RE: RE: RE: More on Oberndorf Hi Terroir:
In order.
1. Selling of Pinecrest. I sold my 100,000 shares of Pinecrest at roughtly $2.85, simply because it started to tank badly. I lost money on it too, because if I recall correctly, I bought some of these shares at over $3. There was a mountain of hype about Pinecrest back then, and a lot of investors have been burned badly on this stock since then. The same goes for Renegade this year, who I used to hold 70,000 shares of. I believed their story at first, but the more it tanked the more nervous I got. So I got out.
I currently have no shares long of Pinecrest, but I recently shorted 4,000 at $1.70 and covered at $1.59. I have orders in to short more at $1.70 and $1.75.
I currently hold no shares of Renegade. I had recently bought in slightly again at $2.32 on the assumption it had bottomed - but fortunately managed to get out about the same price. Doubt that I will go back to owning that company.
2. Re your bet. It needs to be adjusted a little. I am not going to bet on the movement of a dividend payer like Bonterra, against a potential growth stock like Pinecrest. No, a fairer bet would be Pinecrest against a Trioil, Manitok, or RMP. RMP has already left the station. So I will put your Pinecrest up against Manitok. Fairer bet?
3. You have not answered my question regarding your voting direction for your 100,000 Spartan shares, which you magically claimed to have bought at $4.40. Don't you agree that making money is why we are here? With the ability of Spartan to hold its own if the deal does not go at $4.96, don't you want to vote NO to get a better offer from Bonterra? So are you voting YES or NO with your Spartan shares?
4. Re: Buying more Spartan. Yes, I did buy some more the other day at $4.77 when the TMX stupidly allowed us to trade (but I digress). So am now holding more than 130,000 of Spartan again. But my margin is tapped out with recent purchase of more RMP. Have enough Spartan for now.
L6