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We are not underpriced currently,except TRGD to TARM.(
That is as we cannot be easily valued.We need consistent production at DR.That is a wait ahead.If we establish 480 t/p/d we look priced okay,BUT of course,no real value for our other blue sky land,or indeed exploaration of DR.
When we set a value,trouble is,what model to use.Blue sky is not a lot of help,though it sureis exciting,whereas production gives a simple,starting point.
Overvalued?Undervalued?We do not really know yet.
Heck,I am not selling and neither are you.Like a lot of us,waiting for the news.
Bother,you are right.My PE ratio refers of course,to the first full year's production-probably costing near $100 an ounce,I recall.Thank you for the kindly correction.
Looking further out,the costs change of course.
Now an important other issue;once we are producing at target,70,0000 ounces a year,when will we see 30% going to exploration/drilling?
$20 million or so,in an exploration program,could see a lot of new excitement,based on our drilling history to date.Heck,$5 million can get a lot of drilling and assaying done.
Yes,normally exactly as you write.
The thing is ,GORO believes by sometime in 2011,we will be almost paid to produce gold and silver.The credits are that good.That is,the base metals,some 30% of production value,will pay for the 70% gold and silver component to be mined.
Please double-check,I think I am right on this one,based on GORO projections.
http://www.gold-eagle.com/editorials_08/maund021510.html
Looks like the precious metal sector could be breaking out.That will do TARM/TRGD good.We have resources-lots of blue sky plus one hopes,growing production.
Curious,a top post.Thank you.
Lootie
Some of us have been hre a while.A turgid story of hype that seems to be getting much more realistic lately.The new controllers,the Seabridge guys,are a strong recommendation.The discoveries so far-well we have a resourse but not yet of high quality.However,lots more drilling targets in SM plus the very interesting Temorris property.I would not expect a smooth ride but this could pay patience.
Sorry K,just read your note.100 million TRGD is very close.Unlike Great Panther,we are not in the habit of dilution.
I have done simple arithmetic that I think fair.
We will produce 80% of the planned 70,000 gold ounces,soon,I assume.
That comes to about 56,0000 gold ounces.Value say $50,000,000.
M/C $462 million.I think a PE ratio of 20 will occur ,possible this year,but I use a PE ration of 14.
14 times 50 million,some $700 million/462 comes to about $15 a share.
Yes,buts and variables I admit but I think generally,$15 a share a fair,medium term target.A year out,I expect over $20 a share.
Then again,$20 has been a target I have had in mind,since early 2006.
I add,just quietly,as GORO has meet all reserve targets so far,when we hit 3.5 million gold ounce equivalents,with some 70% of that precious metals,the production targets will be uprated.
The Reids have consistently suggested a 7-8 mine year life.Hence,I see a production target over 200,000 a few years out,with a SP adjustment in accord,as events occur.
I have bought ahead of events with this stock and to date,it has done me good.I personally expect a similar price appreciation,over again,in the next 5 years.
Of course,economic,lies,govts, trends,fear gold's value-all will impact.Mind you I need to ad,more drilling could bring a lot of excitement too. I trust gold and silver-I do not trust most economists,govts,Keynesian looniness or paper money.
I can remember not long ago,this site had a number of what I considered bashers.In respect though,I regarded Bobwins for example,as a thoughtful,cautious investor.
Lately this site has become a pumper's wonderland full of speculatave twaddle-much of it with genuinely minimal foundation.
I state this bluntly.I have seen too many trusting investers burnt reading and giving accord to nonsense.
Do I deny good news,no.But I do not jump instantly to the best possibilities one might imagine either.I too though use my calculator and get good and better.
Look,the new zone looks super promising.
So all our ore will come from there!
Based on what?
Which of our pumpers is Rich in disguise?
Men who know more than Rich?
How much ore?
When to change?
Slow it down.Investigate.I am locked into our stock,as I believe it has unusaually good prospects.We own Centenario.We own what we know so little of in the exciting DR.We own Pilar de Moricibo.We own Pichachio-which is quietly rated very well.
By mid March,El Aquila should be producing some $35 million a year,annualised. That odf course assume production remains at 80% of the commercial level.Most unlikely.
What it seriously means is very good initial cashflow.Allowing a PE ratio of 20,we should hopefully will see GORO hitting $14 .
Up over 3% today,as i write,on low volumne.Could be some skilled buyers out there .Reluctant sellers is a healthy sign.
I certainly am not selling.This year should see much of the plot of our future unfold.
Get those drills humming.Both SM and Temorris need rigs on site.
59 now in USA.Still well underpriced visa vi TARM.
A different stock.
Dofficult to comment on projected PE ratios as the stocks are not valued proportionately.Currently TRGD is undervalued by 35%.
Must be time we had drilling and assay news.
TRGD hit 59 cents today,up 11%.
Looks like some are realising,if TARM is worth $2.00,TRGD is worth 80 cents.
