Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Thanks for the stories. no doubt fiat has increased the prices due to it being un backed paper. Wonder how many folks relate our inflation to the destruction of our money? My youngest brother is 14 years younger than me so inflation had already thrown its net over the cost of living by the time he was old enough to know better. Over the years I have accumulated some Canadian silver and gold as well as some British sovereigns, and some Austrian and Australian hard money. Will be interested to see if we ever go back to a metal based monetary system. Most think not but either way the coins will always be valued for the metal. Its intrinsic value will sustain just sorry the youngsters may not enjoy the excitement and pleasure of those silver and gold coins. I remember a few years back at a fair watching a vendor out of change and he had only a few nickels and mainly pennies left to make change. He dug them out and counted and gave a handful to his older teenaged customer. The kid just let them hit the ground and walked off..... Now that everyone has Credit Cards it seems like for now cash is a nuisance. Will it ever change back....?
Great story congrats on the buy. I still remember Mom and Dad filling up their cars for $.16 a gallon when I was a pre-teen. Pumping gas, and washing windshields when it was in $.40 cents. Now its tough to get for under $3 and your pumping and washing the windows. Guess with all the inflation that's a good price. My big introduction to the PM's was when they took the silver out of the money in 1964. It was a revelation. All the sudden Dad was giving me dollar bills for school lunch. So I could get change from the school lunch cashier who babysat us when Mom worked at the clinic. She would always change us with 90% silver dimes quarters or half dollars if she had them. A big smile and wink. She babysat us often in the summer and was a wonderful gal. From those days on I was hooked into the 90% vs the copper clad coins. My 93 year old dad still has the bag of coins we accumulated . Its just a few hundred dollars of coins but it was a treasure hunt as long as you could still get them. Have to admit I was stunned a few weeks back when I actually got a silver 90% quarter as change, Had to smile and shake my head wondering who spent it and why? Probably found in a drawer of parent or at grandparents house when they were moving them to a home or they passed or maybe found it in some old clothes.. Brought back lots of good memories of hunting for those little treasures and how happy we were to add them to the stash. Keep Stacking!
Looks like the U.S. is the laggard here engineered or not? Know the last thing the Government wants to see is AU going sky high.... I started stacking in the 90's my first buy was at $666 Still kinda freaks me out that was buy point. I had sent the money in and when they got it that was my price..... Most of the recon I am hearing is demand for Physical is at peak levels and supplies remain stressed. I have been trying to get family and friends to buy some of both AU/AG since the 90's. +90% have thanked me for doing so.
Better with DIvvies or Capital Gains? I don't know about you all but with the current stock price in the toilet are we better with divvies we have to pay taxes on or getting the stock price up to a capital gain? I have raised this issue with IR but not making any progress so far. Its crickets as far as getting a dialogue going on this While divvies seem more powerful to Mgmt. to us long term shareholders with massive capital losses due to the pathetic share price losses I say its salt in our wounds since we are paying taxes for the divvies while we are bleeding worse with taxes on a looser. I have raised this matter with mgmt and so far its like pissing into a fan. They are married to the divvie despite the tax losses they have created for their long term shareholders. The divvie is being used to lure new shareholders while the long term shareholders are not getting a break as we are paying taxes on the divvie while our capital losses gain us nothing unless we sell and buy or buy back which can also create issues. So far I am not getting any traction with Mgmt over this clustermuck. Obviously having a declining share price is less of problem than paying divvies and getting reinvestment of some or all of the divvies. To those that have been around since the spin off..... tough manure....so far. If this remains the modus operandi then I am going to stop my reinvestment and just take the cash unless the sales price is low enough to neutralize losses already incurred. Good Luck. Perhaps up listing as jsc advocates could be a positive tool for this too.
