Thursday, April 29, 2010

The Baidu market

Bidu is up $100 in the pre-market to$720. Look at Cramer's take. He's Blodgeting BIDU!

Jim Cramer's Blog
Daily “Booyahs!”
Baidu Is Too Inexpensive
6:18 AM EDT
Baidu could get to $2,000 and be only one-third the size of Google despite its gigantic market. MoreMore


And you want to be short this market, when they are waving the pom poms like that??


Anonymous said...

wow...the market has just been crazy...dow up 100 down 200 up 100....what's going on?

Anonymous said...

any new update on the Columbian company? stuck around 6 lately

Palmoni said...

Had the correction and now its over.

frustrated sellers turning over stock to new buyers. They are proving out a 43101-An example, Ventana had 12396 meters in their 43101 for a large property. So if you use turn drill and you go down 20-30 meters it will take you days for one drill results. With Sonic drills, you can do 40 meters per day per rig. So if you have 30 holes x 25 meters you are at 750 meters of results. In a smaller property, you'd need at least 120 holes x 25 meters =3000 meters of samples.

Then you need to send the samples to the lab. In the SEC filings, they have indicated that the results they have recieved so far are quite favorable, but you need a larger statistical sample for the 43101.

So it takes some time, and it takes money.

But if you look at the presentation, they have 21 properties in the public shell.

The data they have (historical) now that doesn't count,is very favorable. They are drilling next to Frontino, alluvial next to Mineros SA (5th largest placer gold deposit in the world) and Yamana Gold.

Now you have another 5X more properties in the holding company.

If you go to and check the 43101 of the companies drilling in Colombia, and where they are, and you line up their properties, you'll see how close they are.

The only reason I haven't put out the story is because I think back in February, Colombia had the concession to license and if you didn't pay by May 9, you would lose your area.

The next day, its up in auction, and the land is taken. Why help out somebody else?

The major gold companies will take anything available. I know a license that the Soveriegn Wealth Fund of China wants that they are absolutely salivating over.

Remember these rules were passed so that the big firms could get at the land that has been tied up.

Were any of the majors scouting Colombia in 2001, 2002, 2003 when you could of gotten killed or kidnapped, when they were snapping up thjose licenses?

So what is that worth. Say you spend over $40 million getting land in an area where you could get killed or kidnapped. Who would do that? Would anyone do that to make 5x their money? How about 10X? How about 100X? How about more?

That's really the story. It is a land grap in Colombia, but do you expect someone to tell the world that they have this place, which shows million of ounces in just one property from historical data that they own, that doesn't even have a security presence?

Anyway, I'll be out getting sloshed in Miami the next couple of days because of this:

So don't ask for any updates, until a few more weeks, and then I'll tell you what I've found out.

Anonymous said...

Anonymous said...

Hey Palmoni,

Just one quick question, that company isn't going to lose any properties by May 9th correct? It was just other companies right? Thanks for all the info!!

Anonymous said...

do you still see MPG running?

Anonymous said...

so when you say the correction is over...are you now buying again? you mentioend that you didn't want to chase at these levels.

Palmoni said...

I think the correction is over but so many of these high fliers --I just can't chase

I don't like how they look on the charts, but that doesn't mean the mo mo folks won't buy them

Darren Demers said...

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