RE: A $.50 buy-out would look good now...Buy-out? Coming to you sooner than some may think, I'd say. It's just that I doubt you'll get those 0.50 $ ...
During the last few days, PAT share price has collapsed from $ 0.415 to a low of 0.30. That is an almost 30 percent loss, 4 mio $ gone in market cap. All of this on a measley 67.000 shares traded, bought for less than 25.000 $ ! What's up here is screaming obvious - somebody is either testing the waters, seeing if pushing this down further finds any resistance. Or, since there is no resistance (nobody left willing to put more investment money into this outfit), somebody is in the final stage of getting ready to make the buy-out offer.
Actually I already expected the offer to come a few month ago, when RIC's share price was blatantly manipulated upwards on almost no volume over the course of several weeks, something that never found any mention on this board. But they stopped that manipulation. Suspect they just felt that they would get PAT anyway at a later point in time and decided to suck more money (debt repayment) out of Patricia in the meantime.
Remember when one of the PAT HQ-based, management licker characters that used to spam this board for so long said that UMJ was buying to "support" PAT SP? Well where is UMJ's buying now? Not here, and that's because this is likely a long-time orchestrated effort between PAT management and RIC. Ain't no bidding war between RIC and UMJ happening! I believe it's all pre-arranged. They'll take out the small guys for chump change and then there are all kinds of ways for RIC to nicely re-imburse RS and his posse in exchange for their shares. Whatever happened to the PAT shareholder rights plan that somehow never got introduced?
Plan is likely to present some really ugly Q numbers next week, that way killing the last remains of small shareholder enthusiasm. Then I'll expect the take-out offer to be tabled at latest within the next two or three month (but before following Q numbers). They'll of course base the offer around the current SP. But, because as you know this is all fair and PAT has great management and RIC are nice people, they will add a f****n "premium". Say 25 percent and you'll end up with like 0.37$. If SP goes even lower after bad Q numbers you might have only 0.32 after "premium". Or, should gold decide to fall back to 850 USD, current PAT SP plus "premium" might be no more than 0.27 or so. Ain't no 0.50 in sight, Sucyn.
So how does that sound?? Y'all gonna tender?
And one more thing, don't forget that RIC have a lot of cash. But as everybody can read in Richmond's NR's it's unfortunately all committed already to other projects. So when you receive that 0.27 takeout bid, I'm sorry but there is no cash for you. Instead, you can have yummy RIC paper.
Certainly RIC's chance of the majority of shareholers forgetting about any fundamentals here and just selling at whatever price in total disgust with this company and management are higher than ever before.
Just to continue with my little prediction, very soon after the takeout you will - surprise, suprise - see RIC present some strongly-improved numbers for IG. Because after the take-out I'm sure the mine will be starting to be cash flow positive pretty soon. What a difference a change in ownership can make.
So when you ultimately end up with all these RIC shares in your portfolio, you may actually have a part of a profitable gold company. It's just that you will probably have to wait another 6 or 8 years. Because that is how long it will take RIC to get their different development projects making money. Nothing to worry for them - because in the meantime they will have 100 percent IG to pay the bills.
Sure has gotten really quiet from Thunderhead and the PAT HQ licker. No words of support any more for PAT at 0.30? Missing those IESO comments! At least the Tannin character continues to hang in here. Wonder if he'll continue to sing the praises of "our boys" being "strict professionals" once he has seen the take-out offer .