The only way to succeed in gold stocks is to buy low and sell high. We've got a lot of gold at Ollachea for a price that we'll never see again.
No that's all he said. He used the word "advanced" when talking about financing negotiations.
The link is to Integra Gold (ICG on the TSX), another of my favorites. I think the same thing happened to Minera IRL as happened to them. Onward and upward though! Buy low, sell high!
Some Canadian institutions had to do some selling they didn't want to do recently. Pinetree example, from a news article "The debt covenant at issue prohibits the company's debt from exceeding 33 per cent of the total value of its assets, as reflected on its (unaudited) consolidated balance sheet as at the last day of each month. As at Oct. 31, 2014, Pinetree's debt-to-assets ratio was 38.8 per cent." This brought the share price way down on some companies but not for any fundamental reason, but just because these financial institutions were forced to sell quickly. I believe we're at the lows for these companies hurt by this forced selling. Read more at [link]
It looked like insiders bought most of those shares for sale over the past month, so I think it is a very good sign.
If you just look at the TSX, it has seemed like a seller from Dundee was the cause of the price drop. Not sure about London.
The phrase "mid-tier producer" was used also in the press release or the call I forget which.
It wasn't very long. The tone was quite positive and they seem excited to move forward although obviously the financing isn't finalized yet. Corihuarmi continues to do better than expected. I was hoping to hear what the plans are for the future with regards to further exploration at Ollachea. I asked "Will there be further exploration at Ollachea during construction?" but I was a few seconds too late and didn't get the question in on time. I'm hoping this will be an ongoing catalyst.
Executive Chairman Courtney Chamberlain said "I am confident we will be able to announce financing in next few weeks".
conference call in 9 minutes. the UK number is (800) 051-7107