and about 4 paragraphs longer
Maybe spanspur is in a quite period as he involved in a new funding round. Unless they fix their business model, new money does nothing.
"and promote UBER a haven for criminals and paroled felons."
I didn't know Hickman was a driver
Montanore will NEVER be built. They bought it so they could build Rock Creek on the other side of the mountain. There is only enough water in the area for one mine and the activists are up in arms. Mothballing Montanore will placate the activists and allow Rock Creek to proceed.
without knowing for sure, I would not buy CDTI based on a small possibility. Panasonic may indeed buy CDTI but will wait until BK to do it. then they can buy just the IP they need at pennies on he dollar
I'm not sure about that. neither was at the finish line and it was not clear which one was ahead. I am thinking another miner, like CDE, was also in the bidding war and HL wanted both for a little extra money.
Again, hats off to Dobbs.
I think it's because he is near death
After his latest barrage, I put him on ignore, so as far as I am concerned, he is dead already
there are some articles from 2014 saying yahoo was going to invest some of the BABA proceeds at a valuation of $10B. SnapChat is now over $20B so any money is worth 2X
good question and no one knows and/or is not saying. I would suspect much less than the $20M/yr Honda does now. any valuation of the company must assume ZERO Honda revenue starting 1 year from now
you are missing debt. $4.1M to FGI in a revolver. $8M to Kanis + accumulated interest of 8% over many years. Lease payments that need to be paid, severance. there is also $1M in taxes due to the Feds. If the stock price was ZERO, someone would still have to drop $20M+ on the company to unwind it.
the water system they have now was to dewater the adit, not for mining. for the last 15 years all they did was pump water out of the old adit. The adit placement was also being sued by a local for infringing on his land so I am not even sure if it is free and clear to use the adit.
he's sees value in staying out of jail
I have NEVER seen a BOD member part of a DEATH SPIRAL. It is unprecedented. Only Cayman Island type scvm do those things. Not a BOD member. Obviously he wised up. Probably asked for his money back but it has already been spent. If he feels the company is doomed and there is no hope, what difference is it if his shares worth ZERO were worth 71c at one time?
There are may ways to interpret all the events. you always seem to see only the positive for you. The fallacy of hope
if you go back years and years with these two adjacent mines, the activists always questioned the water as the main issue. There simply was not enough stream flow in the area to divert to two mines doing their thing.
so Rock Creek has more ore and 2X the mine life and HL didn't overpay in relation to Rock Creek? The market disagrees and that is why they are down 6% today. Overpaid by $15M. $15M is not a big deal. Maybe this is a good entry point for HL
the permitting process is about the same for both mines. Rock Creek is further along in some ways and Montanore in others. Both have water issues, grizzly bear issues, bull trout issues. both are being sued by activists
You are comparing Montanore to RVM's Troy mine which was closed due to a cave in, not the adjacent Rock Creek Mine which has not been developed. RC has more mineralization, 4X more than Troy and something like 1.5X more than Montanore. when RVM sold, copper was $2.5/lb, now $2. So they sold it at higher mineral prices for less money.
I am thinking that HL overpaid by $15M here for MGN. $15M for a company of HL's size was probably immaterial and they wanted control of 2 adjacent mines. HL is down much more than other miners today because they overpaid.
you called it. well played by you. If I do an objective analysis of this vs the RVM purchase, HL paid 2X what they should have here, or they overpaid by $15M. Maybe they just felt with a company of their size that $15M was immaterial and they could now pursue one of the two mines without objection from the environmental groups.
Maybe the 40% rise in HL stock price also had something to do with it. By that measure, they paid only $2M more than RVM
they had no balance sheet. They were out of money and sold all their mining equipment to stay alive. Personally, I think they mothball this mine and go with the Rock Creek mine instead. Rock Creek has more mineralization. There is only enough water in the are for one of the mines.
why did they pay $30M for MGN but only $20M for RVM? RVM had no debt, 2 mines, and mining equipment. There is only enough water for 1 of those 2 mines to be built