I like long term buy and hold. I feel 2012 created such a washout it could be the 2008 in the mining world. 4 years ago I bought a lot of OGC.to at around 40-50c. 4 years later I look back it was still a great trade. I hope I can repeat it in PTQ.

PTQ tried to raise money for most of last year, that could have scared a lot of investors. Now they successfully raised the loan without issuing warrants or shares. I hope the doubt will be gone when the loan is closed.

I invested a Nigerian company with great success in the past 3 years, so Panama is much better! Last year when I was visiting CGA.to in the Philippines, I noticed the mountains of low grade ore piling there. The management told me they hope they can heap leach them and were watch PTQ on-off heap leach closely. Because they are in very similar tropical climate and have similar type of ore as PTQ. PTQ is expanding their leach pad, they must had some successes. When the gold finally come out of the leach pad, that will be huge addition to their current production. All the leads pointing to successes in the next 1-2 years. Plus Fist Quantum is taking over Inmet, the takeover play of PTQ could be back in.

PTQ.to I don't know you guys care, but I do. PTQ didn't issue a single share in the recent down turn while most juniors did. PTQ's balance sheet could be fixed easily if they double their share count, issue whole bunch of shares/warrants and I am sure Bay Street would love PTQ with very favorable reports. I respect the management stand firm against these bankers. Because as soon as they say "yes", they will text their friends and family and short the stock all the way to hell. The very reason that management didn't do it was because they are one of the largest shareholders. Everyday the bankers brought juniors management to a fancy restaurant and pitch share raising ideas. Only a few could stand firm against them and PTQ was one of the few good guys. They even didn't issue a single warrant with the last loan raise which Inmet publicly announced they would have to. Last PP was at 1 dollar and PTQ should be back there easily once the market turns. It earned 10c in the past 12 month with about half of the current production.

There are still hopes for MJX.v, but probably a different strategy in this market. Years ago when EMXX options the Haiti claims to Newmont, some big EMXX investors were upset because they believed Newmont got their crown jewel. But look back many years later and compare to MJX, we all agree EMXX made the right decision. Maybe a better way is to let Newmont consolidate the Haiti properties and because a royalty holder instead of diluting shareholders? Of course they can't get as good deal as EMXX but I have confidence in Dan since he bought many shares with his own money. Time will tell.
If you look at the drill results, the similar Russia one that Freeport was so excited about is not that different and it is in Russia! The property got to have a lot of value.

I just want to add it has been a very difficult year for mining sector. One long time analyst told me recently that it is worse than the year after Bre-X scandal. Many mining people were laid off, many funds were down big time if not closing the doors.
I wouldn't buy these calls myself. I have many stocks can do very well as long as gold and silver staying where they are now. However, I am a little afraid of tax selling this year. You look at the funds like Sprott that are 97, 98, 99% invested, many in illiquid juniors. They are all down big time so far this year. What if they have a lot of redemptions at the end of the year? I am keeping my powder dry and looking for bargains, hopefully soon!
Finally not all of the junior management are scams. There are a few hardworking people that have a lot of skins in the game. That's why I love research and invest in them, even at the losing end. But at least you have an honest shot of successes.

Thank you for all of your kinds words. This has been a very tough year for mining for sure. Many well known analysts and fund managers were down big time. Some even took matter to their own hands, fired the management team and started to run the companies themselves(for zero salaries). One manager told me that he had to cancel 12 business credit cards after firing the management team to stop the bleeding.

This year has been particular hard for juniors as majors like Barrick and Goldcorp had one screw-up after another. They were too busy to fix their own issues than buying any juniors. Some junior management took home huge pay and grand themselves big options didn't help either. Many people, including some analysts and fund managers came to me recently and told me that they regretting not taking my advice to invest in energy companies like MMT.v and POE.v at the end of 2011. I have been underweighting mining sector for most of the year. My top two holdings that I told people many times are MMT.v and POE.v. Both did extremely well this year. If you consider the 75c dividend, my cost bases of POE is close to 1 dollar and it actually performed better than MMT in 2012, which is a very difficult year.

