I am sorry simplicity...But I have been going over my past notes and I can't see where you see that I said and claimed to "have the market cornered on logic or objectivity."
Would you be so kind as to find this and LINK this, so everyone here, as well as me, can all see were I made such a claim. Or is this only your misguided perception of what I have said here all along, and just like it has been with you on this stock.
So simplicity, you claim you are in the business of speculation Okay, I will buy that. You also claim you "chose this equity because of it's speculative upside was quite high given what you understood from your personal due diligence, as to its properties and operations." Okay, I buy that to as this is also in line with my way of thinking.
But you said you would rather role the dice on this stock and gamble, and I said I wouldn't. Here is where we differ simplicity, but you are welcome to do whatever you want with your shares, and I don't hold that against you, just because we do not agree on this point.
But since you claimed that I claimed to have the market cornered on logic or objectivity, which I didn't, and if you don't mind, lets put to test your so called due diligence, logic, objectivity, and speculative skills.
Up until this Sino Gold takeover bid was announce, which everyone here will agree bumped up our recent share price to our last closing price of C$1.20, the last time this beautiful stock saw a closing price as high as C$1.20 was on January 24, 2007.
In fact, and since you would already know this through your due diligence simplicity, out of a total of 190 trading days, since we first started listing on the Main TSX, there has been only 22 days, not counting yesterday, in which this stock closed at, or above, C$1.20. I Repeat! There has only been 22 days in which this stock was at, or above where it is at now!
That means to me my friend is that if you did your due diligence, and speculated correctly, you had 168 days to buy this stock below it's current value. You also had ample opportunity and time to buy this stock in June when it was trading at C$0.58.
So did you? Because had you done that simplicity you would have had a double on this stock today, and in only 3 months, and that my friend is a Grand Slam Home Run in any speculators hand book.
So please don't try to feed me that crap now that you expected more from this company because it was you who failed. If you had the knowledge, and nerve, or even just listened to me back in June, you could have invested a lot more money in this stock then, and today see a huge profit. You could be riding this stock for free, like I am. So I don't think my advice here was bad advice. Do You???
But how quickly things change. Instead of buying hand over fist in June, at C$0.60, you now think this new deal sucks at C$1.37, and you now want to go this all on our own.
Or maybe try and get a better price now, and make them pay more, even though you could have bought all the shares you wanted at half this price, but didn't. You obviously didn't think this stock was worth even C$0.60 then so it is strange to see you calling for a higher price now. But who really made the mistake here simplicity? Our Management, or You, for not picking up more cheap shares and as I suggested back then?
You differ than me simplicity and that is okay by me. You can hold out as long as you want and wait until they come to your house to take your old and crumpled GCX Shares away from you, for new shiny Sino Gold Shares.
But what gets me is how soon people here forget the bad times, and how we suffered in a deep hole, when after the first sniff of some really good news finally hits them in the face.
From you post you said simplicity that "just as gold is about to bust out from its 18 month holding pattern... the BOD gets nervous and accepts the first offer that comes along."
Well, that is not exactly true simplicity. You see simplicity this merger takeover was announce on August 13th, when gold was at $665, and although all us gold bugs felt gold would surpass $700 one day, none of us knew when or really expected it in September.
How many times in the past have we seen $670, only to have a Central Bank, like Spain, or Switzerland, dump a pile of gold on the market and kick the living daylights out of the gold run-up? So to suggest this company knew exactly in June, that the price of gold would exceed $700 when it finally did, is just simply ridiculous.
But even then you make this sound like bad news because of this Sino Gold / Golden China Merger. Let me explain something to you simplicity. When this deal was officially made, August 10th, Sino Gold was trading at A$6.40. At 4.5 to 1 exchange that means we were originally offered A$1.42 per share.
When the Support Agreement was actually signed Sino Gold was trading at A$5.97. That then meant that our offer per share price dropped and we would have been offered only A$1.33, if this deal closed on that day. But it didn't.
So what do you suppose happens now, if the deal closes and Sino Gold is at say, A$7.12, and what it closed at on Friday? They would then have to pay us A$1.58 per share, don't you think. So we are not losing out on this higher gold price now, are we?
But then many here are claiming we would be doing better, on this recent gold price increase, if we were on our own. Were they get these crazy ideas from nobody knows. But hey, lets see if this is even partly true. Let's go back in the history of this stock and company and find out.
On December 18/ 2006, our first trading day on the TSX, we closed at C$1.44 and Gold closed at a price of $614. On June 11/ 2007, Gold Closed at $650.30 and our stock closed at C$0.59. Hey, what is wrong with this picture? Gold increased over $36, or about 6% and our stock dropped 244%! I repeat! Our stock dropped 244%.
This is not ancient history simplicity but only 3 months ago, and just while this present deal was being sowed up. So please don't tell me now how well we were doing, and would do on our own, and how much we are losing by this present gold price increase.
I have seen this stock suffer and down 244% on higher gold prices, excellent drill results, good long term concentrates contracts that would double our income and our BioGold Plant, good financing, and a successful merger with a good company, and I can say undoubtedly that the only reason we are up to were we are today, and not down, is because of Sino Gold. Without them we would still be trying to claw our way out of that deep bottomless pit.
Plain & Simple!
GB