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@Alan @FundamentalAnalysis- cheers for that advice. Do all mining companies use that same method? Yeah these are not long term holds, just speculations.
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@FundamentalAnalysis Hi @Alan Yes its pretty much industry standard. It's an issue with open pit mines and how waste is treated for accounting purposes. Teranga I know has high stripping costs.
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@Alan @FundamentalAnalysis - Yeah I see what you're saying. So out of terranga and new gold which would you prefer? I don't usually buy producing mines as I consider them the same as cannabilising yourself, especially at these fairly low gold prices.
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@FundamentalAnalysis @Alan I have a position in teranga. Purely because of the exploration potential. Long mine life at sabdola, and the banfora developement. Plus the fact the company has a lot of cash good backer and very low debt. The company seems to not generate a tremendous amount of cashflow purely because Sabdola is a bit marginal, but once gold price moves up, it should go straight to the bottom line and we should hit the 1.4CAD region it reached back in July quite quickly. Teranga I suspect will move fast from $1250 gold upwards. Below that it will struggle..... I get what you mean by cannabilising yourself. That's why I hold some developement stories for the most part, and the optionalities like Sandspring etc......The only producers I like are essentially the royalties/streamers. I mentioned before I think a company like Sandstorm will rise as fast as the good mid tier producers during the gold run, it will generate substantial free cash flow, so everything will go to the bottom line, and it has optionality upside. During the previous bull run say from 2002 - 2011 Gold performed better then most producing companies, and that's purely down to lack of free cash flow being generated. So I think that's important if you are going for a producer as its the numbers that ultimately matters for those.
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@bullmarketmove Thanks @Jayfire yes, that quote is a good one to high light, it almost sounds too easy (i wish) :), "Be willing to take the long view on a sector. You must be willing to buy a sector while it is falling and apparently out of favour, on the basis you believe in the long term positive structural change." http://thenextbullmarketmove.tumblr.com/post/156854861915/the-next-bull-market-move-interview-daniel $GXU #TheNextBullMarketMove @FundamentalAnalysis @MiningBookGuy @Alan #uranium #RickRule
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@Alan @FundamentalAnalysis- cheers for the great comments. Agree with you on teranga. I own a small amount myself. Yeah I look at the royalty plays as more investments due to low capital costs and sandstorm is a good pick in my opinion. I was watching a video just today with Nolan Watson and Marin Katusa discussing sandstorms investment in trek mining (merging with JDL gold).
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@Alan @bullmarketmove- another good interview. $GXU is one company I was interested in but it's kind of ran away from me recently. It reminds me of #DougCasey saying 'you can't kiss all the girls'. Hopefully I'll get an opportunity. I'm still liking the #uranium industry though. Not seeing too many bargains out there currently and thinking things may be topping out again here. Any thoughts guys?
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@bullmarketmove Thanks @Alan personally I feel that we may consolidate for a few weeks, that's my hope anyway as there are some stocks that have run away from me too. However, when #Uranium gets going it seems to not pause for long.
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@Alan @bullmarketmove- I'm sure we'll have another chance to get into #uranium and plenty of the mining stocks when the next recession occurs.
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@bullmarketmove That's a great article @Alan and the last quote sums up why he's so successful and most investors aren't. “Almost every big success I’ve had experienced a 50% decline in share price before it went ten to one.” #RickRule
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@Alan #amiradnani talks about #goldmining $GOLD $BRI future https://youtu.be/MFkdgQ3Odes+
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@MiningBookGuy btw, thanks @Excelsior @alan @jayfire @bullmarketmove @fundamentalAnalysis @bernddo and anyone i missed as i scroll up for some great #mbgtrends content recently! there's just so much to respond to, and i still hope to get to a backlog of stuff in here. but i have a couple 'priority' posts to do, and some catching up in ~AUfrica. i'll try to get to all of that in the next 15 minutes, then properly respond here at a later date
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@MiningBookGuy @Alan @R2R @Jayfire @FundamentalAnalysis @hihosilver - i've had so much to say about $NGD, but held back. i'm a bagholder here, having bought an outsized amount at much higher prices. thank you all for the commentary. i have my own thoughts, some of which i will likely share soon. but immediately, i agree with with @hihosilver's most recent comment. to me, the worst situation would have been to raise the full ~$200M via equity placement at a discount. I think they might even have had difficulty raising it, and the share price would tank further. but in this situation, they IMMEDIATELY monetized a secondary asset in the El Morro stream. while @fundamentalAnalysis is correct that they are getting far less than they should, it has clearly given the share price a bounce (even with the generally positive day), and i think this REALLY helps fund the rest of the gap with a lower cost of capital (perhaps a hybrid of a streaming deal or smaller equity raise, or who knows what else). anyway, i approve of this deal, and i 'hope' Pierre Lassonde is more involved in the background than people generally realize, because he is the cornerstone of credibility for this company despite no longer being a director (i would be shocked if he is or has been selling shares at any time recently)
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@Alan @TomWallace- Yeah I feel the same way. Just read all the reports this morning. I don't think losing 13% of its value in a day is reflective of the results. But that's how we make money by understanding the difference between price relative to its value. I'll be looking to buy later today.
