RE: RE: RE: RE: RE: RE: RE: RE: Is TARM buying TRGThe big decline, in my opinion, is caused by Richard's over promise. He was telling people that TARM will generate millions of cash income PER month from gold production (from $3M to $8M per month) starting in late 2009. What happened to those gold production? No wonder the stock came down hard. Richard better learned his lesson hard, otherwise he will over promise again and again in the future as in the last.
He over promised about the JV nature of TRGD, only to see most of if not all of JV collapsed in shamble. Remembered that he waited for 9 months or so for JV TARM's properties only to see that even the agreement of JV failed to realize. And it turns out that almost all the value of combined TARM and TRGD came from that property.
I mentioned about the failure of JV of TRGD about two years ago, but many TRGD share holders did not agree at that time, and then one year later, even Richard said that almost all the value of combined TARM and TRGD came from TARM, all other properties amount to very small value at that time.
So, TARM buying TRGD is equivalent a rich boy buying a poor boy and paid a huge premium for it. Great deal?
People can do all the calculation, but the fact that some of TRGD values are simply estimates, and Richard's estimates were not accurate at all as evidenced in the past.
As I typed, TARM dropped another 2% at the open... I hold many shares of TARM, and followed TARM for a long time, but I am disappointed, and I am even more disappointed on TRGD. TRGD essentially collapsed as it could not executed its business plan. Take a look of TRE, another gold JV company based on roylaty. Look at what happened to TRE if you hold the stock for over 5 years. TRGD is a total shame if you compare it with TRE.