Thursday, May 24, 2012
Why anything to do with Russians is a bad idea
Yeah. Something must be making this stock go down.
Maybe it's the fact that their mine in Val d'Or can't dig gold out of the ground at a profit, maybe because among other things the company failed to pay the bills for the workers' health plan; or maybe it's because they're selling their only profitable mine, a tiny 19th-century operation in Peru; or maybe it's because now that the company's out of money it has to sign up for loans from companies that happen to be connected to management; or maybe it's because they're headquartered in the British Virgin Islands, which apparently is a red flag for any "publicly listed company"; or maybe it's that the TSX has put them under review, with threat of a de-list.
Or maybe cos it's run by Russians.
Rule of thumb: never invest in a company with Russians in it. In any way shape or form whatsoever.