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  • engynear engynear Feb 24, 2013 9:53 PM Flag

    This Day in GORO History---2/24/2012---part 1

    It's Friday. the stock will close above 26 and the GORO bulls are a noisy thundering herd.
    Ulf starts the day off with his ever-present ignorance from across the pond. He expects the 43-101 to come out along with the Q4 earnings press release in one week and says:
    "Pretty sure they will give more info than just a measly 43-101 at the same time. IF it was bad. No thinks it will blow your mind, but hopefully around 1.3-1,5, They have taken a few ounces away from the ground already. What is important is the prospects of increasing it in the future. The wording will be much more important than the actual numbers imho. Unless they stink"

    Engynear believes that the company is at a crossroads, an "inflection point" at that very moment as regards to cost:
    He expects production costs to start to double on a unit basis:
    "The new and higher cost structure for mining and milling La Arista ore will kick in. Production costs should double on a per tonne basis. .....Would also love to know why they have kept exploration expenditures so low for such rich properties ("rich", as they have told us) ie, why is management not "walking their talk" with exploration costs?"

    This commentary by Engynear causes Rapier to give his brief assessment of Engynear:
    "What a total hypocrite."
    Amadeus, also upset at Engynear's warning of a spike in costs, replies, not to the substance of Engynear's post, but rather with the following:
    "What a total jerk. 2012 - Year of the Longs!
    Amadeus"

    Natasha responds to the common "one last gasp" prediction by the longs about the shorts:
    "That's what you said back in September, too. It's always "one last gasp" before the stock goes to $40. The only problem is that the stock doesn't get to $40."

    And Natasha gives a clever response to Amadeus when he says that the shorts are looking at the light of an oncoming train in the tunnel:
    "That's not a train, amedaus. That's a management team with a flashlight telling you that they're a train. I like the fact that you believe them."

    Ipdaily reports of the conversation on the Private Board:
    "The cultists are starting to wake up. Leader and most distiguished poster RIVAL states that the Reids are delaying because they can't find enough ounces. Wrongadeus agrees with this assertion. "

    Rob (not so) Sharp, as he is called by Ipdaily69 actually makes a call for a $1000 stock price:
    "When they disappear and there is nothing but GORO to $1000, that is when I will be worried."

    Natasha asks him:
    "Rob, do you think that a $1,000 stock price is more likely than $14?"

    Natasha asks engynear, referring to his "company living on borrowed time" comment, when he expects costs to run out of control. Engynear targets Q1 for the problem. He says they will opt to drop production rather than show a dramatic rise in costs:
    "But in my opinion, Natasha, in this quarter, Q1.
    I think management pretty much has a "Hobson's Choice" of:
    ---not hitting projected production levels but keeping higher costs somewhat in line
    or
    ---hitting projected production levels but incurring out of control costs.
    I am marking my calendar Friday, May 11th for a very interesting conference call that morning. "
    "I believe management will have its hands full attempting to explain away either why they have not met the production levels they have touted (if in fact they do not) or how costs could have eaten so dramatically into their business (if they actually DO try to hit the projected production).
    I am betting on the former over the latter because missed production levels can be explained away with anomalous events (remember that word?) and possibly keep the expectations alive. "

    (ed. note: Engynear was one quarter early on his prediction. And management actually cut production AND increased costs in Q2)

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    • Commendable catchup, Engy. Haven't bothered reading any of it. But it is sure fun seeing you spend all that time putting it together, when nobody really cares!

      • 3 Replies to amadeus4153
      • "Commendable catchup, Engy."
        You are very welcome Amadeus.

        Amadeus (Feb 22nd) "Engy, you haven't been keeping up with your daily "GORO a year ago" compilations. They were so entertaining."
        Amadeus (Feb 25th): "Haven't bothered reading any of it. But it is sure fun seeing you spend all that time putting it together, when nobody really cares!"

        It looks like you're taking your historical record of lying about the facts of this company to a different level. Now you lie in your personal attacks to those who have exposed this company for the fake that it has been..

        History is a wonderful teacher Amadeus. Just the exercise of putting these posts together is reward enough for me. I believe they are very revealing.
        Having looked at the history back one year, I totally understand why you would not want to re-live your past mistakes. But when I lose on an investment mistake, I consider it IMPERATIVE to learn from it. Otherwise I got nothing out of it, other than a smaller portfolio. If you feel comfortable with your lportfolio osses AND ignorance, then good luck to you.,

      • where is your weekly report?

        Sentiment: Strong Sell

      • But keep those short interest reports coming.....keeps you believing you're relevant.

 
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