Dr. Paper Strikes AgainJust as predicted, and just as anticipated, Dr. Paper does it again. Last year at about this time, SWN (then PAX) had about 90,000,000 shares. After this next PP, SWN will now have about a whopping 155,000,000 shares (including warrants). That's a 72% increase in 1 year. In two years, SWN has gone from about 40,000,000 shares to about 155,000,000 shares. That's a 400% gain in shares in two years. But has shareholder value risen 400% in those two years? No. Share value has benn virtually flat. That's despite all the drilling, all the reports and the significant increase in the price of zinc. Successful company's ALWAYS increase shareholder value. Losers do not. Unfortunately, this company is a loser. That will be Dr. Paper's legacy - a total and complete inability to create a winner despite having among the best circumstances imaginable for a resource company. Here is a perfect example of how a company, despite having incredible prospects, turn into a complete failure.
NG, another company discussed before, only has about 110,000,000 shares outstanding and they will soon be a producing miner. Share holder value there has increased over 500% in 5 years. That's the difference between a winner and a loser. And SWN is a loser. The only real solution is to get new management. Period.