RE: RE: RE: 6 month clause Hey Monkey,
first of all, thank you for some intelligent and insightful comments. The board has lack this somewhat.
I believe the was or could have been an offer for 3.50, but certainly I have no sources to indicate this, nor have ever implied I do. No one does, which is really the problem. I own shares in this company and yet have not been told what the potential offers were presented.
But my train of thought is there were/are too many positive facets to the company for there not to be a serious bidder at least at 3.50, ......doubling production (acheived), signficant cash, tax loses, recent favourable tax changes for small fields, great potential in Stella/Hurricane, and no distress to sell (which management has proven), and a NAV of 3.60 or more depending on which analysis you read. Given all the positives I just think any offer would match or exceed the NAV. Thats all, that my rationale. As well some analysts have also indicate 3.50 or more would be the offer.
I like your inferences with Sprott and Nutall, who knows........but even at 3.15, this would be about $1 more than the sp was before any unsolicted offers came forward. Given the current market conditions this is quite favourable to shareholders and certainly in their best interest in the short and medium term, thus should be brought forward to shareholders.
I do think the sp will get back to 3.15 or more, but why wait 12-18 months when we can likely unlock this value now for shareholders. The BoD seems to indicate they believe they can far exceed the offers, I have less confidence. I think over time the sp can match the offers, so why not pull the trigger now and reward shareholders.