sacksjacked
NES Member
I would say at least 90% are worthless holes in the ground. At least...
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Gold and silver prices are down
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sacksjacked
NES Member
KL, PAAS I bought in when they had known/verified reserves and plans to mine it were kicked into gear. Those two have been my stellar winners. My one regret in investing, not buying much much more PAAS warrants when they were offered. Would have retired back in 2007 and been very well off as well as multiple generations after me. Should have bought the full allocation that was allowed me.You should reconsider.
Kinross buying Great Bear for $1.8 billion. Kinda disappointed as usual when a favorite junior gets bought out but at least it’s at a premium.
Kinross Gold to Acquire Great Bear Resources for C$29.00 per Share, Plus a Contingent Value Right
Significant premium of 40% to Great Bear's 20-day VWAP on the TSX-V for Great Bear shareholders Option to select cash or Kinross common shares as c...www.juniorminingnetwork.com
Looks like you hit stage 3 of the Lasonde curve which is probably the best entry point. Well done.
Yup, a good watch and confirms my thoughts on a disinflationary event sometime after the new year.
sacksjacked
NES Member
Warrants is where the major players concentrate. If you have done your DD and are getting in at the ground level, if warrants are offeres you scoop those bad boys up. I had serious DD info on $PAAS at the time, was offered a good allocation, but decided not to take it all. Took me about 5 years to get over that major mistake. Now I concentrate on finding the next $PAAS
Varmint
NES Member
It’s complicated. Inflation isn’t necessarily good for gold if it means a tighter Fed. And in past big inflationary periods, gold initially did poorly and then did very well. Finally, inflation traditionally causes investors to get out of stocks and into gold, but we’re in an environment when stocks always go up. Why buy gold when buying every dip in stocks is a winner?
Warrants is where the major players concentrate. If you have done your DD and are getting in at the ground level, if warrants are offeres you scoop those bad boys up. I had serious DD info on $PAAS at the time, was offered a good allocation, but decided not to take it all. Took me about 5 years to get over that major mistake. Now I concentrate on finding the next $PAAS
There’s a couple problems with warrants, one being it’s very hard now for US-based investors to do private placements of TSX junior miners due to new rules. My newsletter guy David Erfle has mostly stopped doing private placements for that reason.
Second is that these days the best junior miners mostly don’t need to do warrants to get financing. So if you’re after warrants you’re missing some of the best companies.
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sacksjacked
NES Member
Times are good these days for the industry. In tough times the warrants deals are more readily available and at far better terms.
Lucky for me, I guess...I’m only in it to hold onto it in case shit gets crazy. I just like understanding the ‘why’ behind things when possible too. Thanks again!
Varmint
NES Member
The last four times the Fed started a new rate hike cycle, gold and silver bottomed and started a new bull run. So we might have to wait for the first Fed rate hike before we see new gold highs. It’s counterintuitive because rate hikes are supposed to be bad for gold but it’s like sell the news events, gold bottoms in anticipation of higher rates.
Varmint
NES Member
Good that neither was bought out at that stage, cause you’d have made only like 40% instead of multiples. Great Bear’s future mine might be bigger than Kirkland Lake’s Fosterville but those gains will be watered down by Kinross’s $7 billion market cap. Even if you find the right stock it might get taken out at a crappy premium.
What do you think of Yamana taking a position in Benchmark?
Varmint
NES Member
More indication it will become a mine. I don’t own it anymore but if I did I’d hold onto it. It hasn’t really sold off either or I’d have bought back in.
Yeah it got down to like .71 at the lowest. I had it for awhile too. Thinking about it but there are so many cheaper ones out there.
sacksjacked
NES Member
Kinross stockholders I dont think got a good buyeith that deal upon reading a couple reports who break down the numbers. Good for Great Bear though.
