Capstone Mining (CS.to) up 11.4% at $1.27 is a star performer today. The good 3q08 earnings report coupled with the news that soon-to-be merged partner Sherwood has raised $37.5m by selling its Minto mine's life of mine PM production to Silverstone is the winning combo. Excellent volumes, too.
Another rising on good earnings is Telecom Argentina (TEO), which beat estimates and guided nicely too. The ADR is up 14.6% today.
Amerigo Resources (ARG.to, or AAAARRGH!!.to if you prefer) is the other side of the earnings coin. It made $1m+ in operations, but did the right thing and wrote down assets to the tune of $12.2m. This is because ARG.to holds sizeable percentages in DNT.to and LA.v, and both of those companies have seen megadrops in their share prices. This looks like ARG.to getting all bad news out of the way in one swoop, and I think it's cheap here. Costs will be considerably lower in 4q08 and in general terms it's a very well-run company. Today the stock is down 14% at $0.43.
Mercado Libre (MELI) back under $12. This is the place to buy some. I'm back to 100% cash again after selling the SLV yesterday, and right now this one is my idea of a quick trade. DYODD, dude.
Copper sunk under $1.70/lb today. That's not good, people. Not good.
UPDATE: FWIW bot a few MELI at just under $12. Small play and ST timeframe. I won't fret about holding thru the weekend.
Another rising on good earnings is Telecom Argentina (TEO), which beat estimates and guided nicely too. The ADR is up 14.6% today.
Amerigo Resources (ARG.to, or AAAARRGH!!.to if you prefer) is the other side of the earnings coin. It made $1m+ in operations, but did the right thing and wrote down assets to the tune of $12.2m. This is because ARG.to holds sizeable percentages in DNT.to and LA.v, and both of those companies have seen megadrops in their share prices. This looks like ARG.to getting all bad news out of the way in one swoop, and I think it's cheap here. Costs will be considerably lower in 4q08 and in general terms it's a very well-run company. Today the stock is down 14% at $0.43.
Mercado Libre (MELI) back under $12. This is the place to buy some. I'm back to 100% cash again after selling the SLV yesterday, and right now this one is my idea of a quick trade. DYODD, dude.
Copper sunk under $1.70/lb today. That's not good, people. Not good.
UPDATE: FWIW bot a few MELI at just under $12. Small play and ST timeframe. I won't fret about holding thru the weekend.