There is nothing more important then having great management. I would hands down rather have exposure to a respected, honest management running a mine in risky areas then having a lousy dishonest management running a mine in Canada.
When Silvercrest has its Santa Elena mine in Mexico held up by thieves and valuable precious metals stolen, it tries to keep it quiet and refuses to disclose the event to the market.
When Pan American Silver has its La Colorada mine in Mexico held up by thieves and valuable precious metals stolen, it tries to keep it quiet and refuses to disclose the event to the market.
When McEwen Mining has its El Gallo I mine in Mexico held up by thieves and valuable precious metals stolen, it immediately discloses the unfortunate incident to the market.
So apart from the way that one company has measurably more respect for its shareholders, nothing much to report here.
The previously released Durable Goods report has already shed some light on todays wholesale results which turn out a failure again, 3rd month in a row. Perhaps market anticipated todays results, and waited for report to be released today. Giving them another opportunity to screw with us (like the past few days) before the run up to 1300.
Thenwhydid, please dont skip weekends..keep posting 24/7 , I want daily reminders if possible. Weekends is play time I tend to forget..thank you
gold will do better once intrinsic values of the economy is revealed. Right now the bubble continues with air capacity noticeably diminishing.
we need a follow thru after the dismal GDP is reported on Weds...at the very least I think the dollar has reached a ceiling and has been on the declining slope since the dollar index reached the century mark.
Like I said recently, first quarter will be very telling in which execution would be imperative. Mux has been internally active reducing cost and improving efficiency at EG1 and EG2..some folks have underestimated the potential difference in production at Magistral(EG1) this year, at the time it didnt seem much but the results have now given us some encouraging outlook . The Extra 12 ounces with over 40 percent reduction in tonnage, made a large impact. The lower cost is reductions at El GALLO 1 were remarkable..gold equivalent cash cost from 720 to 460 ..AISC from 1046 to 611 . Meanwhile at EG2 there has been a mark decline in capex over the last few years and the forecast is a further cost reduction ..feasibility study pending 3rd quarter.
well its like this, If somebody you marginally trust asks for a $50 loan and offers to pay you $60 in a month, it might not be worth the risk, but what if $100 was offered? The risk of losing $50 to make $100 might be appealing. RISK/REWARD...Mux was clear with there goal and strategy. They also provided us with measurable guidance along the way. MUX did not sit on there butt They took on some more risk for the good of our investment, the execution was flawless. Now im looking forward to feasibility study for EG2, and when the devaluation of peso is closer aligned to inflation in Argentina. The new govt hopefully will be ready to allow a deval like the begiining of 2014. There is excellent opportunity here plus others in this sector
interesting webcast..included someone from goldman sachs saying they think mux is way undervalued...also, rob mentionining they had a couple of offers for Los Azules but the offers were too low.
All actions or mining moves have consequences. So does lack of action. With the margin for error slim in today’s environment, you want to make sure you’re thinking as coolly and clearly as possible...this is what I see in Rob.
Glencore is submitting a EIS application for its El Pachon project towards the end of the year This is relevant to Mux because its very close proximity to Los Azules. There are those in the field that feel it wont take long to get it approved. Glencore is hopeful the mine would be up and operable by 2018 but it will probably be closer to 2020. However any project development at that size would be great news , it will add great amount of merit and recognition and instantly makes that area more viable place to do business in. The infrastructure and the supporting industries that will be added alone makes Los Azules more valuable.
Drfish..hows it going? what differentiates mining investments from other investments is that a road map is provided. This is what we found, this is where we found it, this is how we going to do it, this is what we need, this is how long it will take, these are the obstacles and these are the people that will take us. Take advantage of that. Apple is a less risky investment but it can not provide a written journey like a mining investment can provide. Study it, learn what to look for and ask lots of questions. Over the years I've spoken to many in the industry and learned much more then just googling can provide. Just pick up the phone...most are more then willing to help you through it.
Not sure if most find this to be a negative but I personally be more pessimistic if they were not preparing themselves. .they could easily seek a much smaller amount of funding...what does that tell you? Especially knowing rob's position in the company..