today they announced the sale of an asset for $12 million that...

today they announced the sale of an asset for $12 million that has had ~$50 million spent on it, crystallizing a $38 million loss. The board has presided over significant value destruction. The board and management should demonstrate results from their recent acquisitions before they throw more paper around buying things. On balance I think the deal is an ok result, but this company is now a pure Cu/Au explorer. A company of this narrow needs to demonstrate that it can get good exploration results and communicate it’s plans and results to the market to generate shareholder returns.