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CEO.CA members discuss high-risk penny stocks which can lose their entire value. Only risk what you can afford to lose.
@DJS@stateside You might well be the President but I can assure you you're not the only member. I'm pretty sure there are a bunch of recent joiners, including myself, who have thrown a small bit of their highest spec money at $HWY because of the history and massive potential. Thank you for bringing it to my/their attention.
@DJSFor those of you like me who have had some nice wins over the past 16 months or so and might be starting to think you're pretty smart, I discovered the perfect way to come crashing back to earth. First, put off doing your taxes for a few years during a bear market because you're too busy (not to mention too much of a procrastinator and too cheap to hire someone). Then, sit down for a multi-day hellish tax preparation marathon, during which you complete your Schedule 3's for the past few years, and watch them bleed red. Turns out I'm not so smart after all.
@DJSAnd lest you all think I'm completely nuts, between my capital losses, charitable donations and some flow throughs, I knew that CRA would owe me money for each of the unfiled years, so my unfiled taxes became a form of forced savings account that I couldn't easily access. Good thing too, as I probably would have plowed a bunch of it into the market and bled even more during 2014 and 2015...
@greg@DJS,@evenPrime,@DJS,@chatyak: thanks for the helpful and insightful information and discussion, I enjoyed evenprime's take on things $NXO from a physics person, and nice effort especially for a non-investor up till now. I think your thoughts highlight some of the keys to the incredible volatilty the past few weeks; many investors remain skeptical for good reasons and/or lack enough knowledge to know whether the various verticals will function well enough to be truly disruptive, ie. cell phones/tablets, military applications, medical/surgical scoping, virtual reality, etc..The company only knows so much as well, which is why the newly announced engineering/trade study on cameras/cell phones application is the great unanswered question. NXO needs some signed contracts to confirm that industry wants what NXO has, I'm thinking Zeiss and Bushnell and Tasco, etc. for starters. I hope these come within 6 months, or doubt will creep into my mind at least. I have no crystal ball, but the potential here was too good to pass up. Been in since last year.
@DJSAn email I received this morning from Pierce's Points, a small (free) gold mining industry letter I receive. Apparently, the Govt of Ghana announced recently that it is suspending the issuance of new mining licenses while it works on environmental reforms (which may or may not be directed at artisanal miners):
"Potentially major development in the gold space this week. With one of the world's go-to producing nations apparently going through a regulatory upheaval -- which could affect new projects and output.
That's in Ghana. Where the federal government said it has suspended issuance of new mining licenses across the country.
That news was delivered at a town hall meeting Monday, by Ghana's Vice-President Mahamadu Bawumia. Who simply noted, "We have suspended the issuance of mining licenses so that we can restructure the sector."
VP Bawumia gave few details beyond this. But did add that the move was part of a five-year plan for mining developed by the government -- with the aim to "improve the management of small scale mining to protect the environment."
The mention of "small scale" mining is key here. With the sudden suspension of mining licenses coming after recent high-profile media campaigns in Ghana have highlighted the damage done by illegal artisanal operations around the country.
The government's regulatory actions thus appear related to the small-scale mining problem. Leading some observers to speculate that the mining license ban might only apply to small projects -- not the large-scale operations that provide the bulk of Ghana's gold output.
But officials did not confirm whether the licensing suspension applies just to small-scale mines, or to all projects. Leaving open the possibility that new projects may be completely off the table for the time being.
If licensing is indeed completely suspended, it would be an important development for the global gold sector. With Ghana producing 2.9 million ounces last year -- making it Africa's second-largest supplier after South Africa, and the number 11 producing nation globally.
Vice-President Bawumia also said new rules are coming to prevent mining "around water bodies" -- which could put a further dent in new projects. Watch for clarification from the government on where the licensing ban will apply, and what the timelines might be for a restart to permitting."
@DJS@jeppelang1 Personally, I own both but more $CGP than $SOLG.L. Reasons include easier ability to buy and sell on the TSX-V, greater discount relative to its interest in Cascabel, and its other interests and assets in Ecuador that @tzeb correctly points out are valued at zero right now. $CGP also provides an opportunity for a "double take out", i.e. $CGL being taken out by $SOLG.L, and then $SOLG.L getting taken out by a major when Cascabel is proved up as the true monster district I believe it is.
