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This post hits the nail on the head. All this breast beating is over a piddling number of shares passed back and forth by day traders working in their pajamas in their mom and dad's basements. If anyone has any hesitations regarding the merits--and eventual success--of this project, I would strongly encourage them to sell their shares. I, for one, would love to pick up another 100k shares at less than 40 cents U.S. I'm not going to hold my breath waiting for it to happen however. In the meantime, I'm just going to be patient. Given the eventual payoff, I'm willing to wait quite a while.
Actually, I don't think the actual report will be out by then, just a PR regarding some of the high-level results. If there isn't any information out by then, or at least late March, I think the SP could go into territory not seen since early 2016. In the long run, it won't matter much, but will likely scare away a number of people who've joined the party more recently. Given that I started buying at around a dime, and have enough shares to retire very comfortably when the stock hit's the $4-$5 (US) range, I'm not terribly concerned.
Anyone want to get in on a pool for the release date of the BFS results? The winners gets a dollar from all the participants, which can be applied to the first round of drinks when we meet up at the mine ribbon cutting. My vote is for February 27th.
I hope the prospect of big pool winnings will distract people from the ups and downs (mostly downs) of the stock of late. They are of no consequence for anyone but day traders. The reality is that Niocorp has very little trading volume, so anybody who buys or sells 10k shares can noticeably move the price. That is the nature of penny stocks. Hopefully the company will move out of that category within the next 24 months. I've invested enough in the company to have every confidence that it will. If you have any doubts as to the potential of a pre-production mining operation, take a look at Ivanhoe Mines, up 475% in twelve months. Once this project is financed and commences construction, it's going to rise into the $3-5 dollar range. For that kind of return. I'm willing to be patient.
Yet another company jumping on the niobium bandwagon, this time in Canada...
http://mdn-mines.com/wp/wp-content/uploads/2016/06/MDN_Corporate-Presentation_June-20160617.pdf
It's an older, formerly uneconomic project owned by Barrick. I can't imagine it would pencil out relative to Elk Creek, Panda Hill (Cradle Resources), or DZP (Alkane Resources), all of which are further along, or in the case of Elk Creek, further along with twice the grade and road access.
The woman running the Monaco Growth Forum has some interesting past dealings, including some sketchy associations and a dubious lawsuit against Twitter. No fire, but definitely some smoke.
I'm sure that Mark and Jim have at least Googled the woman and done the cost/benefit analysis regarding participation. It seems they are targeting European money looking for a safe, post-Brexit haven. That certainly makes sense.
It's quite possible that it's all on the up-and-up and that it's not possible to be in the securities business without running into a few unsavory characters. I'm just a simple old engineer and I've worked for and dined with people who wound up in jail (contempt of Congress), resigned under threat of indictment (the prosecutors are still chewing on that one), or managed to enrich themselves while erasing tens of billions in stockholder value. If guilt by business association were an issue, I'd look plenty guilty myself.
That's 9500 gpm (gallons per minute) one of two standard units for flow rate, the other being cfs (cubic feet per second.)
The nature of the Net Present Value equation makes calculating value past years 30 or 40 pretty useless for financial analysis purposes, as the discount is so high it doesn't add much to the overall economics. At a 5% discount rate, a dollar is worth less than nine cents in year 50. It also doesn't necessarily make sense to pay more up front to put more product on the market sooner, because that may simply depress the price, causing one to work twice as hard for the same amount of money.
You can assume that no small amount of thought (and repeated Excel spreadshet iterations) went towards the present mine plan as the best balance of capital cost and ROI, given present economic conditions.
The one thing that you can logically assume however, is that with a large resource, the company will be around, and potentially generating dividends, for a long time, as long as production costs stay below new alternatives.
For now, it's all sound and fury, signifying nothing.
All the conjecture regarding permitting is just a waste of bandwidth at this point, barring official word on permitting status from the Corps or Niocorp. Clearly there is a risk of higher costs and delays attributable to permitting. That is just one of a multitude of risks with a range of probabilities--and therefore quantifiable values. That is why this stock currently has a value of $0.71 (US) when last I checked, rather than the $15+ value recently posited on this board. That's a pretty substantial risk discount.
