The action around the three-way takeover tug-o-war that started today is interesting. As you might have expected, Central Sun (CSM.to) (SMC) is having a rocking day up 40% at U$0.51 on strong volumes in the USA (it's a supply and demand thing, ya knowz). Linear Gold (LRR.to) is down 15.6% at C$0.92 on the news that somebody else wants to swipe its low-hanging fruit. But the most interesting one is B2Gold (BTO.to) up 2% at C$0.52, which is the market's way of saying "nice move, dudes".
Another company getting plaudits is Freeport McMoRan (FCX), up 3.2% at $25.75. Considering that FCX closed under $23 last week before the operating profit and U$13Bn write down was announced (not to mention the weakness in copper today) the street's reaction has been very good indeed. Deservedly so.
Jaguar Mining (JAG) (JAG.to) down 6.1% at U$5.69. I thought I'd made a boo-boo by selling too early as I watched JAG skip and fly over $6 yesterday, but today it's come back to almost the exact point where I took profits last week. I like this company and still have it at the top of my list for takeovers. If it drops I'll buy back, no worries. Solid financials. DYODD.
Colossus Minerals (CSI.to) down 4% at $1.65. This thing made a massive move yesterday. I'm not sure why, but it had the hallmarks of a reco by one of the larger newsletter writers. There is no way in the world I can recommend this stock. The rocks are very pretty but the political situation is dire. DYODD, but this one is not for me. Don't buy, don't sell, just avoid.
Great Panther Resources (GPR.to) down 1.3% at $0.375. GPR.to shot up yesterday on this news, a write-it-for-retail special that could also be called "a golden opportunity to get out while you can". No cash at bank, a failed private placement recently and guaranteed losses while spot silver is where it is. In the words of Monty Python's Holy Grail, "RUN AWAY RUN AWAY!"
Gold Hawk Resources (CGK.v) at $0.02. For a company supposedly staring bankruptcy in the face, it's holding out very well. This is because people are beginning to work out what Auramet is up to here. Once you do, you see that CGK.v is unlikely to go to the wall (it's that supply and demand thing again, ya knowz). Check out the latest PRs from NWI.to for more details and DYODD, dude.
Another company getting plaudits is Freeport McMoRan (FCX), up 3.2% at $25.75. Considering that FCX closed under $23 last week before the operating profit and U$13Bn write down was announced (not to mention the weakness in copper today) the street's reaction has been very good indeed. Deservedly so.
Jaguar Mining (JAG) (JAG.to) down 6.1% at U$5.69. I thought I'd made a boo-boo by selling too early as I watched JAG skip and fly over $6 yesterday, but today it's come back to almost the exact point where I took profits last week. I like this company and still have it at the top of my list for takeovers. If it drops I'll buy back, no worries. Solid financials. DYODD.
Colossus Minerals (CSI.to) down 4% at $1.65. This thing made a massive move yesterday. I'm not sure why, but it had the hallmarks of a reco by one of the larger newsletter writers. There is no way in the world I can recommend this stock. The rocks are very pretty but the political situation is dire. DYODD, but this one is not for me. Don't buy, don't sell, just avoid.
Great Panther Resources (GPR.to) down 1.3% at $0.375. GPR.to shot up yesterday on this news, a write-it-for-retail special that could also be called "a golden opportunity to get out while you can". No cash at bank, a failed private placement recently and guaranteed losses while spot silver is where it is. In the words of Monty Python's Holy Grail, "RUN AWAY RUN AWAY!"
Gold Hawk Resources (CGK.v) at $0.02. For a company supposedly staring bankruptcy in the face, it's holding out very well. This is because people are beginning to work out what Auramet is up to here. Once you do, you see that CGK.v is unlikely to go to the wall (it's that supply and demand thing again, ya knowz). Check out the latest PRs from NWI.to for more details and DYODD, dude.