Comments on Alexander Wissel's articles RSS Syndication from SeekingAlpha.com http://seekingalpha.com/author/alexander-wissel/articles http://seekingalpha.com/article/168542-institutions-doubling-down-on-mgm?source=feed#comment-737405 737405 Capital Pains, what a looser you are. I have read some of your comments > and i get the feeling you have led a bitter life. Change your attitude > in life and your miserable life may turn around. Who are you to make > comments on Kirkorian or adelson ? you dont measure up to their dump. > Are you a right wing christian nut ? thats what i think you are. > Nothing you say will make me feel bad looser. You wish you have my > $ 4 million dollar home and my collection of Ferraris. People like > you will always be loosers. I want you to go stand in front of a > mirror and just scream at your sorry ass self that " I Capital pains > am a failure in life and a big looser".LOOSER!!!! LOL!!!]]> Fri, 30 Oct 2009 15:06:25 -0400 First of all - there is no mention of Adelson in the post. Second: It is out of resepct for KK that I say, why buy when KK is unloading.? Although, losing $7 billion on Ford and $15 billion on MGM hardly qualifies KK for MENSA membership...
third: Only a moron would spell loser the way stupid johnson spells it ..Twice no less !
4th - Christian should be capitalized you cretin
5th - Ah yes,we really believe you are wealthy ..That's why you spend time posting on the internet..You should spend some time learning to spell and write ..I would imagine your 6th grade education might be somewhat limiting for you .
Pointless replying to a moron however -




On Oct 24 02:08 PM Gregjohnson999 wrote:

> Capital Pains, what a looser you are. I have read some of your comments
> and i get the feeling you have led a bitter life. Change your attitude
> in life and your miserable life may turn around. Who are you to make
> comments on Kirkorian or adelson ? you dont measure up to their dump.
> Are you a right wing christian nut ? thats what i think you are.
> Nothing you say will make me feel bad looser. You wish you have my
> $ 4 million dollar home and my collection of Ferraris. People like
> you will always be loosers. I want you to go stand in front of a
> mirror and just scream at your sorry ass self that " I Capital pains
> am a failure in life and a big looser".LOOSER!!!! LOL!!!]]> http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-736491 736491 Thu, 29 Oct 2009 22:59:21 -0400
It's also been validated by Tocqueville's multi-million dollar invest in GORO as well as Hochschild Mining ltd. Both companies had their own team of geologists look at the numbers and property and subsequently bought big. I think Tocqueville owns 13% of GORO and Hochschild owns 24%. Not bad validation for a company that you implied as having SEC problems lol. Numerous other funds hold large stakes in the company as well but I have no proof that they had their geologists on site and checked the numbers.

If a start up mining company wants to go the 43-101 route then it's going to cost you about 8 years and 100 million shares and plenty of warrents to our banking friends :). Most start ups are forced to go this route because it's impossible to raise the money. The Reids however are very well known in mining circles as they operated US GOLD for some 30 years and are known in the mining circles. They were able to raise the money privately. So they will drill up the resource as they go and they are quite confident in the deposit. I believe the immense scope of the project is allready known but legally we cannot speculate until it's all proven. I believe it's going to be the most impressive junior miner seen in the last 10-15 years. Their last drill return was 904 grams gold over 2.5 meters. More of that and GORO will not be GORO much longer..a likely buyout.

So in conclusion I'll take Tocqueville, Hochschild, and the Reids 30 plus years on the mining scene over some blogger...your opinion may vary]]> http://seekingalpha.com/article/168542-institutions-doubling-down-on-mgm?source=feed#comment-732897 732897 Since risk has gone completely out of the market why not pour more > money into a loser ? If Mr. Kirk has decided fo finally lighten up > on his gigantic holdings, why would anyone do the opposite ? Mr. > K was decimated with his huge position in MGM - Now it's more botttom > fishing time, that's all it is. In case the author hasn't noticed, > there is a huge bubble in the Macau market. 25% of the 'whales' constitute > 70% of casinos revenues. All casinos vying for the same small pool > of fish, does not sound like a recipe for growth. Plus, being tied > in with Pansy Ho or any Ho family member is delusional and akin to > abetting criminals. > The little guy has long since departed the manipulated, corrupt market. > Hence, who cares what the institutions do or don't do ? The last > man standing will always be Goldman Sachs, the evil empire incarnate. > That's all that matters to our inept government. > If the atrociously managed MGM continues to lose money at a whirlwind > pace, and they will, the institutions should be pouring more paper > dollars in all the way down. So what ?]]> Tue, 27 Oct 2009 16:54:41 -0400

