Wolfspeed Bankrupt 8 Months After Biden Gave $750M Grant
Wolfspeed (WOLF) has just filed for bankruptcy after Biden gave the company a free handout grant of $750 million in October 2024 to build a Silicon Carbide (SiC) Power Module production plant in North Carolina. At the time, WOLF shares doubled in a single week.
NIA said on October 18th (click here to read NIA's alert), "We would also be better off if the U.S. Chips Act didn’t exist to subsidize companies like Wolfspeed (WOLF). People have been suckered into buying Wolfspeed (WOLF) due to government handouts that will only get WOLF so far before it is broke/bankrupt."
NIA accurately predicted WOLF would go bankrupt, but even NIA is surprised by how quickly WOLF collapsed with Biden no longer in office to subsidize them. They lasted only eight months!
President Trump doesn't provide free handouts to companies that are months away from going bankrupt. Trump is giving Augusta Gold (TSX: G) an EXIM loan of US$50 million to construct the Reward Gold Mine an open pit oxide gold mine in Nevada with proven & probable reserves grading 0.86 g/t!
Open pit oxide gold mines in Nevada are the most profitable in the world. AngloGold Ashanti (AU) is looking to develop North Bullfrog a short distance away from Augusta Gold (TSX: G)'s Reward. Despite North Bullfrog's low gold grades of only 0.43 g/t it is expected to be extremely profitable.
Augusta Gold (TSX: G) with gold grades twice as high as AngloGold Ashanti (AU) will literally PRINT MONEY, and Trump by providing 10-year repayment terms including an interest only period means Augusta will be able to reinvest a large portion of its cash flow into constructing their adjacent Bullfrog Gold Mine!
Between Reward and Bullfrog, Augusta's future production will reach 150,000 oz of gold annually and the company will generate annual revenue of $500 MILLION!
Past performance is not an indicator of future returns. NIA is not an investment advisor and does not provide investment advice. Always do your own research and make your own investment decisions. NIA’s President has purchased 232,200 shares of G and may purchase more shares. This message is meant for informational and educational purposes only and does not provide investment advice.
