GLW competes in he filter market and sells $1B/yr. I bought them 1 month ago. Real company, profits, dividend
yep. Fundamentals are awful. They literally turned on a dime. PSA is discounting cards again and PCGS coin certs are at the same level when stock was $10. Gold/silver were much higher at that time which will put further pressure on the company. Do what you want. I've told you everything I know and what I was doing in real-time
securing patents is nice, but did they secure a license for them? No. That would be news.
and if you think about it Frank, they could build an adit entrance on some of their land and then intersect it with the existing adit at some point underground. Maybe that would cost $3M or $4M? So why would they pay you $10M?
when I bought the dividend was 12%. But the dividend is not 12% now. That is a common mistake people make. If they warn when they report earnings, stock will head to $18.
here is what I just said on the PCGS message board:
Just sold my remaining at $25.15 and $25.21
Love the company but things are not looking so good at this point:
- metals prices have collapsed. Modern submissions will suffer, SAE's in particular
- October was a terrible month for coins, 127K. Levels not seen since Q4 of 2012 when stock was $10. They need 150K to be cash flow break even.
- PSA monthly specials are back to discounted prices. They are lowering prices to maintain levels
- dividend yield is nothing special now. I can get that or very close from many other companies.
Not sure if these trends are one offs are a signal of things to come. Get to the party late and leave early. I tend to leave way too early. The stock could hit $30 on short covering. But leaving early means I don't have to clean up the puke.
I'll be back once coin certs trend higher. Great management here. Well run company.
Love your comments that Noranda needed over $100M to build the MGN adit. Did they use picks and shovels only? Revett just built an adit for under $10M in the same type of geology. They even re-enforced it with steel and concrete to withstand earthquakes and cave ins. For a total of $12M, it will have the same length as the MGN adit and connect to two ore points.
Why then would MGN pay you $10M for rights to your adit when they could build a new one for that cost?
If this moves down on a profit warn, it won't be to $23. More like $18. There are other good dividend payers besides oils and this. I just made a re-entry into CVX
these patents are worth ZERO. This company has never licensed a single patent. Is there a prototype built for demo with test data or are the patents just back of the napkin ideas?
This is nothing more than a promotion by a P&D outfit in coordination with the company.
why would MGN give you $10M for an adit when they can build one for less than that? and one not on your claim? They will abandon the adit and continue with permitting which entails a new adit.
they have been covering but they must be feeling the pain here. Every short is dramatically under water and it costs them cash to pay the dividend.
Just sold 2K at around $24.30
this is what I was hoping for when I bought a few months back. For some reason they held back the patent news. Seems like a coordinated effort to announce old news and move the stock.
Happy for ya, but I'd be a seller here. Take the money and run