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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.
@rjunior@HRA-Coffin it was a pleasure meeting you in person yesterday! I have been following you since April through SD and it was great to meet you in person. Thanks for the insights and great conversation! - Richard
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@NewtonRandom idea for a joke here @HRA-Coffin. Builds on Brent's story of bringing people from old folk's home to empty conference and them taking everything -- including drill core. Adventure to get it back. Pretty weak #jokes but wanted to share with you here : ) all the best. Thanks much for hard work at #mif!
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@HRA-CoffinI just wanted to thank all of you for attending #MIF and putting in the work to live update everyone at ceo.ca who couldn't attend. Hope you took advantage of the open bar yesterday!
@HRA-CoffinSomeone has to stick up for retail so I've elected myself. You guys know -or if you don't know you'd better learn quickly- institutions don't price these deals, retail does. BAY was, let's be honest, structured and marketed as a non retail deal and that's come home to roost. Funds won't buy it higher. They'll wait for the next placement. And, frankly, retail isn't wrong in this case, at least not yet. The resource at BAY's project as it stands right now is not big enought for BHP. It might be someday after a large and successful drill program but right now there ain't no endgame 90s. Retail's not wrong at least not yet.
@HRA-CoffinJust for the sake of clarity (and I think/hope Ben understands this) I wasn't dissing $BAY or the project, simply stating the obvious and pointing out that retail was, in fact, acting rationally. That's one of the joys of dealing with a project that far north. It takes a long time to get to critical mass, that's just how it is.
@BenjaminCox@HRA-Coffin I actually ran $bay against a basket of juniors and majors since we IPO'd and we did a fine job against them. Lots of juniors our performed us for 3-6 months, but very few did a good long term job of holding and creating value. I know we are an illiquid junior, but we out performed the majors since we IPO'd, something most juniors can't say that did. We have not rolled back, or gone to 300m shares, or done 10's of millions of warrents in overhang. We are a clean, cashed up, tight company that is getting serious work done, yes we will not have more then 4-5 real releases a year, but they will be real releases.
@HRA-CoffinNot loving the $PG numbers either but not that shocked by them. That's what a big low grade sulphide project looks like. Think porphyries. Haven't gone though them in detail but agree the market isn't likely to love it.
@HRA-Coffin$NRN talked to me about financing a month or so ago. I told them I thought it was a good idea. I don't love the fact its flow through since I hate flow through on principal but they probably got approached by the fund. Checking to see who the buyers are. I like the Sequoi targets and have a fairly large bet that the drilling works out but management would be foolish to leave themselves open to having to raise money for next year if the drilling doesn't excite people so I can't blame them. They were hoping to do it at higher prices obviously but the market didn't cooperate.
@money75@HRA-Coffin, nice to know you think they have a fairly high chance of hitting at Sequoi. I think the same, and that's based on the VTEM's (conductance & Magnetic modeling) and the NI/CU Lake Sediment chain that clearly seems to emanate from Sequoi,
@MiningBookGuyHere's an example of a 'good' internet article from #JimRickards:
Two Billion-Dollar Buzz Saws https://dailyreckoning.com/two-billion-dollar-buzz-saws/
In this one, I give him credit for admitting his wrong calls, and explaining exactly why they were wrong. For some more color on the Icahn call, listen to the beginning of @HRA-Coffin's keynote at MIF, it was enlightening: https://www.youtube.com/watch?v=jv1CW-PYQaU+
Also, take note of the #DruckenmillerDump related to gold. Here are some good quotes from the Rickards article to go with that:
"Gold is more interesting. I can’t read Stan Druckenmiller’s mind, but his stated reasons for dumping gold don’t make sense. In fact, he may just be a trader who had a good run, made substantial profits over the past year (perhaps $200 million) and decided to take his money off the table. That’s fine, as it’s his money.
But when Druckenmiller says, “The reasons I have owned [gold] for the last couple of years… may be ending,” that’s demonstrably incorrect. The reasons to own gold are insurance against extreme risk, as a hedge against inflation, and as a sound form of money in a world where central banks are losing control. All of those reasons still apply."
"Druckenmiller has given gold investors a gift. By single-handedly taking down the gold markets, he has given investors an excellent entry point for new positions in precious metals. The gold and silver stories are still intact, with or without Druckenmiller’s participation. Who knows, he may even tiptoe back into the market — that’s what hedge fund guys do."
@HRA-CoffinKeep in mind how much ground $ADZ added to their holdings this year. Most of what they are flying they didn't own six months ago. They have changed the model and say that the mapping they have been doing all summer backs up the new model and the combination of that mapping, the airborne survey and geochem should finalize the target list. I hoped they would move faster too but I agree with Luke on that one. #Kolebaba has told me that most of his shareholders have been telling him to get the surveys done and prioritize the targets and not to go off half cocked with the drill program. The area has apparently never had a large scale airborne survey done by any of the companies mining there past and present which is sort of amazing really.
@HRA-CoffinIt will be interesting to see what happens to interest rate sensitive sectors like real estate and autos (basically all auto sales are financed) in the next couple of months as higher yields kick in. Wall St is gaga about last month's home sales but at what point do rising mortgage rates and auto loan financing costs start to crimp sales? Mortgage rates have already moved up a lot, percentage wise, since October.
@HRA-CoffinAgreed on both RR. Canadian real estate will be a scary place. Less sure on the US. We're still in the honeymoon phase on Trump. He's overpromising big time. Not convinced he'll deliver though. We'll see.
@HRA-CoffinYou need to generate some news flow for $FPX to go along with that nickel rally @MartinTurenne so people remember you have nickel projects. Remember the Howe St Motto "When in doubt, make some shit up!"
@HRA-CoffinYes, probably true @StarFire though Trump (for Trump) is being very careful what he says now that he has the big round office. He's gone like two weeks without getting at least one foot in his mouth up to the ankle. That has to be some sort of record.
@HRA-CoffinUnfortunately probably true @billionaire. A lot of people voted for Trump thinking he would end billionaire entitlement. I've never seen the guy act against his own interests before so I'm afraid I'm highly skeptical its going to pan out that way.
@HRA-CoffinYep. They promoted me on it. A real head shaker that one. The idea just looked crazy and it took some extreme financial gymnastics to make it look even marginally economic - if you bought into all their assumptions.
@HRA-CoffinInteresting how the market latched onto a strong durable goods report (though the "shocking increase" was mainly aircraft orders which swing wildly month to month) and completely ignored a really weak existing home sales number. Its the interest rate sensitive areas of the economy, like home sales, that bear watching in coming weeks. Wall St traders are focused on promised infrastructure spending which will take years to arrive when the real danger is rapidly tightening credit conditions. That tightening is going on regardless of what the Fed does. They are irrelevant in the near term.
@dirkdigglerTrader's didn't need a strong durable goods report to thump $gold further @Hra-Coffin. They had it on its knees already and ANY negatively perceived (positive economic) piece of news is all they needed to push it to its current level. Now we have a standing count.