Loading ...For Graddhy… current list of miners
These are the largest positions that I have in miners in order.
Newmont… for the reasons that I have outlined in multiple posts.
Pan American Silver… They have the best balance sheet of the primary silver miners and a net cash position. The Chairman and Founder, Ross Beaty has a ton of skin in the game, and just bought 200,000 more shares 2 weeks ago. Their current expansions have the potential to lower AISCOS of silver to less than 10$ an ounce by 2017.
McEwen Mining… I highlighted this in a post awhile back. Rob McEwen has been buying millions of shares recently. MILLIONS. Anywhere Rob goes, some of your money should follow.
Richmont… I have highlighted this name multiple times as well and their Island deep expansion.
Always follow the companies who have managements whose monetary interests are aligned with that of shareholders. Rob owns 25 percent of McEwen mining. Their new company president has 400,000 shares. Skin in the game. A good example of a company who had management who IS NOT ALIGNED monetarily with shareholders is Goldcorp. They have just taken and taken and taken. When is the last time any insider bought stock in Goldcorp? Multi multi million dollar compensation packages for nothing but broken promises. Anywhere the Goldcorp gang goes, run for the hills. This includes TAHO, this includes SLW, this includes PPP.
Cashcosts,
what do you think about SSRI and FIRST MAJESTIC?
Would you sell them to buy PAAS?
PAAS is my favorite primary silver producer. That’s all I can really say on that one.
Concise and effective,
thank you Cashcosts
I appreciate the emphasis being placed here on fundamentals.
I think that makes the most sense, if we are embarking or will soon be embarking on a new bull run.
That is not my position at this time, however.
And one of the observations that I made coming out of the ’09 equities bottom, was that the biggest gainers were often the WORST managed companies. Why?
Because they were on life support and the rally took them off the list of having been given up for dead.
Please don’t misunderstand me though. I’m a conservative investor and careful trader.
But don’t be TOO surprised if some of the biggest dogs outrun the cream of the crop once the sector comes back to life.
I don’t disagree. If we are indeed at the bottom and the move up is swift, the crap like IAG, AUY etc will outperform. If we aren’t at a bottom, the junk may end up on the pink sheets.
Cashcosts,
a corpse like DRDGOLD has outperformed almost everything over the past month.
Another corpse like GPXM did the same in ONE DAY.
If these crap are outperforming, MAYBE the bottom has been made (or we are very close).
Yes, the only problem is that you have to buy it when it is a corpse and not when it was still alive.
NO doubt about it 🙂
Another great post cashcosts! Thanks for the info. I like Perseus Mining (still holding it) for its ongoing, sold forward hedged contracts at $1276/oz, large proven resource within a largely unexplored mining region in west Africa, $100M in cash.
Agree with you on the others. Have owned them in the past… but need to check out Richmont.
Thanks CC, much appreciated. Agree on Rob, solid as a rock. Also, I seem to remember that MUX have or has had parts of their cash in gold. I am a bit surprised on your focus. Feel we need to discuss this in depth later on. Thanks again.