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well crazy, you started this little run on SH with your talk of refi being done and it being leaked. My account thanks you tonight.
we'll see if there is any follow through tomorrow. that should tell us if poeple are just reacting to you or if there is something more to it.
JFF7
ummmm OK.
Jal the volume is way too thin to call it strong support at 40 cents.
as for a release date of Monday Aug 30th or Friday Aug 27th, the 30th is the dealine for thier filings. Friday would be preferable for issuing bad news.
which date do you think they are shooting for? which one do you think they will achieve?
I'm betting bad news on Monday, the 30th. No refi done by then.
JFF7
Stan : "We had some growing pains in the first two quarters, but the mine is performing well now. " from aug 11 gold report
well that was a croc! oops crock ! Cash costs over 1000 dollars is not performing well.
JFF7
Well both SGR.TO and CRK.to reported today. Both came in with cash costs over $1,000 per ouNce. Both these companies had previuosly reported months of production with much lower cash costs.
Maybe this is what is happening with PTQ and it is what they don't want us to know.
JFF7
CRK.TO 2nd qtr results out.
Cash costs high, delays in development work, reduced production forecast from 1000,000 ounces for 2010 to 85,000 ounces.
Just another typical miner at least for this qtr.
http://www.marketwatch.com/story/crocodile-gold-reports-second-quarter-2010-results-mill-availability-and-recoveries-at-target-levels-commences-development-of-princess-louise-open-pit-mine-2010-08-16-195570?reflink=MW_news_stmp
"That being said the volume is low enough that small spectlators are just pushing around the SP? "
yes in a vaccum of news, this is no doubt what is happening right now.
JFF7
Some people are so lucky.
I've only been out four times this year.
Maybe this Friday.
JFF7
well in my experience they either can't tell you or they don't want to tell you. Take your pick.
I am still here because I think the refinancing negotiations is stopping them from saying anyting. It's hard enough to negotitate these things with Panamanian banks that have never done a mining finance before but throw in these nervous markets and the bouncing POG, I doubt they want anymore additional catalysts in the works.
JFF7
it would have been better to have been playing the majors in the last few weeks while th eprice of gold has recovered. Majors always get the money first. Then the midcaps and juniors as the market becomes less risk averse ir as the majors start to look expensive (not there by a long shot).
Still healthy gold prices will help all gold stocks.
JFF7
Now that's just plain crazy.
JFF7
That's in bad taste Stockpeeker.
JFF7
BOBWINS - FRC.to (potential double)
Thanks for this one Bob. It sounds like another one of yoru value plays like when you found ZCO.V before.
I'm in for a few thousand shares.
Thanks. I thnk you have done it again!
JFF7
nope everyone is just falling asleep... nothing to get excited about...don't know how many have moved on ....
JFF7
I watch the US dollar index. When it drops, the commodities soar. When it stalls, the commodities will stall. If US dolar rallies, I step out of commodities as mcuh as I can but continue to hold gold miners that are producers and profitable (with some exceptions).
Many junior commodities players are soaring as most commodities are gaining based on the drop of the US dollar. It's th eplace to be right now wheter it oil juniors, gold juniors, uranium, potash juniors, etc.
Find ones that are under bid right now and then hold on till they jump or US dollar index rises. Most ar emoving 25-30% before they slow down for a pause or to plateau.
Make hay while the sun is shining because it can cloud over pretty fast.
JFF7
MTO.V
yes the price drop is sellers getting out because they are tired of waiting or some suspect that the delayed 43-101 is not anywhere near as good as some had suspected.
Still as a high cost 30,000 oz. producer the market cap is reasonable.
JFF7
How do you make the price drop 4% with only buys?
I think your the data feed your relying on is screwed up.
JFF7
yup that's a trend that is increasing. Noticed more gold companies either declaring special dividends, increased dividends or starting dividends recently. I think you got them all there.
Supposedly gold companies are feeling the pressure to pay dividends as a way to compete for the investment dollars going in to the gold ETFs. Of course it doesn't hurt that the gold companies are pulling in a lot of dollars with gold prices at these levels.
JFF7
what makes you think China is not following Bob's lead?
JFF7
CSI.to is pretty high.
JFF7
CMM.TO Peggy Kent resigns
surprised there was not a better spike up...the end of an era.
http://www.stockhouse.com/tools/?page=%2FfinancialTools%2Fsn_newsreleases.asp%3Fsymbol%3DV.CMM%26newsid%3D7820410
OGC.TO
Thanks for the comparisons Nosleep. That puts things more in perspective. Maybe my expectations for OGC were just off. Also they have risen very high in the past year so the farther the climb the more profits to be taken.
Holding tight and waiting for tomorrows results. Not expecting much gain until institutions have finished taking their profits....even with good results tomorrow.
Pressure on gold prices should end later this week when Treasury auctions are over. That may help some.
JFF7
OGC.to
another 6% down....something seriously wrong here . It is not just the drop in the price of gold.
Not a lot of volume but wow.....
Not a happy camper here.
JFF7
OGC.TO
Yes it's almost like they are in the process of acquiring more financing and someone is pushing for the best deal possible. Maybe they are rasing money to go it alone with Dip mine in the Phillipines.
JFF7
JAL that's what IR guys do. That's their job. to keep telling the shareholders what they want to hear. "...soon...significant...great potential...any day now....".
Talking to an IR type is just an exercise in frustruation. If you want any factual information ask management and they will tell you if they can but they can't answer all your questions. The trick is to ask questions they will and can answer from which you can infer the information you are looking for.
Good luck.
JFF7
We know that Tom has nothing to do with it...he's just the mouthpiece. He can only issue PRs when they let him.
