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drbubb

McEwen Mining (MUX) : 205,000 /yr. Gold miner (est.)

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Decided to jump out of this at 1.87, I had enough of the action.

I wonder if emotions have got the better of me here?

Anyway posting for the record.

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Great drill results

McEwen drills 24.4 m of 6.66 g/t Au at Gold Bar

2019-08-20 07:03 ET - News Release

Ms. Christina McCarthy reports

MCEWEN MINING: GOLD BAR UPDATE

McEwen Mining Inc. has provided an update on progress at various exploration targets on its Gold Bar mine property. At the Gold Bar South oxide gold deposit located 3.5 miles southeast of the company's Gold Bar mine, a program of 125 drill holes was recently completed. Twenty-five per cent of the new drill intersections were higher grade than the current resource average of 0.029 ounce per ton (one gram per tonne). In addition, several drill holes encountered significant mineralization outside the existing resource, including several notable intersections highlighted in the associated table. These results suggest that there is potential to increase the size of the Gold Bar South resource beyond the current indicated estimate of 3,488,000 tons at 0.029 ounce per ton (one g/t) for 100,000 ounces. Economic studies and permitting are under way with the objective of incorporating Gold Bar South into the overall mine plan this year, and having permitting in place so that open-pit development could begin in late 2020.

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Cleaned out (Sold) the rest of my MUX position at $2.04 and 2.07, booking a profit

This has been a dog until recently, and i decided i would look elsewhere

I still have a small position, SHORT on Puts, which is now in profit

(later):

Cleaned up those short puts too, buying back at a cheaper price than I had sold them

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booking a profit

You make it sound like it wasn't much of a profit. McEwen really fooled us good didn't he. Oh well.

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haha.

It wasnt.  I made maybe 10-15%

Had I bought on the lows it would have been much more

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Funnily enough I also made about 15% (measured against total capital deployed since I had to add).

I bought 36k shares at around $1.79.

I then added 28k shares at $1.30.

Sold off 22k shares as it rose between $1.5 and $1.7.

I was planning to hold the remaining shares beyond $2 but that third correction really got me.

My reasons for selling were that I feared insiders were offloading the stock that was placed at $1.55 earlier in the year, pointing to maybe less than stellar drilling and earning prospects.

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We cannot complain much, because we both made money...

And can move on to the next opportunity.  I am now looking at Copper shares

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CORRECTION underway.  More coming?

MUX ,,, update / Last: $1.78 +0.03

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Happy that I found the EXIT - mostly at above $2.00

MUX returned to its losing ways since then - Might take another look below $1.65

MUX / McEwen Mining ... all-data : 10yr : 5yr : 4yr : 3yr : 1yr : 6mo ... / Last: $1.63

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: 3yr : 2yr : 1yr : 6mo ... / Last: $1.63

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Ratio: MUX to GDX

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==

 

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McEwen Mining Inc.

Rob McEwen, Chief Owner & Chairman
NYSE/TSX: MUX

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MUX back on the Launch pad?

Not sure how much of a journey it can manage.  but i might buy some shares

MUX ... update : 10d / Last: $1.59

v8MCo3k.gif

I made money owning the stock last time, but it was a bumpy road

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On 10/5/2019 at 2:08 AM, drbubb said:

MUX back on the Launch pad?

Not sure how much of a journey it can manage.  but i might buy some shares

MUX ... update : 10d / Last: $1.59

v8MCo3k.gif

I made money owning the stock last time, but it was a bumpy road

Had a good start yesterday, well Dr B did you ? Stayed away myself.

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out of the markets, for a 2 day break. so... did not (yet)

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