RE:RE:RE:RE:1.5 mil usd for paying 2.8 mil notes . Humm.Dear invest , here's my take with a preamble
a) i don't want to offense or attack anyone here as i have others things more important to do
I am on the same boat as i guess you are .and you look like rather a smart guy .
b ) i sincerely apologize regarding some expression that i a litteraly translate from my own first language . Of course , Y O U (invest )has Never said bizarre . ( theses are words from an old famous movie indicating rather a bad surprise)
So once again and by advance for the next times , a thousand excuses , and i 'll try to avoid it.
That said back to the topic and gcm in general
The fact : Sad reality , but gcm stock is now well underperforming its benchmark the gdxj for the last 18 months or at best 12 . ( and by a lot ) . I have a gcm/ gdxj ratio in front of me.( i speak from a classic long holder point of view)
With a gold at its highest and operatings in the good average .
All here or elsewhere ( myself included) say the company is very undervalued vs peers , (and let say from the recovery )is unnable to catch up
So why ? what's wrong there ? Why gcm is losing ground for months ?
Colombia ? , reserves ?, algos ? Charting ?
I don't find strong reasons here . So is it management ?
First and overall i have respect for entreprenors , who are they . But let's see the big moves recently
Zancudo . 3 years ago gcm was the full owner . Now after having payed 3mil cad the company owns 14% of the same mine . One rig on site . Not gold for tomorrow. Why such emergency ?
Caldas 14 mil usd for a project sold by paas . (! ) see the story bellow .why such emergency ?
Gold notes . ( You desagree with me . Ok the fact is gcm is paying each q now 1.5 to refund only 2,8 ). So why to continue paying 15% % when you can finance everything much lower . I read yesterday argonaut has got for its new project 125 mil usd at libor + 3 . We overpay 3 times .
Sprott : why to have offer him thoses incredible 7 millions warrants ?
I own ( trade ) first majestic . Sprott came in with 78 mil cad .....at full price . No warrants , no rebate , nothing more . Why here this monstruous dilution ?
Etc .. i have to do quick now
To sum up , what i want to point out , is may be some lack of rationnal choices are responsables for the low pos . But as important , some clarification are needed to understand where all this money goes . Mr market would surely appreciate . One can always dream . -)
See you next week .