Jim Sinclair was asked about miners about half a dozen times. He tried to refuse to endorse specific stocks, but he personally endorsed Rob McEwen (MUX) as someone who is on fire and who "believes". (On the other hand, Sinclair suggested that McEwen should diversity and get some mines outside of just South America.)
Overall, what Sinclair had to say about miners was what he has been emphasizing for quite some time now, i.e., the miners that will succeed are those that 1.) establish a fair partnership with governments (his is almost 50/50) and 2.) cut unreasonable operating costs and begin to pay hefty dividends to shareholders. Looking ahead a few years, he said that miners should be like utilities, paying high dividends but uninteresting.
Of course, he also spoke about how underpriced the XAU is. Historically, the XAU has been 20% the price of gold. Currently it's more like 8%, thus represents a good value.
He also spoke about his own company, Tanzanian, explaining that 4 out of his 5 ongoing projects would not be sold off to the majors as they were close to the surface mining and did not require the expertise of the majors. He was very, very proud of all the stellar work his company has done to date and promised that his companty's stock would not be diluted, i.e., no more shares would be issued, at which point the entire room
erupted in cheers!
So Sinclair dazzles you with the dividend talk again. You need to read some of the old press releases and annual reports. TRX used to have partnerships or royalty agreements with some of the majors. The majors all walked away. They were not interested in the projects then and aren't coming back now. 4 of the 5 projects are too small for any major to care about anyway. According to Sinclair, only one major bid on Buckreef. Since TRX won with a $3 million bid and they haven't done all that much, I doubt any company is going to step up and bid more. No more shares will be issued because TRX is not going to mine gold. If they were they'd need to raise $. SInclair is trying to talk the stock up to hold $4 then TRX gets $20 million from the exercise of warrants which is probably enough money to pay everybody and issue press releases for 3 more years. That is all TRX will ever produce, press releases.
So Sinclair dazzles the whole room with the dividend talk again. Are you suffering from premature Basher Syndrome? I didn't know you were on TRX board of directors. Breadcrumb trail....No issuing shares out the ying/yang. It's called a growth model, without Banksters on companies back.
Had you been around awhile, you would know these things.