GREY:VITFF - Post by User
Comment by
MVargason Sep 19, 2022 4:22pm
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Post# 34972150
RE:RE:RE:Coeur sells Southern Nevada Holding for 150mil
RE:RE:RE:Coeur sells Southern Nevada Holding for 150milSwingandmiss, I had to log out to see who you were responding to. Not surprisingly it was the long-time troll, gimmeabreak whom I had put on ignore a long time ago. I'd recommend you do the same because you can't trust anything he says.
To clarify, Q2 cash costs were US$828, AISC was US$1371, operating earnings were C$20.1 million, eps was $0.27/share. Cash flow was slightly negative due to $31 million in capital expenditures.
You may be right about Coeur divesting the remainder of its shares, but I'm not so sure. Victoria was one of 5 companies dropped from the Van Eck GDX index on Friday - thus the large volume at the close. On Sept. 15 the GDX ETF held 2.848 million shares - down about 600k from a week earlier.
The general market sell-off has also hit the Gold ETF's that must sell shares to cover investor redemptions. It seems that Van Eck opted to drop 5 companies from the index to maintain their ownership of other companies in the index. That Victoria was one of the 5 is another indictment of management's lack of transparancy.
I wouldn't be surprised to see an increase in the short positions as of Sept 15 when they are reported this week. Those who have advance knowledge of the re-balancing of the GDX and GDXJ indicies could very well short the stock at higher levels and cover with the purchased Van Eck GDX shares.