John Embry
Thistle Mining
THT-T
DON'T BUY
Jun 29, 2004
Had some operational difficulties and have missed some debt payments. A high cost operation in South Africa and with the Rand being strong it is a problematic stock.
The high price of the Rand has been a problem. The pattern that is forming indicates it may be worth another look. There are some positive divergences.
A classic opportunity if 1) gold prices go up materially and 2) the South African rand is going to start weakening. Feels they will weather the storm. Speculative.
Has had a very rough ride. Has been in a long downtrend. They have production, but are based in South Africa and the strong rand has hurt them. Interesting to nibble on. Speculative.
A high-cost operation with some debt so they got into some financial difficulties. The Rand has hurt them. A pure speculation on higher gold prices and lower Rand.