Friday, 22 November 2013

Cook, Coffin & Kaiser in Discussion Nov-13

Jay Taylor in discussion with Brent Cook, Eric Coffin and John Kaiser.
short notes below.....

Compare to '97 bust - the stockmarket is favoured instead.
Credibility issue, failures of takeovers. Poor resources developed, lack of discovery.
Weak major balance sheets, only looking for high margin deposits. Lower grades higher costs, weaker real price of gold.
Like PGM metals but cannot identify good stocks.

Brent Cook - High-grading damaging resources, halting exploration and development, mining will need good high margin deposits, will be very valuable in 1-2 years. Management teams and cash to survive over 6months - 1 1/2 years. Majors must acquire the deposits that work.
B2 Gold one of best mid-tiers and Alamos. Likes Truegold low cost/capex.
Likes best Prospect generators.
Mining meets the new normal.

Eric Coffin. Large cash balances. May hold few projects . Agrees on Truegold.
Roxgold in Burkina Faso also.
When we come out of the bear market those with cash / working on projects will move first.
Market as a whole won't look like it's going anywhere while other companies fade.
Likes Silvercrest move to 4m oz silver.

Feasibility stage >1g/T - likes Midas Gold with Tech and FNV stakes, works at $1000 gold, market sceptical about permitting.
Discovery within a discovery - Probe Mines. 5m oz @ 1g/T discovery then new zone with high grade 1-1.5 M Oz @ 5g ? Underground?
Grassroots exploration, Nevada Exploration NGE, groundwater methods in Nevada.

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