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McEwen Mining Inc. Message Board

jj719903 32 posts  |  Last Activity: Nov 25, 2015 5:18 PM Member since: Jan 30, 2004
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  • The Crimex must be getting a little overbearing for Dennis Gartman to mention it.

    Submitted by cpowell on Fri, 2015-10-30 20:44

    From The Gartman Letter
    Suffolk, Virginia
    Friday, October 30, 2015

    As for the precious metals, the selling late Wednesday and all day yesterday was indeed severe, and even our positions in gold/euro and gold/yen have seen severe damage wrought upon them.

    We find it hard to believe that the mere suggestion by the Federal Open Market Committee in its post-meeting communique on Friday that "liftoff" on the overnight Fed funds rate may take place at its December meeting can be responsible for this sort of egregious, serious, and now relentless selling, and we are almost of the mindset associated with the likes of the gold bugs and GATA that some malevolent "force" was behind the selling.

    However, we are not going to travel down that road at the moment and sit tight with our positions, believing that the continued "experiments" with QE undertaken by the Bank of Japan and the European Central Bank shall work to the detriment of their currencies and to the support of gold. Nonetheless, the last 36 hours have been terribly dismaying...

  • CALGARY, ALBERTA--(Marketwired - Nov 03, 2015) - Pengrowth Energy Corporation (TSX:PGF) (NYSE:PGH) is pleased to announce its financial and operating results for the three and nine months ended September 30, 2015.

    Pengrowth delivered another strong quarter of results from operations highlighted by stable production and an eight percent increase in funds flow over the second quarter of 2015, despite continued low commodity prices and minimal capital spending.

    Third quarter 2015 average daily production of 74,239 barrels of oil equivalent (boe) per day, remained essentially unchanged from the second quarter 2015 production of 74,113 boe per day and increased by two percent compared to the same period in 2014. Underlying the stability in corporate production is the growth in volumes from the Lindbergh thermal project. Production from Lindbergh in the third quarter averaged 14,564 bbl per day at an average Instantaneous Steam Oil Ratio (ISOR) of 2.1. Lindbergh remains on track to achieve a 2015 exit production rate of approximately 16,000 bbl per day.

    Consistency in funds flow was evident once again in the quarter, with funds flow from operations of $120.6 million ($0.22 per share) representing an increase of eight percent compared to second quarter 2015 funds flow of $111.5 million ($0.21 per share). The increase in funds flow relative to the second quarter is largely a result of the growth in heavy oil volumes from Lindbergh, supported by Pengrowth's commodity risk management (hedging) program. The strength of Pengrowth's hedging program continues to provide the Company with cash flow stability in 2015 as evidenced by the fact that quarterly funds flows have remained robust while crude oil and natural gas prices declined by approximately 52 percent and 31 percent respectively, compared to the same period last year. Pengrowth remains well hedged through the end of 2016 and the Company continues to look for opportunities to layer in additional oil hedge..cont'd

  • jj719903 jj719903 Nov 3, 2015 5:35 PM Flag

    contracts in 2017 and 2018.

    To further enhance its debt retirement efforts, Pengrowth adopted measures intended to preserve capital and generate cash flow. Included in these measures is the goal of selling $600 million of non-core assets in the year and applying the proceeds to debt repayment. Subsequent to the end of the quarter, the Company announced the sale of its Bodo asset for $95 million and its Jenner area assets for $80 million. When combined with letters of intent (LOI's) for additional assets and previously closed transactions, total divestment proceeds in 2015 amount to over $300 million. Pengrowth is continuing with its non-core asset sales process and negotiating to reach binding agreements on $450 million of additional cash offers received on outstanding assets. These sales are expected to allow the Company to materially reduce its outstanding indebtedness by the end of the year.

    In the third quarter, the Company reported an adjusted net loss of $374.0 million compared to an adjusted net loss of $38.9 million in the second quarter of 2015. The reported net loss was primarily due to a non-cash, after-tax impairment charge of $375.0 million. The impairment charge relates to property, plant and equipment as well as goodwill and resulted from a downward revision in future commodity prices from Pengrowth's external reserve evaluators.

    "We have delivered another strong quarter of operating and financial results in a very challenging environment and these results speak to the effectiveness of the actions that we have taken to safeguard the financial health and stability of the Company", said Derek Evans, President and Chief Executive Officer of Pengrowth. "Living within cash flow in 2015 while reducing our debt remains our primary goal and with the planned sale of $600 million of non-core assets, we expect to materially accelerate our debt reduction efforts."

