DGR have about 4 months cash and in their last quarterly stated they would sell down listed assets rather than raise. You dont think that if they were to sell half their holding to the chinese that it might spur some action from the others?
Rodney - all we can do is either come to our own conclusions or wait, however past experience with SOLG says the absence of good news does not bode well for PIs. As for NM still having enough social capital to rally PIs, I think for a lot of us that trust is well and truly gone.
Morning all! Has anyone watched the Netflix social media reality show - The Circle? It's basically like Big Brother only people spend all day chatting online rather than in person and only after getting kicked out does a person get to meet one other in real life. Last night I had the weirdest dream. I was in The Circle and Quady got kicked out and decided to come visit. There's a knock at the door and who should I find when I open it? None other than Mr Mather himself!
Dear God Quady - don't agree with me! No bid earlier was a good thing but with this news we should be so lucky as to get a bid! You may well end up being the last man standing here, in which case you're welcome to my shovel, please turn off the lights on your way out.
A few months ago the conspiracy theorists thought the previous PFS delay was a stroke of genius from NM to delay a bid while proving up other targets. Obviously they were wrong but if no PFS meant no bid then, why all of a sudden do people now think a bid is more likely? If anything, hasn't the last few months only increased the project risk and made a bid even less likely?
It baffles me as to why some people feel the need to be the expert on every topic but then can't be bothered to fact check things first, but to win one needs either 50% of vote OR 40% of the vote AND a 10 point margin over the nearest rival.
So if you get 46% and the next guy gets 38%, you still have to go to a runoff.
Having known him for more than 10 years myself (albeit we've lost touch the last couple of years), I would be VERY surprised and disappointed if there was any truth to this. I believe a more likely story is that he stood up for something he believed in and was told to either get onboard or leave. If it was a question of ethics I know whose side I would be on.
PFS - more like FFS! Tactics or not, I'm sure I'm not the only one that doesn't appreciate games and being lied to.
At best, this is deceit and broken promises. At worst it's just plain incompetence.
Belief in the long term value of this stock is one thing, but if instead of waiting for that one day when it will suddenly rise 300-500%, NM actually helped to build the price over time, then perhaps we wouldnt be so vulnerable to these "low-ball" offers that everyone seems so afraid of? The only reason to sell out to a low ball offer is if you have no faith that the current management can deliver something better.
Well here we are less than a month later and SOLG is trading 26% lower and DGR is trading 12% lower than the SPP, with DGR shareholders missing the SOLG spike completely with that ill-timed suspension.
With so much skin in the game I can only assume NM is either an idiot or playing the seriously long game, which is unfortunately much longer than most of us expected or desired.
I think we're about to see some interesting evidence as to how much of a genius NM is or isn't. DGR has been in trading halt the last few trading days so their SP has yet to really benefit from the recent jump here. Today a further suspension has been put in place while they nut out the details of a capital raise. Without knowing the details of the cap raise, it does present some interesting questions - particularly in relation to the timing of it since DGR doesn't appear to NEED the money right now (there are alternative to repaying the Tribeca notes). DGR's share price typically follows SOLG, and no-one has a better clue as to which way SOLG is likely to go from here than NM, so why raise now? If raising at a discount, surely that would not be in the interests of existing shareholders if he expects SOLG to rise dramatically in the near term? If raising at a premium then how much of a premium? He can't expect to raise at double the previous close and yet many here would argue that SOLG could indeed double in the near term - so again, why now? Unless he doesn't expect anything to happen here for quite some time, in which case it makes sense to raise now among all this optimism.