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massive volume today, $0.1 tomorrow? ;)
for the longs: Toughest "easy" precious metal lesson you must learn
It's possible you could come out of it with more wealth than you ever imagined
If you want to get rich investing... if you want to make a fortune... you must learn this simple lesson...
In principle, this lesson is so easy, you could teach a monkey to do it.
But in practice, almost nobody is able to do it.
And this is actually easy to do... It's not like trying to lose weight, where we know what to do, but it's hard to stick to it. But still, nobody is able do it.
I have a hard time with it myself, darn it... and this is my career! I've gotten much better at it over the years though.
What is "it"? What is the lesson?
The lesson is doing nothing...
You see... the big gains are in the big trades.
Your lifetime investing success is hiding in your big trades. If you sell early – if you never give a trade a chance to become a big trade – you'll never get rich investing.
Legendary speculator Jesse Livermore explained it best in the 1923 book Reminiscences of a Stock Operator:
After spending many years in Wall Street, and after making and losing millions of dollars, I want to tell you this: It was never my thinking that made the big money for me. It always was my sitting. Men who can both be right and sit tight are uncommon.
In my newsletter True Wealth, we've stuck to our "script" of owning stocks and owning precious metals investments since the market bottomed in March 2009. Here in the second half of 2011, we're still sticking to our script.
In March 2009, just after the stock market bottomed, I told True Wealth readers, "I believe the entire stock market could rise by 50% from its lows last week over the next 18 months. And the next seven to 10 years could be phenomenal..." And I recommended a precious metals stock.
Last summer, I ran the headline "A Potential Bull Market in Everything" for one of my True Wealth issues. And in the latest True Wealth, out last week, the conclusion was the same... Own stocks and own precious metals investments.
The conclusion has stayed pretty much the same for nearly two and a half years. Both gold and stocks are up some 65%-plus in that time. Hopefully, we're offsetting any "boredom" subscribers might have from hearing the same conclusion with all the money they've made in that time.
"Men who can be both right and sit tight are uncommon," Jesse Livermore reminds us. In True Wealth, I've done my best to be right AND sit tight.
Our script is still the same... Own stocks and own precious metals investments.
We are in the midst of the Bernanke Asset Bubble, which – when it's all said and done – may turn out to be the greatest asset bubble (in stocks and gold) the world has ever known. That is worth staying on board for.
Don't get antsy. Don't feel the need to "stay busy." Don't trade away your winners too quickly.
Stick to the simple lesson. Be right, and sit tight!
Do nothing. For as long as you can. (And then longer.) It's possible you could come out of it with more wealth than you ever imagined.
But you've got to do nothing, for longer than you can bear it. You've got to do the tough part... and stick with the easy lesson.
next target $0.1 knowing this stock for 4 years now I'm like 99% certain we'll hit that level in the very near term
wouldn't surprise me at all if that even happened this week or next
look at gold fly in early Asian trading... making new highs, at $1618,6 now
$0.1 is a very reasonable target imo
it's a psychological level that will attract buyers
talk of European Gold Fields (EGU) being a take over candidate after getting the long-awaited permit
Eldorado gets mentioned as being a likely suitor
looking for a re-test of $0.1 now
it wants to break out over 0.05
srsr has been very strong since the end of may
Balmoral Announces Significant Gold Discovery On Detour Gold Trend In Quebec
•INTERSECTS 6.15 g/t GOLD OVER 4.04 METRES AND 4.18 g/t GOLD OVER 5.00 METRES IN FIRST HOLE AT GRASSET
•STRONG SIMILARITIES TO MAJOR DEPOSITS THROUGHOUT ABITIBI BELT
http://www.balmoralresources.com/s/NewsReleases.asp?ReportID=465742&_Type=News-Releases&_Title=Balmoral-Announces-Significant-Gold-Discovery-On-Detour-Gold-Trend-In-Quebe... title=
Balmoral is mainly former West Timmins management
They have a huge land package east of the Detour Lake mine
Oroco Signs Definitive Cerro Prieto Surface Rights Agreement
VANCOUVER, BRITISH COLUMBIA, Jun 27, 2011 (MARKETWIRE via COMTEX News Network) --
Oroco Resource Corp. (TSX VENTURE: OCO) ("Oroco" or "the Company") is pleased to announce that it has executed a definitive agreement securing the surface rights in relation to its Cerro Prieto Oxide Gold Project in Sonora State, Mexico. This agreement, between Minas de Oroco Resources, S.A. de C.V. ("MOR"), the Company's wholly-owned Mexican subsidiary, and the owner of the surface rights, provides for the lease of 1,000 hectares for an initial term of seven years, with MOR having a right of renewal for two consecutive five year terms. The Cerro Prieto Project is situated within a privately owned ranch, approximately 28 km southeast of the town of Magdalena de Kino, Sonora State, Mexico.
