1. HL buys Greens Creek for an exorbitant amount of money
2. Almost goes belly up because of it
3. Then the EPA rapes HL with a lead pipe with the colossal $300 million fine or whatever it was.
4. HL miners die left and right in the mines because of shoddy safety measures.
5. LF closes and producers nothing.
6. LF opens and stock goes down.
7. Last but not least, Baker walks away with MILLIONS each year because his salary is what is important
Exactly. The real curse came the day Baker came on Board. He is not CEO material and you can be sure they will blow the call on Monday. My sense is that the Baker Boys want to keep the price of the stock low so that they can acquire the assets of the company through low priced options. Assuming there is some accuracy in the annual reports, there are substantial assets in the ground, but they are not being converted to profits. Of course as Will Rogers said "A mine is a hole with a liar standing over it."
you are being generous when you say shoddy safety measures, there were no safety measures. Last miner to die had no safety training, and no safety equipment. I am also puzzeled as to why Baker is still there, seems he was doing anything but paying attention to HL business in 2011
Baker must have naked photos of all HL's board members. As HL's leader, he enabled the ridiculous debt package to buy Greens Creek. His bonus in 2008 was tied to the addition of new silver assets, compliant ounces. Time to Buy Greens Creek. Baker had a big payday in 2008 due to the GC's insitu silver . No, Baker wouldn't sell equity at $9 or $10 to eliminate GC's debt but after the 2008 crash, he was paying down Greens Creeks debt with new shares under $5, as i recall, some new shares under $3. Can that peacock .
At any other company management with such aptitude would be booted out long time ago, but not at HL. HL has very good assets but the worst management.
Baker now promising that LF will produce 2M oz for 2013 - hahaha. LF was mining 1.5-2M when it operated full years in the past. Now I strongly doubt they will mine 2M from March to December 2013 even with the shaft upgrade.
HL fanatics should prepare for more under performance. Buy the way CDE is ramping up gold production and not lying to its shareholders.