RE:RE:Any idea why TMMI sold out most of my TGD today at a big loss. I still believe strongly in Ana Paula, but San Francisco is going to be worthless at much lower gold prices. That's why the price has taken such a big hit. I wish management had been smart enough to hedge out another year or so at 1350. They could have and should have done that considering the huge cash requirement for Ana Paula. Now they may have to finance the entire cost, at who knows at what rate, or suffer much more dilution. I'm really pissed off that they didn't. It was completely irresponsible not to do so. They just got greedy, which is bad management.
If gold recovers quickly from here, I will have probably made the wrong decision. I put the proceeds into Klondex, which I believe is nearly equally undervalued and is still very profitable even at 1100. Personally, I think gold will be taken down to 1100 before Trump takes office. I've now given back all of my former profits on TGD. There is no question in my mind that gold is on the verge of a huge move higher, but not until after a shakeout. I'm just trying to time the market, without leaving myself anything but fully invested in case I'm wrong about the temporary decline - which I often am.
I'm only posting this in the interest of full disclosure. So don't trash me too bad. GLTA