Re: Calling all Kimber shareholders to call
in response to
by
posted on
Oct 25, 2010 10:17PM
Creating value through Exploration and Development in the Sierra Madre of Mexico
Kiwi,
Wow. Sixteen minutes from my post to your reply. You really are sucked in, aren't you?
Better close the bunker door and disconnect before you're completely hooked. At least that's what he said.
Beyond the accent, and his believability, Cummings had some interesting things to say. I had some questions similar to yours and some on other topics. I've shared his responses with at least one other poster on this board, but by private email.
Give him a call yourself. You might be surprised at what you learn.
I think the problem is one of perception. Kimber is not a Fortune 500 company. It's a small explorer that won't commit to paying a top-notch webmaster/PR type because it thinks the money is better spent in an attempt to expand the resource. This could be a mistake. Maybe not. Time will tell on that.
An aside: PR types often sell the sizzle, but unless there eventually is steak on the plate, that overpromising can be counterproductive. Kimber's PR can be aggravatingly slow. Perhaps someday we will smile about that as we count profits.
The company is at a veritable standstill now pending a share offering to raise more cash for drilling. During a slack period such as this, Cummings can answer the phone and talk with a shareholder without inflicting great damage to the company. That's my opinion, any way, and one he seems to share.
Seriously, you routinely gain valuable insight and info from press releases? I find them laughable when companies announce poor drilling results under "GOOD NEWS" banners, or when they pitch share offerings (read dilution) as good news, etc.
The good news on this topic is that the voting booth is open five days a week. If owning Kimber keeps you awake at night in your bunker, sell and sleep soundly. If you think management is inept, again, it probably is best to sell and move on to more fertile ground. Mental health is more precious than gold, or silver.
I'm thinking the stock is worth holding although -- horrors -- I also think it's worth knocking off a trade for part of the position if it sprints into the 1.50 neighborhood in the near term.
Thanks for reminding me why I don't spend much time posting here these days, although today was fun. Now I'm entering my bunker and signing off.
Good Luck!
Goldcarp