RE:skunk or cannabisThe price is being suppressed - by managements poor decisions. With 60-70% of shares being held by insiders or institutions, the majority of the remaining shares appear to be held by long term shareholders, who won’t sell at these depressed prices. Potential new long term shareholders have no intention of investing in a company that they can’t trust management, and penny flippers are concerned about being blindsided by another bad deal. As long as the current management remains this company is ripe for a stink bid.
With every other gold company other than Core Gold’s, share price increasing the opportunity cost of holding core is too large for potential investors.
Until Core has a trusted management team, or a partnership with a credible company, whom holds a larger share block, this company is trading where it is.
How this company with such spectacular properties has been mismanaged this poorly is beyond me. Why haven’t they taken the PP offers from the companies Keith has presented them, upgraded the mill to double the capacity, to increase profits, sign some joint ventures to get copper duke, and the lindros properties drilled! Make shareholder accretive deals!
Compare luminex resourses to Core Gold - Luminex is in Ecuador, they have joint ventures to drill out two properties, with BHP, and Anglo American for a combined value of over $100 million over several years of drilling. There is lots of interest in investing in Ecuador... just not with Cores current management.
The Alchemist
https://luminexresources.com/site/assets/files/5316/luminexres_sep_2019.pdf