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Old 08-04-2020, 02:22 PM   #2206
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[quote=Secondbest;2639031]
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Stock futures opened lower. Gold opened higher. Gold has been in a large box range for a few months now. It's right at the top now. I'm keeping an eye on it. If and it's a big one it's breaks up and hold for 2 days.a good rally could occur. It measures to just shy of 2000. It might be worth looking at if your so inclined[/QUO


August gold is at 1995 up $29. The more heavily traded DEC contract is at 2017. NUGT the 2x gold miner etf , which I bought went from 72 at the breakout to 108 now. As long as the dollar is weak gold will go higher.
The dollar ain't recovering any time soon.
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Old 08-04-2020, 02:56 PM   #2207
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my little MUX is leading the gold miners up today, finally some action on that baby.
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Old 08-04-2020, 05:00 PM   #2208
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August gold now up $43 to 2010
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Old 08-04-2020, 05:18 PM   #2209
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Fed will be outlining policy to drive rates lower in the next few months. Inflation will be here to stay for a long while. Mining stocks will be an intense focus.
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Old 08-04-2020, 05:19 PM   #2210
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my little MUX is leading the gold miners up today, finally some action on that baby.
Lambo, refresh me on the pertinent info on MUX if you don't mind.
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Old 08-04-2020, 07:20 PM   #2211
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Lambo, refresh me on the pertinent info on MUX if you don't mind.
the most pertinent info is that i have been buying this stock starting at $6.00 all the way down to $.60 for the past 6 years.

the guy that runs the company was very successful with Goldcorp, which took over another company called Glamis Gold. he left Goldcorp before that takeover. Goldcorp wound up getting bought out by Newmont Mining.

when McEwen left Goldcorp the share price was $50. he brought it up from $3 to the $50 and cashed out. i was also in Goldcorp under $10 and sold in the $40's.

today, McEwen has some real good properties, but they have not done a good job exploring and building mines. they had a fire, and a robbery in one of their mines.

i am guessing they are ready to turn the corner now. (i hope they are anyway) my belief is the CEO is as good as it gets. i have met the man a few times and have been very impressed. Rob McEwen is is the largest shareholder of the company and does not receive a salary. he only wins if you win.
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Old 08-04-2020, 10:55 PM   #2212
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the most pertinent info is that i have been buying this stock starting at $6.00 all the way down to $.60 for the past 6 years.

the guy that runs the company was very successful with Goldcorp, which took over another company called Glamis Gold. he left Goldcorp before that takeover. Goldcorp wound up getting bought out by Newmont Mining.

when McEwen left Goldcorp the share price was $50. he brought it up from $3 to the $50 and cashed out. i was also in Goldcorp under $10 and sold in the $40's.

today, McEwen has some real good properties, but they have not done a good job exploring and building mines. they had a fire, and a robbery in one of their mines.

i am guessing they are ready to turn the corner now. (i hope they are anyway) my belief is the CEO is as good as it gets. i have met the man a few times and have been very impressed. Rob McEwen is is the largest shareholder of the company and does not receive a salary. he only wins if you win.
This is helpful. Thanks a bunch.
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Old 08-06-2020, 11:15 PM   #2213
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MUX earnings comes in bad

Ouch! ~ "On To The Next Quarter".

A net loss of $19.8 million in Q2, or $0.05 per share, compared to a net loss of $13.0 million, or $0.04 per share, in Q2 2019.

________
Operations Update

Comments by Rob McEwen: Chairman and Chief Owner.

I very much wish I could say that all our difficulties that started last year are now behind, but they are not, yet. The second quarter was challenging from an operational and health and safety standpoint. Our significantly lower production not only reduced our revenue, but also dramatically increased our costs per ounce. In addition, a change in how we account for development expenditures added significantly to our cash cost per ounce at Black Fox. However, our path to future growth and improved operational performance has become clearer.

