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@Brandon @jamesKwantes: what's your gut feeling on that FS?
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@JamesKwantes Will reserve judgment until I see it @Brandon but it does vault $CGT into a fairly small group of companies with an FS-stage 5M-oz deposit in the Americas (although FG technically part of France)
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@fl @JamesKwantes Yep I've been trimming non-core holdings for the last month in case we see a cap gains inclusion rate hike on Wednesday.
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@JamesKwantes Just spoke to $CGT CEO Robert Giustra - he's happy with today's Montagne d'Or FS & says the economics will only get better. For example, there are 960K Inferred ounces inside the pit. A 4,300m infill drill program - costing US$1.5M - on the highest-grade portion of the in-pit Inferred resource could move another 200K oz into reserves, bringing the after-tax IRR up to 20%. But the additional drilling is subject to obtaining permits. Columbus already looking at other optimizations that could improve economics before the technical report is filed on SEDAR within 45 days "Any major mining company would be interested in this deposit." - Columbus drills turning now at both Montagne d'Or and Eastside in Nevada
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@JamesKwantes Dominion Diamond, Stornoway have held merger talks, sources tell Reuters http://www.reuters.com/article/us-dominion-diamond-m-a-stornoway-diamon-idUSKBN16R2QJ $SWY $DDC
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lolrenzo I guess investors were expecting an higher IRR (even if, as stated by @JamesKwantes, there is still room to reach 20+ %)
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@JamesKwantes The market says it's an offer $DDC
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@JamesKwantes Silver Wheaton had already been doing more gold deals, but looks like Randy Smallwood's recent shot at $SSL's Nolan Watson (over the SSL CEO's "management lying" comments) was merely an opening salvo $SLW
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@JamesKwantes True @FundamentalAnalysis about the silver royalty on Hackett River. An afterthought although $SBB mentioned it in year-end NR. Back River the big prize of course but significant value in the royalty - albeit Glencore owns the asset
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@JamesKwantes Some people are still fighting the last federal election. Trudeau won, Harper lost and Harper did himself in (and I hope there's no capital gains hike tomorrow). Trump ... don't get me started
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@JamesKwantes What's your source for Canadians paying the highest taxes @rocketRed? #fakenews Ask many Europeans
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@Maggee @JamesKwantes, I read this comment a lot: Trudeau won, get over it. (Or more commonly Trump won, get over it.) While true, you have to remember that by winning they are beginning their leadership, it's not the prize just to win. Now that Trudeau won we all, whether we voted for him or not, get to be critical about everything he does. When he is criticized it's not because we are bitter that he won but because he's doing something we don't like.
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@RocketRed @JamesKwantes isn't Canada Day Tax free day after 6 months of taxes the rest of the year is yours to keep
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@JamesKwantes I agree 100% @Maggee but I take issue with some of the petty complaints. The vital economic relationship with the United States that's he's navigating (with a madman) -- criticize him on how he's managing that, but $127K for a trip? C'mon. I am not an advocate of blank cheques for govts of any stripe; I also recognize rot across all political flavours when govts are in power for any length of time (with very few exceptions). These are early days
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@RocketRed So @JamesKwantes a 75% Capital Gains tax will make you happy I know you BC people think taxes are great or Governments should just keep spending away while our kids grandkids will pay for it all
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@JamesKwantes @RocketRed That's a moving website. And it only looks at income taxes. Consumption and VAT taxes for example are higher in Europe, dramatically higher in some cases
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@RocketRed Yes only income taxes @JamesKwantes we pay enough plus all the other taxes upon taxes
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@JamesKwantes No @RocketRed a 75% capital gains tax will not make me happy. And I'm sorry that you have an issue with me living in B.C. Last time I checked an NDP govt was in power in Alberta and right-of-centre govt ruled BC
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@dirkdiggler Thank you @JamesKwantes lol.
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@JamesKwantes @Maggee I abhor the entitlement mentality and I'm old enough to remember how bad it got during previous iterations of Canadian Liberal rule, particularly under Chretien. What is happening south of the border on that front, however, is beyond the pale
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@RocketRed Well @JamesKwantes better vote right so the NDP don't get in BC Nutley is doing a fine job of pissing away money
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@JamesKwantes Maybe the CRA will go easy on us retail blokes knowing it will get its pound(s) of flesh from Cameco, Silver Wheaton etc
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@JamesKwantes Correspondence between $DDC, Washington Group in latest salvo references one other "alternative transaction" - sounds like the $SWY merger idea
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@JamesKwantes If Washington doesn't own any shares, why does he want to buy the company?
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@ekim @JamesKwantes sounds like it is 100% or nothing. Maybe by having no shares...he has more legal flexibility to say publically what they have been saying. If you think there is a white knight (Rio or such)..you would think you would want to try and get an up to 5% position anyway...Maybe he doesn't think a white knight is possible.
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@JamesKwantes No change in cap gains - Tommy just went long again!
