As I posted earlier, so am I. At least I am seeing my TLR "proceeds" participate in the lifting sector in GSS and GDXJ/GDX. The final insult would be to sit with TLR at 15-20 cents and see the sector finally take off. I strongly believe we are near some serious financial crisis. Postponed by the tribal criminals in charge by years, the time to pay the piper is here.
I have been with TLR from the beginning when J. Swallow was in charge. Rode it to the top and then down to almost nothing...sold some on the way down, but mostly held on. Feel like an idiot that I truly am. I really thought this comp had a potential to make. The Butte "sale" or giveaway has done it for me. Butte was the reason I held on. Like a jerk awaiting permits. This management is at best horrible, at worst crooked. To develop the properties (a few 100k low grade oz) they have will require 30-40 million. Who will give them a loan??? They are sucking the last few 100k from the money they have....in a month or two they will close down the shop.
Well, I sold everything I had( a lot of shares) last week. Split my proceeds into GDXj and GSS.
I wish you all who are staying well. I really do. This was not an investment for me but a nightmare. I need peace in my life. I do feel free now. Poor, but free.
TLR is giving away all of the Butte Mine interest (carried to production with no current carrying cost) for about 300k...Period. just add the parts. I am speechless.
For the last 3 months there has been a incessant seller in GSS, perhaps still part of the 50+ million shares transferred to a seller a year ago when GDXJ dropped GSS from its [portfolio.
IF so, GSS will now be free to levitate to its more real market value. Even in this horrific sector environment, 40 mil market cap is laughable.
Lets see if I am right......
16.5 cents w8ill seem unreal within months....
There will be no 2016 int. rate hikes. The eco in recession now, so expect more $$$ confetti available thru QE, better and improved QE. Gold shall rise and our torturous wait will come to an end in 2016.
I too am nowhere near 15.5, but I believe that GSS based on the $150 mil vote by Royal Gold is going to do well. I am certain RGLD did a detailed study before giving this much money. Once gold price cooperates(and I am sure it will in 2016), GSS will lead the sector. Total costs under or right at 1k gold, a high probability of added reserves...and so on. As I said before, this is different comapny since they dropped the refractory ore. The same stuff that killed Allied Nevada.
I read you and you raise very valid points.
My optimism of late about GSS stems primarily from Royal Gold putting up a lot of cash on the line. I am certain Royal Gold did a lot of research before committing $150 mil. In a way it was a vote of confidence. Most GSS problems in the past were tied to refractory ore mining...a thing of the past. Also, equity wise, GSS was dropped a year ago from an index that forced the liquidation of many millions of shares. Perhaps that is still causing some added selling pressure by the fund that bought/assumed all the shares?? Not sure about that.
By all measures that I use, I find GSS undervalued significantly, even given the current horrific sector situation.. Here is a company with Royal Gold $150 million backing to production. The cost of this financial backing is reasonable. The total outstanding debt of $130 mil now paid down some with the $150 mil funding. The potential for expending resources is absolutely great. I can not identify too many IFs that can come up taking them to the implement. of their plan. Actually, they should be ok even if gold dips to 1k for a while....so what gives???? a market cap under $50 mil??? ABSURD.
Since the new CEO has taken over, the primary concern has been how to " legalize" their excessive salaries and PSP plans before any sale goes thru, while the company is bleeding to death.
At this point, the only sensible thing is to eliminate majority of expenses, meaning putting the "hdqtrs" on care-taking status and wait this out. Stop drilling, stop all expenditures but those absolutely necessary. I still believe gold will see much higher price and soon. Butte then will become valuable far more than today. These people sit there and collect probably close to a $ million a year and trying to give away the company.
Please call them and put some more pressure on them...and yes, ask for the CEO, otherwise you are wasting your breath. I called and it may make a difference.
I don't see why the CEO and perhaps one more person can stay getting paid and give the company a chance!!!!. Otherwise, it is an assured bankruptcy within a few short months.
CALL!!!!!! with whatever idea!!!!!!!!!!!!
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