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  • Canadian Oil Sands: Sorry, But We Told You To Stay Away [View article]
    Michael, your comments are fair and civil so I'm happy to respond and harbor no ill will towards COSWF owners. My points are:

    You said "I think you are wrong that Canadian Oil Sands does not represent good value at these prices."

    What prices are you speaking of? the shares are below $13 today - did you not write a bullish report in May when the shares were at $21?

    That's a 41% drop in share price. Ouch.

    At some point the shares will be a good value, but that has not been on any given day this year.

    You wrote "Short term commodity price changes are of no real relevance to long term value" etc all of which I agree with but I'll point out that those with heavy debt loads will go BK first, and what is the necessary flushing process can take years - they will have to increase production to try and maintain cash flow, at first - my point is you would have been better off waiting on the sidelines than taking a huge hit....and make no mistake, there's several years ahead before the supply imbalance could possibly be righted by less production.

    I won't be returning here, so you may wish to point out to some of your fellow bulls that what COSWF promotes as "costs" of $47 doesn't jibe with the reality of net earnings (the only number that matters) which were only $87 mm with an avg realized WTI price of $97 - and that is a real cost of $86. How is this going to look at today's $68 WTI? How could they possibly earn enough to pay a dividend here? Seems smarter to wait and see IMO.

    I've heard this management promising that things were going to improve for a decade now. They always seem to have some excuse. It's like the old football trick with Charlie Brown, suckers still falling for it; stock now below '08 crash levels. I have not said the legacy producers like them are going BK, but if you need to play them, I'd think Suncor or Encana are better.
    Nov 28, 2014. 12:11 PM | 9 Likes Like |Link to Comment
  • 5 Junior Gold Companies IAMGOLD Should Target For An Acquisition [View article]
    Why would you be 'thrilled' to see any of those N Am. ones sold right at the bottom of the market? IAG has been a disaster of mis-management (like paying $600 mm for Trelawny) -- your upside leverage to a gold rally is vastly superior in those small ones, not with Africa or IAG
    Nov 27, 2014. 11:49 AM | 1 Like Like |Link to Comment
  • What It Really Costs To Mine Gold: The Allied Nevada Gold Q3 Edition [View article]
    Thanks for taking the time to do this Hebba, it's really helpful. I think it would be a positive if they did a financing or streaming deal - that's often the trigger when investors get interested. ANV is going to be interesting in '15 as with any strong gold rally this could easily go to $10.
    Nov 27, 2014. 11:35 AM | Likes Like |Link to Comment
  • Update: Wellgreen Platinum Issues Equity [View article]
    CI - I thought you were sharper. I guess it's a good thing the pro's aren't asking your opinion, then, because they actually went up there, with actual mining professionals. Guess what? They liked what they saw enough to write big checks. And this is one tough market. I hope readers remember your "perfect short" comment, which "leads to credibility" as they say in court.

    - even iterent makes some valid points for once: management can certainly be taken to task with the size and timing and the 3 month delay in the PEA; every developing miner is in the same boat - if the metals market continues to stink, then the dilution % will increase - - but even so boys, it doesn't appear the smart money has paid much attention to your opinions, does it?
    Nov 25, 2014. 02:22 PM | 1 Like Like |Link to Comment
  • Western Pacific Resources - Red Flags Galore [View article]
    Hi Tom, long time. Send me a mail privately or call and catch-up - you know who if you look at the pic - I'm sure you'll recognize P's jet.
    Nov 24, 2014. 02:16 PM | Likes Like |Link to Comment
  • Western Pacific Resources - Red Flags Galore [View article]


    "Fincom Investment Partners participated in June 2013 Western Pacific financing."
    Nov 24, 2014. 02:13 PM | Likes Like |Link to Comment
  • Western Pacific Resources - Red Flags Galore [View article]
    Try actually reading the initial report disclosure.
    Nov 24, 2014. 01:49 PM | Likes Like |Link to Comment
  • Update: Wellgreen Platinum Closes $9.1 Mm Financing [View article]

