<The fundamentals have not changed.>
The fundamentals have improved markedly. I remember the days when they had thin dimes they rubbed together. I don't think people realize how well financed (at higher prices than today, which may be part of the selling pressure) some of these outfits are now. The raised quite a bit of money in the last year, and if you look at the advanced names like MFN, NG, CLG, MNG, AGI, GBU, WTZ, NTO, RNO, NXG they are nicely cashed up, and active and I think LOADED. Those are your next generation of mines. For example Novagold: NG has a mkt cap of 205m, and 45m is cash, and look at what they control, remarkable.
files.presentation-direct.com
What the heck is that one doing at 3.90 at this point? Is somebody going to throw more of that one away tomorrow? Hope so.
I've spent every afternoon this week, going through the reports, listening to the presentations, calculating valuations, and this is a fluke that they are selling here. You'll get plenty of good news as the year progresses, and I would expect the majors to make some moves, and if not the market will be paying through the nose in 18-36 months when these guys start cranking out low cost gold and copper. There are some three baggers now even if POG stays at $350-375, and copper at $1.00-$1.20. Personally I think those prices go much higher. |
