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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.
@pinnsvin@BDMinefinder I agree. I think Cameco's CRA issues are going to drag on for a while, likely 18-24 months. By then how much further along by then will $NXE and the uranium markets be? What Cameco has going for it is that they're Canadian. With foreign ownership rules being what they are I find it difficult to imagine anyone other than $CCO or $NXE bringing Arrow into production. What other Canadian company can afford to own 50% of Arrow and has the expertise to run a uranium mine on that scale? A foreign entity will need to recapitalize Cameco otherwise $NXE will be out of their reach in fairly short order as more uranium is proven up and the spot price increases. I'm leaning towards CGN. If they recapitalize $CCO they'll get an indebted $CCO and $NXE as a 2 for 1 for deal. Besides, who else needs $NXE as badly as the Chinese?
@pinnsvin@cole119 You stole my thunder. I agree with you 100%. I expect a bit a very small slide down to something like $2.20 and then a ramp up from there, possibly a little earlier than last year based on RE2 coming out late 2016 or early 2017. It's going to be interesting to watch.
@pinnsvinLiquidated my holdings of $MGA at 0.15 today that were bought at 0.135 in May and used the proceeds to buy $NXE. $MGA is up 11% and $NXE is down 22% over that time period. Perhaps someone is accumulating $MGA to get more control over $NXE and perhaps I'll miss out if there is more upside to be had for $MGA, but a profit is a profit and the original idea was to get a discount on $NXE shares. Mission accomplished. Hopefully we're near the bottom for $NXE.
@pinnsvin@cole119 Totally agree (the timing of my post with anonymous was 100% coincidental). There may well be something up with $MGA. I still think holding $MGA is a good/ great idea. It's certainly undervalued relative to its holdings, but for myself I found the stock a bit opaque/ hard to read. But my original idea in buying $MGA was as a vehicle to hold as much $NXE at the lowest price possible and stuck to that idea. At this point I feel that $NXE is a better value relative to my own risk tolerance. On the way out selling $MGA, I was lucky with my timing. It wasn't my original plan. I was doing the same as anonymous; it just seemed like a good opportunity to get a little gain on arbitrage (if that's the correct way to use the word).
@pinnsvin@Rulingmining I'm assuming it's in USD given that the spot price was reported as $18.40 yesterday or the day before. So far I haven't seen the price bump reported elsewhere. It may be that it's based on a single transaction. I don't know where CME Group gets its uranium data.
@pinnsvin@EvenPrime Yeah I figured I was too late to win any contests (been at the cabin over the last week and didn't see the contest until this this morning). My picks perhaps have their very best days behind them, but we'll see. I've owned all three for a little while. I've been in $NXE since February of 2014 @ $0.425 and I cost averaged up until RE1 (sold some to cover some of the cost). Both $XBI and $CPD I purchased last February. While they might not be the most exciting and speculative picks, I think they have a bit of room to run especially over the long term.
@pinnsvin@Rulingmining I would be shocked if you were penalized more than 1% on your first-time, one month over-contribution as well. However, after having spoken to directly to someone at the CRA after my own over-contribution this past year, I was told explicitly that if one made substantial gains, one could be harshly penalized on the gains of the over contribution, effectively wiping out any profit.
@Rulingmining@pinnsvin I do not know how they would judge 'substantial gains'. I bought in Dec. Today's +$0.16 is in January. I'm no longer over contributed now that it's 2017. Maybe I made 10-15% on each of the $5500s (-1%). If they somehow penalized me on the gain during that period (highly doubtful), it won't be the end of my world.
@speculatori caught that ... I was spinning the wheels on gains right when @pinnsvin posted. Hypothetically, if CRA caught wind of you making enough money of that contribution, for them to open an audit ... they will. Why wouldnt they ? I did read an article a couple weeks ago about TFSA's. At this point,No party will even hint about touching TFSA's at this point, as they say it would be " Political suicide" having said that ... they did note that some TFSA's currently have as much as 1.25 million in them. So being that the parties have even noted the amounts in some of the accounts ... You know they are eyeball fking TFSA's. I your case though... we are not talking about very much money
@Rulingmining@pinnsvin I also think that it would be weird for them to come and ask me for my returns on the 1 month over contributions when they'll already be penalizing me. They do not see your gains unless they look into it. I think it would be quite the thorough audit for them to be looking that deeply into my returns on a TFSA. I don't see why they would ask me for that personally.
