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@HRA-Coffin I have my own reasons for looking into the $UGD situation obviously, namely $GQC and $PRG. At this stage I don't think the Unigold situation tells us anything negative in general Dominican level. I won't bore you with the history but, for a variety of reasons, $UGD has total concession holdings that are way, way over the 30,000 ha per company limit. This isn't news, nor is it news that the DR authorities wanted Unigold to do something about this. There was a flurry of option deals a few years ago with associated companies that were an attempt to deal with this problem. Most of those projects ultimately came back to $UGD so they had the problem dumped in their lap again. The concession holdings may not be the only problem but it's certainly not helping so you may see $UGD drop some of the less interesting concessions to bring their total holdings down a bit. It also sounds to me like they started the renewal process only a few months ago, which is a lot later than they should have. The DR is SLOW when it comes to this stuff which more experienced hands take into account. If the intent is to renew the concession after letting the Unigold guys sweat a bit then the ministry won't let anyone else overstake it or anything and the tenure will be fine in the long run. Unigold may be able to get some backing from GoldQuest and Precipitate, or at least some sympathy though, frankly, they don't deserve it. Every time I have seen them do a presentation recently they have dumped on both $GQC and $PRG which is ridiculous given GoldQuest's project is far superior for a number of reasons. Why Unigold management would think crapping on their neighbours is in any way a smart strategy is beyond me, but that is what they were doing. It's quite possible this will still work out but if it doesn't, $UGD should not be surprised if the only reaction they get, especially from GoldQuest is along the lines of "Oh well. Sucks to be you".
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@DJS $GQC's latest discovery was only over 5 meters, but using Kitco's rock value calculator it comes out at just over US$1,000 per tonne! I expected it to be in the range of $700 to $800 but not over a grand! http://www.kitco.com/pop_windows/kitcorockcalc.html
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@LucTenHave CIBC is accumulating
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@kjm GQC sitting on nice launchpad
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@MiningBookGuy @Stealinator RE: https://ceo.ca/index?627f49443b52 - thanks for posting, didn't realize @TheNextBigRush just published this segment! forgot so many things I said in this from Dec 2016. adding a few tags i mentioned: #explorationinsights https://www.explorationinsights.com/pebble.asp?relid=1378 @brent_cook @JMNorthShore shout-out: @teevee $NRN $GQC (*note - with recent $GQC #discovery, it has more current potential than what I implied in the commentary) glad @jayfire got at least 'something' in near the end! if we do another one of these, "I promise" to talk less and listen to @Jayfire @TheNextBigRush! :P #mbgtrends
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@LucTenHave Goldquest $gqc trades as if there is news coming. Of course there are drill results coming but maybe even something else that requires the share price to be around 50 cents. Probably not a takeover.
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@tommy Here's the Agenda for the #SubscriberSummit tomorrow! 9:20am-4:00pm at the Hilton Hotel in Downtown Toronto. http://cdn.ceo.ca/1cbisht-SIS_Agenda_Toronto_HiRes-Linked_Feb28-2017%20%28002%29.pdf Hear from top execs at $SBB $ERD $AAN $CNL $SIL $TMQ $MOX $GMV $MIN $PMI $PIF $LLEX $TKX $ROE $GQC $GMP $LIX $BIOA $IKM. Learn from and connect with @KeithSchaefer, @HRA-Coffin, $GMP founder Gene McBurney, $NXE champion Warren Irwin and I. @tommy/save-the-date-subscriber-summit-march-4-in-toronto good coffee and chow is provided, and we'll put Keith's credit card down at the bar later. See you there!
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from #index,
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@joegreatwhitenorth $GQC $NHK and $WDO also showing strength leading up to the Big Drunk in YYZ.
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from #cdb,
@newswire Agnico Eagle announces investment in GoldQuest Mining Corp. @newswire/agnico-eagle-announces-investment-in-goldquest-mining $AEM.US $AEM $GQC
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from #newsroom,
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@Onlyflaws Interesting!
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@marketwired GoldQuest Announces C$22,860,000 Strategic Investment by Agnico Eagle @marketwired/goldquest-announces-c22860000-strategic-investment $GQC $M1W $M1W
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from #newsroom,
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@Jayfire Wow $0.60!
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@Onlyflaws Really nice premium!
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@racker $GQC lands $22.86 million at 60 cents per share from Agnico Eagle $AEM, a 28% premium to Friday's Goldquest close of $0.47. @newswire/agnico-eagle-announces-investment-in-goldquest-mining
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from #index,
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@LucTenHave Wow that's an interesting deal
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@LucTenHave But lets be honest. Its a very good deal for Goldquest. But also for Agnico Eagle. 60 cents is a very good premium and I am not complaining, but its still cheap. Well done $GQC management
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@Onlyflaws @LucTenHave I think its good deal for everyone. And Im definitely not complaining. :)
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@LucTenHave I am curious what Rob McEwen's opinion is. I always expected him to make a move with $MUX
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@Onlyflaws Looks like Agnico is taking foothold in the juniors. First Otis $ooo now $GQC. Who's next?
