Stock is down 10% because existing equity holders sold their position to the open market, which was anticipated? They sold at $13.98 but now stock is trading well below that. We were $15 yesterday. The sale does not impact the company or divi, only creates more float. Am I missing something?
I don't understand it either other than the fact that it is a buying opportunity and I went in and doubled up here. Will be at $16 in the next 15 trading days or so.
Sentiment: Strong Buy
This is a significant negative event for stockholders. A well known highly regarded company that owned almost a third of the stock is getting out. Because they can make more money elsewhere than owning it.
Now there will be more volitility because it will be owned by ever smaller players. If TAHO was such a deal . . GG wold have sold it directly to one or two funds. So now you are going to see the 2 brokerages pumping the story because they committed to sell it.
Anybody thnk it was an accident it was announed on ex dividend date?
CEO jailed for mining pollution of a river
Company Silver Mine San Rafael announced it would appeal the ruling.
PHOTO: ANTONIO CASTRO
The general manager of the San Rafael Silver Mine, owned by Canadian Tahoe Resources Inc., was jailed for signs of defiling a river and affected thousands of people from at least three communities.
"This is the first time in the history of the country in which he is sent to prison for a general manager of a mining pollution of a river, there is sufficient evidence of contamination," said Rafael Maldonado, lawyer Environment- Action Center Legal and Social Guatemala Calas, who filed the complaint.
The incident occurred in 2012, when industrial pollution of water from a river gorge Slaves, main water artery of the department of Santa Rosa, located about 70 kilometers southeast of the Guatemalan capital was reported.
According to the complaint, the mining company pulling liquid waste substances used in the exploration of minerals in the Mina San Rafael to the gorge of the river, causing contamination suspended solids and water discoloration, what He made unfit for human and animal consumption or for agriculture.
"This access to water of the communities was limited, and the municipalities of San Rafael Las Flores, Casillas and Nueva Santa Rosa, the most affected, also damaged the irrigation system of its plantations," Maldonado said.
Carlos Roberto Morales was jailed by Judge Santa Rosa, Roberto Flores, by now serve as manager of the mining and judicial investigation of the facts she has been ordered were feared interference from the truth.
Minera San Rafael said in a brief press release that the company does not generate negative impacts to natural resources and would appeal the judge's decision, which is exaggerated and do not reflect the seriousness of the alleged crime.
"Minera San Rafael is a Guatemalan company that operates ethically under national and international standards. The care and management of natural resources has always been done according to Guatemalan law ... The evidence does not support allegations of industrial pollution" said the company.
Installation and operation of the San Rafael mine has caused several violent incidents in the area. In 2012, President Otto Perez Molina declared a state of siege for a week, militarizing the area because of the violence which caused several injuries and deaths among people who are for and against the mine.
This company has hit every target and timeframe they have set. Operations have consistently exceeded expectations and beat the analysts. Solid divi and growing. For what it is, a South American mining operation, it has performed above and beyond. If silver prices go up, so will we. I am long term holder (and way more than 200 shares).
It doesn't make sense for Goldcorp to hold TAHO, now a producing miner that they do not have controlling interest in. I don't think it means they think it's not a good investment. Broker's unsold shares have created additional downward pressure though.
Reason for the down draft is a 3.4 million short position was put on TAHO recently. That's the only reason for this drop. Their shorting will abate and then back up.
The truth of the matter is that Goldcorp needed to sell taho and did it quite profitably for themselves. Its 30 calendar days sine the other posts and taho stock price has moved considerably lower. Precious metals are down in commodity pricing and the publicly available float has increased with goldcorps sale.
But the mechanics of owning taho are the same. Goldcorp needed the billion dollars to prop up their sagging cash positions . . As I said . . They made money. But the brokerages that pre bought the tah stock . . . Now they seem to have been beaten up a bit in the deal.
I wonder how much of those 59 million shares they are still holding :-)
Bring it down a little more and am big buyer..... $8.50 not seen since 2012 would be a huge opportunity...with a 2% ...... At some point between then and now you have a big V up coming.....