The real question is how does a company trading for $1.07 report a Q3 earnings of $0.65 Sixty Five freaking cents per share and merely tap $1.31 and then nose dive back to $1.00?
Why would they sell the property? Because guitar center does not make any profit off of the top end Gibson Les Paul or M-3 ESP’s, nope they lose money on those and make money off of the $200 fender 100 series they pump out of Hong Kong for $0.12 cents a dozen. Why did they sell it? Because the capital raised can fund the operations to sell off the other assets. Nobody at LODE wants to actually mine gold, they want to sell the company and make money. They just want to shuffle paper and play the environmental “Save The Spotted Owl” card that DeCaprio expounds upon in Wolf Of Wallstreet.
They are leasing Daney Ranch for 9k a month with option to buy. Not Dayton. 2.7 mil sell price. Also the buyer ownes the drilling company that is currently working for Tono. So they have the option to use that 2.7 mil for drilling instead of cash.
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