300 million? Can anyone comment on this? If that is true, with 80 million in cash now, all other properties are only worth 20 million? current Market Cap: 406.20M.
I think I read somewhere that one of there properties could throw off 100 million in cash flow when fully operational?
"When asked what Los Azules could fetch in a sale, Ball said it could be roughly a USD 300m divestiture, using conservative assumptions of USD 2 cents per pound of copper. However, he cited other recent sales of copper porphyry assets similar to Los Azules that were completed for USD 5 cents per pound"
anyone stop by the McEwen Mining booth and ask what they think of the drop in their stock? I think insider buying would help out a lot here. (even know Rob is loaded to the gills but what about other management buying?)
As for this waterfall...looks like 2010's low of $2 will be the next level hit. amazing when you know that they didn't have any production then & the POG was under $1,000 and POS under $15.
there has to be something wrong to have that high of a short position against McEwen & now off 75% from Its peak?
“We are far below maximum employment and are likely to remain there for some time,” Williams said today in San Diego. “Under these circumstances, it’s essential that we keep strong monetary stimulus in place. The recovery has been sluggish.”
If one reads Hussman's weekly, then they should know why he's underperformed since 2009. He has said WHY a half dozen times in his weekly comments:
Who knew 9 Trillion of debt would be 16 Trillion (in Obama's 1st term) and Ben would blow up a 3 Trillion Fed Balance sheet (now levered 60-1) This is a death sentence.
-------------------------------------------
"It's likely that for some investors, our defensiveness since 2009 bleeds into a general inclination to take our concerns about risk with a grain of salt. On that subject, it's important to recognize that our defensiveness in 2009 did not result from unfavorable valuations or hostile indicator syndromes, but from the inability to distinguish prevailing conditions at the time from much of what was observed during the Depression-era. In response to the credit crisis, and what I continue to view as a misguided "kick-the-can" policy response, I insisted that our methods should perform well with reasonable drawdowns not only in post-war data, but also in Depression-era data (when for example, stocks lost two thirds of their value even after they were priced to achieve 10-year total returns in excess of 10% annually).
The resulting ensemble methods allow us to make distinctions that we were not able to make in 2009, but that period of stress-testing also left us with a "miss" (2009-early 2010) when the same indicators and methods that are so hostile today would have been much more favorable toward investment risk. One could ignore that fact, and use our miss in 2009 as a reason to ignore demonstrably hostile evidence today. But one would also have to overlook the fact that the narrow syndrome of conditions we observe today mirrors what we observed at the 2000 peak and the 2007 peak, and very few times in-between (including the 2010 peak and the runup to the 2011 peak - see last week's comment for a chart). Notably, whatever market returns we missed by being defensive too early in those instances were wiped out in short order anyway during the subsequent declines. Yes, stocks might move even higher before the present bull-bear cycle moves to completion. But you have to ask yourself one question. Do I feel lucky? "
I'm looking to add to these type miners that Bill has mentioned in the past (at higher levels) as long as the fundamentals haven't changed. But prices surely have over the last year. Today was a big step in the right direction for most PM stocks.
I was lucky enough to listen to Bill last month on UXG and double down in the low $3s
Today I attended the special meeting for US Gold and Minera Andes. Us Gold meeting took place first at 4pm where the 5 proposals were reviewed and presented, all passed with 95% support. During the Minera Andes side of the meeting it passed with about high 80% support. Rob passed the chair of the meeting role over to legal to avoid conflict of interest. One interesting point in the 5 US gold proposals was a restriction of repricing options with shareholder approval, you don’t see that much these days. Shows a sense of integrity from my perspective. There was is also a proposal to allow them to move go from 250 million shares to 500 million shares which passed.
At the end of the meeting Rob announced he was doing his part for quantitative easing, he asked everyone to remain seated while his staff handed out a Zimbabwe 100 trillion dollar note, a nice touch.
