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.


  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.

    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.

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

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