"Bell will correct me and say it is every 3.5 seconds!"
LOL As a fanatic for facts , the number in 2013 for the US was about 8.0 seconds. :-)
What is interesting is that if you look at other destroyed stocks the message boards look exactly the same. Just change the symbol. MCP comes to mind. Stock down from $80 to .40 MCP history very similar to NAP - over budget, over schedule , underperforming projects, massive debt and mgt with no epts. The also faced a crash in the price of their products. Upcoming re-org there also.
"When will the ever learn, when will they ever learn?"
Same enchantment with a penny stock. People like to say they own 100,000 shares (of anything). Doesn't matter that NAP will soon be under .01 So they pay .035 and hope.
It is very likely you will get more as a offset against gains than you will if you will hold it. If for example you bought at .50 you will have a .46 loss. In a 25% tax bracket that will be worth .12. PALDF would have to go to .16 to do as well as taking the loss. And if PALDF goes down more? The hardest part of investing is selling a losing stock - not only is it the money but the admission that you were wrong. That's what stops are for - to take the emotion out of it. GL
First of all you will "get" nothing. You will keep the shares you have but additional shares will be issued to BAM and the deb holders so that current stockholders will then hold 2% of PAL vs the 100% they now hold. That would be a 50:1 dilution. It would not be unreasonable for the stock to then trade well under .01. Concurrent with this dilution there will be a reverse split - could be anywhere from 1:10 to 1:40 so when it happens the price mayl look higher but you will have many less shares.
Also it doesn't matter how many shares holders there are but the number of shares they hold.
I agree. If 730 doesn't hold then 700 looks like next support and then I see nothing until 600. Strong dollar is a continuing headwind. Wonder how close the vote was.
I don't like a bonus tied only to something not under miners' control. If PD tanks can lead to bad feeling.
A two pronged bonus tied to oz produced and Pd price (with a floor) might be better. But that is very close to profit sharing bonus which might be the simpler solution.
I didn't mention it (or anything else) because I have no first hand knowledge. Just quoting the CBC article. You beef is with them (and NAP for not releasing info that clarifies (!) the situation).
cbc DOT CA /news/canada/thunder-bay/lac-des-iles-tailings-pond-overflow-raises-concerns-1.3104275
"The Ministry of the Environment says the release so far involves 120,000 cubic metres of water, with elevated levels of suspended solids, aluminum and iron."
For those metrically challenged 120,000 cubic meters is 31.7 million gallons = 120M liters
BILLINGS, Mont., June 11, 2015 (GLOBE NEWSWIRE) -- Stillwater Mining Company (SWC) reported today that union employees at the Company's Stillwater Mine and Columbus processing facility, represented by the USW International Union Local 11-0001, have failed to ratify the tentative labor agreement reached on May 27, 2015. The Negotiating Committee for the Union and the representative for USW International had unanimously recommended that their members approve the tentative agreement. ....
From 2/15 PR
Capital expenditures in 2015 are expected to be less than $37 million and will include approximately:
$11 million for underground development;
$13 million on the tailings management facility;
$5 million on mobile and production equipment; and
$8 million for all other expenditures.
Note that biggest item is TMF up from $5M one year earlier (see below)
From Jan 2014
With Phase I of the mine expansion now completed, the 2014 capital expenditure program for LDI has been substantially reduced to under $30 million. Key expenditures from the program include $11 million for capital development, $5 million to expand the tailings management facility,
Note $5M for TMF.
From 2014 annual
• Capital expenditures totaled $109.5 million with $91.8 million spent of the LDI mine expansion, and an
additional $20.5 million spent primarily on the tailings management facility.
$20M for TMF in 2013
$5M in 2014 cap budget
$13M planned in 2015 (bet that is way up now)
So TMF has been a know issue for quite a while. 2014 looks like an underspend maybe because of lack of money.
For everyones sake hope this doesn't become another Mt Polly.
No update from TBNews either. Remember what happened with the fatality? Just a brief PR the next AM saying operations had resumed. What they didn't say was that it wasn't full or normal operation due to MSHA work orders and that production was disrupted for over two weeks. I suspect worse than initially reported "controlled release". And is mill still shutdown? Voluntarily or MOE work order halt? What about cash?
"Fools," said I, "you do not know
Silence like a cancer grows
Hear my words that I might teach you
Take my arms that I might reach you"
But my words like silent raindrops fell
And echoed in the wells of silence
Simon and Garfunkel - Sounds of Silence
I think it is just penny stock traders that know nothing about the company. When it drops to .01 they will say its a screaming buy. Dollar volume has been running under $25K.
" palladium bull market and geopolitical instability that will no doubt drive the price to $3000000.00 an ounce"
And don't forget the US Pd coin that one poster a few years back estimated would use up 10,000,000 oz.
And all the PD needed for cold fusion (ooops LENR sounds better).
All this and in a mining friendly environment, Wow.
Much too much risk to try and make it profitable. Not clear if that is possible at any rational cost. Meanwhile PD keeps slipping. Also spill is open ended liability. IMO no buyer will touch it now. BAM can afford to take $125-150M write off and run. Could they even give it away now?
What about the $50M backed rights offering? Is BAM on the hook for that?
I expect a mining shut down soon either voluntary to preserve cash or an MOE order.
On thing for sure, the lawyers are on the clock.
Still unbelievable silence from NAP.