RE: RE: RE: Nothing is not a Move It funny how perspective and interpretation get everyone all bent out of shape on these boards!! I read Capits post to say only the following. Forget about the last 15 years of FWM and then CS. From this point forward with all of the givens on the table, there is not a lot out there with the low risk GROWTH profile this company has period. The only thing that could set off the apple cart is an Armageddon like event, in which case, your money is hooped wherever it is.
From my perspective I agree. with Capit. I thought FWM would fetch more. I have taken money off the table with CS. While I believe Management should be exploring the Chile prospects they got for FWM a lot and mean alot more, I do not see anywhere else in the sector that I want to put my remaining CS money into. The delay in Santo Domingo, while is not position A, is a wise choice. For the short extra period it will take to get cheaper power(Approx 1 year) it is very economically prudent to wait.
Management continues to meet the street in their production numbers, so that shows operational competence to me. It also shows me that they are probably well in tune with getting Santo Domingo to the start line in an operationally efficient manner.
The main gripe on this board is managements in ability to move the stock price. Hard to argue that point that is for sure. While they certainly should shoulder some of this blame, markets have been very fickle and weird. They are hostage to sentiment in general in a big way. Detractors to CS also want management to deploy the cash sooner. Fair enough. They are spending some of it with a share buyback. In essence they are investing in a high growth profile company which is an excellent deployment. Unless there is another opportunity out there that is just as good, then I certainly don't want them to spend my money on it. Whether there is or not, until you are in the trenches examing all of the prospect very closely(i.e in their so called data room) you dont have a clue. They arent going to announce that they are looking at company A or Comapny B that is for sure. I for one just think that they have not found anything that is as good as an opprtunity as themselves. Why put Santo Domingo cash elsewhere unless it is as good as a growth opportunity as Santo Domingo. That makes sense to me.
I made a decision to take an appropriate amount of money off the table to go elsewhere. I made a decision that from this day forward that there is not a lot out there in the next 4 years with this growth profile. Simple as that. My CS money will sit until Santo Domingo goes into production or gets close to it. I wish management would explore this spectacular property more and for that I am very upset. It would not take a lot of cash todo so and it could yield a lot of shorter term sizzle. FWM had a lot of those prospects almost drill ready.
It certainly was not my plan to be tied up in this investment for this time as I am sure it was not Capits. How many investments go to plan. I did not plan for the subprime crash when we took our developments stateside in the few years preceding the fiasco but it happened. You deal with today and the prospects for tomorrow when you are investing cash. It has been said by many here. The simple solution for this investment for anyone if they are not happy is to deploy the cash elsewhere. There is plenty of liquidity to handle any of our shareholdings in a day. The reason no one does is the same reason I have some of my money still here. This company has an excellent low risk growth profile in the next 4 years.
molly