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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.
Oliver"Local investors are a bit jittery because consumer sentiment surveys keep showing Australians are lacking confidence. There is still quite a bit of dissatisfaction about last year's federal budget and a fair bit of disquiet ahead of next month's new budget," Legg Mason chief investment officer Reece Birtles said. #ASX
MiningBookGuyThe Money Miners: The Great Australian Mining Boom
by Trevor Sykes
1978 (reprinted 1995)
-story of a super-boom in Aussie Juniors from 1968-1971, with Poseidon leading the way (based on nickel discovery). Poseidon went from $0.80 AUD to $280 AUD in ~4 months.
-A big part of the book is devoted to financial and geological shenanigans, leading to a quick and ugly bust. Comparable to Bre-X, perhaps even more destructive to the Aussie mining scene on a relative basis (lots of major Aussie brokerages went bust).
-great financial details, almost too in-depth on how the Aussie exchanges worked in the late-60’s (some of it was over my head). also interesting comments on geology, but this takes a backseat to the financials (hence, the name “Money Miners”).
-interesting point on Poseidon: had a VERY tight share structure. there were some discussions on #ceo.ca about how important this is. it was critical for how high (and how quickly) Poseidon went. Some other stocks benefited greatly, but not as much as Poseidon.
-highly recommended as the authoritative history on this era. some really good stats/charts from the era. but keep in mind it’s a tougher read. some chapters great, some chapters boring/dated.
COST: ~$30-35 USD
- I got my new copy directly delivered from the UK a year ago: http://www.amazon.co.uk/The-Money-Miners-Australian-Mining/dp/1863738444
can probably get it cheaper in UK and Australia. don’t think this was ever published in US/Canada. But might get lucky in a used bookstore in Vancouver.
Are there are more recent books focused on more recent Aussie discoveries, or a time period of the markets (ex. I know there was a Aussie junior gold boom from roughly 1980-1987, but don’t know any books focused on it?)
Would be interested to hear from Aussies that know this best. Also, any Aussie book recommendations are great. Harder to find, and this one was well worth the money to me.
@KristianPilgangoora lithium district is outperforming rest of the world by far. Don't think lithium plays in Nevada or anywhere else will catch up in 2016, unless companies can show real progress in process technology. China all over Pilgangoora. $MTC$AJM$PLS#lithium#ASX
@MiningBookGuy@BenjaminCox RE: share #structure - as a retail player, i like seeing closer to 100M or below than 200M shares out on the TSXV. BUT, i also like the quirkiness of how a stock always moves in .005 increments at the lowest prices (very different from ASX or AIM in London). So I might lean towards the tighter share structure...but there's something to be said for a stock that can quickly move from .02 to .05, compared to .50 to .70 (or something like that). the psychology definitely matters. #TSXV#ASX#AIM
@MiningBookGuyi'll post this again: asx.com.au/ I think ASX has the best one-stop-shop website. easier for me to grab old reports and powerpoints than from SEDAR in Canada. and #HotCopper is great too, since all the reports get posted there automatically (unlike stockhouse...but at least CEO.CA is filling that gap nicely) #ASX
@MiningBookGuyaussie companies are all over the place. the most important thing is that some are completely legitimate, and the only reason they are ignored is that they are ASX listed and not TSX/TSXV listed. otherwise, they could easily have 2x or higher market cap, simply from additional exposure #ASX
@MiningBookGuy@anonymous - is that post in response to @Newton request for me live tweeting #DiggersAndDealers? I won't be there, to 100% confirm.
With that said, I encourage people at ceo.ca to be more open to international exchanges. I'm American, and it took me far too long to become aware of thousands of juniors internationally. It's true that most people here don't buy the #ASX. But it's definitely worth looking into possibilities (as an example, I just learned the other day that @excelsior has success with ASX companies that have a US-OTC listing). And it's always good to be aware of #ASX companies that are doing work right next door to #TSX companies that you may own. You will get further insight about emerging districts that way.
@MiningBookGuyok, got some time to catch up in ~AUfrica now. @Paul - thankfully ceo.ca exists, because NOTHING comes close in north america. there are some other message boards, many that have mining stocks as a sideshow (with various tech stocks or other types of penny stocks as the main event).
If anyone else would like to list a few, be my guest. But I say CEO.CA is by far #1 in North America, with Stockhouse as a distant 2nd.
