What you have here is $90m being controlled by $85m. Now the $90m will be $95m.
This will be over $10 in very short order (about 30 days).
I added a bit today at $5.05 (just another 1k shares).
I figure whoever is driving it down might as well sell me some of their shares before they drive it back up.
I sold all of my Gilead about two weeks ago. I had Jan 2016 $80 calls and decided not to hold through earnings. I may buy them back though if they get cheap again. I won't regret selling the third of TC if it means we go back to the $3 area for the rest of my shares.
I am interested in what price Perron buys and sells. All I know right now is he sold at $1.99 or thereabouts.
It actually traded up from $7 for a little bit until Kevin really started screwing up. MM looked really good before they sold off half the gold stream (and while gold was $1700 an ounce). $7 looked like a bargain since TC was going to make $4 a year profit at those metal prices.
Ultra, lets see. I started buying at $7. I thought it was a scorching good deal at $5, then T-Meds took us to $3. Uncertainty about the startup of MM took us to $1.80 but then brighter days for moly got us back to $3 again. At that point moly took a dump on us and copper said hey, wait for me too moly! and also took a dump on us. We dropped to $1.18.
Why in the world would I sell? I have about $5.50 worth of reasons from my first purchase.
Eh, I just bought 3000 shares at $5.08 the other day and will ignore the ups and downs and sell at $25 to $30 when 1456 gets a partner.
$1800 gold, $30 moly and $4.50 copper and this stock will be $15 the next day.
About as likely as me winning powerball....but I did just buy a ticket.
Hope his hedge fund is ok. LMAO.
I sold a third at 1.46. No profit, just losses. Might buy back at a buck or just buy a few powerball tickets.
Truth be told, I am most interested in seeing the 75 year old bucket dredge come to life. They could have done a complete show around that rebuild and I would have been fascinated. I love old machinery.
Tonight a new episode of gold rush. I can watch Toad and feel better that at least our mine isn't *that* messed up.
They paid 1.8 billion or so to engineer and develop MM. A near 100% screw up in cost over run. To top that off, they then messed up again by not accounting for the type of ore they would be processing, Now they want to pay the same engineers who messed up top dollar to design a crusher to cover their past mistakes.
It is just SNAFU
Management and board need to step up and buy shares or do something positive to increase shareholder value. Saying they are ok waiting 5 or 6 years for moly to recover, then watching copper fall to $2.45 is not going to cut it.
They need to lean on production and get near 100% capacity asap. They need to lean on suppliers and engineering services to cut the cost of a permanent crusher. Engineers in the mining industry will be looking for jobs soon if we stay at this level metal price. Perron to state that oh well, the crusher will be at the high end of our estimate is B.S.
double down? I started at $7 with 1000 shares.
By now we are talking quintuple down at least. I am not buying any more even if it goes to $0.20 and Perron starts Yahoochitting gold eggs.
It was good while it lasted. Wait, no it wasn't.
Worst investment I ever made. Even tops the money I lost in China fraud stocks in 2007/2008.