On Oct 24 12:28 PM capital pains wrote:

> Since risk has gone completely out of the market why not pour more
> money into a loser ? If Mr. Kirk has decided fo finally lighten up
> on his gigantic holdings, why would anyone do the opposite ? Mr.
> K was decimated with his huge position in MGM - Now it's more botttom
> fishing time, that's all it is. In case the author hasn't noticed,
> there is a huge bubble in the Macau market. 25% of the 'whales' constitute
> 70% of casinos revenues. All casinos vying for the same small pool
> of fish, does not sound like a recipe for growth. Plus, being tied
> in with Pansy Ho or any Ho family member is delusional and akin to
> abetting criminals.
> The little guy has long since departed the manipulated, corrupt market.
> Hence, who cares what the institutions do or don't do ? The last
> man standing will always be Goldman Sachs, the evil empire incarnate.
> That's all that matters to our inept government.
> If the atrociously managed MGM continues to lose money at a whirlwind
> pace, and they will, the institutions should be pouring more paper
> dollars in all the way down. So what ?]]> http://seekingalpha.com/article/168542-institutions-doubling-down-on-mgm?source=feed#comment-729735 729735 Sun, 25 Oct 2009 17:47:07 -0400
1. MGM is the least exposed to Macau of the three US operators so if you want to play the Macau story play it on the other two.
2. There are only 6 gaming concessions in Macau and it has been like that for many years. 6 I think. This has not changed lately.

Jan]]> http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-729720 729720 Sun, 25 Oct 2009 17:26:37 -0400 http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-729487 729487 Sun, 25 Oct 2009 14:01:34 -0400
Here's the latest metal prices:

Gold = $1,048
Silver = $17.67
Copper = $2.82
Lead = $1.01
Zinc = $0.92 (up sharply just recently)

3 meter mining width metal content for La Arista and Baja veins:

Gold = 6.45g/tonne
Silver = 578g/tonne
Copper = 0.54% = 11.90 lbs/tonne
Lead = 1.79% = 39.45 lbs/tonne
Zinc = 6.67% = 147.01 lbs/tonne

Amount of recoverable metal:

Gold = 6.45g X 0.94 = 6.06g/tonne
Silver = 578g X 0.90 = 520g/tonne
Copper = 11.90 lbs X 0.90 = 10.71 lbs.
Lead = 39.45 lbs X 0.90 = 35.50 lbs.
Zinc = 147.01 lbs. X 0.90 = 132.31 lbs.

Dollar value per tonne of recoverable metal at today's spot price:

Gold = 6.06 / 31.1 X $1,048 = $204.20
Silver = 520 / 31.1 X $17.67 = $295.45
Copper = 10.71 X $2.82 = $30.20
lead = 35.50 X $1.01 = $35.86
Zinc = 132.31 X $0.92 = $121.73

Total value of recoverable metal = $687.44 / tonne

Percent of total represented by precious metals = 72.7%

Notice that we have $121.73 of recoverable value in zinc per tonne. Since this metal is in the form of a concentrate, the refiner is likely to pay GRC about 90% of spot price, so let's reduce this further by 10%. So, on average, we wind up with $121.73 X 0.90 = $109.56 worth of zinc for every tonne of La Arista ore that's processed.

Jason, in the latest company presentation, states that it will cost GRC $98 to mine and mill a tonne of underground ore (this seems high to me, but I'll use it). Notice that $98 is well less than the $109.56 that GRC is going to receive for the zinc alone! This means that GRC will produce not only the gold and silver at zero cost, but the copper and lead too! I calculate this will add about $26.7 million a year in profit on just the base metals alone.

The total value of the recoverable precious metal content would be $204.20 + $295.45 = $499.65 per tonne of La Arista ore.

Total annual value of precious metal content = $499.65 X 1,150t/d X 328 = $188,467,980 (this is pure profit because the zinc has paid the cost of processing)

Adding in the profit on the base metals, the total would be $188,467,980 + $26,700,000 = $215,167,980

Assuming 50 million shares (fully diluted) that's about $4.30 per share in free cash flow.

Earnings would be about 2/3 of $4.30 = $2.87 per share.

