I think a gold stream deal is a much better idea than selling MM altogether. If copper and moly prices stay depressed the other mines will continue to slow production until there is a shortage of copper and moly, but I am not a mining expert, I would like to see what Ultra and some others think. I imagine most would want them to refi all of the debt so that when metal prices come back they will make a lot more $.
I bought some more last week @ .471 It was hard to watch it at .40 and not be able to buy even though I had already deposited the money. It took 3 days for the money to clear, which normally isn't the case, but since TC is considered a penny stock, you cant buy it on margin. But I think the same as you, .40 cents or .47 cents, it wont make a difference in 12-18 months.
from .42 cents to .72 cents is up 71%, I don't think that qualifies as a "dead cat bounce", but copper is giving some back today. Its anyone's guess where TC goes from here. Your best bet is to purchase a portion of what you were going to invest and then wait and see what happens and if it drops, dollar cost average down. You really should have held some shares around the .40's though. If your investment strategy is to watch a stock and then when it goes up 60-70% to buy it, your probably not going to do very well.
Should be a good day.
I think the reason TC is .50 a share is because many believe they cannot refinance their debt. Also, the whole mining sector has been crushed. Once they pay off and then refi some of this debt the stock should climb. When TC was @ 3.00 .50 cents seemed impossible. Now that its @ .50 cents, $3.00 may seem impossible, but look at a 15 year chart and you can see when this stock comes back, it comes back fast.
Sentiment: Strong Buy
We are at around 50% of the average daily volume in 2 hours of trading. The next resistance looks like its @ .55 We haven't closed above .53 in about 3 weeks. Maybe a bottom is forming.
If someone is buying 100 shares of a 50 cent stock, they will have to make 40% on the stock before they break even (if they pay $10 a trade). So its likely a larger trader (or firm) who pays virtually no commission per trade who use software to sell or buy shares a little bit at a time so they dont affect the share price. It could also be "Market Makers", but I wouldn't worry about it too much. Once the stock is heading higher, there will be fewer people trying to sell at a low price and it will be harder to manipulate to the downside. In the end, everyone is trying to make money and once an uptrend has been established, the same people who are pushing the stock down will be manipulating it to the up side.
It will take time though. Look at a chart of Priceline. It hit $7 a share (post split) during rough times in 2001 and nobody wanted to own any shares (not even William Shatner). Those who held on were rewarded w/ a 17,000% gain (175 times the $7 share price). There is no way TC can go up that high, but you get my point. TC used to be a $23 stock. It is not out of the realm of possibility it goes back up somewhere near that level if copper and Moly prices recover. Even if it only goes to $5 a share, that is a 1000% gain from here.
Sentiment: Strong Buy
This looks like the beginning of a bear market, this happened last Oct and the markets bounced back, but since there isn't any QE and the Fed keeps talking nonsense of raising interest rates, it might be different this time. Should be good for gold prices, but maybe not so good for copper, but since copper has already fallen so far, it should be ok.
Gold is starting to rally, if the market keeps tanking the "Stock Market Crash Team" that Bernake created is going to be busy. Looks like i'm not the only one seeing signs of deflation. the last time the S&P was this far below the 200 day moving average the market reversed and rallied back above it. If the market closes anywhere near this level today, tomorrow could show some foresight into which direction the market is heading in the near future.
Oh #$%$, why didn't you tell me sooner? I guess your right though, i usually sell my stocks when they hit multi year lows. I don't have any independent thought. Thanks for leading me in the right direction. :-/ Seriously though what i'm concerned about is what appears to be signs of deflation showing up all over the place, not just in the oil and copper markets, but in China. I doubt that China will just sit back and not implement some sort of QE and Yellen will have pressure from the Dems to keep the economy going strong until the 2016 election. Should be interesting.
There are worse options than Trump. He said that if he doesn't win the Rep primary then he will go independent. If that happens then Hilary will win by a landslide because then there will be 2 Republicans running against each other. The same as when Ross Perot ran.
If you have been watching/trading TC since 4.00 not owning any @ .58 cents seems like you have a low risk tolerance. What you have to do is ask yourself is how long can TC last @ current metal prices. I believe that number to be approx 2-3 years, there are many who would argue in both directions, but you cannot deny that Mt Milligan is a valuable asset and the Moly mines are aces in the hole in case OPEC wants to make oil prices rise again. So, lets say they have only 2 years left. That is still a lot of time for change to take place in the economy and metal pricing. In Dec 2005 TC was .53 cents a share, in July 2007, it was over $20 a share. That is only 19 months for a 4000% gain. Nobody can predict the future, but if you look at the past it gives you the best insight into the future. GLTA
Sentiment: Strong Buy
The brave men and women who risk their lives everyday at McDonalds and Dunkin Donuts in NY are getting $15 an hour, i wonder how much the miners are asking for.
the LME has such a small percentage of the worlds copper that its not really relevant, but global demand could be dropping. When the LME inventories were dropping to their lowest levels in many years last year, the price of copper was still dropping. Many of the stories online are trying to influence investors. If you really believe that copper is heading much lower, then sell your TC @ .53 cents. Price to sales .17 Price to Book .18 Cash per share $1.11 I know they have debt, but what miner doesn't. In my opinion deflation is starting to show up in many places and i'm not sure if Yellen is concerned enough about it. Bernanke would have started another QE by now and would have stopped the ridiculous talk of a raise in rates.
Seems to have happened in the middle of the night on Sunday while the Chinese market was open. Which Country is trying to accumulate as much gold as possible so that they can be the next world reserve currency? Would this country benifit if the price of gold drops? Isn't this eventually going to hurt the US? Copper didn't drop much today and neither did the copper miners.
wow, the more you speak the more people are going to realize that you have no idea what your talking about. Your "followers" are going to abandon you, that is if you ever had any. Do you really think the board and shareholders would approve a sale of TC @ .75 cent s when they have around a$1 in cash and a very expensive asset in Mt Milligan? LMAO. =P
The stock was only above .73 cents for about one minute, it went as high as .7315, but since it was for such a short time, if you were trying to sell on a particular exchange and there were no bids on that exchange above .73 your order may not have gone through unless it was a market order.
its a bear attack, what "analyst" watches a stock go from $3.00 to .70 cents and then downgrades it from Buy to Hold? The only reason i saw that he gave was the 100 hours of downtime that is scheduled for the 3rd and 4th quarter for maintenance. That is an average of 2 days per quarter, so it will mean 2.2% lower production (2/90), but if during the downtime they improve throughput over 2.2% it will be worth it, so it really makes no sense, unless his brokerage is trying to accumulate shares.
the market has only been open a few minutes. If TC doesn't rally on this news, i would be surprised, but i guess since everyone else seems to have seen this news yesterday (based on the price action of TC), we should be glad its holding onto yesterdays gains.