RE:I did say we should reach the 1.70's and today it happened.Pains me to see such a wonderful asset being held hostage to some seemingly self-serving paratiste(s). Odd how the stock posts $3.50 at the start of the year, and a little over 2 months later they're doing a financing at $1.95. Well, at least there wern't any warrents I guess.
Held this stock for years and decided to sell when they swallowed the Chinese poison pill. Management arrogance, zero skin in the game, failure to address Glencorps breach of comitment to Hackett, all those seemingly unnessesary and ill-timed financings with little regard for dilution, the constant references to "derisking" (even though the project was economically feasible) - it all seemed at odds with the primary and assumed goal of shareholder value creation.
That said, the stock has always had a high beta to gold prices. It's the one I think of when sentiment crashes. Just remember to pull the rip cord when things look really good, because this rocket has a history of malfunctioning just as it's being towed to the launch pad. If this stock were a road trip, BM would be the photoradar COP that spoils your fun just as you're leaving the the city. Just my two cents. Maybe it'll be different this time. Here's hopping your journy proves more enjoyable than mine did. Cheers.