I have emerged from my hibernation to express an opinion that has been slowly entering my consciousness. In order to get my point across I need to ask you to familiarize yourself (in case you are not already) with the chart/price performance of Minefinders (MFN) through several years leading to its recent acquisition. Please ignore the 2008/2009 free-fall because fat tails eventually become irrelevant.

Frankly, despite its stumbles getting into production, MFN would be a best case scenario for TDC going forward, IMO, short of a frenzied gold mania like we had in 1980. Look at the price history – despite going into production, it’s been a big yawn over quite a few years. What does this mean? I think if you go back in history – like the 1970 through 1980 bull market – the juniors took off AFTER the big flameout in POG price appreciation, relatively independent of their previous mine performance. They are and will forever be the last to the party. But if you have ever seen a list of juniors’ appreciation at the stroke of midnight (1980 -1981), you will realize it just might be worth the wait. Big time factors of ten, hundred, even thousand. My recollection is that the best list I ever saw regarding this was published by Doug Casey.

I have been denigrated and insulted via PM recently by a board member here because I have chosen to reflect on what exactly is happening rather than get actively involved in the day-to-day board vs board antics. But I think my post here is critical to understanding exactly what is going on. The current management is buying stock like crazy to make a profit. Whether that profit is 50% or whatever from current levels or way way way more in years going forward is out of our hands but very much in theirs. But those are the cards we shareholders are dealt, and we have to play them. I personally see little downside and either a bit of upside or a ton. I hope the B & S contingent are well versed in gold miners’ history in the late stages of a gold bull market. That late stage is before us.

Be patient. And hope B & S are as well.

Strike