|
Christobevii3 posted:Silver is almost slapped back to being 14, like i like her... Au/Ag Ratio is almost 70 oh god  CDE results were pretty awful in 3Q09, and I think the fact that they've continued drilling and development of Kensington is going to hurt them in the 4Q results as well. Although once that comes online later this year its an additional 120,000 oz/y of gold into revenue after ramp up, and they just announced the discovery of a new mineralized system. Now that I think of it, why aren't I long on CDE while I've got the chance.
|
#
¿
Feb 5, 2010 02:21
|
|
|
|
| # ¿ May 3, 2024 08:53 |
|
|
Free Gucci Mane posted:Is short-selling really that much harder than just normal trading? Like take for example CDE, a mining company, that was up near 20 a month ago and has plunged steadily since. Would I be able to short-sell CDE shares while it was plunging--would my brokerage be able to loan shares or whatever to me and would people actually be willing to buy those shares? Interested to know if you did this. CDE down 8.57% today.
|
|
#
¿
Feb 9, 2010 00:47
|
|
|
greasyhands posted:This is an old school company that has been around for a *long* time and for some reason in the past 5 years or so the market has decided it is some kind of spectacular and unique growth stock, rather than a stock in an admittedly hot commodity space. Because during the build-up to '08, the price of potash went through the roof, and Potash Corp of Saskatchewan controls a ludicrous share of the potash supply (Canada having roughly 75% of worldwide production capacity). Demand has been down for the past two years though, and several majors are moving into potash mining now (BHP is the only one I can think of off-hand), so the supply-demand fundamentals are going to be pretty screwed up for the next few years. I don't quite think POT is a great investment. Now lithium on the other hand; lithium is a pretty tight market with most production in Russia/East Asia. I told Christobevii3 my picks yesterday for domestic lithium hopefuls (WLC, EFG, and CLQ) with the intent of buying tomorrow morning at open. EFG shot up 20% right before close. Pfft. (Full disclosure: I'm a supply-side mining analyst and I don't work for any of these companies.)
|
|
#
¿
Feb 12, 2010 03:06
|
|
|
11b1p posted:I am hoping it gets to around $130-135 a share by august or so. I chose it because I think China will be importing mass quantities, with no slow down in sight. Counter-point though, most other countries agriculture industries have stopped buying fertilizer in the hopes that they'll make it through another harvest without it. vvv: Gotta start somewhere indeed. I'm also 23 and my friends think I'm crazy for saving and investing and fiscal responsibility. ElehemEare fucked around with this message at 15:40 on Feb 13, 2010 |
|
#
¿
Feb 12, 2010 16:45
|
|
|
Mr. Wynand posted:most of my savings sit in high interest GICs which i was lucky enough to buy before the government rate dropped through the floor Yeah. I spent a long time looking at the GIC rates on royalbank.com last night and just facepalming.
|
|
#
¿
Feb 16, 2010 00:33
|
|
|
Ned posted:Don't be afraid to invest in something you believe in. Just because the stock is cheap doesn't mean the company is bad. It just means investors are scared. If you aren't afraid when everyone else is then you stand to reap rewards once things stabilize and everyone else stops being afraid and jumps back on the bandwagon. This, so much this. My coworkers thought I was crazy for buying into Chariot Resources at 31c/share, even though they had a solid copper project and were dirt poor from getting it to that point. China Sci-Tech Holdings just made a 67c/share cash offer for the issued share capital 
|
|
#
¿
Mar 2, 2010 22:22
|
|
|
Hobologist posted:Also, if they were dirt poor from getting the copper project going, what if the copper project were unexpectedly delayed a few more months? Did you do any sort of stress testing or anything like that? The project was delayed indefinitely until a buyer could be found. There was no way Chariot was going to be able to raise the capital, or had the expertise, to build and commission it themselves. As such, they stopped spending any significant capital and sat on their reserves until a buyer came along (they developed the project to shovel-ready status; permitted with positive feasibility studies, just awaiting funding). They may/may not have severely cut their executive compensation in early '08 as well. Someone from China coming along and buying a ready-to-build copper mine in Latin America was pretty well inevitable.