However, #HotCopper is just awesome for #ASX stocks. I especially recommend it to those in this room who are open to ASX listed stocks, but haven't tried yet. Check out the quality posts at http://hotcopper.com.au/
@MiningBookGuy@MiningCatalyst - yeah, @Nick is the resident 'ASX expert' at CEO.CA, at least in my opinion. we'll see if the the #ASX momentum picks up...i really think it will. people will be begging @Nick for picks at some point :)
Oh, and I still haven't looked closely at $MSR.AX, but definitely a great example of how things 'down under' are so 'under the radar' here
@MiningBookGuyMake sure to check this link if you're interested in #ASX juniors in #Africa: https://www.africadownunderconference.com/#AfricaDownUnder
Conference happened last week. I don't think a single person commented on it at ceo.ca yet. It's very possible some of these companies will become a big deal in North America...eventually. Researching the 'programme' and 'presenters' sections can help you find juniors BEFORE the masses!
@MiningBookGuyPrecious Metals Summit is my favorite conference since the webcasts are live, and such a wide variety of juniors. I'm going to watch as much as possible live the next few days. Here's a list of select companies I'm looking forward to (with mountain timezone attached):
1:15pm $AQI.AX (own it) - I think this could make a big splash as an #ASX company that will get exposure to North American Institutions
1:45pm $NRN (own it) - plenty of people excited about this one!
2:30pm $MUN (own it) - hoping for more details on drilling programs with this one
8:10am $CEM (own it) - company has been too quiet. but intriguing NR yesterday, hope they expand on it.
9:10am $ALG (don't own it) - interested to learn more, still wish i bought when @stateside first mentioned it!
9:30am $CDV.AX (just bought a few shares) - another ASX that's already made a splash in North American.
9:50am $SWA (own it) - love that it's sandwiched between $CDV.AX and $WAF. hoping for some new info.
10:20am $WAF$WAF.AX (don't own it) - I 'discovered' this one at #PreciousSummit last year...too bad I didn't buy. Amazing how they've evolved in ~12 months. Another great @stateside pick!
1:30pm $ORG (don't own it) - very interested to hear if there's a new strategy with the core Redback Mining team getting together.
2:30pm $IDM (don't own it) - @RobMcLeod's presentation was one of my favorite's last year. Another one amazing how much it's evolved in ~12 months!
10:30am $GOR.AX (don't own it) - another ASX I think could get even more North American interest. Want to learn more.
I'm purposefully leaving off a few new ones I've got my eye on...will definitely be checking the archives since it's impossible to watch everything live, and hopefully will discover some 'diamonds in the rough' like $WAF last year. It's going to be fun! http://www.gowebcasting.com/conferences/2016/09/14/precious-metals-summit/day/1#PreciousSummit
@MiningBookGuygotta say i'm psyched on $OVL.AX like @Nick...up ~30-40% so far on #ASX today! Feels like a new big buyer too me, wanting to get in before drilling announcements. Keep in mind @Nick has been talking about this one for a while (I got in after the initial move started). Really great call by him!
@MiningBookGuyfor the record, i'm seeing a lot more 'green' on the ASX and AIM stocks I follow than TSXV in the last 24 hours, not necessarily because of performance. 'Exchange Diversification', maybe another reason it's worth looking at juniors on multiple exchanges. #TSXV#ASX#AIM
@MiningBookGuy@Brendan - thanks for the recommendation! It's been on my list a while, I just never got around to buying. Maybe I will right now, especially to get more insight for #Australia & #ASX history :)
@MiningBookGuy@Jayfire - yeah, #lithium stocks all over the place, but seems to be affecting the #ASX stocks more. fascinating to me how you can have very similar stocks listed on #ASX and #TSXV, but you'll see stronger correlations in short-term trading simply based on the exchange their listed. Sometimes it's just giving you an idea of how the 'local' traders are feeling that day, and creates opportunities.
@Newton#haywood out with report on Gold Road Resources on #asx#australie exchange. New feasibility study out, targeting 270k Oz production per year for 13 years. Large 3m Oz reserve, another 3m as resource. Capex of 500M, with additional expense for power plant and #gas pipleine to be built by a utility company. Crazy statistic from project: "gold endowment of 9,260 ounces per vertical metre to the base of the reserve pit (380 m)." big project, will be #bigdeal if they secure funding and get it into production!
@PhotoJ@PamplonaTrader are you familiar with the $CXO.ASX story? Haven't done much research but they had a monster drill result in September at their Finniss site - right outside of Darwin in NT - geographically superior to the Pilbara region. Share price popped 400% in 2 weeks, down about 50% since. $28MM market cap Aussie junior, just curious if you're familiar with it.