I decided to enter into trade #6 today with another momentum play. $LSG has shown a nice upward movement for several months, the above chart is the 3 month @ day chart. Yahoo shows the 3 month chart with a 32.93% gain.
The company seems to be doing well and is breaking earning records. Not much chatter on StockTwits however.
The position isn't huge, just 198 shares, but I wanted to ensure that I could have my 8% trailing stop in place from the very beginning should it collapse on me.
From a recent article on LSG:
Second Quarter 2014 ("Q2/14")
- Record production of 52,300 ounces, 70% increase from second quarter 2013 ("Q2/13")
- Record gold sales of 53,500 ounces, close to double the 27,600 ounces sold in Q2/13
- Cash operating cost(1) per ounce sold of US$556, 39% better than US$908 in Q2/13
- All-in sustaining cost(2) per ounce sold of US$784, 38% improvementfrom Q2/13
- Total production costs(3) of $32.5 million compared to $26.0 million in Q2/13, reflecting significantly higher volumes
- Cash and bullion increased $14.3 million in Q2/14 to $53.4 million at June 30, 2014
Six Months 2014 ("6M/14")
- Record production of 96,900 ounces, 79% increase from first six months of 2013 ("6M/13")
- Record gold sales of 96,500 ounces, 80% increase from 53,700 ounces sold in 6M/13
- Cash operating cost per ounce sold of US$585, 38% better than US$944 in 6M/13
- All-in sustaining cost per ounce sold of US$862, 38% improvementfrom 6M/13
- Total production costs of $62.1 million versus $52.1 million in 6M/13, reflecting higher production volumes
- Cash and bullion increased $19.4 million in 6M/14 to $53.4 million at June 30, 2014