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@Brendan now, if this is in an IRA, then, i'm all for what you're saying.
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@MiningBookGuy @Brendan - in that case, the average person should be in something like $SII $FNV ...honestly, juniors aren't supposed to be for 'average people'. But if we're talking 'average CEO.CA user/speculator', I DO think anyone who is serious about this needs to get in the habit of selling "when they can". @stateside's "sell half on a double" is a BETTER rule than "hold everything through the cycle", IMO, even if the latter ultimately is better for the pocketbook...because it's just too hard psychologically. BTW, nobody take this as gospel. i'm literally coming up with this out of nowhere! but it really is an interesting topic.. #SellHalfOnADouble #HoldThroughTheCycle #mbgtrends #newbies (will come back to this eventually thanks to tags!)
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@Brendan how about this: if you have losses to make up OR your trimmings happen after 1 year, I 100% agree with you.
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@MiningBookGuy @Brendan RE: https://ceo.ca/index?fd6e2d36203b - btw, i usually don't "buy back" in the same company. I plant seeds in new ones! again, @stateside has been talking about this for a while. sometimes i sell way before a double, or way after. but either way, that capital gets plowed into some 'new idea'...that part has become important to me, rather than just trying to 'buy back cheaper'
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@Brendan sure that can work out great... if something you own goes up 5x and something you're interested in gets cut in half, by shifting positions, you can now buy 10 times as many shares of the latter. do that a few times and you're John D
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@MiningBookGuy @Brendan - that's fine. I try not to make the 'taxes' something i think about too much, even if i end up being 'tax inefficient' because of it. it's more about constantly 'recycling money' looking for the few 'grand slams' for me....i personally will take MANY losses and take plenty of profits early, knowing that just a handful of companies are going to make all the difference, taxes be damned! #PowerLaw
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@MiningBookGuy @Brendan RE: https://ceo.ca/index?6040fe5ca6b5 - thank you for mentioning that! i need to get some REAL work down (ha!), but i've been meaning to share something superb related to your comment, one minute...
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@MiningBookGuy @Brendan - i wanna be #ThomasKaplan when I grow up! read this incredible section this article, copied below: http://www.worth.com/the-king-of-cats/ "But #Kaplan’s prediction [*my note- he predicted Saddam invading Kuwait] caught the attention of Israeli investor Avi Tiomkin. Kaplan advised the hedge funder on what he should buy and sell in the event of an invasion of #Kuwait. After the 1990 invasion, Tiomkin brought Kaplan on as a junior partner. Kaplan focused on currency markets, but as a sideline he began following precious metals. #Silver was trading around $3 an ounce as people shifted away from using film in cameras, and Kaplan felt it was significantly undervalued. He looked for an institutional-quality silver company that he could recommend to the hedge fund, but couldn’t find one. “Sort of as a dare, my wife said, ‘Well, if it doesn’t exist, why don’t you just create it?’” Kaplan took her advice and in 1993 secured backing from George Soros and Jack Nash to found Apex Silver. “I took all of my private savings to build the company,” Kaplan says. And then the price of silver began to rise. “Over the course of that investment, I ended up making 250 times my money and then used that to go into #platinum in #Zimbabwe and #SouthAfrica. I made about 100 times my money there. Then I went to hydrocarbons in #Texas and made about 100 times my money there.”" #HundredBaggers #mbgtrends #HowToBecomeABillionaireFAST
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@MiningBookGuy and with that i'm out of here! thanks for good discussion @Brendan @Excelsior and others
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@Brendan @MiningBookGuy that is great! i'm going to read about him later i'm very interested in those kinds of stories
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@epithermal @Brendan, GCM management totally screwed it this time. No reason for the 10:1 roll back. Extending maturity of converts just delays the inevitable. Looks like they are playing Greece's game. I agree with you, they should have bought all the shares outstanding, that could have forced conversion. Now they killed all shareholder hope. What a disaster.
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TheDailyGold @Excelsior @Brendan @stateside regarding katusa, rickards, dent, schiff, armstrong....these guys are wealthy but not because they've made other people money. Rickards has been wrong about almost everything the past few years...Dent blew up two funds....Armstrong blew up a fund...Schiff has been completely wrong yet thinks he's 100% right all the time.
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@Brendan @TheDailyGold Rickards is especially unappealing. I have no idea what he sells - maybe vault services or something. I've read a bunch of promotions that go something like: "my CIA friend (and this is a top level insider, not a rank and file spy) says that April 27 is the date you have to abandon the dollar based bank accounts, gold is absolutely going to be above 1400 by then"
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@Brendan @90bigpicture I couldn't come up with two projects with less in common than $ndm and $kat if I tried really hard. one low grade one the highest grade known... one abandoned by all majors, one backed by glencore. Not sure what you're getting at...
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@90bigpicture Thank you @brendan for proving my point unintentionally...go read the Katanga financials (or my rant from February in the mining syndicate panel).
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@Brendan yw @90bigpicture but not sure what the sense of having a point in a chat forum is if nobody knows what you're talking about
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@Vaughan @brendan, I think what he is getting at is that regardless of the glencore backing, $kat as a project just wont happen. If you scroll back to the beginning of February, @ocotilloredux mentioned how the only reason he can see glencore keeping this "toy" is for tax/writeoff/country specific income purposes. Many have suggested to stay away, however others have entered $kat for a flip/trade. Point being: when the music stops make sure $kat doesnt owe you anything.
