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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.
@MadeOfRubber@EvenPrime Liked your comment. I know its not relevant to $ME, but I worked for a few global publicly traded companies before I started my own gig in '04. It was a common occurrence for a mediocre or poor manager to get a 'promotion' and it frustrated the hell out of us all the time. In this case, without looking at L2/market depth it would be interesting to see who is doing the buying and/or if it's due to gold season starting up or just a bot following last years pattern.
@speculator@MadeOfRubber since 2014 $nxe has done this every year right before the AGM. Then as i seem to repeat daily, we go into june as one of the most bullish months of the year. This year $nxe probably the most bullish catylists in the history of the company as far as june goes. The coming catylists will trump the spot price of U droping, as $nxe catylist have proven to do over the past 4 years. Like i said ... every day for a month. Watch for a daily reversal around the 26th "this friday" seasonally $nxe increases on average 23% in june alone. The past couple years $nxe shares have done better than that. I bet we close this month above $3, that will put us in the $3.60 range at some point in june. Plus PEA speculation. I think history is going to prove my numbers pretty safe. I can already smell fear in the chat room today ... which is perfect. Smart money is buying right now
@MadeOfRubber@speculator thank you speculator I appreciate it. Sorry was offline couldn't reply earlier. I didn't know the history around that, it definitely helps. Guess I'm pulling my wallet out tomorrow to buy some more :)
@MadeOfRubber@TheHolyBuyBull I can understand that. Not sure who FMT are but I assume they have a bad rep. I'm leaning towards thinking legitimacy issues should be solved though but I am still a baby in this sector/junior mining (but not to investing or general business). They seem to be putting out monthly NRs, have a producing mine, have exploration potential, liquidity, and more importantly have high grade gold. Those are good catalysts going into the strong summer season IMHO. As someone else mentioned, I'd like to see more financial information disclosed (cost/oz etc) but I haven't looked detailed enough to tell if that's hidden in there already. I also don't know if Cartesian is still holding/selling regularly bringing down the price but eventually that should stop (the last time I looked based on their quantity disposed I estimated they'd be done by end of March 2017) - might not matter anymore. There's definitely no pumping on this board too which tends to actually be a good sign =) Guess we will see what happens but I'm in (largest position - fortunately or not) for now.
@MadeOfRubber^^ Save us the trouble. Knows his sh!t or paid pumper? Personally, I am interested in the technology and want to see everyone succeed. I also hold a small position 2% of my portfolio. Since I'm in the IT industry and also born/raised in Calgary, I couldn't resist taking a position (which is currently underwater 35%).
@MadeOfRubber@TheHolyBuyBull Or worse, a digital hack / robbery. Would love to see how any fiat currency government authority would truly put resources in to care #foodforthought. Can picture it now, a call from my daughter in 16 years, "Hey Dad, I lost my usb keys, my college fund and rent money are gone! Send some more soon!"
@MadeOfRubberWrote an email to IR early last week with a few questions and didn't get a reply. May cut my losses in this but am contemplating riding it out for the summer. Anyone following $SGN besides me at @Excelsior :)
@MadeOfRubberPreds are pretty banged up down the middle. I've been lucky enough to meet/chat with Laviolette a few times and wish he was my teams coach. Want the Preds to win as I'm an underdog fan generally, but unfortunately I call Penguins in 6.
@Excelsior@MadeOfRubber and @Onlyflaws - It will be curious to see how things go on their new toll milling set up with Lode Star, and if they make the decision to process their old tailings. Those are 2 more near term value drivers, but really it comes down to how their exploration goes on some of their 2017 drill targets, which may allow them to start some new shallow open pits to feed their mill. I could understand the desire to jump ship, but likewise the desire to add to positions here for more of a turnaround play and re-rating of this stock.
Personally, I had entered $SGN into the #StockPickingContest because I believed then (and still believe now) they have some very prospective targets for the 2017 #exploration program and this would allow them to surprise the markets by extending their mine life.
