Eric O's Favorite Gold Miners

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Wed, Mar 28, 2012 - 9:26pm
HCA
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Miner basics

Nothing new or extraordinary, but a good a good contribution to the ABC of mining shares.

https://jutiagroup.com/20120328-fatal-flaws-and-opportunities-in-gold-in...

Wed, Mar 28, 2012 - 11:07pm
T
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That last post of yours

Eric, 

that says it all. 

That post.... tells the whole story. 

Thu, Mar 29, 2012 - 8:33am
Eric Original
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News Roundup

Drilling from Bayfield.

https://finance.yahoo.com/news/bayfield-reports-7-5m-7-080421597.html

Year end results from Timmins, looking good.

https://finance.yahoo.com/news/timmins-gold-reports-financial-results-10...

Goldgroup's development work at Caballo Blanco continues apace.

https://finance.yahoo.com/news/goldgroup-announces-tunnel-assays-confirm...

Premarket miners are looking flat right now. I'll take it.

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Thu, Mar 29, 2012 - 7:30pm
T
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Interesting day

I guess this is what a Hammer candlestick day looks like. Bottoms often have tails like this.... but the rally wave doesnt always become an upwave trend. sometimes it reverses at the next big resistance....alll the charts show where that resistance would be....and then Down again is very possible. ... to retest these bottoms or go lower still. next week could be a repeat of this week after we hit resistance top zones. I'm not getting excited here. not really even relieved, sort of but not really. 

Today behaved like a nice bottom and bounce. Thats all it is. so far. the next test is the resistance overhead,all charts ,all indexes, 

lets see what happens when we get there. and then....how far back down everything falls. The big rally in January thru February has mostly evaporated back closer to the december bottoms.... lower in the GDX , not as low in the GDXJ. 

The DOW and S+P look great. YELP gained 9 % the other day. when miners were crashing down.

I havent felt this kind of restless eagerness to get up and just leave this place (investing) since I last attended a catholic mass. 

Thu, Mar 29, 2012 - 8:45pm
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Richmont/Wasamac

Eric -

I totally missed Richmont Mines when it doubled. So it really was never on my radar screen.

Sorry to hash out an open wound - but Richmont/Wasamac has been marked down dramatically - and was wondering if it was worth bottom feeding here, or was Wasamac THAT big a deal. From over $12 recently to almost $7.

I noticed you never swore them off like Paramount (PZG) Gold.

If you would own here - I will do some due diligence.

Thanks in advance.

Jmsvett
Thu, Mar 29, 2012 - 9:39pm (Reply to #1935)
Eric Original
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jmsvett wrote: Eric - I

jmsvett wrote:

Eric -

I totally missed Richmont Mines when it doubled. So it really was never on my radar screen.

Sorry to hash out an open wound - but Richmont/Wasamac has been marked down dramatically - and was wondering if it was worth bottom feeding here, or was Wasamac THAT big a deal. From over $12 recently to almost $7.

I noticed you never swore them off like Paramount (PZG) Gold.

If you would own here - I will do some due diligence.

Thanks in advance.

I still own mine. I'm not going to just dump it. I was just really pissed off that day, that they could miss soooo badly on that PEA. Cost are going up all over the place, and I've seen several PEA's recently that kind of pushed the limits of attractiveness. But this one was just plain bad. I'm mad at myself too, because I should have seen that coming. I had a post or two about how I just couldn't see what they had in mind with Wasamac, but I figured why not wait and see. Ouch. I really didn't think there was that much value of the stock hinging on Wasamac, so I'm guessing a lot of the sell off is disenchantment with management, like I had.

Long story short, I still have mine. I've had some time to cool off. RIC is a volatile stock, with plenty of volume. It will have another run. And I'll trim it then. I don't think I have to turn my back on them completely. The CEO is already on his way out. They recently put Bob Buchan on the Board. He's kind of a big wheel. He must see something he can work with, or he wouldn't have put $10M of his own money into the company recently. (I bet he's not happy right now though!)

After this wipeout, market cap is down to about $250M, and they had $69M of working capital @ 12/31, including $63M of cash, so it suddenly seems like a decent value. I think they are supposed to produce about 90,000 oz this year, though costs are a little high.

Looks like I just talked myself into keeping my Richmont/Wasamac stock. yes

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Thu, Mar 29, 2012 - 9:47pm
Eric Original
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Primero

Barker over at Motley Fool was out today pounding the table for Primero again. The market cap, cash balance, production, all sound a lot like the numbers I just posted above for Richmont/Wasamac, but even better. The only bugaboo is the whole silver situation. I own a bunch of Primero, adding a little more just last week.

https://www.fool.com/investing/general/2012/03/29/primeros-golden-promis...

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Thu, Mar 29, 2012 - 9:51pm
Eric Original
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Aurcana

Update from Aurcana today. Imminent start up at Shafter, and expansion at La Negra.

https://finance.yahoo.com/news/aurcana-commission-plant-shafter-mine-212...

