Re:RE:RE:Rick Rule discuss Abcourt
Rick also said "who cares if the company that you purchased with good assets falls by 50% in value."
A company temporarily out of favor with market sentiment may abruptly change its share price direction if its financial conditions dramatically improve.
It has happened before and it could also happen again!
Mr. Hinse is certainly using a cautious approach to Abcourt's property development.
Some might say that he is taking much too long to get the job properly done. But he would demonstrably, choose to disagree!
There are certainly many good assets to improve in value and mine.
But he says, "let's develop them, one at a time."
For now, that remains the board's decision.
And although he may appear a little too reluctant to share enough company information, and in a format that many would likely prefer, for now, he remains the CEO of Abcourt Mines.
And, as a longer term investor, I am much more interested, in better financial results.
Today there remains some uncertainty about the matter. That is reflected in today's current lower value share price.
Costs have escalated since the company started to develop the next mine on its agenda.
But what would have been the increased costs of developing a third mine at the very same time?
What would the AISC have been then?
Insolvency?
Would that move have bankrupted the company?
Renaud Hinse's day's are certainly numbered. Someday, he will need to be replaced. As a competent mining engineer, let's hope that his replacement will be equal to the task!
Even Rick Rule mentioned the need for the investor to remain patient. That may well apply to a variety of different investment situations. Abcourt Mines is undoubtably one of those!
But with the Sleeping Giant mine re-development barely underway, it could prove costly to consider the option of selling our shares, so very prematurely!
And this would not be the tax loss that I might choose to take.
Ask yourself this question, why do I still remain invested today?
There have been many opportunities to sell and with a very good profit, only a few short months ago.
Management remains the same.
The Sleeping Giant mine development is now underway.
And if Rick Rule's advice is not to be taken lightly, we may expect a much higher gold price in the many months and years, yet to come.
Why be so hard on fbedard?
As a shareholder, just like the rest of us, but with more confidence and the guts to make Abcourt his biggest holding, fbedard deserves, much better respect!
At least he has expressed himself honestly, about the company that he considers to be, his very best investment!
I continue to hold because I expect much better results in the future. And I am also, willing to wait!
Is Abcourt Mines really such a value trap?
Like Rick Rule mentions, many such companies still remain, incredible opportunities!
Many times, it pays handsomely, just to wait!
All the best! Java