Re: Call me Stupid
in response to
by
posted on
Mar 14, 2012 06:49PM
A few comments for the Board:
1) Firstly LTGoldBull2, I don't think you are stupid, since I bought an additional 65,000 shares today at $1.25. I was very long and getting longer.
2) Here is my read on the situation-we are in a perfect storm: (a) some flow through shares supposedley became freely tradeable at about the same time as the news release, allowing those shareholders who really only wanted the tax credit, to sell into any buying that came from this VERY POSITIVE news release, (b) the gold price has come off a bit, (c) investors seem to be selling (i) low grade deposits and (ii) exploration companies-we are both, (d) the fall in share price increased both margin calls and technical selling. NONE of these reasons really speak to the fundamental prospect of Probe-that is why I bought more.
3) The good news is that since none of the decline is due to fundamentals, the stock price should turn. When the stock price turns, there is no resistance between $1.22 and $1.71 and little resistance until we hit $2.05 ( http://www.stockta.com/cgi-bin/analysis.pl?symb=PRB.C&cobrand=&mode=stock ).
4) I am tired of people blaming management. Management has discovered gold at Borden, increased the reserves tremendously in a short period of time, raised a lot of money so we don't have to worry about diliution, and has plans to bring this discovery into production as soon as possible. When you look at my point #2 above, none of it is management's fault. From an IR side both Dave and Karen have done the following: spent a lot of time doing road shows/presentations, gettting many analysts to write reports on PRB (unlike a lot of juniors)-so you can't blame them for the stock decline. I know we are all looking for scapegoats but don't blame management.
5) Here is what I am excited for in the next 6 months- a new NI 43-101, PEA, many additional holes drilled and reported on in the discovery zone. That is all I expect. If we get any news on the fold nose or a new discovery zone, the Goldex royalty, LSG JV or chrome, I would be ecstatic.