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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.
@Excelsior@Onlyflaws - When companies announce they are going to do an acquisition , they almost always sell off. In this case it got a bit exaggerated due to the timing where the whole mining sector was selling off across the board, so it likely tripped some sell stops. That's fine as it will exhaust the selling, but it hurts in the short term.
The reason for the selloff is that they are spending money and acquiring debt, but if one leaves it at that and sells, then they miss the point of the whole reason the company is making the acquisition in the first place.
The better question is "Will this acquisition strengthen the company for the long game?" In this case picking up that land from Fresnillo by their producing El Castillo Mine makes all the sense in the world. I almost added more today, but want to see if we get one more day of weakness first.
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@OnlyflawsThanks for your thoughts @excelsior I was just bedazzled for such a big selloff because the acquisition makes a lot of sense in my mind. Oh well, nothing is rational in this market for sure...and that provides good opportunities.
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@Excelsior@Onlyflaws - Yes agreed - there is little rationality, but that is what provides the value perception gaps and opportunity in the first place.
The $AR acquisition from Fresnillo makes total sense for the longer term, and I expected a mild pullback on the announcement. However, I wasn't expecting it to coincide with an overall slump in the miners so that just accelerated it to bedazzling levels (ha!)
If Argonaut sells off any harder, then I'll probably deploy some dry powder, but really want to see how the rest of the week goes..... Cheers!
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@OnlyflawsAdded @ 1.95 Cant see much more downside unless the floor falls off gold.
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@OnlyflawsThats boring @DullesB :) Thats why I bought some Argonaut $AR and Minco $MSV yesterday. Minco is interesting, although China is not so appealing but the deposit is great. They have cash 40m with mkt cap of 55m so I consider it as a good bet in the long term. Probably bought too early, but the ship has to turn at some point. Anyone have any insights on this company? @excelsior for sure. :)
@Excelsior@Onlyflaws - I was also adding Argonaut $AR yesterday and will continue to add to my position if it pulls back further - It is a very under-rated #Gold#Producer and #Developer. I also like that Argonaut really has a lot of torque on both the upside and downside, so it is a really great stock to trade the wild waves up and down.
Yes, I've been looking at $MSV as well, but am pretty stocked up on #Silver miners at present and have a number of other #Developers in that sector. It is more undervalued than many of the other Silver Developers if you compare it to $BCM or $SBR for example, but there are developers / near term producers like $AXU$AUN or $GRG that are more interesting to me at present, and some other with past producing mines that are developing towards bringing those back into production like $BBB$KS or $BHS that are still flying more under the radar that I believe will have bigger moves when they surprise the markets over the next 12-18 months. I do like Minco, and have considered it, and they will do fine, like most of the Silver miners when Silver is in the mid $20's again.
Lastly, the #Explorers will do will if they drill good results, so sometimes if spot prices are getting hit bad in #Gold or #Silver, then #producers and #development stage companies may get wacked, but #Exploration and #ProspectGenerators with exploration work being done on their properties may be a good place to migrate over to. Then again, the good time to buy the small producers and developers is when they are on Clearance Sale. :-) #mbgtrends
@OnlyflawsRamping up production from 115-130koz in 2017 to 180koz by 2019. Good pipeline for production, wouldnt be suprised to see over 200koz production in the not too distant future. If the POG has found bottom, I think Argonaut sp should appreciate very nicely. I just hope they can work to reduce the AISC (its not bad but..) for better margins. Lets see if its a sell the news day. :)
@OnlyflawsThis sounds great: "Our goal as an organization is to rise to the point of 300,000 to 500,000 ounces per year production at all-in sustaining costs of less than $950 per ounce. In a $1,200 environment that will net $75 million a year of free cash flow to be deployed to rebuild this business and return back to our shareholders." Really solid growth and free cash flow projection.
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@OnlyflawsMagino is key here, but the management seems confident that it will get green light.
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@courtninjaA good spot to pick up some #VR / #AR company YDreams Global Interactive Technologies $YD. Watch that 27.5c doesn't crack to the downside. #ninjapicks
@Onlyflaws$2.25-2.49 was the funnel that this has been bouncing in. Yesterday it broke out of that resistance and looks to be running higher. Hopefully she has some legs.
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@OnlyflawsAlmost 10% down in less than 2 days. Im thinking the gdxj balancing gotta weigh here.
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@FundamentalAnalysis@Onlyflaws I'm not in this stock, but all the carnage is a good thing seriously.....I like it when gold prices move higher but miners start selling off irrationally.....seriously long term its all gonna pan out....
@ExcelsiorI was following their press releases and just said, sure looks like they are going into production in 12 months, I'll go for a little more Mexico exposure in Gold and Silver, but must admit I'd never seen a percentage gain like that before.
Here I went and found the Press Release that first caught my interest in late 2015. I am a big fan of $AR Argonaut and hold a nice position at present, and I'd forgotten all about their JV.
Mexus Gold US Assay Results and Determination from Argonaut
Nev., December 4th, 2015
"Although Mexus is disappointed that Argonaut has decided to terminate their option and were not interested in the high grade underground hard rock project which has huge potential, it remains confident that the property is still attractive. To that regard, CEO Paul Thompson has already begun speaking with other parties regarding the underground hard rock project who were interested in partnering prior to the Argonaut deal. CEO Paul Thompson added, “I will continue to seek a partner who wishes to bring this property to full production. The drill results shown prove to me that this property is economically viable. I believe that a consolidated drill program will prove out a substantial reserve with higher averages than shown above. An update on a new partner will be released as soon as soon as information becomes available.”
