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knows something ?
or
believes (he knows) something ?
Like the elephant.
If one follows a gambler is one doing better than gambling?
Welcome aboard. Domestic cobalt production is bound to have its day - why I have been here for a while.
I have not looked into which lithium ion cathode technology Tesla is targeting. Ian't one of the best based on high-purity electrolytic manganese? best based on charge speed, density, and memory behavior.
I am concerned at the recent management change, the loss of the longterm champion of the CO project. But that is all to be seen.
There certainly is no closer, secure supply of all grades of CO.
GLTY
Isaw the big volume and price spike yesterday, but found no news either.
inflation will not happen until after the excessive bloat of trillions added to the Fed balance sheet gets to the consumer economy instead of being locked up in the financial institutions
"friend of the court" or whatever such letters are called, sent to the AMF ? to include as part of its action against Andrew and crew ?
I can appreciate what you have to say. However I would expect European sensibility to better understand EXS management. To me this is much like asking how one can understand a suicide. There ultimately is no way to understand what is not rational behavior, it is irrational and not something one can make sense out of.
IMO management of EXS is blinded by a gambler's lust, believing so firmly in their story that they are unable to analyze the situation and see it in any other context.
looks like he didn't see the rights offering as a deal
so far no filing on Sedar about any share issuance
The rough figure of 90 is not for taxes, it is for increase in taxes, per Q3 MD&A. I have to assume that is net of all consideration, deduction and whatever. Project all-in sustaining cost is with/withour Black For ? Actual was reported at 1077. Add the taxes plus anticipated increase, plus interest expense, plus obligated payments on properties, and then look at growth activities.
Bottom line is that they need to add $75 million credit facility to make sure the have financial flexibility to execute on plan.
With the late Jan date on yhe video I think it was like a paid marketing for the rights offering
I am sort of surprised there has benn no news on outcome of rights offering as we now approach one week post-close. Maybe it will be like last year KC drilling - didn't work so nothing ever said
Nice read, thx. I hold an alternative thesis. There exists an agreement to hold gold down while/until Chinese reserves are positioned to a certain target area into gold. In return the US has gained an orderly reduction in Chinese ownership of US debt and the havoc that could have resulted for the dollar (which also benefits China). etc
Indeed. I find the intervention vs manipulation distinction important, as the occasional reset of base range for precious metals, as with gold centered on 1250, 1350, 1450 is not just part of how the manipulators are "paid" but also the other (that I did not mention in prior posr) way a trader can position to profit in the manipulated markets. Some of what WS tracks, short/long positioning by major bullion banks, etc. is a signal here.
IMO we are in extreme times, but not desparate ones, as far as the capabilities of the interventionist to paint a veil of normalcy over the realities. IOW to me it is not a matter of expecting loss of control and its defined norm, but of anticipating adjustments to that definition
Interesting Sunday read. Given the manipulation (which I call intervention since the main manipulators are only the operatives acting on direction of the govs and central banks) then the only course for profit in the sector, as your strategy appears to recognize, appears to be playing flip trades between the swings or recognizing and positioning for the rare near-certain M&A.
IMO the intervention is real, and very necessary in order to hold things together, and is also backed by such capacity that it could be maintained up to the point of all unraveling. The question is whether there is an exit strategy available, given that the intervention has been established. It is very similar to, in fact aligned with, whether tapering can fully exit interest rate suppression without triggering the problems of gov bankruptcy, inflation, etc.. The masses "want" to believe, and the fiat is based on belief. That greatly amplifies the economic forces the interventionists can bring to bear to perpetuate what they want.
GLTA
On your "on the other hand" I can only say yes, but good luck with that. The "longer term" might out-live you. I can think of how long my long slow accumulation of physical silver that started just after the Hunt Brothers (when I had liquidated) took to finally (start to) come into its truer value.
What's going on???
?? EXS not expected to generate enough drilling revenue for his company ???
You expect a court settlement with distribution of confiscated personal assets "soon" ? or is happiness defined simply in seeing justice imposed ?
We will see some more clearly soon with the next report.
I am not a fan of the PPP offer for the part of BRD they want to keep and see it as selling to them at a discount, even after taking the $CA 10 million they contribute to SpinCo into account. JMO.
Even using projected production the new tax is estimated by PPP to increase their tax expense over $100 per ounce over what is already on top of that $974 AISC. Whatever is and isn't deductible seems already taken into account in that $14 million estimate, and as far as I have yet seen is still waiting on the final implementation rules/regulations to some extent.
Through 2015 PPP has significant cash outflow, considering the note and the recent 20% purchase. Excess for cap development, explore/expand looks slim.
