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@Pete86 Buy buy buy
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@Newton lol
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@mountains_of_glory It's not just that they got financing done at a substantial premium to the current SP, it's that they got Newmont of all companies on board. The vote of confidence is tremendous.
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@lukejackson Very interested to hear the structure they'll take on partnering on exploration. NEM is a HUGE partner to take on.
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@dirkdiggler I'm really curious to see how this current drilling program plays out - the next 6 months should be interesting.
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@Pete86 Exploration potential is huge. We'll add millions of ounces. Best in class project
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@Floxl Pete,are you trolling? What happened to your bashing attitude?
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@Pete86 Changed my optinion
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@rdww Covered your short. Joined the safe side of the trade. Finally
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@Pete86 Newmont Changed everything
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@bslusarchuk Hope all of you are having a nice Mother's Day. I'm heading to a brunch shortly (just back from London on a very good institutionally focused marketing trip for K92) and looking forward to a nice Sunday. A week ago,I noted $CNL,$NSU and $ATY as my top three near term buys from the bottom (outside of $KNT and $KEN of course). RocketRed, who seems to be the best stock picker around right now (his track record on the contest, I see, is superb) noted in a post "CNL closed 2.71 41 cents from the year lows and there is no drill results pending yes they have an up coming program and with gold's direction today no point in being in a rush out there".........................so with that (and with deference to his stock picking ability (I didn't enter the contest and would be WELL behind him as my trading portfolio could prove), I thought I should raise this as a good trio of picks again. In the meantime, please pay attention to $KEN and $KNT for all the reasons I've described here in past posts. Cheers, B
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@bslusarchuk So, with all that said about $CNL, $NSU and $ATY............pay attention to $KEN and $KNT this week.........all the best, Bryan
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@dirkdiggler This could be a repeat of Gold Eagle: $AEM took a large position in GE's 'Bruce Channel' deposit which was soon followed by an all-out takeover by $G. $NEM's move on $CNL might just prompt a similar reaction from a resource starved predator lurking in the shadows. Time to come into the light ya big bully!
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@wannabeinvestor High quality deposits get locked up by the majors. $CNL first, now $ICG. Who will be next? $SBB?
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@wannabeinvestor $R is now one of my largest junior gold positions, I did take some profits in $CNL on Friday. I fully expect this to trade back to the 0.80 range in short order. The Q1 report may be an important catalysts.
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anonymous Trying to process what next steps might look like for $CNL. Now that Newmont holds a large position are they the only likely candidate to potentially take out $CNL, or could others still try? Trying to figure out if this might be where the price stays until sometime shortly before first pour.
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@mountains_of_glory Well, I haven't yet taken any profits in $CNL. Maybe I should have, but I'm just putting away my shares and not paying them much attention. It is obvious to me it's a matter of not too much time before the SP is significantly higher. We now know why the insiders were buying. They would have known a deal with the likes of Newmont was right around the corner.
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@Pete86 seems like rebalancing is still going on till mid june, going short again?
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@wannabeinvestor pretty confident Van Eck has sold most of their $CNL. trust what we see now is profit taking.
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@maplesyrup RBC Upgraded to 6 from 5.5, Outperform - Spec risk
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@Mr.Smokey I think it is not so much the GDXJ rebalancing, which is (officially) only due on June 17. More likely that traders are frontrunning the same, shorting now and seeking to cover with GDXJs shares when they sell. I wonder how large the short% on this and other 'rebalancing victims' has become, and if traders are not actually running too far ahead?
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@lukejackson Skies clear as to the narrative: is there something wrong with the project/ why are majors not putting in bids. to me this is now about OWNING a tier one asset (or as close as their is to one) in a jurisdiction that is improving. All told, at today's price I'd feel more comfortable buying than last week before the NEM announcement. Time to build a bigger position, for me. My avg cost is around here, its traded lower but never been as measurably de-risked as it is now. All the boxes are ticked for me.
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@lukejackson Coupd it trade lower? Sure. good risk/ reward now tho.
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@maplesyrup @lukejackson I think now that financing is done it will have some gold beta, and even more so after GDXJ is out of the way
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@dirkdiggler If gold does become more volatile going forward and $CNL's beta responds accordingly. The warrants will act like a Call option on a Call option (on gold).....similar to a Call on a Futures contract I guess (been a long time since I lasted purchased Calls on Gold/Silver Futures contracts).