Thoughts posted on the KER last February 2016.
On February 11,2016 at 4:39 pm,
"Lastly I believe Mexus Gold is a takeover candidate soon, based on their most recent press releases. It had an out-sized move today."
On February 11, 2016 at 9:09 pm,
"I’m really interested in this Mexus Gold as a potential takeout target, and tried to get
in today, but I couldn’t get my order filled and then it spiked, and I tried
again in the afternoon and it spike away from me again.
**Bought first tranche of MXSG for $.0035 on (02/18/16) and continued buying and selling throughout the year."
Interesting to go back and re-read because I thought it was going to be a #takeover candidate, but as of yesterday they took that mine into #Production with a JV partner MarMar. Fun times!
@ExcelsiorMagino is briefly explained on that video presentation from the European Gold. That project is a whopper (hence the capex) but it will be a very long life and low cost mine.
They have several mines in #production that are currently more important (for example they just picked up all that land around their El Castillo mine from Fresnillo - which was brilliant for expanding that mine life and resources), and they've done good #Exploration around La Colorada to extend it's mine life, but on the longer term Magino is a large piece of the $AR growth profile.
Really next up is the San Agustin mine that comes on-line in Q3 of this year and will be producing first Gold. One step at time.....
Here's a more recent slide deck from April:
@FundamentalAnalysisAhhh everyone talking about $AR@Excelsior@onlyflaws@jayfire...I've looked into this in the past but at the time wasn't interested as saw it as an optionality producer. But if prices stay where they are and gold breaks above the $1310 region, we could see a lot of positive momentum in anticipation of all the production potential it has.....I should look into it again as a lot of potential into the gold bull market for the longer term.
@OnlyflawsIll add about $AR that the management has been suberbly executing. They have build three mines already and dont have any debt, nor are they diluted to the stratosphere. Its not as sexy with their low grades, but they are like diesel car, warms up slowly but takes you further than porsche.
@enviro111Question on $AR the market share for this is greater than 600 million. Larger than all of the zinc juniors combined. Larger than $tv. Only 19 million in cash. This must be a really special asset.
@ExcelsiorWith all the discussion recently around $GDXJ it seemed like a good idea to check out what $SGDJ had under the hood at present. #Gold#Silver#Miners#Juniors
Security Symbol Weight
OCEANAGOLD CORP. $OGC 8.62%
ALAMOS GOLD INC. CLASS A $AGI 7.57%
IAMGOLD CORP. $IAG 7.50%
ENDEAVOUR MINING CORP. $EDV 6.71%
OSISKO GOLD ROYALTIES LTD. $OR 4.90%
COEUR MINING INC. $CDE 4.76%
CENTERRA GOLD INC. $CG 4.67%
NEW GOLD INC. $NGD 4.46%
TOREX GOLD RESOURCES INC. $TXG 3.86%
ELDORADO GOLD CORP. $EGO 3.85%
FIRST MAJESTIC SILVER CORP. $AG 3.71%
GUYANA GOLDFIELDS INC. $GUY 3.52%
SILVER STANDARD RESOURCES INC. $SSRI 3.41%
FORTUNA SILVER MINES INC. $FSM 2.65%
CHINA GOLD INTERNATIONAL RESOURCES CORP. $CGG 2.64%
KLONDEX MINES LTD. $KDX 2.58%
PRETIUM RESOURCES INC. $PVG 2.43%
SEMAFO INC. $SMF 2.15%
SILVERCORP METALS INC. $SVM 2.10%
ASANKO GOLD INC. $AKG 2.00%
NOVAGOLD RESOURCES INC. $NG 1.99%
HARMONY GOLD MINING CO. LTD. $HMY 1.46%
MAG SILVER CORP. $MAG 1.43%
RICHMONT MINES INC. $RIC 1.39%
ALACER GOLD CORP. $ASR 1.34%
TMAC RESOURCES INC. $TMR 1.30%
ENDEAVOUR SILVER CORP. $EXK 1.13%
TERANGA GOLD CORP. $TGZ 1.00%
SEABRIDGE GOLD INC. $SA 0.90%
LUNDIN GOLD INC. $LUG 0.81%
SANDSTORM GOLD LTD. $SAND 0.80%
ARGONAUT GOLD INC. $AR 0.71%
PREMIER GOLD MINES LTD. $PG 0.67%
GOLD STANDARD VENTURES CORP. $GSV 0.58%
CONTINENTAL GOLD INC. $CNL 0.41%
STATE STREET INSTITUTIONAL TREASURY PLUS MONEY MARKET FUND $TPIXX 0.02%
CASH AND EQUIVALENTS -0.03%
@Excelsior$AR$ARNGF Argonaut Gold Extends Mineralization On Recently Acquired Fresnillo Mineral Concession Adjacent To The El Castillo Mine
(May 8, 2017) #Gold#Production#Exploration
Pete Dougherty, President & CEO commented: “With the #acquisition of $FRES.L Fresnillo’s San Juan concession and the drill results so far, we expected to increase the life of the El Castillo mine. #Drilling results to date are positive and indicate strong potential to expand the current pit limits initially into the North Target area. This previously announced acquisition also allows us to extract a large, known wedge of economic mineralization that lies on our side of the original concession boundary, as we move the pit wall back onto the newly acquired ground.”