stack stack,
"I really like the fact that Largo is past the financing raising period."
I don't like being a wet blanket but WHY is everybody thinking we're beyond worrying about the financing? We aren't... and I am beginning to have grave doubts about BNDES and Largo's abilities to do anything right. What possible excuse are they using now? My guess? The "powers that be" are figuring ways and means to get BNDES a piece of the pie OR this is a prelude to Glencore/Xstrata coming to our "rescue" as a white knight. How many times have I seen that played out.
It goes something like this... most of you know the drill
Over a protracted period of time [several months] management fails to perform and gets into financial difficulties as the share price goes down and down and down. [we are and the share price is] When everyone is sick to death suddenly on yon horizon appears that White Knight with a buyout offer.
Keep in mind the share price has been crushed into the dirt - which it has. And lo, magically, a fabulous 35% offer over "current price" which will be half of what it was before they drove it into the dirt. But wait - it gets better. We will find the "deal" [the sellout] was engineered behind closed doors and is a FRIENDLY deal. So friendly that the company will have agreed to a HUGE "break fee" should some other company be interested. So WE will be sold down the river in a backdoor deal that's ruled a "Fair" deal by some bank that was paid to rule that way. And we will have been hosed. There is your White Knight coming to our rescue. I was a victim of three including one by Xstrata. Yep, the same Xstrata that Glencore is THE largest shareholder of. Is that what's going on? I am surmizing that we are the fatted calf being led to slaughter by Brennan and BNDES. Just my guess but what other possible explanation?