RMX.to - from MexicoMike blog:
dirkdiggler
Posted: Wed Oct 07, 2015 4:56 pm
Not with a 10' pole would I touch this stock. They also make it protocol not to keep shareholders in the loop concerning negative developments i.e. the five step order handed down by the gov't happened in early Sep!
Also, concerning their cap-structure? Go to their website and try to find an easy link to their CURRENT number of outstanding shares fully diluted.....one needs to delve into one of their pdf's to get that answer, and is it up-to-date? It should be a front-n-center link under the 'Investors' tab at the top of the home page; but advertising that they're basically diluting shareholders to death wouldn't be prudent. On that subject, they'll need more money, so another financing is likely about to drop with a resounding thud!
While I'm here, here's a quote from earlier today from an experienced mining engineer, one Tim Oliver: "Predict they will suspend UG crusher install to conserve capital. Would not surprise me if they already did but haven't told anyone. This is not a group who says much unless forced."
Rant over...........
kjm
PostPosted: Wed Oct 07, 2015 3:06 am
Allan Brent Cook @Allan and Mom. I’ve never felt comfortable with the narrow veins and erratic gold presented in the resource report for Phoenix. Add to that ground problems and resultant difficulty in mining and expected higher dilution and it was an obvious pass. $RMX has sunk ~C$685 million in this thing over many years, produced a mediocre PEA and begun mining off that study. As Tim Oliver pointed out, the capex blowout, extended down time and other problems make this marginal, even if they can get it running. Add in the 6% stream to Royal gold, probable need for another financing and I don't see what the hard part is. Just ‘cause it’s in Canada doesn't make it a winner.
Regards $PVG, I don't understand the resource methodology and its relation to the real geology—so stayed away. Time may prove me wrong, I hope so. But my experience has been that investing in things you don't understand usually ends badly.I don't hate high grade mines, just ones that don't make money.
Nuff said.
