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RMX.to - from MexicoMike blog:
dirkdiggler
Posted: Wed Oct 07, 2015 4:56 pm
Not with a 10' pole would I touch this stock. They also make it protocol not to keep shareholders in the loop concerning negative developments i.e. the five step order handed down by the gov't happened in early Sep!
Also, concerning their cap-structure? Go to their website and try to find an easy link to their CURRENT number of outstanding shares fully diluted.....one needs to delve into one of their pdf's to get that answer, and is it up-to-date? It should be a front-n-center link under the 'Investors' tab at the top of the home page; but advertising that they're basically diluting shareholders to death wouldn't be prudent. On that subject, they'll need more money, so another financing is likely about to drop with a resounding thud!
While I'm here, here's a quote from earlier today from an experienced mining engineer, one Tim Oliver: "Predict they will suspend UG crusher install to conserve capital. Would not surprise me if they already did but haven't told anyone. This is not a group who says much unless forced."
Rant over...........
kjm
PostPosted: Wed Oct 07, 2015 3:06 am
Allan Brent Cook @Allan and Mom. I’ve never felt comfortable with the narrow veins and erratic gold presented in the resource report for Phoenix. Add to that ground problems and resultant difficulty in mining and expected higher dilution and it was an obvious pass. $RMX has sunk ~C$685 million in this thing over many years, produced a mediocre PEA and begun mining off that study. As Tim Oliver pointed out, the capex blowout, extended down time and other problems make this marginal, even if they can get it running. Add in the 6% stream to Royal gold, probable need for another financing and I don't see what the hard part is. Just ‘cause it’s in Canada doesn't make it a winner.
Regards $PVG, I don't understand the resource methodology and its relation to the real geology—so stayed away. Time may prove me wrong, I hope so. But my experience has been that investing in things you don't understand usually ends badly.I don't hate high grade mines, just ones that don't make money.
Nuff said.
IRL.TO - Minera IRL
Otto Rock has a more in-depth article about this situation which seems to be more serious. It will be interesting to see if a community can force a company to change executives in order to possibly save a project (and the company).
http://incakolanews.blogspot.ca/2015/08/what-subscribers-knew-about-minera-irl.html
And we thought Nigeria was bad.....
http://www.businessinsider.com/drug-cartels-are-stealing-billions-worth-of-oil-from-mexican-pipelines-2014-9
It looks like this board has been taken over by REX. Isn't there a REX board where this continuous back and forth can take place instead?
SFY - Swift
Frank Curzio had a short comment today on Swift in The Energy Report:
"I like Swift Energy Co. (SFY:NYSE). It sold its non-core assets and put the money into drilling in McMullen and La Salle counties. The company didn't raise quite the money it wanted, so management lowered production rates. The company's stock took a hit, but it will still produce a ton of oil in Eagle Ford. It's a fantastic buy."
The next wave of technology may accelerate the fall-out. I haven't seen or used them, but apparently there are apps out there (or being developed) that allow you to scan a barcode in a store (say JCP) and find out the pricing in other stores (say Sears, Walmart, Target) which tells you where to buy it cheapest. If that tech becomes common, there will be chains that will lose.
AIX.V - another viewpoint on Alix Resources from the blog Vancouver Venture:
So the Venture Exchange and the BCSC pulled the rug out from Michael England's Alix Resource's Bitcoin adventure, go figure. In true VSE fashion the promotional door is left open in the second paragraph.
With regard to the proposed launch of a Bitcoin exchange (see press release dated Nov. 14, 2013), Alix Resources Corp. will not be proceeding with the implementation of a Bitcoin exchange at this time. Instead, the company will conduct additional due diligence on the Bitcoin sector prior to making a decision as to whether to implement a Bitcoin exchange. The company will provide an update to its shareholders when the due diligence process is complete.
The company further announces that it intends to continue its proposed Bitcoin service payment plan with its mining service providers, whereby such service providers will accept payment in Bitcoin for their services. Since the company's initial announcement, the company has received favourable responses from other entities in the junior public mining exploration industry, and anticipates that it may enter further Bitcoin service payment plans with others. The company will provide further updates as they arise.
