RE:RE:RE:RE:RE:RE:RE:RE:Equinox selling, did it help drive down the SPI've played in this sandbox for decades. One thing you should never forget....they are all liars. Mark Twain said a gold mine is a hole in the ground with a liar standing over it. They all are dreamers...it's a dreamers business. It's also the worst possible business anyone could pursue. The costs are astronomical, things ALWAYS go wrong, grades and deposits rarely are what they claim and they all eat their seed corn.....an ounce once mined is gone forever...so they plow all your profits right back into the ground.
The bottom line FACTS are.....
The JV deal failed. I don't care why. It says something. If it was so promising then the mystery JV party would have pursued it. Saying that I80 changed its mind is ridiculous
They are out of money
They have no feasibility studies
They have no plan for restarting the autoclave
They fired the CEO
There's still a massive short interest...what do they know that you don't?
Any debt will come at onerous terms set by the lenders not I80
They couldn't fulfill their obligation to deliver ounces
They need at least half a billion $ to get everything producting...at least
Any money they get now will get spent and they'll need to go to the well again
There will be dilution and warrants
Debt isn't any better than share dilution if the rates make it impossible to pay back or consume all cash flow
There is no cash flow
PEAs are useless and no one lends large sums on a PEA
Gold could peak, rates could go higher, inflation could drive up costs even more, the markets could crash.....all likely IMHO
There's just way too many other places to risk money that real tangible information could be had..this company I80 is as opaque as any I've ever known