| | | But SC is done, as far as CUU is concerned. It is now Teck operating and making decisions. CUU found something else to do.
Faced with the terrible deal with Teck, the SC value was completely undermined. They added to that insult by buying into something completely different (Monty Python would be proud). Then, as if that was not enough, they invested in a penny company drilling in the middle of nowhere, in a project that would be last on the list to mine, even if they manage to find enough metal to cobble a resource together. All of these investments will need more money to see through, and unlike my explorer adventure this past summer, CUU is stuck with them.
I think the board made a fatal error when the Teck deal was made. They retained an CEO who is an explorer. They needed to get a CEO that was an accountant and deal maker. Lock down spending, focus on surviving so the asset could be monetized.
Regardless, the damage is done. People have sold off, and now it is a new game. That is why AG is so pointless right now. They still think it is 2011. I can assure you it is almost 2015 and the game has changed.
I know it is not a consolation to "longs", and I don't mean to rub salt into a wound, but this is a new company now. |
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