Hi, Claude. Well, we have been through part of this discussion once, and I am still confused about the criteria you apply to other stocks besides MYNG. Or, maybe you are using a double standard? I would at least be right in saying you are applying a stricter standard to MYNG.
CC: "No matter what the long term potential is, current numbers do not support the case for a market cap of US$ 72M. This valuation will make sense when GE produces cash flows will be growing and approaching $10-$15M per year".
Claude, I rode FGX all the way to conversion to GLG, and I picked up CKG in the process. And I bought more CKG, based on your hype for the stock. So, I have no problem with your hyping the stock, and I definitely am going to hold out for your wild prediction of $10-$20 a share. LOL. I only have a problem with your justification. I say that your wild prediction is based on anticipation, and not on the criteria you lay out for MYNG.
May I use your statement?: "No matter what the long term potential is for CKG, current zero reserves and resources zero positive cash flow and stock price of around $4 do not support the case for the current market cap. This valuation will make sense when CKG reports some proven reserves and later, produces cash flows that will allow a reasonable P/E to be applied to set stock price".
CC: "Stocks are valued either on cash flows when they are producers or on economic reserves when they are explorers or on a mix of these two numbers".
If you really believe this applies to MYNG, why doesn't it apply to CKG and SWG? Claude, how in the world can your statement be correct, when CKG has zero reserves, resources, and no economic cash flow? Surely you are valuing these stocks on other factors. You are hyping these stocks, if I recall your many posts, on what POTENTIAL you judge they have. Sure, just like MYNG's extremely experienced team, CKG has an experienced team. MYNG has lots and lots of samples, and previous documented history of over 32M ozs produced in our area. We have tunnels, shafts, and lots of samples at depth, just like SWG. We don't have money like CKG does, but you told everyone that the money is only worth about $1.50 of the near $4 share price for CKG. So, the stock price is worth more to someone buying it, and it is not for the reasons you give? Claude, you need to be consistent. If you think we can only develop a value based on economic production, so be it. Just apply that to your other companies too. If they can drill off proven reserves (we can't do that), I will grant you that you can establish a value for CKG when that happens.
Before you comment about hype, let me point out that you once said: "I promote, but I do not hype". Surely you realize that the definition of hype is in the eyes of the beholder. My definition of hype: " when a stockholder, analyst, or other person offers an opinion about a potential future stock price, and does not base it on proven reserves or resources, or on a positive cash flow".
Claude, let me quote you:
To:ogi who wrote (104)
From: Claude Cormier Thursday, Jan 2, 2003 2:13 PM
View Replies (2) | Respond to of 440
Ogi,
<Wish I had CKG too but for now I must console myself with the thought that one cannot kiss all the pretty girls. >
CC: "IMO, it is not too late. CKG will have a few hot irons in 2003. I have no doubt that it is only a matter of time before Reifel and team discover another 2M ounces plus gold deposit. In other words, I have no doubt that it is only a matter of time before CKG is $10-$20."
Gee, no hype here? It at least fits my definition of hype I gave above.
Well, Claude, you are entitled to hype potential number up to $20 a share, based on factors other than what you claim.
To be fair, please let some of us loyal MYNG shareholders do the same. We have ever increasing positive news. We have actual production. Future increase in production will get us to positive cash flow ("I have no doubt"). An important milestone.
We anticipate a full sized 11,000 tpd plant by year's end, possibly producing 50,000-100,000 ozs per year. Remember, we ANTICIPATE, similar to your "I have no doubt". If you have the right to anticipate CKG from $4 up to $20, we have the same right for MYNG. Sure, CKG will be trenching and drilling and proving, hopefully just like you anticipate. But, by the time they do that, MYNG may be operating the second large plant, and be on the way to catching up with CLG on their annual production. At least that is what a lot of us longs anticipate, based on tons of DD.
I think we can both agree that "to each his own". You put your time in DD for a lot of companies. I'm sure you do not use the exact same criteria for each to anticipate a future stock price. Some of us have tons of information that convince us MYNG has the potential to far exceed your hyped up $20 price for CKG. LOL. Claude, I hope you take this in the right spirit. I am using sarcasm like crazy just to make some valid points. Let me end this on a very sarcastic note. You said:
To:chummer who wrote (188)
From: Claude Cormier Tuesday, Jan 14, 2003 2:29 PM
Respond to of 440
CC:"After the 160% increase of the last 6 months, it only make sense that CKG pauses occasionally. Such corrections are always healhty (sic)".
A pause in a runup for CKG, based only on hype, or at least based on "promotion". The recent correction in MYNG is also a pause, after a 500% runup, and will be a healthy base on which MYNG will rise to much higher ground. And just when the production will go on up to 3500 tpd and then 11,000 tpd, while processing potentially higher grade ore. Sure, the price of MYNG may have gotten ahead of needed facts, just like SWG and CKG, but eventually the production profits for MYNG will force the stock price to come in line. I hope this applies to SWG and CKG as well.
Gee, I have convinced myself that this is no longer hype, this is "promotion".
Claude, please excuse my sarcasm and bluntness. All I ask is that you play fair. But, believe me, I am not trying in any way to change your mind about the company. Our stock price will be based on production. We actually don't need any analysts' promotion, sorry, that is my honest opinion. Money flowing in the bank much faster than it flows out is all we need, and that day is not far off.
All this just my opinions.
gerald |
