GREY:HRIVF - Post by User
Comment by
ThyFishon Dec 02, 2009 4:59pm
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Post# 16547269
RE: Now, Cash/Inv.= $182M, Debt = $94M?
RE: Now, Cash/Inv.= $182M, Debt = $94M?I believe the recent write downs and unattractive debt with Royal gives Severstal and our BOD the justification for another low ball offer. On top of that they have diluted the hell out of this and the recent placement is at a 30% discount to current SP.................what an absolute joke!!
Correct me if I'm wrong but without the recent write downs, couldn't we have paid off the same amount of debt without dilution? What would that have done to the SP, sent it through the roof!! Instead their friends have picked up 150 million shares at a suppressed price to make huge returns on.......wouldn't it be funny if the write downs are reversed at the end of the year to post huge profits which would quadruple today's 57 million dollar private placement but hinder even more explosive growth for the rest of us that have been here through it all because of the dilution.........