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@DJS I bought at $1.16 (as a post election "Trump Bump" play), held as it shot higher, sold 1/5 at $4.35 (obviously now wishing I sold more but didn't yet think it was topped out and didn't think there was a real "short and distort" risk) and then sold the rest around $3 as by then it was clearly in a tailspin. Won't be buying again anytime soon. $NDM
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@DJS 12% under market ($0.75) with a full warrant at $1.00. Strong projects don't need to even consider such significant dilution in the current market, so this is either lazy / self-serving management or a bit of an indictment of the project by the market. Since the financing is non-brokered, IMO it's likely the former.
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@DJS Feel for you @Cat-.-Food. I think this is a better project than most -- the rocks / locals / market are a bit of a complex mix but they're not the issue here. The issue is management. Yet another reminder for all of us to concentrate on only the best management teams. $KNT
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@DJS @bslusarchuk Any comments in light of these highly dilutive financing terms which many feel seriously screw your current retail investors, and the reaction of those of us who have posted above (which I would suggest is likely an accurate representation of the reaction across most of your retail base)? $KNT
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@DJS @KIMO Sorry, I couldn't make much sense out of your post except that you're worried that Essel will play hardball. Maybe, but right now all that's supporting $SMB's share price is hope and speculation that they will find an large, economic deposit, and if they do $SMB will be multiples of its current price regardless of what Essel does or doesn't do. Don't worry about papa grizzly eating the cubs until they're actually born...
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@DJS I am not familiar with Kazatomprom specifically but do have a fair amount of experience working with other large industries in Kazakhstan. For what it's worth, @ocotilloredux's notes above resonate with me as being very consistent with how I have experienced them generally.
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@DJS @EricTheActor I won't try to speak for @ocotilloredux who needs no help here, but building on your O&G comparison (which is my industry), I think what he's saying is that there is a lot of uranium already "drilled and shut in behind pipe" in Kazakstan, which they can deliver to the marketplace on a moment's notice by "turning a valve". So be careful of the head fake the Kazatomprom "10% reduction" may have given to the market and the overhang effect it may have on the timing for a sustained U price recovery. $NXE
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from #nxe,
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@DJS Unlike SH, this is a highbrow site, @yumyum. All informative and otherwise helpful input on $NXE or #uranium is more than welcomed here, but you won't get many takers on this board to "discuss" FCU or SH. My two cents: FCU's performance speaks for itself and some people would rather hate on others (to make themselves feel better by comparison) than to actually move forward positively themselves.
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@DJS Can anyone quickly recall how many shares Li "Ka-Ching!"'s bonds are convertible into?
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@SASKEXPRESS @DJS. USD$60 million divided by USD$2.33 = 25.75 million shares.
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@DJS @SASKEXPRESS Thanks!
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@DJS @yumyum I suspect there might be some nervousness around the pending budget on Wednesday and possible changes to the capital gains rate. A lot of people holding $NXE right now are sitting on some sizeable gains in some pretty large positions in their portfolios.
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@DJS I think the combination of $CGT holding a minority share (45%) in Montagne D'Or, a low IRR compared to other projects with a FS, Eastside still being pretty early stage and the fact that NordGold seems to have a history of playing a bit hardball on other "obvious" takeouts has left some people (myself included) not sure of what to do with $CGT. Today's selloff may just be money going in search of simpler stories. Personally, I love the people and the potential, and $CGT was a no-brainer when I bought it a while ago but it isn't anymore.
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from #cgt,
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@DJS Been holding $ADZ for months now waiting for it to get this type of traction. Had to suppress my inner ADD to keep from selling it when I was short on cash and tempted by other goodies but glad I did. Looking good!
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@DJS @CautiousNow If you're interested in $MOD, you might want to check out Metal Tiger, $MTR.L, which has a 30% interest on the same property but arguably a better share structure (recognizing that these are both ASX companies). I have bought a bit of each within the past couple of weeks -- $MOD through TD (which turned out to be both painful and expensive) and $MTR.L through my full service account at Haywood (which turned out to be much less expensive and quite painless). Lesson learned on how to buy on the AIM or ASX.
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@DJS Thanks@mountains_of_glory. Long $MARL and thinking hard of adding but will read $ASR page first. May revert with a question or two if that's OK.
