RE:RE:RE:RE:RE:RE:To buy into LargoYou must have been on holidays when they increased their stake above 20%, there was and has been plenty of dischord here about many things from all the way back in the Vinci days when I signed up. I don't think this board is a bunch of sheep. What I do think that your opinion on Maracas is correct, but unlike you I'm not too concerned about the share price. I'd love it to be $1 or 2 but I don't think it particularly matters where it is from day to day leading up to production. I certainly don't want management spending money advertising when things are a little tight with CN still mothballed and money pouring into mine construction.
Soon, we will be producing. If after then the price doesn't move, Largo can use the money coming in to buyback shares on the cheap. Shareholders can pick up more at a discount. Etc.
As to why the share price is so low now, that is an interesting question. I do imagine that I'm not the only one concerned that so many shares are held by a handful of people that could conceivably steamroll small shareholders and have had discussions with Marc on this. On the one hand, we wouldn't be where we are without them, on the other, they've already shown their willingness to give themselves preferential treatment outside the market by repricing their previously purchased options. I'm sure there are various scenarios here that concern people.
But Stack is right, we haven't dropped relative to other juniors, and you are right, we are in a better position than most juniors (hence the not dropping) since we have financing. But there is more to the junior drop than simply financing. Other concerns include slowdowns in the BRIC countries and resource demand in general. Growing debt levels worldwide leading to an economic meltdown (and nobody working on infrastrucutre). Etc. Etc.
All that said, we do have an offtake agreement with Glencore for 6 years, so even if there is nobody else buying, we should still be able to be profitable. So maybe there needs to be more analysis into why the share price is low. I do agree that we have been blaming it on the market in general, but I can't think of anything else that would keep it that low aside from the big few shareholders (which also has advantages, it must be said) and the very large number of shares outstanding.