Win us with honest trifles

Trevali (TV.to): Addicted to dilutions (and cash salaries for directors)

The last time we checked in on Trevali (TV.to) it was August we giggled at the constant dilution and predicted it would hose its shareholders once again in the near future. And yup, here we are, another 48.2m shares to throw on the pile (which now looks something like this):
One thing’s for sure, Glencore won’t be queuing up for any more of this papermill joke of a company, but the joke’s on the shareholders rather than the perma-sophist management. As for its now producing mine (after all this time, what with the “going into production in 1q12 crock in times of yore), you think it’s making money with zinc stuck in this price range? Seriously? Gawd, “leveraged to gold” is a bad enough phrase to read about a lossmaking/breakeven junior, but “leveraged to zinc”? Ugh.
And for those of you who’d like to cogitate further on the Cardero Group business model, here’s the price chart 2011 to date…
…and here’s the company market cap tracker (snapshot taken every end quarter):
It must warm the cockles of your heart to think that you paid for that market cap increase, right? But don’t fret over management, as despite all those missed deadlines and constant sucking of the placement crackpipe (no drunken stupors) they’re not going to be too worried about the lack of share price performance, methinks. This from the latest MIC, filed on SEDAR:
Nice work if you can (etc etc)

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