Sold out yesterdaySold out almost my entire position in GCM in the last week, with the bulk sold yesterday.
I like GCM's assets and undervaluation. But I don't trust the chairman Serafino.
Moved the proceeds into MUX, whose CEO rob mcewen I completely trust, both in term of competence and integrity:
https://stockcharts.com/h-sc/ui?s=mux:gcm.to
As one item of comparison in leadership, contrast McEwen who owns 25% of MUX and draws no salary while working very hard to advance MUX VS. Serifino who draws $300K salary for part time work as the chairman.
I may buy back into GCM for another trade if it drops back to its long basing level. If not, I think the odds of a 10 bagger with MUX from the current US$2 level over 3-5 years timeframe are higher than that of getting a 20 bagger from GCM from the current C$2 levels. GCM needs to provide twice the % expected gain as MUX in order to compensate for the higher risks associated with operating in a single country and for having such a crappy chairman. MUX market cap is US$660 VS. US$144 million for GCM fully diluted.