I do not get in the habit of trying to respond to every post up on SI. That could get to be a full time job. This particular post was brought to my attention.
We are talking about a company with a CEO who has extensive experience running mining companies.
( Mehrten's professional experience in the mining industry commenced in South Africa in 1957 as a geologist with Anglo American Corporation and later with the Rio Tinto group in the UK, Canada, and the U.S.A. During this 21 year period, Mehrtens gained mining, exploration and management experience with the two largest multinational mining corporations. This experience included 3 years on a deep Witswatersrand gold mine in the Orange Free State of South Africa and exploration experience in Zambia, Norway, UK, Ireland, Canada, and the U.S.A. This phase of his career ended in April 1979 in Denver where he had served 5 years as head of U.S. exploration for Rio Algom (a division of RTZ).)
Career Highlights
Exploration Geologist, Chartered Exploration Ltd., a subsidiary of the Anglo American Corp, in Lusaka, Zambia (1957-1960)
Mine Geologist, President Steyn Gold Mine, Welkom, Orange Free State, a subsidiary of Anglo American Corp. (1961-1963)
Ph.D. In Applied Geochemistry, Royal School of Mines, London, UK, (1963-1966)
Senior Geologist, RTZ, London; based in UK (1966-1969)
Chief Geologist, Rio Algom Mines, Toronto, Ontario (1969-1973)
Head of Exploration, Rio Algom Corp., affiliate of RTZ, based in Denver, Colorado (1974-1979)
Lets look at some of these other companies because to most of you they are just symbols:
ROM - RIO ALGOM LTD
Exchange: AMEX comp
Delay: at least 20 minutes
Last Price: 13 13/16
Change: Unchanged (0.00%)
High: --
Low: --
Open: Not Available
Previous Close: 13 13/16 on 7/21
Volume: 0
30-Day Avg. Volume: 1,000
Shares Outstanding: 60,579,000
52-Week High: 25.43
52-Week Low: 13 1/4
Beta: 0.82
Yield: 3.30%
P/E Ratio: 12.91
EPS: 1.07
Currency Units: US Dollars
S&P Comstock
RTP - RIO TINTO PLC
Exchange: NYSE comp
Delay: at least 20 minutes
Last Price: 48 1/2 at 15:49 EDT
Change: Down 1/2 (-1.02%)
High: 48 5/8 at 9:42 EDT
Low: 48 1/8 at 12:38 EDT
Open: 48 5/8
Previous Close: 49 on 7/21
Volume: 10,700
30-Day Avg. Volume: 28,000
Shares Outstanding: 1,071,973,000
52-Week High: 68.87
52-Week Low: 44.62
Beta: 0.56
Yield: 4.10%
P/E Ratio: 13.94
EPS: 3.48
Currency Units: US Dollars
S&P Comstock
ANGLY - ANGLO AMERN CORP SOUTH AFRICA
Exchange: NASDAQ
Delay: at least 15 minutes
Last Price: 36 3/4 at 15:35 EDT
Change: Up 1 (+2.80%)
High: 36 7/8 at 12:29 EDT
Low: 36 at 9:30 EDT
Open: 36
Previous Close: 35 3/4 on 7/21
Volume: 20,000
30-Day Avg. Volume: 23,000
Shares Outstanding: 233,985,000
52-Week High: 59
52-Week Low: 32
Beta: 0.27
Yield: 3.80%
P/E Ratio: 5.26
EPS: 6.99
Currency Units: US Dollars
S&P Comstock
I include all of this because when you make reference to "Insiders selling". This is a key person we are talking about.
I take exception to these remarks. I have had dinner with this gentleman, and he is very well respected in Mining circles.
Further, I have physically seen the stock certificates for the 42 million shares of insider stock. I know where it is.
The float in this stock is in the neighborhood of 5 million shares.
I cannot nor can the company be responsible for the trading of those shares.
If you are trying to day trade this stock, or cannot afford the fluctuations in the trading activity, you have NO business owning it, and I suggest you sell it...
This is a long term investment, not a trade. If you want to trade I know a number of commodity brokers who would be happy to show you the ropes. |