So this whole Bitcoin/Alix Resources got me thinking just how much a CEO who's bio emphasizes various roles including Investor Relations runs a stable of companies that are PR machines. As I have stated before many Venture guys are in the business of selling paper and sizzle. Three of Michael's companies have sold all the sizzle the Venture has seen in the past five years except potash, diamonds and a Bakken/oil sands/shale play, always being touted on the latest hot trend in the hot proximity areas. So follow along I am going to cover Alix Resources along with Caribou King Resources, Ashburton Resources.GeoNovus is off the hook on this one.
So lets start with Alix Resources:
2007:
Only 15 news releases in six months, pro rated that would equal 30 news releases as Alix transforms from a CPC with an Alaska property and an Arizona property.
2008:
Exceptionally quite year for Alix with only 12 news releases.
Alix gets in on the coal game in Saskatchewan and quotes discoveries by other players including Goldsource Mines and Adamas.
2009:
Alix is in full news release/selling paper mode with 40 news releases in one year.
Alix and non arms length company Geo Minerals gets more coal action in the Torch River play with plenty of name dropping. February, March and April see lots of announcements to close a financing.
June 2009 ushers in the Yukon gold rush on the back of Underworld's White Gold project. and another financing.
July, September and October and again Alix milks the coal story with a lot of news releases on the upcoming coal drilling program and the proximity play. 2009 proved to be a busy year, Alix also announces another gold play in Alaska once again dropping Sumitomo's and International Tower Hill's name in the process.
Alix Resources also had to add a Stewart BC play in the mix with a proximity play to the Red Cliff property.
2010:
The news release count drops to 16 for 2010.
January starts off with a bang just before the Cambridge show with Alix jumping on the rare earth train with the following.
March the BCSC starts red flagging Alix's deals including the Alaska/ITH/Sumitomo proximity play.
In August all that paper issuing results in a 15:1 rollback time to get the presses going one more time.
October, Alix signs another Alaska deal with this quote: “We expect that the Golden Zone Property will become a very major asset for Alix,”
Somewhere along the way Alix throws a Nunavut property into the mix. The best part of this news release is the following.
Alix Resources is a junior exploration company actively seeking mineral and energy opportunities for the benefit of all our stakeholders.
More like whatever they can sell into.
2011:
21 news releases in all in 2011 with more stock issued and deals, deals, deals..
Just in time for the Cambridge show and PDA in January a revised resource model followed up by a base metal property.
Alix signs drill contracts in March for one of their Alaska properties and finally starts drilling in August.
May Alix and non arms length Caribou drop names and pick up an old Atac Resources play in the Yukon.
Alix and Caribou claim proximity to Prophecy Platinum Wellgreen property next and report on Prophecy's results to date. Leading to another red flag at the BCSC for clarification.
Alix pulls a pretty good drill intercept (256 meters of 1.5 g/t gold) but it is contaminated with arsenic.
2012:
The press releases are slowing a bit in 2012 to only thirteen.
Corvus Gold unloads their Alaska obligation on Alix here. Jeff Pontius and Mike England pat themselves on the back with the following statement.
Jeff Pontius, Corvus Gold CEO states: “…Corvus is keenly interested in having Alix apply their knowledge gained on recently completed work north of WP to define and drill targets on the Corvus ground in this win-win partnership.”
"We are very pleased to add Corvus' West Pogo project area to our Money Rock project just west of the Pogo Mine," said Mike England, President and CEO of Alix. "There is clearly a great synergy in combining Alix' and Corvus' lands and expertise into an expanded project in this area. Our geologists are excited to fully digest the Corvus data package and get started on our 2012 field program."
I would assume that Arizona has a warmer climate to continue the stream of news during the winter months.
2013:
18 news release so far in 2013.
2013 starts off with the intention of re-starting mining operations on the Big Stick Mine in Arizona.
Then moves to a bulk sample from another property Arizona with the chance to restate history.
Next up is a Tungsten property.