|
|
#
¿
Mar 3, 2010 01:54
|
|
|
Hobologist posted:So they couldn't get the funding to operate at a profit, but they could convince a buyer that the mine could be bought and operated at a profit. They couldn't get the financing to build the mine because they're a bunch of exploration geologists who developed a resource to the point that you needed to spend half a billion dollars to see profit. They also completed their studies in April '09: not exactly the best time to go to a bank and ask for US$650 million in debt financing. Mind you, the studies were pretty solid; producing at the (independently) projected costs of US$0.88/lb Cu would turn a profit even when prices bottomed out last year. I stand by my investment as calculated risk and not a lotto ticket. Also, for reference: major mining companies rarely make any discoveries. Junior Exploration companies are wildly risky investments until they actually find something, but the lucky ones get to the point that a major is willing to buy them or their property and actually earn some money. And hopefully you retain a royalty, or in some cases a direct interest in the project. Due to the obvious lack of solid cash-flow in the majority of Junior's (since the vast majority of exploration funding will come from equity raisings), the attrition rate is pretty high.
|
|
#
¿
Mar 3, 2010 04:59
|
|
|
Hobologist posted:I admit I'm not an expert in mining (or economics), but it seems kind of wasteful that you have to identify a mining property, go into the equity markets, buy it outright, and then do the analysis. If the business is so dependent on talented geologists, would it really be impossible to get the geologists in there before the IPO? Well, with the Junior mining companies, the entire business model is based on getting geologists out there. They identify some prospective land, spend a few million on exploration permitting, surveying to identify targets, trenching, drilling etc to prove that conceptual target to a resource. Then they try to joint venture it to a major who will fund further work, or sell it. That further work includes a ton more permitting hurdles, environmental assessments, public consultations, and economic analysis. If you can produce a feasibility study that says you will be profitable if you build this mine, THEN you can start trying to get actual project financing to build a mine. However, given the way metals and share prices went last year, most juniors were unwilling or unable to raise the kind of money you need to actually get metal out of the ground. In the typical case, a Jr will prove a resource and hope for a partner. In the case of Chariot, they went through the next stage of hurdles and finished a feasibility study. In effect, majors leverage the risk of exploration onto a junior, pay them a share of the defined value, then reap the benefits. Dead Pressed posted:As a mining engineer (student), I can vouch for the ungodly number of hoops that have to be jumped through before you can start making any money. There is so much behind the scenes crap that has to be dealt with that a lot of people may not take into consideration. Government permitting not being the easiest of problems to contend with. God this industry gets screwed. e: I didn't post my CHD entry-point because I don't even know if I was reading BFC then. ElehemEare fucked around with this message at 22:22 on Mar 5, 2010 |
|
#
¿
Mar 5, 2010 22:13
|
|
|
Further from my chariot resources/china sci-tech not-gloat post, Aus goons may want to look at CFE. A$135 million cash offer from China SciTech to acquire a mothballed copper mine. Needs FIRB approval though.
|
|
#
¿
Mar 12, 2010 15:42
|
|
|
I WANT TO EAT BABBY posted:I liked it better when people didn't talk about penny stocks. At least the sub-$1 stocks I'm talking about are established/semi-established mining companies with near-term assets and millions in market cap.... right? Just want to make sure I'm not making GBS threads up the thread. That guy who wants to buy a controlling share in SNLM is pretty well out there though.
|
|
#
¿
Mar 13, 2010 03:57
|
|
|
Ned posted:Well, I find SLNM to be kind of interesting. They are actually a pretty well established brand and that alone should be worth more than their market cap. They have a bit of debt but nothing too crazy. Underwater shareholder equity, ($3.7 million) in working capital is nothing crazy to you? If that's the case, have I got something to sell you...
