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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.
@Brent_CookJoe makes a good point. Many juniors will point to some low grade mine in production as reason to promote their low grade marginal deposit. But you have to realize--those are built, capital sunk. I think that when the majors are now considering an acquisition they consider the capex. No one needs another Rainy River or Cote Lake.
@Brent_CookOK, Moneta is a poor deposit with grade smeared across cry low grade rock. Very high internal strip IMO. UNigold has small oxide but the sulfide is not best grade and again strip in high capex area. Close but no cigar. New gold straddled w/ Rainy River.
@Brent_CookMy brother knows a guy whose sister is married to the minister. I can get you in for a small fee and I have this incredible gold deposit the Incas found when they were Mormons. real good stuff Bro
@MiningBookGuy@Brent_Cook - thanks. one follow-up $ORG comment from me that doesn't need to be answered (more for the viewers):
I think $MARL and $ORG make an interesting comparison. I am more positive on #Sudan and more negative on #Turkey than you are. I think the #geopolitics here is very tricky, and no one really knows what will happen.
But one thing for sure: both $MARL and $ORG are going into #IvoryCoast with early stage exploration. This is hugely prospective and a 'less risky' jurisdiction (though no cake walk either). I don't think the market has caught on with this for $ORG yet. Maybe this won't change anyone's mind, but it's definitely worth noting. These companies will be interesting to follow in tandem.
@bmonaghan@Brent_Cook Hi Brent, Blaine Monaghan here. Haven't given you the $aan pitch yet. Presently in Cape Town, Indaba, will give you a shout when I get back. Agree with you regarding Egypt, great geological potential, pity about the mining law. However, we have high hopes that they will come round.
Eric Coffin of HRA Advisories | Mar. 22, 2012
From The March 2012 HRA Journal
“It’s that time of year again. Thirty five thousand people descended on Toronto to take part in the largest mining industry confab in the world. The PDAC has become famous for the broad range of attendees, the numerous parties and the gouging by local hotel operators. ”
“For resource stock investors, the PDAC famous for something more sinister; the “PDAC Curse”. So far this month is looking like this annual scourge is alive and well and making life miserable for resource stock traders yet again.”
• Here’s another article highlighting the 2011 #PDACcurse:
“If you haven’t heard of the #PDAC curse, you’re in for a tale of woe and despair.”
“PDAC, for those of you unaware, stands for the Prospectors and Developers Association of Canada. The annual PDAC Convention was attended by nearly 30,000 mining people earlier this week. Because corporate executives don’t like going to jail, most juniors with any sniff of positive news will release their results just before or during the convention. That frees them up to promote unfettered. BNN broadcasts live from the floor and conducts interviews with quotable executives and analysts. Its a pretty big deal…”
• Here was the Kitco coverage of the question last year, and we know in retrospect, the curse was lifted last year, but you can sense the hesitation going into this period last year…..
Can The Market Survive the #PDACcurse?
Tuesday March 08, 2016 (Kitco News) –
“Although gold prices are up almost 20% since the start of the year, the market might not be able to escape the PDAC curse, a common correction seen after the Prospectors and Developers Association of Canada conference, as analysts and market participants are expecting to see a pullback after the recent 13-month high.
“I think we have seen things move pretty hard in one direction so it makes sense to see a pullback,” said Brent Cook, author of the newsletter Exploration insights.
** Is there a #PDAC Curse?
@TheNextBigRush - Aug 9, 2016
> On January 31, 2017 at 11:31 am, @Excelsior:
"Yep. Seasonality isn’t perfect, and no 2 years are identical; but is very clear that for the last 2 decades that a good metals trade is to buy in late Dec – then trim some back in late Feb….then buy back those trimmings in March after the PDAC Curse."
** On February 9, 2017 at 12:04 pm,
from the ~coreshack conversation here on #CEO:
@tommy – “And how will we know we’re in a bull market?”
@HRA-Coffin (Eric) – ” I think it’s a bull market – but nothing like some of the past ones we’ve seen. Will take a while for that to develop. ”
@JMNorthShore (Joe) – “We are seeing some financings of junior explorers being upsized considerably. Given that the gold price is still around US$1235 so definitely a lot of investor interest in the upside potential. ”
@Brent_Cook – “Agree, precious metals look good for the year. It is going to get really weird down here in the US”
@JKaiser – “PDAC curse only occasionally gets violated as in last year. Will be an interesting test this year. ”
@tommy – “No PDAC curse last year. A pleasant surprise around here! I am still a child of the bear market and can’t have enough cash…. ”
#PDACcurse - Sorry this was long but it's #spooky
@tommyGood @brent_cook Kitco interview. Given the red on my screen it's a relief/confirmationbias? to hear someone of his experience so excited about juniors although he expects the market to deflate short term and advises buying summer weakness
@BS@tommy don't rely on @Brent_cook for timing metals price movements, over coming months. That's not where his strength lies. Do look at the companies he's mentioning as possible takeover targets. (He was wrong on timing in interviews and presentations late in 2015/early 2016, but still getting ready in case the upswing did come, from which subscribers profited handsomely).
@BSMy bad, thought he was quite bearish (in his public comments) late 2015, and didn't expect the market to turn around so violently in early 2016. Though he did position himself in case it would happen, but was expecting the bear market to last longer, if I'm not mistaken. But maybe the problem is my memory. What do you expect with the upcoming rate hike, @TheDailyGold ?
@PicsouNext question is: will @brent_cook cut $MARL loose? So far the narrative was indeed around the connections of the local partner as a risk mitigant. It was not part of the plan that the prick in charge would seriously mess around with #Mutti.
@Picsou@NickZed sorry for the teasing then but against my principles, it's like dumping @brent_cook or @jkaiser material. Here is the intro: Resource companies are again making money, and promising to ‘learn the lessons’ of a boom that left them drowning in debt.
A year after Newcrest bought Lihir, Rio Tinto spent $3.7bn on coal assets in Mozambique, which it sold three years later for $50m. Also in 2011 BHP Billiton ploughed almost $20bn into shale oil assets in the US, that are now valued at a little over half that sum.
“There was a lot of exuberance and everyone got caught up in it and that includes executives, boards, shareholders and analysts,” says Daniel Morgan, a commodities analyst at UBS. “There was a belief China’s economic boom would continue at the same fast pace.”