Posted by Buygold
@ 10:35 on March 27, 2020
No question they’ll outperform and I have quite enough MUX about 15K shares. So I’ll be picking up others, I mentioned GORO, I’m still a believer in GPL too.
The one thing about the royalty companies is that they are way less volatile and less likely to shake me out.
But once we really get going I’d think MUX, GPL and a slew of others that mine a few hundred thousand oz. a year will be easy 5 baggers, if not more. Right now though, I’m sitting on huge losses with MUX so added a little around $.70, but looking for other names.
Barrick (GOLD) is holding up well on a day when things are ugly in the pm realm. Trying to flip my way through the ugliness until we really get going.
Got my SSRM at $12.75 – so far, not so good…
Posted by ipso facto
@ 10:35 on March 27, 2020
TORONTO, March 27, 2020 (GLOBE NEWSWIRE) — McEwen Mining Inc. (NYSE: MUX) (TSX: MUX) reports that it has fallen below the New York Stock Exchange (“NYSE”) continued listing requirement related to the price of its common stock. The NYSE requires that the average closing price of a listed company’s common stock be above US$1.00 per share, calculated over a period of 30 consecutive trading days. The Company was notified by the NYSE on March 24, 2020 that the average price of its common stock for the previous 30 trading days was below US$1.00 per share.
McEwen Mining intends to take steps to regain compliance of the NYSE continued listing requirements. Under the NYSE’s rules, the Company has a period of six months to bring its share price and 30-day average closing share price back above US$1.00. During this period, the Company’s common stock will continue to trade on the NYSE, subject to all other continued listing requirements. At the end of the six-month remedy period, if the share price has not recovered, the Company’s stock will be subject to NYSE suspension and delisting procedures. The Company’s listing on the Toronto Stock Exchange (“TSX”) is unaffected by any actions of the NYSE.
Posted by Maddog
@ 10:30 on March 27, 2020
Re SSRM
Good luck….I paid @ $ 15 for it a few years back, or more…saw it all the way down to the lows sub $ 4.00…shudder….whoop for joy every time it sniffs $ 15….and then it falls apart again…it drives me nuts…not sure if I hate it or love it…..I just know one day it will go bonkers, along with Ag…..so can’t sell it, as the next day it will…… good luck….
Posted by Captain Hook
@ 10:17 on March 27, 2020
Actually I think the growth companies like MUX will outperform once this new bull matures.
Cheers
Posted by Buygold
@ 9:59 on March 27, 2020
I’m getting there slowly, trying to watch the shares that have performed pretty well during the downturn and of course royalty companies like RGLD, WPM, SAND and FNV that aren’t susceptible to actual mining risks.
I won’t make that mistake again that I’ve made for the last 20 years thinking they were too “expensive”.
I do like GORO because they will pay their dividend in phyzz if you want. Unfortunately, their dividend is so low you don’t get much.
edit: also like KL because their earnings are so strong and they’ve dropped in half.
Posted by Buygold
@ 9:54 on March 27, 2020
yields down to .74% from .80% yesterday.
Bank of Canada cut rates for the third time in March down another half point to .25%
Everyone is going negative folks. When countries like India finally have negative rates we know it’s game over.
Posted by Captain Hook
@ 9:52 on March 27, 2020
The shares will rip into summer once the test of the lows for the broads is completed.
Get long.
Cheers
Posted by Buygold
@ 9:48 on March 27, 2020
Which I do quite often, I put a bid in for SSRM @ $12.75.
We’ll see if it gets there.
Posted by Buygold
@ 9:39 on March 27, 2020
Shares being held back today as the SM opens down is sure what is happening.
Hopefully, ultimately the shares will follow the metals though as they’ve done in the past. They are still ridiculously cheap and if/when they do, that’s where the real money will be made.
Agree with you about the current deflationary scenario, however I do think that when this Covid-19 drama is over the pent-up demand at least in our industry will be inflationary. We are trying to lock in prices now for some of our contract that stretch over a 2-3 year period.
Posted by ipso facto
@ 9:28 on March 27, 2020
Posted by Buygold
@ 9:25 on March 27, 2020
even silver coming back.
Shares will be bruised and battered at the open though. Will be looking for some trading bargains.
