Surprising no one, Chimera Investment Group (CIM -0.7%) notifies the SEC and investors it will not be able to file its 10-Q for 2013 Q3 in a timely fashion.
The company filed its 2012 Q2 report just 2 weeks ago.
The last corporate statement shows negligible capex going forward. By my understanding, each year TGD will stockpile about $60 million cash. In three years, cash would equal the current 180m mkt cap. In the life-of-mine ten years, TGD will have $6 cash per share, ostensibly forcing stock price at least to $6. Does this not seem a no-brainer buyout candidate?
Chart volume on this downleg is heavy and surpasses the mining sector's selloff. The dividend payout is sustainable at half cash flow and at a respectable 5+ %. After watching GORO's downtrend for a couple years, have finally added it to my longterm dividend portfolio. Best of spirits all and don't sweat this institutional raid...