Post by
frankman on Sep 14, 2015 10:28am
Now that we hit the 20's 10 cent range is next
No one blames management for the price of gold but that is the reality. If they started losing money at $1220 gold and last quarter at $1216 gold sold it doesn't require the IQ of a banana to figure out the next one will be a loss.
Although I did believe that gold could sink as low as $900 range (still possible) gold is way oversold, and it may get a boost after the Fed minutes. However any gains will still fall way short of profitability here. I see no real recovery for gold in 2015 through 2016.
I think management should consider putting operation on care and maintenance for now and slow the bleeding. $13 million in debt is due in December and even with another extension cash will dwindle below debt levels.
Comment by
frankman on Oct 22, 2015 2:41pm
It took a little over a month to make my prediction correct. And remember the bad news operating loss isn't out yet.10 cent range next.
Comment by
frankman on Nov 06, 2015 10:24am
Now that prediction bore true, there is only another operating loss coming for Q4. Tax loss selling will continue with mega upwards resistance to those that only want their money back. I am not the only one who told you that months ago. The Sugar Plum Fairy has packed her bags. Merry Christmas.