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@Brendan most of the aussie golds are up a lot today @teevee
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@Brendan are they proposing 75% on long term capital gains and less on short term? that would be odd...
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@Vaughan No such thing @Brendan, a gain is a gain, and the cra wants its money!
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@Brendan oh. here in the US capital gains rates are only for 1 year holdings. less than one year and we pay the (higher) income tax rate on the gain
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@Brendan what's the top capital gains rate and income rate now in CA?
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@Brendan I guess it doesn't matter as much if they're close
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@Brendan so cg taxed at half the income tax rate?
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@Brendan so this 75% number being thrown around is instead of the 50% of income treatment?
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@Vaughan Correct @brendan, and we've been that high before in the past prior to multoney
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@Brendan not too bad... plus you can plow gains back into new investments and not owe anything?
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@Brendan but then the local/provincial adds a lot doesn't it?
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@Brendan @lukejackson I don't think it's going to happen, but it is really an interesting idea! pick 3 or 4 of the premier developers... it's subjective of course, but say $sbb $cnl $gsv $knt sure that's a good start for a pan American development project "cartel" . merge, hostilely if necessary. then you know theres a pretty good chance that the majors are going to have to come to you at some point in the next 5 years, and not from a position of bargaining strength
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@Brendan I don't know the regulatory and anti-trust issues that of course would get in the way... but if I were a big shot with more money I would be all over that.
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@Brendan a similar thought - I wonder what's to stop (other than clash of culture and break up clauses) a bunch of the better Nevada juniors from merging. How much would it cost to join $plg $gsv $bmg $ely $hwy together? then you have half of northern - central Nevada tied up and can just squeeze barrick and Newmont in 2020
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@Brendan all this would light a fire under the whole sector also
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@dirkdiggler you'd have a land bank in that case @Brendan - a number of marginal deposits that might have good leverage to a rising $gold price. But as far as near term development scenarios go? Shades of Vista.... $PLG $GSV $BMG $ELY $HWY
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@Brendan their stuff has to be better than vista doesn't it? and it's a land bank surrounding $abx and nem not somewhere in the middle of nowhere
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@Brendan oh you're right... didn't know that was them
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@Brendan all right so we'll stick with $sbb $cnl $knt $gsv ... if you have the capital, I can start with the paperwork...
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@Brendan nothing there I don't think
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@Brendan if we can't do that we should get all the west African mid tiers to merge
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@Excelsior @Brendan - We got that #WestAfrica mega-merger all mapped out over in the ~AUfrica panel. :-)
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@Brendan let me take a look
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@Brendan wow you have been busy for a sunday I have a lot to catch up on
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@Brendan i was just going to say $tgz + $pru would be a good start
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@Brendan wow this went above and beyond @MiningBookGuy great job, very interesting. I have been pondering a lot of this for a while. I look at more producers than explorers, so was not aware of $swa $sca although i do own $org . i haven't seen it mentioned, but $rsg.ax might be a dark horse acquirer of some of these down the road (they have become a billion dollar market cap company so their shares would be useful taking out some of the cheaper competitors) all in all i am probably most optimistic about $tgz right now (i don't follow the small explorers much so maybe if i did i would pick $swa as my top pick - who knows?) i feel right now about $tgz the way i felt a year and a half ago about $edv
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@Brendan sure anon but theyre not allowed to merge in DR
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@Brendan i think you could create your own marginal Nevada mid tier starting with say $rpm and $wkm but nothing is really compelling that i can think of $gsv very interesting but it's not cheap and it's too early to know what it's going to turn out to
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@Brendan west Africa much more exciting to me.. especially after perusing aufrica room. it's hard not to get giddy thinking of all the possibilities
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@Excelsior @Brendan - Glad you brought up $RPM and $WKM . Rye patch went from having the #Royalty with $CDE Coeur on the Rochester Mine (which is still throwing off millions to them each quarter through 2018), to developing their Lincoln hill project & acquiring strategic land all around them in #Nevada (and right next door to Coeur - ding, ding, ding), to then buying out the Florida Canyon mine (from a private Asian company) which is currently in #production and ramping up Gold production.... This will allow them to feed the Florida Canyon mine from Lincoln Hill and Wilco..... and it is like nobody cares. (?)   http://cdn.ceo.ca/1cdh0gq-Rye-Patch-Presentation-March-2017-1.pdf As for $WKM West Kirkland - I am amazed at how cheap it is for a #development stage #Gold miner moving towards production, and that hardly anyone is discussing it. http://cdn.ceo.ca/1cdh0ed-2017-03-03-WKM-Corporate-Presentation.pdf I see them both as potential #TakeOver or #TakeOut targets down the road if things keep progressing like this and the marketplace doesn't give them any value for it. Some other Mid-tier may just like to have their assets on the cheap under their umbrella. Also, if they do both get re-rated, then they may have a nice bump up during the next mining up-leg.
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@Brendan they are unloved and unfollowed for sure they just aren't going to set the world on fire. a little higher gold price and i can see some corporate action there. not a prediction though
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@Brendan yeah decent little project. like the share structure. it's just small (55000 ounces/year) they owe a lot of royalties if they produce and they only have 120 km squared concession.
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