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DSM.to breaks 4 loonies and no one cares? hmmmmmm off to bigger and better things i guess
hi ho hi ho
its off to work we go
jon
AGI pops to 9 bucks canadian and no one cares. funny how that goes
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its off to work we go
jon
this ones been on fire: nobody cares?
jon
"That is looking pretty good now, but my average cost is still in the red. I suppose pennies will not matter much in a couple of years when gold is around $600, and this stock is trading in the $5 to $10 range." well said OriginalFred. i have been buying at .45, .55 and now more at .65. added 70% to my original position but still in the red - breakeven now at 1.06$C. and pennies will not matter when we sell for 4 bucks - my first target? as AGI was selling for the low 4's high 3's when gold was just over 400$US. i figure we will have a 4 banger just to get this puppy up where it should be for its potential - the hiring of people for the operations end should be good news as is seeing the bottom here now. risk is reduced now let the profits run.
buyout? dunno, wouldnt oppose it if it is for the right price, tho the price would have to be attractive to the buyer as well. i suppose i would take "quat pieces chaque" as they say here in quebec, if its in shares of a good miner and soon.
hi ho hi ho
its off to work we go
jon
lets run the numbers: 49 million share fully diluted. 9million warrents expire in dec 2005 at 2.50 - probably expire worthless. another 700000- october 2005 at 2.00 - probably expire worthless. almost 6 million april 2006 at 2.50 - probably expire worthless but wouldnt it be great if they were not worthless by april? enuf dreamin - lets get real! that means that almost 16 million warrents will not ever be exercised. that means about 33 million shares. lets say worst case scenario - equity financing for 20 million dollars US or 24 million $C. financing at .40 / share will give us 58 million shares in the PP. plus 1/2 warrent gives fully diluted of 88 million. plus the 33 million outstanding now gives 121 million shares.
a close comparison is AGI AGI has 95 million shares fully diluted selling for 4.70 (wed sept 14 close) or a market cap of 446 million dollars Canadian. 446/121 yields a target of 3.68$C/share - quite a bit above the share price now no? from todays share price of .43 - thats an 8 banger from here.
or how about DSM - 111 million shares fully diluted selling for 2.06 (sept 14 close) makes a market cap of 229 million dollars. 229/121 yields a target of 1.88$C or more than a 4 banger from here.
now i know the market gives a premium to good management and RNC doesnt qualify in that regard, but doesnt the hiring of peter marrone qualify as a step in that direction? of course it does but the others are not gone yet either. a good spec from here and could get better if there is a 50/50 split with debt equity financing no?
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its off to work we go
jon
well the market apparently liked the news release. BIG gap from .35 to .425$C (how does 425$C sound? sounds good to me!) looks like many folks were only too eager to use this as a selling opportunity. i suspect that many more will be ready to dump tomorrow and next week as well. i expect that the gap will be filled sooner rather than later. then there is tax loss selling, and im sure that there will be a bunch of folks tax lossing too. however im more convinced than ever that at .40 this puppy is highly leveraged to gold and will fly with 500 POG. the situation here reminds me of the situation with SPM, which seemingly has found its (double) bottom and now is steadily rising as production nears. in the midst of despair is found the greatest opportunity, but without hope we cant see thru despair.
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its off to work we go
jon
i never average down. but i buy the best deal that is available for my new investment funds. it looks like RNG might just fit the bill. but where is the bottom? might be a double bottom, right here and another in tax loss season. could be a big season coming up here with the miserable preformance of this dog! what do yall think about the news release today?
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its off to work we go
jon
i hear that the locals in mexico oppose the development of minefinders deposit. does anybody know about this? secondly can anybody tell me how to post stockcharts here?
thanks in advance
new name for RNC? how about this for an idea - perpetually manipulated gold shares inc. - PMS.v
seriously tho, i got in at 1.40 should have taken my profit at 1.60 and run, but instead i averaged down at 1.20 hmmmmmmm, wouldnt that look good now? now i know why you guys were sceptical when i first posted about RNC with glowing hopes. however perhaps an amex listing will help things turn around, lets see april is only 9 months away - perhaps they can time it to hit during the PDAC? naw, on a second thot about then we can expect a notice that the filing has been delayed until 2007, and that they expect to reach their production target of 12,000 ounces a decade by 2009 at the latest if everything goes according to plan. naw, im too optimistic again. if everything in my portfolio was to perform this well id have to get a day job.
jon
if you think of a way to cheat, someone has already done it. so bravo, amarksp, you probably hit the nail right on the head. what can we do about it? probably nothing, just like the SEC in the states is looking the other way against illegal bear raids on penny stocks on the otcbb - and probably profiting by it as well, i suspect that this is probably the standard modus operendi on bay street. something like this has probably been happening to SPM as well. those naivons that think that this stuff doesnt occur didnt learn their lessons on the playground in grade school.
