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PM Mining Stocks
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May 01, 2019, 01:50:58 PM
TMAC (TMMFF) was on a comparison slide in another company's presentation, and that got me to have a look. They are a Nunavut new producer still working the kinks from a 20 year projected mine operation at 160,000 to 180,000 gold ounces per year (AISC is projected around or just under $1000 per ounce). 2P reserves are around 3.6 million ounces and some 5 million more in less defined categories. Resource Capital Funds, Newmont Goldcorp, and Blackrock have 30.7%, 28.5% and 12.9% of shares outstanding, so there is heavy hitter backing. Further, Sprott has lent them funds for the initial build. Certainly those four companies did DD and found the company valuable. Terrance MacGibbon is the executive chairman and he has a stellar record for mining company development. I hold no position, but the company looks attractive.
Charts are a bit ugly, but the fundamental story suggest they might be at a bottom and would get an extra boost with improving gold pricing. Note the death cross and improving MACD on first chart. On the second chart, share price is challenging the 20 day MA, RSI is improving, and the very short term STO's have turned up. Do your own DD.
May 15, 2019, 01:35:05 PM
I took a position in TMAC (TMMFF) today. Chart is improving. Assuming the holders listed above have 72% of shares in hands that are not likely to sell as their cost is probably higher than current share price, only 28% is float so volatility could be high. The move today might be in sympathy with the SPVEF buyout as this company situation looks ripe for a take out. Chart is improving:
May 21, 2019, 10:35:19 AM
I added to my TMAC position today. I think this could be a long term hold for me.
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