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Endeavour Silver Corp. Message Board

tthemainman38 123 posts  |  Last Activity: 23 hours ago Member since: Nov 17, 2009
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  • tthemainman38 tthemainman38 23 hours ago Flag

    No bout adout it, management stated one thing, then did another. Also, there is little doubt that the dividend cut contributed to the hair cut. On the other hand, one has to consider that the BDI is making record lows while many were expecting a recovery. Cutting the dividend, while painful was the right thing to do to assure survival. Do we not expect management to adjust to current conditions? Suppose the dividend had been maintained and cash flow problems drove the company into bankruptcy down the road. Wouldn't we be complaining then that management mishandled finances by continuing the dividend? Remember, management has a huge position in the company, so when we feel the pain, they also feel it. This company will survive, then thrive because of management's commitment.

    Sentiment: Strong Buy

  • tthemainman38 by tthemainman38 Nov 26, 2015 1:31 PM Flag

    Angeliki Frangou has always been highly regarded on this message board and elsewhere in the past. Lately, that sentiment has seemed to change. I realize that a cratering share price is extremely important to we longs and venting is normal. I also realize that the reduction of the dividend for nmm seemed a betrayal after management stating that it would remain in place through 2016. Unlike many CEO's, Frangou has a huge ownership position in the company aligning her goals with ours.

    My question is should our CEO be considered one of the best in this sector ?

    Sentiment: Strong Buy

  • Reply to

    Nice recommendation from Barrons!!

    by premiumpmpm Nov 25, 2015 3:43 PM
    tthemainman38 tthemainman38 Nov 26, 2015 1:01 PM Flag

    No bout adout it, the carnage suffered by this sector has been epic. Sure, protracted low oil prices will lower earnings for oil producers and that will curtail their spending on capex leading to a reduction in drilling which in time will effect the drillers. These cycles have happened before and you know what, they reverse themselves. In the meantime, we're covered until 2017 because of the pipeline. A lot of really smart people have been badly burned by this sector, not because they didn't anticipate a downturn in the share prices of these companies but because they didn't anticipate the scale of it. At this point, the cratering share price is on account of sentiment as opposed to fundamental weaknesses. We're in the doghouse for sure but you know what, it won't be forever. Oil will recover, it always has and will continue to do so.

    We longs are hurting for sure BUT we will have our pay day.

    Sentiment: Strong Buy

  • tthemainman38 tthemainman38 Nov 26, 2015 12:37 PM Flag

    mwalk - Management has maintained a positive view on metal prices for years, unfortunately, the market takes it own direction. Fortunately, management has been very pro active in reducing it's costs. It is one of the lowest cost producers now that El Cubo is becoming the operation that they expected. Regarding the cash raise, my guess would be that the additional money is needed to develop Terronova. That asset, when developed may become the crown jewel. What's needed and may be coming is higher metal prices.

    Everyone is expecting the metals to fall when interest rates are raised. While everyone thinking this may be right, my thought is that the herd will be wrong. My expectation is that when interest rates go up, the metals will fall initially and then rise. When they raise rates, it will be a quarter of a per cent and they will hold that rate for a long, long time for fear of damaging an already weak economy. I don't see many fleeing precious metals to capture that miniscule increase. Besides, the banks will keep it all and not pass it on to savers. Have you noticed that the banks have been raping the savers for years with the miniscule rates that they pay while charging increasingly higher rates to charge card holders? That's where their interest lie, not lending to small businesses but to expand their credit card businesses. Have you noticed that the rates that ALL banks pay is practically identical, no competition for savers, at all. Collusion, for sure while the government not only allows it but facilitates it by allowing them low rates when they come to the window.

    I apologize for the rant BUT this manure really ticks me off.

