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Vista Gold Corp. Message Board

  • franchen992 franchen992 Feb 13, 2013 8:50 PM Flag

    More downside to come

    Highly likely looking at the breakdown we are just now seeing from the old lows of last summer. No one knows how much, this is very dangerous territory.


    - There are too many variables. Among those are no matter all of what "should" have sent gold higher, absolutely none of it has mattered leaving it vulnerable to some actual perception of bad news.

    Perception trumps reality in the markets, often for far longer than many think. No one knows how bad this could still get. There seem to be still far too many in the gold community that fail to understand there are forces far beyond our control, the markets always do their best to make fools out of as many as possible. There has seemed to be a sense of entitlement fo a long time and taking it for granted that higher gold prices are automatic, realistically again. no one knows... too many variables involved. The expectation that this sector is going to go ballistic and be like the tech sector in the 90's showing everyone just how much smarter we all are etc. is obviously failing and continues to be a no go. At best, this is likely dead money for years to come, capital that could be put to work elsewhere.

    Mgmt. has not shown so far that they are in this for the fight of their lives, this is nothing to fool around with. An outright share collapse will do a number on future financing and plans to say the least.

    This outfit is nowhere near producing any gold. There are miners now that are producing gold, and for them it also doesn't matter, none of it. No matter how things "should" be, moral victories are meaningless. It's demoralizingto see shows like gold rush, simple blue collar guys operating on a shoestring with little in the way of resources actually mining while most of the time we just hear the crickets chirping and wonder where the millions are going with nothing to show.

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    • Don't think that "Fred" and others actually realize what's going on here, may be too late before it dawns on them. It's happened already to other companies in this sector. No matter how nice and accomodating they sound on the phone or via email, they are not your friend, and it is not a given that they actually reailze the severity of this situation. They may say they do, but talk is cheap. They obviously have been expecting a higher gold price, but have not indicated what their backup plan is if that comes unglued.

      • 1 Reply to franchen992
      • Well said! I have held off writing to Fred the CEO for a while, but I finally capitulated this morning. I wrote a frank letter, but was cordial in my approach as I hope to gain a response. I can not fathom why a company continues to crawl along at a ridiculous pace with assets such as they have in their portfolio. As you say, obviously waiting for a higher gold price, but you also correctly point out that they are not guaranteed. It is unbelievable that they are going to - apparently - release another PFS on Mt Todd, which will say basically the same things as the last one 2 years ago, the only difference being a higher resource and higher operating costs. Surely they could have applied for the permits back then and carried on drilling once the 'new strategy' was producing. It is inexcusable to continually broadcast false information. Last years share holders letter makes for great bathroom reading! We are now minority holders in 3 of their 6 projects! The share price has not been over $5 in 5 years - ridiculous and inept! They say the stock is under valued, well no wonder as the stock is generating no income for the company, and at least 2 years away from any production at all, and that is if Invecture can permit Los Cordones.

        In their analyst day last October, Fred says the Change of Land Use permit has been submitted, and is under review, I spoke to Connie Martinez, VGZ investor relations on Wednesday last week, and she says the application will be submitted within the next 2 months!!!! This is disgraceful and mis-leading and i have asked Fred to explain this to me. Even last January, he presents in NYC and says the PFS will be released by the end of the month. A 22 day window which you would expect the CEO of a company to be able to deliver, and yet they did not. It undermines the management, and causes investor fatigue. I could go on for a lot longer here but feel I have made my point. Very disappointed in this stock and how the company is being run.

        I look forward to getting back into $4 region so I can sell up and put my capital to better use.

        Good luck!

        Sentiment: Hold

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