RE:Back out againyou say nothing has changed? a different management team certainly is a change.
gcm was good with mine operations, but they were bad with financial manipulations.
Michael Davies the cfo in charge of those financial manipulations is gone. i always thought he looked weak in presentations, his best asset was that he could speak english!
Ian Telfer made shareholders a lot of money. Telfer as ceo led Wheaton River from a $10 mil company to be bought out by Goldcorp for $2.4 billion. he became ceo of Goldcorp and made it the third largest gold company. he helped build Silver Wheaton by separating silver assets from Wheaton River. obviously silver wheaton was a big success.
Neil Woodyer built Endeavour Mining which i made a good profit on. he also built Leagold which merged with Equinox.
this company is already on a very profitable path. all they have to do is complete construction of toro and marmato and this would be a 600k oz/yr cash cow.
with good reputation of management, they can get a decent p/e multiple of 10 instead of crazy 2.
Northforce13 wrote: I had bought a small position recently. Owned a long time ago but was exasperated at the time with their continual dilutions and capital markets actions.
Saw a div, some buybacks, thought they had changed their ways. Joke's on me haha. These guys are great con artists. They got me twice!
Dividend toasted, buybacks no doubt as well, huge capital markets transaction (along with associated fees)... nothing has changed, they were just disguising themselves for a while, I suppose.
Back out at a small loss on the small position. Thank god I didn't go heavy.
GLTA