Sean K Trading

[Garpal Gumnut]

I've decided to take some off the table until the dust settles with PMs. They've had such a huge run, I think there'll be some consolidation for a while. Silver looks like a false break out through $32.20 ish. And, I'm probably going to have egg on my face when they all run away to the moon.

Sold:
PDI +39%
ETPMAG +6.8%
PMGOLD +19.5%
GDX +39.3%

Gold and silver will go bananas now. Get on them!

Two achievements today @Sean K

• Peace of mind.
• A chance to get back in during what I hope is a consolidation in PM’s.

gg

 

[Sean K]

While I'm still very bullish copper longer term, HCH has just hit my sell point after I thought it had hit a bottom.

First bought this is July 21 and now sold all for a 39% loss. Was 5% of holdings so not good, but just 1% of overall position including cash.

Still might be a bottom for HCH and copper, but I'm just wanting to keep lots of powder dry.

Overall my experience with HCH has been extremely negative and once again related primarily to management. Lots of promises, but then changing goal posts and ultimately under delivering.

I'm not sure why Rick Rule likes this company and has invested in it, as one of his primary reasons to invest in anything in management.

 

[Sean K]

It was moving week last week. Took about 30% off the table, mostly PMs.

Thought it prudent to take some profits and tidy the house a bit.

PDI +39%
ETPMAG +6.8%
PMGOLD +19.5%
GDX +39.3%
HCH - 39%

I've got to stop buying losers, particularly loser management.

 

[houtman]

I've got to stop buying losers, particularly loser management.

Yep, it's the biggest lesson I've learnt over the years.

Similar to the nags, the best jockeys generally get the better horses.

Proven and competent managers get the better projects.
It's a good filter.

 

[divs4ever]

Yep, it's the biggest lesson I've learnt over the years.

Similar to the nags, the best jockeys generally get the better horses.

Proven and competent managers get the better projects.
It's a good filter.

but good management often gets replaced ( offered a better job elsewhere ) or 'refreshed '

 

[houtman]

but good management often gets replaced ( offered a better job elsewhere ) or 'refreshed '

Not often in the explorers.

Good management usually have brought the project to market and has skin in the game, so aligned with shareholders and want to see maximum return.

If they find something generally they'll get taken over, if they develop themselves then they usually(not always) have the wherewithal to attract good mine developers.

Of course, sometimes the project/theory runs its course without reward.

Anyway, not wanting to side track the thread.

 

[Sean K]

It's a snooze fest over here. Busy doing other stuff and not being very active.

Studying uni more than watching the tape (to use Mr FFF's terms)

Highlight of the week was my baby going to doggie day spa and getting a haircut.

Overall, up about 10% in closed trades and holding which is pretty crappy considering some of the opportunities out there.

 

[finicky]

What sort of seasoned investor/trader buys SSR or S2R? Woof woof.

 

[qldfrog]

What sort of seasoned investor/trader buys SSR or S2R? Woof woof.

seasoned investor/trader/gambler....

 

[Sean K]

gambler....

I bet you might be right.

Post count was down this week due to other commitments and distractions and wanting to see how things unfold with The Donald and Russia about to launch a nuke and China practicing for the inevitable blockade of Democratic China. The World is on The Brink!

Gold is unfolding OK so far. Took nearly everything off the table two weeks ago to see how it settles, and it's settling OK. Would like to see some more sideways chop chop action and some decent support established. The Israel v Shia premium might have come off now and settled with the chance of a ceasefire, but I doubt that's going to last.

Still nearly 80% cash.

 

[Sean K]

Still watching, waiting.

Gold consolidating nicely. The producers with no hedges and lowish ASICs are going to come out with some spectacular profits in the next couple of quarters with gold just hanging where it is. Thinking about jumping back in.

Unfortunately I was out of DEG when the inevitable TO came through. That was only a matter of time. Would have been better for holders with a cash offer and not script. Now just going to waiver with POG and NST price. Maybe Ignico come in with a cash offer.

Trying to check what might be next in the gold M&A world and the only obvious thing is PRU taking PDI, but West Af disruption might cause PRU to pause for a while until they've got some more confidence in the exploitation permit and the 'government'. Can't see what's likely in Australia.

Overall went down about 1% last week because of drops in FFM and SVM.

Updated comments.

 

[divs4ever]

i noticed uranium become a political football being played by irrational teams way back in the '70's

so avoided investing directly

my exposure to uranium is via BHP and have no plans to change that thinking

i thought SVL might have been gaining traction by now , i guess the strategy ( of two mines on the same resource ) is more complicated than first planned ( just like uranium another disappointment dodged )

 

[Sean K]

i thought SVL might have been gaining traction by now , i guess the strategy ( of two mines on the same resource ) is more complicated than first planned ( just like uranium another disappointment dodged )

SVL just need the mine approval to go through and it goes up 40%. I've got no doubt that the EDO and Plibosick will come up with another objection because of a blue banded fly mural at a Mudgee winery down the track, but it will eventually get approved.

 

[divs4ever]

SVL just need the mine approval to go through and it goes up 40%. I've got no doubt that the EDO and Plibosick will come up with another objection because of a blue banded fly mural at a Mudgee winery down the track, but it will eventually get approved.

but in my lifetime ? ( i have turned 70 , now )

the trouble is .. shareholders and investors are losing money via inflation as delay follows delay , and maybe patience as well

 

[Sean K]

but in my lifetime ? ( i have turned 70 , now )

the trouble is .. shareholders and investors are losing money via inflation as delay follows delay , and maybe patience as well

You'll crack the ton, so I think it'll get up before then.

 

[Country Lad]

Trying to heck what might be next in the gold M&A world ...................... Can't see what's likely in Australia.

I read a paper recently by Seneca Australian Small Companies Fund which looks for companies with T/O potential and the criteria they look for to find targets. Amongst the ones they identified were SS1, WC8 and RHI.
They had also identified DEG under their criteria and the paper was published after the T/O announcement, so they included their reasons for that one as well.

 

[outback]

SVL just need the mine approval to go through and it goes up 40%. I've got no doubt that the EDO and Plibosick will come up with another objection because of a blue banded fly mural at a Mudgee winery down the track, but it will eventually get approved.

Which winery? Asking for a friend.

 

[Sean K]

Missed out on topping up on FFM before a great assay result this am.

Still thinking about topping up MEI in the 9s, but I'm lacking conviction in rare earths at the moment. Need to do some more research.

SVL smashed due to a BS CR after they'd raised $30m in July and then cancelled it without notice. There must have been an escape clause in the original deal with Lundin and Rule that meant they could just change the game at any time. Us poor retail players can't compete with that. But, I've decided to roll the dice and piss some more money up the wall at ave 9.2c.

 

[qldfrog]

Missed out on topping up on FFM before a great assay result this am.

Still thinking about topping up MEI in the 9s, but I'm lacking conviction in rare earths at the moment. Need to do some more research.

SVL smashed due to a BS CR after they'd raised $30m in July and then cancelled it without notice. There must have been an escape clause in the original deal with Lundin and Rule that meant they could just change the game at any time. Us poor retail players can't compete with that. But, I've decided to roll the dice and piss some more money up the wall at ave 9.2c.

Joined you at 9.2c this morning

 

[Dona Ferentes]

Which winery? Asking for a friend.

the one that won't unionise.