Follow this then: 3 billion in equity, $21 Billion USD in debt.
They didn't pay the IPO price. They paid aprx. $1 share, loaded the co. down with $21 Billion in Debt, then brought out an IPO at 16 dollars a share. It's kinda like if Bernie offered to sell you 150% of his hedge fund, and personally garranteed a 10% return on your investment, paid out of the receipts from new investors, every month.
The engineered smashdown in paper gold was bovbious attempt to keep it below 1100.
The timing of the Credit Suzie downgrade is very suspect, because its release was
coordinated with the JPM, HSBC, CS paper gold price smash. Although the Smash and
grab robberies in the jewlry stores have dropped off, in the crooked bankster manipulated
paper Gold markets (comex) they are alive and well.
What a holeass. Honesty has no place in the crooked bankster manipulated Gold market.
He needs to keep his dam piehole shut.
Compare their upgrades and downgrades with the SP charts.
A monkey with a dartboard does a better job.
No way the new HudBay CEO can #%^& GG up as bad a Chuck has.
I see this Credit Suzie scam call as a counter-indicating buy sign.
The only ones getting rich off of this fairy unicorn were the VC capitalists and also KKR, who did nothing other than load this company down with huge debt, and put it up for sale.. As soon as the lockup expires shares get dumped 10-20% below what dumasses paid for them at IPO. Always remember what your Mom told you:
Do Your Homework!
This zombie co. being "run" into the ground by a bunch of Wall Street empty suits with zero mining experience.
They are just Overpaid schills for GS and JPM so the criminal banking cartel can short down the price of gold in the phony paper (Comex) markets, and take delivery in barrick's production which is actual physical Gold.
End of year tax loss selling is almost done.
Dollar will reverse course as foreign money
leaves equities. Look for an early 2016 Dow
correction of 20% to 14.5K (18 x .80 = 14.4)
You carry over the stocks that are in the money over until next year,
but sell the biggest losers before the end of the year. It's hard to find
a bigger Loser than this one. You can still buyGG back next year after
31 days (wash sale rules), if you think it is going back up.
Your $100,000 "invested" in ABX in 2013 is worth $19k now.
If you invested that same amount in Starbucks (SBUX) you
would have $300,000, or 15 times as much. ABX's Wall Street
suits have taken $Millions in bonuses for selling off parts of the
company to pay off their Bankster buddy's bonds, while
stockholders have lost $20 billion in their "investment"
When someone "paints the tape" down 13% at close,
you know there is some illegal manipulation going on.
By spoofing the price down over 10% they can get the
stoploss orders to kick in, and pick up shares for cheap.
Unfortunately, the feckless SEC is turning a blind eye.
Long term investors have lost 80% of their life savings, while executives have gotten filthy rich off of Bonuses.
It wouldn't be quite so bad if they had not Lied about Pascua Lama the whole time, and got away with it.
Now upper escargot mangement can all pat themselves on the back and give themselves multi-Million dollar bonuses for selling off parts of the company paid for with shareholder equity to pay off Investment Bankster Bondholders. I paid $32 a share for ABX in 2013, and now cannot get even a 1/4 of that "investment" while management has got paid $millions in bonuses for losing $30 Billion in shareholder value. Some investment. Sigh.
Use to be, if you had an asset which generated lots of cash flow, it was called a "Gold Mine,"
but now the term is used to describe an unwanted asset. I agree with you, how can a company with $40 Billion of minable gold in the ground be worth one Thousandth the value of Facebutt, which is made up from thin air?
Like a Zombie dropping off pieces of rotting flesh.
Production is dropping like a lead balloon. Levered Free Cash Flow: -704.28Million.
Dumasses are selling off free cash flow assets to pay down billions in debt on the white elephant Pascua Lama.
Almost all gold production goes to pay debt owed to Bondholders, as the stock price keeps falling. Soon, stockholders will have nothing. Seen this story many times before. Already know the ending.
Something fishy about the last SEC Form 8K filing: Change in Directors or Principal Officers, Submission of Matters to a Vote