Solid strategy on your allocation. I have done biz with these guys for many years and am pretty familiar with their properties. I may be a bit redundant here but the properties are as Jason has said " if the properties were in todays market for sale they would not be able to afford them" Their drilling continues to be much better than they expected. My experience has been they are pretty conservative with their expectations and expression of their forecasts on production. FWIW. At this point I have also stopped adding new capital but may reinvest some of my divvies from current operations. Thanks for your comments and hope its a solid investment for us all.
Dubster, Thank you for your comments I hoped I don't come across the way she portrayed me. I feel bad for her to express herself the way she does. I am no genius but do have a lot of experience in the commodity sector and what my employers felt was very effective in managing their commodity risks for a multi billion dollar corporations. However haven't hit one over the wall here so far. Would be interested in how many holders of AU/AG stocks and phizz out there think that the price is manipulated or not. All the best . KC
Got to go with the instincts here. Contacted Greg head of IR at FTCO via email and he indicated news is on the way. Should be out real soon, They are very comfortable with how the asset development is going. Greg is a solid IR guy. He has always returned my emails or calls. The team Fortitude runs a tight ship and their expectations of what assets they have been conservative but on target. They have an excellent resource. As Jason indicated in a presentation awhile back. They were darn lucky to get it when they did because they wouldn't be able to afford it in todays market. At the price the stock is trading at now we are the ones with the bargain at hand. Gold looks to be ready to run IMO. Good Luck to all us longs.
Added more shares today. Yield on current stock price~11%. With the selloff are we better with share buy backs or taxable divvies? Probably pretty much depends on your history.
I certainly don't remember any of your comments relative to what I said to you last fall. That's not my style. You seem to have a pretty big chip on your shoulder so that probably explains a bit about your attitude. So what's your call going forward on FTCO? Congrats on your call this go around. I picked up a few more shares. I don't rule out technical trading. Watching the technical's sold and over sold . RSI etc are part of the decision process IMO but not the whole picture. Congrats on you call.
Wow this like Deja Vu...I got first job out of Southwest Mo State it was working in a Hide House where we collected and processed green hides from local kill and locker plants. It was a small operation so i got to do pretty much every job that existed when people didn't show for whatever reason. Most of the employees had issues from prison records to issues with alcohol or drugs. Needless to say it wasn't high on most peoples list of places to work. I was the gofer that got to do everything from filling in on the production line where you were pretty much always wet from the salt cured green hides that you trimmed or moved to the next station. , or were dealing with substance abuse, or other sundry issues. When you left the plant you stunk. If you had to stop by the store people people would moved away from you. My girlfriend now my wife of 42 years made me undress in the garage and shower right away. It was a lesson in humility. So I doubt you can top that. In my next job I worked for Quaker Oats as a small accounts sales rep. which covered pretty much every thing from doing store resets at midnight to 5 in the morning to building store displays and stocking shelves if the union would let you. Working for Quaker turned out to be my break. Part of their HR program was testing and asking what your career path goals were. I indicated to get into their commodity group. After about a 1.5 years I got a chance to interview for commodity buying job in Chicago. Got lucky and got the job.. Pretty soon I was dealing with different folks at the Cedar Rapids plant. The toughest bunch to deal with were the Millers lol as they had a chip on their shoulder when it came to dealing with us in Chicago. It wasn't anything bad just that the Millers were smart guys that had their take on things their way. It wasn't war just you had to have your ducks in a row when you dealt with them. Sounds like you be that too. LOL Must be a professional trait. No offense implied. Just know and respect the profile from my younger days,
