RE: Overreacting?I assume you're referring to my post since I'm the only only that mentioned $1.75. In that same post I mentioned a lot of other numbers as well so I'll put those numbers in context for you.
$1.75 was mentioned for illustration purposes only - what I was doing was showing how much money I thought management could make assuming they had 22m shares @ 50 cents - I never indicated they would actually sell at that price and I don't for a moment think that will be the final price.
$8 was mentioned as the price that all of us would be happy with making all this discssion mute.
$4-$6 was mentioned as my personal sale price expectation which has been noted for a long time in my posts.
$3 was noted as my NEW expectation based on the recent finacing
$4 was mentioned at the end of the post as the " Crazy Point "
Those were the only numbers I mentioned - now I'll provide a little explaination of each.
$1.75 - again this is just a starting point for math - I could have used a different number but this is where I think they all make enough money to materially change their lives
$8 - Although we all have greed at this point I think we would all be happy.
$4-$6 - I've always had a different opinion where I thought the deal would finalize because I didn't think ( and I posted to support this position ) that the management team didn't have the TALENT to deliver a better deal. I never questioned the effort, honor, sincerity or honestly of the group, just the TALENT. This was evident in the poor quality of the announcements and supported by managements attempts to hire additional geologists ( I know that point will be challenged ). Anyway that was my forcast.
$3 - I think this financing hurt the eventual price because management will be somewhat less motivated to obtain the best possible price for the shareholders now that they have taken care of themselves.
$4 - This is the " crazy point ". We all know that there are crazy people out there - you only have to look to the Santa killings in the states which was over a really big emerald. It only makes sense that the more investors you have the more likely one will be crazy and do something tragic and we have to know that taking money from your backers is viewed differently in other countries. I think $4 is the crazy point where these people stay home - I'm not one of the crazies but I do think there is a point where people stay calm and where they go postal.
Like I said for me I just want it to end and hope to make a little - I used to trust the management team even though I thought they were over their heads but with this latest move I wouldn't invest in a company they were associated with ( personal preference ). I expect the SP to stabilize in this zone ( maybe rise a little ) an offer as soon as a couple of government approvals are rubber stamped ( couple of weeks ) and then the clock is on. I expect the initial offer to be close to $4 and the final deal about $4.50. Those are all just hunches; it will be interesting to see whose hunches are correct at the end of the day. Anyway I don't think I'm over reacting but I still think the securities board should be investigating the manner in which the share price decreased and I'll probably look into what is involved in initiating something like that.
As always, have a good day.