Alex, that is not how a long pennant works. Usually if the trend exits the end of the pennant towards the point then the whole pennant activity becomes moot and the trend continues to go sideways. Almost as though the pennant has dissipated the energy that existed when it began. Of course with PM and PM stocks right now the manipulation is so bad that the technical information has been less than helpful, but that is another question and off point. glty
And all the support numbers, i.e.: grades, volumes, base metals, cash flow, other costs, drill results, etc. were about as good as could have been expected. Very solid results for the first two quarters of 2014. I expect more of the same for the rest of 2014 unless some huge macro event causes further disruption. glty
Sam, that's the best you have? The resource might run out? They have explored less than 2% of the property and have had a fairly consistent stream of at least decent drill results over the last year and suddenly the resource is just going to run out? No supporting facts or anything, just ignorant comments from you. He let me do better. The Mexican government might decide either to Nationalize the mines or charge some type of extraordinairely high tax that for all practical purposes destroys the profitability of the mine. There something to really worry about. I have others but their mine not yours.
And then turning the Canamex acquisition at .09 which is now at .20 into a negative is also quite a trick. And BTW, I like the Canamex acquisition since it helps to eliminate some of the risk from my negative scenario which I consider much more likely than yours. You are such a little sh-t. bye and back on ignore you troll.
Nast, I'm not missing any point. You weren't there at the time. I was livid, but Bill is gone despite the minor consulting job which is meaningless and I have seen absolutely no signs of a continuation of this behavior from Jason. I see many other shortcomings in Jason, but Bill habit of overselling is very much not one of them. In fact if anything, I believe, and this is from watching Jason's responses to comment by Bill from a few years ago, that Jason is truly embarrassed by some of Bill's behavior and intends never to repeat it.
Since there once again seems to be so much noise going on about Bill, been there done that, that this implies that there is not any recent news that can be manipulated into supporting short positions, except of course the macro situation which is obviously outside of the control of Goro.
Assuming a continuation of the present macro environment the Goro ship does seem to have at least righted itself and as we all know the Canamex investment, unimportant as it is, has also at least for now been a success. Nothing wrong with buying at .09 and having a current stock price of .19.
Also tonnage is also slowly and steadily increasing, cash flow has turned positive (which at these prices is very positive), grade levels have remained steady, targets (though definitely limited) have been reached, and the noise has stopped. These are a full bucket of small but significant steps, especially for a small Junior miner in this environment that had a reputation for very different behavior.
As I have stated before, with the no debt and other strengths, the new Canamex position, extensive area still to explore, Goro looks like a legitimate though risky longer term holding at these prices. I was happy to see the price come back down from over 5.50 to around 5.18 and I am a buyer at these prices. Jmho
Bead, I believe you applied some of my comments to Hockey, though I could have missed something. There is no question that Bill Reid could have done much better, and as you remember I was livid about some of the operational shortcomings that occurred. But as I have often mentioned, it is time to move on. Just wondering, but I thought you made some money on this trade and that it was me who got totally screwed, Lol. Anyway, always a pleasure and yes let's move on and hope for the best. glty
Hockey, thank you for your personal take on the Reids. Though it is questionable behavior on my part I am going to believe that most if not all of what you claim is true. I have no way to confirm this, but you have given hints about pieces of this over the years and you have always been consistent and I really do not see any obvious reasons for you to be disingenuous in this situation. Again, please don't take my skepticism in the wrong way. This is the internet after all and people will claim anything and sadly my nativity in believe others claims has been a source of major disappointment in my life (another story). Also, you are very wise to put IP on ignore as he never has anything other than insults to add. Natasha at least does make a legitimate effort to raise accounting thoughts though the bias is often difficult to work through.
Getting to the point here (sorry for the digression) I do find it interesting that your personal take on the Reids almost completely matches the read I get from analyzing their behavior over the last several years. It is always important when personal and outside objective viewpoints match as this confirmation does tend to be much more accurate than either alone.
I have never met the Reids or even called the company. Not interested in the talk. Again, 16 tonnes kind of guy, but yes they seem to be conservative (personally, not in a business sense) reasonably nice, solid Colorado Springs sort of people. David and Bill have a real flair for finding new resources and less for running companies (Lol), Jason seems to be a sort of flip side of some of this. Much more scarred by some of the mistakes his elders have made and serious about avoiding repeating them. Again, thank you for your input and viewpoint. It is always appreciated.
Once again we seem to have regressed back to what occurred a couple of years ago. What really is the point of that unless you really want to quote old George about repeating the past which seems to me to be quite the stretch in this situation. I do believe, at least on a short term basis that Hockey is being a little over optimistic, but anyone who is being honest has to agree that getting Hoch out of the picture (remember a couple of years ago that they had 16 million+ shares and expressed an interest in selling those shares), is only a positive event for this company. Hoch has had horrific cash flow issues for a couple of years so whether they lost faith in Goro or not they definitely had very real internal issues which were causing problems both for themselves and also for Goro shareholders. This is a positive event. Whether it is 90 on a scale of 100 or only a 60 I don't know and as always I tend to be more pessimistic but longer term this can only help despite whatever shortterm consequences occur.