As for newsletter it actually had detrimental impacts to my trading. It used to take me weeks to load up a big position but they were cut short to a few days. I was forced to take longer term positions instead of shorter term trades. Some people think they have a portfolio management service for a few hundred dollars(which Wall Street charges millions) and asked many crazy questions. To a point I actually discussed with my partner of stopping the newsletter this year. At the end we reached a compromise and we stopped accepting new subscribers.

The most gains I got from the newsletter is connecting to good managers and institutions. I gained a lot of respects from them during the past years by my picks and my sense of market directions. SRPT is a perfect example, it actually came from an analyst who made good money in MMT/POE and he returned me a favor. I made 15 bagger and more in 4 weeks on its options, probably my biggest gain of the year. Followed by platinum future after the South African strike. That's a 5-10 bagger thanks to low margin requirement of platinum future. Followed by buying GDX/SLW call options using MMT dividend and sell on QE3 news. That's another 3-4 baggers. These are very profitable trades and the best part happened in 3-4 weeks. MMT and POE were much slower though I have much bigger positions.


Mining will be back I firmly believe. I made most of my money in mining in 2008 and 2009. A cold winter will kill a lot of roaches. There will be a lot of good companies to buy on the cheap. I really believe in my picks, even they were losers. MJX.v for example, when do you see management bought some many shares through PP and the open market? Their results were pretty good, just the market didn't recognize it, timing was wrong and they need money to continue drilling. Had they started with the gold zone as I suggested we could have different outcome. Well, I lost so much money in it that I could have flied a private jet to the north pole then to Haiti and back from the south pole. But at least the manage probably lost more, unlike many other management who are raping shareholders with big salary and options. They had a chance, a good chance to be successful sadly they missed it so far. I probably will do it again in the future and have a big winner one day.

Do you seriously believe these BS? Have some compassion for human lives! What if you are parenting one of these sick boys?

I started to buy SRPT at around 8 and bought a boat load of stocks and options around 10 when the news started to break out on the treatment results over the internet. I sold most of call options for 15+ bagger for quick profits in two months and still kept some longer term options as well as some stocks.

I think these people are wasting their time talking down SRPT, they are barking at the wrong tree. They are probably shorting the stocks, that's fine. News will come out in a few months.

Consider these,

There is no treatment for DMD, every year ~100 boys will die in the US, same amount will lose the ability to walk and then hold a cup of water.

New law was signed in July that specifically instruct FDA to give fast track approval to this type of medical advance.

The treatment has no side effect what-so-ever, unlike GSK drug. GSK dose was limited to 6mg/kg due to toxicity but SRPT dose was 50mg/kg and can be higher.

The most likely outcome I would speculate is the FDA would approve it while continuing phase 3 trial. Then the stock has much more upside left. Again, it is only my opinion.

It is unfortunately that I traded it out for PEC.v. I thought PEC had more upside in % and SRPT results supposed to come out in mid Oct, but they moved ahead of the schedule due to the spectacular results. It was hard to time it. But I made a killing in my person accounts, so I am not complaining.

Showed up in my Fidelity foreign trade account, not in Fidelity IRAs yet.

Showed up in my TD and IB, still waiting for Fidelity.

Toooooooooooooooooooooooo low!

Damn, stupid Inmet. Why did you buy PTQ in between PSL21 and 22? I had PTQ as double down position in PSL21 but nothing happened! I plan to put PTQ in PSL22 too.

Congratulations to KIK, you did it again. I thought my main opponents were resource players this time and it was very wrong! I wish I had played less conservatively since I had some huge winners recently. Never count the KING out!

Next Tuesday ex dividend FYI.

SSK, Thanks for all of your hardwork. Next week POE.v is going to pay 75c dividend. It is going to be counted, right? I definitely need it!

