RE:RE:RE:RE:RE:DilutionYeah, you can expect to see them do constant and continual dilutive capital raises so they can pump all that money into projects like Marmoto, which they pumped > 200 mil into so far then recently enhanced shareholder value by spinning it off for 57 mil.
You can expect this to continue pretty much as long as this management team controls things.
For fun thinking, If they stopped doing all these expansion projects, and just returned segovia profits to share holders, at current gold prices the dividend would be 35% +/-. Then the share price would rocket up to around 15.00 to 20.00 or so.
But no, share holders throughout these boards will cheer management on as management dilutes as fast as they possibly can to "enhance shareholder value".
It would not be surprising to see all this value creation ultimately reflect what has happened to the share price over the past 10 years. I'm sure people who bought in 10 years ago and have been participating in value creation and dilutions since then must be ecstatic today!
Wayne points out in his post that anyone would be foolish (guess he's referring to all the longs on these boards) to invest at these price levels due to the problems in colombia, hence Sprott buying in at a substantial discount to market.
Your upside is limited because management will dilute you to smithereens. Your downside is unlimted, but you can look at the 10 year chart to get an idea... It took me a while to figure that out and bail. Reality and logic overcame hope in my brain after a while.