Puncture and Pickup Strategy? The goings on at MMY have got me wondering whether I am missing info and whether I can learn something. The facts as I know them are;
- MMY is throwing off $43 million cash annually, mkt valuation $106 million, seemingly honest and qualified mgmt, and clean prompt financial statements
- Recently concluded private placement 5 cents below mkt, ostensibly to fund new develop while keeping enough cash to avoid running short, but obviously to increase friendly holding > 50% to avoid hostile takeover
- Pump and dump vs puncture and pickup? Is there such a strategy as puncture (stock price) and pickup control that could be used against current mgmt?
- How does this play end?
Can you think of any examples among gold miners? Any junior miners?
Thanks