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Gold Resource Corp Message Board

  • matt.berry01 matt.berry01 Jul 4, 2011 9:01 AM Flag

    "Will Gold Resource (GORO) Become A $5 Stock?"

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    • Please do short this stock. Put everything you have into it. Then we'll talk in a couple of months to see just how you are doing.

      Gotta laugh!
      Amadeus

    • Revere, I'm thinking real hard about going short. One thing keeps me from putting on the short position though. How can you be so sure that Bill R. knew they weren't going to meet their production forecast on 12/2? I think the Reidsters had to know that they wouldn't meet it, but how can the SEC prove it? What am I missing? I want to short this pretty bad, but I just dunno . . . .

    • I agree with you about ALL American CEOs of public companies being overpaid etc.

      All the events I reported are easily verifiable. all came from public records. You can see all the share sales in the official SEC filings which can be even be accessed through link on the GORO website. You can read the Dec 2 presentation on the GORO website (unless they have removed it, for obvious reasons).

      Those events do not directly relate to shorting now. But they do show both: 1) that the Reids are out for themselves at other investors' expense, and 2) that everyone should be careful not to trust public statements issued by GORO management.

      Under such circumstances, confidence in GORO's future is not justified and there is abnormal extra risk to betting on it.

      MANAGEMENT'S BEHAVIOR ALSO SHOWS THAT THEY WILL WITHHOLD SERIOUS NEGATIVE INFORMATION ABOUT THE COMPANY AS LONG AS THEY ARE ABLE IF IT SUITS THEIR PURPOSE. WHO KNOWS WHETHER THEY ARE WITHHOLDING TEST RESULTS FROM OTHER CORE SAMPLES NEARBY THE REPORTED ONES, AND THAT THE WITHHELD NEARBY ONES WERE VERY POOR CONTENT?

    • I agree with you about ALL American CEOs of public companies being overpaid etc.

      All the events I reported are easily verifiable. all came from public records. You can see all the share sales in the official SEC filings which can be even be accessed through link on the GORO website. You can read the Dec 2 presentation on the GORO website (unless they have removed it, for obvious reasons).

      Those events do not directly relate to shorting now. But they do show both: 1) that the Reids are out for themselves at other investors' expense, and 2) that everyone should be careful not to trust public statements issued by GORO management.

      Under such circumstances, confidence in GORO's future is not justified and there is abnormal extra risk to betting on it.

    • Assuming that stuff is true, I don't see what it has to do with shorting GORO. I'm never one to defend any American CEO. I think they are ALL overpaid, entitled, and inclined to rape shareholders. I'd generally rather invest in an actual banana state - where at least the risks are known and discounted - and CEO pay is more reasonable.

      That said, Barrons obviously doesn't give a rip about that topic either. They have been silent on options reloading, insider trading by every S&P500 company, backdating, manipulating earnings to meet Street expectations, etcetcetc. They have been completely silent about the theft of trillions of dollars from taxpayers by every single employee on Wall Street. They clearly don't give a darn that insiders are selling (and reloading at manipulated prices to sell again) at hundreds of times the rate at which they are buying any shares of any company in America with their own money. So not sure why anyone would view Barrons or this reporter as credible on any of this.

      And even if they were credible on that topic, the impetus would be to initiate a proxy contest to force the Reids (as large founding shareholders) out of operating control. Nor would Barrons be credible on that topic either since they don't seem to have a problem with CEO/Chairman mixing at any other company. And no one on Wall Street advocates proxy battles anymore since the casino/trading mindset is what generates commissions.

      So basically - while shareholders might well be pissed at the Reids for possibly trading on insider info, there is another question here too. How many shorts knew of the contents of Barron's article before publication? That is clearly material non-public info that is designed to steal money from those without that info. But of course that's OK -- because that's the sort of theft that 100% of Wall Street compensation is based on. And one can be assured that the SEC won't give a darn about that either.

    • Yibberat:

      (Corrected text -- error corrected in #1 of prior post)

      How indicative of the richness of the properties those drill results are is an open question which will be answered over the next few years. But you are correct that the resolution of that issue will not be determined by the behaviors of the Reids and Conrad between Nov 2010 to Mar 2011.

