RE:RE:RE:RE:RE:RE:RE:RE:Callinan Management Heads Up Please on Hudbay Litigation$1 Understand that I'm not trying to be a smart-ass, here, or call you out. I just wonder if anyone in Lewisport has put this in perspective.
By my count, Wallbridge owns 8% of Duluth's outstanding shares. (They have the right to up that to 9.9%, though, but with 1/2 a mil in the bank... maybe a bake sale?)
Market value of that Duluth stock, right now, at bid, is $8M, but if 10M shares of DM hit the market right now, half that number would be a bargain.
Similarly, the 8,333,333 shares of WM that CAA owns would be a tough thing to sell, but in any case it amounts to 5% of WM.
If you're keeping score at home, CAA owns 5% of an illiquid stock (WM) whose most valuable paper asset is 8% of another illiquid stock (DM). I was going to calculate what all that was worth, but it doesn't seem like there's much point. It's a daisychain of paper representing equity in companies who can't afford to develop their assets.
The only growth prospect they really have is that lawsuit. I recieved a nice New Years letter from Roland this AM which failed to mention the lawsuit entirely.