Saw the divs in my fidelity accounts too. Exchange rate is the same, 0.9949. There must be a common process to take care of the foreign exchange, otherwise TD and Fidelity will likely charge 1% for exchange fee.

Mart dividend hit every account I have and manage in TD and IB. IB is in Canadian, TD they converted to USD. I checked the conversion rate they give is 0.9949, which is very close to current exchange rate of 0.9946.
No 15% withholding in my IRA accounts, sweet.
Still waiting for Fidelity accounts.

MSEH really too small for me. I have too many small stocks to follow closely. I want to be in position to put a million dollar into a stock at given time.

Tell me about it! I went through my POE calculation almost every night in the past a few weeks.
But I am glad about the end results. The recent move should have got rid all the weak hands and we will move forward with better shareholder base. Remember, even they have another discovery in Thailand, POE doesn't need to sell the old assets. They can easily self-fund it. ONLY when POE needs to develop the new Indonesia (discovery?) that the new money is needed. They are looking for 1 billion+ BOE in Indonesia. Management must have seen/known something. Take a look at OYL.v, they have 500 million market cap before the they even drill the first well! They are looking for 1 billion barrel too. 500 million would translate to 9 dollar for POE. I may be dreaming but I am hopeful.

Thanks. I have been accumulating POE.v since the last big sell off. Tried to put in every penny I can from under my couch so I could increase my position. Glad it finally paid off. Frankly I thought POE would never see 2 dollar again but it was under 2 dollar last week, unbelievable.

Now it is very interesting going forward. Jeff must have known something from his coming two high impact wells, otherwise he wouldn't have sold his old Thailand assets. POE is still trading below cash, even with today's jump.

Just DD yesterday! I hope KIK will have a little competition this time.
http://investorshub.advfn.com/boards/read_msg.aspx?message_id=75895630

POE.v: "It is expected that net proceeds after costs and income tax will be approximately USD $162 million. "

Great points, Bobwins! I read through the Rule article a few times and there are two topics in his interview.

1. The banking system. It seems to me that there are no difference between JPM and AIG per say. They are all trying to make a leveraged bet that they don't understand. If they win, the traders and management will get huge bonuses. If they lose, the taxpayers will pick up the tab. What a wonderful system! It really didn't change much from where we are now vs pre 2008. Just ask Dimon how much money they made on the same trades by the same people last year and how much bonuses were paid out. The system has to change! Banks have to become the old fashion banks again, take deposit, put into treasure bond and loan money. Nothing else. If Mr Dimon wants to run his bank like a hedge fund, he are welcome to do as long as it is his own or private money. No public money should be at risks.


2. As for juniors, they are greatly depressed now. I agree many if not most will not survive the next 6-12 months. However, I do believe there are tons of opportunities for small investors like us. The TSXV is on fire sale, there will be great opportunities if you can pick the right stocks. MMT.v is an excellent example. It started with mostly individual investors like us, now institutions want in, but at much higher price. There are many "mini Mart" out there waiting for us to discover.

Wish you had a wonderful B-Day, Bobwins. You are a great friend and a great resource. Enjoy your SS checks, remember it is a luxury that many of our younger folks will not have the same opportunity.

MJX.v: Great assets, strong management, heavy insider purchases. The stock was still cut in half recently. Well, one day it will shine. More drilling results coming.

AIA.v, The company plans to raise 8 million by issues 32 million shares, dilute existing shareholder by 60+%, to get into production. A little bit "aggressive" in the current market, don't you think?

Wow, you waited for two years but can't wait for another two weeks to see the "token dividend" is? I would.

