I'll just give some quotes from today, spelling mistakes and all. After all, the point is really to illustrate how much damage even a (formerly) billion-dollar star exploreco with bonanza veins can do to the entire junior scene in Canada.
"They should of waited until the entire bulk sample was done and released the results. These partial results obviously has the market in a tizzy as does the fact that Strathcona found 94% less gold than Snowden.The bounce off of $3.08 was most likely short covering. They have turned this market into a casino at best."Yup... great way to rescue the integrity of the exploreco scene, eh? I mean, investors have a choice of (a) just buying SPY at the initiation of this ten-year 500% bull market in US equities and then going on with their life, or (b) dicking around day-in, day-out with a bunch of casino stocks in a notoriously corrupt goldbug scene. So is it any wonder that investors have fled the goldbug field?
"So how does this finish...one the grades disappoint, or two the grades improve and this "shakeout" was SO UNNECESSARY...either way IMO not very favorable to shareholders, and credibility here continues to erode...very sad, the Gold sector continues to shoot itself in the foot, and give itself a blackeye."Yup. At minimum, if PVG is in the right, it's still a vicious and painful >50% shakeout. Anyone who wasn't prepared for a 50% drawdown is expelling shares from both orifices as we speak. But hey, maybe the explorecos can petition the Venture exchange for changes to the regulatory system. That'll fix everything, right?
"Yes, and its stated in today's PR - The tonnage processed and the grade of the gold and silver produced from the material excavated from the 426585E development going through these stopes was estimated to be 1,451 tonnes grading 4.6 grams per tonne gold and 6.8 grams per tonne silver, based on the preliminary mill results estimated for the 426585E Stopes."And yet the stock is down, my good man, which might suggest that your interpretation isn't making you any money.
"This is not the first shake out I have ever seen in a gold Jr and it will not be the last. I love when the sheep start running. The grades so far say mine even though they are not what was expected. The POG is heavely suppressed at the moment and when that supression runs out of steam this property will be a 'Gold Mine'"I tend to discount any statements coming from a guy who talks about "gold price suppression". I learned that in my Golden Hope days.
"That was the same math running through my spreadsheet and yes, it is significantly less than expected. PVG bulls can come up all types of excuses, but this looks really bad. I was bullish on this stock prior to these revelations. Reporting all types of high grade results over very small intersections of 0.5 meters gives investors the impression that the whole project is of similar grade, which is obvioiusly is not. Seems misleading of managment."Salient point here: "this looks really bad". Seriously, Bob, why did you go out of your way to make PVG look bad? I mean, maybe I'm just a dumbass, but I'm looking at the price action caused by this ruckus and I'm wondering in what way it indicates the ongoing creation of value for shareholders.
"also, strathcona is now reported in same release as telling them weeks ago, there is NO RESOURCE, reporting well after the fact is pathetic....lets not forget that strathcona was the bre-x scam outters"So in other words, Strathcona is held in high esteem by the industry? Well, in that case, Bob, if there were flaws in their methodology you should have established that prior to hiring them. Instead of pissing them off.
In the words of Canadian poet laureate bill bissett:
Powerful people can fuck up too