Anyway, we'll see.
@EvenPrime@6furlongs - You chose $CSG (CSG.V) Cosigo Resources. They return a zero share price. Let me know if I need to change this. (I think I remember you telling me something but I couldn't find the info)
@pinnsvin - I added you :) Your $CPD is which company? I chose CPD.TO for you - is this correct?
@JosephMurphy - I added you :) Your $RAB is which company? I chose RAB.V - is this correct?
@K2 AZM.AX - Fixed - Thank You for letting me know
@Bedrag - $ALP (ALP.V) changed company name to $CSPG (CSPG.V) - updated, thank you for letting me know. If there is any issues let me know.
@Truth Never Told - CAS is now CAS.TO - thank you
@Wolff - Thank you for the complement :)
@LTR - You should have $SIC (SIC.V) working - let me know if there is an issue. Sorry about that. My brain was stuck lol.
Everyone - thank you for the input and compliments. This has been a lot of fun and I'm learning a lot. Good start to the New Year :p
@pinnsvinOn days like today where when $NXE is on a rip (and I feel like my face is beginning to tear off), I have to remind myself to get my emotions in check. That's when it's good have a plan and stick to it. I realize it's a bit early, but I'd like to get some feedback from the board on exit strategies.
@pinnsvinI made my fist Nexgen purchase in February 2014 at ~$0.43 and cost averaged up to around $0.90. I've taken about 10% off the table each time the stock has gone up 100%-ish (i.e. at $1.95 and $2.70). Doing this I've recouped just under 50% of my original investment (reinvested elsewhere) and the balance is at about 270%. I've done fairly well; it's an embarrassment riches. I'm not looking to exit the stock any time soon, so I intend on staying long on a sizeable portion of my holdings. But regardless of how good an investment $NXE is, over time I'd like to mitigate the concentration of risk and diversify somewhat. I've been thinking to take some more money off the table after RE2 and the PFS depending on the results (the higher the RE, the less I am to sell as I feel it reduces risk).
@pinnsvinI had a dream over the weekend that Nexgen released RE2 a few weeks early and unexpectedly. I was looking at the real time stock ticker a few hours after the news release and the share price peaked at $5.60. I try to stay emotionally detached with my investments but I think this one is beginning to get under my skin.
@pinnsvinI added a bit more today at $3.38. Whether or not it was the best time to buy, remains to be seen. Over the long run, I expect it to be a profitable investment with upcoming drill results, RE2, and the NYSE listing. Perhaps I should be sending someone at Tepco a six pack as a thank-you gift...
@pinnsvinAs $NXE goes higher and higher, what are your strategies for taking profits? (In lieu of the last few posts from @bernardshaw@mbcowboy@Pete I asked a similar question a few weeks ago but received little response).
@Pete@pinnsvin i took out most of my original investment after a triple. Nothing to do with nxe, just an overall risk assessment. Mabye i wouldn't have done it if my exposure wasn't so high (close to 100%). Locking in some profits after re2 is definitely something many will consider here.
@pinnsvin@Pete I'm in the same boat. I've taken out about half the cost of my original investment, but I'm still up significantly. And $NXE just keeps going higher. I'd like to maximize my profits while reducing risk. It's a fine balance. I feel a bit like Santiago from Hemingway's The Old Man and the Sea. Unlike Santiago, I'd like to get that giant fish back to shore.
@pinnsvin@TSXminer Thanks for the information regarding kriging interpolation method. That's *great*. I've been wanting to try my hand with generating a resource estimate but I wasn't sure where to start. This at least gives me some search terms. If anyone else can suggest some online sources or a text book, etc. on the subject, I'd be very appreciative. I have some software for generating algorithmic, parametric 3D models and I thought it might be fun to see what I could come up with.
@pinnsvinThe idea was to generate a rough 3D model myself. When I look at the data that is released, there is a map with drill hole locations, azimuth, dip, cps ranges at depth, and assay data. At least by my thinking that should be more than enough data to get in the ball park. I'd like to take a stab at it anyway. It's just for fun. I don't think I'm going to put ESRI out of business any time soon...
@pinnsvin@PamplonaTrader I've been thinking along the lines of @BruceWayne as well. I've been a bit nervous about the rapidly increasing valuation and hoping that we're not getting too far ahead of ourselves. But that image comparison makes me feel a whole lot better(!) In any case, we'll find out soon enough.