Today’s release (delisting) is just another step in very logical chain of events. Shareholder value is getting destroyed here and this process is ongoing. Please, do not blame management. It would be unfair at this stage. Situation was too transparent for long time, and any person still believing in CGR investment case should blame him/herself.
By the way, hopeful, are you still around? Please update on your average-down campaign. Thanks.
Sure, I'm an optimist. This move is a good one for the company and shareholders since it will save significant money. It is/was stupid for a company of this size to have NYSE listing.
Nothing changes for those of us who own the shares.
Nothing changes if you want to buy shares.
Nothing changes if you want to sell shares.
The only change is less administrative expenses for our company and a better bottom line. Pretty good move if you ask me.
I disagree. I'm one of the largest shareholders, at 4.5 million shares, and I'm not happy with the decision in the least. I think it's going to decrease the liquidity in the stock, as well as the potential rally the stock would have if gold rallied, or if they did any number of shareholder value enhancing moves. That having been said, I agree with you that the stock's dropping further (as I fully expect), will be an opportunity to average down even further.
My own work shows that there is a lot of asset value in this company, and that the current stock price does not recognize that asset value. However, the big problem is that, if gold drops to $1000 an ounce, then all bets are off. (I'm tempted to hedge my position here, by shorting gold, but i'd really like to see gold rally first.)
My the way, the removal is from the old AMEX stock exchange, not the NYSE.