Eric O's Favorite Gold Miners

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January 17, 2012 - 9:48am
#1322
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More News

News out from Cream Minerals and Lake Shore Gold.  Both strike me as just fine, but nothing earth shattering.

http://finance.yahoo.com/news/Cream-Minerals-Drills-20-iw-2380542695.htm...

http://finance.yahoo.com/news/Lake-Shore-Gold-Announces-New-iw-365620053...

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January 17, 2012 - 12:24pm Response to: News from Primero
#1323
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Eric Original wrote: Well,

Eric Original wrote:

Well, I'm not exactly cheered by this one.  Seems like they still don't understand what went wrong with the grades that came out of the ground in 2011.  They are working hard on it, and as soon as they figure out exactly what they've got they'll decide how big of a boost to milling capacity  they will need for their  expansion plans.

Bottom line for now is that gold production for 2012 should tick along about the same as in 4Q11, or maybe just modestly higher.  4Q11 gold only production came out at an annualized rate of 80,800/yr.  2012 guidance is 80,000 to 90,000.

As a reminder, I ignore their silver in all my analyses, due to the ugly SLW deal.

http://finance.yahoo.com/news/Primero-Reports-2011-iw-3297169920.html?x=0

I don't think they deserved a 10% spanking on this, so I bought some more.  

Hi ho, hi ho,

deeper and deeper I go,

on the Primero....

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January 17, 2012 - 3:22pm
#1324
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Detour Gold

Sounds like they are going to get busy drilling that stuff they bought from Trade Winds.

http://finance.yahoo.com/news/Detour-Gold-Starts-2012-ccn-1421479212.htm...

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January 17, 2012 - 5:02pm
#1325
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what happened to Kinross today ??

plunged 17 %  ?!?

I had to buy a little more at 10.45

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January 17, 2012 - 5:17pm
#1326
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Kinross

Perhaps this?

Modest production growth, costs rising.  I thought I heard someone say something about writing down the value of one of their mines, but I don't see that here.  Maybe I heard wrong.

http://www.kinross.com/news-articles/2012/011612-kinross-provides-prelim...

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January 17, 2012 - 6:04pm
#1327
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The Kimber trade

By way of follow-up to past posts, I knocked out my Kimber (KBX) position today, half at 1.19 and the rest at 1.20. It closed at 1.22, up .12 on the day. This is a continuation of a strong uptrend from a low of .85 recently.

It could keep rolling -- it has in the past without me --  but I was thinking that for several reasons both macro and micro, a pause could be coming and I just wanted to ring the cash register.
 

I'll be awaiting a drop, and rebuying. It's worked for years with this one. By the way, for buy-and-hold types, I believe the long-term story here. The company just added an executive with mining experience to further the cause of mining the deposit, which could begin in 2014 if the preferred buyout by a large producer does not materialize.

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January 17, 2012 - 7:11pm Response to: Kinross
#1328
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RE: Kinross

Eric Original wrote:

Perhaps this?

Modest production growth, costs rising.  I thought I heard someone say something about writing down the value of one of their mines, but I don't see that here.  Maybe I heard wrong.

http://www.kinross.com/news-articles/2012/011612-kinross-provides-prelim...

From what I read somewhere there was a delay in bringing their new Tasiast mine to full production. As a result they planned a write down of the goodwill they paid for that mine. (Part of the too expensive take-over of Red-Back, which doesn't provide the synergy counted on.) frown

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January 17, 2012 - 7:53pm Response to: The Kimber trade
#1329
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firstsilver wrote: By way of

firstsilver wrote:

By way of follow-up to past posts, I knocked out my Kimber (KBX) position today, half at 1.19 and the rest at 1.20. It closed at 1.22, up .12 on the day. This is a continuation of a strong uptrend from a low of .85 recently.

It could keep rolling -- it has in the past without me --  but I was thinking that for several reasons both macro and micro, a pause could be coming and I just wanted to ring the cash register.
 

I'll be awaiting a drop, and rebuying. It's worked for years with this one. By the way, for buy-and-hold types, I believe the long-term story here. The company just added an executive with mining experience to further the cause of mining the deposit, which could begin in 2014 if the preferred buyout by a large producer does not materialize.

Been thinking about selling some Kimber myself, just haven't pulled the trigger yet.

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January 17, 2012 - 7:54pm Response to: RE: Kinross
#1330
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Gwyde wrote: Eric Original

Gwyde wrote:

Eric Original wrote:

Perhaps this?

Modest production growth, costs rising.  I thought I heard someone say something about writing down the value of one of their mines, but I don't see that here.  Maybe I heard wrong.

http://www.kinross.com/news-articles/2012/011612-kinross-provides-prelim...

From what I read somewhere there was a delay in bringing their new Tasiast mine to full production. As a result they planned a write down of the goodwill they paid for that mine. (Part of the too expensive take-over of Red-Back, which doesn't provide the synergy counted on.) frown

That probably was it.  Thanks Gwyde.   That Redback buy continues to haunt Kinross.

