RE:RE:RE:RE:RE:RE:RE:Yess another 225 k cancelledwhat you are essentially arguing against is how they financed toro.
if instead of $300 mil debt at 6.875%, they financed toro without debt by printing out $300 mil in share dilution at cdn$5 share price and paying 3.5%,
you would be much happier with that massive share dilution paying 3.5% just so they don't have debt?
toro pea is for $1500 gold. if you really think gold will drop much lower than $1500 to a gold price of $916 of toro aisc, then you should not be on this board, or any gold miner board.
Stratocheif wrote: Depends on how you see things. Depends on gold price and sentiment. Today is today but one or 2 years out no one can predict. If gold falls a couple of hundred the shorters will pile in there even if share count is 5 or 10% less. And in such scenario the longs will sell because suddenly u have a small company with 300 million of debt that they are servicing at 6.875% while profits are plunging. And all along, they would have been saving about 3.5% for every dollar of debt they canceled as opposed to the saving for every dollar of stock they don't have to pay the divi. One has to contemplate the downside risks as well as the potential upside. Many companies fall into that trap. I've had about half a dozen oil companies go bankrupt for that very reason. Oil falls, debt becomes an issue. You gotta be a real genius to go bankrupt when u have no debt haha. Thats why I always feel good about owning a company that is doing well without it. Not bashing gcm, I hope the stock does go to 15 or 18 but the future is never certain. Look at what's happening with argonault