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XMFSinchiruna (27.98)

Barrick Gold Grasps for a Convenient Scapegoat

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June 07, 2012 – Comments (11) | RELATED TICKERS: ABX

Of all the ailments that Barrick has suffered, since Aaron Regent took over in early 2009 I don't think mismanagement was among them.

http://www.fool.com/investing/general/2012/06/06/barrick-gold-grasps-for-a-convenient-scapegoat.aspx

I had far more confidence in Regent than I do in any of the legacy leadership at Barrick that had a hand in generating the most disastrous gold hedge book in the history of mining.

What do you guys think?

11 Comments – Post Your Own

#1) On June 07, 2012 at 11:39 AM, XMFSinchiruna (27.98) wrote:

Just an observation:

Prophecy Coal (PRPCF) holds 22.5 million shares of Prophecy Platinum, representing a present market value of $50.4 million.

Prophecy Coal's current market cap: $55m

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#2) On June 07, 2012 at 12:31 PM, EGTalbot (< 20) wrote:

My guess is that it's a combination of needing a scapegoat and disillusionment with the copper play. One thing I would say is that the move does not speak well for the prospects for Barrick stock in the 6-12 month timeframe. 

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#3) On June 07, 2012 at 3:37 PM, EGTalbot (< 20) wrote:

regarding PRPCF, do you think its Mongolia exposure is one reason its non-PP assets are being valued so poorly?  Still seems like it has to be worth more than 5-8 million.

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#4) On June 07, 2012 at 11:23 PM, skypilot2005 (< 20) wrote:

http://www.financialpost.com/news/mining/releases/detail.html?id=6301

About Prophecy Coal
Prophecy Coal Corp. (TSX: PCY, OTC-QX: PRPCF, Frankfurt: 1P2) is an internationally diversified thermal coal production company that in November 2010 saw its first coal project, Ulaan Ovoo commissioned for production. The company controls over 1.4 billion tonnes* of open-pittable thermal coal in Mongolia (839 Mt measured, 579 Mt indicated) between 2 distinct deposits with power plant plans for its second deposit (Chandgana) well under way. Additionally Prophecy Coal Corp holds the Okeover Property (copper-molybdenum) and the Titan Vanadium-Titanium-Iron projects in Canada.

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#5) On June 07, 2012 at 11:32 PM, skypilot2005 (< 20) wrote:

http://www.prophecycoal.com/index.php

Prophecy Coal holds 22.5 million shares of Prophecy Platinum (TSX.V: NKL) along with the Okeover Property (copper-molybdenum) and the Titan Vanadium-Titanium-Iron projects in Canada.

Excerpt:

http://www.prnewswire.com/news-releases/new-coppermolybdenum-mineralization-intersected-at-okeover-highlights-include-397-metres-grading-0045-mos2-and-027-cu-within-63-metres-of-surface-57123497.html

 

the Okeover Copper-Molybdenum property on tidewater in B.C., 25 kilometres north of the City of Powell River. In 2006, N.C. Carter, PhD, P.Eng, completed a technical report on the Okeove Property pursuant to NI 43-101 that estimated an inferred mineral resourcefor the North Lake Zone of 86.8 million tonnes grading 0.31% copper(approximately 593,000,000 lbs) and 0.014% MoS(2) (approximately 15.9 million lbs of molybdenum) at a 0.20% copper cut-off grade.

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#6) On June 07, 2012 at 11:34 PM, skypilot2005 (< 20) wrote:

http://aris.empr.gov.bc.ca/ArisReports/30301.PDF

http://reports.standardandpoors.com/aidata/maccess/p/pcy_436781_bkgrnd.htm

 

http://metalsplace.com/news/articles/32495/randsburg-agrees-to-sell-80-of-its-vanadium-titanium-iron-project/

http://www.eastfieldresources.com/s/NewsReleases.asp?ReportID=525572&_Type=News-Releases&_Title=Eastfield-Resources-Provides-Corporate-Update

About Eastfield Resources:
Eastfield is a Canadian mineral exploration company focused on the discovery of large gold and copper deposits; it currently has projects in British Columbia and in Nevada. Current projects include a 40% ownership in the Okeover copper-molybdenum project with 60% partner Prophecy Resource Corp. (TSX-V: PCY).

Sinchi, thanks for the D. D. idea.

Sky 

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#7) On June 08, 2012 at 7:01 AM, skypilot2005 (< 20) wrote:

A "little more":

http://finance.yahoo.com/news/Prophecy-Trade-Toronto-Stock-iw-3843104014.html?x=0

http://www.reuters.com/article/2012/02/06/idUS179494+06-Feb-2012+HUG20120206

John Lee, Chairman & CEO of Prophecy Coal (TSX:PCY) and Chairman of Prophecy Platinum (TSXV:NKL) Interviewed by David Morgan of Silver-Investor.com http://investing.businessweek.com/research/stocks/people/person.asp?personId=84122921&ticker=PCY:CN&previousCapId=33230614&previousTitle=PACIFIC%20COAST%20NICKEL%20CORP

http://investing.businessweek.com/research/stocks/people/relationship.asp?personId=84122921

Sky

Official Web Link Assistant to Sinchi

 

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#8) On June 08, 2012 at 1:19 PM, XMFSinchiruna (27.98) wrote:

Wow, I missed that Copper Fox resource estimate release while I was in Texas last week. That's a sweet addition of silver to the mix! I added some shares this morning at $1.11.

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#9) On June 08, 2012 at 1:32 PM, eeibbay (< 20) wrote:

You mean this RE update?

A MEASURED AND INDICATED RESOURCE OF 7.1 BILLION POUNDS COPPER, 455.3 MILLION POUNDS MOLYBDENUM, 7.3 MILLION OUNCES GOLD AND 66.7 MILLION OUNCES OF SILVER AND AN INFERRED RESOURCE OF 2.9 BILLION POUNDS OF COPPER, 206.2 MILLION POUNDS OF MOLYBDENUM, 3.3 MILLION OUNCES OF GOLD AND 31.6 MILLION OUNCES OF SILVER

Yeah, I was very happy to see the silver finally included. They also did a webcast on tuesday to discuss the RE and more land claims. This is now archived at www.copperfoxmetals.com . Things are certainly coming to a head with this junior.

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#10) On June 08, 2012 at 2:37 PM, eeibbay (< 20) wrote:

Oops, sorry about the bold and caps. It was just a cut and paste and on review it didn't look quite so 'shouty'. Still, worth shouting about.....

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#11) On June 08, 2012 at 2:41 PM, XMFSinchiruna (27.98) wrote:

I've been shouting about Copper Fox since it was under $0.20 per share, and I intend to continue. :)

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