...has to be the dumbest way to invest in a junior mining company ever. Sure, nothing ever changes with a junior mining company. They always hit their estimated production marks, always do things on the up and up, etc. LMFAO. You have to be as dense as dark matter to think that a 6%, 8%, or 10% dividend payout makes it worth investing in this rotting pile of garbage.
Great, with a 10% dividend you'll be paid out in 10 years, too bad the company only has 3 or 4 years worth of metals. LOL
During SORO's first year of production, daddy's boy President Jason Reid constantly pointed out that stable PM producers that paid dividends yielded a 1% rate of return and he felt SORO must be judged based on yield....therefore SORO needed to be valued multiples higher than its stock price. Cult enthusiasts like Always Wrongadeus grasped onto the concept by claiming SORO therefore was a $50-$60 dollar stock.....of course they ignored more relevant issues like resource size and peer valuations. Even when you pointed out current valuation was higher than the value of proven metal in the ground, they covered their ears and regurgitated the Reid bullet points. Amazing.... seemingly educated people choose what they want to hear and ignore what interferes with a great story.
Lesson learned....right Wrongy
Exactly. You have to have been mentally #$%$ to think the company was worth more than the value of in-situ metals. It's one thing to have not known that and learned it and changed your mind, but to have learned of that and still thought that the stock was fairly valued is unbelievably dumb. It astounds me every time I think about it.
"" they covered their ears and regurgitated the Reid bullet points. ""
That was truly the amazing part. They covered their ears and maintained blind faith in the Reids.
They also claimed we (the shorts) were wrong just because institutions were buying the stock. Gee, those institutions didn't do so well, right? The buyers of the $16 private placement have gotten killed.