RE: RE: RE: RE: RE: WOW Jailtrader,
You could not be more wrong about Grant. There was a big group of us into this in march-april of 2009, grant was one of us. The problems here are real, but if you go back and look at what this stock did, for a time it was one of the best performing miners in the market, went from the mid 30s to nearly $5. Some of us did quite well here and continue to follow this because when it moved in the past it moved huge. IMO those days are long gone, why...will firstly they diluted the hell out of the stock acquiring second class deposits they had no business speculating on, poorly designed operation that required tons of money to fix, poor accounting, failure to meet debt convenants, poor metal recoveries, ultra high operating cost, huge admin overhead, etc.
If you look at the details here they are not good. Ended up costing nearly double to build mine, metal production is ultra high cost and way above projections, they have quadrupled the share count, doubled the debt, hedged metals, mined the high grade...YET THEY HAVE FAILED TO GENERATE ANY SIGNIFICANT CASH FLOW AFTER FOUR YEARS OF OPERATION. You can discount what long time followers of this company are posting, or you can be objective and understand a different perspective.
People posted all kinds of nasty stuff about me on this board when the stock was well over $3 and said I thought there was a really good chance (50/50) they would or could face bankrupcy if they did not raise capital, the stock still trended higher when they continued to fail to achieve any significant cash flow. They needed to raise money when this was over three bucks because of the problems I have stated here over and over, but instead of doing that they waited for the stock to collapse and raised money at 52-cents instead of $3.50. IMO most of the problems were due to the inexperience of management in nearly all aspects of running a mining company, the share price is where it belongs, the future is still in as much doubt now as when in peaked in early 2011 and everyone failed to see how much trouble this company was in.