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@DJS Im quite surprised too. Yesterday was absolutely huge. Buying at this price today is like if you could have bought last week in the $2.50 range. Just bought a bunch more. $IVN
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@DJS Sold the remaining 70% or so on Monday at $3.50 that I had after recovering my initial capital a year ago from various purchases that had an ACB around $0.50. My timing on Monday's sale was just more luck than anything -- I sold lots of positions on Monday where I had large gains in taxable accounts as extra conservatism before Trudeau does his thing in a few hours. Just bought back a swack at $3.07. $NXE
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@DJS I'm not a technical type and my guesstimate was 448 Mlbs, so I was also way off (just not as much as most). As I look back with the benefit of hindsight, the clues were there for anyone who was reading closely between the lines, such as most of the RE2 drilling being infill to move lbs from inferred to indicated, etc. Either way, it's still a monster and the grades are killer (pun intended), so FWIW I'm very confident that anyone under water right now will find that to be a very temporary situation. $NXE
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@DJS @lolrenzo Agree, that is a huge reduction in unemployment and I hope it happens. But $CGT will have to drop significantly from its current market cap to entice me to move money back into it and away from other opportunities where even I can tell that the IRR that will come out of their FS's (when they happen -- some soon, some down the road) will be well north of 20%. Just my 2 cents.
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from #cgt,
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@DJS Agree @speculator. Most people are very simple-minded and don't read past the first number in the headline. IMO, $NXE is now back at a buying opportunity level, and I have walked that talk by my own repurchases this morning. $NXE
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@speculator @DJS 👍👍👍 i thought there was a good chance of a hammer yesterday, and we are rejecting lower prices today ... so i think your assesment is on point today. I believe there will be a coming catylist as i posted earlier ... liegh always has an ace up his sleave at simalar times every year
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@CautiousNow @djS @Dunite Thanks for getting back to me.
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lolrenzo @DJS as you wish but you might not see the bottom youre looking for since we're supposed to hear Nordgold before the end of March regarding the next steps...
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from #cgt,
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@DJS Yes, it was RR who said it. And not to pile on @speculator, but RR's quote actually had an extra "much" in it if I recall correctly ("...after the sell-off it will go much, much higher."). Could be wrong though -- I got a good night's sleep but that doesn't stop me from being wrong fairly often... :)
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@B1984 thank you @treb @Benedict for taking the time to answer my question... @DJS sorry for the simple minded question but I was legitimately curious... and I don't think 600 mlbs @ 2% is the same as 300 @ 6.88% at all... High Grade matters and obviously NXE is a world class deposit and has plenty of that
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@DJS Parliamentary scuffle right now around the Budget. The Liberals didn't release it to the opposition parties at the same time as they did to their own party members, apparently. Opposition parties are up in arms.
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@DJS Some Libs are apparently tweeting pictures of the Opposition parties standing and clapping...
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@DJS Do you know that for a fact, @tommy, or is that just you restating your (and our) wish?
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@tommy Fact @djS dodged a bullet!
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@DJS Awesome! Can you share your "advance" copy? Looks like you got it before the Opposition parties did! LOL!
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@DJS @Allan I was one of those poor suckers. Except that I sold on Monday and bought them all back today, since it's difficult to make many gains in a few hours that could be subject to the higher rate. Made $40K in the exchange, so perhaps not so much of a sucker after all.
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@DJS No problem at all, @B1984, and definitely no need to apologize to me or anyone else. I wasn't thinking of your question at all or anyone's in particular when I made the comment re: most investors being simple-minded. In fact, I didn't see your question as being that. My comment was more general and in reaction to @speculator's comment about people focusing on one number or fact to the exclusion of others, which I think is valid as a general observation. $NXE
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@DJS @Jayfire I will definitely watch this when I have the time later tonight or tomorrow, but even without having watched it yet I can assure you that it was when I first bought it at $1.16 back in July. And people can call this pumping if they want, but after yesterday's 3.8 km step out hole I would say that it is once again back in "no brainer" status. DYODD. $IVN
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from #ivn,
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@Jayfire @DJS This story $IVN keeps getting better and better... It's definitely evolved into one of those "just set it and forget it" stocks that should/will do well in any commodities type of environment... The assets are just that darn good... I bought back in recently and am trying not to overthink things like I usually do to my own detriment. Just buy and hold. #SoSimple
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@DJS @Dunite I'm pretty sure that $IVN has about 775M shares currently issued and outstanding; not sure what its fully diluted number is.
