RE: Simmer Loan
Metcoalfan - apparently you read the principal as somehow inlcuded under 2.09
I do not.
Hope I'm wrong (again, I doubt it though).
Regardless, in the latest statements, Aberdeen was carrying the value of the Simmer asset at $32.6 million Canadian.
I don't know how much Simmers has already paid to Aberdeen, but it is certainly several $$million$$....
So, even WITHOUT the principal being returned, Aberdeen's $10M U.S. investment has increased to a value of $20M+
You think the South African courts are going to be sympathetic to Aberdeen coming in there with there hands out??
Bharti and his Forbes Manhattan cronies were bragging about this "brilliant" and "novel" NSR deal that they originated... Wonder if they're still bragging about that little chestnut now that this agreement is going to be bogged down in South African courts for... well.... who KNOWS how long....
Bharti is a major credibility problem imho.... He's pretty shady and has his fingerprints over virtually EVERY ONE of Abderdeen's investments.... He probably made countless of millions on the Croc Gold/Franc-Or deal for example....
Aberdeen is small potatoes to a guy like Bharti - he could probably care less if it collapsed and/or was pillaged/raided.
You look at this stock compared to the balance sheet and you think... my God!!! its trading at ~30 or ~40% of NAV!!?!?!? That can't last forever!!!! So you buy more.
Then you look at it next quarter, and think the same thing... so you buy more.... and the next quarter.... and the next.... and the... and...