RE: Really Screwed up25 Feb 2021 22:06
I sold out today. Its not a bargain, due to the incompetents running it. No real experience in operating mines, now the new guy who is head of strategy...has no real experience of operating mines. The only argument I can see for buying in now - not holding - is that you might make 10 or 15% on some bounce if gold rallies again, then get out quick before everybody else does! Me, I used the opportunity to cut my losses and buy a quality outfit elsewhere that was a little cheaper today due to the volatility, my 10% bounce is more or less guaranteed. Better to buy a good company at a fair price than a fair company at a good price. Although I would not even rank this company as fair, I would say poor at best.
Betts and the company are on borrowed time I feel. Lets see how low gold goes and how this fares with no expected news until about April. Expect some desperate RNS soon, from the company that wont tell you anything. They cant work on the new mine due to travel restrictions, so not much to look forward to here is there. Once they pay the debt off, they will probably need to borrow again? (not my problem any more).
I hope this collapses in to the mid to low teens and Dan gets booted out. I hope he also reads this, the moron has cost me money.