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12/14/18

Detour Gold (DGC.to): Much ado about nothing

A price chart:




Way back when John Paulson sent and published his first activist letter to Detour Gold asking the company to put itself up for sale, the stock price rallied in expectation. But look where we are today, a Paulson-nominated board is not in control, supposedly that would mean DGC willbe up for sale to the highest bidder and....nobody cares.

The problem with shit assets is that they stay shit assets, no matter who you have mining them. Anyway, let's hope they find a few ways to cut down of G&A (though something tells me that we should have our hopes up too high, even on that).