Post by
btrevorb on Feb 26, 2015 12:00pm
Hello Gramps
Yes I did call this event but not everything worked out the way I would like, especially my oil plays. I dumped most of my holdings when she started to fall from 0.27 (still holding 20% per my rule) there were few buyers so I did have to sell all the way down to 0.185 and then some. (and only got the first bite at 0.24)
When they started making their news releases and financials so convoluted even the pro's couldn't figure them out it was time to lighten up even more, then the multiple "restating of projections" - nail in the coffin. Since that day I have not found a reason to get back in even though I have been watching and waiting. Remember she treated me well for years when swing trading was quite profitable.
My across the board trades to YRI, OSK and AEM are both up and down. YRI has been basing for quite awhile, I'm down 38% from first cross, then up 31% bottom fishing so nearly a push. YRI pays 0.015 dividend so about one MTO per share per annum. YRI and AEM (up 28.5%) sold royalties to OR effectively amortizing the play (not really my style but reduces risk). After a very bumpy ride OSK (now OR) is up and recent events should see it climb higher, it now pays 0.03 dividend per quarter (nearly 3 MTO per share per annum) They are still losing money but only 0.05 per share at nearly $17 so not as significant as MTO who is losing an estimated, well let's see now...
25% total share dilution + 9% to brokers (I have always said brokers are the only winners here) Approx. cost per ounce exceeding profit by at least $240 at current grade (IMHO) as always the financials will tell the tale as management seems to think they have "no fiduciary obligations".
More money for drilling can only mean Dread drill results thus far. (again opinion only - lawyers) Another obligation to raise funds and the kicker, the biggest kicker of any and all gold miners.
GRADE! It is falling faster than projected, expected, even possible unless there is something we don't know? And we are all tired of not knowing because it's never a good surprise.
No fancy new car this year but at least I am not down 80% and about to be diluted into oblivion. Most of the posters here don't remember that we were here before they awarded themselves options at 0.67, the day the worm turned. Anyone who says that management is looking out for the shareholder has not seen this occur again and again. The big joke is not even one has been able to exercise ANY options due to consistent falling sp, in both good times and bad. Taking care of their own management has upped their salaries and purchased less open market shares than my meager current holdings. You know things are bad when the ever optomistic Ceasars report expresses concern.
GLTA - trade with your brain not your heart. As Gramps has pointed out I'm pretty heartless at times.
BT out.
Comment by
pdcon1 on Feb 26, 2015 4:42pm
BT HEEEES BACK DONT KNOW IF THATS A GOOD THING hees all wound up anyway