OTCPK:VGIPF - Post by User
Post by
counterintuitive247on Oct 10, 2013 9:18pm
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Post# 21808913
opportune time to buy yet? Colonia management exits
opportune time to buy yet? Colonia management exitsIts no surprise that Mike is out, he really got torched at the AGM and didnt really convince anyone that he was a leader, but more of a secretary asking for business cards to get back to angry shareholders. Its also fact that Mr. D.M. (Bud) McDonald had 40% of votes withheld at the agm. So he has to leave. So all in all the move to get these guys out had to be done.
Not sure where the strategic process is at. It could be either moving towards a merger > CPG or SGY stronger management team. or Trying to reorganzie the management with a new president, CEO, CFO.
Andy is a good short term leader, I have met him a few times and comes off as and honest, knowledgeble person who will be focused on growing the production while we wait for an annoucement.
Its positive to talk to anaylsts that understand the asset and see 1.65 as targets. The problem is not in the ground its in an office and this can be fixed with time. Would 1.45 be acceptable for a take out price? I'd be happy and even happier if its by a well known management team.
Expecting some announcement in the coming weeks on a new plan or a merger. it was a rumor (eric Nuttal) that bids were due end of July. I am wondering if there were some acceptable numbers from a couple potential buyers and now final negotiations are happening to go exclusive?
Till then I will pick at the weak spots and increase position.