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@Alan Some thoughts I had on the markets this morning. I was thinking about how strong the Gold market looks considering the US market looks strong also, including the dollar. If the dollar starts to decline and markets get spooked, which it will at some point, then gold could go much higher in the near term. I'm most bullish on gold right now, however, I've been thinking about the good gains recently from the general commodities move and I'm asking myself this question, 'if my portfolio went down by 20% or more, would I be OK with that?' If not, takes some profits and go to cash and physical gold while you wait for other opportunities - that will envevitably crop up. You still won't be OK losing 20%, but you will be more OK having cash to buy some bargains. On the other side though, if you do sell and your stocks go much higher you can't beat yourself up about the 'gains you could of had'. You learn a lot about yourself by dealing with these challenging decisions we all face as speculators. I suppose the most important question to ask yourself is 'When do I buy and when do I sell? And only you can decide that.
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@bullmarketmove That's a great post @Alan At the ending of the day no newletter writers or gurus can decide for you. Only you know your situation and your temperament. I still subscribe to a couple newsletters but I use that as the starting point of more research or analysis. You have to make the decision and learn from it.
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@Onlyflaws @Alan I have most of my money in equities and currently low on cash. So, if my holdings go down, I dont have dry powder to buy the dips. I have stocks in many sectors and circulate money between them. It works for me as it lowers the risk, but also caps huge gains that being all-in gold/silver sector can provide. What I do is trim the equities on the sectors that are running and rotate the money to the laggards. This is probably very basic approach but it works for me. I always have "fear of missing out" on the rapid runs of the gold sector but I have accepted this as part of the market games.
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@Alan Thanks @bullmarketmove. Yeah, I look for people who I respect and I feel have ethical, rational and scientific principles that can help me advance in some particular area of my life. If I want that advice/info to improve myself, I gladly pay a fee that I believe to be good value. @onlyflaws - your approach is interesting. I've come across the idea before. It's not one I've used as ill only buy sectors that I believe are cheap - and all sectors are not cheap.
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@Alan @FundamentalAnalysis- great post there. I'm also invested in $SII for about 2 years now and I'm very happy. I agree with your comments. It is a great business model with low capital costs to grow the business. As commodities increase in value over the next few years, #sprott is perfectly positioned as the premier expert in this field. Plus at the helm are people like #rickrule #ericsprott.
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@FundamentalAnalysis @Alan Thanks, yh business model is solid. I've liked having both Sandstorm $SSL and Sprott $SII as the stable core in regards to precious metals exposure, and then I have my company specific positions. Which is typically mixed across optionality, distressed producers and advanced developers and/or explorers and the occasional risk/adjusted punting for fun.
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@Alan It's interesting to hear the comments on here regarding companies like $FF $GOLD $BRI and other well promoted stocks. All the attention (whether good or bad), generates further attention and promotion. What I do know is that #Keithneumeyer and #amiradnani have attracted the attention of well seasoned investors and speculators like #rickrule and #dougcasey. Ask yourself why is this is the case? Good people find good people. If they didn't, they probably wouldn't be good people. Insider buying is strong in both companies mentioned and have- what I believe- is great management and great owners. They are well known in the junior mining market. They bought up properties in a bear market for cheap and wrapped them all up in a company for us to become owners of. Now I am biased as I own both but as a speculator I'm trying to buy the 4% of people that generate the 64% of the returns. #mbgtrends
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@MiningBookGuy @Alan - good post, and i'll play a little devil's advocate even though i don't hold positions in $FF $GOLD $BRI. not trying to specifically put down these companies, but here's a possible thought for discussion: from my limited DD, I do NOT see quality deposits in these companies. yes, we could argue these are 'good people' (though that's debatable as well). but the key thing for me is that i am MUCH more likely to buy into companies that have "A-level deposits/prospectivity" and "B-level people", than the other way around. and i do think some people would say that $FF $GOLD $BRI might even be getting into the C or D level of geology...hence, #optionality can always be used as positive-spin (and it works!) i could have used many other examples for this (again, not trying to specifically knock these companies down). but using them since @alan brought it up for discussion in #mbgtrends, and they just get so, so much press (yes, they get an A+ for promotion/exposure!). people have made a lot of money with these and will likely make more. but i think the focus on "people over projects" fits into the narrative, and it's not how i (generally) like to play this game it's not this simple though. happy to clarify if anyone wants to discuss further.