    Sentiment: Strong Buy

  • tthemainman38 tthemainman38 Nov 25, 2015 7:13 PM Flag

    Dilution at current levels is troublesome, to say the least. Some investors will see this as a sign of desperation ,. While I have always stated that management is the Best of Breed because they have always delivered as promised, actually over delivered and did a great job of keeping investors informed, I'm afraid that this action may lead to a new low. I must admit, this took me by surprise because I thought them to be financially solid.

  • tthemainman38 tthemainman38 Nov 24, 2015 7:13 PM Flag

    Did you not notice the line in the article that you cite that stated "While a recovery is inevitable as the world will need oil and gas for generations to come, it's now anybody's guess whether it will start in 2017, 2018 or even 2019." It's similar to what I've been stating, no one knows, with certainty, what oil prices will be in the future. It could even be 2016 for all we know. Keep in mind, no one was thinking $40 oil when it was selling for $100 plus a year ago AND it is not an impossibility that it could reverse itself over the coming year. One thing though, oil prices have sagged in the past and always came back. That's not a guarantee but something to consider.

    Sentiment: Strong Buy

  • tthemainman38 by tthemainman38 Nov 23, 2015 4:14 PM Flag

    Would it be possible for the shippers to immediately scrap whatever percentage of their fleets necessary to remove excess capacity to reverse declining rates. Initially, they would take a hit but this would self correct because ship values will rise and more importantly rates would rise. Everyone sacrifices to assure the survival of all. Of course, some may not want to co-operate but with no other options available, it might be feasible.

  • tthemainman38 tthemainman38 Nov 23, 2015 3:45 PM Flag

    To read very long term.

  • tthemainman38 tthemainman38 Nov 23, 2015 3:44 PM Flag

    Containers are doing it for nmm and those contracts a veryon term.

  • tthemainman38 tthemainman38 Nov 23, 2015 3:42 PM Flag

    sleepingoneoff- Not that I would expect this to happen BUT a quick solution to correct the falling BDI would be if every bulker would agree to scrap ten per cent of their fleet. Initially, they would take a hit, but the remaining ships retained would increase in value and more importantly, rates would rise to a profitable level. In the event that ten per cent wasn't sufficient, increase the scrapping until freights chasing vessels.

    Sentiment: Strong Buy

  • tthemainman38 tthemainman38 Nov 23, 2015 3:13 PM Flag

    brutis - You nailed that one.

  • tthemainman38 by tthemainman38 Nov 23, 2015 12:43 PM Flag

    Once again, no one knows with certainty the price of oil in the future. What we know is that the price of oil has crated in the past and has always recovered. Some might say that it's different this time. Perhaps they are right, perhaps not. New paradigms don't happen that frequently so smart money would probably bet that it will be same old, same old, oil prices falling than rising. While many of us tend to speculate, myself included, we're best off looking at what is. Here's my take on what's happening that could affect toil prices in the near term.

    With sanctions removed Iran will be trying to increase output. The shale drillers are hurting mightily with production down a half million bpd and some of the little guys are facing bankruptcy because of over borrowing. The US is making noise about blowing up oil wells in the mid east. While China is slowing a bit, total oil usage isn;t abating. I know that I'm driving more now that gasoline prices have come down and I always considered myself a typical guy. Does all this mean oil prices will rise going forward, no one can say with certainty.

    Just thought of one other factor. Oil speculators, when these baboons get active, the price of oil goes absolutely nuts.

    Sentiment: Strong Buy

  • Reply to

    What's Going On ?

    by tthemainman38 Nov 21, 2015 9:16 PM
    tthemainman38 tthemainman38 Nov 22, 2015 4:56 PM Flag

    Sleepingoneoff - When you're right you're right, no bout adout it. Despite this, ORIG is so undervalued that despite management, it's a huge buy. My hope is that everyone has become aware that Economou raped DRYS. thus, may hesitate in attempting a repeat with ORIG. I' m surprised that the the class action vultures haven't moved on DRYS management. I doubt that DRYS will file for bankruptcy because a judge would order a claw back to reverse the sale of the oil tankers, Economou to Economou for chump change.