Dividend would be 1/3 of $4.30 = $1.43 per share

Assuming a PE ratio of 20 (I actually think 20 is conservative) the share price would be $2.87 X 20 = $57 a share]]> http://seekingalpha.com/article/168542-institutions-doubling-down-on-mgm?source=feed#comment-728522 728522 Since risk has gone completely out of the market why not pour more > money into a loser ? If Mr. Kirk has decided fo finally lighten up > on his gigantic holdings, why would anyone do the opposite ? Mr. > K was decimated with his huge position in MGM - Now it's more botttom > fishing time, that's all it is. In case the author hasn't noticed, > there is a huge bubble in the Macau market. 25% of the 'whales' constitute > 70% of casinos revenues. All casinos vying for the same small pool > of fish, does not sound like a recipe for growth. Plus, being tied > in with Pansy Ho or any Ho family member is delusional and akin to > abetting criminals. > The little guy has long since departed the manipulated, corrupt market. > Hence, who cares what the institutions do or don't do ? The last > man standing will always be Goldman Sachs, the evil empire incarnate. > That's all that matters to our inept government. > If the atrociously managed MGM continues to lose money at a whirlwind > pace, and they will, the institutions should be pouring more paper > dollars in all the way down. So what ?]]> Sat, 24 Oct 2009 14:08:00 -0400

On Oct 24 12:28 PM capital pains wrote:

> Since risk has gone completely out of the market why not pour more
> money into a loser ? If Mr. Kirk has decided fo finally lighten up
> on his gigantic holdings, why would anyone do the opposite ? Mr.
> K was decimated with his huge position in MGM - Now it's more botttom
> fishing time, that's all it is. In case the author hasn't noticed,
> there is a huge bubble in the Macau market. 25% of the 'whales' constitute
> 70% of casinos revenues. All casinos vying for the same small pool
> of fish, does not sound like a recipe for growth. Plus, being tied
> in with Pansy Ho or any Ho family member is delusional and akin to
> abetting criminals.
> The little guy has long since departed the manipulated, corrupt market.
> Hence, who cares what the institutions do or don't do ? The last
> man standing will always be Goldman Sachs, the evil empire incarnate.
> That's all that matters to our inept government.
> If the atrociously managed MGM continues to lose money at a whirlwind
> pace, and they will, the institutions should be pouring more paper
> dollars in all the way down. So what ?]]> http://seekingalpha.com/article/168542-institutions-doubling-down-on-mgm?source=feed#comment-728391 728391 Sat, 24 Oct 2009 12:28:27 -0400 The little guy has long since departed the manipulated, corrupt market. Hence, who cares what the institutions do or don't do ? The last man standing will always be Goldman Sachs, the evil empire incarnate. That's all that matters to our inept government.
If the atrociously managed MGM continues to lose money at a whirlwind pace, and they will, the institutions should be pouring more paper dollars in all the way down. So what ?]]> http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-728118 728118 Sat, 24 Oct 2009 05:21:55 -0400 http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-727964 727964 30%) than Yamana has provided culmulatively over three years! Buyers beware (of AUY) - stick with the cat (JAG) :-) ]]> Fri, 23 Oct 2009 20:32:37 -0400
Jaguar is a different cat indeed - a great growth stock with costs under control and WAY TO RUN. Fortunately I loaded up on them only a month ago and the reward is already bigger (at >30%) than Yamana has provided culmulatively over three years! Buyers beware (of AUY) - stick with the cat (JAG) :-) ]]> http://seekingalpha.com/article/168542-institutions-doubling-down-on-mgm?source=feed#comment-727762 727762 Fri, 23 Oct 2009 18:13:12 -0400 Greg]]> http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-727481 727481 Fri, 23 Oct 2009 14:55:21 -0400 http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-727286 727286 I much prefer Jaguar, which is growing from 160,000 to 650,000 oz > in the same time frame as EGO goes from 400,000 to 800,000. Jaguar > also operates exclusively in very safe Brazil, while EGO is operating > in Turkey and China. Compare valuations! There is slightly higher > cost than EGO, but fewer shares and much lower priced. Jaguar is > also an easy takeover mark for Yamana, who would like to dominate > South America. Jaguar's growth profile would be VERY accretive to > any major. > > I disagree with the author's statement that EGO has $700 margin of > "pure profit." This is not true. This guy doesn't understand mining > I can tell. There are many costs above direct "cash costs": depreciation, > depletion,amortization, capex, administrative, etc. You can add > on several items before you get an actual net income. Mining is > not easy and very capex intensive! > > Why do these author's bother to write puff pieces with no positions?!?! > C'mon GIVE ME A BREAK. Put your money where your mouth is dude. > Anyone can write a bullish article. I could write one on a company > I don't even like if I wanted to!]]> Fri, 23 Oct 2009 13:04:32 -0400
Jaguars cost of producing gold is $451 per ounce. That is not comparable to El Dorado's cost.

