Sold a 85-90 cent cashflow for $1.85 a share.Makes no sense to sell shares in your company for 2 times cashflow. Management is unbelievabley bad.
Are silver wheaten shares trading for 2 times cashflow at todays price of silver? Over course not. Probabley more like 10-15. I'm too lazy to check.
-Mangement should sure the hell be protecting the downside with puts, and or costless collars. TKO just did something like 1.87-2.20.
-Unfortunately the next shoe to drop will be an dillutive aquisition at this time. Remember, they must find somthing with a 50% ROI to make up for the stock they sold in the PP and any additional stock that is issued in an aquistion. That is if such an aquisition is to make any kind of sense.
-Remember it is not just the 13% dillution, it is the fact that the PP prevented the share price from moving up to the 2.40-2.50 range, by the selling that took place by those who were aware of the PP.
-Management is clearly a nightmare.
-I dare anyone to stick up for management.