Lake Shore Gold – CymorFund Stock Pick Update

Cymorfund Stock Pick  – Lake Shore Gold – Update

Ingots gold

Stock Picks    

On Jun 27th, 2013 CymorFund picked Lake Shore Gold (LSG) as a potential 10 bagger. To quote that pick, “We pick stocks with a HUGE potential. These stock picks can have a 10 Bagger potential. If you pick the right stock, the rewards can be enormous. Lakeshore Gold  at $0.26 is a potential 10 Bagger.”

Third Quarter Results Were Released as Follows

Third Quarter 2013

  • Cash operating cost(1) of US$701/ounce, a 31% improvement from third quarter 2012 (“Q3/12”) and 23% from second quarter 2013 (“Q2/13”).
  • All-in sustaining cost(2) of US$1,027/ounce, a 46% improvement from Q3/12 and 18% from Q2/13.
  • Average grade of 4.7 grams per tonne, 34% higher than Q3/12 and 9% higher than Q2/13.
  • Gold sales of 32,300 ounces, up 58% and 17% from Q3/12 and Q2/13, respectively.
  • Production of 28,900 ounces, up 38% from Q3/12 and versus 30,800 ounces in Q2/13.
  • Earnings from mine operations of $7.6 million, nearly triple the $2.6 million in Q3/12.
  • Net loss reduced to $1.7 million from $10.8 million in Q3/12.

The Release is exactly in line with  our recommendation.

 

Is Lake Shore Hold Still A Pick

Today Lake Shore Gold (LSG – TSX) closed at $0.415, which is a 60% gain.

For those that are happy with this type of increase, you are free to do as you wish. We think that

  • Gold is still in the doldrums
  • Junior gold producers remain dramatically depressed in price
  • The efficiency and reducing cost of LSG production is continuing

We think LSG has lots more potential.

Hold Lake Shore Gold at $0.415

 

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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.