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This is why I was so pissed about Lake Shore Gold selling out to Tahoe Resources in February*

Here's the TAHO share price chart compared to the Gold/Silver index (XAU), from the weekend of the all share deal to date:

Six months later, the truth is clear. I was a Lake Shore Gold long at the time because it was set to be bought out and because of its obvious price appreciation potential, but Makuch took any old freakin' crappy deal (plus his sale bonus, then decamped to Kirkland Lake) instead of finding a place that would add real value for LSG shareholders. Now look at the same comparative price chart of the mine TAHO tried very hard and failed to buy, Richmont (

Spot anything different? Yeah me too and LSG failed to get that kind of move this year because Makuch was more interested in getting his hands on his multi-million dollar change of control bonus. Tahoe's corporate is such a heap of mediocrity, even while sitting on some of the best silver veins in the world. Makes you wonder about reversions to the mean, Kev.

*Example, this post dated Feb 9th that contains "... TAHO is stealing LSG and Tony Makuch is doing his shareholders no favours by accepting this particular purse of silver (30 pieces)....", but most of the numbery work I did was for subscriber consumption in the IKN Weekly at the time, not on the open blog.