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Comstock Mining, Inc. Message Board

  • mmitty60 mmitty60 Jun 29, 2014 7:21 PM Flag

    The dilution

    My take is dilution will pay for expanded drilling which proves reserves and allows for mine planning.
    Prove the metal and the company is worth far more, which drives up pps.
    I also feel the 1.59 share premium was directed to "friends of funds or insiders" Knowing full well plans for
    the future include accumulation of shares at low cost as mine activities will drive up the PPS.
    A very solid business move for us all in the long term, but lousy for a few months.
    These are smart business men.
    I suggest any and all attend next years meeting or the 150 year statehood party in late October.
    Any questions?

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • Dilution is going right into the pockets of Winfield, and Comstock Mining Inc., make no mistake, this broke 1.50. Stocks that do, typically go down to a dollar eventually. Buyers beware...

    • fredrickson.loceng@gmail.com fredrickson.loceng Jul 2, 2014 11:42 AM Flag

      Seems like dilutions are always followed by some kind of "Good News" to ease the fears of those who are watching their investment share dwindle.

    • Thanks for all the updates so far and I am looking forward to hearing more from you and any other attendees. I agree with Mr Skokos about self financing being the better route and look forward to the day when CMI is able to pay all expenses out of income. The dilution didn't shock me much but the price of $1.59 really bothers me. I suspect that you are right that it was directed to "friends" and that makes me uncomfortable. It is not ethical, legal or moral to give that edge to insiders. I know it happens frequently in the business world but that doesn't make it okay.

      I am still happy that I was able to increase my holdings at $1.67 and expect to see a very good return but have less confidence in the character of the company. Every step along the way I could see the rationale of the decisions made and I had full trust and confidence in the board and management. But when they not only made a dilution but also devalued the stock price from its last offering and the market price at the time then I have a problem with the decision makers. If they are comfortable with that kind of behavior then what other behavior will they be comfortable with?

      So I still believe in the future of this company and in its decision makers enough to hold onto what I have on hand. I hope that this is an outlier and not indicative of future actions.

      Do you think that it is okay to undervalue the stock price for friends of funds or insiders?

      Sentiment: Hold

    • fredrickson.loceng@gmail.com fredrickson.loceng Jun 30, 2014 9:48 AM Flag

      Me thinks management has come to the dilution well a little too often. Might be time to bail.

 
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