RE:RE:RE:RE:RE:RE:RE:RE:RE:would be nice to see insiders buyingSMG, thank you for your very kind words. There is so little information and communication for this bunch, so I try to keep interested investors apprised. I genuinely believe this company represents a phenomenal value proposition, and it's why I believe in the story.
David Stein is still with the company, as he manages the OAP fund for Aberdeen. I would ask for him once you get a hold of someone, I've always found David to be forthcoming and accessible. David isn't as involved in the day-to-day as much since he stepped down as CEO, but he may to able to answer some of your questions or point you to the person best suited to answer those questions.
We agree wholeheartedly on the shares issued to RM at $0.14, I believe it was excessively dillutive, especially given the company just received $5 million in cash from LIX in July. While AAB probably wouldn't be able to get away with paying an amount equivalent to NAV, something in the vicinity of $0.30/share would have been obviously more advantageous to current shareholders. I'm not disputing the price of $2 million for the royalty, I believe that is significantly less than they'll be able to sell it for a year from now, it's that they essentially paid 2-3X that amount in value per share to RM if you're taking NAV into account.
I can understand the arguement behind moving shares to a stronger hand, if SMC is any indication, they've held their AAB shares more-or-less since the PP in 2014. I would imagine RM will do the same. However, I would like to cancel out the dillution by completing the NCIB in the public market, as it seems there are still so many shareholders willing to sell anywhere between $0.13-0.20. If I were running the company I would do that tomorrow, as I think that would push us closer to the high teens/low-twenties in terms of share price.
Frankly, I'm going to watch to see how Q2 went, I am anticipating an increase of NAV due to the LIX transaction. Outside of that I think they'll have very positive catalysts in BKI and QMX in the next 6 months, in addition to LIX hopefully delivering a positive feasibility study. I believe their private holding in Desert Lion Energy also looks like a hidden gem, it'll be interesting to see if an IPO happens this fiscal year, as I believe it would result in a marked gain for shareholders.
From where I sit, the story is just too good and the company is very well-positioned, probably better than anytime I can recall since 2011/2012. Obviously, if the facts change, or the company doesn't take steps to rectify the share price over the next 6-12 months, I may very well change my mind. You and ceetong, who has quality posts on this forum as well, have argued successfully that at some point, a shareholder should say, "I don't just want to hold an extremely undervalued stock, I need to make a profit as well." You guys are on the money, and I'm optimistic we'll see positive moves in the SP in the coming months.