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from #mod.ax,
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@DJS Apologies for this question if it's well known to those in the hard rock mining world. My background is in O&G, where I draw most of my experience and analogues from when assessing mining-related questions. Is it possible to stake mining claims on an anonymous basis, either for a stipulated period of time or indefinitely? In pretty much all Western Canadian O&G regimes, if you want to post a lease to a Crown auction anonymously, you can but you have to use a title agent as the names of the parties posting them are all public. Also, if you drill a particularly good well, you can, by way of right, require the operational regulator (the ERCB in Alberta) to keep the well data private for up to one year (that's called a "tight hole" -- no jokes please), which then allows you to post contiguous acreage in future Crown lease sales if you want to. Is there anything similar in the mining biz, particularly in N&L? I ask because of Christine's response that the location of the 88 new claims "hasn't been made public yet", which tells me that the identities of parties who stake claims are not disclosed or that some sort of agency system is used in the mining world as well. $NRN
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@CautiousNow @Dunite @DJS yes, that seems about right for $IVN. The difference that lets me rationalize the large number of shares out is the combination of the cash on hand and the ability to finance a project through debt and an equity raise. I don't plan to be in at that point, though.
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@HRA-Coffin Yes and no @DJS. You can't stake anonymously but you can, and people often do, have others stake things for them. All provinces I've ever dealt with require some variation of what's called a "Free Miners Certificate" which you need to show ID for when you buy it annually. It gives you an id in the system and allows the relevant ministry to have contact info so they can keep you up to date on your claim info or send notices or whatever. You have to have one to file claims either the old fashioned way or digitally. That said, most staking of both varieties of staking is usually done by professionals who can either stake on the ground efficiently or understand and can use the digital system easily. They usually stake and file in their own names then transfer the title later when they get paid. In theory the staker can and sometimes does keep the claims in their own name and its not unheard of for them to be holding them for a third party that doesn't want to be disclosed. Majors used to do that all the time when they didn't want others checking records and finding out they were interested in a particular area.
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from #nrn,
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@DJS Thanks @HRA-Coffin and @Stargate2. Definitely some similarities and some differences. It sounds like miners use "Declarations of Trust" or similar documents which are common in the oil and gas world. These are legal agreements which differentiate between bare legal title (held by the agent) and beneficial title (held by the company that is ultimately footing the bill). Another difference might be the "volume" of leases posted by oil and gas companies vs the "volume" of claims staked by miners. If someone stakes that many claims in a rather remote area of northern quebec, it's not surprising that the likely low number of other claims staked in that area would allow you to identify the staking party with a high level of confidence. $NRN
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@DJS My two cents for what they're worth: if you believe that all market distortions ultimately get resolved and are willing to wait for that to occur, then at its current market cap $MARL is a major distortion that should be bought with both hands. However, that resolution may take five weeks or five years, and the opportunity cost of that money over a longer period is very real.
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@DJS As for myself, I bought at $1.25 so I am approximately 30% underwater right now. It's not a huge position and I would normally be willing to wait for the inevitable resolution, but I am starting to lose patience. For now, I have enough cash that I don't need to touch $MARL, but it will get sold for a better opportunity if/when I run out of cash.
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@DJS @murat I'm sure I speak for many here and would like to thank you very much for all your time and effort in keeping this site as high-quality as you do. Some bad apples will always slip through but, on the whole, the quality of CEO.ca is head and shoulders above other investment sites. #respect
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@murat thanks @DJS! i hope we can keep it up even as we grow
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@ayeyou @DJS Here is a link to a map showing the new claims $NRN staked that I downloaded from The Quebec Mines website.I posted it on my thread because I have no idea how to post a picture here on CEO.CA . I also included a previous map of claims from CLE site so you can use it for reference as to location compared to Huckleberry ,Sequoi and SEQ2 . http://www.siliconinvestor.com/readmsg.aspx?msgid=31041265
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@DJS Thanks @ayeyou!
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@DJS @investorwannabe @NickZed Don't forget the Voiseys Bay Ni-Cu VMS discovery in NL that his company, Diamond Fields, discovered and sold to Inco (now Vale) which was a 100+ bagger for many. My understanding is that it is currently one of Vale's most profitable mines.
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@DJS Just averaged up (again). Still so much value here... $TK
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@ayeyou Did some of that averaging up myself today @DJS. Spidey senses telling me $TK drill program this season is going to take them to a whole new level. A three digit one.
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@DJS Nobody on this channel. Nice move up on decent volume today. $UPP definitely undervalued at this level.
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