GREY:TWNNF - Post by User
Comment by
gamblor77on Aug 25, 2011 7:48pm
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Post# 18980554
RE: THIS HAS TO BE SAID!!!!!!
RE: THIS HAS TO BE SAID!!!!!!No THIS has to be said -- GLD was at .20 cents and was not showing ANY signs of life before TRR made the offer. The situation is very twisted and intertwined but the ONLY reason GLD went up to .40 cents is because TRR made the offer, not because it's such a well run company with so much to offer.
Trelawney made an offer which was 40% above the current GLD value. Yes it's a bit of a shame that GLD dropped to those levels I agree but if management had not been so shortsighted and drilled the Cote Lake portion of GLD's property maybe the SP would have stayed higher, so you judge which management is incompetent. Plus 40% is still a hefty premium for any offer, just because the GLD shares have somehow risen above the 40% premium (on hype) doesn't mean the offer was a total stink bid. What did you expect for a run of the mill junior company, a 500-700% premium? For WHAT?
How the GLD shareholders have somehow ballooned the company into being worth many dollars and saying TRR is ripping them off is beyond me. The stock NEVER traded over .65 cents and there are no real catalysts (other than the TRR offer) that were going to make it go back to .65 any time soon. You xhow me several months of consistent hundred meter intervals of quality rock like TRR pulled off and I'll eat crow and admit GLD is as good as some people say. Otherwise I'm sticking to my initial thoughts and people can be pissed off at me and whatever but I'll feel better knowing I said what I had to. Yes I'll admit I'm bitter at GLD but only because I bought into the hype and lost money on their BS management. They were supposed to drill Cote Lake and decided to pull a bait and switch at the last minute after letting the shareholders hang for several months and that really pissed me off. Reminds me of another scam I invested in called Bayfield Ventures which has a very similar "area play" situation with Rainy River.
I guess we'll see how this plays out next week but TRR has several million ounces so they aren't going to $3 anytime soon, if they do I'd be re-mortgaging the house and loading up.
GLTA,
Gamblor.