And the Coup d'etat for 2013 is the Bitcoin Exchange
Followed by some serious latex glove probing by the BCSC with the following clarifications here and here.
Thank-you Opzeeland
ORT.TO
The article says that they were let go in the spring so that is well before the Neptune incident so I'm not sure there's any connection. It says the first ORT installations were experimental labs so IMHO maybe now the company just wants properly trained employees as they move forward into commercial production. The article didn't really give enough details to make any judgement.
I second the motion - kill the italics and underlines everywhere you post as well.
MMT.V/MAUXF - Bobwins, I got my dividend today so you shouldn't have to smudge the window much longer.
SAC.TO - South American Silver
For those who wonder about country risk, here's another example of how important it is to consider. Bolivia, which has always been higher risk but have been trying to convince the world that they're a good place to invest in, is now considering nationalizing this company's silver mine. You just never know!
http://www.reuters.com/article/2012/07/09/bolivia-southamerican-silver-idUSL2E8I90EZ20120709?feedType=RSS&feedName=financialsSector&rpc=43
Orbite ORT.TO
The only person I've read who is negative on Orbite is Jon Hykawy at Byron Capital (who has a 'sell' rating on it and a $0.90 target). I don't pretend to understand the technical arguments of his but he feels Orbite is being way too aggressive with their claims and that their timeline is not realistic. Not that they can't ever make it work but he feels they're planning for perfect execution on everything which rarely happens. So he feels it's overvalued for his short-term investing horizon.
His issues are partly as follows:
"In our coverage of Orbite Aluminae, we have given voice to three major concerns about Orbite Aluminae’s Grande-Vallée project. In no particular order, those concerns are:
1. The rare earth and rare metal prices used in the PEA to determine revenue were unduly optimistic;
2. While inexpensive natural gas is used to power the project, there is no energy fuel source readily available at the project site; and
3. The technology risk in the project, in our opinion, requires the use of a higher discount rate than the 5% or 10% typically used in PEA’s for gold or copper projects. Indeed, in this report we raise another technology risk point for investor consideration, namely the impact that the circulating fluid bed calciner may have on the project."
Is he right? I don't have the expertise to know but I would hope Rusal and Nalco have an idea.
Bobwins,
What a great explanation. It must have taken you a while to put that all together so your effort and knowledge are much appreciated.
Enjoy your BD.
Article from MINEWEB.COM
http://www.mineweb.com/mineweb/view/mineweb/en/page66?oid=149290&sn=Detail&pid=92730
Canadian juniors' cash holdings start to look fat as market caps sink
Junior market capitalization have sunk hard leaving some juniors sitting on hefty cash piles. Meanwhile some analysts suggest it's time for investors to start hunting.
Author: Kip Keen
Posted: Friday , 13 Apr 2012
HALIFAX, NS (MINEWEB) -
For juniors overall 2011 and 2012, so far, have been a veritable plague. Many a junior market capitalization has painfully shrunk. There are often individual reasons beyond general market malaise for that pain, of course. Some juniors have disappointed (former) investors with lackluster plans for minerals assets. Some may be in project development periods that are too boring for the gambler. But beyond those and other individual causes, it is hard to ignore the greater downward pressure on speculative investing over the past year or so as paramount. And this plague - symptoms of which include feverish risk aversion - has left some members of the broader junior population with, relative to market capitalization, fatty stores of cash.
In a non-comprehensive selection of junior explorers holding cash worth at least 20 percent of their market capitalization - compiled over the course of a few hours research - you'll find some truly astonishing figures. One junior, Gobimin (TSX-V: GMN), with a market capitalization around C$44 million held some $60-odd million in cash at last count (late last year.) Meanwhile seven other junior explorers on the list held, or were set to hold, cash worth more than half the value of their market capitalizations: Canaco Resources (TSX-V: CAN), Canada Fluorspar (TSX-V: CFI), Keegan Resources (TSX: KGN), Metalex Ventures (TSX-V: MTX), Southern Arc Minerals (TSX-V: SA) and a merged Regulus Resources (TSX-V: REG) and Pachamama Resources (TSX-V: PMA, merging now unfolding).
