Cream turned out.
The juniors seem to have put in a double bottom somewhat after the GDX (as expected). GDXJ could easily make a 50% move up to 30 relatively quickly, were it to take out resistance in the 20-22 zone.
Up 44% today to 6/6.5 with 2.2m traded! Looks like people have finally gotten around to reading the last set of results.
From Santa to you....
Big financing done by NGM. Capped that rally good and hard.
Yep......shot them up to 200mil shares in the blink of an eye. Really dumb move imo. To me they are saying " we have absolutely no confidence that our sp will be higher in three months so we're grabbing all we can get at the paltry price of 0.30."
I'm not so sure. Non-brokered, no warrants. Smells like someone wanted a piece of the pie without having to go to the market. With so much cash something is going on for sure.
I have no doubt that Caland made the offer, but that's no reason for NGM to accept it, unless he has undue influence with the board. This pp benefits no one other than Paul Caland. If the juniors tank for another year, we should all probably leave anyway and find somewhere else to lose our money.
Bag of Gold,
Could you(or anyone) help me fill in the blanks on Stroud. I did DD on this one a while back. The NI 43-101 was excellent. The property in Mexico had 'potential' to be world class, or least they said it did. Even without it being world class it still had solid reserves. No debt. It 'looked' like a hidden gem, but I guess not. I have tried several ways to find info and am wondering if you or anyone might have the latest on what the situation is there. Are they just broke and in need of cash so the market won't touch it? Or is there more to the story. It had everything you look for at the time......or I thought so. Thanks.