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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.
@DanOSee the bubble forming in #zinc. Everyone and their mamma set up new zinc companies. There are a few legitimate explorers developers out there but for the rest I would not touch them with a stick. Still if pumped good (plus 'experienced management' that knows how to play it; news, trade shows, etc) could go up for at least 6 months or so.
@DanODuring the last two years the prospects of an important (new) mineral discovery in the fabled Yukon faded away so we had quite a few stories advertised as having the potential to be big discoveries. All located in Labrador, the Labrador Trough of Quebec and nowadays Newfoundland. $eqt with their VB2 at the end of 2015. $nrn in 2016 ('potential to be a giant ore deposit' - capitals, bold & underlined). Now we have the staking rush of NFL. Even Shawn Ryan staked NFL. Again we see companies publishing press releases where they say that they have staked close to Mr. Ryan :) Go east young man! Or at least deploy your capital in companies involved in this staking rush (they say). Or maybe you should be a little bit selective (or a trigger happy trader) as you know how these staking rushes end (I say).
@DanO$LMC-H I had a quick look at the website. "During 2015, Los Filos commenced a study to perform a detailed assessment of its operating options, including the update of the block model with additional drill data. The study was completed in the fourth quarter of 2015 and the findings were incorporated into an updated Los Filos life of mine plan. As a result of these findings and the change in long-term metal price assumptions, recoverable ounces and the associated future after-tax cash flows decreased which resulted in a reduction of the estimated recoverable value of Los Filos and a shortened mine life." The Los Filos mine is to be acquired for $350M or about 300,000 oz gold. That represents a one year production for the mine (o/p & u/g). Their reserves are 1.43 Moz gold i.e. a 4.5 years mine life. But they still have M+I 10.4 Moz and another 4.35 Moz in Inferred. The buyer would still have to deal with angry ejidos, gangsters, and would assume the costs associated with mine closure (how much? it could be an important amount). I did not have a close look at the Los Filos from a technical point of view yet.
@DanO$ion I am pretty sure that @Allan would bring back some pictures of the salars and historic works (salinas). We would love to see those. Also maybe he would fill some bottles with brine for testing. Gotta empty them of wine first and rinse them good though :)
@EvenPrime@DanO In your article on Vendetta you wrote, "Previous owners drilled the Pegmont and even involved BHP to have a good look at it by drilling some of the prospective areas. BHP wasn't able to find multiple/stacked mineralized horizons/lenses Cannington-style and dropped the option." - I was trying to find some information on this and have been unsuccessful. Do you know anything more about it? Can you point me in the right direction? Which areas did they drill?
@DanO@EvenPrime. $vtt Yep, Aug 31 financials on Sedar. They are going to raise money. It doesn't matter where BHP has drilled as we already know that stacked lenses occur in Zone 5 only (which is still open and shows increased zinc grades). Check out Pegmont Mines on the web. I found their Prospectus, agreements, etc. It is done this way i.e. in order for the met samples to be representative you include them all that is from all zones that you intend to mine. I know that they have included the BHZ & Zone 5 (newly drilled material). Metallurgy should not be very different from Cannington. $nrn drilling at Sequoi was pure speculation based on geophysics (hit or miss). This is not the case here with vtt. I considered the risk/reward ratio and bought some. It will be significantly de-risked after the release of positive met results and then of a new mineral resources (sulphide & transitional material).
@DanOStill waiting for some salars and salinas pictures from $ion 's Mexican lithium salars. The only ones available are blurred Google Earth pictures (on their site). And I think they were talking some #lithium brine assays. And some leach test results. Well, they're overdue.
@DanO$GN The team is at it again. So acquisition costs for the property are $1 million but the promo costs $3.3 million :) How about posting some links to those Technical Reports (the 2005 mineral resource estimation & the new (buddy) report)? I had a quick look at it. Narrow veins environment. I will definitely write something about this as it could teach investors a few things. Especially now that we deal with a flurry of activity back east.
@DanOT. (the one who humps :) posted his '24 min' dd on $GN. He said that it is a 'broke shell' and 'The shell is getting about a $3.3 million promote'! Well the acquisition price (for the old mine i.e. the price that they have to pay to the Kitco guy) is $1 million. Read T's post and you'd get the reference to the buddy report, etc.
@Brandon@DanO: yes you can compare $GN with $RGC. If you can't compare an early stage company with a development or production stage company, how are you supposed to evaluate the former? That's the whole crux of evaluating early stage companies; you look for analogs among latter stage ones, make adjustments for differing specifics, and come to some sort of conclusion as to what its chances are for progression.
@Excelsior@Brandon and @DanO - good discussion about comparing an early stage company to a development stage company. I agree with you both to some degree. @Brandon you raise some good points about looking for analogs and adjustments for differing specifics.
However, a development company that has their PEA, PFS, or FS, and their permitting in place or far advanced, and also may have infrastructure or a mine or mill in place from a past cycle, or capital already raised, is at a much different valuation and risk factor. They also will have different power/water/road/shipping dynamics, and is quite a bit different than an earlier stage drill play with so many unanswered questions. Good food for thought though guys. Ever upward!