Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
You mean there's a market maker who is shareholder friendly?
I've never met one. Nice in person? Yeah. But at work? No way.
You know. "It's only business."
Dino
It looks like buying 10,000 shares at .006 would cause the next ask price .0068 to be shown. http://www.otcmarkets.com/stock/MXSG/quote.
Those are 15 minute delayed, I think.
The problem with that, however, is the market makers don't always show their entire inventory.
Dino
I think everyone else is, too. With no explanation from the company, it allows the stockholders to get the impression that the management is incompetent. On second thought, make that the former stockholders.
Dino
http://8thaero.com/
It's his memoir, chapter and worse.
Dino
I didn't see anything that 8 didn't cover. Argonaut was only interested in a large open pit operation. A rough estimate (16 holes) indicated that it isn't likely, so they dropped out. Were their location choices unlucky? For them, maybe. For the future, who knows.
It looks like they tried in good faith. They spent 60% more than the minimum they agreed to and accepted Caesar's drill results instead of just repeating them. If the price of gold were a lot higher, they might be willing to try it anyway, but their conclusion from the assays was "Just not our style."
Dino
It was the best of prices. It was the worst of prices.
42,000 shares @ $0.005. I'd love to buy more, but I've only got $1.15 left in my IRA.
Dino
Another possibility for (poor) decision could be the new Chairman was always opposed to the deal but didn't have the power to reject it. Now that he's in charge...
Dino
"The average for the 16 holes was .392 Au ppm and 1.676 Ag ppm"
Since ppm divided by 2200 x 2000 = grams per ton and grams divided by 31.1 = troy ounces, that means that the averages are:
.392 * 22/20 = .4312 gm/ton or 0.0138649517684887 oz/ton of gold
1.676 * 22/20 = 1.8436 gm/ton or 0.0592797427652733 oz/ton of silver.
So,at US$1060/oz, what is a reasonable cut-off grade for heap leaching? Evidently Argonaut thinks that ~$800/oz isn't worth the effort or that they can renegotiate a more favorable contract.
Dino
The symbol for Argonaut has been changed so that we get news and prices for the correct stock. The question now is would we prefer to have the stock quoted as TSX.AR in Canadian dollars or as ARNGF in US Dollars?
My preference is to use the OTC symbol, but I'd like to hear from other members of this forum. Please cast your vote and I'll let admin know what the group prefers.
Dino
Probably, but I think Durk said it cost $3,000,000. Also, several years before SCOTUS ruled in their favor.
Dino
So how many YEARS do you want to work without getting paid? I think this is the first time Paul's drawn any salary from Mexus, so that makes it about 5 years (or more) for him. I think this arrangement is exceptionally reasonable.
Dino
I can't find it on the website now, but I have a copy of the
NI 43-101 TECHNICAL REPORT ON THE
EL SCORPIO PROJECT
GUADALUPE DE URES PROPERTY
SONORA, MEXICO
By
Paul A Pelke
California Registered Geologist, No. 4150
P.O. Box 34864.
Reno, Nevada 89533
September 14, 2010.
I think they are currently revising this section of the report.
17.0 MINERAL RESOURCE ESTIMATES
Mexus Gold has not performed any ore resource calculations on the El Scorpio Property.
Dino
What is it you are trying to hide?
When you place a market order, you accept whatever price your broker gets for you. Usually, it is the lowest offer - if you're buying - or the highest bid - if you're selling. However, there's no requirement for them to do that. For an over-the-counter stock, your broker's trade desk may not prefer to do business with the "best price" market maker. That's the big stink about back office fees. I've placed orders matching the bid/asked price and watched others filled ahead of me many times. A call to the broker gets a denial, but usually results in an execution shortly after I hang up. A coincidence, I'm sure.
