RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:Calling on NachoD.Kylemcc10 wrote
If that was the case they would update everyone on operations and let us know they are stockpiling. Which would likely keep share price from falling and causing massive dilution when they raise at 5 cents. There's quickly becoming way too many shares. Listening to the last annual meeting made me almost sell immediately but I held on for a bit. They provided zero information. They got their stock options and hung up.
----------------------------------------------------------
WGC is not in a position to hold back gold sales. First of all they cant seem to even fix a couple conveyor belts in the last 4 months never mind produce any gold. Companies that hold back some gold in inventory when gold prices are low are usually larger miners that have lots of cash in the bank. Even then they dont hold all their gold production back. They maybe hold back 10% and sell the rest which pays all their workers, equipment, and other costs and keeps adding cash to their bank account.
WGC is doing private placements at 5 cents on a stock that was 17 cents a few months ago. That is the "Cheap money" that our friend Ritchie is talking about. Their is also no guarantee that those buying all the 5 cent shares in these pps will keep buying more. They can also see that WGC is going nowhere and all their shares are worth less than they payed and their will come a point where they have also had enough of throwing in more and more money which never leads to any results.
Ritchie also talks about holding back gold sales until much higher gold prices come. Hey Ritchie do you have a crystal ball that guarantees higher gold prices? What if gold prices go down in the future instead of up?
WGC needs to start producing and selling all the gold they can to get cash flow positive. If and when that happens and they have piled up some serious cash in the bank they can then hold back some of their gold production if they feel gold prices are too low.
Lets not put the cart before the horse.