Thank you all for your kind words. Quite a few shareholders thanked me at the HiAlpha conference as well. Frankly, by far MMT.v is not my best pick. 600% in two year is way too long, probably due to the fear of Nigeria. It is just way too cheap for me to sell, even today. I'd prefer IAE.to two years ago, for example, quadrupled in a few months. My best winner is probably NG, 6 folded in 3 days in the crazy December of 2008. Then I had SMC, Central Sun, 8 folded in a few months. Before 2008, I had my big copper plays(TGB, CS.to and QUA.to), zinc plays(HBM.to), nickle plays(LIM.to RNO) and moly plays, I also made a killing in the pulp like TMB.to two years ago as well. Even my old sulphuric acid play CHE.UN.to is better than MMT because it was marginable and was paying nice dividends.(MMT will likely be the same situation soon) I also had quite a few failures, like Apollo gold. But these big winners helped me greatly in the past decade.
The best part of these stocks is that they are mostly very liquid. I have to invest in liquid plays as my portfolio has grown very big and sometimes it creates problems for me to trade. It is a nice problem to have though.
If you guys like energy plays outside Nigeria, you should really take a close look at POE.v. Unbelievable value here, unbelievable.

First of all, I am delighted to see you got on board on MMT.v. This means the mainstream investors started to warm up to MMT. I also want to congratulate you on your MMT purchase. You bought it at good time and your wise purchase(s) should generate good returns for years to come.

I don't intend to donate half of my profits in MMT, that will be a huge check that upsets my wife. As for ethics in investing, I would likely to move my capitals to other companies that improve poor lives of many developing countries. Frankly, I care more about people surrounding me. In the northeast, most of the refineries were shut down due to the lack of light crude. (Delta just bought an idle one penny on the dollar). Mart will likely be pumping over 50K bpd in the next two years. That's about 1/10th of world spare capacity and could drop our gas price by a few pennies. In addition, it will be light sweet and help our local economy in the Northeast(Even I don't like the smell on Jersey turnpike).

Now look at these people instead.
http://fryingpannews.org/2012/04/16/harold-meyerson-economic-recovery-for-whom/unemployment-line/

Nigeria is a terrible place where Muslims and Christians are killing each other everyday. No question about that. I am just sick and tired about hearing the same arguments over and over again in the past a few years.

MMT.v is about a great oil find. The greatest oil discovery in the past decade in the world is the Petrobas oil discovery offshore Brazil, 1 billion barrels. If you go to Petrobas website and compare their wells with our Mart wells, you will find they are comparable. Mart wells have no declines for years while most wells in North American drop 90% in the first year. If Mart oil find is in the US we should have 10 dollar stock price already. MMT has been extremely cheap because of the "Nigeria Discount" and we saw the discount is getting a little less lately.

No actually a white guy named "Walmart" got his head chopped off by some black muslim in Nigeria. His head was gone and only his body "mart" left. That's how Mart was created.

I heard same arguments over and over again in the past two years while Mart up ~600%. Most people couldn't even point out where Nigeria is on the map. That's how ignorant American investors are. LOL.

MJX.v has seen persistent insider purchases like no other juniors. Too many junior insiders are looking for "free chicken" to milk the investors these days. MJX management are very prudent people and they put a lot of their own money in the recent PP as well as earlier PP. They must be feeling the pain more because they own more shares than most of us.
As I have been researching a lot of miners lately, the pain in the sector is unreal. It is really like 2008, just like the Holmes article. I talked to a lot of well known people in the mining world, almost everyone is very depressed. I am not as smart as Bobwins who sold out most of the miners, but I was lucky to overweight energy in the past a few months and booked a lot of profits lately. I have a lot of dry powder but am wondering where is the bottom. Maybe they will get cheaper in the summer. But in the back of my mind, I feel the M&A got to heat up soon because gold silver prices are very high and producers are minting money. Maybe a big takeover like the Orezone in December 2008 will change the sentiments completely. Then we will have a gold rush like the Holmes article.
http://www.kitco.com/ind/Holmes/20120417.html

Most of the gold stocks are sold off hard lately. Actually it is below the low of last year. That creates good buying opportunities I believe.
http://www.kitco.com/ind/Holmes/20120417.html

Anyone knows this wolf?
http://mobile.bloomberg.com/news/2012-04-03/england-challenges-china-by-reviving-strategic-mine-commodities.html?cmpid=yhoo

She didn't know the famous VMC where our guru Bobwins has been buying and molding Mart for the past two years! Maybe you can get her to join us one day. She is so cute and sweet and smart, would be a good addition to our club?

