We Need More Truth and Developmental MuckI note that in an earlier post that "paths" said that 90% of the time you will lose money in mining shares. If that were true-then absolutely nobody should be invested in mining stocks- ever. With a 90% chance of losing only an idiot would invest and so it is- that somehow paths must believe that PVG falls within the hallowed 10%.I do note that by his own yardstick- that there is a 90% chance he is wrong.
I don't believe that he is though and so I stood pat- now taking a 45k haircut.
The problem I've seen throughout my life is overselling or lying about the size of the deposit and then underdelivering. There are so many other things that can go wrong as well with mining shares- labor issues, inflation, politics, flooding and cave-ins, foreign governments changing the rules, taxes, the price of the commodity crashing.
I've made money on mining stocks and streamers. But they are crappy investments- I'd put the number at about 40-60- winners v losers- higher if you try investing in foreign countries with lousy reporting requirements. So I cherry pick only the best which had me landing on PVG.
All any investor wants is the truth- so that we can make an informed decision.
Tell the truth. If you have been telling people that you can mine 504,000 ounces and you can't deliver- tell the truth. We are churning thru low grade rock. It will take an additional 18 months to smooth out the numbers. Or we need more developmental muck.
When I was a kid, there were ethical and moral considerations to telling lies. People tried to do the right thing. Not today. The only bar today is the legal bar. Can I lie and get away with it? Can I screw the shareholders without getting sued? Lawyers try to find ways around moral obligations as well as the law- they don't support law so much as they try to circumvent it. They are everywhere too, advising corporate executives and boards.
Is PVG oversold? Of course. But this is what happens when you deceive people. We need a little more truth and a lot less BS. Or maybe a sh** ton of developmental muck.