As all know this is a long term holding for me (5 years +) and this Hoch sale is just one more little piece in the long term improvement of this company. I also like that despite the earlier bad blood this seems to have been handled in a professional manner which only gives me a little bit more faith in the ability of Jason and present management to achieve their rather conservative goals. As always, Jmho,
oh and IP tell your mom to lose some weight , when she gets into the old Pinto the bumper is draggin on the ground on her side of the car and tearing up the asphalt. We just can't have you guys tearing up the streets like that. I know you believe that your obesity would balance the little car out but she has just managed to explode on you. Also the carrying capacity of Pintos is only around 1000 lbs so you two are also over that, which causes further safety concerns for those around you. thanks in advance for taking care of this.
Startrader, you are joking right? Not that much cash and definitely not a share buyback and with all the opportunities these clowns better not raise the div. You must be new here. Well, glty
You are extrapolating long term price movement on one days trading. Yes, that makes sense. Let's see, if I bounce the ping pong ball towards the rocks and it bounces to the left then it will continue to bounce to the left. Very scientific. I must assume that you passed a math test at least one time in your life and it gave you an undeserved sense of hubris, but then again to each its own. I hope it works for you.
You are joking, right?? This is what you post after a couple of weeks of silence. Do you really consider this newsworthy research? I hope not. anyway, glty
Well, maybe after ANV goes bankrupt Bill can just show up with $1 million and just buy 50% of the place (just kidding). As you know Bead, I am nothing if not patient (and maybe a bit stupid) so I hear you loud and clear. Too much risk. That is why I don't own any. Just wondering if you saw it the same. If I see a move in PM prices we'll talk again. For now I am just going to sit stupidly (funny how that word just keeps coming up) on my debt free Goro position and hope the Keystone Cops can continue what they began in the recent quarter. Thanks as always and glty
I did see the debt. Wow, what I really think is that the strains in the Precious Metal Business are just so extreme that there is no telling. This reminds me of the crash in the Louisiana and Texas gulf oil patch in 1984 when the Saudis dropped the price of a barrel of oil to $6.00 (yes six dollars for a barrel) and then held the price at around $8.00 for a while. This led to the Southwest S&L Banking crisis if anyone can remember that far back. Keating and others went down and all kinds of #$%$ happened on the ground, but one thing that really stood out for me, and that I will always remember is that the rig count in the Gulf dropped from around 1,000 to I believe around 80. They couldn't give the rigs away and what I remember is that even very conservative companies with debt loads in the 10% or even less range suddenly went bankrupt. Even with no debt companies went bankrupt because they owned all these rigs (which easily cost 10's of millions of dollars) and suddenly they were not only worthless, but were even a liability.
This may sound nuts, but if one owns 20 rigs worth let's just say $100 million in replacement costs (and in good working condition), but you can't rent it out for any amount of money so there is absolutely no cash flow coming in (yes, Bead, your favorite parameter, Lol, see someone is listening) these rigs have to be at least stored if not maintained. Where does one just put 20 seaworthy giant rig drilling platforms (kind of like the airplane junkyards in the middle of the deserts). It costs to move them, etc. etc. They were just completely abandoned and the companies which were $100's of Millions of revenue in size just disappeared over a three month period.
I mean stuff like traffic counts on busy city streets, sales in cities, entire states just collapsed. This PM market is starting to remind me of that . If oil can do it why not gold??
Bead, I sure hope that you are keeping an eye on ANV. Do you have any thoughts about their debt issues and whether they will be able to continue without major disruptions? ANV even more than Goro, EXK, etc. seems to be very beaten down. The level of value that I am seeing with ANV seems extreme with a price of 3.07 and 100 million shares out and sales for 2014 of probably around $400 million that is a sales to book ratio of less than one to one. Do you have any real thoughts about why the massive share price destruction is occurring? TIA
Also, I have been right a lot about the specifics of the mining operations and the problems to be encountered and also I have been rather vehement in my disdain for the operational actions of Bill, etc. which Bead will confirm, so your inaccurate comments about my statements are again disproved. Even this last report was pretty much what I expected. To my mind Goro is a developing miner with a beaten down price and some future promise. NO debt helps, but low PM prices hurt so this remains a legitimate, but risky contrarian play. How you can twist these comments into some odd, twisted, reality is really beyond me, but as always, do your worst. Bye for another month or so. Have fun calling me names. Very adolescent of you, but so be it.
OK IP, good luck to you, break a leg. It still seems sort of obsessive to me especially since most of what you accuse me of has nothing to do with me, but again, do what you like. And you are on ignore, and whether I intermittently choose to take a look see at what mean stuff you are saying about me seems to be my choice and not really your concern, but again, your obsession seems to know no bounds. Very odd, well bye until next time, just remember those dogs. Lol
IP daily, you sure do spend a lot of time talking about me, especially since I never say any of the things that you claim I say or beliefs that you claim I have. I find this long distance worship very odd and slightly threatening. Please do not come near my house and begin genuflecting, kowtowing or exhibiting any other type of odd behavior. Thanks in advance. I would be very uncomfortable setting the dogs on you.