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Endeavour Mining plc T.EDV

Alternate Symbol(s):  EDVMF

Endeavour Mining plc is a United Kingdom-based senior gold producer with operating assets across Senegal, Cote d’Ivoire and Burkina Faso. The Company has a portfolio of advanced development projects and exploration assets in the highly prospective Birimian Greenstone Belt across West Africa. It operates mines that include Hounde Mine, Ity Mine, Mana Mine and Sabodala-Massawa Mine. The Hounde Mine is located approximately 250 kilometers (kms) southwest of Ouagadougou, the capital city of Burkina Faso. The Hounde Mine is owned by the Company (90%) and Government of Burkina Faso (10%). It owns approximately 85% of Ity Mine, which is located 480 kms northwest of Abidjan in southern Cote d'Ivoire. The Mana Mine is located approximately 200 kms west of Ouagadougou, the capital of Burkina Faso. The Sabodala-Massawa Mine is approximately 640 kms southeast of Dakar, the capital of Senegal. It owns approximately 80% of the Lafigue project. Its other projects include Kalana, Bantou and Nabanga.


TSX:EDV - Post by User

Bullboard Posts
Comment by December3on Dec 15, 2012 12:09am
195 Views
Post# 20734204

RE: RE: before wednesday...

RE: RE: before wednesday...

>>>>This SHOULD mean that selling is (finally) exhausted,<<<
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Nah, I suspect that the selling won't be exhausted until December 31, 2012.  The reason I say this is that I suspect that a lot of the selling is tax loss selling.  Canadians, if I understand correctly have to have the trade settled before it counts.  However, US tax law doesn't require such - as long as one has a trade ticket with a sale on 12-31 the stock is sold for that tax year, regardless of when the transaction settles.

.

So there is the potential for another two weeks of tax loss selling.  Oh, and don't forget, ALL of the Avion shareholders are underwater on their investment in EDV, so that BIG block of shares is definitely a candidate for tax loss selling.

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Then if US markets take a nose dive next week over the "fiscal cliff" issue then it is unlikely that miner shares will buck the trend.

 

Bullboard Posts