Rock Creek was abandoned for many of those years when silver was $4/oz and copper was 80c/lb. RVM has only been trying to get it going again for about 5 years on and off. They cleared a few hurdles in that time and the environmental groups have backed off. RVM pays for a forest Ranger and has put thousands of acres of forest land away for mitigation to Bull trout and Grizzly bears. Ironically, if RVM were to abandon RC, it would have an adverse effect on the wilderness as the Forest Ranger would be fired and the land would revert back to RVM.
It should absolutely be evaluated when considering RVM.
What's your angle and your boyfriends angle? Are you short? are you hoping to buy at 2c? are you just a doosh? what good is your lucky guess if you did not benefit from it?
the mine will NEVER be permanently shut down. It may be offline for 6 months. 1 year. 3 years. Heck it was offline for 20 years before coming back online.
You know nothing. All you were doing was spewing lies and fear. You got "lucky". It could have went the other way. you didn't buy, you didn't short. So what good was all that "knowledge"?
I was the only guy here at 5c a few years back. I made 10X on my investment. I might be the only guy here again at 5c again.
As far as Rock Creek goes, there are various hurdles mines go through in their permitting process. Last time the company was at 5c was a few hurdles ago. the next hurdle does not mean mining starts either. If all the hurdles were checked off and mining started today, it would be 5 years before they saw any revenue. That does not mean there is no value to Rock Creek. Someone is always willing to buy mines in various states of the permitting process.
As far as you being a pfhaggot, apparently I hit a nerve. Maybe I got "lucky"
it was dire a few years back when silver was under $10 and copper under $2. They managed then. unfortunately they will now have to sell some stock to raise money.
all in all the bad call by the CEO cost them $8M. Not insignificant but not earth shattering. They will be able to come back as long as metals stay the same or go up. Tell me the price of silver/copper in 6 months and I will tell you the price of the stock regardless if they open or not.
that will never happen. SLW has abandoned their strategy of buying a piece of miners 2 CEO's ago. This is just a legacy position for them
I think a lot of what happens next depends on the price of silver/copper. If they get cut in half from here, the mine will shut. If not, they will continue with the skeleton crew and try to re-open.
wasted $8M in that time frame.
So now this becomes an exploration company akin to MGN with no active mine, one permitted but closed mine near end of life, and one massive mine that still needs permitting.
There is value here, but at what price point? 50c? 80c? $1? I don't know. I think the CEO needs to take a hit here for bleeding needed cash
interesting that there was an offer to buy Skybitz and Tanklink for $90M which is about 2X sales. That would mean Skybitz actually appreciated in value as it was bought for about 1.5X. Would not have expected that. I think that buyer was Iridium
excellent point. Look at MGN with no active mine and a mine not as far along in the permitting process as Rock Creek just 2 miles from Rock Creek.
volume would be much higher in that case. There is no reason to close the mine. The ore is still there. They just need to re-route an access to the ore.
Now layoffs I could believe. should have been done 6 months ago. About time the CEO grew a pair.
stock getting pounded. Someone, again, wants to embarrass Jagid as an investor conference is at 4pm today
the problem with being an end-to-end provider is that they will lose business from companies they serve that they are now competing with. IDSY is one. Their contract ends at year end. ORBC is now in direct competition. IDSY will switch to Iridium which is the same supplier as IDSY's main competitor. IDSY has over 100K trucks under contract. Big loss for ORBC.
The other problem is that ORBC has such a small percentage of the M2M business segment as an end-to-end supplier. So either ORBC buys into that area in a much bigger way, or they will always be an afterthought.
tomorrow is the day. 50DMA now at $12.06, 200DMa now at $12.07
gold just made a major move off of Bernanke's comments, up 2 1/2%
If IDSY was smart, it would try to shop AI division to whoever wanted Skybitz/Tanklink for $90M. I would gladly dump AI for $30M.
They BOD should also try to shop the whole company. The purchase price for WRLS was $230M. We could easily go for 1/2 that.