Se ve bien el perro amarillo, ¿verdad? ... starting to attract hot-money interest, with all its risk along with its reward ... but it's time, for sure ... i have never seen a thread from the resource ghetto on hot subjects, ever, i believe three categories here to be excluded from it - canadian, gm&nr, and five dollars and under ... you can imagine how i feel about the first two, being a red-blooded colonial goldbugger -g-
Here's one of my long-time favourites, X-Cal - #reply-15713712
Near fifty per cent recovery yesterday - stockcharts.com
... so i would recommend caution on buying in this environment, however i am sitting on, in addition to house-money paper collected from trading in previous years, a decent whack of shares bought between .10 and .15Cdn, and shall not sell any next week under fifty cents ... even then not many, and only as a bow to discipline
What i like about xcl, in the classic Three Ps form -
1. People - i like management style - #reply-16990859 ... now, not everyone does - the independence of attitude can lead to a lack of allies in certain influential circles of promotion [the 'wet coast whorehouses' referred to in that post] .... however, the guy is well connected in his own unique way - he was likely aided in this early on through his mother being a well-known early television personality in this country, on the show Front Page Challenge, she is now a senator in our house of lords, and married to a fellow panelist of FPC, Pierre Berton, noted historian and raconteur ... and of course they know a lot of people, many of them europeans with an interest here ... however, the guy inspires confidence all on his own, through his own actions, imho
2. Property - xcl has three, Sleeper, Mill Creek, and Snowbird -
a. Sleeper - Amax really screwed up in mining here without a comprehensive plan and then mothballing the thing [the mill is sitting on top of high-grade, duh] ... five millions ounces at 160US c.c. probable at this point, with blue sky all around [check the Kappes Cassidy report on the website] ... very low political risk in the state of Nevada, it is right up there with el estado de Sonora and the province of Québec, imho
b. Mill Creek - Placer will end up with this one, they are assembling land all around it ... just a matter of how much they pay, and when ... there was a deal last year, but some level of pdg's chain of command botched it ... they'll likely pay more now, in light of current PoG trend
c. Snowbird - as an inmate of The Sheeple's Republik of Lotusland, for many years i have had qualms, nay a distinct repugnance, against holding any company active here in BC ... however, there is a new guvmint now, bit of fresh air, things may happen at Snowbird, it is a highly prospective property .... in no way does it compare to Sleeper at this point though
3. Phinancing - they don't got much ... SK has been reluctant to dilute at low levels, any more than necessary, that's why the low G&A and lack of drilling etc, he's been lining up all the cheap ducks he can for several years now, spending as little as possible, building ammo for when The Time comes ... well it may be here, shouldn't be too difficult to raise funds in this environment .... but of course this could be another false start, and whoosh back to 280PoG monday morning, who knows ... we shall see
X-Cal has ~50m shares out, so at .25Cdn the unit it has a market cap of 12.5mCdn, or ~8mUS ... let's say all they ever develop is 5m ounces at Sleeper, that would give each ounce a cost of a dollar sixty estadounidense ... hmmm, eh -g- .... of course that is waaaay too simplistic, they must yet raise funds ... still i like it .... cheers |