A good number of other juniors were not far behind. Allana Potash (TSX: AAA) held C$55 million cash as compared to a C$113 million market cap. Prodigy Gold (TSX_V: PDG), after a recent financing, will hold some C$63 million cash versus its C$188 million market capitalization. And Exeter Resource (TSX: XRC) has about C$72 million in its kitty and a market capitalization of C$225 million.
A quick look at a few junior producers tells a similar tale of deflated market capitalizations versus inflated cash piles. Nevsun Resources (TSX: NSU) held at least $347 million in cash, about 60 percent its C$578 million market capitalization. Capstone Mining (TSX: CS), with a market cap just over a C$1 billion, had nearly half that in the bank.
This cash bloat has at least one common cause. Over the past year many of these juniors followed a very similar shareprice history: heavily down as the junior market soured. That has inflated cash reserves. Gobimin is trading around C$0.65, which is well off recent highs of around C$0.80. Allana was well over C$1.50 in the first half of last year. Now it's closer to C$0.50. Keegan Resources traded near C$8 during the first half of last year whereas these days it's closer to C$3. Exeter was between C$4 and C$5 for much of last year, but recently hit C$2.50 or so. Canaco Resources was over C$4.00 mid last year. It is now under C$0.86. And, finally, producers such as Nevsun and Capstone are significantly off higher trading ranges that they enjoyed last year.
No doubt there are particular circumstances at work in these - and many other - junior stories that, to varying degrees, make cash holdings look more incredible than they really are. Things like mega projects that will need fullsome financing to go forward or looming capital spending programs set to expand or extend production. But in this cash bloat there is also the far more pervasive current: a general, incontrovertible market sickness eating away at junior market caps and leaving cash constitutions comparably olympic in health.
These cash highs may support an emerging sentiment among analysts that, on the whole, the junior market is oversold. Meaning: it could be time to invest in some juniors. Canaccord's junior mining team recently let it be known it thinks so as far as the gold sector. Making the time-to-buy case in its daily newsletter the Morning Coffee Canaccord put it this way. "Despite all of this negative vibe on gold equities, our Junior Mining Team believes that technically, fundamentally, and intuitively, they appear oversold. The best part is that, when the bulk of investors are nervous, and selling, is when smart money is selling faster. We jest, but is it time to plug your nose and dive in? We think so."
Similarly, Haywood Securities argued in a recent roundup of gold and silver equities that some juniors are looking cheap. "The market selloff that affected much of 2011 has surfaced a number of interesting investment opportunities in the gold & silver space." As advice to shoppers, Haywood added, "Our preference is for companies with the same core advantages that have rewarded investors in the past, including management strength, technical expertise, projects with geological merit and attractive cash to market capitalizations."
Are the wolves to come out then? picking off those juicy stragglers in the junior herd? If they are they will undoubtedly consider cash, among other equally important factors, in making their choices. This is more true now than it was in recent years. Financing sources have gone dry and if tougher financing days are here to stay, then some juniors are going to wither. But that ultimately could be good for investors and juniors as the former separate the the meat from the bones. In recent years, with such a vast number of juniors to choose, some argue a sort of junior cannibalism occurred. Too few investors have spread precious dollars between a glut of competing stories. With fewer juniors stories for sale, however, it would be easier to reward those with promising mineral assets.
Gobimin - GMN.V - GMNFF.PK
Has anyone looked into this gold stock? Apart from being in China, I can't find anything negative on them - their numbers look too good to be true (maybe that's the problem!).
Recently updated resource - 4.2M oz gold
Cash & equivalents $63M with no debt
Market cap $43.7M (30% discount to cash!)
Pays a dividend.
Continues to repurchase shares.
Anyone know anything else?
WOF.V - the PEA may have only been on one of nine veins but it looks disappointing to me. Payback only in year 6 and an IRR of 22% and that's using $1,600 gold which is not normal. Usually conservative numbers like $1,100 or 1,200 gold are used. Of course, at some point, someone has to start using more realistic gold prices. But PEAs for other companies are often better at $1,200 and skyrocket using $1,600.
