Stock Picks: Time to buy LC stocks!
August 27, 2009-We are looking forward in buying some shares of Lepanto Consolidated Mining Co. (LC) as the price is ranging from 0.27 to 0 .29 this week! It will be a buy signal if it’ll go down to .26 or even at .27. The highest price LC has reached in a 30-day period is 0.32 and it’s lowest is at 0.175.
Buy LC shares now! Board lot is 10,000 shares. Target to sell LC shares at 0.40!
BUSINESS PROFILE
Lepanto Consolidated Mining Company (LC) was incorporated in 1936 and operated an enargite copper mine until 1997, after which, LC shifted to gold bullion production through its Victoria Project. LC also operated a copper flotation plant from August 2000 to December 2001, and restarted it in late 2006. LC sells its gold and silver bullion production to Heraeus Ltd. (Hong Kong) while its copper concentrate production are sold through Trafigura Beheer B.V. Amsterdam and Shanghang County Jinshen Trading Co., which are metals traders based in New Jersey, USA, and Fujian, China, respectively.
LC and its subsidiaries are involved in other businesses such as hauling, diamond drilling services, insurance, and manufacture of diamond tools. LC has two Mineral Production and Sharing Agreements for areas located in Mankayan, Benguet. The company’s subsidiaries are Shipside, Inc., Diamond Drilling Corporation of the Philippines, Lepanto Investment and Development Corporation, Diamant Boart Philippines, Inc., and Far Southeast Gold Resources, Inc.
Source: SEC Form 17-A (2008)
Happy Trading!
Hi ! Great site. LC is not a great buy. It has never been a great buy. I don’t know what the technical traders are thinking but if you look at the Financial statements, they have been incurring negative income for several years and the ROE they give to shareholders is way to low. No matter what the rumours are about LC (About it being taken over by MVP etc.) I wouldn’t buy it or recommend buying it. From a value investing stand poing it’s not a great buy. Warren Buffett wouldn’t buy it and I wouldn’t.
Just some tip 
1Hi Guerilla Investor: Thanks for your take on the LC stocks. I already sold my shares on LC.
2