RE:Boss speaks at Beaver Creek tomorrow...crickets chirping...metalhead666 wrote: Can't imagine anyone attends. Hope he has security. This will be my last post on this disaster....sell.
Don't rely on "hope" Don't fool yourself into thinking that you're stuck because you're so far underwater you can't leave. Don't compound your mistake...sell and move on.
Tomorrow SKE presents....compare and contrast....MOZ will be desperate to explain how a promising project turned into a disaster...SKE will be boasting about the best feasibility study I've ever seen. Sell MOZ which at best will do NOTHING for a long time and use your funds to buy SKE which, as I'll explain, could double your money in a matter of weeks. This is the right thing to do.
SKE will receive a judgement from the high court by X-mas as to the validity of a frivolus claim made by some hillbilly over the previously mined rock sitting in the Albino Lake waste tailings facility. It's an interesting story. I don't know all the specifics but have written to the BC Gold Commissioner to see if I can get the documents and legal filings.....Basically some guy laid claim to the mineral rights UNDER the Albino Lake tailings built up over years by the previous operator of the Eskay Creek mine. The commissioner ruled in his favor saying that he has title to the stuff ABOVE the surface. This is absurd but it doesn't matter
SKE has the permitted roads and property surrounding and including Albino Lake. In this "lake" are hundreds of thousands of ounces that are high grade but were discarded by Barrick back in the day because they only creamed the deposit given costs and remote location. This guy cannot even walk his mule to the lake let alone access a pan full of mud. He's looking for a paycheck as it's impossiblle for him to ever mine what's there.
By X-mas the judge will decide once and for all the disposition of this stuff. One of two scenarios follows....the guys claim stands up and SKE will have to write him a check for it all or he loses and we get it all and he gets nothing. Either way SKE is about to inherit hundreds of thousands of ounces of gold for next to nothing and in addition to the project outlined in the FS. Albino Lake was not included
This means that SKE is about to win the lottery. They will have hundreds of thousands of ounces of high grade already mined that literally just needs to be scooped up and processed. I figure that this already mined ore can't cost more than $300 or so to mill. SKE will NET well north of a $1000 per ounce margin on hundreds of thousands of ounces. If there's 300k ounces and they net $1000 margin that's a cool $300 million free and clear on top of the project. It's conceiveable that there's enough stuff there to nearly pay for the entire project build all by itself or at least a significant portion of it.
This bonus could be worth in cash a significant portion of the entire current market cap of the whole company. And it's just sitting there, already mined, ready to be scooped up and processed.
For X-mas Santa Claus could bring a double in SKE stock price just on settlement of this issue. You could recoup your losses in the MOZ disaster in a few months if you take your beating and apply your funds into a CLEARLY superior play.
I'll provide details of this interesting story when I have them if you like but otherwise I'll exit this board. Don't be stupid twice....you knew a serious dilution was coming, that management mis-managed the build...the only thing worse than being stupid once is doubling down on stupid.....move on...buy SKE and kiss this krap goodbye
Good recap of the Albino waste tailings facility legal battle. Only issue is news of potentiall Xmas judgement decisiion already factored in share price . If you think you know something that the market doesn't dream on.