RE: RE: Under A BuckMr Bigger: You wrote:
If it goes under a dollar you may see a management/Ernesto led buyout of the retail shares for a 30-40 % premium.
They may take it private for a 1.30 a share.
How do you like those apples??
Your assessment sounds reasonable to me. I haven't the faintest idea what Ernesto's investment objectives or personal timelines are, but if I were him, I'd be getting pretty impatient right now. He was originally promised that the BFS would be completed in Q4 of 2010, so it will now be at least a year overdue. I'm sure that he'd be delighted to be bought out for $11.00 or $244.00, or whatever figure that we on this board might dream up, but as we know, he got most of his shares very cheaply, and if he "only" received $1.30 for them, well, that's still a pretty good return, and in this market there's lots of other beat-up companies that he could invest those proceeds in, where he might achieve another 25-bagger.
And you know what? To be honest, right now I'd take a lowball offer myself. Not $1.30 please, but I'd definitely accept $2.00 for my CUU holdings, even though by doing so I'd be suffering a dreadful loss on all of the shares that I bought in early April in the $2.60 range. Sorry to whine, but I'm weary of this stock. Weary of all of the false hopes that it keeps raising and then dashing to pieces. I'm weary of always being hopeful for things to improve. Weary of people telling each other "just wait till PDAC", "just wait till the NTL is approved" "just wait till the Annual Meeting" "just wait till the new RE" "just wait till the aerial survey" "just wait till the drill results from Big Red" "just wait till we get the Titan results". On and on it goes, and every day the market is telling us that we've got our head in the clouds with this stock, that we've filled each other's minds with fantasy visions of what the Schaft Creek project is really worth in the eyes of a serious buyer.
But, maybe Ernesto is a more patient man that I am. As they say in his country, "poco a poco se va lejos". But if I were him, I'd be sitting down for a very serious chat with Elmer right now, and telling him that his top priority should be to find a buyer very soon, and if the best price that is offered is $1.30, then so be it.