Regarding Buyout Offer With everything being so quiet lately,no updates ect,the timing of this post about an offer is actually very interesting.It's not as if there hasn't been rumblings about a possible sale over the last few months.The chinese are aggresively looking at boosting there position in the oil sands and have the money to do it.With the above average volume today, most posters were seeing it as bad news down the pipeline,but it could have been a leak , bringing in new investors yet scaring the weak hands into selling as sp started dropping.The .43 cent possible offer is exactly where it should be in relation to total assets.Total assets minus current liability is about 70 million.
It;s completely realistic to say that our current team will never get this project into production.With the current SP raising the kind of capital needed for this project will never happen and with the economy the way it is institutions are skeptical at best.The chinese bring full pockets and a hungry appetite for production.
Most of you out there, hopefully were always under the assumption that the only way we were ever gonna profit was from a buyout.Our management team are way out of there league, oil sand production is for the big players,just look at the past with juniors.