On another note regarding "manipulation" of the stock price:
It's human nature to see a conspiracy whenever things are not as we think they should be. However, it's highly unlikely that dark forces are manipulating the price of Niocorp. People who make serious money on trading stocks would not waste their time on a penny stock that typically trades in volumes of tens of thousands of shares on a good day. In all probability, the ups and downs of Niocorp are attributable to day traders sitting at their basement workstations in their underwear buying and selling the same five- or ten-thousand share block each day or week. It beats working at the local Walmart. If the noise truly bothers you, stop listening or find a "quieter" stock.
As for me, I fully expect Niocorp to fund a very comfortable retirement, and I'm willing to wait 3-5 years to see if I'll be retiring to Oregon--or a villa in Tuscany.
At this point, if NIOBF hits $5.00, I'm retiring to a hobby vineyard in Sonoma County. If it hits $12, I'm retiring to Sonoma and endowing a professorship at Stanford.
I did. Tripped a limit order threshold for 25k.
Any topic relevant to the success of Niocorp should be fair game on this board. That includes any potential competitors in the niobium, scandium, titanium, or to-be-name-later product space, including Cradle, Clean TeQ, Alkane, Texas Rare Earths, or the multitude or others vying for a piece of the pie.
I looked into Cradle and other carbonatite resources back in 2011 when I was looking to roll my Molycorp windfall into another rare earth startup. Panda Hill is not a new discovery by any means, having first been mined in the 1950's. The fact that it has languished for more than half a century is telling. Although Tanzania is not the Congo, neither is it Australia, Canada, or Nebraska. If you look at what Elk Creek has going for it relative to Panda Hill, the balance clearly tips in favor of the former.
Success in mining requires far more than a promising deposit, or even a favorable DFS. Just Google "Pebble Mine" or for a niobium-specific case, "Seis Lagos," a likely undevelopable Brazilian niobium deposit six times the size or Araxa. Converting dirt and/or rock into shareholder profits requires the right combination of resource, location, process economics, market, regulation, "social license," personnel, and luck. Elk Creek may not be the best in every category, but it's certainly the best overall, and the reason I bought another 25,000 shares this morning.
My two cents...
I've noticed that the conversation of late has gotten a little heated, so I would suggest that everyone should, as we say here in California, just chillax a wee bit. A few points to consider however:
1) This project is at least two years from production. A lot can happen between now and then. Any analysis should be based on long-term trends, not a snapshot in time.
2) This project will be around for a long time, well after many of us are dead and buried.
3) If you don't have faith that the people who run Niocorp are honest, you should exit your position as soon as possible
4) While the prices for both niobium and scandium in PEA2 may seem "optimistic" to some, they appear to be backed with real analysis and data, plus likely some information not available to us. It's also possible that SCY has underestimated the price they could potentially get for scandium oxide.
5) Anyone who makes investment decisions solely based on what they read in a blog frequented by mostly anonymous posters, deserves to lose his or her shirt.
-Long Niocorp
-Long Largo
-Long Scandium International
-Tripled my money on Molycorp (I'll admit my timing was lucky...)
-If you are a professional engineer or geologist, it's not trivial to put your stamp and signature on a document
-I Trust Niocorp's management--and their self-interest...
-Expect that eventually there will be more to Niocorp than just Elk Creek.
-Don't expect that the company will still be named "Niocorp" in 24-36 months
-Do expect that the new name will contain "Superalloys"
-Still think that Niocorp may be gobbled up before it starts construction, it's just to sweet a project to pass up, and currently selling at a bargain price.
Here's probably the best source for the information you're seeking:
http://investingnews.com/category/daily/resource-investing/energy-investing/lithium-investing/
I intend to be there too. I haven't been to Nebraska since I drove through it 34 years ago while migrating west for grad school. I'll be the guy in a Hawaiian shirt with the cute redhead on his arm.
Not in Lincoln apparently:
http://www.timeanddate.com/time/change/usa/lincoln
I noticed on the web site that the town hall meeting starts at 6 pm CST. Out here in rainy California we're switching to Daylight Savings Time on Sunday, March 13th. Is that a misprint or does it just take awhile for Nebraska to catch up with the coasts?
Lithium-X has acquired most of the Clayton Valley claims not already owned by Albemarle or Pure Energy Minerals (i.e., the less-promising areas according to prior gravity surveys.) Yet another paper lithium miner, Ashburton Ventures, has picked up a couple dozen claims in between those of Lithium-X and Pure Energy, and Nevada Sunrise Gold has grabbed some ever further out. It seems as though everyone wants to claim some land near North America's sole lithium brine operation in order to seem like a player in the great lithium rush.
