RE:RE:RE:RE:RE:RE:RE:RE:RE:RE:GoldHunter Post
https://twitter.com/bigdude6669/status/1356415318185238528?lang=en
Waren Irwin also runs a website that serves as an education centre for those interested in mining. He had a number of concerns that still apply today.
1. High promotional expenditures for this company around 1 million dollars. Stocks are bought not sold and this is rather aggressive and seems like focussed on retail investors.
2. Transportation costs related to hauling all the way to Kidd's Creek keeps going up and up with the prices of both gas and diesal. This I think is a risk when you have low overhead and nobody has a crystal ball as to how bad its going to get. So razor thin profits on a big low grade deposit presents risk over 10, 20, 30 or 40 years because no one can predict what the future holds. Whereas larger margins acts as a buffer for volatile energy prices.
3. He also wasn't impressed that someone engaged him a conversation immediately after signing up to Twitter and proclaiming that management was "great". He asked the individual if they worked for the company and don't recall getting an answer but only additional boosterism before being asked to go away.
Happened less than two years ago. And I don't think the above has changed.