Bill CarriganMinco Mining & Metals CorpMMM.VDON'T BUYDec 06, 2006
Looks good technically, however, it is a thin trader. Doing a bid to buy back shares, which annoys him. He prefers companies to use their money for capital expenditures. Would prefer Silver Wheaton (SLW-T). Likes the outlook for silver.
Controls Minco Silver (MSV-T) and will be spinning out its base metals. Well cashed up. If you take away the silver and cash, it is trading at next to nothing.
Had a huge base between 2000/2003. It rallied a bit in 2003 and then stayed in a secondary base. These kind of formations usually have huge upside targets. This has now broken out of the secondary base that may be a little bit ahead of itself. Buy on any pullback.
Low price stock and it is in the mining area. Good place to be. Right price to be in. Gold stock and it is speculative. Good potential to be heading higher. Average cost that he has paid was $1.89.
Has not been a good performer at this year because they lost their CEO and went through a period of getting a replacement. They now have a replacement and that is why the stock has gone up. Probably a good time to be buying into this area.
(N.B. He is a director/founder of this company.) The largest serving foreign mining company in China. Has some very good properties. Significant gold and silver assets along with other ores. Very cheap.
Restructuring. Expects the junior exploration sector to be broadly lower this year, so would look to establish a position in August and increase the position in December.
Most undervalued China play and problem may be a need for a stronger management team. Certainly has the asset base. In a more reasonable gold environment, the assets are worth at least twice the current stock price.