Comment by metalhead666on Dec 06, 2024 12:31pm
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Post# 36349490
RE:RE:RE:25 years and still waiting for my first dividend
RE:RE:RE:25 years and still waiting for my first dividend You don't buy mining stocks with any hope of being an income generator. You buy them as speculations only. Mining...all mining....is the worst possible business it's possible to be in. All mines eat their seed corn. An ounce or pound mined is gone forever and all that cash flow has to go back into finding more which inevitably costs more.
You buy mining stocks as speculations knowing this and buy them when "re rating" is in the cards or they are at cyclical bottoms or when the gamblers are enamored with things like crypto and tech and mining stocks get silly cheap on an NPV basis
Florence will have an NPV of $3 BILLION US at $5 copper....That's 5x the current market cap for Florence alone. Add in Gibraltar and the other properties especially if Yellowhead moves forward and this is a $10 US stock IMHO
I'm adding steadily under $2 per share
In a couple of years we could see copper significantly higher than $5 ....get Yellowhead going and $10 stock price will be my floor instead of a ceiling