Upon execution of the surface rights agreement Oroco completed an initial payment to the landowner. Funds for the payment were provided by way of a bridge loan from the New York based institutional investor with whom the Company has recently entered into an indicative term sheet in regard to an $18-million (U.S.) gold prepayment agreement (see Oroco News Release dated June 17, 2011). Repayment of the bridge loan will be made from proceeds from the gold prepayment agreement at the time its closing, currently anticipated to occur in late August, 2011.
About Oroco:
Oroco is a Canadian-based mineral exploration company with its primary focus on the accelerated development of the gold-bearing oxide zones of its Cerro Prieto Oxide Gold Project in Sonora State, Mexico. The Cerro Prieto Project consists of the San Felix, San Francisco, Elba and Cerro Prieto concessions, totaling 2,729 ha, and the contiguous 4,224 ha Argonauta 6 concession. A Preliminary Economic Assessment relating to the Cerro Prieto Project, filed by the Company on January 29, 2011, cited a Capital Cost (including working capital) of US $22.2 million, an IRR of over 90%, and a Payback Period of less than one year at $1,000 per ounce gold.
This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Oroco Resource Corp. Mr. Craig Dalziel President and CEO 604-688-6200 604-688-6260 (FAX) www.orocoresourcecorp.com
SOURCE: Oroco Resource Corp.
http://www.orocoresourcecorp.com
Copyright 2011 Marketwire, Inc., All rights reserved.
financing and permits now all ok, construction ready to start!
bought in at Balmoral Resources (BAR) today. anyone else like it?
has its properties next to Detour Gold
orvana is one of the most undervalued stocks right now imo
they will be producing lots of gold silver and copper
2 new mines started, both ramping up
Balmoral Resources (BAR): any ideas? looks like a good buy to me at these prices?
Oroco Signs Indicative Term Sheet for Cerro Prieto Construction Financing
6/17/2011 8:31:03 AM - Market Wire
VANCOUVER, BRITISH COLUMBIA, Jun 17, 2011 (MARKETWIRE via COMTEX News Network) --
Oroco Resource Corp. (TSX VENTURE: OCO) ("Oroco" or "the Company") is pleased to announce that it has entered into an Indicative Term Sheet with a New York-based, private institutional investor in regard to a US$18 million gold prepayment agreement. Under the terms of the Indicative Term Sheet:
1. Net proceeds from the prepayment agreement, after deduction of a 3% fee, are to be used to develop the Cerro Prieto Oxide Gold Project in Sonora State, Mexico;2. The US$18 million prepayment is to be satisfied by the delivery by Oroco of 21,000 ounces of gold to the lender over a period of 36 months following closing. Additionally, Oroco is to grant to the lender a series of warrants entitling the lender to purchase up to 8,400 ounces of gold from Oroco at a price of US$1,550 per troy ounce over the 24 month period beginning two years after closing; and3. Funding under the agreement will be subject to completion of legal documentation, receipt of regulatory approvals, including that of the TSX Venture Exchange, and conditions precedent typical of a transaction of this nature. The net prepayment proceeds will be fully drawn down to an escrow account at closing, anticipated to occur in August, 2011.