SOOOOOOOOOOOOOOOOOOOOOOOOOOOOOO, if we can frontrun them, by keeping the pp's in mind at all times, and watching the seasonality as well, so that we can anticipate such shenanigans, we can pick up enough shares to fill our accounts at such rock bottom prices.
several are on the cortez trend. others are scattered all over nevada and now one in utah.
jon
anyone like NPG.v? they have deals with placer dome on three properties and are drilling others for themselves. they have the magistral mine in mexico that is producing and the company is now cash flow positive. it will pay for their drilling this year.
hi ho hi ho
its off to work we go
jon
news release out:
DESERT SUN MINING CORP. (TSX: DSM; AMEX: DEZ) has completed its previously announced bought deal financing pursuant to which, as a result of the underwriters exercising their over-allotment option in full, it raised $25 million through the issuance of 10,729,614 units at a price of $2.33 per unit. Each unit consists of one common share and one-quarter of one common share purchase warrant of Desert Sun. Each whole warrant will be exercisable at a price of $2.50 until November 20, 2008. The warrants will trade on the Toronto Stock Exchange under the symbol "DSM.WT". The underwriting syndicate for the offering was led by Sprott Securities Inc. and included CIBC World Markets Inc., Salman Partners Inc., Canaccord Capital Corporation, First Associates Investments Inc., Haywood Securities Inc. and Pacific International Securities Inc. Proceeds from the offering will be used by the Corporation as to US$10 million to expand its exploration program in Morro de Vento, Jacobina mine, Pindabacu and Canavieras, as to US$5 million to finance pre-feasibility and other development work at Morro de Vento and Canavieras and the balance for working capital purposes.
Desert Sun Mining is a Canadian gold exploration and development company listed on the Toronto Stock Exchange and the American Stock Exchange with 100% ownership of the Jacobina Mine and the 155 km long Bahia Gold Belt in the state of Bahia, in northeastern Brazil. For additional information, please see Desert Sun's website at www.desertsunmining.com.
anyone have a take (or actually call the management!) on the PP done by FR.v? i wonder if they have their sights on another aquisition - or whether this is for furthur development of their existing mines - they expect 12 million ounces silver production in 2007, 1 million in 2005 and 4 million in 2006. i like the aggressive approach.
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its off to work we go
jon
looks like the market liked the news. a well-run company from the standpoint of investors will release a stream of news. looks like PLL understands this. i dont want to see my profits evaporate under poor management! sucessful financing and a closing of the deal will impact the share price positively imho
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its off to work we go
jon
well, im keeping my powder dry. but i cant see why they are lowering the price on this pp. smells real bad to me - 1.20 was a big enough insult. when management gives the finger to the retail public thats a sign to take our money and run.
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its off to work we go
jon
i think that this was already priced into the market on its runup from the .40's to the 1$C plus. lets say 40 to 120 gives us a 50% fibo retracement to the .80 level. thats where we are now, altho probably more profit taking might depress that to .65 for an add position. a signed and completed deal should break out the stock for a burst to higher levels. this play has the look of the right people, property and vision. phinancing should surely come in a well run basic commodity play in this phinancial environment. i see much higher levels in two years, unless china crashes, then trouble. well, thats part of the risk no?
