RE:buy it back???I only bought this stock in late March after the pullback from the private placement, so my perspective is one of someone who hasn't been burned (yet).
With that said, their ownership in DV was one of the main reasons I had decided to make the plunge, but I unfortunatley did not catch that their position in DV was no longer over 30% before I bought.
From what was explained by another poster on here, and from another Tim Clark interview in November last year that aligns with their analysis, the private sale of the DV shares was a strategic decision that would give DV a better chance of having significant share price appreciation before being bought out. With Hecla owning 10% of DV, whoever FURY sold their 17,000,000 shares to sounds like it would make an imminent takeover of DV by Hecla less likely - I don't think it was ever disclosed who the buyer was, but I would like to think that it was a company on the same playing field as HL.Clark's rationale for doing the sale when they did was that there was no guarantee that another opportunity to do so would come up anytime soon after. It seems like a logical decision at a macro level, but I could definitely see why many would take a disbelief and pessimist stance on the situation given the history with Fury's freefall after the Auryn spinout mess - or what I've read of it at least.
I'm not selling into what little profit I'm up so far, but I'm definitely not buying more until we get more drill results and updated PEA for Eau Claire and the DV story plays out more.
My biggest concern right now is the fact that there has been no plans given yet for ESJV. It sounds like the overwhelming majority if not all of the $8.75 million in FT money from the PP will be allocated to Eau Claire drilling, but there is still almost $9 million in cash on the balance sheet after that. Clark even alluded in an interview in the last few months that he was eager to see the commencement of the drilling program at ESJV since it would be double the drilling for every dollar spent. If the hope is for an M&A deal, I'm not sure why Fury wouldn't want to appease Newmont to keep it's options open.
My feeling is that they either have good reason to believe that they can significantly advance Eau Claire, or there is something going on behind the scenes that now makes ESJV less prospective. Another wait and see situation to me it seems. The last PEA done for Eau Claire was in 2018, and the majority of the project was proposed as being underground with retreat mining methods. Even if the resource estimate doubles to 2 million ounces, I'd be curious to know what kind of producer would be willing to take a project like that on.
I'm more than speculating with all of this, and I can only be cautiously optimistic for now. Hopefully more good news from DV and a rising gold price can give Fury shareholders something to look forward to in the meantime.
I learned recently that Fidelity owned 7.5% of Fury as of late last year (how much they still own after the dilution, I do not know), which I believe they bought in one of the 2021 or 2022 PP's. If Fidelity was willing to take a significant position in a junior explorer during one of the biggest downturns in the sector, I have to think they have a high degree of faith in the Fury story and management team.
DYODD... GLTA