Post by
mjh9413 on Dec 26, 2023 1:00am
Some History
Have to correct myself as current div reflects 5 times the prior div to equal the 1 for 5 consolidation.
Also, writing those momentous datelines for the momentous SP decline made me look back at when Cavengas got that $2.50 per share 'investment' or 19% of campany.. It was 2015 when the sp was $4-$5 (pre-consolidation). Ticono is the BoD man for Cavengas, a buddy of Cisneros, the principal of Cavengas. Ticono appears to be into the 2025 Notes for $300K
It looks like Fourthsail made their investment for 21% in Jan this year but no NR on it that I can see (both are close to 7MMsh at last MIC of 03/23 and no recent filings on SEDI). In fact, none for anyone.
Certainly Gamba has little skin in the game for all his years there. except again some of the 2025 Notes. I think, however, the 2025 Notes @ 7.75% can't exist anymore with the 2028 Notes at 5.75% being only reference in Financials and possibly resulting in their liquidation. Still, there they are still, on SEDI
Can' imagine one can get any confidence even though 2 parties have 40% common share interest. The Cavengas boys have been there through 8 years of downwards slides so cannot see how they value their investment with their price at $12.50 post-consolidation. Still, with the divvies on the per-consolidation shares they are about breakeven .
AS to Fourthsail don't know their cost (traded at $10-!2 in Jan 2023 post consolidation sp) so definitely out of the money at this time. The SEDI transaction date was Jan 17 with the sp post consolidation Jan 20th), They have no BoD representative .Be interesting if anything happens with them given
Just wanted to get facts right.about the two big holders.