RE:RE:Not Good News Out The only bright side to this news is that the share price will tank and maybe—just maybe—Geodrill will finally get bought by another mineral drilling company who smells blood in the water. I seriously doubt Q3 will be the only quarter going forward where they report a net loss (I hope I'm wrong on that point).
On last quarter's call management said the dividend was safe. Now out of nowhere they suspend the dividend. This 180° turn reflects poorly on management and the board, in my opinion. Without the dividend there's no reason to even hold the stock, especially with so many better options for places to park capital.
The whole situation with Burkina Faso makes it clear why many drillers refuse to operate in unstable third world countries.