RE:RE:RE:RE:RE:Any idea why TMM
Thanks. My issue with Klondex is the reserve base. I read today commentary by a fund manager holding the name who said they're short-lived mines, and they are. The reserves there are significantly less than TMM's reserves. My suspicion is that TMM is using the money to get AP to a pre-production stage, at which point they will be bought out just like your typical junior proving up a deposit. I prefer equity to debt as it's more conservative. I am seeing a lot of iinstitutional interest in Torex, TMM's neighbour. I have to assume the instititions buying their stakes have done their DD on Guerrero. I admit I really like Torex as well, even if the valuation isn't bargain-basement, because I think this gold system is extraordinary and Torex will have the potential to be a more than 700,000 ounce producer. Location, location. TMM has it. Rather than KDX, I'd prefer to own TXG, and I do. TXG also has some meaningful production hedged at $1240. I forget how much. In terms of gold price, I'm confident $1210 is the bottom. It is going to take something extraordinary to break through that. Right now USD strength is at an extreme, and the bias in gold is definitely to the upside. Cheers.