One of my favorite tools was/is the RSI aka Relative Strength Indicator. It measures the tendency towards being Overbought meaning to much demand and prices getting to high and Oversold which is to many sellers. . You can run various time frames and the tendency towards too many buyers and or too many sellers which will drive the price for the commodity or stock to the point of a change of direction in the price movement. I prefer the fundamentals over the technical traders as that IMO is what should decide prices. (IMO) but its not that simple as Traders whom are there to make money from changes in pricing movements vs the fundamentals of supply and demand. Obviously as more and more traders enter the pricing of commodity markets volatility tends to grow when shortages evolve. There are resources online thru the exchanges and others that can teach smart guys like you how to understand the nomenclatures as well as the mechanics for measuring the changes in overbought and over sold which then you have another set of variables to evaluate your decisions on buy and sell. If you are already using these tools fine if not its worth learning about them and how over selling or over bought facilitate changes in the market pricing and demand even it its just paper trading demand. At the very least it good to know how the markets sway up or down is impacting or being conditioned to change. The bad part is trying to assess how much and how long before the scenario changes and you are going to address that with change of your position. I remember when I was working for Quaker Oats and doing the hedging for a regional brand called Wolf Brand Chili. My analysis of the Beef market was ugly so my co-worker and I put together strategy that was hinged to their demand and our analysis that indicated the cattle kill was going to be low for that year and thus any moves in price would In our opinion upwards so the current market would significantly be a great opportunity to lock in all their needs. for at least a year......Nailed it and the profits from those Cattle hedges was the difference between them making a solid profit and losing a significant amount of money They asked us to come down and do our presentation for the following year. We went down and reviewed our strategy for the following years. They some absolutely cool Texas art that they were giving their sales people that they showed us ( they indicated they were over a $1500 each) probably at least 2x that now. Looking at my co-worker and we smiled thinking we are going to get one of those too....lol. After our presentation their gopher took us out for a quick dinner and ran us by a topless bar...... Our work, knowledge and timing was spot on and we were the only reason they made/ beat plan and they all got a very nice bonus. We did another great job for them based on what we presented that day but I was out of there before the next years plan was over. I laugh about it now but so does my cohort who followed me to Pepsico Restaurants where we did some great things again. I laugh about it now but I know the hurt when you do a great job and it counts for nothing but you own satisfaction for doing it. A good lesson to learn so you don't make the same mistake in not letting those that make it work feel appreciated.
I copied IR but imagine it will be read by mgmt too. Feel free to send them a copy with your thumbs up or down. In my opinion they need to know that our eyes are on them and they need to take care of their shareholders. In my opinion they have done some good things in building OUR asset base. However I give them a C for how they are communicating and managing their strategy on OUR assets.
Should the CEO be fired? Lets be honest here the company has performed fairly well as it works for them. So far it would seem they are incented on other factors than increasing the stock price. Perhaps they are incented on production, perhaps on profitability, certainly not the stock price. Guess what shareholders bend over and squeal like piggie you are just not important here you're in the way. If mgmt can looks like they will continue paying a divvie but the stock price will collapse as they seem set on a greasing their pockets with most of the proceeds and not supporting the stock price. What good is a $,36 a year divvie if your share price drops 35% as it has this year. That's called bendover and squeal like a piggie. Looks like WE have some very nice assets to keep the production going. However your dedication to moving the stock price up still feels sketchy. I hope I am wrong and you all are honest, and have shareholders interests at heart. All I can say as of now is please prove me wrong. I am down six figures on the my investment so I hardly feel this is a good asset at this time and if mgmt is getting big bonus money its not deserved if you are not supporting the stock price. Why not share the measurement incentives for their bonus and salaries? I am and expect most shareholders hope that mgmt. shares in our in successes too in addition to their compensation.. So please improve our understanding on how FTCO is sharing the wealth. Because at present I see nothing but continued carnage in our investments. Please prove me crazy, wrong, stupid, irrational! I truly hope you can.
Thanks for your comments BPH, with today's selloff we are close to 10% on the divvie. That's a dang fine return and still lots of upside pressure on POG.. I got my graduate degree at Kellogg School, Northwestern. Still have my copy of the WSJ article somewhere stating that we were number 1 in biz schools a couple of years after I graduated late 80's. Either way whose splitting hairs both are excellent Glad to see you are in the shareholder pool. Are you also bullish on AU/AG? Have to admit after watching the mad printers at the Fed and CONgress it just keeps getting scarier. Appreciate for your insight.
