Whateverrr,
I'm a new poster as of yesterday and only have one poster name and have no intention of ever having more than one poster name. I've read Stockhouse posts for years now and have never posted because frankly most of the posts are just banter over varying opinion with little or no facts to back them up. I created a Stockhouse account yesterday for the first time only because I had some factual information that I felt was important enough that should be shared.
The fact that VGCX share price is where it is today is mostly because of the US approach to fighting inflation by using rising US interest rates and US dollar appreciation and less to do with VGCX management at this point. Anyone that has done their homework knows that nearly all gold stocks (including the major are down 50% or more and at or near their 52 week lows and so this is not just a VGCX management issue.
You do post many good posts that offer a different perspective and I won't dispute that VGCX management hasn't made some mistakes along the way but overall I think they are learning from those mistakes and are working hard to get this mine up and running. I noticed that no one mentions the 5,000 ounces a month VGCX has hedged at $2,004 an ounce. A few months ago when everyone thought gold was going way higher hedging seemed foolish, yet $2,004 and ounce looks pretty good right now. Do you honestly think that the CEO is happy with a $7.50 share price with 750,000 plus shares? My understanding is that his average share price is around $8.00 so he is underwater today like most shareholders and unlike most of us, when his shares fall .10 cents that's a $75,000 drop. Imagine what his portfolio was worth at a $22.00 share price only a few months ago and what it is worth now, and he has yet to sell a single share. Do you think he won't be doing everything in his power to get the shareprice higher?
How is it that VGCX market cap is at $500 million CAD, VGCX net asset value is around $1 Billion with a 65 million share float? Hell, you couldn't even build the operations aspects of the mine at $500 million CAD in todays world let alone adding in the value of the current reserves! My guess is that once the US dollar stops rising (could get to 1.33 CAD yet) and they stop increasing interest rates, the gold price will move up and 3 to 12 months from now we'll all be looking back and wondering why we didn't back up the truck and buy as many VGCX shares as we could at this price. I wouldn't be surprised if VGCX doesn't start buying back their own shares soon if the shares go much lower. And I also wouldn't be surprised if someone doesn't try a hostile takeover of VGCX at this price. Watch the upcoming Q3 production results for ia sign whether things are improving and my guess is that we will pleasantly surprised.
For those that have to sell, at these prices it's really too bad because my guess is that someone is trying to acquire as many cheap VGCX shares as they can and will work hard to get this stock price down as low as they can. I'm not selling a single share at these prices and continue to add to my position.
OK, now I know why I didn't create a stockhouse account until yesterday....posting is way more time consuming than reading!
RE:RE:Stock Price
See The quote below
Honey Badger....thanks for creating a brand new screen name...MVargass thanks for coming in to support the posts with overly glowing accolades. IT is like when you and OCD used to go on and one about each others amazingness. haha.
This is not my screen name and I don't know them.....imagine that....someone else including the entire market says to be cautious about some VG stuff....