I just updated my site, been along time but I hope you all enjoy it.
Lex Corp News Letter
It's been awhile since my last update. But, I have been Twittering. Life has been busy and it's been keeping me away from my website. If this was a paid service then I would be updating the website regularly. Again, I will try my best to update the website on a regular basis.
Gold stocks are currently getting no respect. With Gold trading around $1700oz. gold producers are still generating a lot of money. Goldcorp from Sept. to early Nov. was trading between $40-$45. Today, it's trading at a very attractive price of $36.48. Most, gold stocks have gotten sold off during the last 2 weeks of November. If Goldcorp reaches it 52wk low again I will be an aggressive buyer. I personally believe Gold should be trading much higher due to the European Financial Crisis and due to the Fiscal Cliff. I also think the shorters who are shorting gold are going to feel the squeeze. Gold Bugs should pay attention to nexts week meeting Federal Reserve FOMC,...could be a market maker.
The Take Over Targets
http://www.monetaporcupine.com/s/Home.asp
Moneta Porcupine Mines- ME.v - I have mentioned this stock on my Twitter and been following it since .21cents. This company has been releasing nothing but great news. At .29cents this stock is dirt cheap. They currently have aprox. 4.29mil. oz of gold and they also released a PEA a few weeks ago showing a net present value of $748mil. at a gold price of $1350. With gold trading around $1700 the NPV is much, much higher. Investor should take a very close look at this company. I own a very large position and I will continue to keep increasing my position if the stock trades below .25cents. Investor should take a look at another company that I followed that got taken out- Prodigy Gold. Argonaut Gold saw value in Prodigy Gold. Who will see value in Moneta Porcupine Mines?? I am sure they are on the radar of a gold producer and it's not if?,...but when they will be taken out. This stock is cheap and should be trading at much higher prices -close to where Prodigy Gold was trading prior to it being taken out.
The company also announced this week that they hired a VP of Exploration -Roger Aubertin of Detour Gold. ME.v seems to be hiring the right people to help them increase their resource. With 20,000 meters of drilling to take place in 2013 we can see this resource grow by another 1-2mil.oz.
Possible buyer: Aurico Gold-AUQ.to - they have cash in the bank and ME.v would be a great fit for them. JMHO
Northern Miner Article: http://www.monetaporcupine.com/i/pdf/NM-DE-11262012.pdf
Here is an article that Bob Moriarty 321gold.com posted on his website: http://www.321gold.com/editorials/moriarty/moriarty111912.html
Corp.Presentation: http://www.monetaporcupine.com/i/pdf/MONETA_NOVEMBER_2012.pdf
Say Good Bye to PMI Gold-PMV.v - I have mentioned on Sept. 16th that this company is a very attractive take over target. Would of been a great fit for Perseus Mining-PRU.to but it looks like Keegan Resources made the first move. Keegan and PMI Gold will be combining both companies to make a new company called AsankoGold. I am thinking about taking a position in this new company. With $340mil in cash, no debt and almost 10mil.oz Keegan looks very attractive. Click on link: http://www.pmigoldcorp.com/i/pdf/Asanko-05Dec12-Conf-Call.pdf
Lately, we have been seeing juniors with excellent projects get taken out. Galway Resources-GWY.v which I have covered many times in the past got taken on Oct.19. Extorre Gold- who's stock price was beaten down got taken out by Yamana. I believe we will see a lot more acquisitions in 2013. Watch for companies with excellent projects, trading at bargain prices.
Belo Sun Mining- BSX.to - is take another take over target that I have mentioned in the past. The company came out with some more drill results that will be added to a new updated 43-101 that should be out this month. The stock has been holding up well most likely because good news might be around the corner. Here is a note regarding the drill results that was made by the VP of Exploration:
Helio Diniz, the Vice President of Exploration for Belo Sun, stated, "We are very pleased to see the results confirming our expectations about the quality of the Volta Grande gold deposits. In a"ddition, the modelling of the deposits are meeting our expectations to deliver the new resource estimate before the end of the year, which will be incorporated into a new mining plan that will be the basis of the pre-feasibility study to be released in Q1 2013."
At present Volta Grande has 2.85 million ounces in the measured and indicated category grading 1.69 g/t and 2.3 million ounces grading 1.81 g/t in the inferred category (see press releases dated April 25th, 2012 and June 11th, 2012). The focus of this campaign has been to upgrade inferred resources into the measured and indicated category and to expand the overall size of the resource estimate."
http://www.belosun.com/
Belo Sun Mining has take over written all over it. Here is the link the the corp. presentation that came out this month: http://www.belosun.com/files/Presentations/Belo%20Sun%20Presentation%20December%202012%20-%20Website_v001_i975p9.pdf
Bargains Buys
Carpathian Gold-CPN.to - will be a producer next year. They will be producing around 100,000oz/yr from their RDM Project-Brazil in 2013. But, the market isn't giving them any value for their project in Romania. But, Barrick Gold who owns shares of CPN does see value. This stock is trading around .30cents and is cheap. Romania could now be open to mining. Investors should watch Gabriel Resources close who is also located in Romania. Link below:
http://www.gabrielresources.com/documents/GBU_-_Local_Referendum_Release.pdf
Romania Project
Large Au-Cu Resource Base
- 7.19 MM oz Au & 1.42 Billion lbs Cu in the Measured + Indicated Categories
- 0.33 MM oz Au & 97.0 MM lbs Cu in the Inferred Category
Attractive project economics from 2010 PEA that is being updated with pre-feasibility study
- ~200,000 oz Au & ~50 MM lb Cu average annual production over 19 yr mine life (avg. 343,500 Au Eq ounces/year)
- Standard flotation process producing a saleable Cu concentrate
- NPV10% of US $1.1 Billion; 37.1% IRR (pre-tax) at US $1,450/oz Au & US $3.00/lb Cu (Based on 2010 PEA study economics
Another Bargain Stock that I mentioned in the beginning of this article is Goldcorp- G.to- it's been beaten down.
Here are the other Bargains: Perseus Mining-PRU.to has also pulled back to $2.38. - it's cheap and it's another company that could be on the radar of a major producer. Barrick Gold-ABX.to is trading close to it's 52wk low and I consider it a long term gold play. Alacer Gold-ASR.to could be turning around. They should be producing close to 400,000oz this year. The stock looks very attractive at $4.57. Aurico Gold-AUQ.to at $7.39 looks attractive. The company is sitting on a lot of cash and good be getting ready to make an acquisition. My biggest holding and the gold stock that I believe can give investors huge returns in 2013 is Kinross Gold-K.to. The stock has pulled back over the last few days. They surprised the market by beating the street. I believe we will only get good news from here on. Another one of my big holding is Osisko Mining-OSK.to. This company is getting no respect for all it's accomplishments. They are now a major Canadian gold producer and they keep making acquisition to grow their production. They will soon be a 1mil.oz ++ gold producer. I have been averaging down on OSK.to.
I wish I can mention them all folks but I can't. If you believe gold is going higher then these stocks will do well. Take your pick and hold on for the ride.