Best KC
JSC, As my dear Uncles used to say while playing horseshoes at my Grandma's and Grandpa's house and someone threw a ringer. "every blind hog finds an acorn now and then".....squealing like a piggie with an extra acorn.... lol even if it was only a 150 shares at a better price and .... and maybe some extra divvie. I'll take it with a smile. Thank you veery much.
Just a guess here but with all the macro shuffling around and no significant sell off in PM's I am just getting the feeling that this is the manufactured short and buy strategy now being executed. More big money is moving in the Au/Ag sector and they want sales prices to buy in on the stocks. Don't have any evidence at this point just a vibe and 11 of my 12 miners are down. I bought some more FTCO today dang yield is ~10% . Gritting my teeth and buying some more shares. Do think the downside in FTCO price is close barring any production issues. That and some updating on reserves that we need to be positive and maybe its time to watch the price head up$.
I think we would like more detail in the production outlook as well as the anticipated production for at least 18 months out. I understand the stockpiled ore is significant . I would think they have a pretty good handle on their processing execution. Would hope they could provide a bit more detail on the plans going forward. While Jason has improved on addressing the shareholders still room for expanding the scope and longer term options. At present it looks like we are getting very little value for our future production. Perhaps that's due to the current inventory as well as current expectations discounted due to the lack of validation to date on future production .
We still have lots of potential due to the solid job in claiming what looks like a some excellent geography. FTOC has a history of outperforming on many fronts which has created fairly high expectations. Hopefully they are going to continue delivering. Perhaps an effort to give us a more long term view would be valuable and garner some patience by us shareholders. Which are entitled to that next level of production expectations.
Thanks.
They have no moral compass if they continue to line their pockets at the expense of shareholders. They are sitting on a massive amount of cash but will not buy back shares at below bargain prices? what the heck does that mean? Probably that they are all expecting big bonus payouts while the shareholders cry for a bit more gruel please,.... I guess we are supposed to satisfied that they are giving us our some of capital back in the form of a $.48 cent divvie a year that we get to pay taxes on. Well its my own fault I guess Buyer Beware....of FTCO dey gonna skin you and good...Squeal like a piggy boy you been smoked and how dare you want to know about plans for the future. We got skiing to attend to..... We got no time to mess with you besides your out of $$$. How dare you expect to make money. Move along SUCKER! Squeal like a Piggie you been had!
Anybody try and contact these CROOKS! I have called several times and NOBODY even answers the phones....its pathetic. Last time I got an answer it took well over a dozen rings as no one was there as they were on Ski trips..... Wake up we are getting screwed! All we have received in compensation so far is just a partial return of our investment which we get to pay taxes on even though its really just a return of our capital.....as so far the divvies received are somewhat equal to the loss in the stock value. Look at the price of gold well over $2000 an oz. and we have no effing appreciation? Yes I know the miners have underperformed in several cases but not like our turd. Are you freaking kidding me! Since Daddy retired the rats are in play I don't think Jason could manage a boy scout overnight. It's still a deer in the headlight moment for him when he presents. Its not that I think the assets are not valuable I am just wondering if the shareholders will ever make a freaking dime on them. Shareholders...bend over and Squeal like a Piggie....you are not worthy of anything but maybe a return of your devalued capital ....maybe.... Show ME the Money not the Vaseline Jar ! Yes we see that big wad of cash where is our share? Certainly not in the stock price were we can use a capital gain and get the hell out of hell.....TOTALLY TIRED OF BEING MR NICE GUY! Prior to now I have stood up for Mgmt and tried to be patient..... that is now GONE until we see some progress FOR THE SHAREHOLDER! Patience is gone like the stock price! DOWN DOWN DOWN! Please get us some positive returns so I can quit being nasty. YOUR GREED IS NOT SUPPOSED TO BE EARNED BY SCREWING YOUR SHAREHOLDERS!!!!!!! SHAME!