    We heard that also - they had a whole bunch of strategic and "A" investors suddenly want in. We hope readers will see now the downside of a "free" press with the utterly nonsensical charges some amateurs - who have been out right irresponsible about Wellgreen (look at the article titles for yourself) -

    The proof is in the pudding, or as our girlfriend says "cash is king" - and what we have been saying all along is just beginning to happen: professional investors who do something (other than surf the web in their living room) ie. get off their duffs to sit down with the Company, meet the team, visit the super-located property, look at the core etc. etc. just wrote checks for $9 mm (and we all will agree the mining market still stinks).....guess they did not get the other message - that Wellgreen is on it's "Last Gasp" or I guess they liked the shade of lipstick, eh? LOL.....

    Even better are the LT fundamentals for platinum/palladium (we should have included that JP Morgan's LT platinum price target is $2000, which would possibly put Wellgreen at an 80% IRR) and this is the decent undeveloped one left. In fairness, this is not a guarantee of anything, but does prove that savvy investors like what they see; that's our whole point.
    Nov 22, 2014. 02:38 PM | 1 Like Like |Link to Comment
  • Western Pacific Resources - Red Flags Galore [View article]
    It's somewhat disappointing the editors would allow out a "report" that is clearly attempting to scare investors by implying that Quintana is up to some sleazy trick, while conveniently ignoring that the Quintana founder, and it's heart and soul, Corby Robinson, has a 30+ year reputation for fair business dealings. As the US's largest private coal reserve owner, Mr. Robinson is used to working with operators and would have been out of business long ago had they pulled what this author implies. In fact, Mr. Robinson does not operate mines, which is why we are so attracted to the team at Western Pacific, and if you read our reports, we are thinking Quintana will need to advance Western Pacific as an operating arm. We'll see, but is outright reckless to imply that Quintina would be interested in crashing the value of Western Pacific, when the opposite makes intuitive sense, since a premium value of tightly held Western Pacific would make rapid expansion via shares easier. Nor is it responsible to imply a sub-standard reputation when, in actual fact, Quintana has a fantastic reputation as classy, honorable and very hard working people.

    Corby Robinson is also the founder of a $1.5 B MLP (NRP) who has a publicly stated mandate to diversify away from coal. That's why they are here in metals. Nothing sinister, all has been disclosed. NRP has bought a number of projects which they seek to develop then "drop" into the MLP. We note, in our report, that in order to move the needle at a $1.5 B MLP, they need deal size of at least $75 mm (more like $150 mm) - we can't imagine even this author would disagree - which even with his fuzzy math implies a much higher value for WP.

    In addition, Quintana spent 100's of hours on-site with technical due-diligence, hiring very expensive independent 3rd party experts to review everything in great detail before they wrote a check. There's no mention that the author has visited the site nor ever even bothered to speak to management and see what they are doing. Had the author done so, he would have discovered that the reported drill results were the very first ones and the much more exiting spots are where they are moving the drill towards, in a systematic fashion.

    As we disclosed, we agree that there is no absolute certainly that they will find what is surely a very big mine (given the geology of "manto" systems there is a very, very big mine nearby) but since Western Pacific is funded by Quintana into production (and how many $7 mm junior miners are?) and when starting at a said $7 mm valuation, that the ultimate success of finding such would mean a valuation perhaps 100X or more (the world's largest mine is 90 miles away, they are monsters when you find them) there is no better opportunity out there to make that kind of money (without counting on dumb luck) especially in a better metals market - but even if not, this grade works at $15 silver and they are just beginning to drill. As we noted (from speaking directly with prior operating personal, which this author did not) the grade and size at Deer Trail got better as it went deeper.

