Dundee Corp T.DC.P.B

A couple of points to consider on the SIB.

[valueinvestor89]

A couple of points to consider on the SIB. 

1) The prefs are at $25 in the balance sheet so if they fill the SIB they would record a $4-5m gain or 5-6 cents a share equity increase…When you trade at $1 per share and have a "nav" at $2.7 that is not a nothing

2) Prefs are expensive and this would save $2.3m a year, on a $20m investment is a guaranteed 11% return. Not to mention pref interest isn't tax deductable, but in theory we shouldn't be paying taxes anyways.

3) You don't pay down prefs when you feel things are going sideways this is a good indication that management feels ok about it's position. But they need to hurry with asset sales or you are just replacing no maturity debt for real debt which would be dumb. 

4) The prefs are actually a great investment to diversify as well. i own both. 

Hopefully some good news on TaurX soon

[Macpoor]

Good call Valueinvestor89! Thank you!

[Catscratch]

Thanks.  Insightful post.  I can't see management and board doing this pref buyback/recap without having high confidence in an asset monetization event in the near future.

[Macpoor]

What would be the  non core assets? TauRX? Android Industeris?  On Dundee's website , I do not see anymore non core assets. 

[Catscratch]

Everything other than mining... bigger legacy investments are: Android, Dundee 360, Agri-Marine, TauRx (I think they'll hold this until a regulatory announcement) and there is a little bit of Blue Goose is still left. Don't hear much about UHIC/Delonex or Parq anymore so I don't think any value will be realized from those investments.

[Macpoor]

Hi Catscratch, thank you for your post! I attended Annual meeting this summer. As I was talking to one of the board members , he told me that Agrimarine is gone. ( Maybe they give away  those fish to food bank or something) I asked Jonathan regarding UHIC . He said nobody want to invest in that region becuase too risky. He also mentioned that maybe in future to sell  few bucks that

[TheCount11]

"The prefs are at $25 in the balance sheet so if they fill the SIB they would record a $4-5m gain or 5-6 cents a share equity increase…When you trade at $1 per share and have a "nav" at $2.7 that is not a nothing." Seems MUCH MUCH more like an argument to buyback the common shares. Dundee's super power was having REALLY cheap funding with BoC plus 4.1% for Jr Mining