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XMFSinchiruna (26.52)

An Historic Opportunity: CEF Dips Below NAV



February 20, 2013 – Comments (10) | RELATED TICKERS: CEF

Do you want to pay less for a share of CEF than the value of the reliably unencumbered gold and silver bullion sitting in its vault?

Today, for the first time -- I believe -- since the October / November 2008 precious-metals trough, you have the opportunity to do just that.

Lucky you if you have some cash on the sidelines! And while you're at it:

Endeavour Silver below $6 ?!?!?!

Pretium Resources below $9 ?!?!?!?!

Sandstorm Gold back below $10 ?!?!?!?!?!

No matter where the precise bottom comes in, this timeframe will be well remembered as one of the key entry points for participation in the secular bull market for gold and silver.

10 Comments – Post Your Own

#1) On February 20, 2013 at 1:26 PM, o1webdawg (< 20) wrote:

Looks like CEF was cheaper in May 2012.

I usually don't do this, but was wondering if you could quickly let me know if you have an opinion on AUNFF's share consolidation. 

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#2) On February 20, 2013 at 11:10 PM, o1webdawg (< 20) wrote:


Hi Sinch,


I've been following you since Feb. 2012. I was in a rush this morning. Sorry if that comment was too brief and seemed smug.  To clarify, it was the opposite.  I had to two humble questions.


 1.  I'm not technical so I looked up CEF on Google Finance and saw it is pretty close to all time highs.  So I assume you are factoring in the current prices of gold and silver and that is why this is such a huge value now, but wasn't sure.  I was hoping you would reply and explain a bit more.  I'm concerned about all the money I have sunk into miners and I'm not sure I understand why this is such a great opportunity if there is no clear bottom for Gold.


 2.  I am upside down with AUNFF, which I think was your #5 (if memory serves me) and was wondering if anything changed for you.  It seems like great news from them all the time, but the market just ingores it.  Now they are consolidating, but everyone's jumping ship for no good reason. Thoughts?


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#3) On February 21, 2013 at 10:12 AM, Jbay76 (< 20) wrote:

The AUNFF news is exciting indeed.  I started a post here so as not to hijack the focus of this thread.

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#4) On February 21, 2013 at 1:19 PM, tdonb (43.70) wrote:

Well, I am now a proud owner of EXK. They are lower than where I originally started watching them at, and I have always thought they got away from me.

And, how can I pass up on some Valley of the Kings? Did you see those pictures?

 Hope this slop down ends fairly soon.

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#5) On March 08, 2013 at 9:37 PM, skypilot2005 (< 20) wrote:

Interesting "read":

Mining Firms Discover Old-Timers Can Be Worth Their Weight in Gold

Senior Geologists Prowl Ant Hills, Boast Other Quirky Ways to Strike Riches


Wall Street Journal


According to the local mining lore here, senior geologists tend to do their work the old-fashioned way. They avoid radar technology, preferring instead to examine termite and ant mounds; they study vegetation and carry divining rods. They're famous in the often cutthroat industry for their efficiency—also for wearing neckties in the blistering heat.

"I only hire old geologists," says Norman Slater, managing director of Slater Coal, a South African coal company. People such as Kevin Petzer, a 65-year-old Zimbabwean who still roams South Africa, Mozambique and Namibia from his base in the KwaZulu-Natal province in eastern South Africa. 

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#6) On March 14, 2013 at 10:01 PM, skypilot2005 (< 20) wrote:

Sandstorm Gold Announces Resource Update at Luna Gold's Aurizona Mine Vancouver, British Columbia | March 14, 2013

Sandstorm Gold Ltd. (“Sandstorm”) (NYSE MKT: SAND, TSX: SSL) is pleased to announce that Luna Gold Corp. (“Luna”) (TSX: LGC) has completed an independent mineral resource update at its Aurizona Gold Mine in Brazil (“Aurizona”). Aurizona’s measured and indicated mineral resources now total 3.63 million ounces and inferred mineral resources are now 1.04 million ounces, a 15% and 44% increase respectively, from the December 2011 resource update.

The updated resource incorporates an additional 6,933 metres drilled at the Piaba deposit and 7,478 metres drilled at the Boa Esperança, Ferradura and Conceição deposits throughout 2012. A pit optimization exercise was also conducted for the Tatajuba deposit. Measured and indicated gold resources now total 82 million tonnes at 1.38 grams per tonne gold, or 3.63 million ounces gold. Inferred gold resources now total 18.5 million tonnes at 1.74 grams per tonne gold, or 1.04 million ounces gold.

