RE:June 30th Callow gets $30k usd +$50k usd BONUS
"how can this be allowed to continue?" ZZ, it's time to grow up and realize that there are many, many companies out to hustle and scam people, wherever there are stock markets. And the TSX-V is particularly known for this. Once in a blue moon there is a situation where small shareholders can change things through a change of management or a lawsuit. But most of the time, the only way to "stop the insanity" is to sell and look for a better investment. (From time to time, I have tried to help the process by pointing out similar companies but with more of the ingredients for success. Many mining companies are in a rough patch now, but most of the alternatives I suggested have done better than AGG.)
Not claiming to know all, but there is one key principle in investing that helps to avoid losing (more) money on bad companies. One has to avoid dwelling on the price you paid to get into a stock, hoping against hope that you will at least break even. Where a company has been and what it could have been are irrelevant to the future. Every day, you have to look at a company as if you never invested in it before, and you are thinking of buying. If you look at the company's prospects STARTING TODAY, and they are not looking good, then of course you would not buy in to that particular stock. And if you would not buy in, does it make sense to hold, hold, hold while the company keeps sliding towards its ultimate fate? Or does it make more sense to take whatever value is remaining in the current market price, and put that money on a company with a more promising future, objectively speaking? In most cases, that is the only chance of getting one's money back on a bad company.
Specifically, would you recommend to anybody to buy shares in AGG/TRE, based on the following hopeful scenario:
1. Something unexpected happens to the ceo so that he is out of the picture.
2. By some incredible stroke of luck, this time around the board (after how many failed attempts?) is able to find a brilliant new ceo who is willing to take over a sinking ship of a company. (And maybe without a salary and bonus, since that is where most of the money is going.)
3. With additional heaps of good luck, the new management figures out (where others have failed for years) where to drill and find the pot of gold that will make the project soar up the list of attractive investments for real mine builders.
What odds would you put on the above happening, objectively?