At 59 cents,you can still buy TRGD at a 35% discount.
That is some arbitrage.
A problem is,we are a new producer.Just getting our processed ore up to spec is a demanding task.Then adding more as we get production to a maxuimum for existing facilities-all time consuming.
Given the new base metal,and Centenario,we need to know more as to how much ore we may have .
At some stage,seriously considering adding to our productive capacity,must occur.I think such will be occurring before the first half year is past.
Goodmorning team and Trader.I have heard we found a new base metal zone at DR.Currently waiting on assays.The larger the base metal resource and richer the ore,the better.
Production.Well we are targeting well over 400 t/p/d and revenue could be near 50 cents a TARM share.Some 20 cents per TRGD.Once cashflow is consistent,will we be limited to today's production facilities?How modular our system is i do not know.Enlarging our facility,maybe increasing base metal possibility and a gold line?But first,let us have money in the bank.6 months production in the bank suits me fine.I still have fears for the world economy so my approach is slow and cautious.Let us pay for the existing facility,bank the cash,then maybe add to production.Cash,is a great security blanket.Silver in a bank box is better looking though!
I too would like some financials caught up on.Rich does seem to be extremely busy presently.
Be careful out there.
PZG has certainly received a rerating with heavy volumne often.No adequate reason for the rerating so I assume insider buying.Institutions?I do not know,I have seen no evidence yet.
We do know,PZG has 7-8 targets to drill in San Miguel .I do not know if more hyperspectral information has come through-that process is detailed and very time consuming.Personaly,it is the drilling of Temorris that really interests me.
It is good to have the trend us friend.
Unlikely to jump into gold production,though processing is easier.The base metals are paying more and we are tuned for them.Now if the new base metal discovery pans out,where would you want your ore from?
Still,good news today.
Rampant enthusiam is NOT warranted.Heck,where are the profits,maybe cashflow would be a good start?
Too often TRGD shareholders have faced diasappointment.Let us steady the ship of hope ,till hope has wind in her sails.
Yes,we have potential.
You are right.TRGD is selling for about 2/3 of its value,relative to TARM.
It would be nice to have some TRGD/TARM news.
Anyone own PRO.Pershimco? The price has been moving up,today a good run on 3 times normal volumne.
As an MAI shareholder,I was one of 1000s affected aby HOC's gross attempt to take over our company for a song.HOC delinberately encouraged mAI to expand fast,lending MAI the cash.Once MAI was extended,they closed their pre planned trap.
Only McEwan stood before shareholders and HOC's malevolence.
HOC set Exmin up similarly,then walked off with Exmin's jewel:the Morris Mine.
The Reids hold 24% of GORO.They got diluted by the HOC placements.
Maybe true,but I am a long term shreholder.Therein my concern.Check the condiuct of HOC with their JV partners-EXM or MIA.
Exmin and Minera Andes.Manipulation comes to mind,followed by theft.We cannot turn our backs on HOC.They are scum who should be working with Goldman Sacs or Obama.
This news has no affect on TARM but it certainly greatly strengthens TRGD's balance sheet .
If HOC got control of GORO,we,the shareholders would be shafted.
There is still no evidence of HOC buying on the open market.They just got another placement.
Could HOC be going to fund more of the underground mine?
Any realistic idea of the cost for the first of our underground mines?It certainly is unlikely to cost the $8 million set aside so far,for that purpose.
Up 6% today following 8% Friday.Looks like the weak hands are finally sold out.
For those of us a little frustrated that we had no addition to production news,we know why.Still near the 100 t/p/d.
Getting a set processing partner and payment structure was crucial.Secondly,with 2 rich base metals,we needed help refining our own processing to separate off the concentrate we sought.
Now both those issues are solved.Now we can increase ore processing and begin looking forward too sending off concentrate.
In addition of course,we know have a gold line getting thought through and ore stockpiled.
Getting appropriate processing occurring is clearly time consuming but we have made a lot more progress
Oh ho,moanmoana is off again on irrelevancies.As if she/he/they have any idea on a stock they do not own.
Ever notice how the indulgence and deterioration into abuse happens so often and quickly.
So moana is the only one who understands TRGD !Yeah,and Geitner is an honourable man.President Bush (junior),a disciple of Thomas Jefferson and Goldman Sach a discount clothes store.
The worthless commentator is the constant basher.So Rich should run a theme park.Then get thee gone thou lying sod.You are far to wise to own a stock run by a theme park owner.You contradict your self too often.Most here see through you.
Damn liar and fraudster.
For those of us a little frustrated that we had no addition to production news,we know why.Still near the 100 t/p/d.
Getting a set processing partner and payment structure was crucial.Secondly,with 2 rich base metals,we needed help refining our own processing to separate off the concentrate we sought.
Now both those issues are solved.Now we can increase ore processing and begin looking forward too sending off concentrate.