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its off to work we go
jon
whats your take on the news?
jon
forgot to mention FR.v - my biggest position - a position and a half. thats what happens when you have a full position, dont sell and you get a big runup. anyway impressed me as a no nonsence lets get down to the business of mining silver. the ramon davila hiring told us that tho, but this confirms it for me. well, i guess the cats out of the bag now - they told me there at the PDAC that they expect to mine 4 million ounces in 2006 and 12 million ounces in 2007. lets see cash cost of 3.00US POG of 7.00US gives us a profit of 48million $US in 2007! what kind of market cap do you think that they will have then? 480 million? whats that in canuck bucks - 570 million? they dont think that they will have to do much dilution to achieve this either. they are soon cash flow positive and are doing things on the cheap - shared a booth with 2 (TWO) other companies. only the ceo, the investor relations guy, and their secretary attended, no flash just the facts as they see them, and an annual report. lets see 12 million ounces silver what pirce will it be then? you think that "they" can supress the POS for another 2 years? ha!
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its off to work we go
jon
impressive presentation at the PDAC. this one could be real big, the ? mark is - can they bulk mine this deposit at reasonable cost or is there too much dead stuff between the workings of the garimpeiros? the company thinks that they can, the market isnt so sure. but hey, they own a LOT of land, all with workings of miners on it. the next target will tell us a lot, as will their earnings in the next quarter
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its off to work we go
jon
palladon ventures wasnt at the PDAC - too bad i was looking forward to talking to them
jon
at the PDAC the nevada pacific guys claim that they will are cash flow positive right now! that february was the first month of making real money - and the mine is just getting up and running. they are committed to an extensive drill program to prove up their deposits in nevada. they think that the majestral mine should have much more gold and silver than currently proven and will be drilling there as well. dilution should be minimal from here. i decided to play this one as a hold.
hi ho hi ho
its off to work we go
jon
here is my impression on the PDAC - we are still early in the PM/commodities bull market. most people there were in their 50's with smatterings of older and 40's. few in 30's and noone in the twenties - except for the hired faces to smile at the men. i decided to not buy any company with a hired face - altho they were mostly working for diamond companies - i dont buy diamond companies. when the convention is full of 20 and 30 somethings and there are boobs and legs draped over all the booths THEN its time to take profits and run. heres my take on some of the PDAC companies that i talked to (forgive me if they are not all mexican) AGI, DSM and SPM all impressed me as being well run. AGI and DSM had both impressive presentations - especially AGI when mccluskey stated that all the majors now realize that mulatos might be another yanacocha but i guess they dont want to pay his price, and why should he sell - dont WE want to make that profit ourselves rather than let some major screw it up? with DSM it still remains a questionmark if these high grades that the garimpeiros have mined in the past are bulk minable at low cost or not. not being a geo ill just have a 1/2 position in that one. SPM clearly recognizes their errors in handling the retail investor - they are making a good effort (third booth on left when you walk in main room). the guy i talked to inspired confidence in me that they are an honest bunch and admit their mistake in not marketing to the retail investor from the getgo. only 5/30ths of the stock is in the float and there werent enough educated retail types to absorb an institution bailing out and scorpio didnt make any efforts to find a buyer for this institutions stock. they admit their mistake. their new mining plan WILL make more money in the long run altho they didnt communicate that to the retail public i think ill add a little bit there. into gas - i talked to the ceo of ADB and clearly was impressed with their business plan and earnings growth. i think ill buy some before their 2nd quarter earnings are due out and some more in the summer doldrums - should be able to get it at 1.35-1.50 or so. perhaps the market will ignore their earnings if the gas price slips into the summer as it tends to do after march. into moly, adanac seems to be well run, but FAR too early to buy imho - im gonna wait for the price of moly to take a tumble because the company wont produce for another 2 years. preproduction seems the time to buy many of these companies. ill look at them again at the next PDAC.
hi ho hi ho
its off to work we go
jon
i thot the bottom was in at 1.35 but weeeeeell i was wrong. i missed RNC at the PDAC - they were only there sunday and monday - i went tuesday. really wanted to talk to them personally - body language and all. made some decisions on my portfolio there - how the company principles come across means a lot - are they blowhards, bs artists or are they straightforward? gotta make this decision on the phone next week. i think ill save some powder for RNC tho just in case. there should be a double bottom to let us know when - tho i thot that on SPM too at 1.05 and i was wrong. still i have made FAR more money bottom fishing than chasing the hottest latest thing on a breakout.