Empirical data does not lie.


On Oct 22 08:06 PM Slvrizgold wrote:

> I much prefer Jaguar, which is growing from 160,000 to 650,000 oz
> in the same time frame as EGO goes from 400,000 to 800,000. Jaguar
> also operates exclusively in very safe Brazil, while EGO is operating
> in Turkey and China. Compare valuations! There is slightly higher
> cost than EGO, but fewer shares and much lower priced. Jaguar is
> also an easy takeover mark for Yamana, who would like to dominate
> South America. Jaguar's growth profile would be VERY accretive to
> any major.
>
> I disagree with the author's statement that EGO has $700 margin of
> "pure profit." This is not true. This guy doesn't understand mining
> I can tell. There are many costs above direct "cash costs": depreciation,
> depletion,amortization, capex, administrative, etc. You can add
> on several items before you get an actual net income. Mining is
> not easy and very capex intensive!
>
> Why do these author's bother to write puff pieces with no positions?!?!
> C'mon GIVE ME A BREAK. Put your money where your mouth is dude.
> Anyone can write a bullish article. I could write one on a company
> I don't even like if I wanted to!]]> http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-726972 726972 Fri, 23 Oct 2009 10:39:26 -0400 This article was well rounded and to the point. He compared the stats and the objectives with other majors in the field.
I dont care if he is a current owner of the stock, he is an investigator and reporter.
Thank you Mr. Wissel. ]]> http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-726458 726458 Thu, 22 Oct 2009 23:59:10 -0400 http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-726396 726396 Thu, 22 Oct 2009 22:08:45 -0400 http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-726313 726313 I much prefer Jaguar, which is growing from 160,000 to 650,000 oz > in the same time frame as EGO goes from 400,000 to 800,000. Jaguar > also operates exclusively in very safe Brazil, while EGO is operating > in Turkey and China. Compare valuations! There is slightly higher > cost than EGO, but fewer shares and much lower priced. Jaguar is > also an easy takeover mark for Yamana, who would like to dominate > South America. Jaguar's growth profile would be VERY accretive to > any major. > > I disagree with the author's statement that EGO has $700 margin of > "pure profit." This is not true. This guy doesn't understand mining > I can tell. There are many costs above direct "cash costs": depreciation, > depletion,amortization, capex, administrative, etc. You can add > on several items before you get an actual net income. Mining is > not easy and very capex intensive! > > Why do these author's bother to write puff pieces with no positions?!?! > C'mon GIVE ME A BREAK. Put your money where your mouth is dude. > Anyone can write a bullish article. I could write one on a company > I don't even like if I wanted to!]]> Thu, 22 Oct 2009 21:40:07 -0400

On Oct 22 08:06 PM Slvrizgold wrote:

> I much prefer Jaguar, which is growing from 160,000 to 650,000 oz
> in the same time frame as EGO goes from 400,000 to 800,000. Jaguar
> also operates exclusively in very safe Brazil, while EGO is operating
> in Turkey and China. Compare valuations! There is slightly higher
> cost than EGO, but fewer shares and much lower priced. Jaguar is
> also an easy takeover mark for Yamana, who would like to dominate
> South America. Jaguar's growth profile would be VERY accretive to
> any major.
>
> I disagree with the author's statement that EGO has $700 margin of
> "pure profit." This is not true. This guy doesn't understand mining
> I can tell. There are many costs above direct "cash costs": depreciation,
> depletion,amortization, capex, administrative, etc. You can add
> on several items before you get an actual net income. Mining is
> not easy and very capex intensive!
>
> Why do these author's bother to write puff pieces with no positions?!?!
> C'mon GIVE ME A BREAK. Put your money where your mouth is dude.
> Anyone can write a bullish article. I could write one on a company
> I don't even like if I wanted to!]]> http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-726140 726140 Thu, 22 Oct 2009 20:06:00 -0400
I disagree with the author's statement that EGO has $700 margin of "pure profit." This is not true. This guy doesn't understand mining I can tell. There are many costs above direct "cash costs": depreciation, depletion,amortization, capex, administrative, etc. You can add on several items before you get an actual net income. Mining is not easy and very capex intensive!

