The board is very quiet, like calm before s storm. It's a good board, lots of smart folks here.
Anyway, was reading some commentary on the silverdoctors website, and the author keep quoting the book of Revelation in the scriptures. Had a hard time concentrating on what he was saying. Doesn't get much scarier than that.
Over the weekend the world had all this turmoil with Greece, and despite all of this the price of gold and silver aren't budging. I know all the bankrupt debt-ridden governments in the world with all their fiat money are in league with the US to keep the price of gold and silver down. But to me it seems like the price of precious metals should be rising anyway. In China the world's 2nd largest stock market is crashing, Greece is defaulting, there's a run on their banks, and with that uncertainty demand for the precious metals is reportedly surging. Still the prices of gold and silver are not budging. Downright spooky if you ask me; something is wrong with this picture.
I remember when gold and silver took a nose-dive about 2.5 to 3 years ago, and Bradford Cooke, who at the time was the CEO and Chairman of EXK, Endeavour Silver, put out a press release saying that the company's senior management team, including himself, were taking a pay cut and deferring some of their compensation. Who else does that? I was in HL, they never did that. TGB would never do that. Most of these companies are run for the benefit of the management teams. They seem to do fine no matter how the stock performs. Listen to or read the transcript of an EXK conference call. You will get a whole different vibe.
It's important to listen to the CC. It's not just what they say, it's what they don't say, and how they present themselves and their ideas. Check out CRCUF, it has a lot of the same management team as EXK. And it's cehap, CRCUF is trading under 6 cents, and I think it's worth every bit of six cents. JMO GLTA
Yeah, used to be in this stock years ago, the management bungled the NP project, tried to shove it down the FN's throat, burned a lot of bridges. The sentiment here is low, hasn't been this low since 2008/2009. JMO.
The good news is that there are lots of other miners out there who have better management that are also very cheap, my favorite is CRCUF, CANARC Resources. Check out the chart, it's up big over the last few sessions. They announced a couple of deals recently, one this morning where they are acquiring Oro Gold and Silver in Zacatecas Mexico. The main thing they got going for them is great management, the CANARC Chairman is Bradford Cooke.
Gold and Silver are going to break out. Greek voted NO! There will defaults impacting the fragile web which is the derivatives market, and things could get really ugly really fast. PM prices have been forced about as low as they will go IMO. Silver seems really cheap, the Gold/Silver ratio is 75. Silver's open interest position in the COMEX is at a record high.
This sector is brutal. CRCUF has been in a long coma (at least a decade), but their management team has done a couple of deals this year to plot a path to develop their main asset a Canadian gold mine, the New Polaris project, and with the latest deal announced today, they have figured out a path to produce gold and silver. They have acquired a fully permitted gold and silver mine in Zacatecas State new Mexico.
Consider trading one company with a NP project with a lousy management team for another company with a NP project that has a great management team. Maybe sell some TGB and buy some CRCUF. GLTA
CRCUF announced a deal this morning whereby they are acquiring Oro Gold and Silver. Their chairman is Bradford Cooke; the stock is still cheap. And that's all I will say about that.
Greece votes NO!
So? So the now the SHTF. Who knows what that means?
Not me. Buckle your seat belt and hang on tight. GLTA
Yeah, don't think silver is going much lower, think EXK shares are near the floor
If you are a fan of Bradford Cooke, check out CRCUF, Canarc Resources, they announced a deal this morning whereby they are acquiring Oro Gold and Silver in Zacatecas Mexico, the stock was up 75% last trading session, has more room to run, it's a big deal for a little company
And Greece votes no. Buckle you seat belt. Hang on tight.
Keep the faith.
Wow, a deal is announced. Canarc is acquiring a fully permitted project in Zacatecas Mexico! It's no in Canada, but that's OK, Mexico is the next best thing, maybe better, don't have to get the First Nations to sign off. And we get a path to mine gold and silver!
And Greece votes no. What a day.
Sentiment: Strong Buy
Let's hope if there is a deal in the works they announce it soon. Gold may finally be ready to move higher. It has been suppressed for a long time, seems to me that PM prices have been forced down about as far as they will go. Looks like Greece is voting no, just more fuel to the fire, gold and silver prices may finally bounce off their lows. It is just round one of the SHTF as the Greek default and the Puerto Rico default may wreak havoc with the global derivative markets.
yeah, thinking this is a strong buy here
saw that PPP was up over 5% last session,
and SAND was up 11.5%
EXK's price to sales ratio is
Check out CRCUF today, it bounced over 75%, they probably got some announcement coming out soon. They have doubled over the past week, I bought some CRCUF shares the other day for .315, and today it traded up to .065. They announced a deal with Pan-Terra not long ago which gives them a path to develop their New Polaris Gold mine, but it's still about 3 years off, so they might have some other deal to announce. Not sure. Still sitting tight on all my MEAOF shares. Not sure why Metanor shares took one step back today, oh well.
Hey, check out CRCUF, it's up about 75% today on no news, think they probably have news coming out soon. I bought some a few days ago at .0315, it's trading at more than double that. CANARC Resources, they are based in Canada, announced a deal not long ago. GLTA
Am glad I avoided SFEG, and feel good about CRCUF here too, really like the Pan-Terra deal, I like how they want to have NP ore ready to go in 3 years, that seems like a great fit. Hope you are right about a rebound in gold prices in 1 year. Think it may take longer. When it starts moving higher though it will probably move very fast. It won't be pretty when gold moves higher, will be good for this company, but when the SHTF the great unwind will be traumatic.
