RE: Teck is a good example of why Lundin is a goodHBM management is violating those very same rules - big time.
We are buying Lundin with our very own deflated shares.
When this so-called 'deal' was hatched, HBM was trading for 5.40. The share price value assigned to Lundin
of 1.40, reduced us to 4.25 on the spot.
If this merger would have taken place in May of June 2008, the numbers would have been as follows:
May 1 - LUN 6.70 - HBM 19.00 - at the close to .4 ratio valuing HBM at 16.75
June 1 - LUN 8.00 - HBM 17.50 - " HBM at 20.00
So, where is this big advantage? HBM is diluting their shares by 100 % at a time, when the world has been
forever changed, Lundin is in great need of cash, we are reducing ours.
We are paying far too much with our valuable shares, backed by cash, for greatly diminished assets.
Sure, times will be better one day - but for today HBM is still buying Lundin at peak prices.
The ice cream is melting fast.
GL PacTide