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AuRico Gold Inc. Message Board

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  • Why do people sell stock, especially below purchase price and below market spot? They have to raise cash. That’s the only (besides imminent EXK collapse that seems to be far-fetched) reason available and if it’s the only one then it can be applied to Aurico sale too.

    One may say, wait they just sold Ocampo for $750M. It seems to be good money solving all cash problems. This consideration adds another detail, actually. Ocampo proceeds will be available in December only and today’s sale means that company needs in cash right now; December would be too late; i.e. they probably have some vendor bills on hands that must be paid now.

    I understand that explanations above can sound incredible, but I can’t come up with any other. Frankly speaking, recent events defy common sense.

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    • Vendor bills that require immediate attention? Doubtful. AUQ has some cash on hand. What the f___ is AUQ's management up to. They must have a target in mind for all this cash. Dividend aside, it would be a crying shame to sit on the sidelines with too much cash as the Precious Metals sector really heats up post election.

      IMHO , Timing is everything and the time is NOW to have your ducks in a row for sovereign economic disappointments that have led us to massive currency creation. Post election, the printing presses go into top speed. Tax revenues? Fiscal discipline? Not a chance...

      Is AUQ'S management going to miss this? I don't want cash. As a shareholder I want to participate in the precious metals business. Let's hope these guys know hat they are doing.

 
AUQ
2.96-0.05(-1.66%)Mar 27 4:03 PMEDT