RE:RE:RE:RE:Pros/ConsYou're not making any sense with nerve touching, keep your hands to yourself. I stand by what I said, it is a contradiction for terrible management and terrible execution to turn a company around. Production would be dropping if there was terrible execution, not doubling. The numbers and facts speak for themselves. There is no personal nerve touching involved. Production numbers have increased, AISC has dropped to $850, earnings number changed from a loss to a profit. When a company goes from a loss to a profit, that is by definition a turnaround.
I don't care about your 10 year chart. I'm investing for the future not the past. I don't have a time machine to go back 10 years to lose money. Lombardo Paredes became CEO only 2 years ago in 2014. From 2014 to 2016 production numbers almost doubled. Bashing management is straight out of the Bashers 101 handbook.
CRK/NMI was a similar turnaround situation with extremely undervalued share price, turning from a loss to a profit. People were still bashing management after they had a few quarters of profit because the share price was so low. I remember people on the Lakeshore Gold board showing me a historic long term chart of the large drop in price, giving that as the reason for how bad the company was. Since then the share price has more than tripled. It's stupid to invest using a rear view mirror. Coincidently, Rodney Lamond who was responsible for the turnaround was the CEO of CRK and is now a director of GCM. Also coincidently, Miller was a 10% insider of CRK/NMI with a lot of shares, and he also is a big investor in GCM. Miller must really like extreme undervalued plays.
Hockeynut2 wrote: ts9222 wrote: How can they turn a corner if they have terrible management and terrible execution?
You are contradicting yourself lol
Segovia production:
2014 74,507 oz
2015 92,894 oz
2016 ~125,000 oz
Not bad increasing production from terrible management and execution.
GCM was the only miner that couldn't avoid managing $1050 gold. Every other miner had extremely good managers that managed to avoid $1050 gold to make huge profits.
Hockeynut2 wrote: Hi TooTall. Happy new year. Terrible management, terrible execution, terrible history, but I still bought 50k at 9 cents. I think they may have turned a corner. Time will tell. Good luck to you.
Good Evening TS. I apologise if I hit a nerve. I stand by what I said. Bad management, bad execution, and bad history. I still think it's worth a shot for a small gamble. The reasons you mentioned are the reasons I bought in. It's nothing more than play money and a gamble. I think they MAY have turned a corner. However, you can't ignore this management teams performance when gold was at all time highs either. Anyone looking at this just has to check the 3 year chart, then the 5 year chart, then the ten year chart. It's a pathetic picture. Unfortunately they have also run up the share count again, brings up the possibility of another reverse split. That's just a fact. Can't be ignored. For myself, I'm hoping for a double, at which point I will sell 2 thirds and ride the rest. I'm not sure what you're hoping to get out of this, but I hope you haven't bet the farm. GLTA