In addition of course,we know have a gold line getting thought through and ore stockpiled.
Getting appropriate processing occurring is clearly time consuming but we have made a lot more progress.
Agreed,a takeover stops shareholders getting realised value-the value goes to the new owner.
Problem is,the share register of TRGD is open and a lot of properties look interesting.Not that potentially good properties is bad but with such an easy to move on scrip situation.
I asked Rich about the financials.He said he is concerned and hopes to get the next year's out soon but of course,many variables influence when.Sooner the better.
Joint ventures are probably what kept TRGD solvent,regardless of not meeting expectations.It might be too early to call JVs over.
TRGD is in an interesting position.Production numbers look good-but of course,we need more information and some serious banking.Hopefully not too far out.The Glenocore agreement should speed things a lot.
Once we have cashflow,we have Pichacho to explore and to provide news.Those 2 occurrences will add considerable credibility to TRGD.Now consider our land bank.Many of the properties look really interesting and desirable.Finding and buying desirable properties seems to me Rich's greatest skill.A very desirable and rare skill.More exploration on the land bank could well bring JV offers worth considering,plus,make TRGD a possible takeover target.
Must be getting close to more news time.We can beat,Rich has not been relaxing and waiting for winter skiing.Rich and Ramario will have been busy on our behalf.
+One important aspect of GGI not really per eived is the value of GGI's holding in PZG.The PZG shares value at close to the M/C of GGI.You get all GGI's properties for free.
The PZG shares are what PZG offered or Temorris,one of the many GGI properties.Are the other GGI properties really of no value?
We can still expect a lot more information from the hyperspectral survey.That woill provide area for close inspection,saving a lot of time.PZG is using the same technology to pinpoint targets in Temorris.Strong drilling results on Temorris will both affect the PZG shares we own and GGI's value,as one proven property will reflect on our portfolio.
GORO has used up all its cash from HOC.More cash is needed,possibly to complete the production phase.
A PP now would be at a much higher price so the resulting dilution would be minimal.
Moana cannot help his childlike self,there he is again,off into personal abuse.At least my MA required me to be able to read ,write and think.Socialist-such a silly disparagement.So all kiwis are the same?(The mind of a child speaks)
Socialist-have you ever looked at the increase in USA taxes 1900-2009?Ever looked at the FEMA legislation?Ever looked closely at the Patriot Act.The USA constitution is defunct,sadly.My political and economic hero,Thomas Jefferson buried.
You do not like Rich,you do not like the business model.Then you lie again and say you own TRGD shares.Simple logic says you should not own shares.How could you own shares in a junior you declare is a load of rubbish.
Go whining into that good night.Moan off somewhere else .
GORO is the junior I see as most prominant among those not seeking early 43101 compliancy.They made their no 43101vclearly very early on. If one looks closely at the institutions that own stock,clearly somone believes in the business model.I have no complaints about the share price since I bought in 3 years ago.5 bangers are not that common,nor the 10 that will occur.
I go so far as to say,I am looking forward to GORO production starting this year.Production involving the receipt of lots of dollars appeals to me.
Now as TRGD and family have adopted a similar model,I would not currently complain; I do wait enthusiastically to see production increase and dollar flowing into our bank account.Rich made our business model clear long ago.
Funny thing is,money in the bank to me is a most reassurring financial record.
Once TRGD and co have spare cash,with the mine/mill paid off,we are in a position to explore/drill our properties.Drill and explore,WITHOUT having to do placements and dilution.Have a look at the traditional junior model as followed by Paramount Gold.They confirm a resource,a fairly lightly mineralised resource-then die.No more money.Off on the begging circuit.
TRGD /TARM had a very early advantage-properties like Don Ramon were found very early to have a rich resource:a rich surface resource-ah now that is fortune with a smile.Rich enough so that a $3 million dollar mine/mill could be paid for fairly quickly from a smallish resouce volumne wise.Could that be risky,maybe.However if the resource petered out early,there
are 2 adjacent 100% owned properties with rich ore.That my TARM has tripled I am not complaining about.I am not the whinning type.
If we had spent $3 million on exploring Don Ramon, we would be much shorter of cash -exposed to the whim of financiers like HOC.Imagine being forced to consider HOC as a partner.Poor Exmin.Poor MAI.
Give TRGS and co credit-our freedom from financiers is great.It will be greater still when production increases and we get notified,cash is flowing into our bank account.
If you do not like the TRGD models,stop tossing your dummy,sell and buy juniors seeking to follow your chosen model.Go buy some PZG or MAI.
In short,bash elsewhere.You do not like the stock.Sell.Sell.Sell.Clear off.What part of my logic is not understood?
Previously when TARM went to well over $1.50,the share price made TRGD relatively cheap-and better buying.Now relative to TRGD ,TARM is worth about $1.60.
I am using the ratio 1: 3.2.
Next week could be interesting for the TRGD family.