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Pinetree Capital Ltd. Message Board

  • ch848932 ch848932 Mar 24, 2011 3:27 PM Flag

    I'm out for now

    Just saw news release of latest company PNP bought: Sunset Cove Mining

    Sunset's drill results are here:
    http://finance.yahoo.com/news/Sunset-Cove-Mining-Announces-cnw-3578339353.html?x=0&.v=1

    "The first diamond drill hole CA-10-01 intersected 58 meters of mineralized core revealing 0.019 g/t Au; 1.59 g/t Ag; 0.11% Cu; 0.053% Pb and 0.711% Zn. Including a 28.3-meter section with 1 g/t Ag and more.

    The second diamond drill hole CA-10-03 intersected 60.95 meters of mineralized core at 1.76 g/t Ag; 0.01% Cu; 0.03% Pb and 0.42% Zn. Including a 42.1-meter section with 1 g/t Ag and more. "

    Those grades are so low that it is almost the same as dirt!

    The typical good producing silver mine has 300 g/t Ag. Sunset has 1 g/t Ag. That's not even economical!

    I personally wouldn't invest in these high risk penny stocks. I'd rather buy a good producing silver company like AXU that has super high grades, some drill holes with 1900 g/t Ag, 5% Zn/Pb.

    Maybe some of their other companies are better, but they invest in too many penny stock lottery tickets for my tastes. It takes many years for an exploration company before it even produces a single oz. By then the metals boom may be over. If a company is a bust, it would be impossible for a large % holder to get out. Under NAV or not, too risky for me. I guess PNP is at least good at funding and creating jobs for risky startups.

    Good luck to any other holders.

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    • <<<< but they invest in too many penny stock lottery tickets for my tastes>>>>

      --- IMO, you should NOT be in PNP..... ever!

      PNP is ALL ABOUT shotgunning "hard asset" stocks, (at perceived bargain pricing), particularly canadian origin. As such, PNP is guaranteed to be a major winner as this "hard asset" bubble continues inflating ---- & inflating it will!!

      gl on your trades

      smoot

    • Just remember "You can't win them all". So one out of 50-60 penny stock companies is not worrying me.
      Your point about producing silver mining companies is taken. My suggestion is PNP for spread and may be GPR and SPM for producing silver mines.

 
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