OTCPK:VGIPF - Post by User
Comment by
DayOfReckoningon May 01, 2013 12:46pm
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Post# 21324829
RE: RE: It will probably hold
RE: RE: It will probably hold I think its been all priced in, but you could be right about a big final FLOOSH of selling when they finally NR the new plan for going forward...
Its hard to see anyone buying the whole company in this environment, but you never know...
One thing is for sure (the caveat of course being if there is fraud in the numbers, I'm NOT saying there is) there is still a lot of value in Renegade that could be unlocked to the benefit of shareholders. The reserves are independently audited, and the success rate on a lot of their lands has a history of being exceptional. You have to believe that NAV is between $2.25-2.50, but I'm not sure what kinds of costs are associated with "re-structuring of assets", which could serve to lower that number...