Lithium-X made a bit more of a splash because of the two founders, both well known in Vancouver finance circles. One, Brian Paes-Braga, is the 27-year-old son of a well-known figure in the Vancouver hotel industry and a deal-making wunderkind in his own right. The other is Frank Giustra, a well-known financier of mining projects. Unlike some of the other Nevada lithium wannabees however, Lithium-X also has some claims in an Argentinian salar about 25 km east of FMC's Hombre Muerto project.
Other than raise some money and grant some stock options, Lithium-X has done nothing on the ground. They are years behind either Western Lithium or Pure Energy Minerals on both continents.
there's a a nice map of who owns what in Clayton Valley here:
http://www.lithium-x.com/clayton_valley/
No disagreement that there are some very educated posters on this board, (Ivy and Stanford degrees in Chemistry and Mechanical Engineering in my case.) Part of the fun of blogs is separating the wheat from the chaff. I also agree that this project is likely on the DoD watchlist, along with many other mineral projects and technology companies. Their interest is helpful, but pretty limited. Given my experience as a G-man (Reagan era U.S. EPA) their support will most likely take the form of a positive "comment" to the Corps of Engineers report. The fact that the DoD would love to have domestic sources for three critical materials won't sway any bankers.
What got me interested in Quantum originally was a technical article about the "Elk Creek Anomaly." Having been an avid rock collector in my youth, and growing up near a couple of equally "freakish" geological lanomalies (Frankin and Paterson) in northern New Jersey), I was hooked. It was just about the time everybody was in a rare earth "panic" and I had already bought into Molycorp and Avalon. A rare earth mine under the cornfields was just too good to pass up.I sold out of Molycorp and Avalon years ago, tripling my investment in the former and breaking even on the latter, but have stuck with Niocorp. It's really at the top of greenfield junior mining projects, for many reasons.
Thanks. Still trying to figure out how my spellcheck turned an attempt at "generally" into "geenrally" though...
Being too cheap to get an upgraded Investorshub subcription has some advantages, given that I can only post on "Free Fridays." It means that I can easily resist the temptation to react to some of the posts that appear throughout the week. As such, I'm not going to comment on anything specific, just make a few observations triggered by events this past week:
1) Niocorp is currently a penny stock geenrally trading in very small daily volumes and thus highly subject to short-term manipulation. There are lots of people, often with multiple on-line aliases, who troll stock blogs in the hopes of hyping or trashing companies in the hope of profiting from short-term price swings. If you look at the volumes actually traded during some of Niocorp’s wild swings, you will see that they often represent 10,000-20,000 shares of stock. In all probability, that means some 35-year-old guy, otherwise unemployable and living in his mom's basement, has just made a couple of hundred dollars. It's nothing for any sane long-term investor to lose sleep over.
2) Reading various investor blog posts, I can only think of Churchill's famous words: "Never have so many written so much about which they know so little." Well, those weren't his exact words, but the essence is similar. I have read seemingly authoritative comments (i.e., wild speculation) on topics such as geology, metallurgy, mining practices, specialty metal markets, the long-term plans of aircraft manufacturers, the Department of Defense and the Mark Smith's innermost thoughts, by individuals who have neither the academic background, work experience, inside information sources, or telepathic powers to support their statements. We are privileged to live in a country that supports free speech, but it's important to realize that most information has a value in proportion to what you pay for it. The recent wild speculation on what would be contained in the recent investor update is a case in point.
3) I like this blog. It's a great place to commiserate with fellow investors, get alerted to various Niocorp goings-on, get pointed to other information sources, and even gossip, but I would never use it to make an investment decision. As a publicly-traded company, Niocorp is subject to strict rules as to how and when they release information. Consequently, anything material affecting the company is likely to come from a press release outside of trading hours or a regulatory posting. Anyone can act on rumors or the wishful thinking of others, but they shouldn't complain when their wishes don't come true.
4) I'm invested in Niocorp for the long-term because I consider it a once-in-a-lifetime opportunity. Think about it: a freak geological anomaly in the middle of the country consisting of a massive slug of critical minerals, two of which aren't currently produced in the U.S. As a bonus, it’s sitting in the middle of an even more massive deposit of rare-earth minerals. It's not a niobium mine with a 32-year production life, that's simply the life that matters for conventional investment analysis. Think of it as a niobium/scandium/titanium mine with the option of double or triple the estimated life, with an option on rare earths. Which would be least-best way to add domestic rare earth production capacity should the need arise, a green field project in Alaska or expanding an existing Niobium mine (or by leaching Niocorp's mine tailings?) It may be 10-20 years before the true value of this project is fully realized.
