ABX thoughts. shorts/longs let me know what you think.. please no pump/bash thx.
got out just now selling afterhours. from 18.80 and took a loss. how low do you guys see this go?
i still see this going down for a few more days.. (maybe 14-15??). but it's a good stock to hold for dividends i believe. Like i stated before, under book value, dividends, and has been in business since 1985. Even if they BK and liquated all assets it's still worth more than $16.60. gold is still going down as i'm typing this post..@$1279..
When Barrick tries to mislead investors about Pascua Lama ownership then this is what can happen. Barrick doesn't own titles to the deposit of Pascua and is ignoring a 2001 court ordered injunction. The chile courts have accepted criminal charges in relation to Barrick fraudulent use of these title in Barrick Pascua Lama Protocol. Barrick also included. These title into Barrick Pascua Lama SEC 6K and OSC 43-101 regulatory filings.
Barrick tired to keep this issue quiet and has had the help of the Chile government but the Chile legal system has after a decade caught up to them and this Pascua title fraud.
TECHNICAL REPORT LOCATION: MINA PASCUA (PASCUA-LAMA) PROJECT, CHILE
Catalino Albanez Vergara, Ingeniero Ejecución en Minas [T.N.: This appears to mean Mining Enforcement Engineer; hereinafter I.E.M.], Expert Mine Surveyor since 1980 and Court-accredited Expert for the Appeals Court of La Serena, domiciled at “Pasaje Los Olivos 955”, La Serena, hereby states:
1.-Nevada Mining Company 1994 PASCUA-LAMA PROJECT THE AMARILLOS 1 THROUGH 3000.- This mineral deposit (PASCUA-LAMA project) is located inside of the AMARILLOS 1 THROUGH 3000 mining properties and it is in turn located within the groups of mining properties TESORO FIVE and TESORO SEVEN, where they are located as shown in the report presented to COREMA and the pertinent entities and public opinion for the purpose of obtaining the corresponding sectoral permits for the development of the mineral deposit denominated PASCUA-LAMA, which is complemented with photographs from “GEOGLE” [presumably “GOOGLE”] showing the whole yellow mountain (alteration deposit) which is also mentioned in the official Survey Record, in the chapter entitled “Acceso al HM” [Access to HM]; the same is described in later surveys of the TESORO FIVE and TESORO SEVEN groups.
CONCLUSIONS REGARDING LEGAL TITLE AUTHORITY AS AT JUNE 15, 2011. To this date there are no valid marginal annotations on these title deeds in the name of Barrick Gold Corporation-ABX of Canada, Barrick Chile or Minera Nevada Limitada, according to an original copy of same which I have before me. The original 2011 copy DOES certify by means of a marginal annotation the litigious rights of Mr. Jorge R. Lopehandia Cortes as the first-claim legal right to title.
FINAL CONCLUSION The properties LOS AMARILLOS 1 through 3000 and TESOROS should not have been included in the list of mining properties as being the property of BARRICK GOLD CORPORATION-ABX of Canada, due to the fact that these properties have not been nor are they now registered in the name of said firm at the Registrar of Mines of the City of Vallenar, in the Atacama Region, Republic of Chile, in conformity with Chilean law. Moreover, these title deeds could not have been transferred or sold or contracted in any manner whether in Chile or abroad due to the fact that a prohibition is in place, granted by a Chilean Court which prohibits the carrying out of actions or execution of contracts
Congrats. you will see more clearly now. I've said for quite awhile now, this thing is going to 12.
I could care less either way, i just count my lucky stars i'm not trapped like a rat.
Right now, this is officially the worst stock on the planet.