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Russ Winter

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  • Allied Nevada Gold - After Osisko, Allied Nevada Is A Prime Takeover Target [View article]
    The project is scalable, they could go to 60,000 tpd for $900 million. The extra $422 million gets them to 120,000 tpd.

    These capex numbers are several years old. In listening this week to the European Gold Forum companies are mentioning costs coming down. To quote Torex, who is building El Limon in Mexico, "cost wise, it is a good time to build a mine."

    I think ANV has been the victim of a mindless, vicious short attack. 31% of the float has been shorted. A takeover would teach these wild men a real Beavis and Butthead "learning life's lessons".
    May 10, 2014. 12:12 AM | 5 Likes Like |Link to Comment
  • Recent Developments At Allied Nevada Make A Buyout More Likely [View article]
    West Kirkland will need to finance and raise money, but the management involved is hardly a fly by night:

    Directors and Management Track Record
    • Founders/Leader of several successful companies
    Platinum Group Metals, MAG Silver, West Timmins Mining, Imperial Metals

    • Financiers
    Created over $1.2 Billion in shareholder value
    In 2013, Platinum Group Metals closed 2 of the 3 largest mining financings
    on TSX: $180 million Jan 4; $175 million Dec 31

    • Builders
    Currently building WBJV Platinum Mine (S. Africa)
    Building Red Chris Mine (BC)
    Permitted and built Shafter Mine (Texas)
    Snap Lake (NWT)

    • Operators
    Sterling Mine (Nevada)
    Huckleberry (BC)
    Mount Polly (BC)
    Jan 30, 2014. 03:10 AM | 2 Likes Like |Link to Comment
  • Open Letter To Gold Investors: Will The Real Manipulator Please Stand Up? [View article]
    You might if you thought the manipulators were speculative slingers who we going to have their heads handed to them.
    Jan 13, 2014. 12:37 PM | 3 Likes Like |Link to Comment
  • Gold's Flash Crash: Fat Finger Or Panicked Shorts? [View article]
    Agree 100%, these short selling slingers are running out of rope.

    See: Will the Real Manipulator Please Stand Up.
    Jan 8, 2014. 07:37 AM | Likes Like |Link to Comment
  • Trouble With U.S. Foreign Reserve Creditors [View article]
    The June 30, 2013 maturity data is not out yet. They are rather slow with this.
    Jan 7, 2014. 12:30 AM | Likes Like |Link to Comment
  • In Bed With Wall Street: A Book Review [View article]
    Thumbs up for getting the word out on this important book.

    The solution unfortunately won't come until there is a systemic breakdown followed no doubt by "soccer stadium" justice.
    Jan 4, 2014. 10:39 AM | 1 Like Like |Link to Comment
  • Demand For Silver Going Up In China [View instapost]
    Perhaps the cost of fabricating and shipping 100 oz silver bars of silver isn't quite as lucrative as gold bars?
    Jan 4, 2014. 09:19 AM | 1 Like Like |Link to Comment
  • Chesapeake Gold's Metates Project Needs A Much Higher Gold Price [View article]
    The capex won't be that high, as the FS is looking at a staged 60,000 tonnes start with the other 60,000 tonnes financed out of cash flow. There is also likely to be a dedicated NG pipeline to drive down costs. PFS was conducted as peak of mining development cycle when there were surcharges for everything. Costs are coming down.

    Metates will be a very long life mine, the stated 25 years barely scratches the surface. Randy Reifel in the past has sold his projects ( El Sauzal and Marlin ), and doesn't develop them. He considers himself an explorer not a mine operator.

    The enterprise value (market cap-cash) is only $90 million, which already more than discounts 1200 POG and 20 POS from now to kingdom come.
    Jan 4, 2014. 01:36 AM | 3 Likes Like |Link to Comment
  • Asanko Gold Is A High-Risk Deep Value Play With Many Short-Term Risks [View article]
    Pro forma Asanko will have $280 million cash against 172.0 million shares. That's $1.63 cash per share, valuing the combined mining assets at next to nothing.
    Jan 2, 2014. 09:15 AM | Likes Like |Link to Comment
  • Help, Gold Miners Are High-Grading! Really? So What? [View article]
    In fairness to Hebba there is a degree high grading going on and I feel it is the proper approach. So my use of the word "misinformation" is overstated. The real question is are the miners replacing this at these price levels? That's a toughie to answer. However my theory is that they could now easily and cheaply buy new replacement deposits and ounces. The companies that do so should be rewarded not penalized.
    Dec 30, 2013. 05:31 AM | Likes Like |Link to Comment
  • Help, Gold Miners Are High-Grading! Really? So What? [View article]
    I like the term, but there are some who feel it should be avoided.
    Dec 30, 2013. 02:11 AM | 1 Like Like |Link to Comment
  • Help, Gold Miners Are High-Grading! Really? So What? [View article]
    Once again you are doing yeoman work in dispensing with the myths and misinformation. I would also simply add that going after the higher grades are the miners way of keeping margins high, and allowing a good IRR on capex and investment. This is normal business practice in any industry.

    The real issue here is CAN MINERS REPLACE THESE HIGHER GRADES? Some claim not, but I would argue that the opportunity to acquire the super inexpensive and battered names among the better advanced stage junior and single mine space HAS NEVER BEEN BETTER. The "market" has taken care of that. The issue is that there is only a small finite number of these. There is a first strike "snooze you lose" advantage. Secondly drilling costs are way down meaning that budgets to drill off the better deposits in the world have also come down. I submit that there is a sweet spot now, that may not last long.
    Dec 29, 2013. 02:59 AM | 7 Likes Like |Link to Comment
  • Wall Street Real Estate Grand Scheme Continues [View article]
    I would be surprised if these scams even garnered a 5.1% cap rate they claim. Probably more like 4%-4.5% which is totally insufficient for the risk of renting to poor people.

    Then to slice and dice this and call it AAA for a 1.314% is beyond belief: 2006 redux.
    Dec 28, 2013. 06:03 AM | Likes Like |Link to Comment
  • Weekly COMEX Gold Inventories: Gold Available For Delivery Hits New All-Time Low [View article]
    A lot of this is going to JPM's customer accounts. Many of those "customers" are offshore agents and reps for the Chinese global gold hunt.
    Dec 22, 2013. 07:01 AM | 2 Likes Like |Link to Comment
  • Is Asanko Gold Doing The Right Thing By Acquiring PMI Gold? [View article]
    These transactions are steals as well as smart, and they are picking up steam. However this excuse for a "market" inexplicably and in a knee-jerk reaction has sold off the stock of every acquirer: B2Gold-Volta, Primero-Brigus, and now Asanko-PMI. The total cash proforma of new Asanko is $1.63 a share.
    Dec 18, 2013. 05:41 AM | 1 Like Like |Link to Comment