I was going to buy into this company until I started reading between the lines. I'M NOT A BASHER. I am a stockoptions trader & investor and dib&dab in pennys. Now, Here are my reasons for my opinions on this company.
1.)All of those aquisitions. The more I read into this company, some things weren't sitting well with me. Are they really Physical Companys with earnings? We don't know! Based on my knowledge of trading and investing .. I know for a fact people set up what are known as "paper companys" (companys set up legally but never establish a physical presence) they are perfectly legal but morally corrupt and they traded as such. So the question I have to ask myself before I invest..is.. Are they aquiring paper companys or physical companys OR Are they themselves a paper company aquireing other paper companys? Now, Why do I think this may be a paper company?
Answer: No earnings! All I can see is someone is just flipping paper around and cashing in at the same time. What about the Div's? Where are they? Again flipping paper! I need more substance and fundamentals, some true and proven reserves and earnings. If you go to their website you will see they a few mines that are "Dorment". Do a comparsing with other small cap mining companys and you will see the diffence in business practices, technicals, news reports and other things(paper vs. physical) If you are reading this post objectively and open minded. The REASON for sooo many news reports in one day STARTS TO MAKE SENSE. Now I'm saying you can't make money. You can and will. But playing the paper game is just that, A GAME. But play it right and make some mad mooolaaa. But for the long term investor thinking if you hold on to the 1 million or what ever amount of shares in hopes this will go to .50 or 1.00. your dreams will never be realized.
2.) I went to their website to see the people who were behind this company. I was SHOCKED to see a picture of a man in a fanel shirt looking like he just came out of a mine, as the CEO. Maybe it is just me but in the corporate investing world I like to deal with corporate people not construction workers.
3.) I read some where that they had $800 million in assests.. Where?
4.) The whole idea of going over to Europe to get on the PK's through the back door doesn't sit well with me either. Seems way to shady to me and I am a very big risk taker but I'm not stupid.
5.) Remember this a "company" in a sector that swings in tandom with the over all market sector. ie: If the price of gold (over all) is down so will the stock price in most gold mining companys or gold related industries. This stock was down today right? Well.. So was the sector!
These are just my opinions and not bashing this company, I could be wrong but I doubt it. If your making money? Keep making it .. Its the name of the game . I feel the amateurs that are holding long with pipe dreams should know the other side of things. My sugestion is simple and sweet READ BETWEEN THE LINES!!!!!! and use a little COMMON SENSE !!!!!! To you traders, keep gettin while the gettin is GOOD!
Thank you
