Share Buyback Means Nothing The Share Buyback is a great value, but does nothing to protect the shareholders from what appears to be a situation where we are sitting ducks for a low priced predatory takeover, that will in no way reflect the value of the BTC assets which are essentially shares in CORO Copper.
I seek not to suggest at this juncture, that Steven Stares and the management directorship of the Benton/Stares Stock Market Companies, have done anything or could have done anything . I am not aware of any happenstances other than the companies predicament, the scenario before the " spinout" and the Gold Royalty aberration.
I have deep concerns as should other investor/ shareholders and am deeply turned off by the idea of a Sheldon Iwentash or his ilk being able to take the company over easily.
We need Stares to do something now to remove the vulnerability. Lets take a look at the Gold Royalty Takeover, objectively and ask ourselves whether that takeover, had it gone through would have benefitted Stares and the Stares Bex Stockmarket company much more than it the little payout the BTC stockholders would have gotten. That is an important question because Stares and company can take the position that they are stockholders in BTC and would not have been any more naturally inclined to favor the GRO takeover than any other BTC Stockholder. This is what I see would have been reasonable to expect had the GRO takeover gone thru. CORO goest thru the roof after the takeover and GRO looks like the biggest thing going and the stock pops. Then the price of Gold goes up and all the junior gold stocks go crazy with GRO being perceived as a proven leader due to the killing it made taking over CORO.. BEX and its principals would have profitted immensely from the shares they currently hold in GRO and the huge amount of GRO shares they could reasonabley have expected from offering to they sell Saint Anne or some other property to the immensely greatful folks at GRO in return for GRO shares. If Saint Anne is
None of this happened, possibly because some stockholders screamed about it. The next time stockholder sentiment will not be sufficient.
There may be an argument that if the Benton Stares who control BTC merge it now with CORO it would adversely impact the share price of CORO and therefore CORO's ability to do what it needs to do to continue operating in this current adverse financial environment. If Steven Stares does not take aggressive pro active action, BTC will be gone. Steven Stares first step should be trying to work something out with CORO management to protect the interests of shareholders in CORO and BTC whose fates seem to be closely aligned and whose destiny as Shareholder/Stakeholders in the future of CORO could be very bright if Steven Stares finds a way to protect us all. As to the likelihood of that happening, i refrain from further observation which would have to be based on past performance and character assessment. :)
Canada Moose