I've been following the markets just superficially for the last couple of months. I know it's a tremendous buying opportunity for junior miners especially, and I've just has a (at least for my standards) substantial amount of cash made available to me. I'd like to get the maximum out of my $$$. Please recommend me some miners that are really dirt cheap, so cheap that they could pass as presents.
Note that I already own a good amount of physical PMs, mainly silver, but little miners, so this is my opportunity to establish a significant holding in miners, and I believe this is a great opportunity right now and I want to take advantage of it in the best way possible.
Oh, and of course I am also interested in gold mining stocks, if the value is right.
I personally like Wildcat Silver (ws.to) - Large rich deposit for open pit mining in southern AZ. They will release their updated 43-101 soon which will have something like 300+ million ounces of silver...indicated and inferred, with large manganese byproduct. This seems to me like a property which will be put into production...Silver Wheaton put $10m into them. There are very few juniors which have a primarily silver deposit with the ounces of their property.
It held up very strong during the last downturn but this cycle its def getting hit like all the other miners. Lowest its been for couple years....I've been accumulating more around this .80 to 1 level.
Right now is an ok time to buy some but they could drop lower in the coming days and weeks.
FSM at 3.60 area is ok, but again, I rather wait for one more drop in wave structure, which looks like it wants to drop lower.... to 3.40 area as a best bargain...and it could fall to a double bottom around 3 dollars. ...... its always a best guess/gamble.
but they could Also hold at support levels which is where we are at right now.
Given this backdrop..... the best miners I see at reasonably bargain prices now, would be
SVM around 5.50. I rather wait to see a double bottom at 5 , myself.
FSM between 3.60 and 3 dollars
Premier Gold (PIRGF) between 3.50 and 4
AXU at 3.50 -4 ....needs another drop lower to get in that zone. ....a very good silver miner.
EXK at 7 area ....watch it come plunging down to 7 ...buy there.
AUY (yamana) has held up stronger that most miners, I smell a trap here. wait to see it come falling down to 12 and 11 to buy there,later in the summer.
Kirkland Lake gold at 10
EGO at 11 area
Aurcana silver at 70 cents.
Thats good enough.
look at the charts. you see some miners are not close to their bottom zones.like AUY and Pretium. Pretium is a great miner to own....but I wouldnt touch buying it until it falls below 12...... a price around 10 is a bargain. same with AUY. and First Majestic. same thing. wait for the next bottom zones for a bargain. summer doldrums is just starting .
The charts are looking like they will slide on down in a semi circle to round out the bottom this summer.....give it time to bottom.
Thanks for the effort T, but these are not what I consider cheap. I did some quick searches on my own, and came up for example with Jaguar Mining and Exeter Resources. They're right back where they were in 2009. Or what about PAAS - it's almost as cheap as 2009 as well.
You have mentioned lots of stocks that are up a couple of times from their 2009 lows and only 30, 50% off their highs. That's not cheap. Certainly not dirt cheap.
Don't get me wrong, I absolutely think those stocks are worth their money, and then some, but as I've said, I'd like to make the most out of my money, so I prefer those stocks where the vultures already seem to be circling.
Thanks T! Give me something to look at. The whole miners thing has been a big beat down, hope it changes for the better.
doesn't mean there is value. A lot of the silver miners like Hecla etc seem to have a saga battle against high costs etc....and some of those others that you mentioned are also in the perma-things going wrong arena.
I'd rather own a undervalued or near value quality miner/junior than a cheaper-than-dirt crapola miner.
For instance Yamana has really been hitting on all cylinders for a few years now and have some nice properties coming online...and they just acquired extorre for a cheap price. From the research I've done the ones that T mentioned all seem like good plays....I don't agree with T's technical analysis as I see no point in it with a highly manipulated market which is subject to the whim of central bankers/politicians. I bought things on the way down during 2008 (not near the absolute bottom) but I realized that they were cheap considering the properties coming online and the way politicians would react - bought auy at 6.82 but it went all the way to like 4.5...
I guess my point is not to look at the charts too much and determine "value" from just doing some ruler comparisons to where they were in 2008. Share dilution for acquistions/funding would also distort that "value" perception as some of these certainly have a ton more shares outstanding now than they did in 2008.
Value doesn't matter much at this point. None of the prices of these small stocks reflect their actual value, not by a few orders of magnitude. These stocks are the easiest to suppress, simply because it doesn't take much. Take down couple of billion dollar Barrick, or use the money to take down 100 juniors? Hell, they will take down these small stocks, and then some. Then there is panic selling by some holders, and that's where we are today. This market has no relevance other than to use it to scoop up stuff, no need to be too picky, just scoop up what looks beaten down the most.
When this market moves towards its normal valuation, or perhaps even overvaluation at some point in the future, people will just pile in and this small market won't offer them many choices, so when this market takes off, and this may take several years or even a decade, every mining stock will take off. The only quality that a company must have is that it must survive until then.. but if you own a couple of dozen stocks, that will not be a problem.
What I bought yesterday was Exeter, Golden Star, Guyana, Jaguar Mining, Pan American Silver, Sabina, and Silver Standard. Note that I already own 10 or so other stocks. I don't own TRX and SLW yet, would love to pick them up, but TRX is too expensive here and SLW is way way too expensive here.. look where it was 2009.
A couple of these stocks I bought have gone down 10% today. I don't give a shit if it the sector goes down another 10x from here, would just prompt me to allocate more of my capital towards it. And so should you.
Seems like you already have a good idea what your buying and your conviction to buy certain companies so don't know what the purpose of the thread was, but G'luck nonetheless.
Well, I had cash made available to me on a short order, then I started this thread and began searching for miners myself simultaneously. Thanks for your input nevertheless Koddo. How do I easily find out how many shares outstanding a company has and has had? It would be cool if there's a site where there are charts of shares outstanding over a given period of time, just like price charts.
In the silver sphere there is one making a major move up the producer ranks and it served Sprott it's dopey arse on one of their horrid financing deals.
Yup tis Aurcana and future appears blue sky.
Check out Stock Broker extraordinary James Dartnell's work ...
Done by HGW12 on the stockhouse site.Shows the massive revenue flows and how AUN has fared against rivals in the last year:
Indeed AUN's chart needs absolutely no repair... It actually looks pretty impressive!
Take a look:
Like I said before, a picture is worth a thousand word!
If for some reason these do not post properly and bring up the images just go to the stockhouse AUN board and note the date and poster,HGW12.
just freed up some cash on some losers and assorted older junk...want to beef up the holdings to take advantage of what I perceive as an upcoming silver surge back into the $40s, and associated run up in miners.
Any thoughts on quality silver or silver-gold miners that're still WAY undervalued after the Aug-Sep run, especially given what they have in the ground that can be gotten to in a reasonable timeframe (want current producers only, don't want any more pure explorers like CZICF or EGI for now).
Also looking for quality high dividend miner long term plays while they're still cheap.
Here are some miners I hold at present: AUNFF, AXU, HL, USGIF, OCANF and NGD. These are my favorites right now, based on how they are performing right now, as well as my expectations for the future. I am also looking at geographical safety with all the nationalization fear at present. Most of these are largely U.S. and Canadian.
I also like these streamers or royalty companies: SLW and SAND. In SLW I hold a lot of options, and in SAND, I hold the Oct. 2015 warrants, SDXXF.
Hopefully this will give you a place to start. Do your own research, and make your own decisions.