I find it stunning that management is maintaining its salience while the shareholders continued to get pummeled at a time of record high gold prices.
By holding the share price down management is making this company ripe for a takeover. That is the only saving grave in what is appearing to be some very inept actions or lack thereof.
Have felt right along that this stock would move up to $12 over the next 8 to 12 months. I am now losing that loving feeling and I want to get it back. Time for management to understand that the share holders interests and their interests are the same. particularly if they want to keep control of the company long enough to start mining
That makes sense. I guess I was thinking they would not want to cut it that close and would want to seek cash sooner. But they may have plenty of time to release news that will jack the stock price up. I would certainly rather they issue additional stock with the the stock price $6 or more rather that $5 a share.
Your assumption that company should talk stock price up now, before selling shares, would be correct only in case of immediate need to raise capital. As it stands now, company still has enough cash to go couple quarters without new infusion. It means that they can save some talk for summer, when PEA is supposed to be released, moving share price up based on fundamental upgrade.
Take a look around, this is not the only pm stock getting $h*t canned during the past few days of rising gold prices. In fact, I think its decline was pretty much on par with the broader pm stock indices today.
I think warmcamp may be right that in the aftermath of the BCSC dust up, the company may feel it most prudent to not release non material information. The positive take away is that, unless as Steve puts it "the comapny is courting disaster", then we can assume that they are not sitting on negatively material news. For example, if they actually do have both 10 ton sample results and showed materially lower grades than presented in the 43-101, they would most likely have released that material info.
In other words, no news may not be good news, but it is also not bad news.
Building a mine requires added capital. Remaining silent day after day as the stock slowly slides down presents a great opportunity for the company to issue more stock than should be necessary to obtain that capital. A wise management would want to talk the stock price up before they go to the market for capital.
I case you wonder why I attack some of the faint and feeble hearted here - this is the same management which has brought Rubicon so far- yet we are beginning to see the rats swimming away from the ship - a little adversity and an absence of suppport - and silly suggestions like selling F2 for example - just imagine the logistics of that
Sure they have brought RBY where we are now. I don't like using military analogies, but here it goes...
In WWII the navy got people to the beach, and then another team took over.
Looking at the descriptions of RBY management on their site, I just don't see the experience needed to build this mine and take it to efficient production. Is it fair to the shareholders to use their money for on the job training, while DA learns how to be a mining CEO?