|
|
#
¿
Mar 13, 2010 14:35
|
|
|
Thank god we've got EDGAR to investigate these baseless theories.8-Q posted:On May 15, 2009 Salon issued to another investor a convertible promissory interest note in exchange for loans with a principal amount of $38. The note bears an interest rate of 7.50 percent per annum, payable annually, in cash or in kind, and matures on March 31, 2012. The note issued on May 15, 2009 may convert at the election of the holder at any time into a number of shares of Salon’s common stock equal to the aggregate amount of the note obligations divided by $1.45. There are also 9,467 preferred shares on issue, valued at 10,088,512 common-equivalent shares ($605,300).
|
|
#
¿
Mar 14, 2010 15:54
|
|
|
Hobologist posted:Poor ALN. So close... I just pulled up the chart for CVE:ALN on Google Finance (Aldrin Resources Corp) and was confused as to why you would be confused by a Jr Gold miner with no 43-101 numbers going down. Then I really wished we prefixed symbols with exchanges after noticing you probably meant American Lorain Corp. At least it popped before it dropped. If it makes you feel any better, I'm down 1.5% on the day, 4.5% on the trade for CVE:WLC. Stupid me and my stupid dedication to my stupid long position on a stupid lithium company. For anyone reading this thread and thinking about getting into investing, this is an example of what NOT to do. That is, get emotionally invested into a particular symbol. Oh well.
|
|
#
¿
Mar 31, 2010 01:37
|
|
|
I did something stupid. I went long on Crew Gold after they filed the year-end financials and took a massive drop when people saw their loss incl. exceptional items. I didn't do any due diligence on what was going on with them currently because I'm an idiot, and already knew what was going on operations-wise from covering them at work. I've broken even, but turns out that Endeavour Financial and OAO Severstal are in a battle for control of the company. If they sustain their bidding war and drive the price up, that would be great. But Severstal has called for an EGM to remove the board and replace it with its own nominees. Clearly a move like this is going to reduce confidence, but should I cut and run do you guys think? Thanks.
|
|
#
¿
Apr 10, 2010 22:33
|
|
|
PsychoAndy posted:It's a zero-sum game. An investor is actually playing a negative-sum game. Cost of commissions puts you two-steps back as soon as you enter, and you need to get back to neutral then past your exit commission before you break-even. 10% hit on my troubled gold-producing Jr play today. Ughhhhhhhhhhhhhhhh. Just have to hold out for a positive quarterly earnings.
|
|
#
¿
Apr 15, 2010 00:41
|
|
|
Jack posted:For those people who look at charts this looks almost exactly like what happened before the large drop in Q4 2008. Same absurd market caps too. Well if my holdings never recovered I have nothing to fear. Right? RIGHT?! 
|
|
#
¿
Jun 15, 2010 23:59
|
|
|
|
| # ¿ May 3, 2024 08:53 |
|
|
Does anyone in this thread use RBC Direct Investing? I contacted their tech support about this but got a ridiculous answer. (blurred to protect my dignity at how poorly this trade went) This company moved from the TSX-V to main TSX on June 23rd. I haven't been logging in to my Direct Investing account that often, but today I did after it jumped 24%. The problem is what you see in the screenshot. Rather than display the stock symbol of CLQ, it's displaying C109774. The price is neither the price upon moving exchanges, or the price it's currently trading at. Under the action heading, there should be Buy / Sell links, but there isn't. Tech support told me they were "waiting on some new data from the exchange" and to wait it out for at least a week. Has anyone else experienced this? tl;dr RBC Direct Investing has high fees, lovely support, and a rubbish trading platform. e: Email support clarified that it's the transfer agent being slow as poo poo, not "some new data from the exchange". Phone support is dicks. ElehemEare fucked around with this message at 23:33 on Jul 21, 2010 |
|
#
¿
Jul 21, 2010 22:20
|
|