@DJSA rough analogue (on hopefully a smaller scale) would be a AuEx Ventures, which some of you may recall was taken out several years ago in a paper deal by its JV partner Fronteer Gold to consolidate their Long Canyon deposit in Nevada, and then Fronteer was taken out by Newmont for $2.3B not long after that.
@DJSJust watched the $PTU webinar. Confirmed what I already knew or could infer from their corporate presentation and other info such as this board, so really not much new info. But it was helpful to hear Chris Frostad (CEO) talk through their current priority (Dragon) and the rationale for the approach they're taking. Any other comments from others who may also have watched?
@DJS@enviro111 Just read up this thread or spend a few minutes on their website. $CGP received a new concession in Ecuador about a month ago and has a strategic alliance agreement with ENAMI. Plus they don't just have 15% of Cascabel -- their interest is fully carried by $SOLG.L to FS. And they have properties in Chile, for whatever they're worth.
@DJSMore particularly, the Hole 12 PR back in October 2015 is what caused me to start buying $CGP with both hands at $0.02 back then. Well, at least as much as people would sell me -- volume was very low then but I got gradual fills over Q3 2015 that now rank among my best buys ever. After this is all said and done and $CGP has been taken out by $SOLG.L and then $SOLG.L has been taken out by a major (of which I have no doubt), then those buys will be my best ever by a long shot.
@DJS@PamplonaTrader Absolutely! Those results plus Aguinaga's are when the fireworks will really start. I know this is pumping which I normally don't do, but IMO Cascabel is a world-class district and its best deposits (and the best part of Alpala) have yet to be discovered. $CGP
@DJSThanks @PamplonaTrader. Fully agree -- still major upside of over a dozen more viable drill targets in Cascabel, beginning with Aguinaga. I have kept averaging up, as recently as 30 cents, and now hold 450K (on the bid for some more if it dips a bit) at an ACB of a dime. I hold at bit of Solgold too but was too slow on the trigger there and missed the real cheapies.
@enviro111@DJS it's easier to spot a great stock in a bear market or a bad day than during a rip roaring bull market. It remains to be seen if $CGP is great stock for me. I'm in at $0.40/sh. I watched it go from $0.25 to $0.40 and did nothing. I never try to make the first dollar or the last. Often times I make nothing.
@DJSI missed the first 5 mins but saw the rest. The content was good but it had little new info. It basically confirmed what we already knew. New info (for me at least) was the focus on exploration drilling at Dragon this year. The delivery was a little halting -- lots of "ums" and "ahs" -- but that's form over substance. Those basing their investment decision on the entertainment value alone would not have bought.
@DJSWondering if some were hoping to use interest driven by the webinar to exit, and are still doing that but no doubt not at the price they were hoping for. Then add in a down day across the board and you get a 10% drop.
@DJS@PamplonaTrader Great posts above re Alpala's potential to double in size AND deliver a globally significant hole in the process, and Aguinaga's district-making potential. Alpala already has tons of drill results to signal the very strong potential of Hole 24 and Aguinaga has a delicious outcrop from which to extrapolate the likely shallow location and strong grade of the orebody. In other words, there is still risk but it has been significantly (Alpala) or partially (Aguinaga) mitigated. $CGP
@DJSIn my mind, with a MC of CAD 120M, $CGP is a no-brainer: at 1Bt+ of ore at the current average grade and depth, Alpala will be a mine and a very profitable one at that. If you accept for a moment that the current NPV of Alpala is only CAD 800M ($CGP's CAD 120M MC / 15%) (I'm not an expert valuator but I know that's very low), then the rest of Cascabel, with over a dozen additional drill targets including a near-surface target supported by outcrop in Aguinaga, is pure upside. Cascabel is a district-in-waiting. Risky? Sure. Heavily de-risked already with unbelievable potential? Absolutely.
@HRA-CoffinYou could be right @DJS - we have to assume that at least. Though this stock has surprised me with late day strength more than once in the past few weeks. The important thing is to get the warrants exercised, force or not. I think they are calling everyone with warrants to prod them. That is probably creating selling but still probably the right thing to do. Mark would really rather not do a financing before drilling. They are up to $1.2-1.3 million now so I don't think they need one. $ADZ