The Mgmt team that bought Goro was sketchy. I sold it pretty quick after the sale turned out to be a good move. FTCO has a much better resource and being in the U.S. looks better.....at least for now. Although still nervous about our future too.
NO SOUP FOR YOU! Anybody remember the old Seinfeld show line meaning you are getting hosed passed over? Well welcome to the show.....maybe. Anybody seen the cash position of our Fortitiude? Anybody thinking our cost per oz vs the price of AU is awesome? Anybody notice our share price is rediculous? Anybody guessing on what bonus money will be getting distributed in CO? not that its not deserved just wonder what's the reward for us shareholders? At present we have no positive return on our stock price compared to the IPO price even if you add in all the divvies which at this point are nothing more than a return of capital. The big wad of cash is for what? Debt what's that? Strategy? we are low cost making lots of money $$$$$, Anybody remember the divvies from GORO? wow that was smoking hot? BAM those were good and shareholders well rewarded....now where's our Christmas Bonus? not even a penny or two? Yes mgmt does deserve a reward for there efforts but so do shareholders.....do the homework and we shareholders ain't seen nothing yet! add in the taxes on our return of capital (AKA divvies) and we are losing ground. Something needs to change. Retained earnings for what? Our mgmt team was smart enough to grab a excellent chunk of Nevada and we all should be grinning! Not so fast we need to hoard all the money and shareholders be damned! We have have the golden Cow and we need to retain all the earnings.....except for the original hook divvie.....oh by the way how is that stock price doing? Maybe those shareholders are not happy enough to continue re-investing in spite of a +2000 gold price? Are they smelling a rat or just waiting to see how the cheese is going to be allocated....
I'm no spring chicken...married in 1980 at 24. But that looks like you still have over 10 years on me. Feeling a bit older this week as a dear Friend since age 5 passed away. Best year of my life was spent living with him off campus in College. Both ended up finding our future wives that year. He developed some health issues a few years back but the end came fast. His body got torn up doing sports mainly H.S. but lots didn't show up until he hit 65. Knew it was really bad when I called him a couple weeks ago and he couldn't even talk. My Dad is 92 so maybe I got some of his longevity. I guess time will tell.
Guess I will re-invest some or all my FTCO this month. It looks as undervalued compared with the market but still think mgmt. could be doing more to get the price up. They seem to think a 7% divvie we get to pay taxes on is a home run. LoL
JSC sounds like you have been paying dues too. As far as the bride sounds like you're making the right sacrifices..... As one of my best buds used to say "If Momma ain't happy nobody is happy"! After 43 yrs with my wife I tend to agree..... As far as these Markets they continue to be "managed" Hard to keep your head up as we are all tired of buying at discounted pricing that continues to get discounted. I continue to re-invest divvies in the space. Yes FTCO is undervalued and Mgmt. continues to be too conservative in either divvies or stock buy backs. After what was a All Star run with GORO they have turned too conservative. They are hitting out of the park but seem to be more worried about their positions than US shareholders. More GRUEL PLEASE to quote the Christmas Classic. If you don't want to share the wealth then FOAD
Hey JSC good to hear from you. I started with Quaker in St Louis as a retail rep in 79. Called on small chains which at that point there were still some there. Caught a break as Quaker liked to promote from within. Was an Ag-Econ/ Biz major at Missouri State and after testing and reviewing my work history they brought me to Chicago their HQ. Was a transformational break for me. Two years before I was working in a hide house that processed cattle hides from processing plants around MO, OK,AR and KS. tough job and also pretty nasty. I guess in retrospect it was a dues paying kind of job. My bride would make me take off my clothes in the garage of our rental cause they would stink up the house. When the route drivers didn't show I got the cover backup and it was stinky. I still remember going in to pick up food and people would clear out