AUM

[bryanmcn]

Golden Mineral jumped 20% and held today. I can't find any news. Does this mean a likely sell next week?

[Super Stock Picker]

Well,

It does not seem like there is an acquisition news anywhere.

It just seems that the stocks has been catching up today with the move it had yesterday on the US market (AUMN on NYSE).

See on this 5-day AUMN chart.

So, no reason to sell just yet.

[garilou]

Hi Bryan, Hi SSP,
Coming late in this discussion.
I have not posted for a long time! Takes too much time.
=====================

It was hard not to find the news!!!!

It was not an acquisition news, but there were bunch of important news.
Oct 6:
http://www.streetinsider.com/Equity+Offerings/Golden+Minerals+(AUMN)+Files+Common+Shelf/6019648.html

Oct 7.
http://www.businesswire.com/news/home/20101007006611/en/Rodman-Renshaw-Acts-Co-Manager-Golden-Minerals-Announced
The stock went down almost 10%

Oct 22, the public offering and Private Placement was closed.
A bunch of insiders "bought" ("Prospectus buy") at 18.50 USD Look at that big white candle on that day!


Now why that big jump on Oct. 11?
It was known that on Oct 22 it would be worth 18.50! Maybe people guessed it would go up after that day, what happened.
Now Bryan, I do not understand how we could say on Oct 12 "it held today", with that huge "red" volume!
Maybe SSP was right to say "no reason to sell", if he just looked at the TA.

Yesterday (Oct 27) the AMEX stock closed at 25.28, starting to show (to my eyes) some kind of top of the wave.

I would sell now!

Louise

[bryanmcn]

Thanks
I sold.

[garilou]

Hum...
I hope you sold at the end of the day, or else you might be mad at me.
The stock gained another 5.44%!
But there were pretty high negative volumes at the end of the session.

I know that you are purely technical, but I did a little more fundamental research today.
I don't know if anyone can interpret what's in this "Early warning Report":
http://www.sedar.com/GetFile.do?lang=EN&docClass=4&issuerNo=00028681&fileName=/csfsprod/data111/filings/01649658/00000001/z%3A%5CSentient%5Cewr%5C101022goldenminerals-sched13D.pdf
but there are strange things in those. like Funds and Limited partnership in the Caiman Islands...
How can a company share go from $3.00 to almost $30.00 in a 3 years, without ever producing a real (and audited) income statement (I'm not talking about profits!), and not declaring from where come the little revenues.
In their last annual statement, you can read things like:
"We have targeted exploration properties that potentially contain silver or other precious metals, including gold..."
And in the risk factors:
"We have limited experience managing mining properties for third parties and our mine management business may not be successful. "

Something stinks to me.

The shorts have been increasing since Sept. 15, the largest increase ever being reported on Oct. 15, up 203,300.
You know me with gold companies that operate in poor countries...
My own shorts could add up  I do not know when yet, but I am very patient.

Nevertheless, I am very happy for you if you made a nice gain on this one.


Louise