    Financial and Operating Highlights:

  • Reply to

    Conference Call

    by jacquelina1126 Nov 3, 2015 7:31 PM
    jj719903 jj719903 Nov 3, 2015 11:34 PM Flag

    Go to the website and click on Webcast Link. There was no need for a passcode. They are putting an Implementation plan together. Analysts asked their questions. The answers to those questions and the overall conference call was professional. 31 minutes was all they needed to explain their plans going forward.

    Today's message board drama was a little over the top.

  • Reply to

    Stope Mining

    by jj719903 Nov 13, 2015 7:57 PM
    jj719903 jj719903 Nov 13, 2015 9:00 PM Flag

    Revelation 182 sounds like he knows mining. They were good posts once you get past the bashing posts by Johnny.

    Lesson 1: Remember, BASHERS NEVER Bash A BAD STOCK. Check the boards for stocks with no potential. They never have any Bashers. Bashers only go after stocks that are moving up or have excellent potential to do so. Bashers work to bring the price down to either increase their position at the expense of others or help a Short make their bones.

    Lesson 2: BASHERS ALWAYS BRING UP OLD NEWS THAT YOU HAVE HEARD MANY TIMES. New startup companies always have a few bits of bad news. The Basher will post this over and over again. Unsophisticated Bashers will try to freshen up old news with a new date or by-line in an attempt to fool you.

    continued...Bashers Handbook - message board fools

  • Reply to


    by jazenevd Nov 9, 2015 5:44 PM
    jj719903 jj719903 Nov 9, 2015 6:06 PM Flag

    Interesting price target for Scotiabank. From Stockhouse board...

    Net near 1 million shares bought today from Scotia.....A little bit of confidence....No?

    House Positions for C:RMX from 20151109 to 20151109
    85 Scotia--1,113,140---204,172---0.183---152,700--28,044----0.184---960,440--(-176,128)

  • jj719903 jj719903 Nov 10, 2015 2:31 PM Flag

    Time will tell is a reasonable statement. I do know, IR won't disclose or hint at any parties that are interested in the company at this valuation. Gold Corp IR would not comment.

    President Elect of the Canadian Institute of Mining, Metallurgy and Petroleum, should buy him a reasonable amount of time to come up with a plan. He may have been on the BOD, but that doesn't mean squat. The CEO makes the decisions in relation to what happens.

  • Current - Canadian Institute of Mining, Metallurgy and Petroleum, Rubicon Minerals
    Previous - Orvana Minerals Corp, Avanti Mining, Quadra FNX Mining Ltd
    Education - McGill University B. Eng (Mining), Mine Engineering 1976 – 1979

    Mining executive and director with extensive experience in corporate, operations and development.
    Team builder in diverse cultures gained from work in Canadian north, Australia, Papua New Guinea, United States, Indonesia, South America and Europe.
    Recognized as an inspiring leader of change with a history of dramatic contributions to business results.

    President Elect
    Canadian Institute of Mining, Metallurgy and Petroleum
    May 2015 – Present (7 months)
    In 2015, will contribute to Executive Council of CIM as President Elect of the national organization. In May 2016, I will assume duties of President of CIM.

    Founded in 1898, the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) is the leading not for profit technical society of professionals in the Canadian Minerals, Metals, Materials and Energy Industries.

    CIM has always maintained three main objectives:
    to facilitate the exchange of knowledge and technology
    to foster networking, professional development and fraternity
    to recognize excellence and outstanding achievements in the minerals industry

    I look forward to contributing my mining experience in a volunteer role to the leadership of the CIM.

    Interim President & CEO, Director
    Rubicon Minerals
    October 2015 – Present (2 months)
    Member of Board of Directors of Rubicon Minerals, developing a gold mine in Red Lake, Ont., since September 2011.

    President & Chief Executive Officer
    Orvana Minerals Corp
    February 2013 – April 2015 (2 years 3 months)
    President & CEO & Director of Orvana Minerals since February 2013. Orvana is a mining company with gold, copper, silver operations in Spain and Bolivia, with head office in Toronto, Ontario. Retired in April 2015 although retained consulting agreement through to October 2015.

  • jj719903 by jj719903 Nov 13, 2015 7:57 PM Flag

    Revelation 182 writes at Stockhouse...

