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Recent Posts

1
Coin Collecting / Re: Half-cent coin
Last post by ken -
https://www.damninteresting.com/curio/half-a-thought/
The coin contained 5.44 grams of 100% copper, worth about 3 cents in today's copper prices. The article says it is worth 15 cents in today's dollars, but there is no date for the article that I saw. In round numbers, the dollar has lost 99% of its purchasing power since birth of the fed; therefore the coin would be worth about fifty cents today but the numismatic value is certainly much higher.

Today's penny is mostly zinc to cut cost of manufacture and still the country loses money minting them. The big question never publicly asked is what is the root cause for coins and currency becoming essentially worthless over time when a characteristic of money is store of value? Why are silver coins now only clad with silver and called political sandwiches? It is abject failure by our politicians, democratically elected stewards of our republic, to mange the country prudently. What they have done instead is buy votes and lined their pockets. There is a quote at the bottom of 321gold.com that sums it up; "This is the Golden Age of fraud, an era of general willingness to ignore and justify the wrongdoings of the rich and powerful, which makes every lie bigger and widens its destructive path."
Reed Albergotti
I havbe a quote too. Learned it from my father.

It goes like this:

The Politicians Oath.
 I'm on my honor to do my best,
to help myself,
and cheat the rest.
2
Miscellaneous / Re: Fixing our mess
Last post by sandybeachdave -
Fixing interest rates below free market discovery has pushed companies that cannot service their debt to near 20%. This is being exacerbated by the fed's direct purchase of corporate debt.



Link to full article:

https://www.dollarcollapse.com/stocks-bad/

3
Commodities / Re: Long Term copper
Last post by andre171 -
With this target of 12, what would you think of First Quantum (FM.TO)?
4
Commodities / Re: Long Term copper
Last post by sandybeachdave -
I do not think copper is reflecting an economic recovery, rather diminishing dollar purchasing power. I really looks good and that $12 ten year target might come early.




FCX and SCCO also reflecting the bump in copper





5
Coin Collecting / Re: Half-cent coin
Last post by sandybeachdave -
https://www.damninteresting.com/curio/half-a-thought/
The coin contained 5.44 grams of 100% copper, worth about 3 cents in today's copper prices. The article says it is worth 15 cents in today's dollars, but there is no date for the article that I saw. In round numbers, the dollar has lost 99% of its purchasing power since birth of the fed; therefore the coin would be worth about fifty cents today but the numismatic value is certainly much higher.

Today's penny is mostly zinc to cut cost of manufacture and still the country loses money minting them. The big question never publicly asked is what is the root cause for coins and currency becoming essentially worthless over time when a characteristic of money is store of value? Why are silver coins now only clad with silver and called political sandwiches? It is abject failure by our politicians, democratically elected stewards of our republic, to mange the country prudently. What they have done instead is buy votes and lined their pockets. There is a quote at the bottom of 321gold.com that sums it up; "This is the Golden Age of fraud, an era of general willingness to ignore and justify the wrongdoings of the rich and powerful, which makes every lie bigger and widens its destructive path."
Reed Albergotti
6
Silver • General Discussion / Re: Silver flags
Last post by ken -
With all the turmoil of the elections comes political instability which is good for metals.
8
Silver • General Discussion / Re: Silver flags
Last post by sandybeachdave -
PM's have been frustrating recently and could get more frustrating. there is a potential bear flag being painted on the silver chart and as shown on Ed's chart above, 50DMA has rolled over but still bull oriented with the 200 DMA. There is still horizontal resistance around $26. While the up trending bear flag is being painted the volume continues to trend down. Who knows what might happen with the election.

Then there is the positive, BB's are pinched and turned up, RSI is generally trending up, and MACD looks positive. Also very encouraging to me is the price continues to trace above the lower regression channel boundary drawn from the mid March lows, an indication that the mid to long term steeper up trend continues. I am still convinced we have a monster bull market to enjoy, it is just frustrating waiting for it; after all, I want my patience and I want it now.

9
CDE - Coeur Mining Inc / Re: 3Q 2020
Last post by andre171 -
Under this link on page 7, Average Consensus Free Cash Flow Per Ounce:
http://s22.q4cdn.com/546540291/files/doc_presentations/Presentations/2020/10/SSR-Mining-Denver-Gold-Forum-2020.pdf
How much for CDE ? Make the comparison and give us your considerations!
Not sure you had the right link as it is to an SSRM presentation and not anything related to CDE. That said, SSRM has done well and recently I sold my entire position for a clean triple because I did not like the focus on free cash flow at the expense of a profit focus and I did not like the increasing presence in Turkey. SSRM may continue to do well, but the political risk with Turkey is being underestimated in my opinion.

As Bob Moriarty of 321Gold.com says, the poorer mining companies often do better in a mining recovery because dog mines become respectful with increasing product prices. CDE has been a poorly run operation for a long time and likely to stay that way as management and BOD are entrenched and shareholders are not likely to make the decision to replace them. CDE has been one of those poorer companies that Moriarty speaks of, but not because of poor quality assets that can be made better by rising product prices, rather poor management. Increased product prices would help poor management and decisions, but management has foolishly hedged a significant percentage of the gold stream over the next two years to prices below current levels. That means increased product pricing will have diminished influence improving their poor performance. Krebs has proven himself to be a self serving academic not looking at shareholder interests foremost and not operationally oriented. He has further demonstrated he cannot or will not hire to backfill his deficiencies and further has a BOD that functions as staff reporting to him rather than managers of the company who Krebs reports. I firmly believe this situation will be in college text books as how not to run a company.
It is true that the management of CDE has not been brilliant in the past, but I hope that the results published on the 28th (I allow myself to expect 0.1 earnings per share) will diminish your pessimism. Me, I still believe an improvement even if I deplore the lack of respect of the management for the shareholders. For the gold cover, I am less negative because it is insurance that we have not yet needed but which could be useful. It will have cost + - 4M this quarter, but it makes possible certain investments which would be too risky without it. Excuse my bad English, I speak French!
10
Under this link on page 7, Average Consensus Free Cash Flow Per Ounce:
http://s22.q4cdn.com/546540291/files/doc_presentations/Presentations/2020/10/SSR-Mining-Denver-Gold-Forum-2020.pdf
How much for CDE ? Make the comparison and give us your considerations!
Not sure you had the right link as it is to an SSRM presentation and not anything related to CDE. That said, SSRM has done well and recently I sold my entire position for a clean triple because I did not like the focus on free cash flow at the expense of a profit focus and I did not like the increasing presence in Turkey. SSRM may continue to do well, but the political risk with Turkey is being underestimated in my opinion.

As Bob Moriarty of 321Gold.com says, the poorer mining companies often do better in a mining recovery because dog mines become respectful with increasing product prices. CDE has been a poorly run operation for a long time and likely to stay that way as management and BOD are entrenched and shareholders are not likely to make the decision to replace them. CDE has been one of those poorer companies that Moriarty speaks of, but not because of poor quality assets that can be made better by rising product prices, rather poor management. Increased product prices would help poor management and decisions, but management has foolishly hedged a significant percentage of the gold stream over the next two years to prices below current levels. That means increased product pricing will have diminished influence improving their poor performance. Krebs has proven himself to be a self serving academic not looking at shareholder interests foremost and not operationally oriented. He has further demonstrated he cannot or will not hire to backfill his deficiencies and further has a BOD that functions as staff reporting to him rather than managers of the company who Krebs reports. I firmly believe this situation will be in college text books as how not to run a company.