Craig Dalziel, Oroco's President, commented that "We are confident that utilizing our future gold production to fund the majority of our capital requirements at Cerro Prieto will be significantly less dilutive to Oroco and its shareholders than funding the mine construction and initial operations through share equity. We anticipate that the strong economic model at Cerro Prieto will assist Oroco in securing, on similarly favourable terms, the $4,000,000 in additional working capital required to fund the project through to production."
About Oroco
Oroco is a Canadian-based mineral exploration company with its primary focus on the accelerated development of the gold-bearing oxide zones of its Cerro Prieto Oxide Gold Project in Sonora State, Mexico. The Cerro Prieto Project consists of the San Felix, San Francisco, Elba and Cerro Prieto concessions, totaling 2,729 ha, and the contiguous 4,224 ha Argonauta 6 concession. A Preliminary Economic Assessment relating to the Cerro Prieto Project, filed by the Company on January 29, 2011, cited a Capital Cost (including working capital) of US $22.2 million, an IRR of over 90%, and a Payback Period of less than one year at $1,000 per ounce gold.
This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Oroco Resource Corp. Mr. Craig Dalziel President and CEO 604-688-6200 www.orocoresourcecorp.com
SOURCE: Oroco Resource Corp.
http://www.orocoresourcecorp.com
nice financing deal! these guys really try to preserve shareholder value by this non dilutive deal
should be easy to take out that ask then!
thanks, always appreciated your charts
haha that's an oldie
good old days again :)
this stock can be a real runner ;)
nice, lets get back to $0.1
gee what a volume today
that requires logging in. but here are some good guides too:
http://www.sharemining.com/category/learn-about-mining/
videos about mining techniques and what it all means
Oroco Secures Surface Rights for Cerro Prieto Project
VANCOUVER, BRITISH COLUMBIA, May 18, 2011 (MARKETWIRE via COMTEX News Network) --
Oroco Resource Corp. (TSX VENTURE: OCO) ("Oroco" or "the Company") is pleased to announce that it has entered into an interim agreement with regard to the lease of the surface rights in relation to its Cerro Prieto Oxide Gold Project in Sonora State, Mexico. This agreement, between Minas de Oroco Resources, S.A. de C.V. ("MOR"), the Company's wholly-owned subsidiary, and the owner of the surface rights, provides for the lease of 1,000 hectares for an initial term of seven years, with MOR having a right of renewal for two consecutive five year terms. The Cerro Prieto Project is situated within a privately owned ranch, approximately 28 km southeast of the town of Magdalena de Kino, Sonora State, Mexico.
The Company is also pleased to announce the appointment of Roger Scammell, BSc (Geology) and PGeo (Ontario), as a Vice-President of the Company and President of MOR. Mr. Scammell's primary responsibility will be to oversee the construction of the Cerro Prieto mine and the related processing facilities.
Mr. Scammell has 40 years experience in the mining and exploration industry in North America, most recently (2004 to 2010) with Scorpio Mining Corporation, first as Vice-President and then President, where he was responsible for overseeing the exploration and development of, and initial production from, the 1,400 tonne per day Nuestra Senora polymetallic silver mine in Sonora, Mexico. Mr. Scammell has extensive experience in Mexico, first as the Country Manager (Mexico) for Teck Corporation and its Mexican subsidiary, Minera Teck S.A. de C.V. from 1992 to 2002, and then with Scorpio.
Craig J. Dalziel, President, stated; "We are extremely pleased to have completed these critical steps in realizing near term gold production at Cerro Prieto. Reaching agreement on a lease of the surface rights and retaining someone of Mr. Scammell's ability and experience to oversee the development of the project bring Oroco that much closer to fulfilling its production expectations for the Cerro Prieto Project. A Preliminary Economic Assessment filed by the Company on January 29, 2011 cited an IRR of over 90% at $1,000 per ounce gold, and subsequent pre-construction activities undertaken by Sonoran Resources, LLC, our project management group, continue to support those PEA numbers."
