Post by
templetooth2 on Sep 27, 2024 9:46pm
what I wrote May 14
Every investor has to make his/her own decisions and shouldn't be reliant on chat boards to make them. I sold my entire position today. You should do what you think best.
Everybody knew this was a low grade orebody. But just how low grade only comes through in the breath-takingly bad numbers. This deposit still has value, just not sure if Troilus does. I recall years ago, decades ago, when natural gas had a temporary blip to some number that's only been seen once since. I believe it was Canada Southern Petroleum that had a big natural gas resource in the high Arctic, and against all odds, attracted a takeover bid simply for its option value. The gas is still there and I fully expect it'll still be there long after you and I have departed this mortal coil.
I deployed half my proceeds into Baytex and Collective Mining. I also want to buy some Skeena but am painfully aware that the company is almost as non-skilled as JR in raising money. I'll await the financing bloodbath before committing dollars. Skeena's grade is close to 4 g/t. As we've just seen, there's no good reason to putz around with sub-gram companies. Best gold price ever has been blasted out of the water by capex inflation.
Who woulda thunk? Hoisted on our own petard by inflation. Ironic, no?
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Pretty good advice about Skeena. Actually, not long after the above, Skeena announced their financing, and unbelievably!!! the stock went down for a day and a half. From about $6.50 to $5.50. Recently, it was as high as $12+.
For my next act, I suggest you take a hard look at (and BUY) some AAUC, Allied Gold. Location isn't for everyone, but as soon as I find a geat deal just outside Avignon I'll let you know!