Friday, October 4, 2013

And as for Tower Hill Mines....


Just look at this chart:



So, two things to note:

1. In 2.5 Years their stock price has gone down NINETY FUCKING SEVEN PERCENT FOR THE LOVE OF CHRIST.

2. Presently their stock is at 24% of its 50DMA.

What an utterly worthless sack of shit.

Proven & probable reserves of 10 million ounces? Really? Proven and probable? Are you sure of that? Because you've collapsed down to a $30 million market cap right now. That suggests that the ten million ounces of P&P gold have no reasonable possibility of economic extraction.

4 comments:

  1. Not just that, but if you look at the technical report for their Livengood project (Its the actual geographical name of the place, not a tongue in cheek remark to their shareholders) its a mess.

    All in costs are 1480/oz. Under 1500/oz they have a negative IRR and at 1500 its only 1.7%.

    Yes...that's how big of a joke this company is.

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    Replies
    1. Is this a fundamental problem with the concept of the NI 43-101?

      I mean, does it specify that your reserve has to be P&P at a realistic market price? Because if those ounces have no "reasonable prospect of extraction" til $1500-$1600, then they did honestly have P&P status til March 2013; they didn't have them afterwards. But apparently they can still legally be reported as P&P, no?

      If I had $30M and it wasn't in fucking Alaska for god's sake, I'd actually be happy to swoop in and pick those P&P ounces up at the present $3/oz price, just to sit on them for 5 years. Assuming I was certain the TR wasn't bullshit of course.

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  2. Livengood Mining Corp. is a good name for a pubco...

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  3. The Feasibility study was by Samuel Engineering, their Qualified Person - Richard Kunter

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