Loading ...Caledonia has the same coo as Great Basin had. He never owned a share of stock in any company he is involved. He used PVC pipe in the mine in South Africa it broke and flooded the mine. They spent almost a billion dollars and got nothing for it. He has done OK with Caledonia but the main guy on the ground is from Zimbabwe and has been in charge of the mine for many years. I own some stock but do not like the sound of expanding with dilution to existing shareholders with the current COO. Why would you invest with anyone who at the first opportunity sells his options, dilutes equity and shows no confidence in what he is doing? It scares the shit out of me.
Buying the government interest of 16% would make sense giving controlling interest to Caledonia while funding the current expansion out of existing cash flow. Every $100 increase in the price of gold brings 50 cents per share to the bottom line.
Ipso
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