RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Does anyone understand what Hecla's plans are for Rackla?It's all about sentiment. The environment we had circa 2011 (ATAC trading near $10) will return again. The markets are all cyclical. And, trust me, if we got anywhere near $10 or even half that, the wait would be worth it for those of us with an average basis south of 20 cents USD. I have to wait 10 years for a 25 bagger? Where do I sign up? Thank you sir, may I have another?!
That's the problem, these type of stocks are like land mines: nothing for a decade or more and then when the right trigger is hit it will explode. How in the world did Graham and company slave away for almost 20 years to build what they have and then "mail it in" near the end zone or at least when we'd be nearing the light at the end of the tunnel that the sentiment is starting to turn?
What a waste of time and energy and millions of investors' hard earned scratch. If you don't have the gumption to finish what you started (or cash out near the top), why take the first step? Sad really, that's my take on the whole situation.
Hecla likely will bring Rackla online at some future point, however, the benefits will be somewhat muted as Rackla is just another asset lost in the shuffle in HL's portfolio.
ATAC shareholders won't benefit much, Hecla shareholders won't benefit much. The ones who benefit will be the employees and executives at Hecla. Hecla keeps projects churning along to keep the execs and miners employed whilst throwing a two cent dividend to the owners in the meantime. The owners aren't getting rich, it is the employees who benefit from this deal.
At least with ATAC as an independent company, we had the upside from increasing gold price leverage and the perks of a buyout in the dollars range instead of the peanuts thrown at us from Hecla.
What is more shameful? The awful deal that Hecla is throwing at us or the fact that the BoD believes this is even a deal that should be considered for a vote?
The lowball offer was bad enough, but then HL plays their games to tweak the exchange rate even lower which means those of us wanting to exit at least at break-even now have longer to wait. First our optionality and upside is wrecked and now we are possibly taking a hit to our opportunity cost of holding HL shares longer than we would like to.
Sorry, but HL isn't an investment, it is a trading vehicle for day traders to profit off of. Anyone who wants to hold Hecla long term as an investment, I have two words for you: "Good luck".