Posted by Captain Hook
@ 9:23 on March 27, 2020
No no.
Gold and silver are not collapsing like they did in the first wave of the stock market sell-off.
They are sold out. OI on both are collapsing at Comex because the bankers know their upper ups are trying to collapse the system (via corona virus hype right now) and they should not stand in front of what is coming.
Couldn’t be more bullish. On stock market up days (when they forget about deflation risk) PM’s will rip.
The PM stocks will be held back on stock market down days however.
Cheers
Posted by Buygold
@ 9:21 on March 27, 2020
Probably get an amazing stick save in the SM when it passes – just a guess – I mean Congress spending is almost like the Fed speaking, always a nice injection into the veins of the SM.
Republicrat Senator Pat Toomey of PA. wants the Fed to double their balance sheet from $4.7 Trillion to $9.4. Something tells me they’ve already done it. So many insolvent banks and corporations to save.
Glad I’m not in New Jerk City, they are getting crushed by the virus. Over 350 police officers positive, a police janitor dies. 170 Fire Dept. guys are positive.
Craziness.
Posted by Buygold
@ 8:53 on March 27, 2020
Concur. Everything back to normal.
The power of the printing presses and computer entries apparently trumps everything.
edit: GLD trying to make a stand now only down $.40
Posted by Buygold
@ 8:51 on March 27, 2020
and to a lesser extent GLD
Looks to be a rough opening for us on the share side too as GDXJ is down 3.5%
Funny how a few days ago, I thought “this was it!” now everything is sort of back to normal.
The only kicker is that physical is a little less available and more expensive from my dealer.
Love the 90% silver bags but not at their prices…
https://www.golddealer.com/product-category/products-2/bullion/silver-bullion-coins-bars/
Tough to get gold as well and premiums are stretched…
https://www.golddealer.com/product-category/products-2/bullion/gold-bullion-coins-bars/
Posted by Richard640
@ 8:50 on March 27, 2020
I know went absolutely, foamin-at-the-mouth ape sh*t…indulging in an orgy of doom and gloom…with all sorts of predictions for 3000-5000-10000 gold and the total collapse of the economic system….that made me suspicious…and I am still not sure they were wrong…that said gold is back to being a snooze fest…
Posted by Maddog
@ 8:46 on March 27, 2020
April Gold is 1618.3 and spot is flat to $ 2 discount only…..Crimex Premuim has dissapeared …was out to $ 40 this time ystdy.
Posted by Richard640
@ 8:38 on March 27, 2020
They are delayed 10 minutes…real time june gold is 1836.70 down 23.70 on fox biz news ticker….May silver is down 17
https://futures.tradingcharts.com/marketquotes/GC_.html
But the $ is creeping up….nothing threatening yet–up .126…
Posted by Buygold
@ 7:50 on March 27, 2020
Kitco shows gold down $2.50, Silver flat
GLD shows down $.72 implying down $7.20
Netdania shows down $6.30
CNBS shows futures down over 1.1%
Posted by Buygold
@ 7:44 on March 27, 2020
Me thoughts he was another guru of sorts… 🙂
Just another guy with a twitter account and an opinion.
They might open the refineries to save the Crimex, but it won’t be Trump’s doing – maybe London and the BIS.
Posted by Buygold
@ 7:40 on March 27, 2020
Got kind of excited when I woke up and saw the SM getting hammered only to see pm’s flat and the shares down a bit in the premarket.
Boris Johnson has the Covid-19 – that sucks, although I’m not sure he’s real sick from it.
Hell, probably half the country would test positive if everyone was tested.
So the beat goes on. Again, was really hoping we’d be approaching $2K by now…
Posted by Richard640
@ 7:38 on March 27, 2020
looking t it this a.m. I have no idea what it’s about or why zi posted it ….lol
I’m watching the $…are you….now it’s a non-factor….only up .42…I don’t want to be out walking my dog and come back in and see it up .879 nand gold down $50…
Posted by Maya
@ 4:03 on March 27, 2020
Posted by Maya
@ 4:01 on March 27, 2020
LOOK AT ALL THE HUMANS THAT CAN’T EVEN
“SIT” and “STAY” !
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