Today, I believe, illustrates how poor a reputation Hunter Dickinson has amongst the investment community. Remember last quarter they had three loads of analysts out to their mine. TGB reported earnings and the stock fell 30%.
Today TGB was doing just fine. Then, when the CC started the stock plunged 15%. We had fabulous earnings tainted by not issuing a PR on Friday, followed by a PR that didn't even have earnings per share on it, nor did it state if the numbers were Canadian or US dollars. Compentent miners, yes. Incompetent public relations and accounting, a resounding yes.
Unfortunately, going forward the stock will have to overcome not only massive overhead resistance, but the inability of HD to adequately promote the story.
It seems HD has a problem promoting Northern Dynasty, which is supposed to be going through a bidding war by gold mining majors. Its price is hovering just above 52 week lows.
I was told by a long time mining observer that HD had a good name, but that they just aren't what they used to be. For myself, I am going to stay five miles away from anyother HD company.
(I was told by a long time mining observer that HD had a good name, but that they just aren't what they used to be. For myself, I am going to stay five miles away from anyother HD company.)
that is a conclusion that i came to recently also. i own kmkcf another hd company and will be watching it very closely for a good exit point even though i feel there is good potential there. i just don't feel that the small investor has a chance with all of the dilution that goes on with hd.
Hunter Dickinson could straighten all this out very simply. They could put truly independent directors on the boards of their companies instead of the same people on all of them; they could promise not to re-price their options when market conditions are bad temporarily, such as now, after all we as investors have had to take chances too; and they could reinvest money in their mining projects rather than use their re price options, etc., to start up new companies at the expense of the shareholders of the earlier companies. Finally, they could stick around and see companies through to completion as they appear to be doing with Taseko, at least through Gibralter, although they have not been forthcoming enough about Prosperity. They are great at identifying properties...they don't need the nonsense and the the three card monti illusions. donhamde