MILL - their website says they are covered by 3 analysts from Agora Capital, CK Cooper and Suntrust. I'm not familiar with any of those three. I also don't know which one is the one Yahoo is saying covers them.
EXMGF.PK - MIN.V - EXCELSIOR
Stills, though Baja may be closer to production, I think Excelsior will technically be able to produce the copper more easily.
They do have warrants outstanding: as of Dec 5 they had 3,632,900 warrants between $0.50 and $0.65 expiring Oct 14/12 and another 7,311,265 at $1.00 expiring Feb 28/13.
I don't see too many risks with this one. Raising capex is always an issue but they will have cheaper capex because of their mining method. Peter Grandich (www.grandich.com) says this about Excelsior:
"Firstly, this is another demonstration that this is a highly viable project. Based on operating costs of $0.68 per pound, among the lowest in the world, the Gunnison Copper Project continues to demonstrate superior economics. It’s very rare that a junior mining company would talk about the economics of their project but in Excelsior’s case; the economic story IS THE STORY.
Secondly, the sheer magnitude of the economic benefits of Excelsior’s project can go a long way to convincing government officials and public leaders that this mine should be permitted in as timely a manner as possible. With the release of these economic numbers, all of the surrounding communities seem to have a vested interest is seeing this project advance to commercial production. I should reiterate here that one of the key attributes for Excelsior is the remoteness of the Gunnison project; there are no communities in the immediate area that could be adversely affected by mining operations – in fact, the only neighbor is an open pit copper mine sitting just over one mile away to the northwest. However, communities such as Benson and Wilcox, each approximately 12 miles from the project, seemingly would derive remarkable economic benefits from Excelsior’s copper mining operations."
and
"In addition to a management team with its head screwed on straight, the project itself has solid fundamentals. The Gunnison Copper Project, which includes both the North Star and South Star deposits, currently has a total NI 43-101 indicated resource of 3.21 billion pounds of oxide copper (511 M tons at 0.31% at the North Star deposit) and an inferred resource of 1.26 billion pounds of oxide copper (221 M tons at 0.29%; 159 M tons at North Star and 62 M tons at South Star). And, in my mind, what really elevates this project is that these oxide resources have the potential to be mined using in-situ recovery methods, greatly reducing the financial investment required to begin production and the environmental impact of the operation.
The pieces continue to fall into place for Excelsior and its Gunnison Copper Project and I continue to believe that this could be one of the top stories of 2012 and beyond."
As to why so many mining companies are primarily listed in Canada? I don't know the exact reason other than the exchanges certainly cater to them. I've also heard people say "if it's listed on the U.S. OTC exchange but not listed in Canada - stay away from it." and "if you want to be taken seriously as a mining company, you have to be listed on the Canadian exchange."
Pace - PACEF.PK - PCE.TO
Cliff, I agree with you on the value of Pace. I found Pace back in Oct and couldn't believe how undervalued it was. Of course, I was also lucky that I found it when it was hovering around its lows.
I think part of the reason for the low share price is that it has always been more of a gas play and people are avoiding those as the NG price sinks. But it has been doing what other gas players have been doing and that is putting capex into their oil plays as much as possible - so they may start to get recognized for their improving % of oil soon. Another gas company - Vero VREYF.PK VRO.TO - just sold off some of their gas assets and the share price immediately jumped because they became more oily.
Pace has land in some of the best plays in Alberta so I think there's great upside from here. I'm a longer term holder anyway so I can patiently wait for the real value to be realized.
PCCRF - Stills, I do think there is great upside to Curis. Their biggest problem is the permitting for their property within the city of Florence as the city has refused it. Apparently there is a wealthy land owner next to the Curis properties who is campaigning against the permits. But about half their resources are on state land and the state is supposedly all for the development. Curis now plans to develop the state land and prove to the city that the development is worthy of a permit. Curis is also backed by Hunter-Dickinson Group which has a long history of developing mining companies so that should help. A well-known mining newsletter writer, Mickey Fulp, has recently just recommended Curis. Here's his write-up:
http://www.goldgeologist.com/update/ma2323.pdf
Excelsior is another copper mining development in the same area and they aren't on city land so shouldn't have the same permit problems.