hi ho hi ho
its off to work we go
jon
i attended the alamos and desert sun presentations at the PDAC. alamos was particularily impressive. the company didnt come across with a lot of ra ra stuff like hired faces to smile at the men like other ones did, but a VERY impressive 3D computer simulation of the drill holes and ore zones from underground. they claimed that the majors now realized that mulatos is indeed special and has many characteristics of yanacocha. they are confident that they can add a minimum of a million ounces in this drill season - and that there are at least 12 million ounces in mulatos. they plan on 150,000 ounces in the first year to 250,000 ounces in 2007 - fast track to mid-tier. then the other end of the zone is there next drill target and they think it might have another mine there as well. this company in no nonsence - get down to business, lets make some real profit. they stated that when they start mining that they will have lots of cash and need to plan carefully how in invest it to build value. im glad that i selected this one as my blue chip several years ago.
hi ho hi ho
its off to work we go
jon
will do! (of course ill make my own trades first, yuk yuk)
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its off to work we go
jon
The PDAC - is anybody going? im gonna be in a bright red 3 button shirt with "Longjonsilver" as my nametag. see ya there
jon
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its off to work we go
is RNC going to be at the PDAC? ill ask them about the PP if they are. it sounds like a sweetheart deal to me, so you could be right. is anybody else going to the PDAC? ill be wearing a bright red 3 button shirt with "Longjonsilver" on the nametag.
see ya there
jon
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its off to work we go
PLL.v has got to be the best deal on FE that there is! have you guys run the numbers? to me it looks like this: 1 million tons of 50% iron rock sold fob mine for 20$/ton in the first year is 18$US/ton profit (as per company) PLL.v's 66% is 12 million$US = 15million $C. at a really conservative 5 PE we get a company market cap of 75 million or 3$C/share - selling for less than 1$C/share. if bob moriarity is right and the rate for 50%fe rock might be more like 30$US fob mine site then the numbers are 18million/year profit to PLL or 22million$C - using a more reasonable 10pe we get market cap of 220 million - or 9$C/share.
of course all this is dependent on the deal being finalized AND fe prices staying high. but there is much more upside than even this: this is a fully developed mine with mill and railroad lines, and st george is a town with trained and unemployed mine, mill and steel mill workers. local and state officials are anxious to get this going again - remember they feed off taxes and no work no taxes no? processing the iron rock into ingots would be even more profitable and a steel mill even more profitable. the longterm upside is enormous! and this puppy could be profitable from the starting gate - why would you want to buy some mountain somewhere that might be a mine someday?
profit taking of those of us that have a double already is considerable but after a period of consolidation in the .80-1.00$C range i expect more upside. i am fully invested in PLL and havent sold even one share.
http://www.321gold.com/editorials/moriarty/moriarty021505.html
hi ho hi ho
its off to work we go
jon
anybody care other than me?
jon
anybody have any idea of whats happening with scorpio? the price just keeps sinking. i added in the low 1's area and now am sorry as it closed at less than .70$C. it seems to me that the bad news is all over - silver tanking in april 2004, stopped trading due to counterparty reporting problems, delayed production decision - just been good news lately - drill results for one. david morgan said that this was the best silver buy of all when it was at 1.10$C whats up?
jon
this stock is HOT and where is the interest? up 20% so far this week WOW!
hi ho hi ho
its off to work we go
jon
this bunch is just about to mine real gold and this board is just DEAD! what gives guys? bob moriarity gave this one his green light but no action. hmmmmmm. well heres some news:
(think that this is important or what?)
Renowned Gold Expert Ferdinand Lips Joins Desert Sun Advisory Committee
Tuesday January 11, 12:10 pm ET
TORONTO, ONTARIO--(CCNMatthews - Jan. 11, 2005) - The Board of Directors of Desert Sun Mining Corp (TSX:DSM - News; AMEX:DEZ - News) is pleased to announce that Ferdinand Lips has joined the Company's Advisory Board. Mr. Lips is a well-known fund manager and is one of the world's foremost authorities on the gold market.
ADVERTISEMENT
Stan Bharti, P.Eng., Chairman of Desert Sun commented: "We are very pleased that Ferdinand Lips has joined the Advisory Board of Desert Sun Mining. His vast knowledge and experience will be an invaluable addition to the strong group of Advisors we have assembled."
