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Today's reminder of how badly run Coeur (CDE) is

It goes like this:

1) Coeur (CDE) spends $8m earning into 51% of the Joaquin project in Argentina.
2) It then pays U$60m to the optionee, Mirasol (MRZ.v, which is a well run company by the way), for the other 49% that it doesn't own. Half cash half shares.
3) Four years later, it sells Joaquin for U$25m (cash and shares) to Pan American Silver ( (PAAS)
4) The above doesn't take into account the money CDE has wasted on Joquin in the meantime in exploration costs and land carrying costs.
5) IKN half-expects CDE to carry the 2% NSR it's left holding on the property at U$35m and pretend it hasn't lost money.

How the market thinks CDE is worth over $2Bn in market cap is beyond my ken.