Jay Taylor, in the Nov. 14, 2014, edition of Gold, Energy & Tech Stocks, says sell Pelangio Exploration Inc., recently two cents. Mr. Taylor said buy eight times between Oct. 16, 2008, and Dec. 18, 2013, at prices ranging from four cents to 81 cents. Assuming a $1,000 investment for each of the eight buys, selling the $8,000 position at two cents would yield a loss of $6,888. Mr. Taylor reminds his readers of the phenomenal success Pelangio had developing the Detour Lake project in Ontario. After selling that project to Detour Gold Corp., the company acquired the Obuasi gold property in Ghana, which lies along strike the prolific Obuasi mine owned by Anglo American PLC. Mr. Taylor says Pelangio had some limited success exploring Obuasi's underground target, but then moved on to surface targets because of cost restraints. The company managed to outline 200,000 ounces of resource so far. Obuasi definitely has potential, says the editor. On the downside, Pelangio recently raised $600,000 to keep the lights on, but diluted shareholders by 7.8 per cent in the process. Like many of his other sell recommendations, Mr. Taylor sees more value in Pelangio as a tax loss rather than a hold.
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