Born in Switzerland, Ferdinand Lips has over 50 years experience in banking and finance. Over his career he has been Managing Director of Rothschild Bank AG, Zurich and Chief Executive Officer of his own Private Bank, in addition to a top-performing precious metals fund manager. With 30 years direct experience in the gold industry, Mr. Lips has served as a Director of Randgold & Exploration (JSE:RNG), Randgold Resources (LSE:RRS.L - News), and Durban Roodeport Deep (Nasdaq:DROOY - News). He is currently Chairman and manager of the Top-Gold Fund, based in the Principality of Liechtenstein.
Mr. Lips was a founding member of the Swiss Association of Security Analysts and is a trustee of FAME, Foundation for the Advancement of Monetary Education, based in New York. He has widely lectured on monetary history, bonds and stock markets.
In addition to Ferdinand Lips, the Desert Sun Advisory Board includes William Clarke, former Canadian Ambassador to Brazil, David Williamson, a mining and commodity analyst in London, UK, Dr. Rick Garnett, a geologist with over 40 years experience worldwide, and Dr. Chuck Thorman, a recognized expert in the geology of Brazil.
Desert Sun Mining is a Canadian gold exploration and development company listed on the Toronto Stock Exchange and the American Stock Exchange. Desert Sun owns 100% of the Jacobina Mine and the 155 km long Bahia Gold Belt in the state of Bahia, in northeastern Brazil. The mine will re-start operations in the first quarter of 2005. The SNC Lavalin Feasibility Study, completed in September 2003, indicates that the mine can produce at a rate of 102,000 ounces of gold per year at an average cash cost of US $189 per ounce.
As a result of the 2004 exploration program, both Measured and Indicated resources and Inferred resources have increased significantly. Current Measured and Indicated resources now total 24,800,000 tonnes @ 2.53 g/t Au containing 2,050,000 ounces of gold. Inferred Resources total 22,000,000 tonnes @ 2.61 g/t Au containing 1,900,000 ounces of gold. The company is in the process of updating its Reserve Estimate.
Desert Sun previously released (see press release of February 12, 2004 and report filed on SEDAR) the results of a scoping study by SRK Consulting that extended the SNC Lavalin Feasibility Study mine plan an additional 11 years by scheduling the potentially "mineable tonnes" resulting from the conversion of inferred resources based on historical data. SRK Consulting considered that Jacobina has the potential to deliver "economically mineable tonnes" containing 2 million recoverable ounces of gold and that the optimum production rate at Jacobina was likely 5,200 tonnes per day or 154,000 ounces of gold per year. While, it must be cautioned that the SRK study is not adequate to definitely confirm the economics of the inferred mineral resources, the 2004 drilling program has successfully upgraded a substantial amount of the existing inferred resource to the indicated category which can now form the basis for an expanded feasibility study. (www.desertsunmining.com).
Statements in this release that are not historical facts are "forward-looking statements" within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. Readers are cautioned that any such statements are not guarantees of future performance and that actual developments or results may vary materially from those in these "forward-looking statements".
Contact:
Desert Sun Mining Corp.
John Carlesso
Phone: (416) 861-5881 or 1-866-477-0077
or
Desert Sun Mining Corp.
Kam Gill
Phone: (416) 861-0341 or 1-866-477-0077
Source: Desert Sun Mining Corp.
cool, lets hope that this is just the start of a string of good news - this puppys 13% of my portfolio - and by the way they released this today:
RNC Gold Strengthens Board of Directors
Toronto, Ontario, (January 12, 2005) RNC Gold Inc. (TSX: RNC) today announced that Harry Hopmeyer and Tim L. Mann have joined RNC's Board of Directors.
Mr. H. Hopmeyer is an entrepreneur and corporate officer with more than 25 years of experience in both Canadian and U.S. enterprises. He is a co-founder and director of Faircourt Asset Management Inc., a firm that manages in excess of $650 million in assets. Mr. Hopmeyer is also a Senior Canadian advisor to BLC-Edmond de Rothschild Bank in Paris, is Chairman of CSP Security Group and was recently appointed to the Canadian Centre of Security and Intelligence based in Ottawa. Previously, Mr. Hopmeyer co-founded Fast Company Media Enterprises and along with the editors of the Harvard Business Review (HBR), played an instrumental role in its sale to the Bertlesman Group in 2001. He co-founded Prime Restaurant Group and built it into the second largest casual dining chain in Canada. In 2003 he served as President and CEO of Kruco Inc. (a holding company) for parts of the Kruger Pulp and Paper family. Mr. Hopmeyer is also extensively involved in various charities and civic ventures. In 2002, Mr. Hopmeyer was awarded the Queen's Jubilee Governor General Medal, honouring his significant contribution to Canada.