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@MiningBookGuy @Alan - good post, and i'll play a little devil's advocate even though i don't hold positions in $FF $GOLD $BRI. not trying to specifically put down these companies, but here's a possible thought for discussion: from my limited DD, I do NOT see quality deposits in these companies. yes, we could argue these are 'good people' (though that's debatable as well). but the key thing for me is that i am MUCH more likely to buy into companies that have "A-level deposits/prospectivity" and "B-level people", than the other way around. and i do think some people would say that $FF $GOLD $BRI might even be getting into the C or D level of geology...hence, #optionality can always be used as positive-spin (and it works!) i could have used many other examples for this (again, not trying to specifically knock these companies down). but using them since @alan brought it up for discussion in #mbgtrends, and they just get so, so much press (yes, they get an A+ for promotion/exposure!). people have made a lot of money with these and will likely make more. but i think the focus on "people over projects" fits into the narrative, and it's not how i (generally) like to play this game it's not this simple though. happy to clarify if anyone wants to discuss further.
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@MiningBookGuy @Alan @bullmarketmove @Onlyflaws RE: https://ceo.ca/mbgtrends?abe932415d31 - great discussion here, with @Alan's question 'When do I buy and when do I sell?' being the focal point. I will have much more to say about some of my personal strategies/tactics at some point (remembering i need to scroll way up in #mbgtrends to respond to a good discussion started by @JT). But simply put, I'm always trying to 'buy cheap', and I have no qualms 'being first' into a stock (i think this is something a lot of other people would hesitate on). if a lot of people are talking about a stock BEFORE i've researched or bought it, that's actually a red flag for me. as for selling, I tend to agree with @onlyflaws, selling off some that have run and buying into laggards. but we need to be VERY CAREFUL with this. i've kicked myself many times for selling too early (sometimes it's prudent, but the worst is when a company gets acquired for a big premium when you sell a few months early). and sometimes laggards are truly meant to be laggards! but anyway, this is a good discussion and glad to have just checked up on it :) #WhenDoIBuyAndWhenDoISell
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@Alan @miningbookguy- very good points on your response. I agree that other companies out there will likely have better deposits and even better locations etc. But from observing experienced speculators talking about finding the best people, even if the property is not so good, I feel this is the best route. I'll tell you how it goes in 5 years and maybe you can tell me how your method goes? I agree the quality of the people is debatable as we will all never all agree on what constitutes 'good' or 'quality' people.
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@Alan Great interview with #peterspina talking about how to cope with #volitility in #juniorgold https://youtu.be/D2TomWZS6O8+
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@Alan Just read this in #automaticwealth by #markford - 'Bill Gates makes more money every time he takes a nap than most Americans make in 10 years'. That's some serious wealth creation that man has created.
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@BrianBitcoinBull @Alan @miningbookguy Great points with regards to $FF and $BRI $GOLD they are definitely optionality plays. Most of the projects have had quite a bit of money spent on them during the previous bull market and have been largely de-risked. I think there is something to be said for individuals who have a proven track record. As well as accumulating assets in relatively good jurisdictions. Some people are into much more risk with exploration in somewhat questionable jurisdictions.I see both of these companies trying to replicate what Lumina Copper and Silver Standard did in previous bear markets. I do own some $FF based on the jurisdiction and optionality.
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@bullmarketmove @BrianBitcoinBull I completely agree with going with people who have a proven track record. Usually the best people are the best for a reason. @MiningBookGuy @Alan @Excelsior @Jayfire
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@bullmarketmove Also, just to let everyone know, I have a new interview with #RickRule coming out in the next few days. The plug is below and the previous interviews can also be found in #articles #uranium $GXU @BrianBitcoinBull @MiningBookGuy @Alan @Excelsior @Jayfire @FundamentalAnalysis @Tommy #TheNextBullMarketMove I was extremely lucky to interview Rick Rule while he was in London this week. We talked about the recent move in the Uranium juniors, what to do when a trade goes against you, and the fourfold gain that Goviex Uranium has currently experienced. The interview will be released in the next few days. For previous interviews with Rick Rule click on the links below: http://thenextbullmarketmove.tumblr.com/post/155429308255/the-next-bull-market-move-interview-rick-rule http://thenextbullmarketmove.tumblr.com/post/153984864830/the-next-bull-market-move-interview-rick-rule www.thenextbullmarketmove.tumblr.com
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@Alan $NDM has just lost 40% of its value. Been waiting to buy for a while. It's still not as cheap as 0.80 when I first looked at it though.