5) Although nothing in life is certain, this project is a very solid bet, with a far better than even chance of success. As I see it, the biggest risk is that it will be gobbled up by a big fish once financing is in place and the permits are in hand. Although I'm sure that will result in a very nice windfall, we're not likely to see the 18-20x return on the current price we might if we stay independent. I am not worried about the money needed to build it. My recent experience in solar energy indicates that $1 billion is loose change in the world of international finance. There is plenty of money floating around looking for a solid return. If the economics are as compelling as these are--at least by mining standards--the money will be available. This is not a low-grade copper or gold mine with marginal economics that swing daily with commodity prices.
6) I started buying into Niocorp at a little over a dime, bought all the way up to a dollar, and back down to forty cents. I added significantly to my holdings when Mark got involved, because I had followed (and profited) from his Molycorp experience. I added 20% to my holdings during the post-update dip this week at less than 50 cents. I fully expect that there will be more ups and down prior to full commissioning of the project and I don’t expect I will sell any before then, although I might buy a bit more on another dip. I own Niocorp because I think there’s a 50-60% probability that a share will be worth $4-5 in 2-3 years, and a 10-30% chance worth $8-$12 in 5 years. Those seem like pretty reasonable odds to me.
7) I do appreciate the entertainment value of this blog. My favorite posts are the ones that generally follow this theme: “I’m about to turn forty-three, can anyone tell me how much Niocorp stock I need to buy at today’s price so I can retire on or before my birthday next July 17th? Also, what’s the best day of the week and time of the day to sell the stock (Mountain Daylight Time) to get the maximum price? p.s. I could postpone my retirement to as late as October 23rd, but no later, as I want to drive a new Lamborghini to my 25th high school reunion. Thanks."
Have a good weekend everyone!
My guess is that Niocorp is either sitting on some financing or off-take agreements they can't talk about, or that the feasibility study is starting to look very, very positive. It would not surprise me at all if the overall downturn in mining is significantly reducing estimated construction costs.
Receiving stock options are a bit like being paid in lottery tickets. Out here in Silicon Valley, they are a very common way of compensating employees, directors and even vendors of start-up companies. It's not uncommon for the lawyers of start-ups to get at least some stock options, similar to the way people get "points" in the movie business. I'm sure that SRK, Roche, and anybody else working on the feasibility study have at least been offered some of their compensation in options. This strategy allows Niocorp to conserve precious cash, at a relatively small cost in future stock dilution, and incentivizes all involved to make the enterprise successful.
In the case of employees, stock options are generally not something they choose to participate in, they are part of the overall compensation package, and are often the sweetener to either bring people in or keep them around. In my neck of the woods, most of the 20-somethings who can afford to buy homes in San Francisco or San Jose metro areas (with average prices in the $1-3 million range) can do so only because of their in-the-money options at places like Facebook, Google, Twitter, GoPro, etc.
Needless to say, if you don't believe your employer or customer will be successful, stock options don't have much value to you. When they are being offered, and accepted, most probably in lieu of cash, is an indication that their is reasonable confidence that they will eventually be worth far more than their current, highly discounted, value.
You are absolutely right. Nobody is going to leave that much money in the ground, especially when it's a critical material currently 100% imported by the U.S. People really need to get a grip. Niocorp is a penny stock, albeit one with great potential. Penny stock trading volumes are very small. In Niocorp's case, it averages about 0.05-0.06% of outstanding shares on any given day, or about $50k worth of stock at 45 cents U.S. At those volumes, small trades can move the stock significantly. Who cares what happens over the course of days, weeks, or even a few months? You either believe in the project or you don't. If you are in the first camp, as I am, but are concerned about the short-term swings, here's my simple suggestion: stock looking at the stock price. Resolve only to watch for news, most of which I expect will be good in the coming months.