In contrast, as the adjacent chart illustrates, ECRI's WLI has trended down in two distinct waves since the end of April 2010. In the summer of 2010 ECRI's co-founder, Lakshman Achuthan, denied that the first wave down in the Growth Index was signaling an imminent recession. However, in late September 2011, Achuthan announced, dramatically and categorically, that the US was tipping into recession, and that "there's nothing that policy makers can do to head it off."
Was anyone else talking about profit margins in Dec 2007 (or even a looming recession)? I think he actually underestimated the drop in financials earnings did he not?
wow ... so many Hussman haters today. Why hate someone who shares such knowledge. love to see someone here debate him on the profit margins issue (besides Bill) Hussman said the same thing about Profit margins in 2007 when S&P500 was approaching $100 in earnings like now
Also he lays out some of the best plans on solving Europe's problems that I've heard anywhere
Thanks Papa D I didn't think the 300m was gonna close as easy as it looked.
300 million? Can anyone comment on this? If that is true, with 80 million in cash now, all other properties are only worth 20 million? current Market Cap: 406.20M.
I think I read somewhere that one of there properties could throw off 100 million in cash flow when fully operational?
http://mcewenmining.com/Theme/McEwen/files/doc_dow...
"When asked what Los Azules could fetch in a sale, Ball said it could be roughly a USD 300m divestiture, using conservative assumptions of USD 2 cents per pound of copper. However, he cited other recent sales of copper porphyry assets similar to Los Azules that were completed for USD 5 cents per pound"
anyone stop by the McEwen Mining booth and ask what they think of the drop in their stock? I think insider buying would help out a lot here. (even know Rob is loaded to the gills but what about other management buying?)
As for this waterfall...looks like 2010's low of $2 will be the next level hit. amazing when you know that they didn't have any production then & the POG was under $1,000 and POS under $15.
there has to be something wrong to have that high of a short position against McEwen & now off 75% from Its peak?
http://www.businessweek.com/news/2012-04-03/fed-s-...
“We are far below maximum employment and are likely to remain there for some time,” Williams said today in San Diego. “Under these circumstances, it’s essential that we keep strong monetary stimulus in place. The recovery has been sluggish.”
Fed’s Williams Says ‘Strong’ Stimulus Needed for Recovery
http://www.businessweek.com/news/2012-04-03/fed-s-...
they are kidding right?
The Dow Theory divergence needs to be closed for the Bull to continue.....
If one reads Hussman's weekly, then they should know why he's underperformed since 2009. He has said WHY a half dozen times in his weekly comments:
Who knew 9 Trillion of debt would be 16 Trillion (in Obama's 1st term) and Ben would blow up a 3 Trillion Fed Balance sheet (now levered 60-1) This is a death sentence.
-------------------------------------------
"It's likely that for some investors, our defensiveness since 2009 bleeds into a general inclination to take our concerns about risk with a grain of salt. On that subject, it's important to recognize that our defensiveness in 2009 did not result from unfavorable valuations or hostile indicator syndromes, but from the inability to distinguish prevailing conditions at the time from much of what was observed during the Depression-era. In response to the credit crisis, and what I continue to view as a misguided "kick-the-can" policy response, I insisted that our methods should perform well with reasonable drawdowns not only in post-war data, but also in Depression-era data (when for example, stocks lost two thirds of their value even after they were priced to achieve 10-year total returns in excess of 10% annually).
The resulting ensemble methods allow us to make distinctions that we were not able to make in 2009, but that period of stress-testing also left us with a "miss" (2009-early 2010) when the same indicators and methods that are so hostile today would have been much more favorable toward investment risk. One could ignore that fact, and use our miss in 2009 as a reason to ignore demonstrably hostile evidence today. But one would also have to overlook the fact that the narrow syndrome of conditions we observe today mirrors what we observed at the 2000 peak and the 2007 peak, and very few times in-between (including the 2010 peak and the runup to the 2011 peak - see last week's comment for a chart). Notably, whatever market returns we missed by being defensive too early in those instances were wiped out in short order anyway during the subsequent declines. Yes, stocks might move even higher before the present bull-bear cycle moves to completion. But you have to ask yourself one question. Do I feel lucky? "
thanks Bill
I keep a list of juniors you said you liked. I bought GXEXF.PK earlier this week when I saw the bigger PMs start to rally.....glad I did.
