RE:Conference CallAgree it was typical Huet... no apologies or dwelling on the past. Basically, just an oh well we won't let it happen again. What did you expect? The guy is basically lacking any real emotions or personality or class. He did explain the decision to sell the Hollister ore stockpile. They can already run the mill at full capacity with Midas and Fire Creek ore at higher head grades and recoveries. So why process the Hollister stockpile? It was a better economic decision to sell the ore, especially if your primary goal is to maximize cash flow.
At this point the stock it so undervalued that it shouldn't be going much lower, but there could be a quick move down for the rebalance sales if the shorts aren't ready to snatch them up. I have to wonder if the shorts aren't mostly owned by Waterton as a hedge. Brilliant move if they managed to pull that off. I think a buyout is in the works and it won't be for more than USD 2.50 at this point and the deal will get done. I'll never recoup my loss on this one. I hope it doesn't happen, but I'll get over it and invest in the buyer's shares.
A competent operator could easily build this company back up to a billion dollar market cap. The Nevada land package alone is worth half of that and the current production, and infrastructure is the other half. Even Huet could get this thing back up to 600 million in a year or two, but he won't have the opportunity. Not a chance. He's done and he knows it. That's why he just doesn't give a ---- what anyone thinks at this point, not that he ever did.