I think the newsletter sucks too. I will not get a renewel. I did not buy goro thank god but waste 2grand on a subscription
Expect to be down close to 10% on large volume Tue.
Both, he is getting killed since Jan. Can not post his picks though, I am a long time subscriber and will not renew. He sold out buying small caps trying to trade ahead of his subscribers. avoid !.
Warmcamp, we have chatted on the old MFN board before. I am not a shareholder of GORO but would love to get your take on this company. I read a very negative article about the Reid's in Barron's last year and also I think the dividend was enacted to attract people who are not familiar with the mining sector. The numbers are ok, but if you did below the surface you find inconsistencies. I think this one might collapse. What is you opinion ?
Are you optimistic about the prospects of the company (ie insane) or just hoping for a technical bounce to cash in on ?
As if management was not incompetent enough, can you imagine how effectively they will run the company now that they are dealing with multiple lawsuits and hordes of angry share holders ! I would expect new resignations this quarter and further loss in market cap.
meanwhile he continues to recommend the company. He is probably looking for buyers for shares he is trying to unload.
Puplava also seemed to be heavily invested in this one.
I am long the gold market but goro is not the real deal. This would also explain the poor institutional ownership.
In my experience issues like this one targeted at the retail (ie small time) investor are never what they portray themselves to be. The ending of this story will be ugly.
The assets are completely worthless unless they are backed by competent management that can extract them profitably. give me a break !
I am not too surprised with fall fast approaching some aspects of the construction like poring concrete will be impossible. So lets just hope the they do not also increase the cap costs. If not, it may mostly be baked into the cake at this point in terms of share price.
Be careful if you are a US taxpayer, do NOT hold Detour in anything other than an IRA or you will likely be audited and have a large tax bill when you close your position, assuming a gain in value. This company has a much higher tax liability than normal LT and ST cap gains. This is the main reason I am not a shareholder. PFIC declaration is on the Detour corporate website. (yahoo will not allow me to post the web link).
google "passive foreign investment company" if you are not familiar with PFIC. It is potentially a huge burden if you are a US tax filer and own Detour.
Good call on Sandstorm. I remember looking at it a few years ago. Seems to be a mini silver wheaton, with a focus on gold. I am sure it will do well. Silvercrest sounds good too, I am going to look into that one.
I bought quite a few small silver producers like Fortuna when I started out. They were covered by Doody, but not his top 10. Then after the crash he said he was not going to cover silver stocks anymore because they were primarily industrial, and the price was way down.
Now this year he announces coverage of silver stocks again, after a big run up from 2009, but now in a separate publication so he can siphon more money off of his subscriber base. Glad I did not follow his advice and sell. And no I will not shell out more money for a second subscription !
I wish there was a private forum subscribers could discuss GSA picks, but I guess this is the best we can do for now.