It would be wonderful if Niocorp had $1B in the bank, so as to avoid any delays attributable to financing, but there are few if any junior miners in that position. I think the team has been doing a great job with the resources at hand, and I have every confidence that they will continue to move the project forward, despite the inevitable delays. Remember, once permits are in place, and the FS complete, the project is essentially a pot of money waiting to be dug up. If Niocorp can't raise the money to do so, they will sell the project to someone who can. I figure at a minimum, that will yield a return on my shares of 400% and possibly as high as 1000%, well into seven figures in either case. For that kind of money, I'm willing to be patient.
If you are not prepared to hold this stock through ups and downs for the next 24-36 months, this is probably not the investment for you. This project is moving faster that 98% of junior mining ventures, but is still a lot like watching paint dry. If you get agita from the long periods between news and the short-term price swings, you should save yourself the aggravation. There are much safer investments, without the major upside potential however.
You missed my point. Those provisions define what's "strategic and critical," which means that virtually everything is included. Should something be "strategic and critical" simply because we can sell it overseas and make a buck? If that were the case, we might want to start with oil, for which exports are currently banned. Should a mineral be included simply because it's used in an American industry? Are materials readily importable from Canada and Australia as "strategic and critical" as one available only from China and the Congo?
If we're going to compromise other values in favor of making it easier for people to extract minerals from mostly public land, it should be justifiable based on the risks and impacts of potential supply disruption, not simply because somebody will make some money by doing it.
If I owned a producing asset, and there was a 800-pound gorilla competitor just over the horizon, I would probably want to get out while the getting's good, wouldn't you? I'm sure that the decision by Magris not to invest in expanding the Niobec operation was in large part attributable to Elk Creek. Economically, the latter gets you more bang for the buck. Anglo may be in the same situation. There's more value to the industry in having a second source of niobium outside of Brazil than a minor second source inside Brazil. Elk Creek will be good for CBMM, especially when Niobec peters out. CBMM customers will sleep better knowing that there is a reliable backup supplier.
I absolutely agree that the permitting and development process for critical minerals should be fast-tracked. The problem with the act as written is that it pretty much defines everything with a positive economic value as a critical mineral. Here's the text (my emphasis added):
The term strategic and critical minerals means minerals that are necessary—
(A)for national defense and national security requirements; (GOOD!)
(B)for the Nation’s energy infrastructure, including pipelines, refining capacity, electrical power generation and transmission, and renewable energy production;(GOOD!)
(C)to support domestic manufacturing, agriculture, housing, telecommunications, healthcare, and transportation infrastructure (HUH?); or
(D)for the Nation’s economic security and balance of trade.(OH, SO YOU MEAN PRETTY MUCH EVERYTHING...)
The language in (C) and (D) are so broad that it gives mining a special status relative to other societal values (environmental protection, recreation, etc.) as established by a great deal of history, debate, and legislation. It's not wise to throw all of that out, and put mining as a priority above all else, simply because 60 minutes ran a scary story about Chinese rare earth minerals. The mining industry has a pretty abysmal historical record in the U.S., essentially the equivalent of our ancestors "slash and burn" approach to agriculture. The General Mining Act of 1872, still in effect, has led to tens of thousands of hazardous and/or toxic mines in the west (seen the Animas River lately?). The modern mining industry is nothing like the industry of 150 years ago, or even 50 years ago, but that is precisely because of all the laws and regulations that are now in place. That doesn't mean the process can't be improved however, and that's what the act should focus on, specifically for minerals critical to national defense and critical domestic uses.
Unfortunately H.R.1937: National Strategic and Critical Minerals Production Act of 2015 essentially defines any mineral of economic value to be "strategic and critical" which pretty much makes it a gift to the mining industry rather than a benefit to our military and economic security. It has a good chance of being shot down in the Senate (the more "circumspect" legislative body). But, no matter, voting against it will provide some good fodder during campaign season, which is often the real intent of a great deal of impressively-named legislation (e.g., the "Protection of Windows and Orphans Act" that just hands a bunch of cash to a particular defense contractor...)
If you want this act to focus on those materials that are truly critical to nation defense, high-tech, and energy industries--including niobium and scandium--let your senators and congressperson know now you feel.
p.s. I'm only cynical because I use to work as a government policy wonk in Washington, D.C., back when dinosaurs roamed the earth.