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Fri, Mar 30, 2012 - 8:34am
Eric Original
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Year end results from

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Fri, Mar 30, 2012 - 8:38am
Eric Original
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Rainy River

Yesterday morning I was crunching the numbers and decided that Rainy River was finally cheap enough to buy. But I didn't do it, for lack of dry powder, or lack of nerve, really. So what does it do? Later in the day it goes up 7% without me! 

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Fri, Mar 30, 2012 - 1:28pm
Eric Original
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Good stuff at BOG's place

Good post from BOG today, with follow ups from zman and myself.

https://www.tfmetalsreport.com/comment/554569#comment-554569

Expect a lot fewer "routine" news posts from me for a while. Market moving stuff, or solid analysis, or I'll just let it go.

Though I am thinking about some stuff for the weekend in the nature of "Lists", etc. People seem like they like a "List". I've been resistant to the idea, or at least lazy about it. But I'm thinking I'll steal a page from my gal pal BOG and put together a more formal "List" soon.

In the meantime, remember, "It could be worse. It could be raining."

It Could Be Worse
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Sat, Mar 31, 2012 - 11:45pm
ID
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Eric, How come all of these

Eric,

How come all of these look the same ? (yes I know I can't draw! But maybe that's not why!?)

I've never done any TA and have no idea how but I just noticed *most* of my miners look like "half circles". IS THIS THE TIME TO BUY BUY BUY ?

What do you think ? =)

We all HIGHLY value your input on this and other threads, so don't disappear nor despair.

Sun, Apr 1, 2012 - 12:18am
Eric Original
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Good observation

The fact is that most of these miners will track more or less together. Let me put it this way, each of them is in fact their own little paper boat, and they can do some of their own things, one might sink, and one might fly, but generally speaking they are all floating on the same wave. Get it?

Here's a chart of the GDXJ, an ETF of junior miners. I think you could draw the same "half circles" on this chart as well.

The plain fact is, that no matter what kind of genius you are at picking stocks, once you get past maybe 15 or 20 names in your portfolio, your overall results are likely to track pretty closely to a fund or ETF like GDXJ. It's just the laws of large numbers at work.

All that being said, YES it "might" be time to BUY, BUY, BUY! The greatest buys are made when fear and loathing of a sector at at their worst. So, now might be the best buy we've seen since the fall of '08. Or, it might not, and it might just be a chance to lose a serious amount of money. That's the fear. That's the risk.

Here are a couple of articles by someone who I think maybe knows what he's doing, who is looking at basically the same sort of formation you are looking at. A lot of down, but maybe a little lift here recently, making that smile or half circle, as you call it.

https://www.gotgoldreport.com/2012/03/hidden-strength-showing-in-small-m...

https://www.gotgoldreport.com/2012/03/hidden-strength-showing-in-small-m...

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Sun, Apr 1, 2012 - 9:29pm
kjm
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Trivia

Which Quebec miner is producing gold at cash costs of $2000.

Sun, Apr 1, 2012 - 9:37pm (Reply to #1944)
zman
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kjm wrote: Which Quebec miner

kjm wrote:

Which Quebec miner is producing gold at cash costs of $2000.

This is not good, I really hope I don't own it, but something tells me I do. 

Sun, Apr 1, 2012 - 10:39pm (Reply to #1945)
kjm
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I doubt that you own this

I doubt that you own this junior Zman......at least I sincerely hope you don't.

Mon, Apr 2, 2012 - 5:53am
Eric Original
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beats me, kjm

Like zman, I'm just praying I don't own it.

It's bad enough watching typical costs rise across the industry, with a lot of miners going from 500-600, up to 700-800-900. To be coming out at 2000, it has to be a very specific situation. Either barely starting up, or a sudden collapse, where an awful lot of costs are being spread across a very few ounces.

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Mon, Apr 2, 2012 - 8:03am
Eric Original
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Some familiar names mentioned

Some familiar names mentioned in this article about large institutional buys and sells. AUQ, NGD, among others.

https://seekingalpha.com/article/471311-top-small-cap-and-mid-cap-gold-m...

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Mon, Apr 2, 2012 - 9:06am (Reply to #1944)
MUDbone
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Which Quebec miner is

Which Quebec miner is producing gold at cash costs of $2000.

Alexis T.AMC ?

Gold production from Lac Herbin was 3,672, with an average cash cost of $2,060 per ounce

Mon, Apr 2, 2012 - 9:07am
Eric Original
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The List is Under Construction

I'm working on my "List" this morning, but I have a problem. Too many interesting names! Far, far too many. I'm going to have to do some serious slicing and dicing, and make some hard decisions as to who makes the cut. A lot of stocks that I like just fine, may not make the list. I need to shorten it just to those that are above and beyond fine.

This will likely delay the posting of any formal List for at least a couple of weeks.

Website under construction

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