as I stunk from picking up cattle hides that may have been sitting for several days to a week in the heat...pretty freaking RIPE. To say the least it was a humbling experience. Bride and I decided her job was the better one as she was working in a steel foundry in St.Louis. I started looking and was lucky enough to get hired. by Quaker Oats. I worked retail and small chains in Metro St. Louis out to Herman, and south St. Genevive Mo.. Was a good break. Did that for 2 years and then after having a some decent results was given the chance to test. Turned out to be another break. Scores were good enough to interview for a job at HQ in Chicago. Got the job and was another great opportunity. Worked for a couple years and they encouraged me to go back to Grad School. Got lucky and scores were good enough to get into a top Biz School. Northwestern's Kellogg School which was a top 5 biz school. Was really lucky to have that happen. Took me 3 years to complete the program. Again timing, and hard work paid off. Good luck continued to present opportunities and the volatility of the Commodity markets provided the challenges that my education gave me the skills to seize the day.. After a few good years I was starting to get interest from other companies in the food chain. Pizza Hut/ YUM started to court me about coming to KS to work for Pizza Hut. I came and it was great....then after few years they decided to move to Dallas. Didn't want to go back to a big city. Commuted to Dallas and worked for them for a about a year and a half until I decided I was done. They gave me a great increase and made me a V.P. but I didn't want it anymore. Now nearly 30 years later I remain thankful for the opportunities and having the resources to be able to take advantage of. Thankfully been able to make a good living consulting and managing commodities positions What's your story?
Totally agree the base should be Phizz the only risk IMO is how to protect it. Not really talking about the market price you probably have already made your mind up that buying the dips when you have $$$ to invest is sound protocol. Do those that predict a 1930's call on the physical metal have it right? If so are you the in the dog ate mine? How do you cover your rear end in that scenario?
Just one more comment. I certainly don't look down my nose at Millers. I worked 15 years for Quaker Oats in procurement and worked with their milling teams in Cedar Rapids Iowa and Shiremanstown PA. My desk was right outside the Director of Grain procurement and sales. Learned a bit about the skills and was always aware of the intrinsic challenges with how the weather challenges had to be figured out and managed. After that I spent a decade working for Pizza Hut in Wichita. What I learned with Quaker Oats helped us at Pizza Hut. Totally respect you guys!
I pretty much had my say. Good luck to you I guess we will differ on our viewpoints.
Your way to wound up with technical trading. I know that's what everyone wants the markets to trade around but that's only part of the story. I ran a multi billion dollar commodity group for Pepsico Restaurant Group 1992- 2008s now known as YUM. Also for Quaker Oats from 1980's until 1990's. Ag Biz Undergrad, Finance MBA Kellogg Northwestern U. I ran the commodity group for Pizza Hut and their Commodity hedging. Also for Yum. Would guess you have been engaged in playing technical trading for awhile and don't pay much attention to the fundamentals. That's fine for you. If you have no skin in the game then why creep around and insult those that do? Do you have a Job? What are your qualifications? Are you a paid troll? I have followed Palisades for a ~ couple of years they have some good guests on a pretty regular basis. I have number of positions in the miners as well as a physical position. I started buying PMs 2006 in as well as miners.
B.M.Right. Maybe you should stick to grinding wheat. If you don't like the stock then sell it and move on. As far as AU. prices I started buying PHYS at $ 666 so I am not overly afraid of the short term technicals. BTW I also was V.P. of Commodities for Pepsico Restaurants aka YUM also Director of Commodities at Quaker Oats in Chicago where I went thru the Commodity classes at the CBOT and the Merc in addition to getting MBA at Northwestern. I am not TRADING shares I am an investor. My days of 40-50 pages of trades for the IRS are over......YEAH. Good Luck with your trading, Hope you do great and make $$$.
