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Win us with honest trifles

IMPACT Silver (IPT.v) and a reminder of the mind-numbing mediocrity of the silver sector

Picture the scene: You watch silver bounce around U$16/oz and U$18/oz for years, waiting for it to re-rate to a level that would see silver producers rake in the cash. Then when it happens…

…your silver producer returns numbers like this:

IMPACT Silver (IPT.v) filed its 4q21 and annuals this evening and answers those burning questions posed by many metalheads: Why does the broad market ignore the sector? Why does the rest of the business world disrespect mining companies? Why can’t the sector attract long-term investment? Well, let’s start with the way IPT just returned a net loss of half a million dollars on the quarter, then follow up with…

…a balance sheet that is essentially unchanged over the year. In all seriousness, if an established silver producer cannot make a profit over the 2021 financial year, when is it going to make one? The only people these companies benefit are on six figure salaries and the only thing they produce is paper, for example IPT and its 87.6m shares out at the end of 2018 is now IPT and its 145.4m shares out. As for its shareholders, as the old saying goes, “If they can’t take a joke f___ em.

6 Comments

    A Beaten Down Prospectors Cabin In The Woods The Deep Dark Woods of British Columbia 22/03/22 6:01 pm

    If a producer can’t pay a decent dividend – there’s basically no reason to hold the mining stock long-term …. no dividend = a sh@tty business

    Reply

    Exactly. No dividend, then F em.

    Reply
    A Beaten Down Prospectors Cabin In The Woods The Deep Dark Woods of British Columbia 23/03/22 7:26 am

    Another big scam with little mining companies is; when the the CEO, Pres, or someone on the Board also owns a “Drilling Company” … and they feed their drilling company with all the drilling contracts … pretty easy to rip-off your shareholders if you inflate the drilling contracts by a little bit.

    Reply

    As you have said it before, easy to find the scams, hard to pick the winners (paraphrasing)

    Reply

    Whenever I start thinking that I know what I’m doing, I just remember back when I took a massive beating on this and Energold to realize I’m just another dumbass.

    Reply

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