Post by
StrikeGold on Dec 11, 2023 2:16pm
Valuation of assets versus performance
It's a simple matter of lack of confidence that management will deliver anything as promised. Doesn't even matter what the price of gold is or that they have an "almost producing" mine.
That is why the price is at 13 cents for all the shares anybody wants, which is very little. People buy in, and the next news release delays the production date and requires more money.
The Brewery Creek "deal" back a couple years ago only diluted shares and sunk the stock value because management couldn't get any leverage at all from having acquired it; it didn't even matter that Brewery had millions of gold ounces. They paid approx $40 million in shares only to get $13.5 million back out of it.