CymorFund 10 Bagger Stock Pick – Sell EMED Mining (TSX-EMD)

CymorFund Investment Letter Stock Pick  – On March 17, 2013 I recommended EMED Mining (TSX-EMD)

 copper mine, Minas de Riotinto, Andalusia, Spain

Why Sell?

Today, the Board of Directors of EMED Mining Public Limited (TSX:EMD, AIM:EMED) announced that Company founder, Harry Anagnostaras-Adams has tendered his resignation as Managing Director and CEO of EMED Mining and will resign from the Board of Directors, effective immediately.

I don’t have the story behind yet, but it is bad news when a resignation of this sort occurs without warning or apparent reason,  For this reason it is time to exit this stock.

Sell EMED Mining (TSX-EMD) – $0.11

 

EMED Mining

This was a marvelous story. Against all odds, the founder Harry Anagnostaras-Adams  put together a land package that contained some very rich ore and a past producing mine, and successfully fought the many battles over a 7 year period to bring the project to this stage. When I spoke to Harry recently, he said that if he had known when he started this project 7 years ago, what he would have to face, he would never have taken on the project. It seems that the project has finally overwhelmed Harry.

Junior Resource Stocks

The junior resource sector has many rewards, but it also has its pitfalls. When a stock fails, one must bail out and accept the losses. There have always been stocks that didn’t perform, and there always will be stocks that don’t perform. If we pick more good ones than bad ones, we will do very well.

Sell EMD and look for the next winner.

 

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Views expressed are opinions and not investment advice. You should retain a licensed professional to guide you and  not rely on the opinions expressed herein. This report is neither a solicitation nor a recommendation to buy or sell securities. We are not a registered investment advisor nor a broker-dealer. The information contained herein is based on sources which we believe reliable but is not guaranteed as being accurate or a complete statement or summary of the available data.

By Larry Cyna

Mr. Cyna is an accomplished investor in the Canadian public markets for over 20 years, and has managed significant portfolios. He is a financing specialist for private and public companies, and has expertise in real estate and debt obligations. He has assisted private companies accessing the public markets, has been a founding director of public companies and continues as a strategic consultant to selected clientele. He is and has been a director, a senior officer and on the Advisory Board of a number of TSX and TSXV public companies in the mining, resource, technology and telecommunications sectors, and the Founding Director of two CPC’s with qualifying transactions in mining and minerals. He was an honorary director of the Rotman School of Management MBA IMC program, has completed the Canadian Securities Institute Canadian Securities Course & Institute Conduct and Practices Handbook Course, was a former Manager under contract to an Investment Manager at BMO Nesbitt Burns, a roster mediator under the Ontario Mandatory Mediation Program, Toronto, a member of the Institute of Corporate Directors of Ontario, a member of the Upper Canada Dispute Resolution Group, and the Ontario Bar Association, Alternate Dispute Resolution section. He obtained his designation as a Chartered Accountant in Ontario in 1971 and was the recipient of the Founder’s Prize for academic achievement together with a cash reward. He became a CPA in the State of Illinois, USA in 1999 under IQEX with a grade of 92%. He is a Member of the Institute of Chartered Accountants of Ontario and the Canadian Institute of Chartered Accountants. He holds certificates in Advanced ADR & in Civil Justice in Ontario, Faculty of Law, University of Windsor, certificate in Dispute Resolution from the Ontario Institute of Chartered Accountants. Previous accomplishments are Manager of Cymor Risk Consultants LP specializing in Risk Management Assessment; CEO of Cyna & Associates specializing in mediation and ADR; Founder & Senior Partner of Cyna & Co, Chartered Accountants, a fully licensed and accredited public accountancy firm with international affiliations; and was a partner in a large public accountancy firm. Mr. Cyna is well known in the Canadian Investing community. He is invited to, and attends presentations given by public companies usually 3 or 4 times each week. These presentations are intended by the various hosting companies to present their inside story to sophisticated parties and Investment Managers for the purpose of attracting funding, or of making parties more interested in acquiring shares of those companies. Being a part of this keeps Mr. Cyna deeply involved in the current market and leads to numerous investment opportunities.