Value Microcaps Junior Miners

[dr_airtime]

ANV - would be careful...

...just looked at their Q3 FS for about two minutes. I would imagine this is the reason for the excessive selloff. They bled $USD 75M in cash as they had negative CFOps before working capital changes in the first 9 months of 2014 but had to fund capex and more importnantly - principal repayments on their captial leases. Current cash is only USD 5M and they have 22M of principal repayments due by December 31, 2014 (this is note 10).

They can likely fund this short term but delaying paying their suppliers (financing through AP) but there is some serious risk of diluation here on anything longer than a 2 month hold time frame.

Better to buy low-cost producer like OGC.TO, DPM.TO (Canada's MUX) or TMM.TO which are also sitting at 52 week lows. These are the most sold-off of the low AISC producers on my watch.

I bought some SSL.TO/SSL and GORO today but am going to wait to Monday to see if there is a retracement of large move today.