Hi Peter,
I welcome the new vote of confidence in HPQ (if such was needed, after the previous investments and the JV).
My question is: what is the long term strategy for a return on this significant investment in HPQ?
How exactly do you think that PYR will benefit: just from HPQ share price growth (assuming that PYR will sell its shares either on market, or if HPQ is acquired by a 3rd party), or from a revenue generated by HPQ, that will be distributed to shareholders (dividends)?
As always, thank you in advance, I would greatly appreciate your feedback on this.
Dear Poetech2,
Thank-you for your question.
The truth is that the long-term strategy is open and fluid; either strategy works for us (dividends or sell in market).
For those that question the purchase announced today (it was not made as a vote of confidence BTW; it was made 100% with the idea of making money…it is an investment) I would like to remind them that about two 2 years ago we invested approx. $2MM at 12 cents when the stock was trading at 8 cents (another investment at a 50% premium)…I was questioned back then as well…who is laughing now?
Hope that helps
Peter