Varmint
NES Member
Good buy for Kinross but I think the problem is Kinross shareholders won’t benefit from drill results like if the property were still a junior miner, and it’ll be years before the region will be producing gold. It’s such a large deposit that it’ll take a long time just to map it out. Long term it’ll make Kinross a ton of money. But I’m going to take the buyout cash and put it into other juniors.
Varmint
NES Member
Yeah it’s on Erfle’s wishlist but too expensive relative to other opportunities to make it a buy right now. I think silver juniors are a great buy right now especially if silver goes to $21. I don’t think it goes to $18.50 cause the disconnect with physical retail silver is just too large.
Defiance Silver, Aftermath, and both my newsletters like Silver Dollar Resources. Alexco could be huge as one of the few silver deposits not in Mexico, which is becoming a jurisdictional risk.
I like argonaut gold at its $2.50 price, I think it can be a 10 bagger. New Found, Labrador and Matador are great buys right now, down 60% with no change in their stories. Lion One Metals is a steal at $0.80.
All are on my short list too.
That’s not a small buy at Friday’s close
sacksjacked
NES Member
The preliminary resource estimate was not done yet. Kinross bid as if it is done and it's a done deal. Time will tell. They should have properly evaluated the ore body before bidding imo.
Varmint
NES Member
Great Bear hasn’t done a PEA cause the deposit is too large, a PEA at this juncture didn’t make sense for it would vastly underestimate the value of the property. Kinross was smart, the naysayers just don’t know much about Great Bear.
It’s why they went ballistic when the rest of the gold market is in the toilet.
Ouch. Argonaut had double bad news. $510 million estimates for mine production increased to +$800 leaving a +$400 million shortfall. And the President/CEO resigned
Varmint
NES Member
Ouch. Argonaut had double bad news. $510 million estimates for mine production increased to +$800 leaving a +$400 million shortfall. And the President/CEO resigned
I think he was fired because he kept details of the cost increase from investors, or maybe just due to the miscalculation itself.
Since the whole point of that Magino property was to decrease Argonaut's cost per ounce, it's a bit of a disaster that they now will need to raise an extra $300 million at a bad time to be raising money. Don't recommend bottom fishing with so many other stocks having sold off for no reason.
Luckily I didn't have enough cash to buy more than a small position, I was about to buy more after selling Great Bear today - but won't after this news.
Varmint
NES Member
Bought Sokomon Minerals (and a few others) today - was waiting to see if Erfle gave the company the green light and he did.
Miners are on a fire sale right now. Hard not to go wild on purchases.
Varmint
NES Member
Corey Fleck on a KE Report podcast today said "I feel like they're telling me they brought out all this new food at the buffet. Great, but I'm already full."
![[laugh]](/xen/styles/default/xenforo/smilies.vb/012.gif "Laugh [laugh]")
Varmint
NES Member
Every single gold analyst is uber bearish on the short term, except maybe Dave Erfle. My hope is that’s a sign we’ve bottomed since the vast majority is usually wrong.
Gold is $1790, we really need to break $1825 to get the trend going in the right direction again. Silver is back above $22.
Gold is $1790, we really need to break $1825 to get the trend going in the right direction again. Silver is back above $22.
I hope so Chris. I’m afraid gold will take a tumble hardcore soon as risk on stays the theme. I wanna console myself that my mutual fund FSAGX with a ytd -17% is a good bet to keep pouring employee and employer money into with the outlook that I’m buying the dip like its a mini 2015-16 bear season.Every single gold analyst is uber bearish on the short term, except maybe Dave Erfle. My hope is that’s a sign we’ve bottomed since the vast majority is usually wrong.
Gold is $1790, we really need to break $1825 to get the trend going in the right direction again. Silver is back above $22.
Meanwhile ytd for energy, semiconductors, and housing have been +50-75%
Can I make a bold assumption and say gold might go down to $1400-$1500’s in Q1 2022 with one last opportunity to make a “back up the truck” purchase? Not saying wait for it but if we see it you know what to do.
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