 “The Aurizona gold stream is our flagship stream and today’s announced resource update represents additional value for Sandstorm shareholders,” said President and CEO Nolan Watson. “I want to commend Luna for their success to date and we look forward to seeing how the resource grows as exploration continues.”


Official Web Link Assistant to Sinchi 

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#7) On March 16, 2013 at 12:13 AM, skypilot2005 (< 20) wrote:

Sandstorm Metals & Energy Announces Terrex and Anterra Business Combination

Vancouver, British Columbia | March 15, 2013

Sandstorm Metals & Energy Ltd. (“Sandstorm”) (TSX-V: SND) is pleased to announce the completion of a business combination between Anterra Energy Inc. (“Anterra”) and Terrex Energy Inc. (“Terrex”). Effective March 14, 2013, Anterra acquired 100% of the issued and outstanding common shares in the capital of Terrex, in exchange for Class A common shares in the capital of Anterra.

In connection with the completion of the business combination, Terrex and Anterra have entered into a settlement agreement (the “Settlement Agreement”) with Sandstorm. Under the Settlement Agreement, the hydrocarbon purchase agreement between Sandstorm and Terrex has been terminated in exchange for the following consideration to Sandstorm:

a cash payment of $3.26 million by Anterra;

the delivery of certain equipment from Terrex having a value of approximately $3 million;

the issuance by Anterra of a $4 million principal amount, 5 year secured convertible debenture (bearing interest at 6% and convertible at $0.10 per Anterra Share);

the issuance of 20,801,303 Terrex Shares (which shall be exchanged for approximately 6.39 million Anterra Shares); and the issuance of 3 million Anterra Shares.

For more information regarding the business combination visit Anterra’s website at


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#8) On March 16, 2013 at 9:01 AM, skypilot2005 (< 20) wrote:




* * * Hecla Mining of Coeur d’Alene (NYSE: HL) earlier this month presented at the Emerging Miners Conference in New York City. CFO Jim Sabela reported the firm has found underground resources at its Star Morning and Noonday deposits and also a possible link between the You Like vein at the Star Morning Mine in Burke and the 30 Vein Trend at the Lucky Friday in Mullan. He noted at year end HL had $233 million in the bank… a $150 million credit line… and no debt.

It’s also reported that the Lucky Friday, closed for a year to correct MSHA deficiencies, is expected to start production again this quarter. The stock of this old timer has a 52-week range of $3.70 and $6.94 and is trading now at about $5.40 .




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#9) On March 17, 2013 at 11:01 AM, skypilot2005 (< 20) wrote:


March 6, 2013- Val-d'Or, Quebec, Canada: Metanor Resources Inc. ("Metanor") (TSX - V: MTO) is pleased to release an update regarding the current development of its Bachelor project.

Metanor produced 3017 ounces of gold in February, compared to 2 236 oz in December, bringing the total production since July to 13,128 ounces of gold.  The ounces produced in February come from 18,186 tonnes grading 5,34 grams per tonne recovered at 96,7%.

The average tonnage in February was 650 tonnes per day (Tpd) compared to 447 Tpd in January, and 275 Tpd in December.  The commissioning of new stopes allowed the company to deliver a steady flow of ore to the mill.

Furthermore, the company announces that it has been granted an additional three month delay before commencement of capital repayment of the Ressource Quebec (subsidiary of Investissement Québec) loan. Details are available at  The first payment will be made May 31, 2013.  


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#10) On March 18, 2013 at 10:40 PM, skypilot2005 (< 20) wrote:


High Grade Drilling Results to Expand the Resource at Grey Fox

Halifax, Nova Scotia; March 18, 2013 Brigus Gold Corp. (“Brigus” or the “Company”) (NYSE MKT: BRD; TSX: BRD) is pleased to report additional drilling results from its ongoing drill program at the 147 Zone, including high grade gold intercepts of 8.7 grams per tonne over 21metres and 6.2 grams per tonne over 25metres.

“It is clear that the Grey Fox resource is more significant than initially reported,” said Howard Bird, Brigus’ Senior Vice

President of Exploration. “These high grade drill results are located outside of our current resource estimate and will expand the gold resource on the Grey Fox property.”

Next quarter,the Company plans to release an updated NI 43-101 resource estimate on the Grey Fox property followed by a full feasibility study in Q3 2013.


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