Golden Minerals - what sort of nugget is it?
Golden Minerals is not currently rateable on CAPS - I stumbled across it on one of the blogs on the MF discussion boards. The stock was plodding along in the $5-7 range until about a month ago when it suddenly took off. Now trading at $25 there is at least one analyst who gave it a target price of $100/share! They later reduced the target to about $85, which is still substantially higher than it is trading today.
They just closed a dilutive offering at $18.50 and concurrent with the public offering, the Company closed a private placement with its largest stockholder, The Sentient Group, of an additional 1,190,031 shares of common stock at the public offering price of US$18.50 per share.
So can anyone tell me whether this really is a gold mine waiting to be discovered, or some sort of wild pump and dump scam? Sinch? Bueller? Anyone?