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Northern Tier Energy LP Message Board

hockey_cfo 7 posts  |  Last Activity: Aug 8, 2014 3:31 PM Member since: Aug 9, 2000
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  • Reply to

    HOCH Sold 3.5 Million in Single Block

    by hockey_cfo Jul 26, 2014 10:03 AM
    hockey_cfo hockey_cfo Aug 8, 2014 3:31 PM Flag

    Bed,

    You have very good points and I will respond in kind when I have time. Sorry for the delay response, but I have been travelling quite a bit and have had no time to see family, let alone respond.

    Bye the way, I never said IP and Nat did not have good points...as they do. My problem is the personal attacks on the Reids and myself. Points are much better made when the personal is left out of things and life is too short. If Nat is making good points without being personal, then I may remove from ignore. IP on the other hand is in the penalty box.

    Best regards,

    Hockey

  • Reply to

    HOCH Sold 3.5 Million in Single Block

    by hockey_cfo Jul 26, 2014 10:03 AM
    hockey_cfo hockey_cfo Aug 1, 2014 3:32 PM Flag

    IP,
    You seem very hateful individual, as does miss Natasha.

    I do very well separating personal from business...I just don't spew my disagreements with an executive team of one of my investments on a public board. Would you, if you were long that stock. I have had many disagreements over the years with the Reids, I just don't post them here, as it does not benefit anyone. I will leave the hateful angry speech to people like you and Nat.

    In regards to my CFO skills, I run a company and I do not crunch numbers all day, as it appears Nat does because she has nothing else to do. My priority is to my family; my business; and my employees. If I miscalculate something, it is not due to a lack of knowledge, it is due to a lack of time.

    You and Nat seem to have plenty of time to disparage people on public boards, therefore, I must assume you have nothing better to do...hence your angry and hatred.

    As with Nat, you are now on ignore.

    Hockey

  • Reply to

    HOCH Sold 3.5 Million in Single Block

    by hockey_cfo Jul 26, 2014 10:03 AM
    hockey_cfo hockey_cfo Aug 1, 2014 9:38 AM Flag

    Bed,
    You are correct, that I have met and know the Reids. As I have stated before, they are very good, honorable, and ethical. As a business owner, I have seen both the good and bad of people and I would say the Reids are some of the most ethical good Christian people I know.

    That said, Ethical does not make them good managers/executives. I have invested with Bill for over 25 years, all the way back to the days of US Gold, where I bought most of my stake at .10 in my early 20's after reading about Tonkin Springs in a trade journal. Through the years, I spoke to David and Bill quite frequently and that relationship got me into GORO, pre IPO. Over the years, the Reids have made me and my family a lot of money, and for that I respect them and thank them greatly. That said, I have also seen the positives and negatives of Bill's and David's skill sets, and I have had my disagreements and frustrations. I voice these to the Reids directly and do not voice these in public boards, as it is unfair to them because they cannot respond. Further, it does not accomplish anything positive for me or the Company.

    Bill and David are VERY GOOD at identifying prospective properties, which is why I find Canamex interesting. They have a knack for finding the properties that are under people's radars. On the other side, Bill's enthusiasm, at times, made him make overly optimistic statements, as is the case with GORO. This optimism, along with several fairly significant control/development issues, created issues with management credibility and GORO shares have suffered. As shown, these "Control" issues were not fraudulent (intentional), but more "oversights" that could and probably should have been addressed. This means that they are not crooks, but instead, inexperienced in certain areas, the loss of concentrate at the smelter is the prime example.

    What is positive, is over the years, I have seen Jason try and temper Bill. Jason appears to be more methodical and measured

  • Reply to

    HOCH Sold 3.5 Million in Single Block

    by hockey_cfo Jul 26, 2014 10:03 AM
    hockey_cfo hockey_cfo Jul 28, 2014 9:31 AM Flag

    IP,
    If you remember, the exit by HOCH is a long time coming and is one dictated by a change in the Executive Team and Strategy of HOCH. When the new Exec team came in, they decided that they would not hole a position in a company they could not control/own. As such, they discussed buying GORO, but management did not want anything to do with it. This led to a somewhat confrontational relationship between GORO and HOCH, as HOCH was now in an untenable position, as they wanted out, but had no easy way to get out. Isaac, HOCH's appointed board member and I discussed this topic several years back after some fireworks occurred at GORO's annual meeting, when HOCH's Lawyers made a motion that was voted down. After the meeting, Isaac and I discussed the events and he stated exactly the above.

    You ask, why is a positive that a company wanting out is finally out? I think you know the answer to that question.

    Your statement regarding the two founders "exiting", as if there was something nefarious going on. I would counter that everyone has to retire at some point in their careers. Both of the founders were 60+. At what point would you suggest they retire...in their 70's...how about 80? I don't believe anyone would see Retirement as nefarious act...especially since it truly was Retirement, as neither of these individuals is working, outside of consulting for GORO.

    Hockey

  • All,

    Obviously someone has faith in GORO, as 3.5 Million shares were taken Thursday in one Block Transaction. Form 4 Posted Friday, after hours. Block traded at $4.85, and was a discount of $.20 over prior day close, or a discount of only 4%.

    It was originally thought that, as they liquidated their almost 8 million remaining shares, that HOCH would severely pressure GORO shares. In fact, there was a short thesis on this posted in several trade journals. It appears those who bought into this thesis are now going to scramble. One large block at a very low discount indicates that someone wanted these shares. The question now is who the buyer is...another Gold Producer, or an Investment Fund. If another Gold Producer, then this could be a means to acquire GORO. We will have to wait to find the buyer when they file their registration statement.

    Either way, this is very bullish for GORO shares, as the HOCH shares obviously have significant interest. Further, it puts these shares into strong hands, as HOCH has had serious financial issues with its mining operations and needed the cash.

    Hockey

  • hockey_cfo hockey_cfo Jul 24, 2014 4:18 PM Flag

    It was HOCH transferring to stronger hands. This is very good news for longs and not good for the 4+million shorts. The only thing I am curious is it one party or several.

    Either way, someone has confidence enough in GORO to take a huge 3.5 million share block.

  • Reply to

    GORO volume

    by dejjj2000 Jul 24, 2014 9:53 AM
    hockey_cfo hockey_cfo Jul 24, 2014 11:45 AM Flag

    Hochshild block looks to have traded.

NTI
25.61-0.30(-1.16%)Aug 22 4:01 PMEDT

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