RE:RE:RE:Argonaut Gold Snubs Shareholders With Financing That Will DiThis message is directed at sciarda.
Master Investor you say. If I was a Master Investor I would not be a bag holder like the rest of the shareholders who are averaging down to get out of this turd.
You obviously didn't catch the frustration with my message. The frustration is with incompetent management that is allowed to continue and draw a salary.
With all your rosy cashflow projections have you asked yourself why no mining company is stepping up to fully subscribe to the $190million financing to control 65% of the company and use that $400million cashflow you quote? You wouldn't even need management approval to carry out the buyout because they are offering you the chance on a silver platter.
You are throwing figures around that this will be an 8 to 10 bagger in the next couple of years. For who, the vultures that are getting in at this price or the existing shareholders who got screwed. Not sure if you have seen some of the valuations of mining companies who produce 1 million ounces a year but even they don't trade at your valuation. And you expect this turd to have a market cap of $7billion. Smoke them if you got them!!!
Shareholder friendly company would have done a rights offering at that price and let all suffering shareholders have the right to participate in the future growth.
Great asset with poor managment means opportunity for the next operator.
For those interested just look up the history of the Island Gold mine and a company called Patricia Mining who went belly up holding what has now become one of the most profitable operations in Canada. Incompetence should never be rewarded!!!
Good luck to you but I am only looking for $1.00. You can keep the rest.