RE:Bigmam comes out swingin and a slagginAnother funny one was Rubicon. Nothing but pumping on the board, and every time they were supposed to start up, they had to do something else and raise more money. Double the mill throughput from 1250 to 2500, etc etc. then they had to shut down to 'understand the deposit'. Canda Pension was in there and a lot of other big players, which validated the optimism: presumably they had done their DD. I was in and out of RMX from the beginning (like AXR) and did well. When you play these things for a while you think you have an understanding of the company, and the patterns of the stock price. In the case of AXR, every once in a while it would go to 50 cents, then return to the multi-dollar range, in one case 9 bucks. This recent experience looked like the same sort of ride, and all the guidance was optimistic (Q1-'22 cash flow positive, no financing required for the next year, etc). But you felt confident the goods were there (they still are, in some form), and they had actually started up and ran for quite a while about 12 years ago until silver crashed.
In the case of RMX, the gold was in multi-million oz; the only question was how high a number.
I knew someone in Red Lake, one of those guys who knew everyone, and at one time late in the game I just happened to mention I was in Rubicon. His response: 'Hmmmm'; no elaboration. The locals often know what's going on, what with the beer parlor discussions when the shifts end.
Then Rob offered all his RMX shares (45MM!) in a secondary offering. I sold about the next day and kept all my winnings, unlike many who rode it down to pennies and then were subjected to a 150 for 1 reverse split after the startup and quick shutdown when the Swiss-cheese nature of the deposit became apparent. But someone else likes it now, bought it, and feel they can make a go of it.
Anyway, with AXU, pretty close to breakers-even for me (even though I had been significantly ahead). I have to admit the progressive deterioration of the share price beginning late March '22, the sudden shutdown after startup due to 'insufficient feed'(?!), the tripling of the Canadian short positions from 2MM to 6MM, and the sudden 'we sold', after all the sunshine, lollipops, and rainbows finally did catch me by surprise, especially the "we sold, and 47 cents is a good deal for 'stakeholders'(!)".
Run when you hear the term 'stakeholders', unless it's too late.
Question: are you up in the YK, Keno, or do you know people up there?