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Vista Gold Corp. Message Board

  • cherk_on cherk_on Nov 19, 2013 8:58 PM Flag

    Is it time to buy?

    1. Since tanking in September after being dropped from the ETFs, share price has been relatively steady, so it appears to have bottomed out.
    2. Financials have improved since September due to sale of Los Cardones for $14mm in October and extension of term loan to 2015.
    3. Value of Midas is increasing.
    4. Multiple options for funding: Colomac mill equipment sale, potential joint venture or sale transaction for Guadalupe de los Reyes project in Mexico, and potential sale of other non-core assets. The can also get partner for Mt. Todd, or sell some Midas stock if they get desperate enough.
    5. Senior management took voluntary 20% reduction in cash compensation and eliminated cash bonus for 2013.
    6. CEO bought 30,000 shares last Friday. It's not a lot given the share price and his current holding, but better than nothing.

    Seems like a good entry point to me.

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    • Pay attention to LEVEL 2 and whether there is an ISO trader making a lot of 100-share transactions. As long as that trader is there, this stock may be stuck at current levels. Of course, it is possible this ISO trader also eventually may propel the stock upward. Either way, this trader seems to be controlling the Buy and ASK on this stock, which makes an investment here quite frustrating.

      Also, while VISTA seemed the cheapest miner in late September (when it first broke 50 cents) and while it remains super cheap, if not cheaper, there are now a number of explorers (for example, Radius, whose share price equals the value of their B2Gold shares) and prospect generators (Mirasol, whose market cap resembles their cash on hand) trading for cash and cash-equivalent assets.

      Anyway, thanks for sharing the insider buy info too. I personally think VISTA is the cheapest route to being invested in MIDAS (at current prices), but MIDAS has jumped 20 percent since I had that notion (and since i moved money from MIDAS over to VISTA), and VISTA has remained flat to slightly negative.

    • For #5, I should have included the restructuring announced earlier this month that elimanted 9 positions, including senior positions. That should help slow cash burn.

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