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Ben Kramer-Miller

 
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  • Update: IAMGOLD Commences Commercial Production At Westwood [View article]
    Political risk isn't set in stone and it is highly subjective. I actually read an article that argue that BF is the best mining jurisdiction in the world so there are clearly differing opinions on the matter.
    Now that IAG has the cash-flow from Westwood the debt is a lower risk to the company and I think the company can even go out an borrow more to expand Niobec, especially if it sells 30% to a partner. It'll be interesting to see how it develops. IAG has a lot of growth potential but it is also high risk and its not for everybody. I've held off so far but maybe if I can get in at $2.75 or so I'll pick up some shares.
    Regarding Russia I think the market is discounting these businesses so heavily that the risk is pretty much priced in. I can see why you'd want to stay away but if you get into names like KGC or even the RSX you can do incredibly well.
    Aug 1 06:20 PM | Likes Like |Link to Comment
  • Northern Graphite Soars On No News: It's Time To Take Profits [View article]
    So basically in my scenario I am assuming that the company issues $40 million in stock in order to fund the project. $40M + $72M = $112M. The $40M isn't free given that the company has to dilute shareholders in order to get it.
    Aug 1 03:51 PM | Likes Like |Link to Comment
  • Update: Taseko Mines' Earnings Show Continued Production Growth [View article]
    James,
    Not to my knowledge. Even if this is the case New Prosperity has a long road ahead of it, but the upside is uncanny--perhaps a 10-20 bagger depending on gold and copper prices.
    Aug 1 11:50 AM | Likes Like |Link to Comment
  • Northern Graphite Soars On No News: It's Time To Take Profits [View article]
    Just to be clear I am bullish of graphite and I have investments in graphite. But I do think that some of these larger projects can knock prices down i the near term once they come online. If Northern Graphite is going to produce 40+K tonnes in a 375k tonne/year market then we will see a near-term glut. But there are really only a handful of new projects coming online and I think in the end that demand will outpace supply. But again the near-term could be rough for the bigger projects.
    An interesting alternative is Flinders Resources. They are set to announce production any day now and they are going to be supplying the European market. The other companies in the industry are all in Canada, Australia, or Sri Lanka and so that gives Flinders a huge advantage.
    Aug 1 11:41 AM | Likes Like |Link to Comment
  • Ben's 2014 Guide To Precious Metals Investing Part 2: Picking Mining Companies - My 4-Pronged Strategy [View article]
    I don't like TRX. The Buckreef project isn't attractive, the Kigosi Project is supposed to be in production by now, Tanzania is a lousy place to mine, the company has very little capital with a high valuation, and the company's investor relations is just awful.
    I last wrote about SilverCrest at $1.70/share so I'm holding off for now--its a good company but pricey.
    I own SantaCruz. I think it can be the next Mandalay with several projects i the pipeline and an emphasis on keeping costs/dilution to a minimum.
    Sandstorm is alright, but at current prices its time for a pullback. But you can say that about all the royalty companies. If you had to buy one right now Osisko Royalties is the most attractive valuation-wise.
    Jul 31 11:42 PM | Likes Like |Link to Comment
  • Ben's 2014 Guide To Precious Metals Investing Part 2: Picking Mining Companies - My 4-Pronged Strategy [View article]
    I liked it last year at $5, sold out at $8.50. I think its pricey and I want my project development plays to be fully financed.
    Jul 31 05:30 PM | Likes Like |Link to Comment
  • Ben's 2014 Guide To Precious Metals Investing Part 2: Picking Mining Companies - My 4-Pronged Strategy [View article]
    SGDM
    Jul 31 05:29 PM | Likes Like |Link to Comment
  • Update: Alamos Gold's Earnings [View article]
    "All in" costs, they're in the press release. Cash costs are pretty meaningless.
    Jul 31 05:28 PM | Likes Like |Link to Comment
  • Ben's 2014 Guide To Precious Metals Investing Part 2: Picking Mining Companies - My 4-Pronged Strategy [View article]
    Take a look at the new Sprott ETF. It's pretty tactical in nature and favors cash-flow and growth vs. market cap.
    Jul 31 04:17 PM | Likes Like |Link to Comment
  • Update: IAMGOLD Commences Commercial Production At Westwood [View article]
    KGC is a lower cost producer and I'm not so concerned with investing in Russia, and they have a very favorable tax code. IAG is more of a gamble but It probably has more upside.
    I may do a piece on EGO but it isn't one that I really follow.
    Jul 31 04:12 PM | Likes Like |Link to Comment
  • Update: New Gold's Earnings [View article]
    Hi Humber,
    I think there are better leverage plays out there. You may want to take a look at Allied Nevada (NYSEMKT:ANV).
    Jul 31 09:48 AM | Likes Like |Link to Comment
  • Update: Goldcorp Reports Strong Q2 Earnings [View article]
    GG wants something with little to no capex so I would say no. Then again the company did just borrow $1 billion, so it's difficult to say.
    Jul 31 09:41 AM | 1 Like Like |Link to Comment
  • Ben's 2014 Guide To Precious Metals Investing Part 2: Picking Mining Companies - My 4-Pronged Strategy [View article]
    Thanks, and good luck with the high beta names!
    Jul 30 08:56 PM | Likes Like |Link to Comment
  • Update: Lindsay Corporation Increases Its Dividend [View article]
    I agree with you on the barrier business. It doesn't really fit and its a distraction.
    Jul 29 04:02 PM | Likes Like |Link to Comment
  • Silver Bull Resources Is For Silver Bulls Only [View article]
    So I agree with this. My point was more that the project isn't really worth financing with metal prices where they are today given the low IRR. This makes it very unattractive to a potential acquirer, and this is why SVBL trades at something like $0.30 per ounce of silver in the ground.

    This changes dramatically if the silver price rises, and for this reason I think SVBL will be much more valuable to an acquirer should we see higher sillver prices.
    So if you are buying the company now because you think they are going to drill and find efficiencies and add value to make the project more appealing to an acquirer keep in mind that this will cost a lot of time and money, and shares will be issued. Unless another silver company wants to buy SVBL for the optionality it is going to be a dead asset more or less until silver prices rise or unless there is a major discovery.
    On the other hand if you are looking for silver price optionality then load up. This is a great way to get it. But again I am concerned that some of the upside will be limited as a rising silver price will bring in a buyer at an early price. So I don't think you'll be able to get optionality to $50-$100+ silver, although you'll probably get it to $30.
    Jul 28 11:47 AM | Likes Like |Link to Comment
COMMENTS STATS
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