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Gold Resource Corp Message Board

  • engynear engynear Feb 19, 2013 7:28 AM Flag

    This Day in GORO History---2/19/2012 (part 1)

    Robsharp continues with the Institutional Investor discussion and in his fervor to concoct something positive, makes a noteworthy error, thus detracting from the validity of his claim. Likely without knowing that Institutional investment positions are disclosed quarterly, he states the following:
    "It seems to increase in institutional ownership each month."

    Engynear corrects him:
    "It "seems" that way because Amadeus posts it that frequently, Rob.
    Actually, they are required to disclose only every three months."

    Then Engynear cites an historical datapoint revealing the priorities of execs at GORO headquarters in allocating shareholder capital, for a young company supposedly in its development stage:
    "In the first three quarters of 2011, this company spent more on stock options for a handful of its executives, then it did on exploring for precious metals on its properties."

    Engynear comments on the subject of following Institutional Investing by citing some specific data from Amadeus's revered investor, Allianz/NFJ. Over 75% of the the Allianz/NFJ, investment in GORO at the time was in the NFJ Small Cap Fund:
    "And if you DID follow every transaction made by Allianz in the NFJ Small Cap fund, you would have UNDERPERFORMED your index for 2 out of the last 3 years.
    That is, you could have outperformed the NFJ Small Cap fund by simply investing in a passive, pre-set fund that, as you say, does NOT have to have "people on the property and making their own valuations"."

    (ed note: After the abysmal 3 year performance cited and the GORO stock crash, does anyone here believe that the NFJ Small Cap Fund is a worthy investment vehicle?)

    Ulf puts on his "fantasy helmet":
    "...say they do 130 000oz this year, they will be a nasty money machine."

    And 2/19/2012 is noteworthy because it is the day that Amadeus began his in-your-face campaign against shortsellers with the promise that Canadian Institutional investors will come into GORO stock in droves once the 43-101 is released:
    "Although this was not my statement, I can tell you that the "more" that I would be referring to is the Canadian institutions that are waiting to invest this company. Yes, the Canadian institutions that are waiting for the 43-101 to be released.
    Oh wait, these are the Canadian institutions that have told management that they are interested. But oh no, you don't believe anything that management says and this would require trusting that management is not lying to us.
    Oh well, we will just have to wait for the release of the 43-101 and the subsequent addition of GORO to many Canadian companies' portfolios."

    (ed note: History is a great teacher, Amadeus)

 
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