"The biggest worry we have is that we just don't see a large ownership of the company by these key insiders, and without that it is tough to trust management when there are significant risks in this project that require investor trust."
A very good point from the article
Did he have any insights into why the share price has dropped 33 percent on larger than average volume over the past month? Sure doesn't seem like the share price performance you would expect if everything was going swimmingly at F2 and if lenders were beating a path to their door.
They would have been so much better off without ever doing the updated PEA. They had the original plan, they had the funds, and they blew it. You can thank Mike Lalonde and th BOD for this unmitigated disaster. As soon as Mike entered the fray, the old PEA was thrown out. Nothing but cost overruns, delays, and collapsing share price since. It has been so poorly executed, one has to wonder if there is not some devious component. I wonder if GG will enjoy getting 40.0 percent of red lake and the infrastructure at F2 for 90 cents?
If GG doesn't make a move for RBY at current prices - a 30 percent premium would still only cost GG a mere $310 million - is there anything else you need to know about F2?
I once posted that GG was waiting for this group to completely drop the ball and when they did, GG would sweep in and pick up F2 for pennies on the dollar. I posted that sort of tongue-in-cheek. No more.
Also, can someone please show me a company that has ever been successful in rising the equivalent of their enterprise value?
The story of F2 is over at least as it pertains to RBY. Perhaps under another ownership the gold at F2 will see the light of day. Not with these clowns. No way.
Now that is funny
Probably becuase you and the RBY apologist responded with every valid criticism I and others made regarding this company's mgmt with the hollow and cheap response, "basher". You were wrong. This management team is inept at best and crooks at worst and it has become increasingly evident with each passing month. Hey, GMM, does your 'friend' still want to buy RBY shares at a premium? I am sure there are many who would take him up on his sincere offer.
one of the world's richest deposits for chump change. Even I didn't think this management team could screw the pooch so badly. I wonder what the apologist will say when GG gets this for less than a buck. Unbelievable and epic failure.
Management is hosting a Q&A at Red Lake. You know what they are going to annouce? They are shuttering the project until the gold price rebounds. You know what else? The share price will hit somewhere around .50 - .60 cents on the news. Then guess what? GG will buy it for .80 - .90 cents on the dollar. Mission complete.
The market cap less cash is approximately equal to the funds raised after the 2011 PEA. These guys messed up so badly it is not even funny. They had the money, they had a plan, start small and build shareholder value. Nope, too easy. Let's gamble on going big . . . fail!
Pio has been dead wrong about every single aspect of RBY especially about quality of management, intelligence of going bigger in the face of a bear market, and the market's perception of this company. Dead wrong. No one should listen to what he has to say.
157,656 shares sold for slightly below .98. Getting out of dodge fairly quickly. RBY heading to .75. If no financing announced and they shutter the project until/if gold market improves, I imagine the share price will get to .50 or lower. Wow, what a botched job these jokers are. They should immediately close BC office, lay off IR and all non essential employees.
RBY is finished. Someone will buy this for pennies on the dollar, mothball it, and bring it online when/if gold market regains momentum. This management team made a bet, and lost. Shareholders were taken for the ride, and lost. AEM and Rob selling were the indicators that all was not well in Red Lake.
RBY has now underperformed HUI and GDXJ on 5 day, 1 month, 3 month, 6 month, and 1 year basis. Where would the price be if Lalonde had kept the original plan and the original PEA. RBY would be only months from production, now, not so much. RBY will be bought for 1.00 or less in the next 3 - 6 months.
Did RBY present at the conference? Of course, there is no link on their website to the presentation or to the materials presente (although I imagine it was just a rehash of the same old song and dance). How long til we see .60 - .70? One week, two? Will it even be a good buy at the price? Not unless financing is resolved.
GMM - you are so off based that its pathetic. How can it be bashing if it is true. For 18 months I have commented on the constant missteps this and the former management team have made. I have said that the price would continue to fall as missing deadlines and giant cost overruns have an impact on shareholder value. This company is not at 1.10 a share purely because the gold price has corrected to 1250. Management has dropped the ball so many times the fact that you don't see it is scary. You have stated that RBY will get to production or will be bought out and you believe you will realize a nice return on your investment when it is all said and done. I have stated that GG was waiting for these guys to run this opportunity into the ground so that they could come in and pick it up for pennies on the dollar. Let see who is right. Thus far, one of our track records appear to be better than the other.
Is your well heeled friend still interested in buying shares from people on message boards for a healthy premium? Too funny. Also, why don't you get a little class and leave my family out of this discussion. I thought you left public message boards a year ago . . .
What is funny is even if this management team did the smart thing, and RBY got an equivalent pop in share price as PVG (76%), RBY would be at 1.90. Ouch.
Um, what is different about the website . . . Can't figure it out? Simply put, they removed the scrolling banner that proudly proclaimed, "building shareholder value". Ha, about time. Waiting for .60 - .70 cents, take a flier on hopes of an acquisition at .90 - 1.00. Either that or this company closes its doors. There is no financing to be found. IR and all non essential employees should be laid off immediately.
Not a basher - a critic of a series of very poor decisions by management fueled and amplified by unfavorable market conditions which they failed to consider. When will you perma bulls finally admit that someone who posts criticisms of a company that prove to be accurate is not a basher?
Not gloating - just setting the record straight after 18 months of you calling me a basher. I'll tell you what I think happens next. The Company is unable to achieve third party financing and dilutes the equity significantly. RBY trades down to .60 - .70 cents. Second scenario, is that the company mothballs the project and the stock tanks further. I see RBY getting picked up for around a 1.00 per share in 3 - 6 months. The management team miscalculated the risk of a sever gold downturn. I could list all the errors of this and the former management team, but that would be too easy.