Mr. T. L. Mann brings more than 35 years of mining experience to RNC's board. He currently operates TLM Consulting a firm that provides a wide array of services to the mining industry. Mr. Mann acquired extensive experience throughout the mining cycle in various management roles for SNC Lavalin, as Director and Vice President of Operations for Goldcorp, and as senior manager of several mines and projects for Placer Dome. Mr. Mann is a Professional Engineer who graduated from the University of Nottingham. He is also a fellow the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) and a member of the Institution of Mining & Metallurgy in the United Kingdom.
"The addition of these two outstanding individuals will bolster the financial and technical expertise that the Board can draw upon and, consistent with corporate governance best practices, will increase the number of independent directors," said Wayne Beach, Chairman of RNC Gold.
The appointments of Messrs. Hopmeyer and Mann are subject to approval by the Toronto Stock Exchange.
Mr. Kabir Ahmed is resigning from the Board of Directors. Mr. Ahmed is continuing his association with RNC as President and CEO of Northwestern Mineral Ventures Inc., RNC's joint venture partner in the Picachos silver/gold project in Mexico. RNC's Board of Directors and management team thank Kabir for his invaluable contributions during RNC's formative period as a public company.
About RNC Gold
RNC Gold is a gold mining company focused on projects in the Caribbean basin. The Company's main assets include the La Libertad and Bonanza Mines in Nicaragua, the Cerro Quema project in Panama and the Picachos exploration property in Mexico, as well as the option to acquire 25% of the San Andres mine in Honduras.
For further information contact:
Randy Martin
President and CEO
RNC Gold Inc.
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its off to work we go
any ideas on whats up with alamos gold - agi.to? its been on a tear this week - up almost 20%
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its off to work we go
jon
what do you think of MAN.to as a bottom fishing play from these levels? trading at .08$C today. company now valued at 4.8 million $C not counting cash
jon
well, i hope ur rite, ive been sitting on some NPG forever and its about time for some action! good to hear about ir at NPG, they have been having good press releases, the market seems to just yawn. that will change, good properties, good management, thats the key imho.
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its off to work we go
jon
well i read this thread, but dont post much - not all that exciting since the april massacre. still - how about AGI friday?!!!!! nice move - got me some RNC (has a mexico property) and SPM, (mexico and quebec) and a little DSM (brazil) - well at least its hispanic!
hi go hi ho
its off to work we go
jon
well both u and amarksp do a better job, but if u really think the job should go to me, send me an advance of 50,000$C for a years work (parttime) payable in goldgrams, loonies or RNC shares at 1.45. seriously tho i bought another 1/4 position to bring my total up to 3/4 position. gotta get my wife and kids positions now. if it goes down, ill just overload with RNC selling XXX.to
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its off to work we go
jon
(the seven dwarfs were miners werent they? gotta watch that film again - shoulda woulda coulda) while i dont pretend to be snow white (too much testosterone) i know my seven dwarfs quite well - which one is this? sleepy?
i built up a 1/2 position yesterday and today at 1.45$C based upon a phone call to the company - embry has 13% of company according to tom laugh. david morgan of silverinvestor.com has RNC as his top gold pick. i figure that the MC of RNC is 36 million fully diluted minus cash - AGI 220 million fully diluted minus cash - DSM 80 million fully diluted minus cash. all will soon be or are producing about 100,000 ozau/yr and have significant district sized land positions. based on AGI's market cap RNC should be selling at 9$C - there is a lot of upside in this company BUT tom laugh said that there were not a whole lot of plans for promotion. if no one knows about this, how can the value be realized? bob moriarity thinks that DSM is a great deal, and it is im sure - i bought some myself, but RNC is selling for 1/2 - compared to DSM, RNC should be a 3$C stock. no promotion, no realized value, real simple
jon