      I described in detail the behaviors of the Reids and Conrad between Nov 2010 to Mar 2011 in a number of posts on this board during March. Essentially it was this:

      1) On Dec 2, 2010 Reid put out a new projection of gold production for 4Q2010 (he projected 15000 to 25000 total oz. for 2010 which consisted of only 3Q + 4Q). Since about 7400 oz was already reported as actual 3Q production, that meant a 4Q production of 7500 to 17500 oz. Dec 2 was already 62 days into 4Q. Since total 4Q actual production was eventually reported to be only about 3500 oz., he had to know that GORO could not even come close to the bottom end of his projection.

      2) No public announcement of the dismal 4Q production was made until 3rd week of Feb, 2011. Even then, all that was announced was the vague statement that 4Q production would be less than 3Q.

      3) When 4Q earnings were finally released in mid-March, 2011 the actual number was announced (less than 1/2 of 3Q)

      4) Meanwhile the Reids were selling their shares in December and Conrad even sold in January (when even the final dismal production number would have been known but was kept from the public)

      I hope the SEC nails these guys for these insider trades and gets them for triple damages.

    • Oh yes, I almost forgot. I would be getting a 10% dividend while I was waiting. That's so ridiculous it is stupid. How can you write such stuff? Have you no self respect.

    • Yibberat:

      (Corrected text -- error corrected in #1 of prior post)

      How indicative of the richness of the properties those drill results are is an open question which will be answered over the next few years. But you are correct that the resolution of that issue will not be determined by the behaviors of the Reids and Conrad between Nov 2010 to Mar 2011.

      I described in detail the behaviors of the Reids and Conrad between Nov 2010 to Mar 2011 in a number of posts on this board during March. Essentially it was this:

      1) On Dec 2, 2010 Reid put out a new projection of gold production for 4Q2010 (he projected 15000 to 25000 total oz. for 2010 which consisted of only 3Q + 4Q). Since about 7400 oz was already reported as actual 3Q production, that meant a 4Q production of 7500 to 17500 oz. Dec 2 was already 62 days into 4Q. Since total 4Q actual production was eventually reported to be only about 3500 oz., he had to know that GORO could not even come close to the bottom end of his projection.

      2) No public announcement of the dismal 4Q production was made until 3rd week of Feb, 2011. Even then, all that was announced was the vague statement that 4Q production would be less than 3Q.

      3) When 4Q earnings were finally released in mid-March, 2011 the actual number was announced (less than 1/2 of 3Q)

      4) Meanwhile the Reids were selling their shares in December and Conrad even sold in January (when even the final dismal production number would have been known but was kept from the public)

      I hope the SEC nails these guys for these insider trades and gets them for triple damages.

    • Yibberat:

      How indicative of the richness of the properties those drill results are is an open question which will be answered over the next few years. But you are correct that the resolution of that issue will not be determined by the behaviors of the Reids and Conrad between Nov 2010 to Mar 2011.

      I described in detail the behaviors of the Reids and Conrad between Nov 2010 to Mar 2011 in a number of posts on this board during March. Essentially it was this:

      1) On Dec 2, 2010 Reid put out a new projection of gold production for 4Q2010 (he projected 15000 to 25000 total oz. for 2010 which consisted of only 2Q + 3Q). Since about 7400 oz was already reported as actual 3Q production, that meant a 4Q production of 7500 to 17500 oz. Dec 2 was already 62 days into 4Q. Since total 4Q actual production was eventually reported to be only about 3500 oz., he had to know that GORO could not even come close to the bottom end of his projection.

      2) No public announcement of the dismal 4Q production was made until 3rd week of Feb, 2011. Even then, all that was announced was the vague statement that 4Q production would be less than 3Q.

      3) When 4Q earnings were finally released in mid-March, 2011 the actual number was announced (less than 1/2 of 3Q)

      4) Meanwhile the Reids were selling their shares in December and Conrad even sold in January (when even the final dismal production number would have been known but was kept from the public)

      I hope the SEC nails these guys for these insider trades and gets them for triple damages.

    • Can you imagine how great it would be if this became a $5.00 stock again. I could buy like 50,000 shares and watch it go up to 30. Gold is gold, you fools. As Goro says "Earnings are Opinion, Cash is Real"., well "Gold is Gold", and I'll take it over cash any day. Someone is going to take 5 of those little green pieces of paper for shares of ownership to bunches of gold. In the words of the famous Harry, "Make my Day." JMHO

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