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CONA RESOURCES LTD T.CONA

"Cona Resources Ltd is a Canadian company which is engaged in the exploration for and the acquisition, development, and production of petroleum and natural gas reserves in western Canada. The company owns an interest in Cactus Lake property, Winter property, Court property, Cuthbert property, Mantario property, Thermal properties and others."


TSX:CONA - Post by User

Comment by pierrelebelon Mar 12, 2018 9:50am
132 Views
Post# 27699830

RE:New to Stock - thinking they will get revised offer

RE:New to Stock - thinking they will get revised offer
schocor - "...Any thoughts on who might be interested"

Unfortunately nobody.

Why?  Majority shareholder cotrols the stock and paid about $3.60 last year to acquire that position.  They wll not sell.  Period.  So nobody with money will waste their time and effort looking at it seriously.

On the other hand, there exists a possibility that the bid will be increased from $2.55 IF (that is a big IF) a fairness opinion suggests that $2.55 is too low.

Buying at $2.45 to sell at $2.55 is a good arbitrage situation with limited risks - 4% gain over a month or two.
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