Post by
arh0070 on Mar 07, 2022 9:05am
Harte
Harte is bankrupt and gone ,it ran out of money ,went bankrupt and the Mine was bought by Silver Lake through the accelerated Bankrupcy process supervised by a judge.Those shareholders who held on to the bitter end have lost all thier money ,sadly that is gone .
Investing in penny mining stocks is risky business .The only way to survive and prosper is to be diversified ,sell your losers and keep your winners in the knowledge that 20-30% of penny mining stocks will go bust ,you make the money back by finding the 10 baggers.
No amount of writing to regulators will make a bit of difference ,as has been the case for many years when a company goes bust the creditors are first in line and the stockholders last ,this is the way capitalism works .
I suggested some months ago that if you are a believer in the mine (I am)then the way to recover is to buy the new owner of the mine (Silver Lake),I did ,its a well managed company with cash flow and good management who had the foresight to accumulate cash in thier kitty (400 million)waiting for the right opportunity (it did).
Silver Lake is up 25% in the last few weeks so I am well on my way to recovering my Harte losses.Silver Lake is such a strong believer in its stock it is starting to buy it back(the company thinks it is a good investement)
Kirkland Lake basically did the same thing ,they purchased Fosterville for cheap ,discovered a great mine and made tons of money for shareholders (5 bagger plus).I am sure that the original owners of the mine weren't too happy about what happened but Eric Sprott was smarter.
For those that dont want to invest in penny stocks anymore ,and believe in gold ,I would suggest Franco Nevada ,it is a dividend aristocrat .When I first bought it a long time ago it was a dollar ,it is now over 150$ a share and who knows perhaps in 20 yrs it will be over 1000$ a share.