Nice to see Mart get more exposure. DIVIDENDS are coming!
She also likes NZ.v, which is another holding of mine...

BBC news today: "egg prices are set to rise dramatically after an EU ban on battery hen cages came into force. "

http://www.bbc.co.uk/news/business-17336478

The current egg crisis in EU.

Egg prices are sky rocketing just before the traditional holiday of Easter. Thanks to the new Chicken Happiness Law effected Jan 1, 2012.

Bulgaria egg price "almost doubled in a few days" and EU egg whole sale price "nearly quadrupled over the past week". So far US egg price hasn't moved, but could start moving soon as EU changed from egg exporter to importer.

http://www.mail.com/int/news/europe/1118326-bulgarians-face-skyrocketing-egg-prices.html

http://www.triplepundit.com/2012/03/europes-woes-free-range-eggs/

My egg play is CALM. CALM produced 820 million dozen eggs in 2011. Every 10c/dozen price increase will translate into 82 million in pre-tax profits, about 3.4 dollar per share. If the egg price doubles like EU, we are looking at 40-50 dollar in pretax profits in a year(quadruple even better!) CALM will pay at least 1/3 of profit in dividends. CALM is heavily shorted, I don't know what the short will do, could generate more upside. Frankly, I think if US egg price rises about 10c CALM would more than double its earning, thus the dividend. The short case could be over.
In the last egg crisis of 2003, CALM 10 folded.

The current egg crisis in EU.

Egg prices are sky rocketing just before the traditional holiday of Easter. Thanks to the new Chicken Happiness Law effected Jan 1, 2012.

Bulgaria egg price "almost doubled in a few days" and EU egg whole sale price "nearly quadrupled over the past week". So far US egg price hasn't moved, but could start moving soon as EU changed from egg exporter to importer.

http://www.mail.com/int/news/europe/1118326-bulgarians-face-skyrocketing-egg-prices.html

http://www.triplepundit.com/2012/03/europes-woes-free-range-eggs/

My egg play is CALM. CALM produced 820 million dozen eggs in 2011. Every 10c/dozen price increase will translate into 82 million in pre-tax profits, about 3.4 dollar per share. If the egg price doubles like EU, we are looking at 40-50 dollar in pretax profits in a year(quadruple even better!) CALM will pay at least 1/3 of profit in dividends. CALM is heavily shorted, I don't know what the short will do, could generate more upside. Frankly, I think if US egg price rises about 10c CALM would more than double its earning, thus the dividend. The short case could be over.
In the last egg crisis of 2003, CALM 10 folded.

Remember John Wright just did the second deal on PBN.to. He had done one deal on PBG.to and wiped out the discount of PBG. What if he does another deal on PBG? Remember PMG.to?
I bought a lot PBG.to when it was trading 2 dollar below PBN. Now they are even, I basically got 2 year worth of dividend in two months. I wouldn't take dividend as the only consideration, while valuation is the key. I am evenly weighted on PBG and PBN and may add on this news depend on the discount/premium.

It was drilled by UN many years ago as part of the program to help Haiti. Historical results were in the 43-101 on mjx website.
No time for swimming. A lot of sweat hiking the mountain though.

The report is called resource stock update. They just started to cover mjx.v.
20 million oz is the wild guess. We will know more in the follow up drilling. Their next hole is on the other side of mountain, if they find more, we will be talking a much bigger number. Historically they were only looking for copper, only a few holes were tested for gold and no silver were tested. We know for a fact that DR on the same island hosts one of the world greatest gold mines with a lot of gold, copper and silver. MJX could be similar. I have been there and saw it with my own eyes.
A purely speculation, but not a pump and dump. Newmont next door is very close to sign the mining deal with Haiti government soon. Stay tuned.