    Sentiment: Strong Buy

  • tthemainman38 by tthemainman38 Nov 21, 2015 9:16 PM Flag

    As is my practice. I read all the postings on the message board, both long and shorts because there is always something to be learned. Many are ticked off at Zacks because they have praised the company, citing their pipeline, cash on hand and earnings. The thing is, Zacks has it right. The company really has produced, thus far, as promised, with one exception, the share price. For whatever reason ,Mr Market hates this company. Over the past 15 months or so every company in this sector has been severely spanked, none harder than ORIG. Market sentiment has been in the pits. Way over done in my opinion. While market sentiment has improved for some of the drillers over the past three months. ORIG share price is still getting killed. Of the seven drillers that I loosely follow, four of the seven are up over the past three months while ORIG is once again down the most, 36 per cent for that time period. What the heck is going on. Compared to other drillers, we're fairly solid. Regarding debt, we have more than sufficient cash on hand and cash flow to weather the storm. If oil will never rise, why are other drillers seeing their share prices rising while our desent has actually increased downward? Unfortunately, I'm of the opinion that the Street hates our management and board of directors. If others think differently, be happy to listen.

    Sentiment: Strong Buy

  • tthemainman38 tthemainman38 Nov 21, 2015 7:40 PM Flag

    gollywagozoo - While there is no doubt that the dry bulkers and drillers are in a difficult patch fundamentally. market sentiment is much worse than reality. Regarding drillers, because of contracts, current revs and earnings have scarcely been impacted . Despite this , many of the companies in the sector have had their share pries decimated. While ORIG has been smacked harder than most, none have gone unscathed. Given the fundamentals, ORIG is a gift at current prices.

    Sentiment: Strong Buy

  • Reply to


    by lakeed98 Nov 16, 2015 12:30 PM
    tthemainman38 tthemainman38 Nov 20, 2015 12:22 AM Flag

    islandboy1946- A thumbs up for you. Unbiased news no longer exists and the republic is suffering greatly because of that loss.

  • Reply to

    Losing Hard?

    by conniestefanskitsr Nov 16, 2015 9:50 AM
    tthemainman38 tthemainman38 Nov 16, 2015 9:36 PM Flag

    goldbed - Why waste your time responding to the pecker heads. Earnings will be announced soon and they should be decent. Hoping the cash on hand rises to a billion. What's needed is the an announcement that the Santorini has been pushed forward to a 2017 delivery or that an extension of a rig about to go off lease is extended.

    This whipping of the sector is probably 40 per cent negative fundamentals and 60 per cent market sentiment. Sectors fall in and out of favor all the time. Once market sentiment turns, it won't take much for the share price to rise significantly.

    Sentiment: Strong Buy

  • tthemainman38 tthemainman38 Nov 15, 2015 7:21 PM Flag

    They sold a $17.20 stock for $14 two plus years ago. The market and sector performed extremely well during that period of time while FLY's share price languished. Longs own a stock trading for $12.50. Who are the stupid ones ?

  • tthemainman38 tthemainman38 Nov 15, 2015 11:42 AM Flag

    All true and yet a few will still defend him.

  • Reply to

    How low will the BDI go thread

    by pfapooh Nov 13, 2015 7:49 PM
    tthemainman38 tthemainman38 Nov 14, 2015 11:16 AM Flag

    Does anyone have current information regarding the direction of worldwide tonnage being shipped. I'm trying to ascertain whether overbuilding of ships or a decrease in tonnage shipped is causing the BDI to collapse. Likely a combination of both. An acceleration in scrapping seems to be the solution but each shipper is probably waiting for the competition to scrap or fail. I tried Google but couldn't find current information. I would appreciate it if someone could supply the info or direct me to a site.

1.38-0.08(-5.48%)Nov 27 1:02 PMEST