Keeping my fingers crossed about some other deal. The plan is to sell some MEAOF shares and buy more CRCUF. Sold a lot of CANARC shares before the bottom dropped out, and am slowly building that position back up, at this point only got about 29000 shares. GLTU Bill, and GLTA
Hey William, i got 117,700 shares of MEAOF, haven't bought any more metanor shares in a while, lately been buying shares of CRCUF, with is even cheaper. Hard to say which of those two Canadian gold juniors is more undervalued here. Got 28,944 shares of CRCUF. Lots of shares of those two, but they are not worth a whole lot. Most of my money is in EXK, got 11,000 shares of that one.
Silver seems like a good value relative to gold here, the gold/silver ratio is about 75. EXK is a silver miner, they also mine about 70K Au oz annually. EXK is also very cheap, but every stock in this sector is very cheap.
SFEG is traded down to 6.6 cents today,
and we got up to 4.5 cents,
I got zero shares of Sante Fe Gold Corp
I'd rather live in New Mexico than Canada,
but would rather own shares of a Canadian gold junior
could just never get very excited about SFEG
I think this is a much better company than SFEG,
especially after the deal Canarc announced the other day
when the SFEG/CRCUF deal fell through,
SFEG was the big loser.
Plus CRCUF's management is way better. than SFEG's.
Didn't used to be, but now it is.
Cool. I think the release today of finding 18 grams per ton over 1.5 meters near existing infrastructure is very encouraging. All these nice drill results are awesome. It mean that Metanor might be able to find a way to slowly increase production over the coming months and years. The gold is there for them to dig up.
It means that the company is very unlikely to go under, and you wouldn't know that from looking a a chart of the stock price. The stock is so cheap here it is priced more like an option, you buy it and hope that the company survives, and the fact they are a producer and the keep finding gold makes the stock worth every bit of 5.25 cents. JMO
Maybe the management team is weak, but that can change, and it's not all bad. If the price of gold starts moving higher, so will this stock. Can't blame the management team about the price of gold. Anyway,
GLTU there William, and GLTA
Maybe the fed doesn't raise rates this year; it's never a good time, but guess they can't say that. And there's Puerto Rico. Lot of debt-riddled countries out there. The only way out is to print, print, print, which is not a solution, just a postponement.
Maybe Greece will default. I keep thinking they will find a way to kick the can down the road, but maybe not. The payment was due today I believe, and there are last minutes deals still being considered.
I got some shares of this company, I am long the stock, have been for years. I didn't miss the run-up from under a quarter to over fifty cents, bought a bunch of shares under .25 and sold them over .50 But thanks, I hope there is time to recover past losses, because I have had my share of those for sure.
OK, yeah, i've been wrong before, will be wrong again, I got my share of problems, oh well.
I like Claude and like the management, i like EXK more though, they got silver as well as gold, and silver is more undervalued than gold, JMO. I also like other Canadian gold juniors that are even cheaper than Claude. The way to make money in this brutal sector is to buy really cheap shares.
I did well with BRD, it got super cheap, even less than Claude shares, and then Bigus got bought out.
I like MEAOF better than CLGRF here. Yeah, they got really lousy management, but they got a nice land package, and the stock trades for about five cents. That's why I like MEAOF more than CLGRF, Metanor shares trade for five cents.
I like how this company extended their land package on the cheap, good job, right around Santoy Gap, which does appear to be taking this company to the next level.
I don't know how many shares went to directors and officers, but it had to be a lot, because they obviously aren't worth a whole lot each...
Sunny did end his message on the details of the resolutions with the following: Contact CANARC directly if you want more information, but vote!
I hadn't noticed how much stronger the dollar has gotten, but each Canadian looney is worth less than 81 cents. That seems severe to me, but it sure explains why CRCUF trades so far below CCM.TO
It's not all bad though. At least the company has got some money coming in from the deal they set up, and they have navigated a path to production. It seems like a fair deal, a mutually beneficial arrangement. it's better than spending another $30 million over the next decade or so on the project for not a whole tot to show for it.
I don't think Greece will exit. They will probably vote to stay in the European Union when it comes down to it. They voted in a party with the opposite view, but it will be hard for them to vote to exit. They will probably find a way around the default too. That would involve some pain, and it's a lot less poinful to find a way to kick the can down the road. JMO. GLTA
There is a huge silver short position at the COMEX, biggest ever, so there will be some downward pressure on the commodity to allow them to cover. All those shorts are going to have to cover though, so it's not all bad.
The stock is paring its losses today, and there's a lot to like here. Look at AG, that company has a market cap about 3 times this stock, but there revenue is only 15% more than EXK's. Their price to sales ratio is over 2.5, ours is about 1.1 They have about 3 times more debt than cash, while we have about the same levels of cash and debt. This stock is a lot cheaper than AG, and we have expanded capacity at Guanacevi and El Cubo coming in the last two quarters, plue some big projects to develop. And we got better management. JMO GLTA
ok, i am sort of a perma-bull, but if you got nothing good to say, then don't say nothing,
that dolfn.dude has exactly the opposite opinion
The company seems to be making the right moves. I like how the current management is now leaning towards the conservative side on their guidance.
The price of gold may see a lift with the Greexit next week. It seems hard for me to believe, but looks like barring a last minute deal, that Greece could exit. The kick the can down the road approach would be to cave in and bail out Greece, and that would avoid a lot of pain. Whatever happens, it will be painful, but a Greexit would probably be more painful as it would trigger a default and have negative consequences that ripple though the credit and derivative markets.
That is more strain than the the financial system has had in a long time, and the price of both gold and silver may move higher as a result.
I don't think it's as bad as kingworldnews would have you believe, so hopefully no apocalypse, but it will involve some pain.
Maybe the Greek story has been overlooked here, it's been a crazy week with the SCOTUS decisions coming down and the confederate flag flap. Any discussion of flag issues is too symbolic for me to get worked up about. Yeah, bring it down, but it's just a symbol.
Greek possibly defaulting is really a big story.