Why anyone (retail investor) would ever buy paper precious metals is a mystery to me.
Careful Blake. I really like Ultra and everyone else on here. But ALWAYS do your own homework and analysis. Always.
Former spec ops operators friends would joke... the easiest person to find in NK is KJU. All you have to do is a satellite heat signature imaging. The warmest residence with any amount of folks hanging around is where he's at.
White, you may not be thinking about that suggestion through the right lens. Folks suggesting that are basically saying ... debt risk arbitrage. In conceptual terms.
Yup. They're making great $$$ off Tc now. They don't want anything rocking the boat. RGLD is making $100m margin on the stream. In round numbers, that could represent at least 1/3 of their current mkt cap!
The only thing ahead of the stream is the Secured 2017. In practical terms RGLD has no real risk with regards to the stream. It's superficial risk so to speak just because their deal is tied to TC. Think of it as guilt by association ... but you're not guilty. They will keep getting their 52.5% of the gold at $435 regardless of who owns MM.
I just noticed that the release will be that thurs pm with the cc the next day DURING trading hours. Not premarket. Intriguing. They've done this once before but don't remember when it was exactly.
I suspect that it will be a plain Jane vanilla cc. If there were any major announcements (repurchase, refi, crusher, etc etc) then they would've scheduled it for pre market.
I'm not upset about buying more when it was in low teen cents. But I am upset that I didn't convert my shares in ira to a Roth when I kept meaning to. Oh well. Eh. Am on fence with that.
Crusher decision should be telling. Hopefully announced with cc4.
But cash balance (adj for debt repurchase is what I'll be focused on!)
We'll see what the cc4 says. But I'm not too convinced that's they're game. Too many mixed signals out of Tc to believe they have some grand scheme like this.
Besides, wouldn't that get them in fiduciary hot water?
I know. This truth hurts. And not in the John Cougar Mellencamp's hurt-so-good kind of way either. Ugh.
stick this in your all's pipes and smoke some. scary thought for the night. sleep tight.
Uncle Sam is borrowing at very short time horizons (2, 10 years). Rates are near zero and about 2%. Old debt is getting short term financed right now near zero which is masking our debt problem.
Think about this. Interest rates just go back up to 4%... not a huge jump in the grand scheme of things since it was there not that long ago. That 2% increase will yield another $400B (400 BILLION!!!!!) in increased gov spending. Goes to 6%, where it was what about 10 years ago?, and thats an INCREASE of $800B. That's per year folks.
This economy is the quintessential house of cards.
Woh Bill. I would not be using THOSE arguments when you're talking about inflation rates, etc.
The Fed has been essentially "laundering" (yes, I'm using the term loosely) and hiding the money printing. If you think that the low inflation we are seeing now is not a structural shell game, you're nuts.
Ultra... all I know is that keeping a high environmental risk asset in an overall business that is CF neutral is 99 times out of 100 a very bad idea. Fine, presuming what you said will happen, then I'll amend it to basically be ... sell it if it NETS even a modest cash sum. They have too much risk on them as it is. I'd like to see them clear the field so to speak. Berg, Endako, etc.
And btw, once Cu 'recovers', I wouldn't mind if they sold off Amarc too. CASH CASH CASH. They need to be thinking less debt, more cash. If a decision doesnt given them either one, then its a "no go".
2017 moly rebound doesn't buy us a lot but better than nothing (if we still have it) I suppose. I'd rather they sell it for whatever they can get.
Dragon, there is a cost to keeping endako. I'd rather they sell it for whatever they can get. Keeping it has more risk than reward.