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Geo, Thanks and good luck to us all.
I'm just preparing for a surprise announcement, I've seen the totally unexpected happen before.
So if deal is somehow rejected, it is your contention that we shouldn't move down too much in pps short term. If deal is accepted we may see a bump.
Geo, where do you think we would be without SSRI?
It's odd it was so many shares and at such a late date. If they "want in" why not wait and buy SSRI shares, unless they expect a pop in pps upon closing.
What do you guys make of this? This is enough shares to be the deciding vote one way or the other...
K2 Principal Fund acquire common shares of Claude Resources
TORONTO , May 16 2016 /CNW/ - The K2 Principal Fund L.P. ("K2") announced that it has acquired 20,911,000 common shares of Claude Resources Inc (CRJ). As a result of the acquisition of such shares the Partnership owns approximately 10.58% of the issued and outstanding common shares of CRJ.
K2 acquired the securities for investment purposes only and may, depending on market and other conditions, increase or decrease its beneficial ownership, control or direction over, or exercise its current rights to acquire, common shares or other securities of CRJ through market transactions, private agreements or otherwise
What to expect in days following, if deal is approved tomorrow. Anyone?
Here we go, 10:20 on the money, the dollar is not up, WTF, how can any headway be made with these ass holes in control? Outright admitted fraud and yet it continues unabated.
So +$11 for SSRI shortly after closing huh, I agree, very reasonable. I sure am glad I hung onto bulk of my shares, nothing I do compares to the continual pps appreciation that CLGRF has had.
I don't think the market reacted to mesterspeak and sold off PM's, I think they trotted this beast out to say more of the same, just to give them cover for another one of their smack downs. What a total farce! CLGRF and SSRI holding up nicely though.
I don't think management has a history of doing that, how can you talk like this after years of touting what a great management team they are? We are now 10.5M in the black, how is this not a good thing? ElCompass could have been fraught with all kinds of set backs and difficulties with a far worse outcome than this, smart management took the guaranteed profit.
What a F**G joke these markets have become!
yep, it used to be I could go to my TD account to get the "real" prices, that seems to have changed for the worse in the last week. Fraud everywhere you look nowadays, its just like a virus!
I've got to believe that is the case Geo.
Yes I do but, the price action I'm talking about shows up on yahoo as well, MEAOF is showing 8:24am trades taking it down to .0594 this morning and it will remain there until someone buys or sells after the bell. The bid ask is normal at the open, its just the current price that is beat down.
Has anyone noticed how someone is knocking the TGCDF price down to levels far below the TGZ exchange difference the last couple days right before the market opens? Yesterday's open was .61 and today,s .63, never seen this before, they did yesterday it with MEAOF as well.
I think return on investment with NP is an issue. IMO there are better more lucrative deals closer to production floating around right now although maybe NP is their plan, I don't know.
Yeah, they could blow it all but, I don't think so, if this is such good management, as many claim, there is nothing nefarious going on hear. Everyone has been saying what a great management team they are, so let them manage...trust them to do what is best. Its all relative, now they have a debt free 10.5M account to purchase a better project in a buyer's market.
It's 8.5M more than they had before, the property they sold only cost them 2M a few months ago. I think they have several prospects (CC said 7-10) on the horizon that they can now capitalize on with that kind of cash on hand. I think in this market they can close on a better property with more potential using cash, not debt. You've got to keep in mind the borrowing costs of 10M that they needed for ElCompas with NO guarantees. I trust Brad. In the near term, the market will recognize this and the PPS will recover. Get your cheap shares!
They are thinking beyond Polaris, I guarantee it.
Cork, speaking as a 57 year old myself, I hear ya, I have run across many, many people that lost they're asses on miners in the last 5 years due to bad timing. There are some that just can't let it go and want to see others around them suffer the same fate in an effort to make themselves feel better about their losses. This is what I like to refer to as "schadenfreude" a German word with no English translation that means "deriving pleasure from another's misfortune". This is the attitude that I continually run across on these boards, that attitude, more than what is presented is what annoys me the most!
Averaged down and increased shares to 400k, I think they have seveal new projects (7-10) in mind and will now have the funds to get it going without going into debt and the market will recognise this, the share price will be recovering in the next few days so, get your cheap shares while they last. This is what exploration companies do, they made a 500% profit in 3 months, if everything went perfect wihh ElCompas, we would not have seen profits like this for 2 or 3 years, you have to trust management, you cannot and do not hope to have have their insights.
Quote from Yahoo Finance board regarding CC, pretty upbeat:
"I listened in and asked a couple of questions. I'm satisfied that this move saves us the trouble of waiting several years to generate positive cash flow and sock away some profits. I don't think we'd have been $8M to the good after two years.
Catalin and Garry Biles have been eye-balling 7-10 properties all over the Americas, and some of them are on no one's radar. They'll find another, larger steal and parlay this profit into a larger one. As Catalin said, his idea was to take the money now, and turn $8-10M into $30-40M in a fairly short time, relatively speaking. If this happens every year, who needs to actually mine anything?
The market isn't receiving the news well, but all I can say is, I wish I had some dry powder. These guys are way out ahead of the rest of us, in terms of aggressive, growth-oriented thinking."
So what does CRCUF have to offer to increase PPS going forward besides EXK shares, a pipe dream Polaris mine project and a seemingly inability to bring a project into production?
Maybe a producing Polaris mine is a more lucrative project than El Compas, Mexico has recently increased taxes on miners.
Sounds like EXK share holders will do better in the short term.
Isn't this bordering on "conflict of interest"?
Perfectly normal trading action...NOT!
Ahh, the precious little snow flakes, looking for their safe space, when all hell is breaking loose around them...
A tube or two of Gold Eagles is quite trouble free as well!
No time to watch right now, I presume what you mean is SSRI owns a percentage of Pretium?
I wouldn't recommend 1000 oz bars, not as easily traded, too easy to drill and fill with other metal. Depending on what you are going to do with them, if you want silver for insurance and bartering purposes, the smaller bars, rounds, numismatic coins and 90% will be easier to sell and barter with. Try Apmex.com
On an undervalued penny stock there is nothing like watching a double or triple make you thousands/per every penny increase! In this new bull market more than money will be made...fortunes will be made.
Yep, its easy to get impatient and sell out or ruin your position that took months/years to build. I don't know what is worse, sellers remorse on a deal like that, hanging on and watching others on your watch list blow by you or losing some of your capitol. Its a fine line not to make mistakes.
Geo, Nice performance with Teranga since Earnings release, very impressed.
Barnseller, I am also fairly spread out but, all in the PM mining sector though, I am using profits from my CLGRF gains for this position so, these shares along with MEAOF shares are pretty much free, my two long shots. Oh, and thanks for the luck, I might need it.
Yes, I was going to get another 140k but, would have to sell 25% of my MEAOF (already a producer, could be ready to pop), don't want to make a mistake.
You guys are bush-league /sarc, I jumped in weeks ago 260K @.09 in one day, could have got more for the same money if I had waited but, I figured we wouldn't drop this low again. Still feel okay about everything though.
Didn't take them long to smack it back down $10. I would say this is the reason for the spike:
http://www.zerohedge.com/news/2016-05-06/june-rate-hike-odds-collapse-record-lows-market-prices-no-hikes-through-feb-2017
It's not 10am yet.