After a july 4 vote, there is expected to be a big re-organiztion of the company. and a 1 for 7 share consolidation. The company will then own a large copper-gold-iron ore property in Brazil. What he liked on the chart was the extra volume and the price movement.
Gold and copper in South America with a little in Central America. (Spinout from Yamana (YRI-T)). Had some challenges operationally but only trading at about 40% of its NAV. Clean balance sheet. Expects there will be some corporate activity around this company and believes it’s a target. Target of $4-$4.50 in the next several months.
Gold with some copper assets in Mexico. Had some operating issues and bad luck in the last quarter with operations as well as starting up a new mine in Mexico. Costs have been very high. Also have to find a permanent CEO. Expect it will continue to underperform.
Had some execution problems in a number of their mines. Also recently lost their CEO. Since then, he has dramatically reduced his position. At some time he will increase his holdings but there is no rush at this time.
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