There is certainly money out there for mining projects. For those of you that follow the space, one of the big news items this week was the $540 million in financing secured by Pretium Resources, a Canadian gold mining junior with a projected cash flow comparable to that of Elk Creek, about $500 million/year. That project (Brucejack) has a much shorter life (8 years) than Elk Creek. The bottom line is that if the numbers make sense, a billion dollars may not be very difficult to find. The financing news almost tripled the price target on the stock by analysts. I can easily envision the same thing happening to Niocorp in 4-6 months. Once financing is in the bag, it really just comes down to the mechanics of digging the hole, processing the ore, and counting the money. The week's events left me much more encouraged about our prospects over the next several months, not that the short term matters much to me.
I've been in since the Quantum days starting at about a dime, and don't plan to sell a single share until product is shipping, and maybe not even after that. A mine that may be around as long as this one could be a great dividend generator, or the seed of a mining giant. It's going to be an interesting ride.
I agree, no amount of talking is going to make the stock move up significantly. I don't believe the stock price will move much until we have additional off-take agreements and a big player or two committed to financing. I don't see the latter happening until well into 2016. I'm patient, committed (250k shares worth), and in for the long haul however, having started buying the stock when you could get a thousand shares for a C-note.
I've never put much stock in the "Tesla's up the road" methodology of valuation. It's likely that before spending billions to build a factory, Testla had at least some of the supply locked up. Lithium is a global market, and there are plenty of people that will be building batteries and electric or hybrid trains, cars, motorcycles, and bikes. I think the Abermarle acquisition is a far better barometer of the potential value of the resource. In fact, I would be surprised if Abermarle didn't try to gobble up PEM soon. Given their proximity, it would almost seem that they are "drinking from the same milkshake." Abermarle clearly thinks that lithium has a bright future. Given that they already have infrastructure next door, acquiring a major interest in PEM would seem to be a bargain, given what they're already spending.
The other key driver for lithium demand, in my opinion, is the transition towards distributed energy supplied by intermittent sources, mostly rooftop solar. Net Energy Metering (NEM), the regulatory scheme under which it has been implemented in the U.S. (nowhere else of course) is reaching its limits (more financial than physical) and the utilities want to kill it. That means that people who want solar will likely have to install storage as well, rather than having the utility accept their daytime over-production. Since it's not feasible to tell people what they can and can put on their roof, or in their own house, particularly when the alternative is a high-priced monopoly provider, there are going to be more and more people who effectively go "off-grid." They may have to pay a ridiculous minimum to stay on the grid (a requirement of most mortgage issuers) but they won't be buying much from the utility. Solar City is already offering this product and pretty much every other provider has something similar in the works. It won't all be lithium-ion, but the economies of scale favor it, given what will be happening in transportation. People have been talking about the inevitability of this happening for at least twenty years.
You are not alone, and I expect we will have more company soon. I have a small position (15k) that I hope to build as funds are available. Also own Western Lithium, formerly a lithium clay play but now also a brine resource owner in South America with the recent Lithium Americas merger. I'm in for the long haul, typically holding for 3-5 years minimum. I'm bullish on energy metals overall (energy being my field of expertise for 35+ years) and think we'll all be driving electric cars in 10-20 years. As a mechanical engineer by training, it's my opinion that it's simply a better way to spin a a set of wheels.
Pure Energy Minerals trades under the symbol HMGLF on the US over-the-counter market.
For those of you who haven't visited the site, here's the next best thing. Just enter the following coordinates into Google maps search field and look at the satellite view: 40.266674, -96.186635
If you zoom in you can see the two drill rigs that were on site when the picture was taken.
It would not surprise me to see the stock price drop another 20% over the next few months barring any major announcements. When I first bought this stock at around 11 cents back in the Quantum days, I figured it would be one to hold onto for at least 5 years. My opinion has not changed. I ultimately tripled my holdings after Mark joined the team, not because of the 200% gain I made on Molycorp during his tenure (I should thank the Chinese for that) but because he had the skills and perseverance to restore a radioactive Superfund site into a functional rare earth mine--in California no less. That is no small accomplishment.
Some people on this board seem to forget that Mark and the rest of the team's job is not to provide a monotonically-increasing stock price to short-term investors, it's to build a mine that will provide long-term value and income. As far as I can tell, he's doing an excellent job at that, checking off one box after another. I'm willing to forgive his not spending more time in front of a camera pitching to penny stock investors. There are plenty of things going on at the moment that are likely more important, and I have every confidence that there will be plenty of pitching to people with far deeper pockets than ours when the time is right.
p.s. If you are impatient, please sell. I would really like to buy more cheap.