RE:RE:short history of some Castle Mountain analyst commentsLots of history I left out as just provided some highlights from some of my records. This was a past producing mining operation (about 10 yrs) from the 1990's that closed down due to low gold price in 1999 but the leach pad still produced for quite awhile after stopped adding muck as they always do. The project then was acquired in mid 2000's by Sprott & others which eventually got vended to Castle Mountain (CMM) after the public launch of the company. The public company was launched in 2013 with another property package originally that was vended in & merged with private company with capital. This is a brief backgrounder.
The original pitch was this would be a fast to market development project with most permits in place with value added work by new management that would culminate in being taken out in a medium term timeframe. Well this didn't happen as market went south fast in 2013/14 and this created some bad blood between management, BOD and investment firms looking for quick payoff from what at the time was considered a very saleable asset and this culminated in changes and major selling by those not happy a deal wasn't done.
This led to more management changes and at the BOD level in late 2014 and still more changes in spring of 2015 so the stock priced suffered more than most peers due to both poor market conditions and disruptive management changes. Markets don't like disruptive changes at the best of times but in a poor market they really don't like it even when the asset base is as good as with Castle Mountain project.
These changes have brought the company to this point and from what I see the corner should be turned for the better with new money, some serious legend types coming on board because they know this is a layup success story just looking for support and firm direction plus an exisiting management team that has been successful in the past. I expect very good things going forward for Newcastle as this gold bull market reasserts itself after a long quiet period.