    How may here REALLY understand LONG HOLES STOPES / HANGING WALL FOOTWALL DILUTION ... Remember Humans operate the drills , a few degree off PUTS ""THE END OF THE RODS"" INTO THE HANGING WALL etc

    Shrink Stopes ( ground support the hanging wall as the face advances ) no dilution

    Cut and Fill stopes ... simple, after the cut clean the stope / raise the Millhole FILL THE STOPE WITH Backfill ( Mill tailings + Cement .. No diution )

    Fact This what experts will study HOW TO MINE THIS DEPOSIT SAFELY AT A PROFIT

    Higher Gold Prices a plus !

    Results for the Trial Stoping Period to the end of September 30, 2015
    Rubicon commenced the trial stoping period in July 2015 following the successful completion of mill commissioning. During the trial stoping period to the end of September 30, 2015, which included the drawdown of the first trial stope and lower-grade stope development material, the Company processed 20,718 tonnes of mineralized material, grading at 4.29 g/t Au. Rubicon achieved an average mill recovery of 92.6% and produced 2,647 ounces of gold. Average mill throughput rates for the period were primarily affected by the fall of ground on the 183-metre level, delays in underground construction, and the late delivery of mining equipment. Average grades for the period were lower than expectations due to low- grade stockpile processed in September and higher than expected internal dilution from the first trial stope.

    Long Hole Stopes ..

    2-5 degree Off will put the END of the rods OUT of ore and into the hanging wall or footwall

    ='s DILUTION !

    Shrink Stopes Cut and Fill Stopes NOT the same problem

    So .. Experts will look into HOW BEST to mine the deposit safely at a profit

    Results for the Trial Stoping Period to the end of September 30, 2015
    Rubicon commenced the trial stoping period in July 2015 following the successful completion of mill commissioning. cont'd..

  • Reply to

    Stope Mining

    by jj719903 Nov 13, 2015 7:57 PM
    jj719903 jj719903 Nov 14, 2015 10:04 AM Flag

    Man up? How many warning posts to investors or traders do you have to make?

    I checked my brokerage statement and sold out of RBY in December 2011 @ 3.51 a share.

    I decided to repurchase because it was way oversold, they could create a rational plan the market likes or possibly be bought out by another company.

    Do not invest what you cannot afford to lose.

    There are 3 more I'd's that came out yesterday warning against spectulating RBY's share price is not going anywhere on the Stockhouse board. That tells me there is a very interested party - hedge fund or creditor looking to get the company on the cheap or accumulate shares. Create many accounts, stuff less than 5% ownership in them, Etc...

    A Poster named a thread to you Johnny.

    GuyzooGazoo writes:

    Johnny and Mary

    Hi Everybody Myself, I will not be replying to Johnny and Mary as clearly there intentions is not to provide any point of view that should be considered let alone discussed. The verbal diarrhea that as a whole is toxic to all of us trying to stay informed about Rubicon. Please Johnny and I suspect same person Mary take your opinions and knowledge and place them in a dark hole. Great Gazoo

  • Reply to

    Stope Mining

    by jj719903 Nov 13, 2015 7:57 PM
    jj719903 jj719903 Nov 13, 2015 10:28 PM Flag

    Your full of it. There are too many posters on this board that don't own any shares. The pm sector has been torn to shreds by the Crimex paper ponzi. I don't need to be warned 30 times a day about this company is going to do this or that. RBY is oversold...a cave man can see it.

  • Reply to

    Tim Oliver's Death List: Rubicon et al

    by bilbobaggins.midearth Nov 14, 2015 11:46 PM
    jj719903 jj719903 Nov 15, 2015 7:55 PM Flag

    Tim Oliver independent mine consultant. BNN interview Nov 5, 2015 3 minute mark - I am not a mining engineer or geologist. Stoping is at the ragged edge of my knowledge.

  • Stockhouse board...

    Rubicon Minerals Corporation (RMX) has the following new filing(s) recently:

    SEDI Insider Relationship:
    4 - Director of Issuer

    Acquired 31,000 Common Shares (Direct Ownership) at a price of $0.165 through the public market on November 23rd, 2015 (Holdings Change* of = 100%)

    Insider transaction information sourced from SEDI®

  • Reply to


    by wolfgangrene Nov 3, 2015 3:36 PM
    jj719903 jj719903 Nov 3, 2015 5:25 PM Flag

    Wolf...rodger that. I thought TRX had the most non-stop negative yappers.

