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
or when he lawyered up, the lawyer said the Death Spiral would haunt him in court
Heck, I'll loan the company $100K if I can get 8% interest and 25% below the next funding round
The wildly popular 2014 Baseball Hall of Fame coin that propelled CLCT to $25+ saw less than 10K coins certified. They also had autographs and special labels though. The 2016 Commemorative gold Mercury Dime is up to 19K of the 250K coins certified. Many have special labels and autographs from a former Mint Director and from David Hall. This 2016 coin is the first of three in a special series this year.
So it is looking like this coin series will be more successful than the wildly successful baseball coin
yesterday was 22K and Sunday was 5K which is very heavy for a Sunday (Asia). I think I will buy more if this moves towards $18 in the next few months. My only hesitation is that it will raise my avg cost.
RVM with no debt, two mines, higher metals prices, and some equipment, sells out for $20M. Dobbs waits a little longer sells off his mining equipment, has a Death Spiral, and lower metals prices, sells out for $30M+. Now HL can decide which mine to pursue, Rock Creek or Montanore, and push the EPA along towards one.
The only + to RVM was they converted at $3 HL, now $4.24, so the $20M buyout is worth $28M. Still it seems Dobbs got the upper hand as he sold lessor assets for more money.
still have 1 week to go and we have been running at about 60K/week. there is a holiday coming though. May has the potential to be the second highest month ever. At 450K for the quarter already as well. I think we do 700K this quarter with the potential for more
First time I have seen the backlogs increase on the stats page in many months. Even during the RECORD prior quarter they were on target. Now they are increasing above their targets
when spanspur does not post, about 4-5 other ids coincidently also don't post. I smell a rat.
If Kanis were to remove his Death Spiral I might be interested in a small wager. until then, this is gambling, not investing
who cares GG? Longs don't like him either. Move on already. Stock is up 5% today. your buddy has barely made a dime after paying the dividend and borrowing costs over 18 months. If he's so smart, why can't he make money?
no one will respond to you when you call us Uber Deniers and Stock Promoters
Should we call you Short Selling Skvmbags?