    Plus, WP has the best management team you will see at this size - Chairmen Art Brown was CEO of Helca mining for many years, knows underground, in fact, he notes Hecla mined the Lucky Friday mine since the 1930's with never more than 3 years resource (both Mr. Brown and Callahan have invested their own money into Western Pacific) -- so therefore we are putting our chips on quality people, who have their own money in, at the same price, which was not mentioned in what is clearly an agenda-drive piece.
    Nov 17, 2014. 01:50 PM | 1 Like Like |Link to Comment
  • Update: Integra Gold Achieves Major Permitting Milestone [View article]
    Nice to see this author finally doing some good work. We had lunch this weekend with Integra management and have a much better idea of what is really happening, but Seeking Alpha readers will have to wait for our report for timely, actionable insight.
    Nov 17, 2014. 11:59 AM | Likes Like |Link to Comment
  • Western Pacific Hits High Grade Silver At Deer Trail [View article]
    Even better, look at Bill Gates - made a fortune stealing other people's ideas. But really, don't you have better things to do with your time than troll?
    Nov 5, 2014. 08:46 PM | Likes Like |Link to Comment
  • Western Pacific Hits High Grade Silver At Deer Trail [View article]
    Nice try. Gold was mined for thousands of years before the 43-101 came along my friend, which is why wise investors do their actual homework. WP mill is already built and the project fully-funded, so they don't need you and the sour grapes, thank goodness.

    Real DD includes actually getting off your duff and visiting the property, looking at the rock and geology. We did. Arm chair geologists do need a Resource as you've no ability to make your own decisions via direct investigation.

    If you really know anybody in NV mining go ask about geo Eric Saderholm

    Western Pacific has both world class management and backer for such a still-tiny M/C- which is why we are invested - and also why this stock has held up better than almost any other junior miner (let's agree that somebody who has made $1 Billion in mining is smart, ok?) - so if you did some homework, talked to real experts who were there - like P.M. the world's foremost expert on Manto systems, you'd would do better, certainly than the dribble written. SA readers deserve better.
    Nov 5, 2014. 12:01 PM | 1 Like Like |Link to Comment
  • Another Buying Opportunity Arises After Unrelated Sell-Off: Red Eagle Mining [View article]
    If investors do some real due diligence they will find the actual problem here: Red Eagle has been out shopping a financing for the last 6 weeks and no bites. That's not a good sign, given the headline PEA, so it seems wise sense to forget ones like this. Don't buy the dip. Investors don't want the extra risk from Columbia now and neither should you.
    Nov 4, 2014. 11:41 AM | Likes Like |Link to Comment
  • African Gold Group: Recent Dumping Of Junior Mining Shares By Pinetree Capital Provides A Unique Opportunity [View article]
    "tremendous upside potential".....not a chance. The political risks are too great and with this Ebola thing investors have a great opportunity to wake up one morning with their shares worthless - you'd have to have a discounted IRR of 100% for anyone serious to take this kind of risk.

    How is $650 K even remotely considered true: "The company management has considerable skin in the game (holding about 10%). How much stock has management been buying recently?

    It's also been common knowledge for a long time that Pinetree has been blowing up, so to have been pumping this without checking the details has cost anybody who listened a ton of cash. I'll make it easier for investors and simply say if you stay away from West Africa you will be happier.
    Nov 1, 2014. 02:32 PM | Likes Like |Link to Comment
  • Continental Gold: Its Upcoming PEA Could Be Impressive But Permitting Will Be The Real Catalyst [View article]
    I think your understanding may improve if you taken into consideration the most important part of investing: management. Sussman and Wall were responsible for the disaster called Clossus Minerals, another supposed high grade South American "can't miss" deal heavily promoted to retail investors, with poor community relations. Also a much bigger flaw than you are noting is skipping from PEA to construction, without a PFS or FS -

    it's hard for me to believe "a critical investor" who will nick-pick about anything over trivialities, yet brush off such vital factors in investing, things that actually matter.

    As a professional mining analyst wrote recently "avoid Continental like the veritable plague".
    Nov 1, 2014. 02:22 PM | Likes Like |Link to Comment
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