I've been down this mine many years ago previous decades, let me tell you guys something. That mine is loaded, even after it gave up what she did over those decades, there is so much more left.
I've been down to very bottom...THE VERY BOTTOM. Seen the legendary Hanging Wall. Been into the emergency escape tunnels linking Caladay to Galena to Couer.
That's why I knew what it was, bought a huge position over 1 million+ way under 5 cents and sat. I saw the idiots coming and going here, literally with my own eyes. I saw people coming into town from Wall St, showing up at the restaurants looking out of place with Tom. I saw the Canadians, I saw the Ross's, I saw Sprott. I saw where it was all headed. Saw the numbers they were throwing at us it was insulting I agree. I never wanted to sell this one, I really honestly didn't. I thought it could go much higher with the potential they had. The potential from retrofitting the mine shafts and rebuilding them to ramp up production was a step in right direction positive things were going on. People were going back to work, engineers hired, things were good back then. But, when I saw the sharks circling, and I knew silver was to high I just knew unfortunately it was time to sell. So sell I did, when it was very near the peak. Notice I took a hiatus for some time here?
I knew the evolution of the mine over decades, I know the mysteries she still holds like no one does. The Caladay is untapped, I just can't get my hands around even today why they did what they did. There were other alternatives, now look at her, look at the pps. It's still much higher when I first started acquiring for under 5 cents, I just never thought that it would be raped and plundered corp wise in the very beginning. I believed in what they were doing was right for the mine, miners and the Silver Valley in general.
I'll tell you a true story, I was hiking miles up above in the backcountry along the West side of the Bitteroots back to the lakes to fly fish for a couple of days just my dog and I. I needed some down time and think about things somewhere no one would find me no cell phones nada. If you know that area it's rugged and pristine and I know every inch of it and the Selkirks etc. I was skiing up at Silver Mountain a few months earlier and this asshole I over heard in the bar was with a few others out of towners from Canada and NYC. What a mix hugh? Morons from NYC Wall St types who don't know how to ski i ntheir $2000 Bogner full heli ski suits looking like the rooks they were...with the drunk Canadians running their mouths off. They had no idea who I was. But boy they could run their mouths off after a few beers and shots. So, from my chair a few feet away with my back turned to them I listened with my hat pulled down, looking straight down at the bar. I just sat there and and drank my beer.A few times I swung my chair around and gazed at them huddling their asses to their chairs talking and pretty much bragging. That's when they started talking about the Galena :)Idiots.
So a few months later, back to me fishing at the lakes. I thought long and hard at the morons who I had seen coming in and out of town who had no connections to the area and why they were there. Money. Pure and simple greed. They didn't give a shit about anyone except what they can line in their pockets. So, I started to think up there as to what I was going to do with my investment. I hadn't quite made my mind up as of yet, but when I got into town I went over had a beer. Guess who I bump into? Same aholes running their mouths off at Silver Mtn this time they had a special guest. That guest will go anomynous here, but I'll tell you something I knew right then and there I was out of this. I didn't like what I was hearing and I sure as hell didn't respect what they were doing with the Galena thats for damn sure. No insder information but just bits and pieces and it wasn't good from what I could make of it.
I waited awhile, it was a gut feeling something you know. I started selling.
As far as the pps now, man I couldn't tell you how I feel about it. With them cutting back on mining crews trying to reduce their costs not sure. Hopefully they can continue to produce ore and reduce costs make a profit with good margins. But, it takes many years and decades to fully develop an asset like the Caladay and this is a very very big project with many millions of dollars and more importantly a corp that is willing to undertake what the Galena holds still deep in her. Shes a stubborn old bitch is what the old timers used to say about her. But, she'll give you riches if your patient enough to work her. Not so sure if these current characters are the ones to do it. I'm watching nonetheless.
Boots on the ground intel is always the best when you invest into these types of companies. Reading message boards and doing DD on a computer only takes one so far. When you big and deep you can lose your butt, but when you hit one it makes the time, money and effort that much sweeter. Nothing makes me happier than beating the scammers on the Street at their own BS. Nothing better than betting on small companies with large positions before Street gets wind of it. When they do, that's when I sell. Sprott saw that guy coming across the Bitteroots, that's when I ran amigo.
