The $3.04 price was a bit misleading as it was due to the GDXJ lottery where some win and some lose. The short positions were also intertwined with the GDXJ.
Chart has been topping out for a while and generally weaker than peer companies. That and the expected lower production this quarter were warning signs for me to protect profits. I expect a few others are cautious as well. Free cash flow going forward will be a bit less due to capex works and that probably is a factor too.
I dont hold it against Vassie selling as he has done a fantastic job turning the company around. Sure he was helped by the gold price but the operational and risk management (hedging etc) have been top notch too. I’ve rarely seen an MD selling be followed by good share price performance. Seem to remember Bill Beament at NST selling multi-millions and share price struggled in following months.
The $3.04 price was a bit misleading as it was due to the GDXJ...
-
- There are more pages in this discussion • 1 more message in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