JFF7
OGC under seling pressure in ASX overnight. Looks like a number of sellers ready to go on the open on the TSX as well. May be in reaction to some funds registering some sales.
Short term buying oppportunity for buyers interested. The share price in ASX did not get impacted much.
OGC 3.220 -0.060 (from ASX)
JFF7
OGC.TO
" From an earnings standpoint, the $56M will not affect 2Q. "
that's what I wanted to hear. Thanks.
JFF7
OGC.TO
OGC reports next Thursday with their first qtr of unhedged results. However I understand that there still may be some residual effects of the hedges on the books for this qtr and next.
Does anyone understand what impact the hedges will still have from an accounting perspective?
JFF7
MTO.V
Back in at avg cost of 55 cents Cdn.
Hope the 43-101 results are good ones.
JFF7
CGA.TO
That provincial ban does not impact CGA as they are not in this province at all. Their mine is on a separate island.
Don't know about Medusa (MLL.TO).
JFF7
I read sponsored newsletter writers letters with a big grain of salt. Do you get the real story or the glossy brochure version?
JMO
JFF7
BRD - also remember that Apollo promised 150,000 ounces a year in their presentation. So 180,000 oz in 2013 means little from this management. Wait until they starrt delivering on some of their promises before you start to believe them.
Hint: watch the grades predicted vs what actually comes out of the ground
JFF7
SGR.V up to their old games...another 130 million in new shares
more dilution. Wow these guys are kings of the diluters. Poured their first gold 4 years ago and have yet to learn how to make a profit when they have some of the richest grades and lowest costs (electricity to the existing mill for example).
need more money, just dilute. Who ever heard of making a profit to financine further exploration
They sure do luv to poke holes in the ground.
http://www.stockhouse.com/tools/?page=%2FFinancialTools%2Fsn_newsreleases.asp%3Fsymbol%3DV.SGR%26newsid%3D7803188
San Gold Corporation Announces $130 Million "Bought Deal" Financing
7/13/2010 3:15:25 PM - NFD
BISSETT, MANITOBA, Jul 13, 2010 (Marketwire via COMTEX News Network) --
NOT FOR DISTRIBUTION TO UNITED STATES NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES
San Gold Corporation ("San Gold" or the "Corporation") (TSX VENTURE:SGR) is pleased to announce that it has entered into an agreement with a syndicate of underwriters co-led by Dundee Securities Corporation and BMO Capital Markets and including CIBC World Markets Inc., Raymond James Ltd., TD Securities Inc., Cormark Securities Inc., Wellington West Capital Markets Inc., Mackie Research Capital Corporation, Stonecap Securities Inc. and Toll Cross Securities Inc. (the "Underwriters").
Under the agreement, the Underwriters have agreed to purchase on an underwritten basis 32,500,000 common shares (the "Common Shares") of San Gold at a price of $4.00 per Common Share for total gross proceeds to the Corporation of $130,000,000 with the Underwriters having an over-allotment option to purchase up to an additional $19,500,000 of Common Shares. If the over-allotment option is exercised in full, gross proceeds will result in $149,500,000. The proceeds of the offering shall be used primarily for further exploration and development on the Corporation's Rice Lake Project in Manitoba, for the purchase of equipment and for general and administrative expenses and working capital.
The Common Shares to be sold under the agreement will be offered by way of a short form prospectus in all the Provinces of Canada except Quebec and the Common Shares to be sold under this offering will be offered in the United States on a private placement basis pursuant to an exemption from the registration requirements of the United States Securities Act of 1933, as amended.
The offering is scheduled to close on August 4, 2010 and is subject to certain conditions including, but not limited to, the receipt of all necessary approvals, including the approval of the TSX Venture Exchange and other applicable securities regulatory authorities.
This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any state in which such offer, solicitation or sale would be unlawful. The securities have not been registered under the United States Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.
MLL - 3.30?
what the heck is going on with MLL...down to 3.30 now. wow. I thought anything under 4 bucks was a great buy. I guess this is a better buy now. Gold price decline is hitting most every gold stock I guess.
JFF7
MMT.V
OK your out on the limb already, what sort of timeframe do you give that?
JFF7
yes HGU is doing very well. Probably because I don't own any.
The gold majors are leading the way. Money flows to the least risk first. Gold majors are going to be producing some real good cash flow this qtr end with the gold price this high.
Once the majors have run up a bit, the money will flow to mid-tier (hopefully then OGC and CGA get some action). After that it will be the juniors turn.
That's usually how the money flows from less risky to more risky as valuations change as money pushes up the stock prices of majors.
JFF7
This PR makes me want to puke.
I simply do not care about spinning out PDI. If they give me shares I will sell them immediately and fully expect them toquickly fall in value. PDI ia simply a vehicle to keep Fifer's options open. Am I here to invst in a gold mining company or a small Panamanian infrastructure company that is struggling to raise startup capital.
This PR was a response to a plea from Tom B. ... "Please give me anything I can throw to the mob of angry sharehollders that want news...any news." . Your right it tells you nothing new. It's designed to calm you down for a while and distract you from the vacuum of news on important issues. They're buying time.
It seems to be working.
JFF7
I did not understand that at all. were you investing in a gold mining company or an construction business? Well to each his own I guess.
Comments on the PR.
-"heavy equipment used during construction of the Molejon gold plant but no longer required for the gold production operation.."
- so they won't need that equipment for ODN?
- sounds like Richard Fifer is planning his next move to building up his self portrait as Panama's greatest benefactor.
JFF7
CRK.to
I think the shorts are still in control of CRK. Best to wait or just wade in a bit at a time.
JFF7