After all that happened last week, I find myself wondering why our friend, brecciaboy, has not yet honored us with his presence - and I have TWO theories:
(1) After having educated us for so long, he is SOOOOO proud of all of us here on The Mining Play for ALREADY knowing the basics about short squeezes - and is proudly marveling at our posts.
(2) He just might be acting as a CONSULTANT to any one or number of principals involved in the GME short squeeze. Keep in mind, brecciaboy has testified before Congress (I think?) and has provided continuing education to lawyers and other financial professionals on the subject matter. This guy is no hot-aired light-weight - he knows his stuff, and we are PRIVILEGED to have his brain at our disposal. And he doesnāt have to act like a bully to make his points, as he is confident that he KNOWS his stuff. Period.
We sure do MISS YOU, brecciaboy - feel free to edify us at any time!
FREE ADVICE FOR GME: Declare a dividend as soon as absolutely possible, as the shorts will be FORCED to pay them. Seems like earnings have been trending downward over the last couple of years, but that needs to be fixed PRONTO and the dividend declared. The company has cash on hand - maybe considering its new found popularity (people are going to their stores just to support them against the establishment), maybe they have sufficient cash over and beyond their burn rate? GET TO IT!
As much as Iād like to see the GME short squeeze succeed, I will not be participating. If I did, I would ignore all commentary on it and trade the symbol absolutely devoid of emotion. Having been in situations very similar, my prediction is that there are going to be MANY bagholder longs supporting the ābuy and hold to screw the shortsā cause. Buy and hold has no impact at all when the powers that be can print all the shares they like (i.e. naked shorting). I was considering shorting GME this weekend in a Swiss account that would let me trade all the shares I like, but decided to sit it out and not get involved at all. Iām quite certain 100 shares short would eventually make me 5 digits to the left of the decimal. If you know people who are caught up in the hype, they have my empathy but I know all too well what happens. You might want to ask them if they personally know the Reddit posters who are telling them to buy their shares and hold at all costs. That is VERY BAD advice, imo, and personally I question their motives. (Theyāre either stupid or theyāre manipulating people for their own gain).
Iām still holdingā¦ 9 years later. Hoping for the best for all of us. Iāll never tell anyone to simply hold through thick and thin. Iāll also never fault someone for getting out.
Iām still holding as wellā¦ all 12+ million shares. I was experienced enough when I first got into MDMN to know what I was possibly getting myself into, but still too gullible and stupid to keep my emotions and desires out of the situation. I want the best for all the shareholders, and hopefully their averages are low enough that they make some profit or at least get their investment back. I would love that for myself, but canāt honestly say I expect it. I did everything wrong in how I handled this investment, which for me started out as a trade. I bought way too much stock. I didnāt take any profits and instead continued buying as it ran to .19. I didnāt take any profits as it fell from .19. Even now, I refuse to buy more shares to lower my average because I already have way too much money invested. I have learned countless lessons from MDMN. It gave me wisdom and humility and made me a much better trader and money manager. They were expensive lessons, but I brought them upon myself. Life goes on, and at least so does the investment.
If you recall Hot Chiliās property is a not dissimilar situation to the ADL, just some distance to the north, proven Copper / Moly porphyries, etc. Only a few years ago when copper was $2.00 more or less they tried to turn it into a āhigh grade goldā story but failed. They then returned to the copper content of the deposit and the rise in copper prices has helped them raise capital and move forward. Glencoreās investment is a big step forward.
Hot Chili has been mentioned recently by Rick Rule in an interview. They are trying to increase the resource size and tie together two slightly separated porphyry deposits. There are concerns about grades as the copper grades are more along the 0.5% lines instead of a more desirable 1.0%.
If you follow how much drilling, reports, work etc. have been done by Hot Chili over quite a few years you get a sense of how long it takes and how hard it is to move a major copper deposit forward toward construction via investment by majors. The ADL has a long long way to go on the copper front. If they have the high grade gold they think they do I think bootstrapping via gold production will turn out to be a good choice.
A year has passed since last posted in Charts for Metals and Stocks the long term charts for gold and silver ā¦ can return there to compare to the charts below.
Since 3 posts in a row on a thread isnāt allowed I posted here.
Double bottom in gold? Hmmm
Silver has shown strong resistance testing $22 three times and dipping below twice in the last year, first was in Oct. at $21.81 and then again In Dec at $21.96. More recently, earlier this month, it dipped to $22.28.
Both $Gold & $Silver are below their 200 daily MA, $1814.10 and $25.89 respectively.
There are a couple of lithium plays that are looking interesting. Anyone here in that space?
