Biosyent Positings

Biosyent is a bio-science company trading on the venture exchange under the symbol RX.V


Don't know much about the company other than what a quick look at their website and financials can give. Didn't research management history, but...they seem to be making money.


Funny enough, this company was brought to my attention by a post by PS Dave over at vancouver venture (read the post here) where he writes the company off as a typical V pump job.


I looked at the chart and, regardless of what they are actually doing, doesn't mean you can't make a few bucks regardless.

Now, there are a couple things I take note of. First, stock is still far above its 50DMA and the 10 day looks to be re-crossing below the price.

Second, the volume has been highest at the same price point, roughly 2.25, which the price has recently bounced off.

RSI (I've chosen a length of 10) is well below 30 on a strong down turn indicating that the stock is oversold.


I'll be watching Monday and possibly Tuesday for some further confirmation.

Sabina down

We saw sbb break down through a good support level of $1.00 last week and through a weak support level of around 94 cents (interesting how it bounced off that level and did make it back up to the 1.00 mark on a intraday high) the other day.


I don't usually include any indicators or oscillators on my charts but I want to point out that the two which I like the most for determining overbought/oversold don't give a lot of hope for a quick swing up. I'm thinking it will drop down to low 80s/high 70s before going back up. That being said, the Bollinger bands do seem to be tightening.


Of course, another thing to consider is that this breakdown was on relatively higher volume (yes, I apologize for the ellipse used to point out the classic volume pattern, but the semi circle wasn't working well for me) and the pattern is often indicative of renewed interest. Although, I have little experience with observing this pattern on a down swing (which I guess begs the question what I even bothered to talk about it...but maybe you know). That being said, we have seen these patterns on 2 of the three break-outs, although in less idealized form.


Another thing to consider is those fuckers from Dundee, who own like 11 percent of this thing, just like to dump shares these days, doesn't matter of what.

Predictions: I predict, based on absolutely nothing, that we will see price action somewhat mirror the price action which occurred in late June, although I predict that it will be on much lower volume and the price will drift down a bit further before going back up.

And, without much further a due here is the chart

 

Barkerville Gold get 15 Mill from Eric Sprott

Remember this company? The company who reported those phantom 10.6 million oz Au? You know, that estimate that no-body, not even the "qualified persons" could explain how it had been calculated.

The company who raised just over 1 million dollars, spent less than 20% of it on exploration and 60% of it on management/consulting fees.

The company whose CEO, Callaghan, paid over 6 million in fees to companies owned by him and gave his two kids a salary totally $52,000 between the two of them (his son got more than his daughter)

The company who then upon realizing they had no more money to give themselves did a 5:1 consolidation

Somewhere along the line they also got kicked off the V.


Its funny because basically, Barkerville is offering up everything and all for the loan. Which, as IWNATTOS asks, why not just keep the money? Sure, Sprott will be getting gold at a premium in this "Gold Loan Facility" but...does anyone know if they even have any gold?

Interesting to note that you can squander investor money for your own personal gain, lie about a resource, get kicked off one of the shittiest exchanges around, and still receive 15 mill from a respected name in the gold-bug world....

Yes, that's what I was thinking as well Rotoscoped Keane Reeves....


Well, read here and let me know what you think.


Further thoughts.....


The errors and thievery of this company is an old story, and many blogger wrote about it when it all came to surface. Barkerville Gold has served as a single example of greed on the venture exchange, but also stands as a grander metaphor of the state of the industry in itself. The regulators nor the executives who pollute this exchange do anything to ensure that their supply of funding continues on for another day. Whether it be the out of touch, non-reality based, regulations which have done nothing to stop the gluttony of greedy management, or the management themselves whose only aim is to see how much money they can get from the industry (before buying another house in West Vancouver) it doesn't matter. The fact is, they've dun goofed and fucked it up for a lot of us who really want to invest in junior resource projects based on their geological and economical merit. The Venture Exchange has become the Canadian Pink Sheets, and that was never its purpose.


They talk about a "cleansing" and it can't come soon enough.

Ginguro Exploration out with new results

I've been looking at this story a bit for a while. They have done some nice exploration work on a very interesting property.


Basically, they are calling it a Paleo-Placer deposit, in which an old placer deposit of gold mixed in with gravel/sediment which then hardens into rock. These types of deposits are typically higher grade and can be cheaper to extract. In this case, they are saying that the gold never solidified with the gravel/sentiment medium with which it is in, which (given an economic resource) would make it even cheaper to extract.


Granted, they are doing mostly sampling work right now...not the most exciting stuff as far as the markets are concerned.


I don't know as much about it as I would like, the team is a team of Geologists and has neglected the IR portion of their project a little (which is not necessarily a bad thing if you want to get in early), but I will be reading more over the reports as I find more time... Read news here.


This play reminds me a little bit of the Wingdam project that Omineca is under taking (eermm....trying) at the moment. Basically a buried stream of placer gold that was to deep for the gold-rushers to pan.

Interview with Greg Smith of CXB

I'm kind of holding the bag on this one, but I've liked it alot for a while now. Having lived/visited Nicaragua and talking to various people who work there (local alluvial miners, Australian geologist running little drills in the jungle, Canadian Geologists working for tsx companies) there is a hush-hush attitude about just how much gold there is.



Anyways, here is an interview with Greg Smith. Not an overly insightful interview, but I enjoyed it.

Listen Here

Readings for the Day

Honestly...I don't have much. Was busy most of the day.


Victoria Gold Receives QML - How long have they been waiting for this, it has seemed like for ever and a day (read here). Interesting project. Low grade, not bad IRR, good all in costs but a mother of a CAPEX. Where they will find the money without further diluting the, already diluted, stock will be interesting. I did a small write-up here a while back where I expressed my thoughts. Just as a disclaimer, I never ended up buying shares.


Torex Gold CEO on His Promises - I knew they had a decent project but it sounds like...they...delivered on promises...Odd. Here CEO Fred Stanford talks about finding a second resource on the same property, and here are some nice continued results.


JPMorgan to be fined upwards of 700million (for 6 billion in loses) - Its reading articles like that that remind me of how big some institutions can be, and what they can do. Just reading how much wrong doing there is in the article and how criminal it all is...wow. Read here

Sabina down through support

Bounced (roughly) off of support the other day but the upswing was short lived. As I had stated in a previous post, I was getting ready to re-enter but its descent down to the support line was with higher volume than has characterized the average volume of the last two months. For this reason, I decided to hold off as it didn't sit well with me.


The break was over the 3.5% I usually give as lee-way so it was another reason to hold off. I see some weak support at around 90 cents, but I'm not expecting alot. I've seen what happens when this stock goes below $1.00....PANIC TIME!

That being said, this stock responds to noticeable changes in the POG. A good day for gold usually means a good day for Sabina.


(Conjecture aside...what a bargain.

-Over 6 million Oz Au grading ~7g/t
-Permits in place
-positive studies, showing (iirc) roughly 540/oz all in
-In Canada
-Silver royalty worth hundreds of millions (22.5% of first 190 million Oz, 12.5% there after)
-One of the highest grading projects in the Americas not owned by a producer

All for $1.00. Purely on the specs, one of my favorite plays.



(PS: in their corporate presentations, they often provide a chart comparing other high grade project with 5+ million oz in the Americas and they don't use the Roman V when writing the name Pretium...yea, I'd feel stupid doing that as well.) )