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@FundamentalAnalysis @Alan I would still be careful.....Katusa, casey and all the pumpers got in much earliar.....playing a dangerous game even at these prices. I'm not interested personally, unless it becomes so deep value, that a dead cat bounce is inevitable.....from those who can see its potential.
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@Alan Great thoughts from @brianbicoinbull
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@Vaughan It would have to correct below $2 before i would think about placing a bet of ndm @Alan. Not saying you wouldnt make a fortune, as this thing could go much much higher, but it is still pretty expensive for what it is. full disclosure, biught ndm .40 and sold before the election (doh) for 200% gain, leaving 800% on the table, so i have been begrudgingly watching ndm as well.
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Anonymous $NDM could be this cycle's Bre-X
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@Alan @FundamentalAnalysis @Vaughan - Yeah, I didn't buy any yet. I would need to get it under 2. Although, if I'd of bought earlier, I could of made away with a quick 10% gain by now.
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@MiningBookGuy #TheMoneyGame follow-up question: So who HAS read this one?? I've talked to a lot of people familiar with 'finance'...very, very few have any awareness of it. I'm very interested if anyone has read it and where they rank it on their own lists. @bullmarketmove @alan @ggallant -- you guys will like this one if you haven't read it yet! :) #mbgtrends
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@bullmarketmove @MiningBookGuy Just watched your great new vid, https://www.youtube.com/watch?v=mJHrxHLZw-o+ and ordered my copy of #TheMoneyGame :) sounds really good @Alan @Jayfire @Excelsior @FundamentalAnalysis and thanks for your comments about my previous #RickRule interviews. I hope you like the new one....coming soon!
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@Alan @miningbookguy- I actually have this one on my bookshelf. Picked it up at a 2nd hand bookshop for 50p a few months back. Thanks for the video Nick, I'll be reading asap.
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@Alan New interview with $OR https://youtu.be/qQ6xLpDJSTU+
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@bullmarketmove Hi everyone, my interview with #RickRule is now live on my blog and as an article here on CEO.ca. The link is below and here is the intro: I was extremely lucky to interview Rick Rule while he was in London this week. We talked about the recent move in the Uranium juniors, what to do when a trade goes against you, and the fourfold gain that Goviex Uranium has currently experienced. Enjoy!  #uranium @MiningBookGuy @Jayfire @Tommy $GXU @Alan @bullmarketmove/the-next-bull-market-move-interview-from-london-rick-rule-president-and-ceo-of-sprott-us-holdings-inc #TheNextBullMarketMove http://thenextbullmarketmove.tumblr.com/post/157306963720/the-next-bull-market-move-interview-rick-rule
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@Alan @bullmarketmove- fantastic interview. Again, you ask some great questions which gets to the main principles of #rickrule investment strategy and his mindset in regards to dealing with wins and losses. How did you meet him? Are you from London yourself? A quote of note: 'not seeing very much in the market to buy, which is a classic sell signal'.
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@bullmarketmove Thanks for your kind words @Alan #RickRule always has something interesting to say :) I'm just outside london, so I managed to catch him while he was travelling through.
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@MiningBookGuy thanks @bullmarketmove @alan on #TheMoneyGame, and really hope you enjoy! It would be a fun book to discuss. You are the only 2 that have responded to me on this so far. For being a true 'best-seller' in the late-1960s (and a classic 'must-read' as well), it's incredible how forgotten this book is!
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@bullmarketmove Many thanks @MiningBookGuy @Alan really appreciate the nice feedback. I'm not sure if I'm number one :) but as long as I can keep learning from #RickRule then it's all good. My copy of #TheMoneyGame is arriving soon so we will definitely have a chat about it once I'm done. I still need to watch your feature length vid on those Africa stocks.https://m.youtube.com/watch?v=RaANyHF1Yd8 #TheNextBullMarketMove
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@Alan Good article that talks about investor psychology and gauging market sentiment that I spotted on @Goldfinger channel. Here is an insert from Seth Klarman “Investing is the intersection of economics and psychology. . . . The economics — the valuation of the business — is not that hard. The psychology — how much do you buy, do you buy it at this price, do you wait for a lower price, what do you do when it looks like the world might end — those things are harder. Knowing whether you stand there, buy more, or something legitimately has gone wrong and you need to sell, those are harder things. That you learn with experience.” https://blogs.cfainstitute.org/investor/2017/02/20/gauging-market-sentiment-selling-greed-is-harder-than-buying-fear/
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