Beats me?? I've called for $0.15.
Nobody has called me a basher. I could care less one way or another. You still do not realize that, at the moment, management could care less about the retail share price. They are not diluting or selling shares. If anything they are buyers over the last six months. No insiders or large investors are selling. So who is it that really cares? The guys selling or buying 4,000 or 5,000 shares, or even 50 to 100 shares! LOL. The ankle biters don't count. I think the shares will continue to drift down to below $0.20 and maybe sit there for a while. I think $0.15 is a good target. Don't you logically think the price will drop substantially when we report two consecutive losing quarters EPS? Never mind the very good reasons. That is all many little people look at to make their investment decisions.
I've never been overly impressed with some analysts. They do serve a purpose; sometimes do guide the clueless to better investments. The guy working Zacks read on the company does not appear to know much. I don't believe he has even visited Panama or Molejon. Others like the Millionvest guy from Germany took the trouble to actually go to Panama and investigate for himself. Zacks report on Page #14 notes of his last report said the PDI spin-out was already approved by stockholders, and he never corrected his error. He makes forecasts ignoring the sector and macro events. Some here screamed to the heavens for analyst coverage. When the got it, they complained about it, and it makes absolutely no difference in the share price.
The real problem is that most of the issues are, and were, out of the company's immediate control. In the past: No commercial permit for one extra year, the famous mining law screw up, late equipment and maintenance materials delivery, 100 year rain event, MIPSA delayed two years, bureaucrats rejection of NI 43-101 18 months after approving it, and on, and on. In the present: Current problems some company specific some not: sector down over 50%, heap leaching coming on line slowly, high grade ore still under aggregate held up by MIPSA, downtime for expansion interfaces, late equipment arrival, slow approval for start up in Spain because of close elections, and on, and on.
I have never been an advocate of forecasting events to the public. Discuss your plans with your lenders and major investors. The retail market has, neither the expertise, nor education in the industry to understand. Many small investors have never even run a lemonade stand. Just file the legally required reports and let the results speak for themselves. If things had gone as legitimately planned we would be producing 25,000oz. in Q1 instead of maybe 14,000oz.. There are good reasons for both numbers. The small investor does not care. He only says that OMG I'm down $10,000.00!!! Hang management!!!
It is entertaining as hell, but not too useful.
Bottom line: Shares will be very, very cheap now that PDI record date has passed, and until there is some definition of whether or not it will ever happen. The company has covered their liabilities, and if TSX won't allow it for whatever reason they are off the hook. It did not seem to affect the share price in any case. Look for calendar 2013 to be very profitable, until then just keep on buying as cheaply as you can. If you do not have confidence then sell and move on. Sitting and complaining as some do goes back to the old "Lion with the thorn." problem. If you do nothing...nothing changes.
Good Luck with you next investment.
AI
