RE:RE:RE:RE:RE:RE:Large secondary offering at 2.53I should add that I wouldn't buy WCP right now. I think it's fully valued. It will trickle up slowly, but there are other names that will do much better at $70+ oil, especially the more oil-weighted. Companies like TVE, for example.
riski wrote: Anegada shares are locked up for another three months minimum and six months for the other half.
The information I have is that the big sellers are the funds at Lex capital and Longbow capital.
I wouldn't read much into the sale. Funds sell positions for a lot of reasons. It seems like a crazy thing to do right now with TVE making so much money, an enviable balance sheet, and arguably trading at the best metrics among Canadian juniors.
If I had to guess, I would bet they are moving on due to ESG pressure. A lot of investment funds are facing those pressures. That's how WCP ended up with the NAL assets 6 months ago at that ridiculously low price which launched a rally in their share price. An amazing deal for WCP at the time and epecially so in hindsight.