Tahoe Resources (THO.to) bought Rio Alto Mining in February 2015. They paid U$1.09Bn for the company, in shares of THO. Today those shares are worth U$212m.
Since that time (see chart) THO has overpaid for Lake Shore Gold in Canada, ruined a profitable mining company in Peru and dragged its reputation into the dirt, lost all reputation (and production) in Guatemala.
He can change all the management roster as much as he wants, CEOs that come and go etc, but ultimately only one man is responsible for this destruction of wealth. That’s Kevin McArthur, who also happens to be the man who was selling his own shares in the company when it was a $20 stock.
