A Bit Disillusioned Holy smokes,
I've been very tough on EQT at times and I've been a staunch supporter at others because I'm a shareholder and I have an opinion.
I must tell you that this latest dilution out of nowhere is a real head scratcher and I'm kind of disappointed that we keep getting the living f**k diluted out of us.
Honestly, at this point I'm becoming a bit disillusioned with these guys and and at this stage with so much work needing to be done before we'll ever get the benefits of gold production. I suspect we'll be at or above 300 Million shares outstanding before we really have anything to brag about in cash flow and even then it will be small.
Additionally, why in the f**k would these guys spend one damn dime on exploring the Garland. That piece of dirt should not be touched for a least two years while they put their total effort/100% into Brazil production. This sh*t just makes me crazy. Forget the Garland, because any money spent on that dirt is just wasted money that won't help the bottom line.
In all honesty the Brazil gold production and cash flow is a long ways off, so that means even more dilution in the coming months. Personally I'm not interested in being diluted to oblivion and then rolled back sometime in the future. The light bulb just really went for me with this last PP and flow through.
Simply put, the leverage is being diluted out of the company and this sector is already too dangerous to mess around with that cr*p. That's not what I'm looking for from a management team as a resource stock investor.
I'm clearly on the fence about staying around much longer.