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McEwen Mining Inc. Message Board

bucketboy08844 11 posts  |  Last Activity: Mar 3, 2015 7:46 AM Member since: Aug 2, 2002
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  • Reply to

    New Study and New Pump PR

    by ilovesilversilver Mar 2, 2015 1:44 PM
    bucketboy08844 bucketboy08844 Mar 3, 2015 7:46 AM Flag

    I can see what you say makes sense but it's not unusual to make a 'deal' contingent on certain conditions being met in the future. So financing could have been secured already dependent on postive results of the study. Once the study proved out the commercial purity of the resource then the deal would be executed. So while this is good news my question to management is how many more prerequisite studies and tasks remain prior to financining being acquired, and what would be the current build-out schedule given the previously communicated plan is unrealistic at this point?

    Sentiment: Hold

  • Reply to

    Re-short 21.04

    by trader4higher Feb 19, 2015 10:24 AM
    bucketboy08844 bucketboy08844 Feb 19, 2015 11:09 AM Flag

    I'm not sure that's such a good idea right now. I watch is the open interest on the COMEX for clues, notably the actions of the tech funds. These guys consistently get fleeced by the commericals which is really the big banks. What I don't understand is why they can't figure it out and stop playing a losing game?
    There is no absolute level or volume but when the tech funds hold a historically large number of long contracts you can expect the price of gold to come down. First, the commercials suck the tech funds into the market by 'painting' bullish technical patterns. Then when they're all loaded up the commercials pull out the rug and we get those 20-30 dollar down days. And they can see all the bids, stops, and everything.
    Once the tech funds hold 'few' long contracts there are no more suckers left to fleece so bringing the price a lot lower has no advantage and it might encourage a massive amount of physical buying and since actual gold inventories are low that could spell trouble for the banks.
    From the looks of contract levels were making a bottom right now. So I would put a tight leash on that short position.

    Sentiment: Buy

  • bucketboy08844 bucketboy08844 Feb 19, 2015 10:04 AM Flag

    The minutes say the Fed really has no clue what they are doing. Central Banks have lost control. But everyone wants to continue believing the illusion. Sad that it will end terribly for most.

    Sentiment: Buy

  • Reply to

    GDX will go RED very soon

    by trader4higher Feb 19, 2015 9:33 AM
    bucketboy08844 bucketboy08844 Feb 19, 2015 9:57 AM Flag

    You are right. When the risk of worldwide credit defaults appears likely (starting with Greece) nothing says don't worry all is well like 'sell gold'..

    Sentiment: Buy

  • Reply to

    endeavour financial

    by investandr Feb 15, 2015 6:20 PM
    bucketboy08844 bucketboy08844 Feb 16, 2015 7:36 AM Flag

    I have no firsthand knowledge of the firm but from what I've read they seem to have experience in the sector with negotiating and advising firms with contract and financial issues. So maybe its a step forward?

    My suspicion is we won't see any major movement on the project build-out until there's a clear upswing in graphite prices. Why spend the money now to bring a mine to production in order to sell the output at a low price? Nobody from the company is going to tell us this but until commodity prices move higher the investment here is more or less dead money. The question everyone's got to ask themselves is can you afford to wait and how long might it be until market conditions improve?

    Sentiment: Hold

  • bucketboy08844 bucketboy08844 Jan 30, 2015 9:56 AM Flag

    At this point its looking like any cuts in production are going to be involuntary with the victims being the most leveraged highest cost producers. From what I understand and have been able to gather that group includes many of the US shale producers, some offshore production, and inefficient state-owned production where politicians use oil as a piggy bank for funding their social agenda. I suspect the timing for some fireworks will be late Q2.

    The other factor is any over-production needs to be stored somewhere. I haven't been able to identify any good sources on worldwide storage capacity or current capacity utilization statistics but common sense would indicate that sooner or later the world is going to run out of storage space and consumers will have to refuse output because there's no place to put it. Just when that would happen I can't say but if production exceeds demand by 2M per day that implies 60M per month has to be put somewhere.

    COS should be in good shape assuming this is a cyclical event of limited duration and not some permenant shift although from the looks of the share price the market is expecting the end of the world here.

    Sentiment: Hold

  • Reply to

    I guess the greedy manipulators are at it again.

    by jbend18 Jan 29, 2015 10:52 AM
    bucketboy08844 bucketboy08844 Jan 29, 2015 11:14 AM Flag

    Feb contract delivery notification time. There are more 'in the money' contracts than gold available to settle if holders choose to stand for delivery. So the standard approach is 'on', which is knock down the price.

    Sentiment: Buy

  • Reply to

    new bs pr

    by ilovesilversilver Jan 22, 2015 10:08 AM
    bucketboy08844 bucketboy08844 Jan 22, 2015 1:16 PM Flag

    Saw it too. Exactly what does it mean? Your proprietary upgrade proces works. That's great and congratulations. But does it bring us any closer to completing financing and starting construction on the project?

    I've seen this way too many times with developmental level companies. They're always announcing some 'breakthroughs' or 'progress' while ignoring the basic core requirements of the business. Stop BS'ing around, develop the property, and start making some money for the shareholders. Save all your science project stuff later.

    I'm a holder here and see significant upside but if we get any kind of 'pop' on a lot of hype I might lighten up because I'm not getting the warm and fuzzy here anymore. Its taking too long for anything to happen and the shelf-life on my patience is about to expire..

    Sentiment: Hold

  • Reply to

    overnight sucker punch

    by rxbond Jan 15, 2015 9:09 AM
    bucketboy08844 bucketboy08844 Jan 15, 2015 2:47 PM Flag

    The other thing to understand is that after a while you learn there are no experts.

    Sentiment: Buy

  • Reply to

    If you need a loss buy CNRL

    by cnrlsucks Dec 1, 2014 11:36 AM
    bucketboy08844 bucketboy08844 Dec 10, 2014 11:21 AM Flag

    You're missing the big picture here. The entire oil sector is down and this is not company specific. Watch as the Saudi plan to destroy the US shale oil sector unfolds. Most immediate will be cuts in shale drilling permits and activity soon to be followed by a drop in production as new wells are necessary to keep production levels constant because of high depletion rates and finally debt defaults and going out of business lease and asset sales.
    In the long run the Saudi plan will be good for CNQ too although it doesn't look that way now. With facilities and production in place along with ample capital for expansion the destruction of cap-ex investment and production elsewhere will be a boon to the bottom line in the longer view. Its a hold here for current investors and a good buy for new investors.

    Sentiment: Hold

  • bucketboy08844 bucketboy08844 Dec 9, 2014 7:30 AM Flag

    I agree. The thing to watch in the next couple months will be cutting of cap-ex budgets. I suspect shale drillers and oil sand developers that have projects either in flight or on the drawing board but no meaningful production will be hit the hardest. COSWF should be okay and I'll be adding here to average down my cost basis. Also watch for some debt problems for the high cost shale producers.

    Sentiment: Buy

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