EO, thanks for the note on Wesdome. I had a small holding in 2010 at $2.62 and I got out at $2.86, mostly good luck. I remember John Embry saying how much they were undervalued due to slogging through lower grades, on the Eagle mine I suppose. The grade was 4.6 g/t in the 3rd quarter and 5.27 in the just released 4th quarter. Maybe this means grades are improving back to historic levels. That plus the new discovery suggests that at $1.55 they are a screaming buy, having turned back toward the 200 DMA.
Eric O's Favorite Gold Miners
January 24, 2012 - 11:14pm
#1402
Wesdome
January 25, 2012 - 9:51am
#1404
Allied Nevada
2011 review, and 2012 guidance put out today. On track for a big jump in production in 2012.
http://finance.yahoo.com/news/Allied-Nevada-Provides-iw-692033245.html?x=0
January 25, 2012 - 9:54am
#1405
Armistice Resources
Appears to be heading for a 25,000 oz/yr start up very soon.
http://finance.yahoo.com/news/Armistice-Resources-Announces-cnw-61121567...
January 25, 2012 - 4:21pm
#1406
A few heroes on my mind today..
AEM and NGD awoke from their slumber, like they just got struck by lightning.
How about that Aurizon, eh!
Glad I doubled up on Detour early this morning! Better to be lucky than good.
Northern Gold Mining finally catching up to Moneta and Temex. All peas in a pod. My favorite baby peas...in a pod...or whatever.
Breakout action in AuRico and First Majestic. They are some of my big dogs, pulling my sled in a big way. G'Boyz! You get a cookie!
Laggards? Not talking about those miserable mangy mutts today. You know who you are.....
January 25, 2012 - 5:02pm
#1407
5 minutes left...
to make any changes today.
I've done a ton today. I think I'll stand pat. But for sure I'll be analyzing the bejeezus out of everything to plan my moves for tomorrow.
BTW, that is no random google chessplayer image. The Mighty Dr. Lasker is my Chess Hero.
January 25, 2012 - 9:32pm
#1408
Ohh Yeahhh
Last night (local time Dubai) a- few hours into the session I went on a buying spree(110k$), apart from adding to all my existing positions with AZK being the largest, I added UXG, TME & KAM
Woke up this morning and... Ohh Yeahh!
All the best to Y'all!
January 25, 2012 - 10:44pm
#1409
me too
lots of data to analyze now.
it has to be a no brainer in some regard.... to look at the dogs who didnt even wake up today, on a day like this??!
Silvermex. Golden Goliath. Xtra Gold (that was a surprize...casey likes XTGR) Millrock, Andina minerals....are my bad dogs.
But it shouldnt be taken as absolute because we did get a down day in Pretium, thats because Pretium has blasted up....Doubled from the 8 dollar bottom....and on a greater wave structure Needs to correct back towards 12/11 dollar area ...Pretium is wanting to correct...
The only other peculiar looking thing is the Yukon miners did not participate....Kaminak and Atac .....and they are in a low zone, from where they should have gone up in this move....so thats a funny one to analyze.
January 26, 2012 - 12:16am
#1410
Said Goodbye
to Golden Goliath, Goldgroup, Golden Predator, Gowest, and Gryphon today.
I don't hate any of these. I like them all. But as I've said many times over the recent months, I own way too many miners. Absolutely must trim the list and today was a good day to get a start on it. Some of these have disappointed me lately, others not so much but maybe I just felt like cashing out.
Among my really large positions, some that disappointed me today were Golden Band and Primero. I'll be watching those closely.
I think I expressed my sentiments best in a PM to a friend earlier. I'll just copy and paste here:
If we are bullish, at least for the long term ( interpretations for the shorter term can be all over the map, even among friends) then we want stocks that will participate. Stocks who have a following, have some volume, have some exposure, have some fundamentals, have some good charts, have...something...that will make them go up when the whole sector goes up.
If we are holding things that couldn't go up today, and we are sitting there saying, "well, it's building a base for later.." I think that's a losing strategy. Today was not a day for building bases. Today was a day to get up and go.
Any stock that was down today obviously has a whole cohort of shareholders ready and waiting for a strong day to sell into. Not my cup of tea.
January 26, 2012 - 12:29am
#1411
Wow, Detour Gold didn't waste any time
Wow, Detour Gold didn't waste any time hitting the markets for a huge financing to fully finance the rest of their Mine. I just went big on Detour before todays pop, and am up nicely on it, but need to be wary now. Watch all your miners for a rush to raise money. Already. Sheesh.....
http://www.detourgold.com/NEWS-RELEASES/News-Releases/News-Releases-Deta...
