Can't believe this one is still breathing, albeit with helpI'll add my voice to the chorus. What a textbook study in poor management.
It didn't take a genius to look at the Carlin drillings and conclude it was so very deep, much deeper than surrounding finds, that the grades were going to have to be monstrous to make it attractive. But getting to that point was going to require huge bucks to drill those deep, deep holes. And out boys kept pouring the money, literally, down a rat hole.
Now, Rattlesnake Hills seemed to make sense. But I've ready where this was just a shot in the dark to try to show shareholders something while they waited for the Carlin homerun.
I've heard all the rationalizations about Rattlesnake Hills -- difficult geology, etc., etc., etc. -- but still can't figure out why they didn't do a better job of marketing that one.
Now we have a husk of a company, raising money at ridiculously low prices merely to keep the lights on, and the salaries going to our shabby management.
Like others, I've written this one off totally. I keep my shares to remind myself when something starts to wobble, sell first and ask questions later. Just wish I'd done that with this one.
I would not put one more cent into this. But for those who do, may your god go with you.