Thanks LJ, Saw my neighbor had bought a new truck and stopped to chat with him. He runs a feedlot operation and times is GOOD! While he pastures them as the weather allows he finishes them on the grain he grows. Needless to say times are good for him with these markets
Hope you are correct and we get a selloff. I am looking to buy a bunch more gold and add to my miners. Am strong with the rational thought process that the average Joe like yourself is probably like you still thinking that butt wipe fiat is the way to go. They will be devastated and then will clamor for the real money, The rise of PM's historically has been repeated over the last +2500 years as the fiat FAILS
At present we are still getting away with the massive printing of fiat. We the USA (maybe) the last horse at the fiat dog food plant but regardless the party is winding down. The weaker fiats are already cratering and perhaps creating the downdraft and the perhaps the reason the U.S. butt wipe is looking stronger. However spending even our fiat is buying less buy the month. If you believe the gooberment on our inflation numbers then that probably explains you mental shortage on the real money. Either way you can run along now or stick around to humor us and who knows you might even learn something.
Looks like another solid batch of drill results in the backyard of our Nevada claims. Thanks to the team again looks like we are pushing out the portfolio of new areas to mine at good cost. Congrats to the FTCO team. Adding under $6 looks like a no brainer
No Divvie yet showing at Schwab as of 5;00 PM 9/28. Have 3 accounts at Schwab that have FTCO past closing time and still not showing any divvie dough. Anyone else seeing the divvie? Schwab has been a bit slow lately on divvie posting don't know if that's the Company or Schwab or the Banks. Know that we are seeing the system getting a bit more risky so what's next?
Thanks for the comments. I am good with the current exchange for now but would totally appreciate Jason/Team providing us with the Strategic Plan for developing the resources. We have a nice stash of cash and what appears to be a sweet bundle of assets to produce. Since we have had a year plus to evolve some strategy as well as kick up the dust on our properties a bit more would like to share in what the learning curve is providing and leading us to consider. I can imagine they are quite busy but also feel shareholders need to also have the benefit of what is transpiring. At present I feel like the proverbial victim of the management strategy of keeping them (shareholders) in the dark and feeding them shat. Also known as the Mushroom Strategy..... Maybe a bit impatient on my part but felt the need to remind them of how much we appreciate being included. That said its not my intent to vilify their efforts in fact quite the opposite its to appreciate what they have potentially discovered which looks like big time with lots of upside. Thanks FTCO team and keep up the solid decision making.
KC
Thanks for the comments Dino. You are correct the AMT and divvies found that out last year. Totally sucks seems like they just keep chewing away on the tax breaks and deferral options. I have been acquiring Physical Metal since the late 1990s have not sold any yet. Do you have any scoop on the best way to sell PM's relative to taxation?. I hope to be able to leave it to kids and grandkids but who the heck knows how that plays out.
Best
KC
We have a number of options for new mines already identified and the processing as you know is in place. We are sourcing from multiple locations already. Have you checked the cash on hand lately? Our great staff has found additional resources and the challenge is to increase processing capabilities. Yes we have used up some of the low hanging fruit but we continue to find new options for increasing production with low cost pits. We truly have an incredible portfolio of PM resources to manage.
We are still producing the top open pits in the country. How much cash do we need to have in the bank? At this point I am more worried about the Feds raising our taxes and taking higher amounts of our income than running out of gold at FTCO. How are you discounting that probability ?. The Biden DIMS are already pushing for higher taxes and I expect that to get uglier as the overspending reaches new levels of helping themselves to more and more of our income.... How comfortable are you on that front of more corporate taxes and more personal taxes. My state KS has already increased their pounds of flesh. I would be interested on how FTCO might plan to manage that risk given the cash position they are hoarding. I honestly think it's naive to not discount the probability that we are going to see more taxes on both corps and individuals.
