Post by
kukaman on Jan 15, 2021 3:45am
Blasutti has hurt the future share price upside potential
considerably with his numerous dilution of shareholders in the past 12 months. The initial Capex of Relief Canyon was $28.2M according to the feasibility study. The funds raised in the past 12 months are more than double of this amount. Of course the Sandstorm financing should have been sufficient in the first place. It will take several years of production at Relief Canyon to earn back the money that was spend to bring it into production. Once this is achieved the remaining mine life will be very short...
Concerning Cosala it looks like a fresh face is needed to solve the situation...
Comment by
Moemoney42 on Jan 15, 2021 11:46am
I agree... I had thought by now USA would be making great headway and profits but here we are with another dilution... :-( Its been one mis-step after another sadly... Blassutti has lost all credibility and it will be years before this company ever makes a profit let alone buy back shares or offer a divi... sold some late Dec at $3.86 and wished I would have dumped them all.. :-(