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@JamesKwantes I gotta ask @RocketRed - do you love Justin now?? #capitalgainsstatusquo #knowtheanswer
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@RocketRed @JamesKwantes as soon as he is out of power the better off will we all be and what's the debt to be after JT is out but nobody these days cares about debt at some point somebody has to pay for all that debt
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@JamesKwantes $CGT rebounding a bit from the Tuesday drop. Montagne d'Or after-tax IRR will be at or above 20% soon enough, and deposit also has size going for it. To the majors, size matters. Lots of value in Nevada too
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@JamesKwantes That's right @CautiousNow as they say make, hay while the sun shines (straw in mouth) - you might need a new moniker though! ;)
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@2pac I'm sure it was close call this time on capital gains @JamesKwantes. Next time the people of CEO.CA may have to rise upp,show our metal and hold the lions gate, if we wish to remain invictus.
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@JamesKwantes Haha hope we won't have to storm the gates @2pac. The finance minister Bill Morneau knows his way around business and the markets - the family business, Morneau Shepell, is publicly listed - so that probably helped.
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@ivopashov What is disappointing for me in this BFS is (1) high capex and (2) EUR/USD sensitivity analysis. The exchange rate assumption is 1.05 and this is so far from reality when looking at the 10 yr exchange rate. For every 0.05 difference NPV plunges by $60 mln. I would be conservative and assume 1.15/1.20 in the middle term so NPV/IRR should be in 235/14 - 170/12 range everything else being same. I guess they will reduce capex a bit but that would be 10-20%. I doubt they get the mine built for half of what they show. So that would come at well above $400 mln which is huge again (i don't include tax credits as they are a bit tricky to calculate). You can see what a penalty it is by the discount sensitivity analysis. You use 10% instead of 5% and NPV gets cut in half ($185 mln). On the positive side i assume they will convert the inferred ozs and will be able to add more ozs to the deposit with the current drilling going on. Also on the positive side is the late stage, size and good jurisdiction. As @JamesKwantes said size matters and that could spur some bidding. Big guys would prefer advanced 5 mln Ozs project with lower IRR to an early 1.5-2 mln project at a higher IRR. All being said, i would be on the safe side and calculate $300-330 mln NPV (worse exchange rate, better capex, more ozs) which still leaves about $150 mln for Columbus. The good part is that this is not the only 1 they have - Nevada has a potential to be a company maker. However, with all the fuzz around Montagne d'Ore, Nevada does not get much of an attention and this may stay like that for a long time. I am a shareholder here and am really at crossroads now.
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@JamesKwantes Re De Beers jewelry arm, there is sure a lot of activity in the #diamonds sector of late as well as interest from majors. Also a major focus of the latest Resource Opportunities which went out early this morning. Diamonds one of the "empty rooms" at an otherwise bullish PDAC. Opportunity IMO $DDC $RIO
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@Vaughan yeah but how to play it @jameskwantes ?
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@JamesKwantes I cover an explorer and 2 producers in the newsletter @Vaughan. All look cheap to me right now, even given some renewed interest in the sector #diamonds
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@JamesKwantes The producers for the cash flow that exists now (or will this year) and the explorer for the potential in a pretty boss portfolio of projects #diamonds
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@Vaughan Time for me to buy.a subscription @JamesKwantes. www.resourceopportunities.com ?
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@JamesKwantes That's right @Vaughan. Not too big of a secret what diamond stories I like though, at least in these parts ;)
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@JamesKwantes The greatest potential @stateside as long as you're pickin' em right! Can get very lonely - until it's not
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@JamesKwantes Not an investment advisor @bullionaire but you know as well as I do how the Yukon cycle works. And GPY cashed up and drilling, as you mentioned. I do believe the Yukon could well get hot again this year. Don't own it
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@JamesKwantes Little-known fact: Trump took up golf because the word looks so similar to gold
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@JamesKwantes Handy
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@JamesKwantes Key to the efficacy of the truth machine is making sure its parts are well-oiled
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@JamesKwantes Layoff carnage today at the Vancouver Sun (where I worked for 10 yrs) and Province, where dozens of journalists -- many of them young and talented -- & others lost their jobs. The place has been thinning out for years but those who left voluntarily before now walked away with a buyout cheque. The big winners = governments and others who had their feet held to the fire. On the B.C. media front, the Sun and Province did a lot of the heavy lifting! http://globalnews.ca/news/3333186/more-than-50-postmedia-employees-handed-layoff-notices-at-vancouver-sun-and-province/
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@murat @JamesKwantes and I assume they will let interns do most of the writing, and continue chasing headline clicks for ad impressions. online journalism is in big trouble. someone needs to invent a decent, new business model. medium is working on it https://techcrunch.com/2017/03/22/medium-debuts-its-paid-membership-subscription-program/
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@JamesKwantes Yes, a lot of the interns and temps were let go today (was by seniority), but I'm sure they'll bring in new ones to do the grunt work. If somebody's going to figure out profitable online journalism, it ain't going to be a newspaper!
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@JamesKwantes A silver lining was everybody who got laid off today made good money at the Sun, union shop with some of the best pay in the biz. Which also contributed to the need for cost-cutting when the business model failed, of course ...
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@JamesKwantes Art of the Dead
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@PhotoJ @murat @jamesKwantes This is the exact situation where certain cryptocurrencies would be the answer. Pay a few cents to read an ad-free, quality article. This isn't feasible with traditional payment methods due to transaction costs.
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