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January 17, 2012 - 7:55pm
#1331
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Argonaut

Everything rolling nicely at Argonaut.

http://finance.yahoo.com/news/Argonaut-Gold-Announces-ccn-3605022481.htm...

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January 18, 2012 - 2:44am
#1332
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thats right , G

thats what happened with KGC today.    I just looked at the price and bought some. I hope it wasnt   a mistake.   

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January 18, 2012 - 4:55am Response to: Gwyde wrote: Eric Original
#1333
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RE: Kinross

Months ago I came across a remarkable posting of some seasoned gold stock investor declaring:

"You 'll learn to hate Kinross."

Some Johnny Newcome had been pointing to how cheap Kinross looked in view of the gold run-up. Well, it's again about 40% cheaper than what it looked like back then.

To quote a few end-of-year data:

Year: Gold last LME fix - Kinross last trading day close / Kinross shares per gold Oz 
2011:  $1574.5 - $11.40 / 138
2010: $1410.3 - $18.96 / 74
2009: $1104.0 - $18.40 / 60
2008: $865 - $18.42  / 47 - (despite the stock market crisis)
2007: $836.5 - $18.40 / 45
2006:$635.7 - $11.88 / 53

... and those quotes north of $20 date from Jan 2010, early Dec 2009 and north of $22 in Oct 2009 and summer 2008. 
KGC marked  a 21st century top closing quote of $26.73 in March 2008 (and gold at $1000 for the first time)

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January 18, 2012 - 9:21am
#1334
l'idiot du village
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This game all about the right people...

IMO - Kinross has some great properties, esp Tasiast,

and if the company had a McEwen or a Lassonde etc

in charge, I honestly think it would do great, although

I dont like the big southern South American position much.

Potentially, if its drops further, it could represent a possible

takeover target, who knows. 

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January 18, 2012 - 11:50am
#1335
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PKL

Well, I picked up a lot of PKL in the high 30's,

so I'm only 5% underwater now....Big position

in PKL now though ! 

Cant decide sometimes if I'm the worlds absolute

worst trader, or whether I should have been

expecting that  2/3 of the big sp move would be

given back ? I do love this story though, despite

the undeniable risks. Picked up some Premier Gold

at the open, so that's something new for me to worry 

about ! Bit fed up with NGD and AXR at the moment.

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January 18, 2012 - 11:57am Response to: PKL
#1336
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Captain Unsensible...

Captain Unsensible wrote:

Well, I picked up a lot of PKL in the high 30's,

so I'm only 5% underwater now....Big position

in PKL now though ! 

Cant decide sometimes if I'm the worlds absolute

worst trader, or whether I should have been

expecting that  2/3 of the big sp move would be

given back ? I do love this story though, despite

the undeniable risks. Picked up some Premier Gold

at the open, so that's something new for me to worry 

about ! Bit fed up with NGD and AXR at the moment.

Ahem!...Go take a peek...PC Gold is up over 16% (43 cents)!!!...

Bag Of Gold

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January 18, 2012 - 1:20pm
#1337
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Kimber

decided to join firstsilver and take my 40% YTD move on Kimber to the bank.

Now, watch it get a big buyout offer tomorrow!  crying

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January 18, 2012 - 3:46pm
#1338
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Thanks BOG

But PKL is an out of control pair
of windshield wipers. The wipers
could stop anywhere on the screen,
but we won't know until the driver
switches off the engine.

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January 18, 2012 - 3:49pm
#1339
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Claude's Brian Skanderbeg's interview on L62 results

I'm not sure if you caught this interview. Claude is planning on putting L62 into production and a mill expansion at Seabee

http://resourceclips.com/2012/01/17/claude-vp-brian-skanderbeg-on-saskatchewan-gold-assays-of-12-81-gt-over-6-7m/

I've met w/ Brian. Good guy. I have believed in Claude ever since meeting him. I should be heading up to La Ronge to tour the Claude and Golden Band sites this spring. I'll try to share my info.

Claude is my number 2 company behind Golden Band.

Thanks for all your efforts, Eric! Best of fortunes!!

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January 18, 2012 - 4:04pm
#1340
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Thanks Saskman

Thanks for that link Sask.  Definitely good things on the horizon for Claude.  Can't wait to hear what kind of info you get from your trip up there.  Keep us posted!

BTW, Claude pretty much finished up the St. Eugene buyout today, consolidating 100% ownership of the 1.5M oz Amisk project.  Should close by 1/31/12.

http://finance.yahoo.com/news/St-Eugene-Shareholders-prnews-1796348196.h...

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January 18, 2012 - 5:12pm Response to: Kimber
#1341
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Re Kimber

No buyout offer, but it did continue up nicely today, without me, alas.

But, based on history, there will be another buying opportunity.

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