Post by
Shermandrock1 on Feb 06, 2019 12:57pm
Another day, crickets from Management.........
I suspect, yep strongly suspect that Management is precluded (either self-imposed or by regulation) from providing an operational update as they are negotiating a buyout, and more likely a takeunder. I cannot help but think of that past article wherein the author reported that recoveries were 91% yet asserted that he did not receive guidance or consult with management. Really? Who comes up with 91%. Yep 91%, not 90% or 92%, but 91%. Silly, eh? In addition, his target: $8.50 (or could be $8.25, not sure, took drugs when I was young......see what happens to your brain on drugs?). So, as you can tell, I too did not receive guidance from Management and for the record, neither did anyone else. Why the news blackout but for the marginal drill results? My guess, Newmont, post combination with Goldcorp, wants to streamline their operations and is selling their stake. The other major shareholder folks likely want to jump aboard. If you recall, the "big 3" recently participated in the latest offering at $4.25. My, my , my the takeunder price of $8.50 would exactly double that price. A coincidence, I'm sure. If you scan the recent prices, a 30% premium applied to the 20 day vwap would just about bring us to the $8.50ish price range. Yep, that is my $0.02 fake news for the day other than of course the rumor that I am starting that recoveries are 141%. Yep, 141%. Can you believe it. They are recovering gold that they didn't even know was in those rocks. Talk about efficiency, eh?
Comment by
Wineaux on Feb 06, 2019 4:42pm
Between Jan. 25 and Jan. 28, chairman Terry MacGibbon sold a total of 100,000 shares of Torex Gold Resources Inc. (TXG-T) at an average price per share of approximately $14, reducing his portfolio’s holdings to 57,800 shares. Proceeds from the sales totaled over $1.4-million.
Comment by
riverrrow on Feb 06, 2019 10:13pm
All things considered I suppose a $8.50 buyout in the near future would be acceptable. GLTA.