RE: Crash - Lower Stock PriceCrash,
BVG is an explore company. They want to continue to be a company exploring - and they do have other viable properties worth investigating. If they were a one-horse company and simply interested in cashing out, it would seem to me that they would simply cash in their chips - and find a new job. But I sense that these guys are good at what they do - and seem to be righteous - and want to continue as a team.
To do this...Separate the now explored and proven property (Homestake and surround (don't forget the recent purchase of nearby property...which makes it an even bigger package)) and let the interested parties that have the ability to actually make it a mine duke it out (was there not mention of eleven letters of confidentiality on the table?) - and at the same time make a new company to let the exploration team keep going on their other properties. Reward the longs for continued belief and support by letting their shares stand firm with BVG but also by giving them a little bonus in the shares of the new company. ..which will bring a level of proven and belief and support to the new company, as those who are there because of the team are still with them at the start of the new company.
With respect to the shares of BVG...whether you had them then - or buy them now...it is a whole new ball game, as this is now a separate company that has a proven property and that WILL be sold. It shouldn't make any difference to whatever the negotiations are for the ultimate value of BVG. Frankly, I am surprised that others haven't talked about this much - and that the SP is currently where it is - but there are likely others here who are more adept at explaining this than I am. Personally, I think we should all be buying the bejesus out of BVG...as, unlike most explore companies, this fish has landed!
Why wouldn't any sane person vote for approval of the split? The proposal seems a way more honourable resolution to "rights of succession" than of a number of others that we all could name.
Hope this was of some help to you.
El D