The only "hidden" orders I've heard folks talk about are "stop loss orders". If you place one with your broker, the market makers can see it and may dip or bump the price to fill it for you and then return the price to the previous level. To avoid this, the recommendation is to write your stop loss figure on a post-it stuck to your screen, but don't tell anyone. I use a service called Tradestops that tracks my portfolio and sends me an email when a stock has hit the stop loss I've set (or accepted the one it's suggested).
Oops. I forgot about the block trading desks. That's the kind of trade you usually initiate over the phone. Say you want to sell a big block of stock, but you don't want to destroy the market. Your broker's desk traders look to cross match trades or, accumulate smaller orders. I don't really know how. I've only done it a couple of times. It is nice, though, to be able to sell or buy large amounts (read, tens of thousands or even millions of shares) without significantly affecting the market. It can't always be done, but they try hard.
Hope this, or 8's reply, answer your question.
Dino
I talked to Debbie this morning. She said PT had a severe case of cabin fever. Now that he can change altitude, he's gone for a drive. The impression I got was ANYWHERE outside! "He's not the type to sit around and do nothing."
Dino
In June of 1968 home mortgage rates, at least in NY, jumped overnight from 6% to 9%. It rattled the real estate industry...for about a month. Then business returned to normal, but at slightly lower prices.
Dino
Interesting that the definitions are radically different. Your reference defines NSR as based on POG received minus production costs. Wikipedia says that the NSR is based on the POG received minus only the transportation and refining cost, which is, I think, what the smelter actually pays them.
Both points are moot since we'll apparently be receiving a Gross Smelter Royalty or GSR.
Dino
Although the announcement sort of indicated a Gross Smelter Return and I haven't read the actual contract, my assumption is that it is probably phrased as a Net Smelter Return (NSR). That's actually the $$$ Argonaut will receive. That's a common term and arrangement in gold mining. Shouldn't be a lot of difference in the amounts.
Dino
https://en.wikipedia.org/wiki/Net_smelter_return
Net Smelter Return (NSR) is the net revenue that the owner of a mining property receives from the sale of the mine's metal/non metal products less transportation and refining costs.
I just placed an order at the asked,.047, and it executed immediately at .0448. That was on Scottrade.
Didn't show as a change. Still zero volume, .035 bid, asked .047 and last trade .0439 ?!?
Dino
We can hope.
Dino
"What's in a name? that which we call a rose
By any other name would smell as sweet;"
A bribe is a bribe whether you call it that, or greenmail or lobbying.
The unions use intimidation - when they are nice, violence when they are not - to extract what amounts to bribes from employers. Companies, such as miners, that have large investments in immovable assets are at a great disadvantage in "negotiations". The only method that works, if your pockets are deep enough, is to shut down until the union bosses are shouted down by the rank and file.
I think of Kaiser Aluminum. Henry Ford had the answer, but the US government stepped in and forced him to accept the union. Lockouts - the solution to the problem - are now illegal in the US. Can they still be used in Mexico?
Dino
Quote: "After all, isn't food one of the last things one wants to give up when times get tough?"
Yes, but Armanino's product is probably a luxury in China. For that matter, here in the States , as well. When times look like they are going to be or are tough, yoou revert to the staples.
I agree that expanded distribution is the way to go. I'm on the east coast and wonder if I'll see the products in my lifetime.
Dino
Argonaut is hit by an illegal strike. Let's hope it gets solved soon.
TORONTO, ONTARIO--(Marketwired - Oct 22, 2015) - Argonaut Gold Inc. (AR.TO) (the "Company", "Argonaut Gold" or "Argonaut") announces that mining operations at the El Castillo mine in Durango, Mexico have been halted as the result of an illegal blockade. The Company continues to operate the processing and leaching facility and to ensure that all environmental and safety commitments are met. At this time, metal production has not been impacted.
http://finance.yahoo.com/news/argonaut-gold-el-castillo-222701217.html
Dino
Argonaut has a new problem. Let's hope it gets solved soon.