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@dirkdiggler If gold does become more volatile going forward and $CNL's beta responds accordingly. The warrants will act like a Call option on a Call option (on gold).....similar to a Call on a Futures contract I guess (been a long time since I lasted purchased Calls on Gold/Silver Futures contracts).
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@maplesyrup I've found the warrants to be very expensive vs. call options of similar maturity (Oct). Any idea why?
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@dirkdiggler can't launch my trading platform on my cell maple.....no current basis for comparison.
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@mountains_of_glory $ELD takes $ICG. "The total transaction value is approximately $590-million, inclusive of Integra shares held by Eldorado." "Integra Gold Announces Updated Preliminary Economic Assessment: Pre-Tax NPV of C$602 M and IRR of 55% (After-Tax NPV of C$363 M and IRR of 43%) at US$1,250 per Ounce of Gold"
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@Goldfinger TD out with bullish note on $NCA with a C$2.00 price target. TD sees us in the early stage of a gold mining reinvestment cycle. The early stage of the reinvestment cycle is marked by cautious investments such as strategic investments ( $NEM/ $CNL), joint ventures, and deep value/synergistic acquisitions of small to moderate size (Goldcorp/Exeter). As the cycle progresses the focus will turn to growth and $NCA is one of the few juniors with a " robust development project of a globally significant size in a geopolitically safe jurisdiction." TD goes on to write: "We believe that the company is currently a candidate for a strategic investment by a forward-looking senior/mid-tier and may become an outright acquisition target once the project is de-risked."
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@Goldfinger The best way to shut up detractors is to produce results. I noticed that Otto changed his tune on $CNL after the recent $NEM investment. It's tough to argue with success.
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@maplesyrup Looks like the gold beta is back :)
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@TheGalvanizer Well you should remind yourself of your conviction buying on the $CNL @lukejackson
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@dirkdiggler We should hear something about exploration (and infill) drilling at Buritica pdq $CNL
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from #index,
@marketwired Continental Gold Announces Closing of Strategic Investment by Newmont Mining and Investment by RK Mine Finance @marketwired/continental-gold-announces-closing-of-strategic-investment $CNL $CGOOF #news/mining
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from #newsroom,
SEDI_bot Continental Gold Inc. $CNL just filed 1 reports. View full report: SEDI:CNL
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from #insiders,
SEDI_bot Continental Gold Inc. $CNL just filed 1 reports. View full report: SEDI:CNL
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from #insiders,
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@0Kib Looks cheap at 1.5x potential one year cash flow. $411/oz cash cost net of Ag credits for 0.25m oz annual production and 14 year LOM. Producer in a couple of years. This could be very valuable in an upcycle. Maybe I should buy some. #Gold $CNL
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@wannabeinvestor Very high likelyhood for material addition of oz b/w now and the start of production, too.
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@0Kib Yes. And those grades (8g/t Au) are insane. No wonder NPV/Capex is nearly 3x, which is also compelling. I can't believe it is on fire sale
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@wannabeinvestor Many distrusted Sussman, citing his past at Colossus Minerals. Also there were rumours that $CNL did not let large mining companies to do proper DD on the asset, some did not like the narrow veins they have, etc. I have some out of the money warrants, these look likely to expire worthless unless the stock will rally hard between now and late November. I have therefore built a position in shares as well. It is one of the best development plays out there, especially now that it's fully financed.
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@wannabeinvestor Put my kids in this stock with 4% position... the only development stage gold play in their books.
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@wannabeinvestor @Ty, nice potential script. hope it plays out and I get to make a killing on the warrants
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@0Kib There is no way this stays put without being fully taken out within the next 12-18 months. Such grades are just not available anymore. These are 8x global average. At say $1800-2000/oz the payback period would be just about a year (its just 1.8 years at $1400/oz). Acquirer can make insane amounts of money if the cycle plays right. $CNL #Gold
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wannabeinvestor NEM signed a standstill agreement until the mine is in production. If another bidder came along, I would think this clause gets waived.
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@0Kib @wannabeinvestor hmm..the standstill agreement makes it more interesting. Although we don't know the specific clauses in there yet, in general, it would ensure a negotiated final takeover (usually better for the prey) while not precluding a superior alternative. The closer they get to production, the greater the likely value realised. This recent investment at C$4 per share happened at ~0.5x NPV. If they hold on for awhile, the NPV goes up amid a rise Au prices and/or increase in resource size and they potentially get a greater % of that in a full takeover. $CNL
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