Jason Burack: Big Red Flags? AMC Entertainment Buys Large Stake In Junior Gold Miner With History of Bankruptcy

Wall St. For Main St., Released on 3/22/22

Lots of red flags here!

AMC Entertainment buys 22% stake in a Nevada gold mine to diversify away from movie theater business https://finance.yahoo.com/news/amc-en…

Back in November 2021 (despite gold prices still being high) Hycroft Mine lays off half its workforce, ceases operations https://www.nevadaappeal.com/news/202…

This Nevada gold and silver mine already caused the previous miner, Allied Nevada, to go bankrupt back in 2015 from production problems: https://www.akingump.com/en/news-insi…

Around $450 million in bad debt, enormous production problems at the mine, metals prices falling and production products (mine was not on time or on budget) were the main problems.

New Doomberg blog article on the AMC Deal involving Eric Sprott and Hycroft Mining: A Fool & His Gold: https://doomberg.substack.com/p/a-foo…

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Jason Burack is an investor, entrepreneur, financial historian, Austrian School economist, and contrarian. Jason co-founded the startup financial education company Wall St for Main St, LLC, to try to help the people of Main Street by teaching them the knowledge, skills, research methods, and investing expertise of Wall Street. You can also find Jason’s work at his blog website at www.jasonburack.com.

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