Loading ...MUX
Wow
This former darling owned and created and named for, by a man who was considered one of the Greats in the mining world……has fallen to near penny stock status
Who’s buying at that weekly line ?
……………….
This sector humbles EVERYONE who touches it…and destroys reputations
Sinclair , McEwen , Quinton Hennigh ( NOVO) , Even Eric Sprot has had some stinkers lately.
Where have all the Gold Gurus Gone ? Long Time Passing
There is no such thing as a gold guru- each one of those guys talk their play book and made sure to sell out at the top – still waiting on Sinclair to start paying his shareholders dividends in kind –
Have to agree unfortunately.
All the good “stories” end up like this.
LOOK at This at the height of Sinclair’s Popularity
Gold was about 450…now $1000 more and look what we have
http://schrts.co/hcRaMetn
I remember when silver was hitting 50 an ounce and Sinclair posted on JSMineset – “ this is its all coming apart and unraveling “ it was pure and utter BS – it was at this time that Sprott sold all his shares in his closed fund etc at 30%premium after having started the silver shortage rumour –
These gurus don’t give two FAKs about anyone but just lining their own pockets and Making sure they tell you stories to feed your fantasies about riches
Comment on MUX and a simple traditional fundamental sign:
Decades ago I think it was I first read the advice to sell something if bad news appears repeatedly within, say, a matter of several months or so — specifically, I think it was 3 negative news reports. MUX had several bad news items, so I sold. This standard advice is a good sign that I at least have not used enough. It’s one of those things that works great in conjunction with simple TA negative signs.
Active management rarely beats the market, the same applies in gold stocks, you have to cut your losers fast and be invested in several winners and/or recovery stories if not you will underperform. In the 2005-2010 market I performed far better than GDX by 5-10%/year better, but in order to do that you have to look for several possible winners, buy at low valuations, and sell gradually into rising shares price. Not easy, and in today’s market very difficult.
Comments on Quinton Hennigh:
I’ve never seen him in person, but for some reason he always rubbed me the wrong way even while I have found his online presentations interesting and enjoyable. Also, I always wondered whether he was involved in too many companies to be able to attend to all of them adequately. “Otto” of IKN has recently trashed him in a typically unnecessarily unpleasant way for not having come up with any successful producers ( https://incakolanews.blogspot.com/2019/11/heres-thing-about-quinton-hennigh.html ).
Nevertheless I — we — may be too skeptical too early. I admit that I am a happy NVO.v (Novo) shareholder, having bought way way low and sold a chunk coming down, so highly biased and with a conflict of interest to get other people to buy. Yet this — and quite possibly others of his — could end up being jackpot type things. NVO is way way up over where it used to be. Look into it. Brent Cook, who I believe is both skeptical and knowledgeable, was on Kitco in recent months praising another QH company, Irving Resources, which I do not know well. It is not over until it is over.
Well, KL is helping me be up a whole $200 today in the Spock/Plunger PF! LOL!
You like me were helped by our presumably mistaken decisions today, and one we shared was KL. I added to prior KL positions, most held for many years, on the price pullback on the Detour news. Almost all the Experts and even more so “Otto” today at IKN today indicate that I am a fool for this decision. Is it possible — just possible??? — that Sprott (bigshot KL moneybags) and Makuch (current CEO and president) might actually know what they are doing? Not if I made the bet that they were right I suppose. Nevertheless Makuch put out a statement saying his team could cut costs at Detour by 1/3. People like Otto have been complaining that companies like Detour are way too top heavy, with too many expenses going to unnecessary administrators who run an inefficient operation and Makuch has the reputation for efficiency. Presumably Makuch was just issuing hot air and we are foolish in owning KL and I all the more so for buying more.
An interesting anomaly is that while there was widespread denouncement of this merger as being the purchase of a bad bad property by KL, a strategic goof, Barmoral (BAR.v) has had one of those wondrous super spikes up over the past 2 days on having a lot of property in the Detour area and having announced that it has staked even more claims there.
(On Spock: I have made some sarcastic remarks about him and could make many more, but he has his pluses as well. I can’t go into details w/o revealing his portfolio.)
Any of us can be wrong any time, but KL to me IS the 1000lb gorilla!
Don’t bet too much against them.
I liked what Plunger said at the Rambus forum.
I don’t have access to Plunger. I was going to cut my subscriptions from 2 to 1 or zero. Instead I increased them to 3, but not to include Rambus. Not enough time though undoubtedly instructive.
Along with Balmoral (BAR.v) staking new claims near Detour to add to already significant holdings, Midland (MD.v), which I think also already had property in the area, used the KL merger as an opportunity to stake Detour-area claims and issue a news release. Are these press releases of Detour-area claim staking just pure pure empty of the worst opportunistic sort??? Maybe, even good juniors are opportunistic. Personally I think the managements of BAR and MD are among the better ones. (Disclosures: I sold MD somewhat recently in a purge of PFICs, somewhat reluctantly, but still have BAR in a retirement account and would have bought more recently if not for the PFIC regs and laws.)
Is it possible that KL bought Detour not just for the mine itself but because it thinks that the area around the mine looks enticing? It implied as much in its press release. Does KL know something about the geology that it can’t state outright? I am wrong more often than not, but I am not yet giving up on KL by any means.(!)
Hennigh is no one’s fool. Irving Resources is hitting bonanza gold. Ditto Lion One. Making money on both (a rartity; I have to pinch myself daily. Shoulda bought more!!!). They are cashed up and ready to go in Lion One; Irving is already shipping ore for processing to a plant in Japan that pays them for the non-gold deposit in the ore. Their drilling program is aggressive and they have partnered with very smart folks in Japan. Irving will be the first new gold mine in Japan in many decades. From what I’ve seen so far, they will be bringing a lot of gold up and out. A lot.