If they cut the dividend to .05 stock will fall to $12 without too much resistance.
That still leaves GORO with a 5% dividend.
GORO is being priced on bullion prices for the time being.
Add on the dips if you are an investor.
Goodluck to shorts your luck has run out.
I bought in at 12.52 and feel good at the moment call me a knewbe but don't investors need to be in by April 11th to get the dividend don't you expect the price to rise as that date gets closer ? Were we not a little over sold with that date being so close just saying i think so
Of late, SORO has risen the day before record date, then falls post date. Two points to consider. 1) Current metal prices are substantially lower than the average price SORO secured in Q4. Using equivalent production amounts seen in Q4, gross revenue would be 20% lower ($4.5 mill) using today's PM prices. 2) Because revenue will be substantially lower/ounce going forward, the probability that SORO will cut the dividend this month has increased substantially. Though this announcement most likely won't get issued until well past record date, I personally wouldn't chase a 6 cent paycheck knowing the issues near at hand.
FYI...management has dropped several hints that the dividend is on the table. The latest hint was management proclaiming a 39% payout based on gross mine profits was too high and SORO wants to achieve a long term payout around 33%. Since this statement, PM prices have dropped and compared to Q4 average silver price of $36, silver is down 25%.
FYI #2...SORO pays out $4.5 million every quarter in dividends. At current prices assuming equal production of Q4, SORO revenue will drop $4.5 mill.
Something has to give.
I advised to buy on the dips is true but I have all I want so I don't buy myself.
Sold most of my shares at $25 to $27 and bought oil stocks that pay 5 to 8% dividends.
Currently I am building large postions in the state of Nevada.
GLTA except the shorts.