Lee sold most of Welgreen shares for less than 50 cents last year. Intelligent new
owners kicked him out and turned stock around to where it's now over 80 cents and
rising. Prophecy has great potential, but not with a STOOGE LIKE LEE AT THE HELM!
Sold most of his Welgreen (platinum mining) shares for less than 50 cents last year. The man
is stupid and desperate. Welgreen now 80 cents and rising. Prophecy requires an intelligent
CEO, not a clown like Lee!
Stock always had a tremendous potential, but just continually milked with dilutions
by Prophecy. South African miner's strike has refocused attention on value of this property.
Just need a deep pockets JV partner, or interest by a Chinese firm, and it's off to the races.
Precious Metals Manipulation Worse Than Libor Scandal, German Regulator Says
Submitted by Tyler Durden on 01/16/2014 14:29 -0500
Remember when banks were exposed manipulating virtually everything except precious metals, because obviously nobody ever manipulates the price of gold and silver? After all, the biggest "conspiracy theory" of all is that crazy gold bugs blame every move against them on some vile manipulator. It may be time to shift yet another conspiracy "theory" into the "fact" bin, thanks to Elke Koenig, the president of Germany's top financial regulator, Bafin, which apparently is not as corrupt, complicit and clueless as its US equivalent, and who said that in addition to currency rates, manipulation of precious metals "is worse than the Libor-rigging scandal." Hear that Bart Chilton and friends from the CFTC?
More on what Eike said from Bloomberg:
The allegations about the currency and precious metals markets are "particularly serious, because such reference values are based -- unlike Libor and Euribor -- typically on transactions in liquid markets and not on estimates of the banks," Elke Koenig, the president of Bafin, said in a speech in Frankfurt today.
Actually, what makes the most serious, is that precisely because they are on liquid markets means they implicitly have the blessing of the biggest New Normal market maker of call - the central banks, and their own "regulator" - the Bank of International Settlements (hello Mikael Charoze).
"That the issue is causing such a public reaction is understandable," Koenig said, according to a copy of the speech. "The financial sector is dependent on the common trust that it is efficient and at the same time, honest. The central benchmark rates seemed to be beyond any doubt, and now there is the allegation they may have been manipulated."
Bafin has also interviewed employees of Deutsche Bank AG as part of a probe of potential manipulation of gold and silver prices, a person with knowledge of the matter has said. Less
Sure hope so for natty owner's (or is it Nutty?) sake. Hope he gets a chance
to short at $35 within a few weeks....
Saw that. Explains part of Prophecy's problem.
There's no doubt Mongols need Prophecy's power plant.
But need to relax their rules, provisions and taxes sufficiently to investment.
Appears to be some change in the gov'ts attitude already.
1) Any chance of buyout offer, like ANV's? Any company interested in buying Los Azules could take out the whole of MUX and pick up Los Azules into the bargain. Even if McEwen opposed it, a 50% premium. (like ANV's) would probably interest quite a few shareholders.
2) Based on the all-in costs MUX just reported, it would appear that it was profitable
last year. Might be the first year of profitability....
Investors screwed with 90% stock loss over past 3 years, while CEO Lee stuffed his own pocket
with $1 million salary in 2013. Now, sweetheart options for his colleagues. Doesn't Canada have
any laws? How about some prison time for Mr. Lee?
Some differences of opinion on safety of the dividend.
You seem to know a lot about these type of stocks. What do you think about the safety of the dividend?
And do you think CLMT is headed up?