January 26, 2012 - 12:49am
#1412
selling golden predator ?
.....I dunno on that one yet.... it rose 3 % today. chart looks ok. it held support at the 50 MA... made a decent bounce (hammer) today , the RSI is not overbought yet....
now there's a 200 MA and a gap window to target around 92 cents. I might sell a bit at that resistance target.
But..... there isnt much room for a pullback here to test that 50 MA...needs to keep holding up above 60 cents. to keep looking good. or looking ok
January 26, 2012 - 1:34am
#1413
yeah, GPD
I've been in and out of that one 3 times now (I think). It looks so great on paper, and then I buy it, but for some reason I just can't work up a real love for it. Hard for me to put my finger on exactly why, but I think it's because in my heart of hearts I'm just not entirely sure about what we're looking at at Brewery Creek. They only own 65% of it, and there's also a 5% Net Profits Royalty on it. We are going to have all through 2012 to really see what the feasibility studies say, what the capex will be, how they will finance it. Somewhere along in there I suppose I'll get some more certainty and regain my nerve and take another plunge on it.
As I've said for months, I have too many miners. I'd like to own them all, but I can't. I can't even keep all the ones I've got. I have to turn some loose. Even the laggards today, I hate to see them go, but it has to be done.
January 26, 2012 - 1:59am
#1414
to be honest
about Golden Predator.....I bought it because of its cool name....lol.... seriously.... I might have read somebodys due diligence on it once or twice, and it seemed ok.... but just on a hunch I decided ...I think it was a company that had the balls to appear at some giant show in London last year and the big experts liked what they were shown, so I bought some.... this is why I stick to doing technical analysis, to save myself, cause I cant do fundamental , I just dont have a clue.
If golden predators name was something like..... Baloney Mountain...I would sell it ok.
January 26, 2012 - 2:17am
#1415
Baloney Mountain!!
LOL, I love that!
On that belly laugh of a note, I'm going to hit the sack. I see gold still hanging tough at 1710, but wouldn't be surprised to see some fireworks go off one way or the other by morning.
January 26, 2012 - 10:09am
#1416
San Gold
San Gold has an exploration company, of which they own 40% of the shares, SGX Resources (Canadian ticker is SXR). It looks like they are on to a bona fide open pit discovery, on a hot trend in Ontario.
The problem? SGX is up 146% YTD, so the cat was clearly out of the bag already. Still, it bears watching.
http://finance.yahoo.com/news/SGX-Resources-Discovers-New-iw-478374443.h...
January 26, 2012 - 10:16am
#1417
Northern Gold Mining
A few more drill holes reported this morning. They are playing them up, but they don't really strike me as any big deal or way or the other.
http://finance.yahoo.com/news/Northern-Gold-Stepout-ccn-1585780944.html?x=0
January 26, 2012 - 10:20am
#1418
Kimber
Some good drilling out from Kimber today. My chances of buying back my shares may have just dimmed a tad. We'll see what the market does with this news.
http://finance.yahoo.com/news/Kimber-Intercepts-7-Metres-18-iw-172299057...
January 26, 2012 - 10:53am
#1419
SGX Resources/San Gold
And SGX tanks on that news. Wow. A little "buy the rumor, sell the news" going on much? Or maybe the rumor was a real doozy and the actual news couldn't measure up.
BTW, I did some checking. San Gold has a right of first refusal on anything SGX finds.
January 26, 2012 - 11:00am
#1420
Trading halt on Premier Gold,
Trading halt on Premier Gold, pending news.
Hold your breath, Captain Unsensible!
January 26, 2012 - 11:49am
#1421
Premier Gold
Here's the news. The Saddle property is going into a joint venture with Newmont. Newmont contributes the past producing nearby Rain Mine, along with all the infrastructure and also a milling agreement. This puts together the puzzle pieces for a big project, and could be a fast track to production. Premier is the operator and has 55%. I like it! Stock still halted as I type. They are holding a conference call at 2:00 eastern.
http://finance.yahoo.com/news/Premier-enter-Rain-Saddle-cnw-1273131048.h...
EDIT: Premier opened up 4%.
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The numbers have been tweaked upward.
As a reminder, the mine is currently under construction and should start producing about a year from now. Lifetime average production is supposed to be 649,000 oz, but from this release it sounds like they are already thinking about expansion.
http://finance.yahoo.com/news/Detour-Gold-Reserves-Increase-ccn-16602476...
Market cap of $2.6B. Are you kidding me? Look at what Pan American just paid for Minefinders and tell me Detour ain't going higher. It's a must buy for one of the big boy miners out there. My opinion only, of course.
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