John Cornford

The even slower death of the stockbroker analyst – part 2

The even slower death of the stockbroker analyst – part 2

7 mins. to read

I started out on this series thinking I would ask where investors – private and institutional – will go for good research, given that regulation – particularly Mifid II due to come into force next year – is said to be causing brokers to lay off their analysts. This raises the question: What is good…

Does Mariana’s merger with Sandstorm Gold stack up?

Does Mariana’s merger with Sandstorm Gold stack up?

6 mins. to read

Among the four main ways to make money from mining gold or silver – exploration, development, streaming or financing a mine – it is streaming (or royalties) that can often be by far the most profitable. I showed in my earlier streaming coverage how streamers tended to make much more profit from a mine than…

Berkeley Energia – Another ‘Sirius’ mistake?

Berkeley Energia – Another ‘Sirius’ mistake?

5 mins. to read

Following my recommendation 15 months ago, followers saw Berkeley Energia (LON:BKY) nearly treble by January as more and more commentators jumped aboard and as the company issued a stream of bullish news on progress and prospects for uranium. But the shares are now 20% off their top and perhaps the market is satiated with a…

Where next for multi-bagger Solomon Gold?

Where next for multi-bagger Solomon Gold?

5 mins. to read

My initial recommendation for Solomon Gold (LON:SOLG) last March was based on a value of gold and copper ‘in the ground’ that its drilling was then targeting on just one part of its Ecuadorian Cascabel project, which looked – even at a conservative 1% – to be at least six times Solomon’s then market cap.…

There’s more to come from the miners in 2017

There’s more to come from the miners in 2017

8 mins. to read

The recovery in mining stocks took many by surprise in 2016. However, despite the renaissance, there is still a heavy weight of opinion against the mining sector. With this in mind, the contrarian in me is optimistic for continued outperformance in 2017. I know my writing here is too intermittent to update readers on investment…

Reality strikes at Sirius Minerals

Reality strikes at Sirius Minerals

5 mins. to read

Shares in Sirius Minerals have rightly suffered a major pullback over the past few days, and many private-investor enthusiasts for the stock have been badly burned. The trouble with Sirius is that there is a lot of questionable analysis out there in the public domain right now. Here’s my attempt at setting the record straight……

Kibo Mining – Why the punters have got it all wrong

Kibo Mining – Why the punters have got it all wrong

6 mins. to read

The key misconception behind the chat board ‘projections’  for Kibo MIning is a failure to understand the disconnect between a ‘project’ and the company ‘owning’ it. But this also stems from a failure to understand the concept of a project’s net present value (NPV). These commentators (and even the house broker’s headline – before hiding…

Coal-to-power – Still misunderstood by investors

Coal-to-power – Still misunderstood by investors

4 mins. to read

Here is an update with particular mention of where Kibo Mining and Ncondezi Energy have got to, and a repeat tutorial on how not to value such companies. If their projects go ahead, either company could see their shares reach a few multiples of current levels. By how much isn’t easy to determine, especially for…

Why I’m buying into SolGold’s spectacular ascent

Why I’m buying into SolGold’s spectacular ascent

2 mins. to read

My taking a profit on a small proportion of my stake in SolGold after its spurt to 12p following Newcrest International’s offer to buy 10% at 6p per share is looking silly now that the shares are touching 18p – after what looks like a mini-buying stampede today. And after dithering when to get back…