Why do these author's bother to write puff pieces with no positions?!?! C'mon GIVE ME A BREAK. Put your money where your mouth is dude. Anyone can write a bullish article. I could write one on a company I don't even like if I wanted to!]]> http://seekingalpha.com/article/168351-eldorado-gold-a-cost-effective-way-to-move-into-gold?source=feed#comment-725950 725950 Thu, 22 Oct 2009 18:21:38 -0400 http://seekingalpha.com/article/167977-ge-still-a-bargain?source=feed#comment-725727 725727 Thu, 22 Oct 2009 15:47:40 -0400 http://seekingalpha.com/article/167977-ge-still-a-bargain?source=feed#comment-725291 725291 Thu, 22 Oct 2009 11:29:55 -0400 http://seekingalpha.com/article/167977-ge-still-a-bargain?source=feed#comment-725272 725272 Thu, 22 Oct 2009 11:18:07 -0400 http://seekingalpha.com/article/167977-ge-still-a-bargain?source=feed#comment-725139 725139 Immelt is a pathological liar that has destroyed one of the finest > companies in the world. I find it particularly telling that Jack > Welch has completely distanced himself from the company, most likely > due to his personal embarrassment over his selection of Immelt. This > stock is going nowhere until the board removes both Immelt and Keith > Sherin (http://seekingalpha.com/symbol/cfo).]]> Thu, 22 Oct 2009 10:22:02 -0400
Predicting what GE might do in the short term, is like trying nail Jello to a tree...


On Oct 22 08:53 AM ex GE'er wrote:

> Immelt is a pathological liar that has destroyed one of the finest
> companies in the world. I find it particularly telling that Jack
> Welch has completely distanced himself from the company, most likely
> due to his personal embarrassment over his selection of Immelt. This
> stock is going nowhere until the board removes both Immelt and Keith
> Sherin (seekingalpha.com/symbo...).]]> http://seekingalpha.com/article/167977-ge-still-a-bargain?source=feed#comment-724966 724966 Thu, 22 Oct 2009 08:59:33 -0400 http://seekingalpha.com/article/167977-ge-still-a-bargain?source=feed#comment-724952 724952 Thu, 22 Oct 2009 08:53:32 -0400 http://seekingalpha.com/article/167977-ge-still-a-bargain?source=feed#comment-724632 724632 Wed, 21 Oct 2009 23:39:44 -0400 Seems most everyone tries to blame the laggard stock price on the GE Finance division woes. If that is truly the reason, then Finance was severely over-leveraged or took on excesive risk---another management issue. Look at the stock charts of several true financials like GS, JPM and WFC over the past year and see they've nearly fully recovered, in spite of taking TARP!!!
Shake up the management at GE already so, the stock can get moving onward and UPWARD!!!!]]> http://seekingalpha.com/article/167977-ge-still-a-bargain?source=feed#comment-724604 724604 Wed, 21 Oct 2009 23:04:12 -0400
If you think that GE decided to cut dividend (they were able to avoid it ) is because is part of an strategy of lowering expectations around them, eliminating pressure from Hedge funds and others, is not clear for me what is coming out, there but agree with you Buffet is into and he knows much more in detail the next 5 years strategy.

I´m long in GE too.
Regards.]]> http://seekingalpha.com/article/167977-ge-still-a-bargain?source=feed#comment-724276 724276 Wed, 21 Oct 2009 17:27:53 -0400 http://seekingalpha.com/article/167977-ge-still-a-bargain?source=feed#comment-724259 724259 Wed, 21 Oct 2009 17:18:59 -0400 They are a good play on a global recovery, but even the most optimistic number of $1.50/ share by 2011-2012 should only fetch a PE of 12-13X. Downside is much greater due to future RE writedowns and other assets being MTM.
Hold ... at best]]> http://seekingalpha.com/article/83322-alliance-resource-partners-buried-by-profits?source=feed#comment-198425 198425 Fri, 04 Jul 2008 07:29:50 -0400
Most of these companies are overvalued and if Congress gets to fixing the problems on the commodity exchanges then oil prices will come down and so will coal prices.]]>