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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: E_K_S who wrote (48484)	6/28/2012 1:19:21 PM
From: Paul Senior	Read Replies (5) \| Respond to of 78741

Gold mining stocks: Nobody seems to want them today. I added more to ABX, NG, and RIC. (EKS, fwiw, I've been adding to RIC about every dime drop in the price - which seems to me to be every day now, -g-). (Difco, about Klarman fyi and fwiw, as stated in an earlier post here, he has been a purchaser of NG. Apparently his reported price was $7.18. The stock's now at $5.02)

To: E_K_S who wrote (48484)	9/24/2012 12:21:10 PM
From: E_K_S	Read Replies (1) \| Respond to of 78741

Richmont Mines Inc. (RIC) - Sold high priced shares booked small gain Aurcana Corporation (Other OTC: AUNFF) - Stock up 52% from last large buy 8/22/2012 Copper Mountain Mining Corporation (Other OTC: CPPMF) - Stock up 36% from last small buy 8/22/2012 Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) - looking to start a position below $35.00/share Sold my high cost shares of the Jr. gold miner RIC and booked a small gain. I continue to hold my other shares bought near the recent lows. RIC recently announced news that recent ore samples may not contain as much gold as first thought but the company is still profitable. They paid down a $10 million debenture to strengthen their balance sheet. On their Island Gold mine they did report favorable results, so it seems hit or miss as they continue to develop their mines. Richmont Mines Inc.: New Deep Drill Results Reaffirm Promising Potential at Depth at Island Gold Mine It's hard to figure the "exact" value proposition as it eventually comes down to the gold retrieved from their developed mines. They continue to run a profitable operation and have very little long term debt. Management seems to be doing a good job. I will hold on to my small amount of shares and add to that on prices below $5.00/share. My upside target is around $9.00/share-$12.00/share but depends on the long term price of gold and what additional discoveries they find as they develop their mines (ie new pockets of gold similar to their island mine results). Both AUNFF and CPPMF are up substantialy from my last buys on 8/22/2012. This could be due to the QE3 announcement but each of these companies do have company specific news and/or positive operations. These two miners are close to bringing their new mines into production. It's a challenge to keep to their schedule and stay on budget. AUNFF has updated their mineral ore results and has stated that current "production" results show more silver than first estimated. CPPMF is ahead of schedule in bringing their copper mine online and fortunately have not been set back w/ any substantial delays. There were some early issues with water rights and processing but have been resolved w/ the local community and Federal/State agencies. These jr. miners are similar to the small E&P companies and one should try to buy a basket of these companies and/or diversify holdings into some of the major miners too. In my case I already hold several of the majors (BHP, VALE, AU, AAUKY). Am looking to add Freeport-McMoRan Copper & Gold Inc. (NYSE: FCX) on any price below $35.00/share which will provide a bit more copper exposre to the portfolio. EKS