RE:RE:Not over yethawk35 wrote: Actually it was over months ago. Price of oil and share dilution (20% more shares) sield our fate.. Truth be told, the 15 month Stella delay killed the golden goose.
You're absolutely correct Hawk. If Stella had not been delayed in 2014 when the price of oil was over $100.00 this company would have sold north of $3.00. With oil sub-$60 IAE had no choice but to sell, either that or they would have had to renegotiate their debt and the banks would have demanded that they issue more shares to offset their risk. At $55.00 Brent IAE was simply not economic without massive dilution. This is what those who want to hold on to IAE shares simply do not understand. Dilution is not an issue with Delek because they have the resources to wait the low oil price out and expand the Stella hub. Those who are talking about holding onto their shares are the same ones who were sure that there would be a competing bid from a third party that would force a higher price. Never happened because there are simply no other companies out there that see this company valued above $1.95 under the current oil price conditions. I pity those who will be holding this stock if Delek doesn't get their 90% because those shareholders will never see $1.95 again which might be a blessing for them because they will learn a vauable lesson of investing - NEVER FALL IN LOVE WITH A STOCK.