RE:RE:RE:RE:RE:RE:RE:Feeling sad & depressed, any chance this hits $1 next year?Phatboy2 wrote
I'm not sure taking over 3 producing gold mines generating over a 100 million in cash flow and a flag ship mine half built is "inheriting a big mess". If Dougherty had any fault it was his inability to stop the hyena's from stalking and eventually taking down his company. We've all seen those animal snuff movies where some noble beast is pursued and eventually ripped to pieces and eaten alive by wolves. This was no different.
I don't begrudge any investor has the opportunity to make profit on a share transaction - as long as the proceeds weren't beat out of the hide of other investors. The $13,000 you paid for 30,000 shares is the same amount I paid over $70,000 for. I think you can understand why we were not rooting for this management team or the deal they got sucked into - knowingly or not. If the stock market committee's reviewing this deal have a shred of credibility they should stop it in it's tracks.
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Mr Dougherty is that you? I guess you have a lot of time on your hands after being fired by AR.
The problem with you is that you live in a delusional fantasy world and you suffer from delusions of grandeur and paranoia. Quite a common thing among gold investors. First of all you see all kinds of conspiracies and things going on behind the scenes by all the evil investors who want to take over AR. If that is true why is the shareprice at 42 cents?
You can keep going on about Dougherty and how great he was but hes gone and doesnt appear will be coming back anytime soon no matter what you think. What is that you say about 3 producing mines and a half built "Flagship". Thats the problem the Flagship you talk about that was supposed to cost $490 million is $500 million over budget. You dont call that a huge mess. That was under the mangement of your hero Dougherty a fact that you keep glossing over because you have no answer for it.
As for the company he built. The existing mines are basically low grade high cost mines and a couple of them are running out of ore and the other one seems to have problems producing and what production there is is high cost. The cashflow they are making will be getting smaller and smaller as time goes by. That is the reason for Magino to begin with.
As for you paying $70 000 for shares that i just bought for $13 000. Maybe the reason is that a am a smarter investor than you. You say you have been invested in AR for 10 years. So you have been in gold stocks for some time. Did you not notice that nearly every time a miner especially a small one like AR trys to open up a mine that things usually go a lot slower and cost a lot more money than expected? I learned that lesson the hardway a long time ago and usually try to stay away from this type of situation as there is often a chance to buy shares a lot cheaper when the inevitable problems arise. And if the unusal happens and things go well and the shareprice keeps climbing i move on as i am not in love with this or any other stock and there is always another prospect coming along.
Nobody beat anything out of your hide. Did i or anyone else force you to buy those shares for $70 000? No you started counting your chickens {And Magino and ARs profits} before they were hatched and thought you would make a lot of money and it didnt work out that way and now you are jealous of people like me who are buying in for next to nothing and will likely make a killing while you after 10 year waiting will likely wait awhile yet to hope to get back to breakeven.
These are the hard facts and you can spin things all you want and blame everybody else but it was YOUR decision and nobody elses to buy those shares for much higher prices. If you had made a lot of money you would have been bragging about how great an investor you are. Now that you lost its everybody elses fault. There is a lot of risk in investing especially in small gold miners. There are always problems and usually cost overruns. This time it was a $500 000 000.00 Fu@ck up by your hero Dougherty and that why AR is where it is today. Next time it will be some other problem or cost over run etc. These are the risks of investing especially in these types of stocks and we all know that going in.There can be big reward but more often than not especially in gold stocks it seems that there are more stories like yours than of big winners.
Been on the losing end of gold stocks more often than not. This time with AR there appears to be a very good chance to make some good profits. But i buy in knowing that things can also go wrong and i can lose part or all of my money at any time.
You win some and you lose some. Hopefully more wins than losses.
Good luck to all.