RE: We're in a sweet spot Ok, update on NDX:
- the private placement was done but contingent upon Romney winning the election, when Romney did not win the guys taking the placement down retracted and now they are marketing the deal again, no word on how much additional capital they are looking for
- Roling believes that NDX is "foolishly undervalued"
- Roling believes that NDX has high quality assets and in the current pricing environment will be able to operate and function profitably
Besides the fact that the deal hasn't closed, which clearly isn't great for NDX, everything else sounds like pretty good news. Roling is a veteran in the coal industry so it's nice to hear he thinks a company we own a significant equity position in is trading substantially below its fair value, and that the delay in the closing of the financing was tied to the election. Hopefully we get some clarity on our largest investment to date in the coming weeks.
Alright, 2 rating on my last post... my opinion does not count for much... I'll try to be more interesting in the future.