You Can't Cure Stupid (Part 2)
Gammon Gold fell 9% today and only has 91% left to go. Why anyone still owns shares in the worst gold miner (as opposed to gold share promotions at NG and SA) in the world is beyond me. This stock is going to 0. Today's awful announcement follows strong insider selling, decreasing mine grades, and continuing failures at being profitable. Insiders started just in time, it appears. I quote from IKN who in turn is quoting Brian Christie on todays dreadful news.
"Gammon announces indefinite shutdown of El Cubo operations -- Brian Christie (phone number here) , brian.christie @ (email address here)
This morning, Gammon announced that it has indefinitely suspended operations at its El Cubo mine due to the continued labour disruptions and what it calls "untenable financial demands" made by the union workforce. As a result, 397 union workers have been terminated and charges are being filed against union executives..."