We are in a transition period setting up for future growth. We have a large resource base, four operating mines and can see an exciting organic growth pipeline of projects ahead that could potentially push our production to 300,000 ounces per year. I recently purchased 2 million shares, increasing my ownership to 82 million shares, and underlining my confidence in our future.

McEwen did say a few months ago that it would take 2 quarters to turn this company around. i don't know how much of this is already priced into the stock.

the company still has plenty an abundance of known metals in the ground. they keep shooting themselves in the foot though. if you believe the CEO, this stock will be more than a home run.

the good thing is that he is being honest and not hiding anything. the conference call tomorrow at 11 a.m. might tell more going forward.

i am still holding and probably buying more if the share price declines.
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Old 08-06-2020, 11:17 PM   #2214
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Ouch! ~ "On To The Next Quarter".

A net loss of $19.8 million in Q2, or $0.05 per share, compared to a net loss of $13.0 million, or $0.04 per share, in Q2 2019.

________
Operations Update

Comments by Rob McEwen: Chairman and Chief Owner.

I very much wish I could say that all our difficulties that started last year are now behind, but they are not, yet. The second quarter was challenging from an operational and health and safety standpoint. Our significantly lower production not only reduced our revenue, but also dramatically increased our costs per ounce. In addition, a change in how we account for development expenditures added significantly to our cash cost per ounce at Black Fox. However, our path to future growth and improved operational performance has become clearer.

We are in a transition period setting up for future growth. We have a large resource base, four operating mines and can see an exciting organic growth pipeline of projects ahead that could potentially push our production to 300,000 ounces per year. I recently purchased 2 million shares, increasing my ownership to 82 million shares, and underlining my confidence in our future.

McEwen did say a few months ago that it would take 2 quarters to turn this company around. i don't know how much of this is already priced into the stock.

the company still has plenty an abundance of known metals in the ground. they keep shooting themselves in the foot though. if you believe the CEO, this stock will be more than a home run.

the good thing is that he is being honest and not hiding anything. the conference call tomorrow at 11 a.m. might tell more going forward.

i am still holding and probably buying more if the share price declines.
Time to buy....
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Old 08-06-2020, 11:24 PM   #2215
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in the mining business, when you report the number 300,000 ounces, that is always in gold even if its silver that was mined. they just multiply the amount of silver that it takes to buy an ounce of gold and report the numbers that way.

McEwen basically has an all in cost of $1200 per ounce of gold. some of these proven mines have a 15 year life to them. there is also unexplored property around these mines that could convert into more metals being mined. none of them would be open pit though, meaning that you would have to build more mines to get at the metal. with higher prices its worth it.
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Old 08-07-2020, 11:24 AM   #2216
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$DXY up .75%. Knocking gold down. Nothing goes straight up or down
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Old 08-07-2020, 05:42 PM   #2217
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gold down $46 at one point today

MUX rejected lower price and wound up finishing down .02 for the session. that stock did better than any other gold miner that i follow today after a piss poor earnings report. watchout with this one now.
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Old 08-07-2020, 05:59 PM   #2218
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gold down $46 at one point today

MUX rejected lower price and wound up finishing down .02 for the session. that stock did better than any other gold miner that i follow today after a piss poor earnings report. watchout with this one now.
Big adjustment was due. I'm with you on MUX. Just a matter of time.
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Old 08-10-2020, 11:26 AM   #2219
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Barrick Gold (GOLD) just announced earnings today and had some wild numbers. so Mark Bristoe, the CEO upped the dividend 14%.

before taking over Barrick, he ran Randgold. when he ups dividends he doesn't expect to ever lower them!

i don't particularly like Barrick, so i don't own it, but it is a big one to follow to give you an idea what's going on in the industry. .

MUX now over the pre-earnings price from last thursday. that one looks great
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Old 08-10-2020, 11:47 AM   #2220
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Kodak now back under $10 on its way back to hell.

the government is never going to give this company $840 million. this stock going back to $2 or less. great short now!
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