SOmeone knows sometning or needs a big loss to off set someting which IMO is a terrible way to go
Years ago, this was Allied Nevada (ANV) till out of the blue, ANV declared bankruptcy, screwed all the existing shareholders and then was 'bought' out by Hycroft or whatever the hell they were called at the time. But it was a royal screw job for ANV shareholders
Same thing just happened to AXU shareholders. They got their permit to mine, was making strides to ramp up production. All of a sudden the share price which had been sliding due to the slow progress in ramping up production, dropped to the 40 cent range, and out of no where comes an announcement that HL was buying them for a 'premium' (47 cents/sh) to the 'current' share price of 40 cents. Which screwed royally all of the existing AXU shareholders. But was a hell of a bargain for HL.
No idea whats going on here, but wouldn't surprise me if they get close to production, and sell themselves off to a 'bigger' player, many who reportedly are looking to increase their 'revenues' thru purchases rather than opening up new mines themselves.
disclaimer: yep, got screwed in the ANV deal, avoided the AXU screwing because I had sold out higher when I didn't like the chart, and hadn't reloaded tho will admit, when it was at 40 cents, it was a screaming buy till it 'wasn't'. HYMC at this price should be a nice buy, but just can't figure out whats going on, and quite frankly, haven't really liked HYMC after what they did to ANV shareholders. Despite the resources they supposedly control.
