RE:RE:RE:RE:RE:RE:RE:RE:RE:Equinox selling, did it help drive down the SPMetal Head
You should calm down, I am worried that you are going to have a heart attack. You are absolutely correct that mining, and especially gold mining is a very difficult business. That is why gold miners are a small porrtion of my overall portfolio. There are other difficult aeas to invest as well, think pharma, bio tech, regular tech, oit & gas, small caps in general. Do we eliminate all of these investment areas because they are difficult and there are charlatans masquerading as CEOs and chairmen of the board in these industries. I for one, don't think our management team are charlatans, but even good management teams can be wrong. All ceo's have duty to try and keep shareholders on board. Do you want to invest in a company where the management team says, "Our company sucks, our assets suck, our sector of the economy sucks, but heh you should buy some shares in our company or hold on to the ones that currently have."? It is managements job to have a vision for a company and a plan on how to implement that vision. I think ceo Young and his team have painted that picture.
You are right that this new management team has a lot of work to do. But they did a similiar on successful turn around with teranga gold. Was teranga just a fluke? That would be rather insulting to the Teranga management teams' accomplishments (and many of that team are now with I 80). Again you seem to pass a lot of time on this bullboard on a company that you are obviously not long on. So you must SHORT. If you are not long and not short why are you so concerned about what is or is not happening at IAU Gold? It is irrational for someone to get SO involved with a stock if you don't have some sort of vested interest (that is you are long or short).
Most young companies need capital and the two main sources are debt and equity. Gold mining is unusual because there is the option to use streaming as a source of capital. All three forms of raising capital have their pros and cons. But it is disingenous to say that I 80 has NO access to capital. You may be right that the access to capital may come at a very high cost that will hinder the future prospects for the share price. That is a risk I am aware of and I am willing to take. If you don't like the risk then don't switch from shorting to going long.
As per needing a half billion, come on Metalhead I-80 doesn't need ALL that capital right away (although it would be nice to get it.) There are some low risk projects that I 80 can do that can get I 80 from cash burning to having a little bit of cash flow (open pit projects with oxide ore). The autoclave does not need to be rebuilt right away. Hopefully I 80 can extend/increase milling toll agreements with their neighboors.
Since you obviously do your research, I guess you know that our new ceo does have about 12 years of mining experience in Nevada, and who was that with, Barrick, one of I 80's neighboors. I believe that this mangement team has the 'chops" to turn this situation around. If you think they don't have the 'chops' then keep shorting I 80.
But I will state again I agree with you that gold mining investing is a messy, convulted, often frustrating investing experience. But it can be rewarding if you get it right. Happy shorting MetalHead.