time to sell, bruce/boreps Thanks for responding to my post. Its great to stimulate conversations such as these.
I had a look at the latest November presentation. It kinda renewed my optimism somewhat. But all of us longs will remember that Bjorkdale was always touted to start at 65k oz per year to be ramped up to 80-100k. So I am somewhat pessimistic of thier gold production forecast for Bjorkdale. As far as the transition from contractors to owner operated goes, I think its great. That should have happened a long time ago. It takes capital though. I hope they have enough as our cash is steadily depleting. I personally have a sick feeling in my stomach of another financing. I know the push will be on to get the sp up to the warrant financing levels but that will be very tough in this economic environment. Even if they do get their warrant money, I still think more financing will occur before/if Lupin restarts. The 40% increase in head grade from cable bolting sounds optimistic. It might happen over time but not overnight. Correct me if I'm wrong, but havn't they been talking about cable bolting for close to 18 months now?
The chart for elg looks awesome except for one key thing. the intraday trades the other day fell through support at 72 and went to 70 before closing back up higher.
Let me be clear, I am not talking about selling to buy something else. I'm talking of selling to sit on cash. Or use the cash for more day trading as the volitility of the markets are going up. I still think this company has great potential, but in this economic environment. I think I'll be selling half in hopes to buy back in the future at lower prices. Nothing wrong with locking in a profit, even if it is small-GIC-like.
I am seldom right though, so maybe it is time to load up!
Good luck to all.
Billy