Bargin Bin It is my best guess that the GW boys were our bargain basement shoppers. They bought a lot of shares late in the game so have less skin in the game then a dozen of us added together with costs above a $1. Yes I have averaged down, but they don't own a lot more shares then the BB, maybe less.
Did they offer us a cheap loan? No
Did they offer to backstop a rights offering? No
Graeme's last deal bought us enough time to get the VMC GMP and turned into a plant. the VMC is a priority because it turns $6M of scrap stainless into at least the $60M book value. Now if Graeme pulls the rabbit of a deal for econiche or a V contract, we don't need to sell AH.
Maybe it is time to pull a Kraft and split BNC into AH and the VMC in Belleville and Urocidin in Montreal then sell a % of both for cash.
It would be nice to Know where the GW boys see the value.
But at the moment I view them more the sharks circling the life raft then a fellow raftee.
So I am pro Graeme waiting for a rabbit, while trying not to get bit by a shark.
Remember together we are a school of fish, alone lunch.
HT