BAJFF - Stills, I've been following Baja as well but haven't bought any yet. Personally I prefer Curis (CUV.TO, PCCRF.PK), Excelsior (MIN.V, EXMGF.PK) and Yellowhead (YMI.V, YHMGF.PK) for copper plays though Baja is certainly helped by their cobalt kicker. Their capex is expensive at $1.1B but it is fully funded which is obviously very good in this economy. As much as I don't trust analysts, they do have a share price target range of $1.75-$1.90 so they expect at least a double.
Some other people who have said they like Baja:
Drexion (Fernando) - respected poster on other boards
Ratobanco - respected poster on other boards
Brent Cook - says it's a difficult geology but if they can make it work, the stock is undervalued
GBG - this is what Thom Calandra had to say about the price drop
"I have been tracking the extreme selling in shares of Great Basin Gold. A sell-side analyst after a mine visit to the Burnstone property in South Africa threw cold water on GBG’s efforts to employ long-hole-stoping methods to improve efficiencies and mechanize mining development. LHS is a way of excavating that is similar to diging an underground quarry. But it requires precision. To be sure, GBG, led by CEO Ferdinand Dippenaar in Johannesburg, could have defused the early long-hole-stoping controversy by spelling out just why at least two trial-and-error attemps were mostly in the error column. (I believe but have not confirmed that at least one executive lost his job over this. The LHS layout is now in its third blueprint, or iteration, one analyst says. ) Now that the company’s equity value of $500 million is a third of what it was earlier in the year, Ferdi Dippenaar is on the road, explaining why LHS is “the future” of mining in Suth Africa. On Dec. 12, GBG will bring analysts to Burnstone in an attempt to clear the air. “We started out on a trial basis, and we said that previously,” Mr. Dippenaar says. “We have improved the mining method; I am thrilled we did evolve the design where we now do less development, for more tons and ounces and less dilution.” He adds the current market cap reflects only GBG’s second mine, Hollister in Nevada. I have been to both several times and in my most recent South Africa visit, came away, I am sorry to say, awed by LHS and its possibilities. I was wrong then and hope to be right now. By the way, Nevada’s Hollister actually employs some select LHS methods. “It’s criminal. Burnstone will be a success, believe me. The London-based sellside) analyst spoke crap,” FD says. At least two other banks followed the original analyst’s report with downgrades, lowered ratings or reduced guidance of their own. I have reported extensively on Burnstone and Hollister and see this as a special situation. If GBG gets more ears next week in London and after that on the site tour, the shares will gain 20 percent in short order; they’re now at 93 cents USA, a level that has me adding to my money-losing GBG position. If I were not in China next week, I would be on this revisit. Pray tell, Mr. Dippenaar, prove me right."
Thanks for sharing your research on Axmin. I think I will join you in dipping my toes in.
Bobwins, here are a few of cheap ones on my radar:
I'm only showing the gold ozs though some have other metals that would increase the gold equivalent ozs.
Kiska Metals - KSK.V / KSKTF.PK - MCap $36.7M - gold 2.717 oz - projects in Alaska & BC
Moneta Porcupine - ME.TO / MPUCF.PK - MCap $28.3M - gold 3.263 oz - projects in Ontario
Mega Precious - MGP.V / MPRXF.PK - MCap $33.0M - gold 3.030 oz - projects in Ontario & Manitoba
Rye Patch - RPM.V / RPMGF.PK - MCap $55.8M - gold 3.287 oz - projects in Nevada
Abacus - AME.V / ABCFF.PK - MCap $29.6M - gold 2.800 oz - projects in BC
Bobwins, for sure as Axmin advances the project and there's good news, the share price will move higher but I think you're a little high on the valuation. You're talking $200-$300 per oz in the ground for a mine in Central African Republic. Finding more ozs would help of course. There are lots of companies out there with similar or more ozs (and in safer places) with smaller market caps than your theory. But I agree that the price is dirt cheap as even if you pick a lower valuation per oz (ie. $100), you've still got a triple or more from here.
