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Weekend reading

November 18, 2011 Leave a comment Go to comments

The Credit Card killer: Could this 28 year old kill the credit card business?

Profile of Cara Goldenberg: The letter, to Taro’s BOD, from Permian Investment got me interested in learning about Cara Goldenberg.

Take this Lollipop: The fastest growing Facebook app

Graham and Doddsville Newsletter: Always a good read

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Categories: Reading
  1. bob
    November 22, 2011 at 11:48 am

    you still holding onto yukon? what are your thoughts at this point going forward on the company? thanks in advance.

    • paras
      November 22, 2011 at 11:57 am

      I think for YNG you have to wait to see results. Mgmt can say whatever they want but until we see results it doesn’t mean anything.

      The recent CC was good. Mgmt said they expect to have a run rate of 175K oz production in 2012 (previously they were saying 150K oz), the cost of production should drop to mid-$500/oz (i think we see this in late 2012), and management is working on getting the company listed on AMEX in Q1 2012. All these sound great and if management can execute it should be very good for valuation. You have to wait until Q1 results are reported, likely May ’12, to get a sense of how the company is performing.

  2. bob
    November 28, 2011 at 9:10 pm

    yukon nevada is indeed a true test of patience. at this point, keeping the faith in baldock and company.

    • paras
      November 28, 2011 at 9:30 pm

      All investing is a test of patience. Unlike investors that see changing numbers on a daily basis, businesses do not change much on daily or monthly basis. People have gotten impatient w/ this investment.

  3. bob
    December 1, 2011 at 6:24 am

    true, although it appears as if baldock just stated at the metals conference that yukon is short another $40 to $60 million and will ask deutsche to finance according to someone in the comments on mariusz blog that attended. have yet to see these guys really deliver yet – but patience is indeed required. any idea on baldock’s success with previous companies? thanks in advance.

    • paras
      December 1, 2011 at 10:03 am

      this management team has left much to be desired. i’ve personally set a May 2012 (when q1 results are reported) to be my timeline to decide on this company. i want to see what management has done by then.

      $40-50M isn’t that much money. that might mean more dilution, so need to see what the deal is going to be. mining is a tough business. very capital intensive. management’s flip-flop is worst then presidential candidates.

      i’m going to wait and see what happens in the next few months.

  4. bob
    December 2, 2011 at 10:43 am

    yeah, mariusz put together an excellent writeup, but this safety watch hiccup and the incorrect bolts on the dryer issue indicate that the drama may not be about to end per the title of the post. i have learned a lesson – investing in mines is really not worth the stress in my opinion- too much unpredictability relative to the physical plant itself.

    • paras
      December 2, 2011 at 1:49 pm

      Yes mining is a tough business to be in. it is Capital intensive, huge regulation issues, pricing uncertainty, dilution risks and then the unseen risks. YNG always had many risks. Some have gone well for the company and others have been a disaster so far. Management has been very bad at communicating and showing they are on top of these issues. Recent insider buying is a good thing but it doesn’t mean you should blindly follow them. You have to think through the risk/rewards of investing. In this market there are many opportunities, so you have to consider what else is available. Good luck to you.

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