  • jj719903 jj719903 Nov 9, 2015 11:59 AM Flag

    I just looked over the financials and this is not a bad takeover candidate, especially at 13 cents.

    That is the other side to the equation. This company gets sold before it goes BK...too much upside and not any overwhelming debt to quash a deal. If a company is going to make a play on RBY, they are signing NDA' s in the not too distant future.

  • Reply to


    by jazenevd Nov 9, 2015 5:44 PM
    jj719903 jj719903 Nov 9, 2015 7:15 PM Flag

    Scotiabank was hired for the Allied Nevada fraud. There is a website named just that.

    Scotiabank Capital Inc. has been retained as financial advisor by Allied Nevada Gold Corp with respect to Hycroft Mill Expansion Dec 2014.see docket 1018 page 279 of 299

    Scotiabank Trevor Turnbull assigns $0.05 share price target of Allied Nevada shares. Dec. 2014.(see doc 1018 page 118 of 299) This was a pretend we are looking for a partner or financing for the Hycroft Mill. Remind anyone of banks going short housing and saying buy buy - they bundled together.

    The creditors got 10+ moz gold and 480moz of silver in the ground and 240,00 oz's on the plugged up leach pads. The CEO decided to mine waste during the chapter11 and had to cramdown the final POR.

    That fraud is being appealed.

    It's not surprising this weird stuff is going on during gold's lows. The consolidation of the sector is being forced because miners don't have the nad's to stand up to the Crimex paper ponzi scheme.

    RBY is a total different animal. Allied has low grade sulfide material that needed a mill to process it.

  • jj719903 by jj719903 Nov 10, 2015 2:58 PM Flag

    From Stockhouse...SchiffKnowsBest...

    Firesale Value

    It makes a huge difference how much equipment and what kind of a mine you have built when Goldcorp is next door with a great property and they can then use that set-up to mine their property and to at least high-grade the Phoenix property.

    At a minimum the firesale vaue of this company should be their:

    -- Current assets ($86,000,000)
    -- Property plant and equipment ($224,000,000)


    -- Total current and long-term liabilities ($195,000,000)


    Shares outstanding =~425,000,000 fully diluted


    This gives 0 value for their exploration expenses and their current deposit which we all know can be high-graded and be profitable.

    This is why we saw someone buying hand-over-fist from Scotia yesterday.

  • Reply to

    Stope Mining

    by jj719903 Nov 13, 2015 7:57 PM
    jj719903 jj719903 Nov 14, 2015 10:46 AM Flag

    You are clueless. I have no Stockhouse alias. My full disclosure is more than any of you offered up. You people can bash this stock all you want.

  • From Stockhouse:

    Rubicon Minerals Corporation (RMX) has the following new filing(s) recently:

    WINSHIP, MICHAEL DAVID (Interim President, Chief Executive Officer, Director)
    SEDI Insider Relationship:
    4 - Director of Issuer
    5 - Senior Officer of Issuer

    Acquired 250,000 Common Shares (Direct Ownership) between the prices of $0.180 and $0.190 through the public market on November 20th, 2015 (Holdings Change* of = 100%)

    Insider transaction information sourced from SEDI®

  • jj719903 jj719903 Nov 1, 2015 3:20 PM Flag

    Algos are being programed for Friday's NFP. Gartman is normally a good indicator to do oppsite of his calls.

    The MOAMOPE by James C. McShirley was written last year, but McShirley explains the 1% 2% caps on the precious metals.

    The advent of computer generated trading algorithms heralded a quantum leap forward in the quest for 24/7 control of markets. No longer were humans beings required to do such unseemly things as man trading desks or worry a whit if free markets were, if even infrequently, attempting to function.

    Algo precision has made even the blackest of black swan events seem to turn lily white in their utter non-eventfulness. No more significant Dow or bond crashes, and best of all, no gold rallies exceeding (exactly) 1.00%, or the occasional 2.00%. Algo sentinels now stand in a permanent state of vigilance, keeping MOPE alive. (MOPE is what Jim Sinclair refers to as "management of perspective economics".)

    Market manipulations and control of gold trading are what I have documented now for over 15 years. Many of these manipulations are well-worn, tried and true. Nearly all have intensified over the past 3 years. It seems as if one could throw a dart on a trading dartboard and hit an anomalous trading pattern nearly every time. Even with that said, I was stunned to stumble on to the biggest trading anomaly of all: the MOAMOPE - the mother of all management of perspective economics.


0.8605-0.0345(-3.85%)10:36 AMEST