No I do not. This recent offering is bewildering. Why do it at all? Just last year CEO said they were not going to dilute the company, he said they were fully funded into 2018, and now they raise this money - for what exactly? The environmental permit should have been awarded last year, but ridiculously, the environmental department requested additional information which has delayed the project by another full year, as CEO now says the additional info will be submitted before end 3Q, so earliest permit can be awarded is 4Q.
Some conversations on another board raise an intriguing question regarding the open interest on option calls for August 19. It is indeed intriguing that anyone would place a 'bet' that the stock price will be over $5 by then, next Friday. This stock has not been over $5 since the ANV spin off of 2007!! Hard to see why anyone following this company, or is in a position to trade would think its going to $5, unless they know something we do not...
The mgmt call on Wednesday will give insight.
Personally I am completely hacked with VGZ mgmt. They completely messed up the last bull market in gold, by trying to get the Paradones Amarillos project off the ground, but they could not get the permit. They wasted time and millions of dollars on that. And now here we are in a confirmed bull market and the share price for the amount of gold they have in the ground at Mt Todd is pathetic. Hopefully someone has offered them $100/oz and they sell up. I am seriously pissed off with the delays and excuses.
Lets see what they have to say for themselves on Wednesday. Current crap from CEO is they are waiting for market conditions to improve before making a development decision, well the market conditions are that we are in a bull market. There is a minimum of 6 months for the feasibility study to be completed, then 12-18 months building the mine, thats 2 years! Who knows where we will on gold price by that time?
They need to make a decision and start returning some value in the share price for investors. I have held and bought this stock since 2009, and they have not done a single thing that has caused the share price to rise. Not one thing, its pathetic actually. They need to do something now!
