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Barrick Gold Corporation Message Board

  • bobbleaque bobbleaque Nov 17, 2013 10:45 AM Flag

    Underwriters Can't Get Rid Of ABX Worthless Shares

    Needless to say, the over allotment option was not exercised. As expected, the underwriters will take a bath and dump these unwanted shares onto the market soon, crushing the stock price. It also slams the door on ABX raising more capital, which it still desperately needs to fund all the money pits.

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    • Equity offering was poorly planned, poorly executed, and shareholder unfriendly, diluting the shares held. But then again, pretty much everything ABX management has been doing lately is that way. One bad decision after another. People can say it's not all managements fault, it's the collapse in the price of PMs, but that was also partially Barrick's fault when they lied about completion dates and Gold streams from Pascua, giving short hedge funds like Soros, JPM and Rothschilds the opportunity to heavily short the paper market and crash the price of gold. When ABX goes bankrupt, which they eventually will, it will be well deserved, but once again shareholder unfriendly.

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