You are correct the share count is not an issue as its relatively small. What share buy backs tell me as a shareholder is that the company endorses the fact that the stock price is undervalued especially as you point out the share count is quite conservative. Why sit there with lots of cash in the bank earning a money market rate when investing in your own undervalued shares via buy back removes the divvie payout for those shares? The other caveat would be you are getting ready to make another killer acquisition so it that's the case....never mind
That aside makes me question where the Heck Jason is getting his advice from????. Did you see the effing clown show he had going on the website....a boat load of fools pimping the stock!!. Was that from a marketing class from the local High School?
As a retired commodities Portfolio V.P. for a Multi Billion dollar Corporation I can' t understand their strategy relative to their loyal shareholders. Back to the start we loyal shareholders are at best just below breakeven based on current stock price including all divvies . Why should you continue to throw us under the bus with negative returns??? At this point I am hoping you get some gumption or you get a great opportunity to be a playground monitor at your local grade school. As my ability to perceive the strategy of enhancing shareholder value remains a mystery of massive proportion. PLEASE make a fool of me with the bigger picture.!!!!! As I just don't get it! Meaning why are we still eating negative returns on the stock price with near $2000 gold prices?
Yes I am familiar with the drip program. I am a Schwab customer and they don't make the Drips part of their package relative to FTCO. Their commission is low enough and my position in FTCO is significant enough that reinvesting is not a big deal relative to re-investing divvies.. I have re-invested almost all of my divvies here so far. My issues are even with the re-investment my gain on FTCO is nada relative to the IPO from GORO along with all the divvies being reinvested along with additional capital is ZERO
For whatever reasons even with all the assets rolled into FTCO the gain is NADA.. That includes all the cash they have added as part of profits from selling the gold and silver. We shareholders have received no net profits for our investment. Meanwhile we do have to pay taxes on the divvies. So up to this point we are paying income taxes (divvies) on no net gain on our investment.. My point is perhaps its time to deploy the massive amount of cash to reward shareholders or shrink the share count by buying back shares (my preference) that we can hopefully get some capital gains due to a higher stock price.. Based on the great job they are doing in producing as well as the excellent cost per oz. produced. Last I checked they have the best mine in the country based on Open Pit Grades. If they buy back shares then we have the option of divvie increases due to fewer shares and or a better a P/E that grows the stock price. I'm at retirement age I appreciate the income but capital gains are of more value as I still have some previously held shares that I have capital losses from (GORO). So while divvies are great gains are also appreciated. Again Congrats to the Mgmt Team. for very good results. Please keep it up!
When will Fortitude make us some freaking $$$$? Well when? I doubt I am the only one that looks at the miserable performance of FTCO stock price. I was noodling around a bit the price of the stock and probably am not the only one that has connected the dots on the stock price and all dividends paid to date. If you add all the divvies paid by Fortitude since the spinoff to the current stock price guess what.....we haven't made a freaking dime on our investment. In fact if you factor in the price plus the taxes on the divvie we are LOOSERS. How great is it to have to pay taxes on a stock you have not made any money on..... Welcome to Fortitude. Not to say their efforts have not yielded decent production results just that the results have not made us the SHAREHOLDERS any $$ after the taxes due are factored in. We want to MAKE MONEY.
I think we are past the time where we should be net negative on our investments. How about we buyback our shares at these prices with some of our profits? At this time all the divvie cash is not doing us shareholders any good at all unless it gets reinvested and at present that's not available without commissions. Maybe even better we hold onto the AU and stockpile that instead of selling it.. Anybody out there think AU is going to go down with all the $$$$ being printed by just about every. Lets be our own GOLD/SILVER BANK. Keep the production. If you want cash then YOU or I liquidate shares. What we have now is not working to honestly value of the shares. If we continue to hold the gold we have more options on how to redeem our shares. MGMT needs to think outside the box as this current effort is a fail.....
Good podcast on GOLD and Society to listen too. All the Best to those in FTCO and those working hard to optimize our investments.