I said ain't cheap enough yet onceand I also said, I'll wait till it hits $1.30 or so. Well looky here.
I'm still not going to bite. I think this is probably near bottom though. Maybe 1.25.
I'd like to see some serious guidance from the company. Some 'all-growed-up-now' honest and reasonable guidance.
Admit your real production target for the year. It sure as hell isn't 280,000. That is crap. Put out an honest one. That would be number one.
Revise costs. They are going to come in higher than forecast. Admit it.
When shareholders browbeat a company into backing out of something,(and thats kind of rare) it means they were doing something blatantly wrong. Like profoundly obviously wrong. And they knew it of course, even before they tried to push it through. Transparent, selfish shortsighted greed, with a nice dose of gall. Dont bother explaining what you were thinking, or the new plan, or all that dreary crap. We understand greed well enough. Just this: tell us why we should trust you.
The stock is properly valued at the moment, but I just can't get myself to click the ol mouse. There is so much garbage still on the table.
Even the fact that in the not too distant future, one or both of the two older mines will need a revaluation and a writedown, as they are well past their prime.
There is also the fact that this thing is going to slowly and painstakingly climb, if it does. . They have a lot of work to do, and a lot of money to spend doing it. No blast off to profits here. $5 is ridiculous, a comical target. . Take a look at other producers in the 5 dollar range. There is no comparison. They are well short in reserves, operational costs, they are overdiluted, and the market prices the management down.
What an ugly story this has been. I got in at 2.85 and sold at 2.50. I figured it would go to about 2.30, and I'd get back in, and add on dips.
Gold is a mediocre play this year in general, and will most likely slowly drift down, as it has been. Costs are going up.Squeezed on both ends. It is critical to have a low cost producer if you want a gold position to be a good hold for the long term.
Capitalism at its absolute core is efficiency. How does HRG measure up?