12th hour - additional information - my opinion One aspect of this 50 ; 1 which has been neglected in this "Buzz" is what influence, if any, does the TSX.V play in the establishing the SP. Many will say "Zero" or no influence. Think again...They do have their influences. Although they are the "Puppets" the "Strings" are pulled/controlled by the "Big Money" boys (ie, Financial Institutions, Brokerages House, and Large Corporations, etc.). They control (manipulate) the SP's any way they want to - with the blessing of the TSX.V. Seldom does the control of the SP get out of control of the "Big Money" boys, and then only for a short period of time.
We all know that many companies have made similar decisions to reduce (call it what you want - publicly) the number of o/s shares to position themselves for: 1: To look more attractive for a takeover. 2. To increase the SP so that they could attract the next level of investors (Institutional Buyers). At least these are the Publicly given reasons. And, the shareholders usually fall right in line with Management Suggestions.
Now, do you think for one micro second that Cliffs - or any other Big Money Boys - care if the price of a share (or an envelope with 50 shares inside it) cannot or will not continued to be manipulated? Gents and Gals, this is how the TSX.V operates. Basically for the good of their friends. Not in the interest of the average small investor
Well, we all also know that the TSX.V doesn't give a Rat's Behind about any individual business. They get their "expenses" covered pretty well! I don't believe they are loosing money for the services rendered.
So, what will happen with our non R/S 50 : 1? The Managers already know. The TSX.V and the Rats Behind have a lot in common here. The "players" are well in place and in control. Everyone knows this by now too!.
In my mind, just like many other "plays" on the TSX.V, the deal has been already been set up. Hopefully a few crumbs will fall off the table for the K-9's...To bad that the Market Place is not in position to set the SP.
westernkid