Lousy performance by most of this Industry is why the Gold Miners have not kept up with the Gold Price....This is Typical...Maybe the poorest managed and sorely overpaid Industry of all.
SLW doesnt get it...This stock was bought for future dividends... 36 pennies per share doesnt support a $32 stock....Too much risk...Its no wonder the miners are collapsing...Even when they are profitable they dont pay dividends.
I USED to own this POS...Also lost money on it...Think I Lost about 50% on it back during the crash of 2008....This was another of Jay Taylors Dogs he recommended.
2.4 million profit?....Where would this company be if they were getting the same Gold Prices that the Feasibility Study called for?...Record Gold Prices and all they can get is $76 profit per ounce?...Disgusting...Time for a Management Change
I used to own this dog too...What is there about these Brazilian Outfits?..AUY, LGC.V and JAG all mediocre to terrible.... http://finance.yahoo.com/echarts?s=%5EXAU+Interactive#chart3:symbol=^xau;range=1y;compare=jag+auy+lgc.v;indicator=volume;charttype=line;crosshair=on;ohlcvalues=0;logscale=on;source=undefined
My concern with Jag as well as other new producers who are horribly underperforming is that the problems are not incompetence...But something much worse...Theft....There are just too many of these new producers who keep "Inept" Management and never fire them.
Why would anyone be interested?...1. No proof the resource is as claimed, Performance says no...2. No evidence this mess can be fixed even if the resource does exist...3. If Top Management is lying...Maybe the resource is just being stolen, which means they will fight to keep the company....Fact is that this stock is a Perma Dog until it meets the original plan..Good Luck
This company is constantly looking for cash...I question if anything they announce is true...Just too many excuses for too long...Currently my poorest precious metal investment and I have more than 20...I wont hold this dog much longer
I know the management assured everyone they would not be needing to liquidate the shareholders to get the operation up and running....So instead we have these sweetheart deals for Sprott Management
I held this for 3 years and finally got out...Eye Popping Drill Results, No Cash Flow, Tiny Proven Resource, Constant Dilution....Major shareholder owns the company's drilling contractor...Its always been Drill Baby Drill...And little else