Of course all of above assumes gold stays where it has been held, against physical pressures, the better part of the past year. The odds that we see gold stuck at an even lower price before 2015 end is IMO not nil.
sure makes one wonder at the cost of freezing tires that hard
it will be a little surprising to see WDRP mentioning the water heater again
first eclipse of the moon for 2014 is April 15
where did you get the idea the plant WDRP is pushing as coming to them pre-paid by regional authorities uses microwaves ?
wasn't that technology for making oil?
one of the technologies discussed after this bait got put on the hook used a cryogenic process to render tire crushable
isn't WDRP aiming at a rubber crumb ?
Not even bothering to delete from FB lately.
I had assumed, if there is any reality to the tire business story, the whole would be handled as it waswith Robert . . . "Well, you aren't doing anything with it so here, take this enormous chunk of our shares and let us run with it"
don't know their balance sheet, an undistributed on account with their JV partner, but must assume there is significant sum held (captive) in country in Arenntinian funds due to the policies preventing taking profits out of country
the bigger factor is likely how deep the basket is getting for this basket case called Argentina
http://www.ft.com/cms/s/0/1515205a-84ec-11e3-8968-00144feab7de.html#axzz2rMLplSzMHigh
The main thing that prompted my post yesterday was my surprise at their estimate of the net impact of the changes to Mexican law.
I had seen many MD&A say the impact was under review, but this was the first I had run on quantifying it, and it appears to show nearly a quadrupling ! of the expense. If such hold across the industry we are likely to see some very real share price adjustments in heavily Mexico dependent miners as it is more widely digested.
the number used for balance on the note is what was stated in their report as of quarter end
the report said $14M additional (i.e. increase) tax burden
I used 110,000 as it is what was used to get the $974 of the report
As I read it, after covering the increased obligations for purchase of the 20% of Cerro their %0% usable share of free cash flow, in absence of contribution from Black Fox or increase in gold price, will be stressed thin through 2015 and likely require taking on debt to continue expansion.
IMO Black/Grey Fox would very possibly advance more rapidly under BRD and current management if the current metals price environment continues or worsens.
because the buyout offer is not $0.91/share but 0.175 share
http://www.brigusgold.com/_resources/news/20131216.pdf
yes, as it does reflect the speed of this upswing
however right now I find the overnight metals prices just as or more concerning
if you hold EXS it is all outlined in the news release
if you hold EXSFF there is nothing you can do
Its actually not complex, or at least not meant to be.
Consider what impact the share price spike for EXK back when silver was pushed briefly to almost $50. Most of that was reaction to the price of silver, not to any other fundamental of the company than its silver holdings and resources/reserves
Now, what if the very same TA was done with charts not of the share price in dollars but of the share price in silver ounces (obtained by dividing the dollar share price by the spot dollar price of silver at that time).
The chart curves would be different, the channels, etc. may be different, the forecasts easily converted by using the present spot.
Would not the impact be that some of the share price wiggle due to the volatility of silver be factored out ?
What I have not seen done but would find meaningful would be technical analysis that attempts to normalize out the changes in silver (in case of EXK) spot. Graphs in terms of ounce/share used to see the waves, fib points, moving avgs, etc.
Look at second table in section 7 of financial report for quarter ending Oct 31, 2013. Far right columns show 1,111,620 for the Q to new total of 21,185,461
Good point on sync of resource date with date for expenses. Making that clean distinction may be difficult however. Consider the need to include exploration/evaluation expenses up to the cut off date for analyses included in a resource update, but also the cost of the resource update which may likely get charged in a different quarter.
What is per ounce cost of discovery supposed to mean?
One meaning could be discovery cost as of initial time of a new amount of gold. Another could be the current cost of the currently estimated resources, a number that would increase between resource updates and (hopefully) drop back at each update. This last number would roughly show how much a company has spent per ounce for the number of ounce they could "claim" to have at any time.
The most recent financials show $21,185,461 for exploration and evaluation of TPW as of Oct 31, 2013 which does not include $2,639,500 reported as the cost of the asset to that date.
Gold resource is 493,100 ounces indicated and 370,400 inferred for underground and pit combined using the numbers for cut-off with gold at $1300/oz from the MD&A released with that financial report.
So I see that as about $43 per ounce discovery costs for indicated gold resource or about $24.50 per ounce if one wants to include inferred, which I take as questionable. These numbers would need to be increased by 12.45% if asset cost should be included, giving $48.35 and $27.55 respectively.
I do not see how a case could be made today for using the cut-off grades for the higher gold prices of the NI 43-101 instead of what is used here for $1300/oz gold with their lowered resource numbers.