So even though they are a smaller unloved #Gold#producer, and now they are also a #tollmilling operation; I still see their upside as based on new discoveries. It will be interesting to watch their 2nd half of the year to see what develops, so for now... I'm going to weather the storm of low share-prices and see how things play out.
* Here was their 2017 Outlook based on their April release recapping the 2016 year end results:
"Based on the Company's current mine plan, it currently anticipates mining of gold at Mineral Ridge through to August 2017. Due to permitting timelines, the Company anticipates production of gold at Mineral Ridge to be 20 - 25,000 ounces from the Mary LC, Brodie and Bluelite south pits. The Custer pit and other areas for which permitting is outstanding, are not included in this production estimate and will be evaluated for economics of associated mining timelines when permits are received. Given the Company's short remaining life of mine, it is taking initiatives to extend the life of mine at Mineral Ridge through additional drilling to expand its resources, applying for permits to expand and extend current operations of new and existing pits, expanding the heap leach pad, and conducting a drilling program on its leach pad to determine if the leach pad material is amenable for further gold recovery using milling processes."
@MadeOfRubberI've been flirting with the idea to bail, but I hate taking a loss. Actually one of my questions in my email to $sgn was just that - requesting an update on metallurgy testing of the 6 million tons. I think there's 100-120,000 ounces of gold in there that shouldn't go to waste even though it's probably low grade.
@Excelsior@MadeOfRubber - Yeah, but who cares about a 7 bagger day anyway.... Haha!
Unfortunately - $MXSG was actually down -$0.0089 today. Nobody likes a company that is ramping up Gold and Silver #production these days at $450 gold eq oz... with hardly any debt. The fact that they have leach Pads 1 + 2 going and have targeted leach pads 3 + 4 for later in the year to increase production must be a bummer (lol). The fact that they also want to bring San Felix into production over the next 12 months and have even more gold and silver must really be bumming people out. :-)
@Excelsior@MadeOfRubber That's just how the Jr mining business works in an inefficient market. Some companies with minimal significant improvement will surge, while others that are making good strides and progress can languish for a while.
Mexus got a bit too far ahead of itself pre-production, but that's exactly what happens when Development companies make their run going into production. This goes along with Louis James "golden runway" theme as of late. They also had a few stalls making it to production, that timed out right as the investors were jumping ship on the developers and producers again so they were discarded in the recent down turn in miners over the last few months. In general many companies get forgotten about after moving into production, but a few quarters later, when they post their progress or challenges, then they get re-rated upwards or downwards by the markets like a real business. It then comes down to performance numbers and guidance and meeting/failing/exceeding expectations.
As previously mentioned, I believe where they are in Mexico for Gold & Silver is fine. Their grade is on par with many other Heap Lech operations. Their cost at $450 per gold equivalent ounce is incredibly low compared to most companies. Some of their problems are having only 1 smaller US listing, no famous Canadian or US A-team members on their board; and their JV partner is a private company that nobody is familiar with (even though they've been operators for the larger Majors and Mid-tiers in the past).
Really their whole approach was non-conventional in how they got into production without famous strategic investors, or streaming, or a big capital raise with private placements. Their JV has been very successful with hardly any debt, based on ownership of assets and work being done, and they made it a win win, and went into production.
Their other wart is not having a modern NI 43-101 on all their properties, and some investors have been burnt in the past when companies rush into production without crossing all their T's and dotting all their I's.
One of the advantages they offered was that they were not going to drill out the historic resource for 5-10 years diluting the snot out of everyone along for the ride, and were just going to get down to business, and continue exploring as they mined. Their plan was to earn while they learn, and I've made a nice return getting in early on their story and watching them make continued progress.
They know there is a historic resource, and have an idea of the average grade, and it has proved out as they've been leaching and recovering the metals. They'll do the same thing at San Felix next that they've done at Santa Elena. Once the market see them string together a few quarters of production and revenues, I believe they'l get re-rated back up substantially above their prior highs.
The risk here is holding time for them to put together the evidence of their hard work. They really need a corporate presentation that tells their story though. It would be a good idea to bring in a few other good minds to create a larger board of directors, now that they'll have some revenues being generated.