Bought this schitty stock several years ago at $32/shr when Barrick execs said they would be producing $0/oz Gold from Pascua Lama after using Silver byproduct to cover mining costs. They Lied. Future silver streams had already been sold to Silver Wheaton, and the money had already been blown. You cannot trust this dishonest company one bit. They are liars and cheats, IMO.
Since Thornton got his $12 Million "sign-on" bonus, ABX shareholders have lost $8.5 Billion in stock value.
Since Thornton received his $12 Million "sign-on" Bonus, ABX shareholders have lost $8.5 Billion in shareholder value.
Bad mangement, bad debt levels, bad investment.
$8.5 Billion in "investor capital" blown on Pascua Lama,
and not one ounce of gold. to show for it, just $Millions in
environmental violations and court fines. ABX is puta mali bad.
AUY has lost 85% value in one yr. They are still better than ABX.
I saw a cat jump across the office building's roof to a utility pole.
Unfortunately, it got across the electrical wires and was killed instantly.
When it fell to the ground, still smoldering, I distinctly saw a bounce, not
unlike what that P.O.C. stock ABX is doing today.
Too much ($13 Billion) debt overhead, combined with declining production and lower Gold prices, make this stock a no-brainer loser. ABX is corkscrewing into the ground, like a plane with no rudder.
Remaining Luster? This evil co. was tarnished from the Get-Go.
Set up as a Ponzi scheme by Munk to funnel investor "capital" to
his offshore accounts, once he left with suitcases full of cash, his
hand-picked ex-Goldman shill "Billie Bob" Thorton took over the scheme,
and the whole house of cards came tumbling down. This phony company's
stock isn't worth a nickel a carload.
USB upgrades Barrick from elephant dung to garbage stock.
Ratings upgraded from "Sell" to "Don't Hold." You would do better
investing by giving your money to a homeless dude on the street.
At least you could feel good about yourself, ustead of giving it to
greedy ABX mangement Bass terds for their stock option bonuses.
Mining experienced execs leaving the co. like proverbial rats jumping from a burning ship.
ABX is doomed. Finished. Ratmeat.
Does "tangible assets" include $8.5 Billion sunk costs in the indefinitely mothballed Pascua Lama money pit?
I sold at a $10k loss at $8.02/share, waiting for another entry point.
Where is the entry point for a stock that is Obviously going to zero?
$13 Billion debt, negative assets, production dropping consistently.
ABX corkscrewing into the dirt like a plane with no rudder.
World's biggest Gold company? GM was World's biggest Car company when they went B.U.
Obama got Union votes, Shareholder's got zero.
Charles Ponzi, bless his soul, kept his client's names and addresses on a Rolodex file.
When a new client signed on, he would pay the old clients 43% interest on their investment from the proceeds of the new client. Your right. ABX is not a Ponzi Scheme. The upper escargot execs just pay the proceeds from your "investment capital" to themselves. No Ponzi Scheme here.
I wonder if they will even replace Charles Ponzi's Namesake with a newer one, to denote a pyramid scam? Madeoff scheme? Guess not. Scotch tape will always be called Scotch Tape, even if it is now made in China.
I didn't come up with this analogy, but it fits this troll company quite well.
They poison the indigenous people's water, flaunt environmental regulations, alledgedly bribe local officials, and lie to shareholders as they squander their "investment capital" like they are robbing their kids piggy bank for strip club money. The sooner this crooked company goes belly up, the better off the whole World will be, IMHO.
Sorry, I didn't know Hook, er, whatever was a banned word.
Guess it would bad if my 3 yr. old pointed at the jittery painted-up lady on the corner and said:
"Look Mommy, another Hookah!"
"Around here, we call them crackies, dear," she would be corrected.
This stock is what Alibaba will look like in three years, after Ma spends the $100 Billion in "investor capital." on yaghts and #$%$.
The CEO's of these Chinese companies always get filthy rich at IPO,
skim off the investors' money for salaries and to pay off Red China
Government Loans, then go Bankrupt, leaving "investors" (suckers)
with nothing. Wash, rinse, repeat with a new name, new IPO.