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from #index,
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@courtninja News releases out from $ART, $BE, $BKD, $CNZ, $GQC, $JEN-H, $PRB, $UVN. #ninjapicks
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from #ninjapicks,
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@Vaughan Question on $GQC. Kaiser says the equity buyin by agnico eagle at $.60c is a huge deal. Kaiser says $GQC is the type of company he really likes, and that it he has it recco'd in his letter. $GQC is curently trading at .54c , a 10% discount to $aem cost .marketcallPDAC
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from #index,
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@Finanzr And @luctenhave was right, when he pointed out that "$gqc trades as if there is news coming ... that requires the share price to be arunt 50 cents". Respect! I like the deal... :)
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@DJS Agree with @Finanzr -- props to @LucTenHave. It's hard to complain about this deal, but since I think that $GQC was already significantly undervalued at $.50, it's hard for me to be excited about so much "dilution", even at a good premium to the current share price. But agree that adding significantly to the treasury at a premium is never a bad move by management, so while I think this is relatively a better deal for Agnico eagle than it is for $GQC, I can't really complain (even though I just did).
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@moonshot5 I took a profit on 20% of my $GQC. It's fun to do when everything else is down.
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@marketwired GoldQuest Closes C$22,860,000 Strategic Investment with Agnico Eagle @marketwired/goldquest-closes-c22860000-strategic-investment $GQC $M1W $M1W
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from #newsroom,
SEDI_bot GoldQuest Mining Corp. $GQC just filed 2 reports. View full report: SEDI:GQC
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from #insiders,
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@Onlyflaws What does it mean that McEwen had a "90 - Change in the nature of ownership" of 5m shares? I tried to find some info from SEDI but had no luck. TIA.
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@ivopashov @onlyflaws Movement Within Accounts It’s always a good idea to remind insiders that any share movement of previously reported transactions from one account type to another must also be reported on SEDI. For example, when movement from a TFSA to an RRSP or direct holdings to an RRSP account occurs the transactions are required to be filed on SEDI within 5 calendar days and would be reported using the transaction code 90 – Change in the nature of ownership. That's what i found online.
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@Onlyflaws @ivopashov Thanks! Do you have any idea why this transfer between accounts occur, whats the possible benefit? I have no clue about the canadian account systems.
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@ivopashov me neither, sorry
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@Vaughan @Onlyflaws, we have several types of accounts that can hold shares. First is a simple non-registered account (regular account - registered refers to accounts specifically create by the gov in the tax act so as to encourage saving). And gains a non-registered account are treated as regular income and capital gains. Second is the rrsp account (registered retirement savings plan). This account provides an income tax deduction for the amount transfered in and shelters all taxes made in the account until you withdraw it, at which point the withdrawn amount is added to an individuals income tax equation for the year. The third account, tfsa, is also a registered account, however it differs from an rrsp in that it is after tax dollars you put in (no income tax deduction) and any growth in the account will never but taxed.
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@Vaughan So, lets say your personal tax rate inn 50%. Now lets say you have 10k of gqc in a non-reg account. Now, based on your income, you are allowed to add up to 18% of your income in a rrsp, or 25k, whichever is lower. So for example here, lets say 18% is 10k room created in your rrsp this year, and you have 5k room created in your tfsa per year regardless of income level (fact). If you were to transfer the 10k shares of gqc from your non-reg account to your rrsp, 10k would be deducted from your annual income for the year, triggering a tax refund of 5k (remember your tax rate is 50%). Further, if you sell those shares in a year for 20k, no tax is paid on the capital gain and can be reinvested immediately. Only when you begin to drawdown your rrsp will the amounts withdrawn be subject to tax at your personal income rate.
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@Onlyflaws Thanks @Vaughan for clearing that up! Just basic tax benefit games then, good to know.
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@Vaughan Yup, all tax planning.
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SEDI_bot GoldQuest Mining Corp. $GQC just filed 2 reports. View full report: SEDI:GQC
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from #insiders,
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anonymous <<Running to bank to get a second mortgage on the house just to fill my boots with more $GQC
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@LucTenHave @anonymous you got your 2nd mortgage?
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@LucTenHave Someone is selling lots of shares
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@LucTenHave I think we can expect some drill results this week.
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@Onlyflaws I expect you are right @luctenhave its been two months since the discovery hole.
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anonymous http://www.northernminer.com/news/pdac-2017-agnico-eagle-buys-15-goldquest/1003784274/ - Ashort recap of $AEM investment in $GQC. @luctenhave expects we may see drill results out of $GQC this week.https://ceo.ca/@luctenhave?51b9fec2a550
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@zeus Agnico-Eagle is not putting almost 23 million into GQC for nothing, imo
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@zeus They either know or have a pretty good idea of what the future holds
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@HRA-Coffin Prospective miners hate streaming deals in part because potential acquirers hate streaming deals. They view them as being the equivalent of a large royalty that adds to fixed cash costs. I think royalty/streaming companies that were active two years ago will end up looking smart (if the individual deals were) but in a better market they will find themselves overpaying. Juniors with projects that look viable will be asking for the moon because they know putting a stream in place makes them a much less appealing takeover target. I know for a fact, for instance, that $GQC has had basically every streamer on the street trying to do a deal on Romero. Bill has turned them all down because he feels when the time comes to do a financing package he wants maximum flexibility as he will be shipping a copper con. He thinks he'll get a better offer with less strings, or at least strings he's not worried about, with a smelter at that point as he's got clean concentrate to sell.
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from ~zinc,
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@Onlyflaws 400k in ask...nice damper.
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@dirkdiggler $GQC and $UGD (plus perhaps $PRG) could also get a group-hug going.
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@dirkdiggler strange that my last 2 posts on $GQC $UGD n $PRG went anon (ghost in the machine?) #Feedback
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@LucTenHave When will we see news here? Drill news, financing news, permitting news...
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