I sold my LRR and my LRM in recent weeks. Linear has a great property, still with lots of potential. However, CEO Wade Dawe and other insiders are active traders of the stock, so much so that it detracts from the integrity of their exploration efforts IMO. When a company trades itself that much, to me, it means they care less about shareholders and long term success and more about riding their own PERSONAL bus.
The last financing was with institutions happy to scalp a fast percentage on the paper trail so a massive sell off as the hold period came to an end. Meanwhile they are on to a pretty significant copper gold porphyry with some oxidized gold near surface, Cerro La Mina. All they really need is major mill feed because Campamento would be a 1.2 mil ozs starter with rapid Capex payback. However, when you have gazillions in the bank, 4 drills turning, a hot developing porphyry and you can only come up with 3 new holes, then start selling shares because you know paper is coming free, then geology or no geology I no longer cared. Time to find better management.
Meanwhile LRM has Cobre Grande and what a fabulous property that is looking like, although it seems the buzz being promoted for LRM right now is their Ontario moly property. Bottom line same management = same self serving style. LRM should be a success but it will be without me. Good business is about win win for all parties and IMO that is not LRR and LRM.
Good luck if you go with them, there could be a lot of money to be made, beware insider selling reports.
Cheers,
Ogi |