AXM.V - AXMIF.PK - AXMIN
Problem is they are only looking for 2/3 of their capex ($246M without contingency money) via debt which means 1/3 or $82M will be via a dilutive equity raise. And $82M at $0.05 (not taking into account an investor's discount) means an additional 1.64 billion shares on top of the 792 million fully diluted shares out right now. They probably will raise the $82M in stages so it won't all be at $0.05 but it's still going to be at cheap prices which means an enormous amount of shares outstanding. I like the story and the ozs but the share count is crazy.
Harley, I didn't realize you were Ian. I'm also following you on MicroCapClub. I was wondering where you disappeared to when you closed down your old blog. Has T.Sykes found you yet - LOL?
Harley, yours is definitely a good strategy but as you know, it can be a crapshoot anyway. Fast Track and Orphan Status can certainly improve the odds.
I've got some of your picks - YMI,ADXS, NVLS and VRSEF but also have ZLCS, RNN, BPAX, AEZS and MDCGF.
IGXT - actually it's pretty remarkable for a small company like this to get FDA approval without any 'help' like you mentioned. I'm watching this one as well now but it seems to me it had the "FDA approval" effect of going down after approval. I've been disappointed by many stocks over the years that went down after FDA approval. It's a tough business to predict.
Likewise, Tetra Tech is a well respected engineering & consulting firm. I believe they are the go-to people for water projects though obviously they handle many areas.
Harley, the cost estimates for manganese are difficult to verify because 98% of supply comes from China where we have limited info. The back-up supply is South Africa and again, I don't know how much info comes out of there. So we're left using the company's estimates plus the fact that they will be the only dedicated managanese supplier in N.A. Sounds like a no-brainer but just how profitable will they actually turn out to be?
VRS.V - VRSEF.PK Verisante
Great news to be approved in Canada and Europe and gives credibility to management who have talked about getting these approvals before year-end. But I caution that I've seen other equipment & drugs get approved by Canada & Europe but the stock doesn't do much - the catalyst is the FDA approval for the USA. Hopefully this time is different.
I'm loaded on this and was lucky enough to scoop up lots on the market drop in early August - I'm a strong believer.
EPC.V / EMNGF.PK Empire
Bobwins, seems like almost an overreaction on their part to lay off staff and put the mine on maintenance based on assumed possible bureaucratic delays. That is unless the gov't told them how long it would take to fix the errors and it made sense to do that. I wonder if the gov't will take offense at the laying off of people.
I've got Tirex TXX.V - TIRXF.PK on my watch list. They're trying to fast-track some mines in Albania as well. Do you have any knowledge/comments on their progress and whether they're likely to encounter some bureaucratic obstacles? I had thought Albania was desperate for mining employment.
Malc, here's the link for the article on the origins of Ucore
http://www.businessweek.com/magazine/alaskas-billion-dollar-mountain-10272011.html
AEZS - I'm with you on that Malc. I've invested in AEZS over KERX due to a deeper pipeline and you're still catching the benefit of anything good that happens to KERX. These biotechs are always a very tough call though - I don't understand the science well enough and then doing DD finds apparent experts disagreeing on the outcomes so it leaves me even more confused. These two companies do seem to have a pretty positive following but that means nothing to the FDA.
I think the Yukon plays are suffering as well from the backlog at the assay labs. Investors were expecting great drilling results this summer and we're only getting drips and drabs so far. I look at stocks like Ethos ECC.V and Golden Predator GPD.V which are a couple of the "star" explorers and they've fallen like a rock.
Graphite juniors:
Northern Graphite NGC.v
Focus Metals FMS.v
Strike Gold SRK.v
AXPW - what an unlucky guy Lewis Taylor is to have appeared in court twice in front of, as he says, "gullible judges in Nevada and Toronto." - LOL
Hey Stills, I'm in the same boat as you - all the same stocks except for TPI. Eventually the black cloud will clear and what I believe to be good ones will make me lots of money.