TORONTO, ONTARIO--(Marketwired - Oct 22, 2015) - Argonaut Gold Inc. (AR.TO) (the "Company", "Argonaut Gold" or "Argonaut") announces that mining operations at the El Castillo mine in Durango, Mexico have been halted as the result of an illegal blockade. The Company continues to operate the processing and leaching facility and to ensure that all environmental and safety commitments are met. At this time, metal production has not been impacted.
http://finance.yahoo.com/news/argonaut-gold-el-castillo-222701217.html
Dino
Better check your math, EA.
9.99/.0001=99,900 You said per 100K shares, so
99,900*100,000= 9,990,000,000
Oops. That's three times the outstanding. Oh well, what's a couple of orders of magnitude among friends.
Dino
Sorry, it isn't a government agency.
"In the United States, the Financial Industry Regulatory Authority, Inc. (FINRA) is a private corporation that acts as a self-regulatory organization (SRO). FINRA is the successor to the National Association of Securities Dealers, Inc. (NASD) and the member regulation, enforcement and arbitration operations of the New York Stock Exchange. It is a non-governmental organization that regulates member brokerage firms and exchange markets. The government agency which acts as the ultimate regulator of the securities industry, including FINRA, is the Securities and Exchange Commission."
https://en.wikipedia.org/wiki/Financial_Industry_Regulatory_Authority
Of course, they just want you to trade. You know, "We don't care if you buy or sell, we make money."
Dino
It appears to me that no steps in the process are being skipped. Even though anatabine citrate has been taken orally by thousands of people for several years with no reported serious adverse effects, they ran a detailed, inpatient, controlled trial to satisfy even the most picayune examiner. It looks like they will continue in that vein so that, when presented to the FDA, there will be no "i"s to dot or "t"s left to cross.
This process will be measured in years, not months.
Dino
Yeah, but the market is supposed to be reflecting future value.
I guess "supposed to be" is where I went wrong.
Dino
Interesting that Argonaut has been steadily climbing for the past week or so while Mexus has been dropping. Meanwhile, as I read the JV announcement, Mexus will probably make as much or more from the JV as Argonaut.
Could it all be just POG for current production?
Dino
Given the three choices, I think that was a definite "maybe".
It also sounded like he doesn't want to get involved.
Dno
I think their calculation is based on the full amount - $25 million. Plan on worst case and hope you get lucky. It's a good management technique and I'm glad to see they're using it.
Dino
"Newco surely deserves a podium at the debate come Dec 31."
Absolutely!
Dino
Considering the money already invested in that project, not bringing it into production would bring on lots of ambulance chasers - and they'd be successful. A payback of less than 4 years aint too shabby.
If AR only had enough money to do one project or the other, I'd agree with you. But, since they seem to have enough resources, both cash and people, to do both, they should continue as planned. I think (hope) they'll speed up the Julio project when they see the preliminary drill results, but unless and until the price of gold skyrockets, there's no real hurry from their point of view.
Dino
Careful you don't get over 4.999%. You don't want to become an insider.
Dino
It also implies that Paul has decided to change the company from a gold miner to a prospect generator. That works for me.
Among other things, that transfers the problems of day-to-day operation of a mine to someone else while we just collect the money. It also eliminates the security problems of storing and shipping precious metals. They become someone else's problem.
Besides, 20% here, 20% there and first thing you know, you're talking about real money.
I like it.
Dino
I was referring to the speed. 118kph.
A poor, apparently, attempt at humor.
Dino
Maybe Paul's been tinkerin with the engine.
Dino
PT and Tom are alumnae of the school of hard knocks...or maybe this one?
"In 1923 the Colorado School of Mines Magazine picked up the exact saying and credited the words to Cox [CMCC]:
'I am a great believer in Luck. The harder I work, the more of it I seem to have.—Coleman Cox.'"
Dino
Isn't he the one that got married a little while ago?
Dino
That's the whole idea. You've got to look respectable if you're going to fool folks. Remember, you can fool some of the people all of the time...or at least long enough to accomplish your mission.
Dino
There's definitely some in this direction. Thanks for the head's up.
Dino