Thanks Northern Otoko
I'm looking to add to these type miners that Bill has mentioned in the past (at higher levels) as long as the fundamentals haven't changed. But prices surely have over the last year. Today was a big step in the right direction for most PM stocks.
I was lucky enough to listen to Bill last month on UXG and double down in the low $3s
Thanks to Helicopter Ben for a great day!
Anyone have an update on this miner?
looks like it may have hit bottom (price) in Dec
not mine I found on a search this am
http://goldandsilverlinings.com/?p=1844
Today I attended the special meeting for US Gold and Minera Andes. Us Gold meeting took place first at 4pm where the 5 proposals were reviewed and presented, all passed with 95% support. During the Minera Andes side of the meeting it passed with about high 80% support. Rob passed the chair of the meeting role over to legal to avoid conflict of interest. One interesting point in the 5 US gold proposals was a restriction of repricing options with shareholder approval, you don’t see that much these days. Shows a sense of integrity from my perspective. There was is also a proposal to allow them to move go from 250 million shares to 500 million shares which passed.
At the end of the meeting Rob announced he was doing his part for quantitative easing, he asked everyone to remain seated while his staff handed out a Zimbabwe 100 trillion dollar note, a nice touch.
In contrast, as the adjacent chart illustrates, ECRI's WLI has trended down in two distinct waves since the end of April 2010. In the summer of 2010 ECRI's co-founder, Lakshman Achuthan, denied that the first wave down in the Growth Index was signaling an imminent recession. However, in late September 2011, Achuthan announced, dramatically and categorically, that the US was tipping into recession, and that "there's nothing that policy makers can do to head it off."
http://advisorperspectives.com/dshort/commentaries...
CNN Cuts Off Soldier Who Voted For Paul and Spoke Out Against More War!
http://www.youtube.com/watch?feature=player_embedd...
Ron Paul brought this soldier back on stage/TV to finish what he was saying because CNN wouldn't re-interview him.
http://www.youtube.com/watch?feature=player_embedd...
I watched this unfold.....media censorship of Ron Paul is out of control
Wow Ron Paul just brought this soldier back on TV to finish what he was saying (because CNN wouldn't re-interview him.) was he cut off or not?
CNN has technical difficulties? right when a solder was about to say something positive on Ron Paul's view on the wars?
http://www.youtube.com/watch?feature=player_embedd...
try telling these citizens that paper is money
http://www.youtube.com/watch?v=7ubJp6rmUYM
funny how they use their currency to store real money
try telling these citizens that paper is money
http://www.youtube.com/watch?v=7ubJp6rmUYM
funny how they use their currency to store real money
"The Ron Paul scenario worries me too, as he is probably not aware of all the unintended consequences of his policies. "
If Ron Paul got elected my worries about the future of America would greatly diminish We would be on the path towards freedom and liberty again.
End the Fed!
Clark17,
scroll down and read: "Earnings risks"
http://www.hussmanfunds.com/rsi/psratio.htm
Was anyone else talking about profit margins in Dec 2007 (or even a looming recession)? I think he actually underestimated the drop in financials earnings did he not?
wow ... so many Hussman haters today. Why hate someone who shares such knowledge. love to see someone here debate him on the profit margins issue (besides Bill) Hussman said the same thing about Profit margins in 2007 when S&P500 was approaching $100 in earnings like now
Also he lays out some of the best plans on solving Europe's problems that I've heard anywhere