RE:RE:IMG shares worth 1.00
I think I did mention that Goldcorp paid a dear price for Probe, more than double per ounce than Letwin paid for Cote. So just thought it was worth pointing out that perhaps he is tied for the dumbest CEO in the space. I dont think IMG is the only gold company down 80%. Things could be a lot worse if they had zero cash right now. How many companies are sitting on $800M in cash. He could buy back a couple hundred million shares of this company and still have some left over. Bigger compnaies like Barrick and Goldcorp with their billiion dollar right downs have their own issues. The biggest problem with this company happened a long time ago when they had a chance to get Wheaton River, that was not Letwin at the time. Would be a different ball game right now. No one is going to do well when this industry is in a break even proposition....gold needs to go higher and if you dont believe it is then time to sell. I for one think if you can buy some time and by virtue of having cash on hand IMG can, then we will have our day. Here is another one for you to giggle at, just to keepp you healthy; gold will be at $2500 year end.