Endeavour Mining plc T.EDV

I'm Excited!

[marben100]

...and that's probably a signal to sell. Nevertheless, I added to my holding a few days ago @ C$30.25. There are just so many catalysts coming up over the next 6 months:

• First, I expect Q4 to be a record quarter, with Boungou ramping up and Hounde processing higher grade Kari Pump ore.
• To be followed by an even better Q1 next year, with a whole quarter of Boungou fully ramped up and completion of the Teranga takeover.
• Also in Q1, we have payment of the maiden dividend, maiden reserves for Kari Centre & Kari Gap and the Fetekro PFS.
• After that we get confirmation and details of the London Listing, which should trigger buying by London-linked tracker funds.

I am hoping/expecting that this will prove to be a bargain price.

Cheers!

Mark

[RONNIE111]

Don't sell now!   I got my first sell set at $50.  And maybe then not sell all, and keep some for the dividend.  $50 will give a Market Cap , post this last , and maybe final , merger, of about $13 billion. If gold stays anywhere near here, the numbers will totaly justify that cap.   Gold companies are very unloved, under valued, uncool.  Bitcoin, Apple

[theCurse]

Well, it's tough sledding and whether it makes sense or not is irrelevant.  It would seem the market is figuring on lower POG in the medium term - we'll see.  I re-entered too early on half of what i own now - not fully but enough to not want to bite right now.  And it has had an anchor around it ever since the merger was announced (and lost an on-going 3-5 bucks to date

[mercedesman]

Too be fair, I think the price action has little to do with the merger, and everything to do with the consolidation period that is happening for Gold at teh moment.  Pretty much every gold stock that I own is acting the same way. In other words, the merger is neither a catayst nor an anchor for EDV at the moment. My gut tells me it will be a major catalyst, once the PoG retarts a new upward

[theCurse]

MM, I respectfully (yet completely) disagree.  :) You chart the GDJX to EDV over the last year - up until the day the merger is announced is pretty much an overlay (minor blip here and there as can be expected).  Then EDV drops down 10-15% and then continues to track the GDJX perfectly...just 15% lower.  Any other gold stock will just track GDJX over the last year as an overlay up

[RONNIE111]

I do totally agree with your analysis mercedesman.  GDX has dropped from $45 to $35 in the past few months and that to me totally explains the price action.   Once the merger is completed, the new company will be the best of the top 10 senior producers by many metrics.  I remember Sebastein saying awhile ago, after the merger was announced, that he thinks EDV shouldn't grow

[theCurse]

Seriously?  Or did you not look at the chart. "totally explains the price action".  it's right there in the chart. I did not say this was fair or not.  whether the merger is good or not.  but stated the obvious. tC

[marben100]

I agree with you TC - and that's part of the reason I added to my holding. We had exactly the same behaviour with the SMF merger: EDV sold off hard when that merger was announced (kicking myself that I wasn't brave enough to add @ around C$18 then). However, since that merger completed, the share price hasn't looked back (until the TGZ one was announced!). This is logical, as merger

[theCurse]

Hi Mark, There is no arbritrage here - at least not when i have checked.  the other day i went to buy EDV and thought, hey, i'll check to see if TGZ is trading at a discount like SMF was.  And again,  I just looked at the live quotes again as i type.  Both instances had it almost to the penny at the right ratio (EDV was a 7 cent better buy the exact moment i checked today)

[mercedesman]

Depends on your point of reference. Aug 5 was a summer high for golds.  GDXJ went from 63 to 51 (today) or down exactly 19% EDV went from 36.85 to 29.83 or down 19% With reference to your chart, sure there has been a short term divergence since the merger announcement - I will give you that. Explanation? In my experience there always seems to be a relatively more immediate negative market