James Emerson's  Instablog

James Emerson
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Hedge fund trader and analyst specializing in REIT, hotel, home building, real estate, financial, and consumer discretionary stocks. Preferred stock expert. Extensive experience investing using a variety of typical hedge fund strategies including long/short equity, merger arbitrage, capital... More
  • Trading Update: Tanzanian Royalty Exploration,TRX collapsing 5 comments
    Aug 24, 2011 12:40 PM | about stocks: TRX

    The stock broke the key $5.70 level on relatively light volume.  $5.70 is a key level as it was price the underwriter paid in the recent offering.  Recent purchasers are now significantly underwater.  The next key level is the $5.30s which is my estimate of the entry price for the largest shareholder, Geier International Strategies Fund managed by Mr. Gibson.  Look for the downward trend to continue and accelerate if the stock breaks below $5.30

    Stocks: TRX
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Comments (5)
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  • Mark3
    , contributor
    Comments (5) | Send Message
    Can you do an instablog update on Tanzanian Royalty? I know shareholders think that this stock will trade 11 times what is is doing now. Has anything changed?
    3 Jun 2013, 01:34 AM Reply Like
  • saul5000
    , contributor
    Comments (2) | Send Message
    I like how you are short and then trash talk the stock
    10 Dec 2014, 07:46 AM Reply Like
  • James Emerson
    , contributor
    Comments (323) | Send Message
    Author’s reply » Do you also like how accurate my analysis has been? I challenge you to point to one material inaccuracy. The stock has declined from $6.90 to $0.85 since I have been following it. The whole point of this web site is it provide information that allows investors to profit. The best way to profit on this stock is from the short side.
    10 Dec 2014, 09:31 AM Reply Like
  • Arius001
    , contributor
    Comments (4) | Send Message
    On the material inaccuracy two things:


    first you do not publish other commentators differing with your views.
    second you do not dispute their reserves. The reserves are the main point the stock has any value at all.
    21 Dec 2014, 03:35 AM Reply Like
  • James Emerson
    , contributor
    Comments (323) | Send Message
    Author’s reply » The company has zero reserves. There is a distinction between reserves and resources. The following disclosures are from TRX's annual report filed with the SEC.


    "All of the Company’s properties are in the exploration stage and no proven mineral reserves have been established."


    "Cautionary Note to U.S. Investors Concerning Estimates of Mineral Resources U.S. investors are cautioned not to assume that any part or all of mineral resources in these categories will ever be converted into mineral reserves."


    "A Mineral Reserve is the economically mineable part of a Measured or Indicated Mineral Resource demonstrated by at least a Preliminary Feasibility Study. This Study must include adequate information on mining, processing, metallurgical, economic, and other relevant factors that demonstrate, at the time of reporting, that economic extraction can be justified. A Mineral Reserve includes diluting materials and allowances for losses that may occur when the material is mined."


    The companies mineral resources are either not mineable as is the case with Kigosi or not demonstrated to be economical to mine as is the case with Buckreef.
    21 Dec 2014, 11:39 AM Reply Like
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