About Oroco
Oroco is a Canadian-based mineral exploration company with its primary focus on the accelerated development of the gold-bearing oxide zones of its Cerro Prieto Project in northern Sonora State, Mexico. In late 2010, Oroco received a positive Preliminary Economic Assessment for the Cerro Prieto project. The Cerro Prieto Project consists of the San Felix, San Francisco, Elba and Cerro Prieto concessions, totaling 2,729 ha, and the contiguous 4,224 ha Argonauta 6 concession.
This news release contains forward-looking statements, which address future events and conditions, which are subject to various risks and uncertainties. The Company's actual results, programs and financial position could differ materially from those anticipated in such forward-looking statements as a result of numerous factors, some of which may be beyond the Company's control. These factors include: the availability of funds; the timing and content of work programs; results of exploration activities and development of mineral properties, the interpretation of drilling results and other geological data, the uncertainties of resource and reserve estimations, receipt and security of mineral property titles; project cost overruns or unanticipated costs and expenses, fluctuations in metal prices; currency fluctuations; and general market and industry conditions.
Forward-looking statements are based on the expectations and opinions of the Company's management on the date the statements are made. The assumptions used in the preparation of such statements, although considered reasonable at the time of preparation, may prove to be imprecise and, as such, undue reliance should not be placed on forward-looking statements.
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.
Contacts: Oroco Resource Corp. Mr. Craig Dalziel President and CEO 604-688-6200 www.orocoresourcecorp.com
SOURCE: Oroco Resource Corp.
http://www.orocoresourcecorp.com
Copyright 2011 Marketwire, Inc., All rights reserved.
CL, what's your take on the CRK news release today?
And any views on ORV?
gold doesnt want to stay below $1500
I didnt think it would fall back to these levels again, its incredible how undervalued this stock is with 3 great projects!
ORV will be fine in the long run, the Spain operation is starting this month
Today the World Gold Council announced the official gold reserves of the central banks across the world following the IMF May release of its International Financial Statistics. The main conclusion is that central banks were still net buyers of the yellow metal.
http://www.sharemining.com/news/world-gold-council-updated-the-world-official-gold-holdings-may-2011/
DPM (Dundee Precious Metals) conference call AGM starting now:
http://www.gowebcasting.com/events/dundee-precious-metals-inc/2011/05/11/first-quarter-results-and-annual-general-meeting/play/stream/2455
if they can hold their promise to ramp up significantly there is a nice future... however right now their mills are rather tiny!
it's in consolidation mode... when good news hits I suspect it will fly once again
silver just reminded us how volatile it is...
gold is more 'steady'
oil i don't like :)
the older man was the late Alan Hawke
yes there is some risk with Bolivia but for Orvana it's very low imo:
-they have operated that mine for years now
-it's a rather small mine in a remote location, community relations are excellent
-it was never a government owned mine (so they won't 'ask' it back)
-Bolivian minister was at the PDAC, they want to support mining
the bolivia mine will be throwing off a nice cashflow anyway, it's got gold, silver and copper
Venezuele and even BC are probably a hard place to mine right now :p
this quarter is going to be massive for most producers!
junior producers who are ramping up or initiating production now are the best picks imo
Orvana fits best in this category: started production on a new zone in Bolivia last month, new mine in Spain coming online in May
Anyone know something about Andean American Gold? AAG
found this one yesterday and it looks like a buy to me?
if you like Nevsun, also check Sunridge Gold
also in Eritrea with similar deposits, but even more high grade copper, not as advanced as Nevsun yet
haven't dont much research on it yet but it looks promising and undervalued
here is an example about another company doing an IP survey:
http://www.houstonlakemining.com/news-mainmenu-54/2007-news-releases-mainmenu-83/108-ip-survey-doubles-strike-length-of-angel-hill-gold-zone-to-28km
some more to look at: Orvana Minerals (ORV), Dundee Precious Metals (DPM) and Oroco Resource Corp (OCO)
my top picks for 2011 :)